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Home My WebLink AboutRes 1991-11B CJ J RESOLUTION NO. 1991 -11 A RESOLUTION OF THE COMMON COUNCIL OF THE TOWN OF FOUNTAIN HILLS, ARIZONA, DECLARING THE RE- SULTS OF AND ADOPTING A CERTIFICATE OF RESULTS OF THE SPECIAL GENERAL OBLIGATION BOND ELEC- TION HELD ON MARCH 12, 1991, AND ORDERING THE RECORDING OF SUCH CERTIFICATE BE IT RESOLVED BY THE COMMON COUNCIL OF THE TOWN OF FOUNTAIN HILLS, ARIZONA: That after careful examination of the official returns of the special general obligation bond election held in and for the Town of Fountain Hills, Arizona (the "Town ") , on March 12, 1991, it is found and determined by the Common Council of the Town as follows: (A) That a majority of the votes cast by the qualified electors of the Town voting at the special general obligation bond election held on March 12, 1991, voted "For the Bonds" in response to the following question: PURPOSE: ROAD IMPROVEMENTS AMOUNT: $31530,000 Shall the Mayor and Common Council of the Town of Fountain Hills, Arizona, be authorized to incur indebtedness by the issuance and sale of general obligation bonds of the Town in the maximum aggregate principal amount of not to exceed $3,530,000 to provide funds for the pur- pose of improvement, construction, reconstruc- tion and maintenance of Town streets and high- ways and to pay all legal, financial, engineer- ing and other necessary costs and expenses in connection therewith and with the issuance and sale of such bonds, such bonds to bear interest at a rate or rates of not to exceed twelve per- cent (12 %) per annum, provided that each bond may be evidenced by one instrument or a succes- sion of instruments and the interest may be payable or compounded semiannually or more or less frequently than semiannually and at a variable rate or rates, none of which shall exceed twelve percent (12 %) per annum; to mature over a period of not to exceed twenty (20) years from the date of their issuance and 4 to be in the denomination of $1,000 each or multiples thereof at maturity? FOR THE BONDS AGAINST THE BONDS L/ (B) That up to and including $3,530,000 aggregate prin- cipal amount of "Town of Fountain Hills, Arizona, General Obliga- tion Bonds" are therefore authorized to be issued and sold; (C) That the Mayor and members of the Common Council of the Town shall execute the attached "Certificate of Results of Election "; and (D) That the Town Clerk of the Town is hereby directed to record the attached "Certificate of Results of Election" in the Office of the County Recorder of Maricopa County, Arizona, and to return said copy with the recording date shown therein to the official records of this body. PASSED, ADOPTED AND APPROVED by the Common Council of the Town of Fountain Hills, Arizona, on March 28, 1991. ATTEST: Clerk, Town of Fountain Hills, Arizona APPROVED AS APO O'Connor, Cava: Westover, Kil Beshears, P.A 7 : kv.......... agh, Anderson, .ingsworth & ., Bond Counsel ... .. . Vice Mayor, Town of Fountain Hills, Arizona 5 (_4auv CERTIFICATE OF RESULTS OF THE SPECIAL GENERAL OBLIGATION BOND ELECTION HELD IN AND FOR THE TOWN OF FOUNTAIN HILLS, ARIZONA, ON MARCH 12, 1991 The Mayor and Common Council of the Town of Fountain Hills, Arizona (the "Town "), pursuant to the provisions of Title 35, Chapter 3, Article 3, Arizona Revised Statutes, as amended, do hereby certify as follows: 1. That pursuant to a Resolution passed and adopted by the Mayor and Common Council of the Town on January 17, 1991 (the "Resolution "), a special general obligation bond election was duly called and regularly held in and for the Town on March 12, 1991, when there was submitted to the qualified electors of the Town the question as shown on the attached form of ballot; 2. That the poll and tally lists and the official returns of the election boards that conducted the special general obligation bond election were filed with the Mayor and Common Coun- cil of the Town on March 28, 1991, and the Common Council of the Town met and canvassed the returns of the special general obliga- tion bond election as prescribed by law; 3. That the object of the special general obligation bond election was to obtain authority from the qualified electors of the Town to issue and sell the bonds described in the attached form of ballot; 4. That after careful and complete canvass of the offi- cial election returns, in answer to the question submitted to the qualified electors of the Town at the special general obligation bond election, the majority of the votes cast were cast in favor of the creation of the indebtedness described in the question submitted at the special general obligation bond election for the issuance and sale of not to exceed $3,530,000 principal amount of general obligation bonds of the Town as determined by the election boards at the polling places in the Town, the special general obligation bond election had been conducted and the returns thereof made as required by law and the result of the special general obli- gation bond election is set forth in the following tabulation of the official election returns, to -wit: For Against Polling Place The Bonds The Bonds Total Fountain Hills Community Center 258 72 330 11445 North Saguaro Boulevard Fountain Hills, Arizona Shepherd of the Hills Lutheran 205 100 305 Church Corner of El Lago & Fountain Hills Boulevard Fountain Hills, Arizona Fountain Hills School District 182 78 260 Administration Building 14605 North Del Cambre Avenue Fountain Hills, Arizona McDowell Mountain Elementary 237 72 309 School 14825 North Fayette Drive Fountain Hills, Arizona TOTALS 882 322 11204 5. That each and every person who voted at the special general obligation bond election held at the time, place and in the manner aforesaid was a qualified elector of the Town and that proof of the due and regular publication of the Resolution has been made and filed with the Mayor and Common Council of the Town and placed upon the minutes of the Common Council of the Town; and 6. That the majority of the votes cast at the election in answer to the question submitted was in favor of the indebted- ness, as described in the question submitted at the election, by the issuance and sale of up to and including $3,530,000 aggregate principal amount of "Town of Fountain Hills, Arizona General Obli- gation Bonds," and that the Mayor and Common Council of the Town do hereby order the issuance and sale of all the bonds of this issue. 2 IN WITNESS WHEREOF, the Mayor and members of this Common Council have hereunto placed their hands and caused the same to be attested by the Town Clerk and the seal of the Town of Fountain Hills, Arizona, to be affixed hereto on March 28, 1991. John Cutillo, Mayor .. �- . ......... Frank Clark, Vice Mayo •arles E. Fox, Cou cilmember Wallace B. Hudson, Councilmember M Councilmember William J. O'B en, Councilmember Margar S. Tibbetts, Councilmember (SEAL) ATTEST: Cassie Hansen, Town Clerk THIS DOCUMENT MUST BE RECORDED IN THE OFFICE OF THE COUNTY RECORDER OF MARICOPA COUNTY, ARIZONA. 3 OFFICIAL BALLOT Km FOR SPECIAL GENERAL OBLIGATION BOND ELECTION TO BE HELD IN AND FOR THE TOWN OF FOUNTAIN HILLS, ARIZONA, ON MARCH 12, 1991 PURPOSE: ROAD IMPROVEMENTS AMOUNT: $3,530,000 Shall the Mayor and Common Council of the Town of Foun- tain Hills, Arizona, be authorized to incur indebtedness by the issuance and sale of general obligation bonds of the Town in the maximum aggregate principal amount of not to exceed $3,530,000 to provide funds for the purpose of improvement, construction, recon- struction and maintenance of Town streets and highways and to pay all legal, financial, engineering and other necessary costs and expenses in connection therewith and with the issuance and sale of such bonds, such bonds to bear interest at a rate or rates of not to exceed twelve percent (12 %) per annum, provided that each bond may be evidenced by one instrument or a succession of instruments and the interest may be payable or compounded semiannually or more or less frequently than semiannually and at a variable rate or rates, none of which shall exceed twelve percent (12 %) per annum; to mature over a period of not to exceed twenty ( 2 0 ) years from the date of their issuance and to be in the denomination of $1, 000 each or multiples thereof at maturity? 25625007.MIS/032791 FOR THE BONDS I AGAINST THE BONDS L_/