HomeMy WebLinkAboutRes 1994-03L
RESOLUTION NO.1994-03
TOWN OF FOUNTAIN HILLS,ARIZONA
RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF FOUNTAIN HILLS,
MARICOPA COUNTY,ARIZONA,ORDERING AND CALLING A SPECIAL STREET AND
HIGHWAY USER REVENUE BOND ELECTION TO BE HELD IN THE TOWN OF FOUNTAIN
HILLS ON TUESDAY THE 8TH DAY OF MARCH,1994,TO SUBMIT TO THE QUALIFIED
ELECTORS OF THE TOWN,THE QUESTION OF ISSUING AND SELLING STREET AND
HIGHWAY USER REVENUE BONDS OF THE TOWN IN THE PRINCIPAL AMOUNT OF
$1,435,000 TO BE DESIGNATED TOWN OF FOUNTAIN HILLS STREET AND HIGHWAY
USER REVENUE BONDS SERIES 1994,TO PROVIDE FUNDS TO FOR THE PURPOSE OF
IMPROVEMENT,CONSTRUCTION,RECONSTRUCTION AND MAINTENANCE OF FOUNTAIN
HILLS BOULEVARD AND OTHER STREETS AND HIGHWAYS, AND FOR THE
INSTALLATION OF NECESSARY TRAFFIC CONTROL EQUIPMENT WITHIN TOE TOWN OF
FOUNTAIN HILLS,AND TO PAY ALL CONTINGENT COSTS,TO BE DATED THE DATE
OF THEIR ISSUANCE,TO BE NUMBERED FROM ONE UPWARD,TO BE IN THE
DENOMINATION OF $5,000 EACH OR MULTIPLES THEREOF,TO BEAR INTEREST FROM
THEIR DATE TO THE MATURITY OF EACH BOND IN THE SERIES AT A RATE NOT TO
EXCEED TWELVE PERCENT (12%) PER ANNUM THE FIRST INTEREST PAYMENT DATE
TO BE DETERMINED PRIOR TO OFFERING ALL OR ANY SERIES OF THE BONDS FOR
SALE,INTEREST PAYABLE SEMIANNUALLY THEREAFrER DURING EACH YEAR DURING
THE TERM OF EACH BOND,BONDS TO MATURE IN EACH YEAR DURING A PERIOD OF
NOT TO EXCEED TWENTY (20) YEARS FROM THEIR DATE IN THE AMOUNTS AND
YEARS TO BE DETERMINED BY THE MAYOR AND COUNCIL;PROVIDING FOR GIVING
NOTICE OF SPECIAL BOND ELECTION; AND DECIARTNG AN EMERGENCY.
WHEREAS,in the judgment of the Mayor and Council of the Town of
Fountain Hills,Arizona,it is necessary and for the best interest of the
Town to authorize and issue street and highway user revenue bonds in the sum
of $1,435,000 to be used among other things to improve,construct,
reconstruct and maintain Fountain Hills Boulevard and other streets highways
and roads within the Town and provide for traffic control equipment;and
WHEREAS,the Town of Fountain Hills does not have sufficient
unallocated funds for such purpose;and
WHEREAS,in order to procure funds for such purpose it is necessary
that street and highway user revenue bonds of the Town of Fountain Hills be
issued and sold in the amount and for the purpose herein set forth.
NOW,THEREFORE,BE IT ORDERED BY THE MAYOR AND COUNCIL OF THE TOWN OF
FOUNTAIN HILLS,MARICOPA COUNTY, ARIZONA:
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Section 1.That the Mayor and Council of the Town of Fountain Hills,
Maricopa County,Arizona,pursuant to the provisions of Title 48,Chapter 4,
Article 5,Arizona Revised Statutes,and all amendments thereto,do hereby
order and call a special bond election to be held in the Town of Fountain
Hills,Arizona (hereinafter the "Town")on March 8,1994,to submit to the
qualified electors of the Town the following question:
QUESTION
Shall the Town of Fountain Hills, Maricopa County, Arizona, become
indebted by the issuance and sale of street and highway user
revenue bonds of the Town by the Mayor and Council in the maximum
aggregate principal amount of $1,435,000,to be known as Town of
Fountain Hills, Street and Highway User Revenue Bonds Series 1994,
to provide funds for the purposes of improvement,construction,
reconstruction,maintenance of, and acquisition of rights-of-way
for Fountain Hills Boulevard and other Streets and Highways, and
for the installation of necessary traffic control equipment within
the Town 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 be issued in one
series,to be dated the date of their issuance,to be numbered
from 1 upward,to be in the denomination of $5,000 each or
multiples thereof,to bear interest from their date to the
maturity of each bond in the series at a rate of not to exceed
twelve percent (12%)per annum,the first interest payment date to
be determined prior to offering all of the bonds for sale,
interest payable semiannually thereafter on January 1 and July 1
of each year during the term of each bond,provided that
alternatively 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;the bonds to mature each
year as specified on the face of the bonds during a period of not
to exceed twenty (20) years from the date of the bonds in the
amounts and years to be determined by the Mayor and Council of the
Town of Fountain Hills, and to be payable solely from revenues to
be derived from taxes,fees,charges and other moneys collected by
the State of Arizona and returned to the Town of Fountain Hills,
Arizona,for street and highway purposes pursuant to law which
have not been theretofore specifically allocated and pledged for
the payment of indebtedness?
Section 2.That the polling places shall be as follows:
Polling Place #1,Fountain Hills District (Precinct)#1:
Christ's Church of Fountain Hills, 15555 E.Bainbridge
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Polling Place #2,Fountain Hills District (Precinct)#2:
Fountain Hills School District Administration Building, 14605 N.Del
Cambre
Polling Place #3,Fountain Hills District (Precinct)#3:
Fountain Hills Presbyterian Church,13001 N.Fountain Hills Blvd.
Polling Place #4,Fountain Hills District (Precinct)#4:
Shepherd of the Hills Lutheran Church,Corner of El Lago &Fountain
Hills Blvd.
Polling Place #5,Fountain Hills District (Precinct)#5:
Fountain Hills Community Center,11445 N.Saguaro Blvd.
Polling Place #6,Fountain Hills District (Precinct)#6:
Fountain Hills Community Church,15202 N.Fountain Hills Blvd.
Section 3.That the polling places shall be open at the hour of 6:00
a.m.MST and shall be closed at the hour of 7:00 p.m. MST on election day.
Absentee voting shall be permitted in accordance with the provisions of
Title 16,Chapter 4,Article 8,Arizona Revised Statutes,as amended.
Absentee voting information and absentee voting materials may be obtained by
contact the office of the Clerk of the Town of Fountain Hills, Arizona,
16836 South Palisades,Building C,Fountain Hills,Arizona 86269,telephone
number 602-837-2003.
Section 4.That,pursuant to Arizona Revised Statutes Section 48-683,
the election shall be ordered and,pursuant to Arizona Revised Statutes
Section 48-683,notice thereof shall be given by posting a copy of this
resolution ordering and calling the special bond election in at least five
(5)public places in the Town of Fountain Hills and a copy at the polling
places not less than fifteen (15)nor more than thirty (30)days prior to
the date of the election,and by publishing a copy of the resolution once,
not less than fifteen nor more than thirty days,prior to the date of the
election in The Times of Fountain Hills and Rio Verde Arizona, a weekly
newspaper published at Fountain Hills,Arizona,and of general circulation
in the Town of Fountain Hills,and the Town Clerk is hereby authorized and
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directed to cause the resolution ordering and calling the special bond
election to be posted and published according to law and the provisions of
this resolution.
Section 5.That the Town Clerk of the Town of Fountain Hills is hereby
authorized and directed to have printed and delivered to the election board
at the polling places,to be furnished by the election officers to the
qualified electors of the Town offering to vote at the election,ballots
containing the foregoing question followed by the words "For the Bonds"and
"Against the Bonds".The ballots shall substantially comply with the
attached form of Ballot.
Section 6.That the special election shall be held,conducted and
canvassed in conformity with the provisions of the general election laws of
the State of Arizona,except as otherwise provided by law,and any persons
who are qualified electors of the Town of Fountain Hills shall be permitted
to vote at the special bond election.A qualified elector is one who is a
resident within the Town of Fountain Hills and whose name appears on the
general register of voters for the last preceding general state and county
election and who has not been cancelled out for failure to vote, or a person
who voted in the last preceding general election for presidential electors
only and has subsequently met the residency requirements for voting in all
elections,or a person who has registered on or before the twenty-ninth day
preceding this election shall,if otherwise qualified,be entitled to vote
in this special bond election.
Section 7.That,pursuant to Arizona Revised Statutes Section 48-686
and 16-642 the returns of the special bond election shall be made to the
Mayor and Council of the Town of Fountain Hills not less than six (6)days
or more than fifteen (15)days following the election,and shall be
canvassed and the results thereof certified by the Mayor and Council at a
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meeting to be held on March 17,1994, at that hour of:6:30 p.m. as
prescribed by law.The Mayor and Council shall be governed by the vote of
the majority of the qualified electors of the Town voting at the special
street and highway user revenue bond election on the question submitted.
Section 8.In order to comply with the Voting Rights Act of 1965, as
amended, the following proceedings pertaining to this election shall be
translated into Spanish and posted, published and recorded in each instance
where posting,publication and recording such proceedings are required,
to-wit: Order and Call of Special Bond Election, official ballot, all
absentee voting materials and all instructions at the polls.
Section 9.That by reason of the urgent need for the acquisition,
development and improvements which are to be made from the proceeds of the
bonds herein authorized,the immediate operation of the provisions of this
resolution is necessary for the preservation of the public peace,health and
safety, and an emergency is hereby declared to exist, and that this
resolution be enacted as an emergency measure and be in full force and
effect immediately upon passage and adoption, and it is so enacted.
PASSED,ADOPTED AND APPROVED by the Mayor and Council of the Town of
Fountain Hills, Arizona, this 20th day of January,1994,by a vote of 7
ayes,0 nays, 0 abstaining, and 0 not voting.
TOWN OF FOUNTAIN HILLS,ARIZONA
ATTEST
UUL/UA.P.\J4MAjL^
Town Clerk
APPROVED AS TO FORM
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Town Attorney
r Gliege^y Bond Counsel
HURFELCT.RES/FOUNTAIN
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EXHIBIT A
Stub No.TO BE TORN OFF BY JUDGE
OFFICIAL BALLOT
FOR SPECIAL STREET AND HIGHWAY USER REVENUE BOND ELECTION HELD
WITHIN MARICOPA COUNTY,ARIZONA IN THE TOWN OF FOUNTAIN
HILLS, ARIZONA, ON TUESDAY, MARCH 8, 1994
PURPOSE: ROAD IMPROVEMENTS AMOUNT:$1,435,000
QUESTION
Shall the Town of Fountain Hills,Maricopa County, Arizona, become
indebted by the issuance and sale of street and highway user
revenue bonds of the Town by the Mayor and Council in the maximum
aggregate principal amount of $1,435,000,to be known as Town of
Fountain Hills,Street and Highway User Revenue Bonds Series 1994,
to provide funds for the purposes of improvement,construction,
reconstruction,maintenance of, and acquisition of rights-of-way
for Fountain Hills Boulevard and other Streets and Highways, and
for the installation of necessary traffic control equipment within
the Town 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 be issued in one
series, to be dated the date of their issuance,to be numbered
from 1 upward,to be in the denomination of $5,000 each or
multiples thereof,to bear interest from their date to the
maturity of each bond in the series at a rate of not to exceed
twelve percent (12%)per annum,the first interest payment date to
be determined prior to offering all of the bonds for sale,
interest payable semiannually thereafter on January 1 and July 1
of each year during the term of each bond,provided that
alternatively 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;the bonds to mature each
year as specified on the face of the bonds during a period of not
to exceed twenty (20) years from the date of the bonds in the
amounts and years to be determined by the Mayor and Council of the
Town of Fountain Hills, and to be payable solely from revenues to
be derived from taxes,fees,charges and other moneys collected by
the State of Arizona and returned to the Town of Fountain Hills,
Arizona,for street and highway purposes pursuant to law which
have not been theretofore specifically allocated and pledged for
the payment of indebtedness?
FOR THE BONDS AGAINST THE
BONDS
NOTICE TO VOTERS:
The voter shall mark a cross in the square opposite the words "FOR THE
BONDS"or "AGAINST THE BONDS",whichever words express his choice.Only
qualified electors of the Town of Fountain Hills of Maricopa County,
Arizona, are eligible to vote at this election.
HURFBALL.OT/FOUNTAIN