HomeMy WebLinkAbout1991/10/08-Minutes-City CouncilMinutes of City Council S-3 Page 448
CITY COUNCIL MEETING
OCTOBER 8, 1991
Council Met
On the 8th day of October, A.D., 1991, the City Council of the City of Fort Worth,
I
exas, met in regular session, with the following members and officers present, to -wit:
Members Present
Mayor Kay Granger; Mayor Pro tempore Virginia Nell Webber; Council Members Carlos
uente, Chuck Silcox, Morris Matson, Eugene McCray, Jewel Woods, Bill Meadows, and David
happell; City Manager David Ivory; City Attorney Wade Adkins; City Secretary
Ruth Howard;
ith more than a quorum present, at which time the following business was transacted:
Invocation
The invocation was given by Rabbi Ralph Mecklenberger of Beth -E1 Congregation.
Pledge of
The Pledge of Allegiance was recited.
Allegiance
Minutes of October
1, 1991 approved
On motion of Council Member Chappell, seconded by Council Member Puente, the minutes
f
the meeting of October 1, 1991, were approved.
Certificate of
recognition -
A certificate of recognition was presented to Mrs. Ruby Jo Halden, former member of
Mrs.. Ruby
Rubby Jo
he City Zoning Commission and the Fort Worth Alliance Airport Zoning Commission.
Hal den
Deputy Chief Ralph
Deputy Chief Ralph
P Y ph Mendoza presented certificates of recognition to Mesdames Pamela
Mendoza presented
ogan, Abby Hill, and Ann Van Berg, civilian employees of the Police Communications
certificates
ivision.
Proclamation -
Fire Prevention
A proclamation for Fire Prevention Week was presented to Captain Les Burke and
attal ion Chief Jay Peacock.
Week
Minutes of City Council S-3 Page 448
Prclamation -
Drugs, -Gangs, and
Violence Aware-
ness Action
Resolution in
Appreciation of
Dedicated Service
moved forward on
agenda
Introduced a
Resolution
Resolution No.
1770
Mayor Granger
presented City
Secretary Howard
with a rocking
chair
City Secretary
recognized her
daughter Jan
Council Member
Puente re District
3 firefighters
Recognized former
City Council
Members Louis J.
Zapata and Garey
Gilley
4 4 17
Tuesday, October 8, 1991
A proclamation for Drugs, Gangs, and Violence Awareness Action Months was presented
to the Better Influence Association.
Mayor Pro tempore Webber made a motion, seconded by Council Member Meadows, that the
Resolution in Appreciation of Dedicated Service be moved forward on the agenda at the
present time. When the motion was put to a vote by the Mayor, it prevailed unanimously.
Council Member Chappell introduced a resolution and made a motion that it be adopted.
The motion was seconded by Council Member McCray. The motion, carrying with it the adoption
of said resolution, prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, Meadows, and Chappell
NOES: None
ABSENT: None
The resolution, as adopted, is as follows:
RESOLUTION NO. 1770
IN APPRECIATION OF
DEDICATED SERVICE
WHEREAS, in 1965, Ruth Howard joined the City of Fort Worth and became a
member of the administrative staff of the City Secretary's Office, which is
charged with the all-important duties of maintaining City Council records, City
Council meeting minutes, conducting City elections and numerous other critical
municipal tasks; and,
WHEREAS, Ruth has carried out her administrative responsibilities in an
outstanding manner, which earned her a promotion to Assistant City Secretary by
City Council on April 1, 1976; and,
WHEREAS, when the City Secretary position became vacant in 1983, the Fort
Worth City Council elected to promote Ruth to one of the most important posts
in the City; and,
WHEREAS, since taking office as City Secretary of the City of Fort Worth,
Texas, on March 1, 1983, Ruth has made significant contributions to the
effective operations of the City which has touched each and every citizen of
this City. From computerizing the City's election system, expanding the
absentee voting process, revamping the vital official city record filing system
to cataloging and preserving old City records, she has also all the while,
conducted the many varied day-to-day duties and responsibilities placed on the
Office of the City Secretary by City Council. In the course of carrying out
those duties, Ruth has stood as the bedrock on which the principles of democracy
is based: a free people who have the right of self-determination through an
open and competitive elective and governance process; and,
WHEREAS, Ruth has elected to retire from the City of Fort Worth after 26
years of dedicated service;
NOW, THEREFORE, BE IT RESOLVED: that the City Council of the City of Fort
Worth expresses its sincere and deep appreciation to Ruth Howard for 26 years
of outstanding service to the City Council, the Citizens and the City Staff of
the City of Fort Worth and for her dedication in making the City a better
community; and,
BE IT FURTHER RESOLVED: that we also give Ruth's family and friends our
sincere appreciation for allowing Ruth to stay with us long hours to conduct
candidate filings, elections and other tasks that insured that democracy, as our
forefathers envisioned, lived in Fort Worth, Texas; and,
BE IT FURTHER RESOLVED: that we wish Ruth the very best in the days and
years to come.
Mayor Granger presented City Secretary Howard with a rocking chair in appreciation of
her many years of service.
City Secretary Howard recognized her daughter, Jan Howard.
Council Member Puente commended District 3 firefighters and the community for
distributing the smoke alarms to the citizens.
Mayor Pro tempore Webber recognized former City Council Members Louis J. Zapata and
Garey Gilley.
Minutes of City Council S-3 Page 449
,150
Tuesday, October 8, 1991
r. Abraham Feld- Mr. Abraham Feldman presented the City Council with a glasswork of the State of Texas
an presented a with the City of Fort Worth emblem and Mayor Granger accepted the art work on behalf of the
1 assowrk of the City of Fort Worth.
tate of Texas
ithdrew M&C Council Member Chappell requested that Mayor and Council Communication Nos. C-13088
os. C-13088, and C-13086 be withdrawn from the consent agenda.
-13086
ithdrew M&C No. Council Member Meadows requested that Mayor and Council Communication No. L-10649 be
-10649 1 withdrawn from the consent agenda.
ithdrew M&C Nos. City Manager Ivory requested that Mayor and Council Communication Nos. P-5257, P-5258,
-5257, P-5258,
P-2872 and FP -2872 be withdrawn from the consent agenda.
ithdrew M&C, No. Mayor Pro tempore Webber requested that Mayor and Council Communication No. C-13089
-13089 The withdrawn from the consent agenda.
ithdrew M&C. No. City Manager Ivory requested that Mayor and Council Communication No. G-9282 be
-9282 and M&C Nos. withdrawn from the agenda and that Mayor and Council Communication Nos. C-13091 and C-13092
-13091 and be continued for one week.
-13092 be cont.
or one week Mayor Pro tempore Webber requested that Mayor and Council Communication No. C-13089
&C C-13089 cont.
or one week be continued for one week.
onsent agenda On motion of Council Member Chappell, seconded by Council Member Meadows, the consent
pproved I agenda, as amended, was approved.
eappointed Mr.,, ,,, ,;Council Member Chappell made a motion, seconded by Council Member Meadows, that Mr.
ilbert Garcia, Gilbert Garcia, Sr., be reappointed to Seat 3, Mr. George Sumner be reappointed to Seat 21,
r.;M r. George and Ms. Carolyn Bell be reappointed to Seat 11 on the Private Industry Council. When the
umner; Ms. Carolyn motion was put to a vote by the Mayor, it prevailed unanimously.
ell to the PIC
ominated Mr. Don
urry to the Council Member Meadows nominated Mr. Don Curry for membership on the Aviation Advisory
vi ati on Advisory Board and made a motion, seconded by Council Member Puente, that Mr. Don Curry be
o and reappointed to the Aviation Advisory Board for a term of office expiring October 1, 1993.
When the motion was put to a vote by the Mayor, it prevailed unanimously.
ominated Ms. Wanda Council Member Woods nominated Ms. Wanda Bell for membership on the Library Advisory
ell to the Board and made a motion, seconded by Council Member Puente, that Ms. Wanda Bell be appointed
ibrary Advisory to Place 6 on the Library Advisory Board for a term of office expiring October 1, 1992.
oa rd When the motion was put to a vote by the Mayor, it prevailed unanimously.
ominated Mr.
eorge Pepper to
he Aviation
dvisory Board;
s. Carolyn Ashfor
o the Citizens', -
able Board;Mr.-Jo
elson to the Park
nd Recreation Ad-
isory Board
ominated Ms.
harlece Thomas-
ames to the
ultural District
ommittee
ominated Ms.
lizabeth Ledyard
o the Citizent`.
able Board
Council Member Chappell nominated Mr. George Pepper for membership on the Aviation
Advisory Board; Ms. Carolyn Ashford for membership on the Citizens' Cable Board; and Mr. Jon
Nelson for membership on the Park and Recreation Advisory Board and made a motion, seconded
by Council Member Meadows, that Mr. George Pepper, Ms. Carolyn Ashford, and Mr. Jon Nelson
be reappointed to the Aviation Advisory Board, Citizens' Cable Board, and Park and
Recreation Advisory Board, respectively. When the motion was put to a vote by the Mayor,
it prevailed unanimously.
Mayor Pro tempore Webber nominated Ms. Charlece Thomas -James for membership on the
Cultural District Committee and made a motion, seconded by Council Member Meadows, that Ms.
Charlece Thomas -James be appointed to the Cultural District Committee as her representative.
When the motion was put to a vote by the Mayor, it prevailed unanimously.
Council Member Silcox nominated Ms. Elizabeth Ledyard for membership on the Citizens'
Cable Board and made a motion, seconded by Council Member Chappell, that Ms. Elizabeth
Ledyard be reappointed to Place 3 on the Citizens' Cable Board for a term of office expiring
October 1, 1993. When the motion was put to a vote by the Mayor, it prevailed unanimously.
ominated Mr. John Council Member Woods nominated Mr. John Justin for membershi on the Cultural District
ustin to the p
ultural District Committee and made a motion, seconded by Council Member Chappell, that Mr. John Justin be
ommittee reappointed as her representative on the Cultural District Committee. When the motion was
put to a vote by the Mayor, it prevailed unanimously.
ominated Ms. Council Member McCray nominated Ms. Ceci l l a Brooks for membership on the Cultural
e cille Brooks to District Committee and made a motion, seconded by Council Member Woods, that Ms. Cecille
he Cultural Brooks be appointed as his representative on the Cultural District Committee. When the
i stri ct Committee motion was put to a vote by the Mayor, it prevailed unanimously.
ominated Mrs. -
ouise Appleman Mayor Granger nominated Mrs. Louise Appleman for membership on the Cultural District
o the Cultural Committee and made a motion, seconded by Council Member Woods, that Mrs. Louise Appleman be
istrict appointed as her representative on the Cultural District Committee. When the motion was put
to a vote by the Mayor, it prevailed unanimously.
ccepted with re- Council Member Woods made a motion, seconded by Council Member McCray, that the
rets resignation resignations of Mr. John Covanes, Jr., from the Plumbing Board and Ms. Mary Berry from the
f Mr. John Co- Library Advisory Board be accepted with regrets. When the motion was put to a vote by the
ane s, Jr. Mayor, it prevailed unanimously.
Minutes of City Council S-3 Page 450
151
Tuesday, October 8, 1991
Introduced an Council Member Chappell introduced an ordinance and made a motion that it be adopted.
Ordinance The motion was seconded by Council Member McCray. The motion, carrying with it the adoption
of said ordinance, prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, Meadows, and Chappell
NOES: None
j.: II ABSENT: None
The ordinance, as adopted, is as follows:
ORDINANCE NO. 10927
Ordinance No.
10927 An ordinance passed concurrently by the City Councils, respectively, of
the Cities of Dallas and Fort Worth, authorizing the issuance of Dallas -Fort
Worth Regional Airport Joint Revenue Bonds, Series 1991, in the aggregate
principal amount of $19,850,000, bearing interest at the rates specified, for
the purpose of paying part of the cost of constructing, equipping and otherwise
improving ithejointly owned Dallas -Fort Worth International Airport of the
Cities; providing for the form of said bonds; appointing a Paying
Agent/Registrar and providing for the transfer and exchange of such bonds;
awarding the sale of such bonds to the purchasers thereof; authorizing the
Dallas -Fort Worth International Airport Board to deliver said bonds as herein
directed; providing that such bonds are on a parity with the outstanding
Dallas -Fort Worth Regional Airport Joint Revenue Bonds heretofore or hereafter
issued; adopting pertinent provisions of and supplementing the 1968 Regional
Airport Concurrent Bond Ordinance and the Supplemental Regional Airport
Concurrent Bond Ordinances which authorized the issuance of Outstanding Bonds;
providing for the deposit of the proceeds of the Series 1991 Bonds into certain
funds and of the Joint Airport Fund; and directing that due observance of the
covenants herein contained be made by the Board; providing for severability;
ordaining other matters incident and relating to the subject and purpose hereof;
and declaring an emergency.
WHEREAS, pursuant to applicable laws and a certain contract and agreement,
dated April 15, 1968 (the "Contract and Agreement"), the City Councils,
respectively, of the Cities of Dallas and Fort Worth, by an ordinance passed
concurrently on November 11, 1968, and November 12, 1968 (the "1968 Ordinance"),
authorized the issuance of and sold their Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1968 (the "Series 1968 Bonds"), and by ordinances
concurrently passed subsequently authorized the issuance of and sold the
Outstanding Bonds for the purpose of paying the costs of the Dallas -Fort Worth
International Airport (formerly known as the "Dallas -Fort Worth Regional
Airport") and for the purpose of refunding certain bonds issued pursuant to the
1968 Ordinance as supplemented; and
WHEREAS, such subsequently issued bonds were issued as "Bonds" in
accordance with the terms of the 1968 Ordinance and on a parity with the Series
1968 Bonds; and
WHEREAS, said ordinances authorizing said outstanding bonds permit the
issuance of Additional Parity Bonds for the purpose of improving, constructing,
replacing or otherwise extending the Airport provided that certain requirements
for the issuance of Additional Parity Bonds are met, including a certification
from an Airport Consultant concerning the anticipated revenues of the Airport;
and
WHEREAS, all such requirements have been met, including the certification
by an Airport Consultant to the effect that during each Fiscal Year while the
outstanding Bonds and the proposed Additional Parity Bonds are scheduled to be
outstanding, the estimated Pledged Revenues will be at least equal to (1) the
estimated Operation and Maintenance Expenses during each fiscal year, plus (2)
an amount not less than 1.25 times the average annual principal and interest
requirements of all then outstanding Bonds and the proposed Additional Parity
Bonds; and
WHEREAS, in accordance with the Contract and Agreement said City Councils
have been requested by the Dallas -Fort Worth International Airport Board to
issue additional joint revenue bonds pursuant to a concurrent bond ordinance for
such purpose; and
WHEREAS, it is deemed by said City Councils to be desirable, appropriate
and necessary to issue such series of bonds for such purposes; and
Minutes of City Council S-3 Page 451
LYVf�
Tuesday, October 8, 1991
WHEREAS, the City Councils have each found and determined as to each that
Ordinance No. the matters to which this 1991 Ordinance relates are matters of imperative
10927 cont. public need and necessity in the protection of the health, safety and morals of
the citizens of each of the Cities and, as such, that this 1991 Ordinance is an
_ emergency measure and shall be effective as to each City respectively upon its
adoption by its City Council, and the meetings were open to the public as
required by law; and that public notices of the time, place and purpose of said
meetings were given as required by Article 6252-17, V.A.T.C.S., as amended.
TEXAS: NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DALLAS,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS:
ARTICLE I
TITLE, PREAMBLES AND RATIFICATION
Section 1.1. Short Title. This 1991 Ordinance may be cited by the short
title, "Nineteenth Supplemental Regional.Airport Concurrent Bond Ordinance."
Section 1.2. Adoption of Preambles. All of the declarations and findings
contained in the preambles of this 1991 Ordinance are made a part hereof and
shall be fully effective as a part of the ordained subject matter of this 1991
Ordinance.
Section 1.3. Ratification. All action heretofore taken (not inconsistent
with the provisions hereof) by the Cities, by the Board and by the employees and
officers of each directed toward the Airport and the issuance of the bonds
herein authorized is hereby ratified, approved and confirmed.
ARTICLE II
DEFINITIONS AND CONSTRUCTION
Section 2.1. Adoption of Definitions. The definitions set forth in
Article II of the 1968 Ordinance are made a part hereof and shall be as fully
effective as part of'the subject matter of this 1991 Ordinance as if repeated
in full herein.
Section 2.2. Additional Definitions. In addition to the definitions set
forth in the said 1968 Ordinance, the terms defined in this Section for all
purposes of this 1991 Ordinance and of any ordinance amendatory hereof, supple-
mental or relating hereto, and of any instruments or documents appertaining
hereto, except where the context by clear implication shall otherwise require,
shall have the respective meanings herein specified as follows, to -wit:
"COSTS OF THE 1991 PROJECT" shall mean the Costs of the Airport related
to the construction of the 1991 Project and the financing related thereto.
"MASTER PLAN" shall mean and refer to the Airport's Master Plan of
Development adopted on September 30, 1969, as amended from time -to -time.
"1968 ORDINANCE" shall mean and refer to the 1968 Regional Airport
Concurrent Bond Ordinance passed by the City Councils of the Cities,
respectively, on November 11, 1968 and November 12, 1968.
"1972 ORDINANCE" shall mean and refer to the Fifth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on March 6, 1972.
"1976 ORDINANCE" shall mean and refer to the Seventh Supplemental Regional
Airport Concurrent„ Bond .Ordinance passed by the City Councils of the
Cities on October 20, 1976, as amended November 8, 1976.
"1977 ORDINANCE" shall mean and refer to the Eighth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on August 30 and August 31, 1977.
"1978 ORDINANCE" shall mean and refer to the Ninth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on April 4 and April 5, 1978.
"1982 ORDINANCE" shall mean and refer to the Tenth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on March 3, 1982.
Minutes of City Council S-3 Page 452
r-
`_1 ki
Tuesday, October 8, 1991
"1982A ORDINANCE" shall mean and refer to the Eleventh Supplemental
Ordinance No. Regional Airport Concurrent Bond Ordinance passed by the City Councils of
10927 cont. the Cities on November 16 and November 17, 1982.
"1984 ORDINANCE" shall mean and refer to the Twelfth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on September 11 and September 12, 1984.
"1984A ORDINANCE" shall mean and refer to the Thirteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on October 9 and October 10, 1984.
"1985 ORDINANCE" shall mean and refer to the Fourteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on December 3 and December 4, 1985.
"1987 ORDINANCE" shall mean and refer to the Fifteenth Supplemental
Regional Airport concurrent Bond Ordinance passed by the City Councils of
the Cities on October 6 and 7, 1987.
"1991 ORDINANCE" shall mean and refer to the Nineteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on October 8 and October 9, 1991.
"1991A ORDINANCE" shall mean and refer to the Twentieth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on October 8 and October 9, 1991.
"1992 ORDINANCE" shall mean and refer to the Sixteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on September 11 and 12, 1990.
"1992A ORDINANCE" shall mean and refer to the Eighteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on November 13 and 14, 1990.
"1994 ORDINANCE" shall mean and refer to the Seventeenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on September 11 and 12, 1990.
"1991 PROJECT" shall mean those terminal airfield and support facilities
and related improvements at the Airport which conform to the Master Plan,
or will conform to the Master Plan as revised, to be constructed with part
of the proceeds of the Series 1991 Bonds.
"OUTSTANDING BONDS" shall mean the outstanding Dallas -Fort Worth Regional
Airport Joint Revenue Bonds, Series 1972, authorized by the 1972
Ordinance, the Dallas -Fort Worth Regional Airport Joint Revenue Refunding
Bonds, Series 1976, authorized by the 1976 Ordinance, the Dallas -Fort
Worth Regional Airport Joint Revenue Construction and Refunding Bonds,
Series 1977, authorized by the 1977 Ordinance, the Dallas -Fort Worth
Regional Airport Joint Revenue Bonds, Series 1978, authorized by the 1978
Ordinance, the Dallas -Fort Worth Regional Airport Joint Revenue Bonds,
Series 1982A, authorized by the 1982A Ordinance, the Dallas -Fort Worth
Regional Airport Joint Revenue Bonds, Series 1984, authorized by the 1984
Ordinance, the Dallas -Fort Worth Regional Airport Joint Revenue Refunding
Bonds, Series 1984A, authorized by the 1984A Ordinance, the Dallas -Fort
Worth Regional Airport Joint Revenue Bonds, Series 1985, authorized by the
1985 Ordinance, the Dallas -.Fort Worth Regional Airport Joint Revenue
Refunding Bonds, Series 1987, authorized by the 1987 Ordinance, the
Dallas -Fort Worth Regional Airport Joint Revenue Bonds, Series 1991,
authorized by the 1991 Ordinance and the Dallas -Fort Worth Regional
Airport Joint Revenue Bonds, Series 1991A authorized by the 1991A
Ordinance and shall also mean the Dallas -Fort Worth Regional Airport Joint
Revenue Refunding Bonds, Series 1992 heretofore authorized and issued, the
Dallas -Fort Worth Regional Airport Joint Revenue Refunding Bonds, Series
1992A heretofore authorized and issued and the Dallas -Fort Worth Regional
Airport Joint Revenue Refunding Bonds, Series 1994 heretofore authorized
and issued once such series of Bonds are delivered and outstanding.
"PAYING AGENT/REGISTRAR" shall mean NCNB Texas National Bank, with respect
to the Series 1991 Bonds or any successor appointed pursuant to the
provisions of Section 3.4 hereof.
"REFUNDING BONDS" shall mean any refunding bonds issued pursuant to
Section 8.6 of the 1968 Ordinance for the purpose of refunding any Bonds
outstanding.
"SERIES 1972 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1972, authorized by the 1972 Ordinance.
Minutes of City Council S-3 Page 453
45-1
Tuesday, October 8, 1991
"SERIES 1976 BONDS" shall mean the Dallas -Fort Worth Regional Airport
rdinance No. Joint Revenue Refunding Bonds, Series 1976, authorized by the 1976
0927 cont. Ordinance.
"SERIES 1977 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Construction and Refunding Bonds, Series 1977, authorized
by the 1977 Ordinance.
"SERIES 1978 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1978, authorized by the 1978 Ordinance.
"SERIES 1982 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1982, authorized by the 1982 Ordinance.
"SERIES 1982A BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1982A, authorized by the 1982A Ordinance.
"SERIES 1984 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1984, authorized by the 1984 Ordinance.
"SERIES 1984A BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1984A, authorized by the 1984A
Ordinance.
"SERIES 1985 BONDS" shall 'mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1985, authorized by the 1985 Ordinance.
"SERIES 1987 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1987, authorized by the 1987
Ordinance.
"SERIES 1991 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1991, authorized by the 1991 Ordinance.
"SERIES 1991A BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1991A, authorized by the 1991A Ordinance.
"SERIES 1992 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1992, authorized by the 1992
Ordinance.
"SERIES 1992A BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1992A, authorized by the 1992A
Ordinance.
' "SERIES 1994 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1994, authorized by the 1994
Ordinance.
ARTICLE III
THE BONDS
Section 3.1. Authorization. So as to protect the public safety and in
order to promote and advance the general welfare of the citizens of Dallas and
Fort Worth and the North Central Texas region, itis hereby declared necessary
that the Cities issue, and the Cities hereby authorize and direct the issuance
of the Dallas -Fort Worth Regional Airport Joint Revenue Bonds, Series 1991, in
the aggregate principal amount of $19,850,000, pursuant to the provisions of
Article 46d, Article 1269]-5.1 and Article 717q V.A.T.C.S., as amended, for the
purpose of paying part of the Costs of the 1991 Project.
Section 3.2. Date, Denominations and Maturities. The Series 1991 Bonds
shall be dated October 1, 1991, shall be in the denomination of $5,000 each, or
any integral multiple thereof, shall be numbered consecutively from one upward
and shall mature and become due and payable on November 1 in the years and in
the amounts as follows:
Section 3.3. Interest Rates.
Minutes of City Council S-3 Page 454
Years
Amounts
Years
Amounts
1995
$100,000
2003
$ 550,000
1996
100,000
2004
585,000
1997
100,000
2005
625,000
1998
100,000
2006
660,000
1999
100,000
2011
4,010,000
2000
100,000—
2021
12,720,000
2002
100,000
Section 3.3. Interest Rates.
Minutes of City Council S-3 Page 454
Ordinance No.
10927 cont...
Tuesday, October 8, 1991
A. The Series 1991 Bonds shall bear interest from their date to their
stated maturities or earlier redemption at the following rates:
all
bonds
scheduled
to
mature
in
the
year
1995
...
5.15%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
1996
...
5.30%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
1997
...
5.50%.per
annum;
all
bonds
scheduled
to
mature
in
the
year
1998
...
5 5/8%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
1999
...
5.75%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2000
...
5 7/8%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2002
...
6.00%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2003
...
6 1/8%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2004
...
6.25%
per
annum;
all
bonds
scheduled
to
mature
in
the,year
2005
...
6.30%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2006
...
6.40%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2011
...
6.50%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2021
...
6.00%
per
annum;
Said interest shall be payable to the registered owner of any such Series
1991 Bond in the manner provided and on the dates stated in the Form of Bond set
forth in Section 3.6 hereof.
Section 3.4. Paying Agent/Registrar.
A. The Cities shall keep or cause to be kept initially at the office of
NCNB Texas National Bank in Fort Worth, Texas, or such other bank, trust
company, financial institution or other agency named in accordance with the
provisions of G. of this Section 3.4 hereof (the "Paying Agent/Registrar") books
or records of the registration and transfer of the Series 1991 Bonds (the
"Registration Books") and the Cities hereby appoint the Paying Agent/Registrar
as its registrar and transfer agent to keep such books or records and make such
transfers and registrations under such reasonable regulations as the Cities and
the Paying Agent/Registrar may prescribe; and the Paying Agent/Registrar shall
make such transfers and registrations as herein provided. It shall be the duty
of the Paying Agent/Registrar to obtain from the registered owner and record in
the Registration Books the address of such registered owner of each bond, and
such other information as may be required by law, to which payments with respect
to the Series 1991 Bonds shall be mailed, as herein provided. The Cities or
their designee shall have the right to inspect the Registration Books during
regular business hours of the Paying Agent/Registrar, but otherwise the Paying
Agent/Registrar shall keep the Registration Books confidential and, unless
otherwise required by law, shall not permit their inspection by any other
entity. Registration of each Series 1991 Bond may be transferred in the
Registration Books only upon presentation and surrender of such bond to the
Paying Agent/Registrar for transfer of registration and cancellation, together
with proper written instruments of assignment, in form and with guarantee of
signatures satisfactory to the Paying Agent/Registrar, evidencing the assignment
of the bond, or any portion thereof in any integral multiple of $5,000, to the
assignee or assignees thereof, and the right of such assignee or assignees to
have the bond or any such portion thereof registered in the name of such
assignee or assignees. Upon the assignment and transfer of any Series 1991 Bond
or any portion thereof, a new substitute bond or bonds shall be issued in
exchange therefor in the manner herein provided.
B. The entity in whose name any Series 1991 Bond shall be registered in
the Registration Books at any time shall be treated as the absolute owner
thereof for all purposes of this 1991 Ordinance, whether or not such bond shall
be overdue, and the Cities and the Paying Agent/Registrar shall not be affected
by any notice to the contrary; and payment of, or on account of, the principal
of, premium, if any, and interest on any such bond shall be made only to such
registered owner. All such payments shall be valid and effectual to satisfy and
discharge the liability upon such bond to the extent of the sum or sums so paid.
C. The Cities hereby further appoint the Paying Agent/Registrar to act
as the paying agent for paying the principal of and interest on the Series 1991
Bonds, and to act as its agent to exchange or replace Series 1991 Bonds, all as
provided in this 1991 Ordinance. The Paying Agent/Registrar shall keep proper
records of all payments made by the Cities and the Paying Agent/Registrar with
respect to the Series 1991 Bonds, and of all exchanges of such bonds, and all
replacements of such bonds, as provided in this 1991 Ordinance. The Paying
Agent/Registrar shall agree that, to the extent possible, it will transfer or
exchange bonds in no more than 3 business days after receipt of the Series 1991
Bonds to be transferred or exchanged, together with the written instrument of
transfer or request for exchange duly executed by the holder or his duly
authorized agent, in form satisfactory to the Paying Agent/Registrar.
D. Each Series 1991 Bond may be exchanged for fully registered bonds in
the manner set forth herein. Each bond issued and delivered pursuant to this
1991 Ordinance, to the extent of the unpaid or unredeemed principal balance or
principal amount thereof, may, upon surrender of such bond at the principal
corporate trust office of the Paying Agent/Registrar, together with a written
Minutes of City Council S-3 Page 455
-it
'130,
Tuesday, October 8, 1991
request therefor duly executed by the registered owner or the assignee or
Ordinance No. assignees thereof, or its or their duly authorized attorneys -or representatives,
10927 cont. with guarantee of signatures satisfactory to the Paying Agent/Registrar, at the
option of the registered owner or such assignee or assignees, as appropriate,
The exchanged for fully registered bonds, without interest coupons, in the form
prescribed in the Form of Bond set forth in this 1991 Ordinance, in the
denomination of $5,000, or any integral multiple of: $5,000 (subject to the
r.nn a requirement hereinafter stated that each substitute bond shall have a single
,,stated,maturity date), as requested in writing by such registered owner or such
assignee or assignees, in an aggregate principal amount equal to the unpaid or
unredeemed principal balance or principal amount of any Series 1991 Bond or
Bonds so surrendered, and payable to the appropriate registered owner, assignee
or assignees, as the case may be. If a portion of any Series 1991 Bond shall
be redeemed prior to its scheduled maturity as provided herein, a substitute
bond or bonds having the same maturity date, bearing interest at the same rate,
in the denomination or denominations of any integral multiple of $5,000 at the
request of the registered owner, and in an aggregate principal amount equal to
the unredeemed portion thereof, will be issued to the registered owner upon
surrender thereof for cancellation. If any Series 1991 Bond or portion thereof
is assigned and transferred, each bond issued in exchange therefor shall have
the same principal maturity date and bear interest at the same rate as the bond
for which it is being exchanged. Each substitute bond shall bear a letter
and/or number to distinguish it from each other bond. The Paying
Agent/Registrar shall exchange or replace Series 1991 Bonds as provided herein,
and each fully registered bond or bonds delivered in exchange for or replacement
of any Series 1991 Bond or portion thereof as permitted or required by any
provision of this 1991 Ordinance shall constitute one of the Series 1991 Bonds
for all purposes of this 1991 Ordinance, and may again be exchanged or replaced.
It is specifically provided, however, that any Series 1991 Bond delivered in
exchange for or replacement of another Series 1991 Bond prior to the first
scheduled interest payment date on the Series 1991 Bonds (as stated on the face
thereof) shall be dated October 1, 1991, but each substitute bond so delivered
.on or after such first scheduled interest payment date shall be dated as of the
interest payment date preceding the date on which such substitute bond is
delivered, unless such substitute bond is delivered on an interest payment date,
in which case it shall be dated as of such date of delivery; provided, however,
that if at the time of delivery of any substitute bond the interest on the bond
for which it is being exchanged has not been paid, then such substitute bond
shall be dated as of the date to which such interest has been paid in full. On
each substitute bond issued in exchange for or replacement of any Series 1991
Bond or Bonds issued under this 1991 Ordinance there shall be printed thereon
a Paying Agent/Registrar's Authentication Certificate, in the form hereinafter
set forth. An authorized representative of the Paying Agent/Registrar shall,
before the delivery of any such substitute bond, date such substitute bond in
the manner set forth above, and manually sign and date such Certificate, and no
such substitute bond shall be deemed to be issued or outstanding unless such
Certificate is so executed. The Paying Agent/Registrar promptly shall cancel
all Series 1991 Bonds surrendered for exchange or replacement. No additional
ordinances, orders or resolutions need be passed or adopted by the City Council
or any other body or person so as to accomplish the foregoing exchange or
replacement of any Series 1991 Bond or portion thereof, and the Paying
Agent/Registrar shall provide for the printing, execution and delivery of the
substitute bonds in the manner prescribed herein. Pursuant to Article 717k-6,
M.T.C.S., and particularly Section 6 thereof, the duty of exchange or
replacement of any Series 1991 Bonds as aforesaid is hereby imposed upon the
Paying Agent/Registrar, and, upon the execution of the above Paying
Agent/Registrar's Authentication Certificate, the exchanged or replaced bond
;:.shall be valid, incontestable and enforceable in the same manner and with the
same effect as the Series 1991 Bonds which originally were delivered pursuant
to this 1991 Ordinance, approved by the Attorney General, and registered by the
Comptroller of Public Accounts. Neither the City nor the Paying Agent/Registrar
shall be required to transfer or exchange any Series 1991 Bond selected for
redemption when such redemption is scheduled to occur within 45 calendar days;
provided, however, such limitation shall not apply to an exchange by the holder
of an unredeemed balance of a Series 1991 Bond called for redemption in part.
E. All Series 1991 Bonds issued in exchange or replacement of any other
Series 1991 Bond or portion thereof, (i) shall be issued in fully registered
form, without interest coupons, with the principal of and interest on such
Series 1991 Bonds to be payable only to the registered owners thereof, (ii) may
be redeemed prior to their scheduled maturities, (iii) may be transferred and
assigned, (iv) may be exchanged for other Series 1991 Bonds, (v) shall have the
characteristics, (vi) shall be signed and sealed, and (vii) the principal of and
interest on the Series 1991 Bonds shall be payable, all as provided, and in the
manner required or indicated, in the Form of Bond set forth in this 1991
Ordinance.
If any of the officers who shall have signed or sealed any of the Series
1991 Bonds or whose facsimile signature shall be upon the Series 1991 Bonds
shall cease to be such officer of the Cities before the Series 1991 Bond so
Minutes of City Council S-3 Page 456
Tuesday, October 8, 1991
rdin ance No.' signed and sealed shall have been authenticated by the Paying Agent/Registrar
0927 cont. or delivered, such Series 1991 Bonds nevertheless may be authenticated, issued
and delivered with the same force and effect as if the person or persons who
signed or sealed such Series 1991 Bonds or whose facsimile signature shall be
upon the Series 1991 Bonds had not ceased to be such officer of the Cities; and
any such Series 1991 Bond may be signed and sealed on behalf of the Cities by
those persons who, at the actual date of the execution of such Series 1991
Bonds, shall be the proper officers of the Cities, although at the date of
authentication of such Series 1991 Bond any such persons shall not have been
such officer of the Cities.
F. The Cities, acting by and through the Board, shall pay the Paying
Agent/Registrar's reasonable and customary fees and charges for making transfers
and exchanges of Series 1991 Bonds, but the registered owner of any Series 1991
Bond requesting such transfer or exchange shall pay any taxes or other
governmental charges required to be paid with respect thereto. In addition, the
Cities hereby covenant with the registered owners of the Series 1991 Bonds that
they will (i) pay the reasonable and standard or customary fees and charges of
the Paying Agent/Registrar for its services with respect to the payment of the
principal of and interest on the Series 1991 Bonds, when due, and (ii) pay the
fees and charges of the Paying Agent/Registrar for services with respect to the
transfer, exchange or registration of Series 1991 Bonds solely to the extent
above provided.
G. The Cities covenant with the registered owners of the Series 1991
Bonds that at all times while the Series 1991 Bonds are outstanding the Cities
will provide a competent and legally qualified bank, trust company, financial
institution or other agency to act as and perform the services of Paying
Agent/Registrar for the Series 1991 Bonds under the 1991 Ordinance, and that the
Paying Agent/Registrar will be one entity. The Cities reserve the right to, at
their option, change the Paying Agent/Registrar upon not less than 60 days
written notice to the Paying Agent/Registrar. In the event that the entity at
any time acting as Paying Agent/Registrar (or its successor by merger,
acquisition, or other method) should resign or otherwise cease to act as such,
the Cities covenant that they promptly will appoint a competent and legally
qualified national or state banking institution which shall be a corporation
organized and doing business under the laws of the United States of America or
of any state, authorized under such laws to exercise trust powers, subject to
supervision or examination by federal or state authority, and whose
qualifications substantially are similar to the previous Paying Agent/Registrar
to act as Paying Agent/Registrar under the 1991 Ordinance. Upon any change in
the Paying Agent/Registrar, the previous Paying Agent/Registrar promptly shall
transfer and deliver the Registration Books (or a copy thereof), along with all
other pertinent books and records relating to the Series 1991 Bonds, to the new
Paying Agent/Registrar designated and appointed by the Cities. Upon any change
in the Paying Agent/Registrar, the Cities promptly will cause a written notice
thereof to be sent by the new Paying Agent/Registrar to each registered owner
of the Series 1991 Bonds, by United States Mail, postage prepaid, which notice
also shall give the address of the new Paying Agent/Registrar. By accepting the
position and performing as such, each Paying Agent/Registrar shall be deemed to
have agreed to the provisions of the 1991 Ordinance, and a certified copy of the
1991 Ordinance shall be delivered to each Paying Agent/Registrar.
H. The Series 1991 Bonds herein authorized shall be issued initially as
one fully registered bond (the "Initial Bond") in the principal amount of
$19,850,000 with principal installments to become due and payable as provided
in Section 3.2 hereof, bearing interest as described in Section 3.3 hereof, and
numbered T-1, and registered in the name of Lehman Brothers. The Initial Bond
shall be manually signed and shall be submitted to the Office of the Attorney
General of the State of Texas.
I. The Series 1991 Bonds issued in exchange for the Series 1991 Bonds
initially issued to the purchaser specified herein shall be initially issued in
the form of a separate single fully registered Series 1991 Bond for each of the
maturities thereof. The Board is hereby authorized to enter into a
representation letter with respect to establishing a book -entry only system for
the Series 1991 Bonds. Upon initial issuance, the ownership of each such Series
1991 Bond shall be registered in the name of Cede & Co., as nominee of The
Depository Trust Company of New York ("DTC"), and except as provided in
subsection (H) hereof, all of the outstanding Series 1991 Bonds shall be
registered in the name of Cede & Co., as nominee of DTC. With respect to the
Series 1991 Bonds registered in the name of Cede & Co., as nominee of DTC, the
Cities, the Board and the Paying Agent/Registrar shall have no responsibility
or obligation to any DTC Participant or to any person on behalf of whom such a
DTC Participant holds an interest in the Bonds. Without limiting the
immediately preceding sentence, the Cities, the Board and the Paying
Agent/Registrar shall have no responsibility or obligation with respect to (i)
the accuracy of the records of DTC, Cede & Co. or any DTC Participant with
respect to any ownership interest in the Bonds, (ii) the delivery to any DTC
Participant or any other person, other than a Bondholder, as shown on the
Minutes of City Council S-3 Page 457
Tuesday, October 8, 1991
Registration Books, of any notice with respect to the Bonds, including any
Ordinance No. notice of redemption, or (iii) the payment to any DTC Participant or any other
10927 cont. person, other than a registered owner, as shown in the Registration Books of any
amount with respect to principal of, premium, if any, or interest on, as the
case may be, the Series 1991 Bonds. Notwithstanding any other provision of this
Series 1991 Ordinance to the contrary, the Cities, the Board and the Paying
Agent/Registrar shall be entitled to treat and consider the person in whose name
each Bond is registered in the Registration Books as the absolute owner of such
Series 1991 Bond for the purpose of payment of principal, premium, if any, and
interest, as the case may be, with respect to such Series 1991 Bond, for the
purpose of giving notices of redemption and other matters with respect to such
Series 1991 Bond, for the purpose of registering transfers with respect to such
Series 1991 Bond, and for all other purposes whatsoever. The Paying
Agent/Registrar shall pay all principal of, premium, if any, and interest on the
Series 1991 Bonds only to or upon the order of the respective registered owners,
as shown in the Registration Books as provided in the Series 1991 Ordinance, or
their respective attorneys duly authorized in writing, and all such payments
shall be valid and effective to fully satisfy and discharge the Cities'
obligations with respect to payment of principal of,' premium, if any, and
interest on, or as the case may be, the Series 1991 Bonds to the extent of the
sum or sums so paid. No person other than a registered owner, as shown in the
Registration Books, shall receive a Bond certificate evidencing the obligation
of the Cities to make payments of principal, premium, if any, and interest, as
the case may be, pursuant to this Series 1991 Ordinance. Upon delivery by DTC
to the Paying Agent/Registrar of written notice to the effect that DTC has
determined to substitute a new nominee in place of Cede & Co., and subject to
the provisions in this Series 1991 Ordinance with respect to interest checks
being mailed to the registered owners at the close of business on the Record
Date, the term "Cede & Co." in this Series 1991 Ordinance shall refer to such
new nominee of DTC.
J. In the event that the Cities, the Board or the Paying Agent/
Registrar determine that DTC is incapable of discharging its responsibilities
described herein and in the representation letter of the Board to DTC and that
it is in the best interest of the beneficial owners of the Bonds that they be
able to obtain certificated Series 1991 Bonds, the Board or the Paying
Agent/Registrar shall (i) appoint a successor securities depository, qualified
to act as such under Section 17 (a) of the Securities and Exchange Act of 1934,
as amended, notify DTC and DTC Participants of the appointment of such successor
securities depository and transfer one or more separate Series 1991 Bonds to
such successor securities depository or (ii) notify DTC and DTC Participants of
the availability through DTC of Series 1991 Bonds and transfer one or more
separate Series 1991 Bonds to DTC Participants having Series 1991 Bonds credited
to their DTC accounts. In such event, the Series 1991 Bonds shall no longer be
restricted to being registered in the Registration Books in the name of Cede &
Co., as nominee of DTC, but may be registered in the name of the successor
securities depository, or its nominee, or in whatever name or names registered
owners transferring or exchanging Series 1991 Bonds shall designate, in
accordance with the provisions -of this Series 1991 Ordinance.
K. Notwithstanding any other provision of this Series 1991 Ordinance
to the contrary, so long as any Series -1991 Bond is registered in the name of
Cede & Co., as nominee of DTC, all payments with respect to the principal of,
premium, if any, and interest on, or as the case may be, such Series 1991 Bond
and all notices with respect to such Series 1991 Bond shall be made and given,
respectively, in the manner provided in the representation letter of the Board
to DTC.
Section 3.5. Prior Redemption.
A. The Series 1991 Bonds (other than the Series 1991 Bonds maturing
November 1, 2021) shall be redeemable at the election of the Cities from any
�. available moneys other than moneys on deposit in the Interest and Sinking Fund,
hereinafter described, on November 1, 2000, or on any date thereafter, at the
respective Redemption Prices (expressed as percentages of the principal amount)
set forth below, together with accrued interest to the redemption date:
Period during which redeemed Redemption
(both dates inclusive) Price %
November 1, 2000 - October 31, 2001 102%
November 1, 2001 - October 31, 2002 101
November 1, 2002 and thereafter 100
The Series 1991 Bonds maturing November 1, 2021 shall be redeemable at the
election of the Cities from any available moneys other than moneys on deposit
in the Interest and Sinking Fund, hereinafter described, on November 1, 2000 or
on any date thereafter at a Redemption Price equal to the principal amount
thereof together with accrued interest to the redemption date.
Minutes of City Council S-3 Page 458
Tuesday, October 8, 1991
If the Cities shall elect to optionally redeem less than all of the outstanding
rdi nance No. Series 1991 Bonds of a maturity, the selection of Series 1991 Bonds for optional
09 27 cont. redemption within a maturity shall be done by the Paying Agent/Registrar by lot
or another random method of selection as determined by the Paying
Agent/Registrar.
B. The Series 1991 Bonds maturing November 1, 2011 shall be redeemed
prior to stated maturity in part by lot on November 1 in each of the years 2007
through 2010 and the Series 1991 Bonds maturing on November 1, 2021 shall be
redeemed prior to stated maturity in part by lot on November 1 in each of the
years 2012 through 2020 from moneys required by Section 6.3C of this Ordinance
to be deposited to the credit of the Interest and Sinking Fund at the principal
amount thereof and accrued interest to date of redemption, without premium.
C. At least thirty (30) days before the date fixed for any such
redemption, the Board, acting on behalf of the Cities, shall cause a written
notice of such redemption to be given to the registered owner of each Series
1991 Bond or a portion thereof being called for redemption by depositing such
notice in the United States Mail, postage prepaid, addressed to each such owner
at the address appearing on the Registration Books maintained by the Paying
Agent/Registrar. With respect to any registered owner of $10,000,000 or more
of bonds of this series, such notice shall be sent by Certified Mail with Return
Receipt. By the date fixed for any such redemption, due provision shall be made
with the Paying Agent/Registrar for the payment of the principal amount of the
Series 1991 Bonds to be so redeemed, plus any applicable premium thereon, and
accrued interest thereon to the date fixed for redemption. If such written
notice of redemption is given, and if due provision for payment is made, all as
provided above, the Series 1991 Bonds, or the portions thereof which are to be
so redeemed, thereby automatically shall be redeemed prior to maturity, and they
shall not bear interest after the date fixed for redemption, and shall not be
regarded as being outstanding except for the purpose of receiving the funds so
provided for such payment. The Paying Agent/Registrar shall record in the
Registration Books all such redemptions of principal of the Series 1991 Bonds
or any portion thereof. If a portion of any Series 1991 Bond shall be redeemed
a substitute Series 1991 Bond or Series 1991 Bonds having the same maturity
date, bearing interest at the same rate, in any denomination or denominations
in any integral multiple of $5,000, at the written request of the registered
owner, and in an aggregate principal amount equal to the unredeemed portion
thereof, will be issued to the registered owner upon the surrender thereof for
cancellation, at the expense of the Cities, all as provided in the 1991
Ordinance.
D. The redemption notice required by Section 3.5C shall include the
complete official name of the Series 1991 Bonds including the series
designation, the CUSIP numbers, interest. rates, maturity dates and amount of
principal per maturity date to be redeemed and the applicable redemption price
of prices on a specified redemption date. Such notice shall also contain the
name, address and phone number of a contact person at the Paying Agent/Registrar
to whom inquiries can be addressed.
E. The Paying Agent/Registrar shall cause to be forwarded by United
States Mail to Moody's Investors Service, Inc., Standard & Poor's Corporation,
The Bond Buyer and any registered bond depository holding any of the Bonds, at
their respective last known addresses, a copy of the text of the notice referred
to in Section 3.5D. The copy of the notice sent to each registered bond
depository' shall be sent by tested telex, facsimile, express mail or other
express delivery service so that such registered bond depository will receive
the copy of such notices at least two days prior to the date such notice is
received by other registered owners. The failure of the Paying Agent/Registrar
to mail or cause to be mailed or transmit or cause to be transmitted a copy of
any such notice to any or all said firms shall not invalidate any such
redemption.
F. The, Paying Agent/Registrar shall- send to each registered owner
indicated omits records as having failed to present such redeemed Series 1991
Bonds as of sixty days after the redemption date another copy of such redemption
notice by the same method as the original notice pursuant to Section 3.5C;
provided, however, that failure to send such additional notice shall not
invalidate any such redemption.
G. The Board, acting on behalf of the Cities, shall at least forty-five
(45) days before the date fixed for any such redemption conduct the selection
of the Series 1991 Bonds or portions thereof to be redeemed so that restrictions
can be imposed by the Paying Agent/Registrar with respect to transfers and
exchanges as provided in Section 3.4D. hereof.
Section 3.6. Forms. The form of all Series 1991 Bonds, including the
form of the Paying Agent/Registrar's Certificate, the Form of Assignment, and
the form of the Registration Certificate of the Comptroller of Public Accounts
of the State of Texas to accompany the Series 1991 Bonds on the initial delivery
Minutes of City Council S-3 Page 459
Tuesday, October 8, 1991
thereof, and shall be, respectively, substantially as follows, with such
Ordinance No. necessary and appropriate variations, omissions and insertions as permitted or
10927 cont. required by the 1991 Ordinance, to -wit:
(FORM OF BOND)
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTIES OF DALLAS AND TARRANT
DALLAS -FORT WORTH REGIONAL AIRPORT
JOINT REVENUE BOND
Series 1991
Dated: October 1, 1991
MATURITY DATE INTEREST RATE ORIGINAL ISSUE DATE CUSIP
Registered Owner:
Principal Amount:
On the Maturity Date specified above, the Cities of Dallas and Fort Worth
(herein collectively called the "Cities") municipal corporations duly
incorporated under the laws of the State of Texas, for value received, hereby
jointly promise to pay to the Registered Owner shown above, or to the registered
assignee hereof (either being hereinafter called the "registered owner") solely
from the revenues and funds described herein, the principal amount shown above
and to pay interest thereon, from the Original Issue Date specified above, to
the date of its scheduled maturity or the date of its redemption prior to
scheduled maturity, at the rate of interest per annum specified above, with said
interest being payable on May1, 1992, and semiannually on each November 1 and
May 1 thereafter, except that if the Paying Agent/Registrar's Authentication
Certificate appearing on the face of this bond is dated later than May 1, 1992,
such interest is payable semiannually on each May 1 and November 1 following
such date.
The terms and provisions of this bond are continued on the reverse side
hereof and shall for all purposes have the same effect as though fully set forth
at this place.
* The principal of and interest on this bond are payable in lawful money of
the United States of America, without exchange or collection charges. The
principal of this bond shall be paid to the registered owner hereof upon
presentation and surrender of this bond at maturity or upon the date fixed for
its redemption prior to maturity, at the trust office of NCNB Texas National
Bank, in Dallas, Texas, which is the initial "Paying Agent/Registrar" for this
bond. The payment of interest on this bond shall be made by the Paying
Agent/Registrar to the registered owner hereof as shown by the Registration
Books kept by the Paying Agent/Registrar at the close of business on the "Record
Date," which is the 15th day of the month next preceding such interest payment
date by check drawn by the Paying Agent/Registrar on, and payable solely from,
funds of the Cities required to be on deposit with the Paying Agent/Registrar
for such purpose as hereinafter provided; and such check shall be sent by the
Paying Agent/Registrar by United States mail ,'postage prepaid, on each such
interest payment date, to the registered owner hereof at its address as it
appears on the Registration. Books kept by the Paying Agent/Registrar, as
hereinafter described or, in lieu of payment by check, by such other method,
separately agreed to in writing by the Paying Agent/Registrar and the holder
hereof with the risk and expense thereof to be borne solely by the holder. In
the event of a non-payment of interest on one or more maturities on a scheduled
payment date, and for 30 days thereafter, a new Record Date for such interest
payment for such maturity or maturities (a "Special Record Date") will be
established by the Paying Agent/Registrar, if and when funds for the payment of
such interest have been received. Notice of the Special Record Date and of the
scheduled payment date of the past due interest (the "Special Payment Date"
which shall be 15 days after the Special Record Date) shall be sent at least
five business days prior to the Special Record Date by United States mail, first
class, postage prepaid, to the address of each holder of a bond of such maturity
or maturities appearing on the books of the Paying Agent/Registrar at the close
of business on the last business day next preceding the date'of mailing of such
notice. The Cities covenant with the registered owner of this bond that no
later than each principal payment date and interest payment date for this bond
they will make available to the Paying Agent/Registrar, solely from the revenues
and funds described herein, the amounts required to provide for the payment, in
immediately available funds, of all principal of and interest on the bonds, when
due.
Minutes of City Council S-3 Page 460
46-1
Tuesday, October 8, 1991
* If the date for the payment of the principal of or interest on this bond
Ordinance No. shall be a Saturday, Sunday, a legal holiday or a day on which banking
10927 cont. institutions in the city where the Paying Agent/Registrar is located are
authorized by law or executive order to close, then the date for such payment
shall be the next succeeding day which is not such a Saturday, Sunday, legal
holiday or a day on which banking institutions are authorized to close; and
payment on such date shall have the same force and effect as if made on the
original date payment was due.
* The bonds of this series (except for the bonds maturing November 1, 2021)
shall be redeemable at the election of the Cities from any available moneys,
other than moneys on deposit in the Interest and Sinking Fund, hereinafter
described, on November 1, 2000 or on date thereafter, at the respective
Redemption Prices (expressed as percentages of the principal amount) set forth
below, together with accrued interest to the redemption date:
Period during which redeemed Redemption
(both dates inclusive) Price (%)
November
1,
2000
- October, 31 2001
102%
November
1,
2001
- October 31, 2002
101'
November
1,
2002
and thereafter
100
* The Series 1991 Bonds maturing November 1, 2021 shall be redeemable at the
election of the Cities from any available moneys other than moneys on deposit
in the Interest and Sinking Fund, hereinafter described, on November 1, 2000 or
on any date thereafter at a Redemption Price equal. to the principal amount
thereof together with accrued interest to the redemption date.
* If the Cities shall elect to optionally redeem less than all of the
outstanding Series 1991 Bonds of.a maturity, the selection of Series 1991 Bonds
for optional redemption within a maturity shall be done by the Paying
Agent/Registrar by lot or another random method of selection as determined by
the Paying Agent/Registrar.
* The bonds maturing November 1, 2011 shall be redeemed prior to stated
maturity in part by lot on November 1, in each of the years 2007 through 2010
and the bonds maturing on November 1, 2021 shall be redeemed prior to stated
maturity in part by lot on November 1, in each of the years 2012 through 2020,
from moneys required to be deposited to the credit of the Interest and Sinking
Fund at the principal amount thereof and accrued interest to date of redemption,
without premium.
* At least thirty (30) days before the date fixed for any such redemption,
the Dallas -Fort Worth International Airport Board (the "Board"), acting on
behalf of the Cities, shall cause a written notice of such redemption to be
given to the registered owner of each Bond or a portion thereof being called for
redemption by depositing such notice in the United States mail, postage prepaid,
addressed to each such registered owner at the address appearing on the
Registration Books maintained by the Paying Agent/Registrar. With respect to
any registered owner of $10,000,000 or more of bonds of this series, such notice
shall be sent by Certified Mail, with a Return Receipt. By the date fixed for
any such redemption, due provision shall be made with the Paying Agent/Registrar
for the payment of the principal amount of the bonds to be so redeemed, the
premium, if any, and accrued interest thereon to the date fixed for redemption.
If such written notice of redemption is given, and if due provision for payment
is made, all as provided above, the bonds, which are to be so redeemed, thereby
automatically shall be redeemed prior to maturity, and they shall not bear
interest after the date fixed for redemption, and they shall not be regarded as
being outstanding except for the purpose of receiving the funds so provided for
such payment. The Paying Agent/Registrar shall record in the Registration Books
all such redemptions of principal of this bond or any portion hereof. If a
portion of any bond shall be redeemed a substitute bond or bonds having the same
maturity date, bearing interest at the same rate, in any denomination or
denominations in any integral multiple of $5,000, at the written request of the
registered owner, and in aggregate principal amount equal to the unredeemed
portion thereof, will be issued to the registered owner upon the surrender
thereof for cancellation, at the expense of the Cities.
* The bonds of this series are issued under and pursuant to the laws of the
State of Texas and an ordinance passed concurrently on November 11 and November
12, 1968, respectively, by the City Councils of the Cities of Dallas and Fort.
Worth entitled "1968 Regional Airport Concurrent Bond Ordinance" (the "1968
Ordinance") and, together with any other "Bonds" (as defined in the 1968
Ordinance) heretofore or hereafter issued in accordance with the 1968 Ordinance
are equally and ratably secured by the revenues herein described.
* This bond is one of a duly authorized series of bonds of like tenor and
effect, except as to number, principal amount, interest rate, maturity and right
of prior redemption, aggregating $19,850,000, issued by the Cities for the
Minutes of City Council S-3 Page 461
Tuesday, October 8, 1991
purpose of paying the Costs of the 1991 Project, such term contemplating and
Ordinance No. relating to the construction of the improvements to the Dallas -Fort Worth
10927 cont. International Airport pursuant to the Nineteenth Supplemental Regional Airport
Concurrent Bond Ordinance (the "Nineteenth Supplemental Ordinance") adopted by
the City Councils of said Cities supplemental to the 1968 Ordinance. For the
purpose of providing for and securing the payment of the Bonds including this
series of bonds, the Cities have jointly pledged their respective interests in
the "Pledged Revenues" to be derived from the ownership and operation of the
Dallas -Fort Worth International Airport. Such Pledged Revenues will be on
deposit from time to time in various funds created by the 1968 Ordinance and
Ordinances supplemental thereto. Pledged Revenues are defined in the 1968
Ordinance to be the "Gross Revenues" of said Airport less the amount required
to pay the Senior Lien Bonds which matured and were paid on October 1, 1990.
Reference is made to the 1968 Ordinance, as supplemented, and the ordinance
authorizing this series of bonds for the definition of Gross Revenues and for
a description of the revenues and funds charged with and pledged to the payment
of the interest on and principal of the Bonds and the series of bonds of which
this bond is one, the nature and extent of the security thereof, a statement of
the rights, duties and obligations of each of the Cities, respectively, the
rights and remedies of bondholders in the event of default thereunder, and the
rights and priorities of the holders of said bonds, to all the provisions of
which the holder hereof by the acceptance of this bond assents and agrees.
* As provided in the 1968 Ordinance, the obligations of the Cities to pay
money hereon out of Pledged Revenues are joint, and not several, and except as
otherwise provided therein no claim, demand, suit or judgment shall ever be
asserted, entered or collected against or from one City without the other and
no individual liability shall ever exceed in the case of Dallas 7/11ths of the
total amount thereof, and in the case of Fort Worth 4/11ths of the total amount
thereof, and, except as otherwise provided in the 1968 Ordinance, such sums
shall be payable and collectable solely from the funds in which Pledged Revenues
shall from time to time be on deposit.
* The 1968 Ordinance, as supplemented, provides that, to the extent therein
stated, the Board, acting on behalf of the Cities, shall fix and shall from time
to time revise the rate of compensation for use of and for services rendered by
or at the Dallas -Fort Worth International Airport which will be fully sufficient
to produce Pledged Revenues adequate to pay the operation and maintenance
expenses thereof plus 1.25 times the amounts required to be deposited to the
credit of the Interest and Sinking Fund (established by the 1968 Ordinance) for
the payment of the principal of and interest on the parity Bonds from time to
time outstanding thereunder as the same shall become due and payable and to
timely purchase or redeem such Bonds prior to maturity as required therein. It
is further provided in said Ordinance that to the extent Pledged Revenues are
not adequate for said purposes and for the additional purpose of properly and
adequately maintaining and operating said Airport, the Cities pledge and
obligate themselves to levy and collect the ad valorem tax defined therein as
the "Maintenance Tax," and to devote the proceeds thereof to the purpose of
operating and maintaining said Airport in lieu of using revenues for said
purpose, subject at all times to the limits of said tax provided by law and in
said Ordinance. As further provided in said Ordinance, the obligations of the
Cities to levy and collect such tax are several, and not joint, and no action,
claim, suit or demand shall be made against one City for the default of the
other, each City's respective obligation being limited to the collection of its
proportionate amount required from said tax for such purposes, all as specified
in said Ordinance.
* The registered owner hereof shall never have the right to demand payment
of this obligation out of any funds raised or to be raised by taxation.
* All bonds of this series are issuable solely as fully registered bonds,
without interest coupons, in the denomination of any integral multiple of
$5,000. As provided in the Nineteenth Supplemental Ordinance, this bond, or any
unredeemed portion hereof, may, at the request of the registered owner or the
assignee or assignees hereof, be assigned, transferred and exchanged for a like
aggregate principal amount of fully registered bonds, without interest coupons,
payable to the appropriate registered owner, assignee or assignees, as the case
may be, having the same maturity date, and bearing interest at the same rate,
in any denomination or denominations in any integral multiple of $5,000 as
requested in writing by the appropriate registered owner, assignee or assignees,
as the case may be, upon surrender of this bond to the Paying Agent/Registrar
for cancellation, all in accordance with the form and procedures set forth in
the Ordinance. Among other requirements for such assignment and transfer, this
bond must be presented and surrendered to the Paying Agent/Registrar, together
with proper instruments of assignment, in form and with guarantee of signatures
satisfactory to the Paying Agent/Registrar, evidencing assignment of this bond
or any portion or portions hereof in any integral multiple of $5,000 to the
assignee or assignees in whose name or names this bond or any such portion or
portions hereof is or are to be transferred and registered. The form of
assignment printed or endorsed on this bond may be executed by the registered
Minutes of City Council S-3 Page 462
,63
Tuesday, October 8, 1991 1
owner to evidence the assignment hereof, but such method is not exclusive, and
Ordinance No. other instruments of assignment satisfactory to the Paying Agent/Registrar may
10927 cont. be used to evidence the assignment of this bond or any portion or portions
hereof from time to time by the registered owner. In the case of an assignment,
transfer or exchange of a bond or bonds or any portion or portions thereof, the
fees and charges of the Paying Agent/Registrar will be paid by the Cities, but
any taxes or governmental charges required to be paid with respect thereto shall
be paid by the one requesting such assignment, transfer or exchange as a
condition precedent to the exercise of such privilege. In any circumstance,
neither the Cities nor the Paying Agent/Registrar shall be required to transfer
or exchange any bonds selected for redemption when such redemption is scheduled
to occur within 45 calendar days; provided, however, such limitation shall not
apply to an exchange by the holder of an unredeemed balance of a bond called for
redemption in part.
* In the event any Paying Agent/Registrar for the bonds is changed by the
Cities, resigns or otherwise ceases to act as such, the Cities have covenanted
in the Nineteenth Supplemental Ordinance that they promptly will appoint a
competent and legally qualified substitute therefor, whose qualifications
substantially are similar to the previous Paying Agent/Registrar it is
replacing, and promptly will cause written notice thereof to be mailed to the
registered owners of the bonds.
* By becoming the registered owner of this bond, the registered owner
thereby acknowledges all of the terms and provisions of the 1968 Ordinance, as
supplemented, agrees to be bound by such terms and provisions, acknowledges that
said Ordinance is duly recorded and available for inspection in the official
minutes and records of the Cities, and agrees that the terms and provisions of
this bond and said Ordinance constitute a contract between each registered owner
hereof and the Cities.
It is hereby certified and recited that all acts and things required by
the Constitution and laws of the State of Texas to be done, to exist and to be
performed precedent to and in the issuance of this bond and the series of which
it is one have been done, do exist and have been performed as so required.
IN WITNESS WHEREOF, the City Council of the City of Dallas, Texas, has
caused the facsimile seal of that City to be placed hereon and this bond to be
signed by the facsimile signature of its Mayor and countersigned by the
facsimile signatures of its Director of Finance and City Secretary; and the City
Council of the City of Fort Worth, Texas,'has caused the facsimile seal of that
City to be placed hereon and this bond to be signed by the facsimile signature
of its Mayor, countersigned by the facsimile signature of its City Secretary,
and approved as to form and legality by the facsimile signature byCity
Attorney.
COUNTERSIGNED:
Director of Finance,
City of Dallas, Texas
City Secretary,
City of Dallas, Texas
COUNTERSIGNED:
City Secretary,
City of Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
City Attorney,
City of Fort Worth, Texas
Mayor, City of Dallas, Texas
Mayor, City of Fort Worth, Texas
Minutes of City Council S-3 Page 463
Tuesday, October 8, 1991
Ordinance No. [FORM OF PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE]
10927 cont. PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
It is hereby certified that this bond has been issued under the provisions
of said Ordinance described.on the face of this bond; and that this bond has
been issued in exchange for or replacement of a bond, bonds, or a portion of a
bond or bonds of an issue which originally was approved by the Attorney General
of the State of Texas and registered by the Comptroller of Public Accounts of
the State of Texas.
Dated
Paying Agent/Registrar
By
Authorized Signature
* [FORM OF ASSIGNMENT]
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
(Please insert Social Security or. Taxpayer Identification Number of Transferee)
(Please print or type name and address, including zip code of Transferee)
the within Bond and all rights thereunder, and hereby irrevocably constitutes`
and appoints
attorney to register the transfer of the within Bond on the books kept for
registration thereof with full power of substitution in the premises.
Dated:
Signature Guaranteed:
NOTICE: Signature(s) must
be guaranteed by a member
firm of the New York Stock
Exchange or a commercial
bank or trust company.
NOTICE: The signature(s) above
must correspond with the name
of the Registered Owner as it
appears upon the front of this
Bond in every particular, with-
out alteration or enlargement
or any change whatsoever.
** [FORM OF COMPTROLLER'S CERTIFICATE ATTACHED TO
THE BONDS UPON INITIAL DELIVERY THEREOF]
OFFICE OF COMPTROLLER
STATE OF TEXAS
REGISTER NO.
I hereby certify that there is on file and of record in my office a
certificate of the Attorney General of the State of Texas to the effect that
this Bond has been examined by him as required by law, and that he finds that
it has been issued in conformity with the Constitution and laws of the State of
Texas, and that it is a valid and binding special obligation of the Cities of
Dallas and Fort Worth, Texas, payable in the manner provided by and in the
ordinance authorizing same, and said Bond has this day been registered by me.
Minutes of City Council S-3 Page 464
Ordinance No.
10927 cont.
(Seal)
'1165
Tuesday, October 8, 1991
WITNESS MY HAND and seal of office at Austin, Texas .
Comptroller of Public Accounts of the State of Texas
FORM OF INITIAL BOND
The Initial Bond shall be in the form set forth above, except that there
will be no Paying Agent/Registrar Certificate and the form of the single
fully registered Initial Bond shall be modified as follows:
(i) Immediately after the name of the Bond the headings "INTEREST RATE
" and "MATURITY DATE " shall be both completed with the
words "as shown below" and the headings "Original Issue Date",
"Cusip" and "Principal Amount" shall not appear thereon.
(ii) Paragraph one shall read as follows:
On the Maturity Dates specified below, the Cities of Dallas and Fort Worth
(herein collectively called the "Cities") municipal corporations duly
incorporated under the laws of the State of Texas, for value received, hereby
jointly promise to pay to the Registered Owner shown above, or to the registered
assignee hereof (either being hereinafter called the "registered owner") solely
from the revenues and the funds described herein, the principal amount as shown
below and to pay interest thereon at the interest rates shown below, from
October 1, 1991, to the dates of scheduled maturity or the date of its
redemption prior to scheduled maturity, with said interest being payable on May
1, 1992, and semiannually on each November 1 and May 1 thereafter.
MATURITY PRINCIPAL INTEREST
DATE AMOUNT RATE
(Information to be inserted from schedules
in Sections 3.2 and 3.3).
*11 to be on reverse of bond
**9 not to be on bond
ARTICLE IV
EXECUTION, APPROVAL, REGISTRATION, SALE
AND DELIVERY OF SERIES 1991 BONDS
Section 4.1. Method of Execution. Each of the Series 1991 Bonds shall
be signed and executed on behalf of the City of Dallas by the manual or
facsimile signature of its Mayor and countersigned by the manual or facsimile
signatures of its Director of Finance and City Secretary, and the corporate seal
of that City shall be impressed or printed or lithographed on each bond. Each
of the Series 1991 Bonds shall be signed and executed on behalf of the City of
Fort Worth by the manual or facsimile signature of its Mayor and countersigned
by the manual or facsimile signature of its City Secretary; the same shall be
approved as to form and legality by the manual or facsimile signature of the
City Attorney of the City, and its corporate seal shall be impressed or printed
or lithographed upon each bond. All manual or facsimile signatures placed upon
the Series 1991 Bonds shall have the same effect as if manually placed thereon,
all as provided in Article 717j-1, V.A.T.C.S., as amended.
Section 4.2. Approval and Registration. The Board is hereby authorized
to have control and custody of the Series 1991 Bonds and all necessary records
and proceedings pertaining thereto pending their delivery, and the Chairman and
officers and employees of the Board and of the Cities are hereby authorized and
instructed to make such certifications and to execute such instruments as may
be necessary to accomplish the delivery of said bonds to the Attorney General
of the State of Texas and to assure the investigation, examination and approval
thereof by the Attorney General of the State of Texas and their registration by
the Comptroller of Public Accounts. Upon registration of the Series 1991 Bonds,
the Comptroller of Public Accounts (or a deputy designated in writing to act
for him) shall manually sign the Comptroller's Registration Certificate
accompanying the Series 1991 Bonds, and the seal of the Comptroller shall be
impressed, or placed in facsimile, on each such certificate. The Chairman of
the Board and the Executive Director of the Airport shall be further authorized
to make such agreements and arrangements with the purchasers of said bonds and
with the Paying Agent/Registrar as may be necessary to assure that the same will
Minutes of City Council S-3 Page 465
`1,66
Tuesday, October 8, 1991
be delivered to such purchasers in accordance with the terms of sale.
Section 4.3. A. The Sale of the Bonds. The Series 1991 Bonds are hereby
sold in accordance with law and shall be delivered to the Underwriters (listed
in Schedule I to the Underwriting Agreement, dated October 9, 1991), at the
price of $18,542,584.35, plus accrued interest on the Series 1991 Bonds from
October 1, 1991 to and through the day preceding the date of delivery and in
accordance with the terms and conditions set forth in said Underwriting
Agreement. The Cities hereby agree and direct that the Series 1991 Bonds shall
be offered and sold at the Original Issue Discounts as set forth on the cover
of the Official Statement relating to the Series 1991 Bonds approved by the
Board. The initial Series 1991 Bond shall be registered in the name of Lehman
Brothers.
B. Underwriting Agreement. The Underwriting Agreement setting forth the
terms of the sale of'the Series 1991 Bonds to the purchasers thereof referred
to in Section 4.3A above, including the Underwriting Fee and the reimbursement
of the Original Issue Discount, is hereby accepted, approved and authorized to
be delivered in executed form to the said purchasers. The Underwriting
Agreement shall be executed on behalf of the City of Dallas by the City Manager
with its corporate seal impressed thereon, attested by the City Secretary, and
approved as to form by the City Attorney. The Underwriting Agreement shall be
executed on behalf of the City of Fort Worth by the City Manager with its
corporate seal impressed thereon, attested by the City Secretary, and approved
as to form and legality by the City Attorney.
C. TEFRA Approval. Richard S. Williams is hereby appointed to be the
designated Hearing Officer for a public hearing relating to the Series 1991
Bonds to be held for purposes of satisfying Section 147 of the Code and the
Mayors are hereby authorized to approve the issuance of the Bonds and the use
of the proceeds thereof for the purpose of satisfying the requirements of
Section 147 of the Code.
D. Approval of Credit Agreements. The Board is hereby authorized to
enter into from time to time while the Series 1991 Bonds are outstanding credit
agreements relating to the Series 1991 Bonds in accordance with Article 717q
V.A.T.C.S., as amended. Any amounts due and owing by the Board under such
credit agreements shall be Operation and Maintenance Expenses payable solely
from the Operating Revenue and Expense Fund in accordance with the flow of funds
and order of priorities established by Section 7.3 of the 1968 Ordinance.
ARTICLE V
DISPOSITION OF BOND PROCEEDS
Section 5.1. Reserve Fund. In accordance with the requirements of the
1970 Ordinance it is hereby found and determined that the amount in the Reserve
Fund is greater than or equal to not less than the average total annual deposits
required for the payment of the principal of and interest on the Series 1991
Bonds and the Series 1991A Bonds, simultaneously issued, and the Outstanding
Bonds. No additional deposit to the Reserve Fund is required to be made from
the proceeds of the Series 1991 Bonds.
Section 5.2. Construction Fund. Except as otherwise provided in Section
5.1, all proceeds derived from the sale of the Series 1991 Bonds shall be
deposited promptly upon the receipt thereof to the credit of the Construction
Fund and said proceeds shall be used solely for the purpose of defraying a part
of the Costs of the 1991 Project (including interest accruing during
construction on the Series 1991 Project) in accordance with the 1968 Ordinance
and Section 6.3 of this 1991 Ordinance, and shall be accounted for and expended
for said purposes at the time, in the order and as provided in the 1968
Ordinance.
ARTICLE VI
ADOPTION OF PROVISIONS.OF CERTAIN ORDINANCES, PLEDGE,
INTEREST AND SINKING FUND
Section 6.1. Adoption. The Series 1991 Bonds are authorized as
"Additional Parity Bonds" as the term is defined herein and as permitted to be
issued in the 1968 Ordinance, and in addition to the definitions set forth in
Article II of the 1968 Ordinance heretofore adopted, for purposes of this 1991
Ordinance, Section 2.2 of Article II and Articles V through XI, both inclusive,
of the 1968 Ordinance, Sections 7.2 and 7.3 of the 1970 Ordinance, Sections 7.2
and 7.4 of the 1976 Ordinance and Sections 6.4 and 7.2 of the 1977 Ordinance are
hereby adopted by reference and shall be applicable to the Series 1991 Bonds for
all purposes, except to the extent hereinafter specifically modified or
supplemented.
Minutes of City Council S-3 Page 466
Tuesday, October 8, 1991
Section 6.2. Pledge. The principal of and the interest on the Series
Ordinance N o. 1991 Bonds and the Outstanding Bonds are and shall be secured by and payable
10927 cont. from a first lien on and pledge of the Pledged Revenues and the funds in which
they shall from time to time be on deposit.' Such revenues are hereby
irrevocably pledged to the payment of the Outstanding Bonds, the Series 1991
Bonds and any other Bonds hereafter issued in accordance with the terms of the
1968 Ordinance.
Section 6.3. Interest and Sinking Fund. In addition to all other amounts
required by the 1972 Ordinance, the 1976 Ordinance, the 1977 Ordinance, the 1978
Ordinance, the 1982A Ordinance, the 1984 Ordinance, the 1984A Ordinance, the
1985 Ordinance, the 1992 Ordinance, the 1992A Ordinance and the 1994 Ordinance,
so long as any of the Series 1991 Bonds remain outstanding and unpaid the Board
shall transfer on or before the 1st day of each month, from the Operating
Revenue and Expense Fund (except for the amounts of (1) the accrued interest,
if any, received from the purchasers of the Series 1991 Bonds and (2) the
interest to come due on the Series 1991 Bonds determined by the Director of
Finance to be funded during such month, in accordance with federal requirements
as to tax -exemption, from the proceeds of the 1991 Bonds on deposit in the
Construction Fund) to the Interest and Sinking Fund, after taking into account
unexpended investment earnings on deposit in the Interest and Sinking Fund:
A. beginning on November 1, 1991, in equal monthly installments an amount
necessary to provide 1/6 of the amount of interest to become due on the Series
1991 Bonds on May 1, 1992, and thereafter in equal monthly installments an
amount necessary to provide 1/6th of the amount of interest to become due on the
Series 1991 Bonds on November 1, 1992 and on each succeeding interest payment
date thereafter;
B. beginning on October 1, 1994 for the Series 1991 Bonds maturing
November 1, 1995 to November 1, 2006, both inclusive, an amount necessary to
provide in twelve equal installments the amount of principal of the Series 1991
Bonds maturing on November 1 following each of the twelve month periods ending
September 30, 1995, through September 30, 2006; and
C. beginning on October 1, 2006 and on the first day of each month
thereafter through September 1, 2021 for each twelve-month period ending
September 30, one -twelfth of the amounts indicated, as follows:
2007
$ 705,000
2015
$1,150,000
2008
750,000
2016
1,220,000
2009
800,000
2017
1,290,000
2010
850,000
2018
1,370,000
2011
905,000
2019
1,450,000
2012
965,000
2020
1,540,000
2013
1,025,000
2021
1,625,000
2014
1,085,000
The sinking fund payments required by this sub -paragraph C may be used to
purchase Series 1991 Bonds as permitted in Section 7.4 of the 1968 Ordinance,
and to the extent not so used, shall be used to redeem prior to stated maturity
or to pay at final maturity, on November 1 in each of the years 2007 through
2011, both inclusive, the Series 1991 Bonds maturing on November 1, 2011 (and
on November 1, in each of the years 2012 through 2021 both inclusive, the Series
1991 Bonds maturing on November 1, 2021), at the principal amount thereof and
accrued interest to date of redemption or maturity without premium. It shall
be determined that the annual transfers to the Interest and Sinking Fund
required by this sub -paragraph C will produce a surplus in the Interest and
Sinking Fund at maturity of the Series 1991 Bonds, the annual sinking fund
payments required by this sub -paragraph C on account of the Series 1991 Bonds
shall be reduced in approximately equal amounts.
Section 6.4. Transfers to Paying Agent/Registrar. The Director of
Finance shall make transfers of funds on deposit in the Interest and Sinking
Fund for payment of the principal of and interest on the Series 1991 Bonds to
the Paying Agent/Registrar on the applicable due dates and redemption dates in
immediately available funds.
ARTICLE VII
MISCELLANEOUS COVENANTS AND PROVISIONS
Section 7.1. Covenants Regarding Tax -Exemption.
A. The Cities covenant to refrain from any action which would adversely
affect, or to take such action to assure, the treatment of the Series 1991 Bonds
as obligations described in section 103 of the Internal Revenue Code of 1986,
as amended (the "Code"), the interest on which is not includable in the "gross
income" of the holder for purposes of federal income taxation. In furtherance
thereof, the Cities covenant as follows:
Minutes of City Council S-3 Page 467
Tuesday, October 8, 1991
(a) to take any action to assure that no more than 10 percent of
Ordinance No. the proceeds of the Series 1991 Bonds or the projects financed therewith
10927 cont. (less amounts deposited to a reserve fund, if any) are used for any
"private business use," as defined in section 141(b)(6) of the Code or,
if more than 10 percent of the proceeds or the projects financed therewith
are so used, that amounts, whether or not received by the Cities, with
respect to such private business use, do not, under the terms of this
Ordinance or any underlying arrangement, directly or indirectly, secure
or provide for the payment of more than -10 percent of the debt service on
the Series 1991 Bonds, in contravention of section 141(b)(2) of the Code;
(b) to take any action to assure that in the event that the
"private business use" described in subsection (a) hereof exceeds 5
percent of the proceeds of the Series 1991 Bonds or the projects financed
therewith (less amounts deposited into a reserve fund, if any) then the
amount in excess of 5 percent is used for a "private business use" which
is "related" and not "disproportionate," within the meaning of section
141(b)(3) of the Code, to the governmental use;
(c) to take any action to assure that no amount which is greater
than the lesser of $5,000,000, or 5 percent of the proceeds of the Series
1991 Bonds (less amounts deposited into a reserve fund, if any) is
directly or indirectly used to finance loans to persons, other than state
or local governmental units, in contravention of section 141(c) of the
Code;
(d) to refrain from taking any action which would otherwise result
in the Series 1991 Bonds being treated as "private activity bonds" within
the meaning of section 141(b) of the Code;
(e) to refrain from taking any action that would result in the
Series 1991 Bonds being "federally guaranteed" within the meaning of
section 149(b) of the Code;
(f) to refrain from using any portion of the proceeds of the
Series 1991 Bonds or the Series 1991A Bonds, directly or indirectly, to
acquire or to replace funds which were used, directly or indirectly, to
acquire investment property (as defined in section 148(b)(2) of the Code)
which produces a materially higher yield over the term of the Series 1991
Bonds or the Series 1991A Bonds, other than investment property acquired
with --
(1) proceeds of the Series 1991 Bonds or the Series 1991A
Bonds invested for a reasonable temporary period of 3 years or less
until such proceeds are needed for the purpose for which the bonds
are issued,
(2) amounts invested in a bona fide debt service fund,
within the meaning of section 1.103-13(b)(12) of the Treasury
Regulations, and
(3) amounts deposited in any reasonably required reserve or
replacement fund to the extent such amounts do not exceed 10
percent of the proceeds of the Series 1991 Bonds or the Series
1991A Bonds and to the extent that at no time during any bond year
will be aggregate amount so invested exceed 150 percent of debt
service on the Series 1991 Bonds and the Series 1991A Bonds for
such year;
(g) to otherwise restrict the use of the proceeds of the Series
1991 Bonds or the Series 1991A Bonds or amounts treated as proceeds of the
Series 1991 Bonds or the Series 1991A Bonds, as may be necessary, so that
the Series 1991 Bonds or the Series 1991A Bonds do not otherwise
contravene the requirements of section 148 of the Code (relating to
arbitrage) and, to the extent applicable, section 149(d) of the Code
(relating to advance refundings);
(h) to pay to the United States of America at least once during
each five-year period (beginning on the date of delivery of the Series
1991 Bonds or the Series 1991A Bonds) an amount that is at least equal to
90 percent of the "Excess Earnings," within the meaning of section 148(f)
of the Code and to pay to the United States of America, not later than 60
days after the Series 1991 Bonds and the Series 1991A Bonds have been paid
in full, 100 percent of the amount then required to be paid as a result
of Excess Earnings under section 148(f) of the Code; and
(i) to maintain such records as will enable the Cities to fulfill
their responsibilities under this section and section 148 of the Code and
to retain such records for at least six years following the final payment
Minutes of City Council S-3 Page 468
11 t_) j
Tuesday, October 8, 1991
of principal and interest on the Series 1991 Bonds and the Series 1991A
Ordinance No. Bonds.
10927 cont.
For purposes of the foregoing, the Cities understand that in the case of a
refunding bond, the term proceeds includes transferred proceeds and, for
purposes of (a) and (b), proceeds of the refunded bonds expended prior to the
date of issuance of the Series 1991 Bonds. It is the understanding of the
Cities that the covenants contained herein are intended to assure compliance
with the Code and any regulations or rulings promulgated by the U.S. Department
of the Treasury pursuant thereto. In the event that regulations or rulings are
hereafter promulgated which modify, or expand provisions of the Code, as
applicable to the Series 1991 Bonds, the Cities will not be required to comply
with any covenant contained herein to the extent that such failure to comply,
in the opinion of nationally -recognized bond counsel, will not adversely affect
the exemption from federal income taxation of interest on the Series 1991 Bonds
under section 103 of the Code. In the event that regulations or rulings are
hereafter promulgated which impose additional requirements which are applicable
to the Series 1991 Bonds, the Cities agree to comply with the additional
requirements to the extent necessary, in the opinion of nationally -recognized
bond counsel, to preserve the exemption from federal income taxation of interest
on the Series 1991 Bonds under section 103 of the Code.
Section 7.2. Covenant Not to Impair. The Cities covenant that the
Dallas -Fort Worth Regional Airport Use Agreement, entered into between the Board
and various airlines, as amended by the Second Amendment, dated as of October
1, 1981, the Passenger Service Special Facilities Agreement, dated as of April
1, 1972, and the Capital Improvement Trust Account Agreement dated as of April
1, 1972, as amended as of October 1, 1981, will not be amended, altered or
rescinded in any manner so as to impair the rights or security of the holders
of the Series 1991 Bonds.
Section 7.3. Observance of Covenants. The Board, the officers, employees
and agents are hereby directed to observe, comply with and carry out the terms
and provisions of this 1991 Ordinance.
Section 7.4. Damaged, Mutilated, Lost, Stolen or Destroyed Bonds.
A. In the event any outstanding Series 1991 Bond is damaged, mutilated,
lost, stolen or destroyed, the Paying Agent/Registrar shall cause to be printed,
executed and delivered, a new bond of the same principal amount, maturity and
interest rate, as the damaged, mutilated, lost, stolen or destroyed Series 1991
Bond, in replacement for such Series 1991 Bond in the manner hereinafter
provided.
B. Application for replacement of damaged, mutilated, lost, stolen or
destroyed Series 1991 Bonds shall be made to the Paying Agent/Registrar. In
every case of loss, theft or destruction of,a Series 1991 Bond, the applicant
for a replacement bond shall furnish to the Cities and to the Paying
Agent/Registrar such security or indemnity as may be required by them to save
each of them harmless from any loss or damage with respect thereto. Also, in
every case of loss, theft or destruction of a Series 1991 Bond, the applicant
shall furnish to the Cities and to the Paying Agent/Registrar evidence to their
satisfaction of the loss, theft or destruction of such Series 1991 Bond, as the
case may be. In every case of damage or mutilation of a Series 1991 Bond, the
applicant shall surrender to the Paying Agent/Registrar for cancellation the
Series 1991 Bond so damaged or mutilated.
C. Notwithstanding the foregoing provisions of this Section, in the event
any such Series 1991 Bond shall have matured, and no default has occurred which
is then continuing in the payment of the principal of, redemption premium, if
any, or interest on the Series 1991 Bond, the Cities may authorize the payment
of the same (without surrender thereof except •in the case of a damaged or
mutilated Series 1991 Bond) instead of issuing a replacement Series 1991 Bond,
provided security or indemnity is furnished as above provided in this Section.
D. Prior to the issuance of any replacement bond, the Paying
Agent/Registrar shall charge the owner of such Series 1991 Bond with all legal,
printing and other expenses in connection therewith. Every replacement bond
issued pursuant to the provisions of this Section by virtue of the fact that any
Series 1991 Bond is lost, stolen or destroyed shall constitute a contractual
obligation of the Cities whether or not the lost, stolen or destroyed Series
1991 Bond shall be found at any time, or be enforceable by anyone, and shall be
entitled to all the benefits of this 1991 Ordinance equally and proportionately
with any and all other Series 1991 Bonds duly issued under this 1991 Ordinance.
E. In accordance with Section 6 of Art. 717k-6, V.A.T.C.S., as amended,
this Section of this 1991 Ordinance shall constitute authority for the issuance
of any such replacement bond without necessity of further action by the
governing body of the Cities or any other body or person, and the duty of the
replacement of such bonds is hereby authorized and imposed upon the Paying
Minutes of City Council S-3 Page 469
Tuesday, October 8, 1991
Agent/Registrar, and the Paying Agent/Registrar shall authenticate and deliver-
Ordinance
eliver0rdinance No. such bonds in the form and manner and with the effect, as provided in Section
10927 cont. 3.4D of this 1991 Ordinance for Series 1991 Bonds issued in exchange for other
Series 1991 Bonds.
Section 7.5. Bond Insurance. The Series 1991 Bonds have been offered
with a commitment for bond insurance provided by Financial Guaranty Insurance
Company, a New York stock insurance company ("Financial Guaranty"), with the
bond insurance to be evidenced by the then current legal form of the Municipal
Bond New Issue Insurance Policy (the "Policy"). The Cities have sold the Series
1991 Bonds based on such Commitment. In accordance with the terms and
conditions applicable to the Policy provided by Financial Guaranty, the Cities
covenant and agree that:
A. Optional Redemption of Bonds. Notwithstanding the provisions of
Section 4(e) hereof, prior to the circulation of any notice of redemption of the
Series 1991 Bonds (other than mandatory sinking fund redemption and excepting
any notice that refers to Bonds that are the subject of an advance refunding),
sufficient funds to pay the redemption price of the Series 1991 Bonds to be
redeemed shall have been deposited with the Paying Agent/Registrar to accomplish
such redemption. In addition, Financial Guaranty shall be provided with notice
of the redemption of any of the Series 1991 Bonds (other than mandatory sinking
fund redemption).
B. Event of Default. Upon the occurrence of an Event of Default which
would require Financial Guaranty to make payments under the Policy, Financial
Guaranty and its designated agent shall be provided with access to the
Registration Books relating to the Series 1991 Bonds. In addition, Financial
Guaranty shall be deemed the sole Holder of the Series 1991 Bonds with respect
to any action taken pursuant.to Section 10.2 of the 1968 Ordinance. In
determining whether a payment default relating to the Series 1991 Bonds has
occurred pursuant to Section 10.1 of the 1968 Ordinance, no effect shall be
given to payments made under the Policy. Furthermore, notice of any payment
default with respect to the Bonds shall be given immediately by the Board to
Financial Guaranty.
C. Amendments and Modifications to Ordinance. Notwithstanding the
provisions of Section 11.1 of the 1968 Ordinance, any amendment or modification
to the 1991 Ordinance shall be subject to the prior written consent of Financial
Guaranty which shall not be unreasonably withheld. For the purposes of Section
11.1 of the 1986 Ordinance Financial Guaranty shall be treated as the Holder of
the Series 1991 Bonds with respect to consent to any amendments thereunder. In
addition, Financial Guaranty shall be provided by the Board with all proceedings
relating to any amendment or modification to the 1991 Ordinance.
D. Notices. Unless otherwise directed, all notices to Financial Guaranty
hereunder shall be addressed:
Financial Guaranty Insurance Company
175 Water Street
New York, New York 10038
Attention: General Counsel
E. Paying Agent/Registrar. Notwithstanding Section 3.4 hereof, no
resignation or removal of the Paying Agent/Registrar shall become effective
until a successor has been appointed and has accepted the duties of the Paying
Agent/Registrar. Financial Guaranty shall be furnished with written notice of
the resignation or removal of the Paying Agent/Registrar and the appointment of
any successor thereto.
F. Information and Data. The following information and data shall be
provided to Financial Guaranty by the Board periodically as noted:
1. Annually, when available, the Airport Budget as approved by the
Cities and the annual audited financial statements.
2. An official statement or offering document, if any, prepared in
connection with the issuance of any Bonds.
3. Notice of any draw upon the Debt Service Reserve Fund.
4. Simultaneously with the delivery of the annual audited financial
statements such other statistical data concerning passenger statistics,
landed weights and aircraft operations as are compiled and made generally
available by the Airport.
Minutes of City Council S-3 Page 470
471
Tuesday, October 8, 1991
ARTICLE VIII
Ordinance No. AMENDMENTS TO ORDINANCE
10927 cont.
Section 8.01. Amendments. This 1991 Ordinance may be amended by
concurrent ordinances adopted by the City Councils, in the same manner as
provided in the 1968 Ordinance for the amendment of the 1968 Ordinance.
ARTICLE IX
SEVERABILITY, REPEAL AND COUNTERPARTS
Section 9.1. Ordinance Irrepealable. After any of the Series 1991 Bonds
shall be issued, this 1991 Ordinance shall constitute a contract between the
Cities and the owner or owners of the Series 1991 Bonds from time to time
outstanding, and this 1991 Ordinance shall be and remain irrepealable until the
Series 1991 Bonds and the interest thereon shall be fully paid, cancelled,
refunded or discharged or provision for the payment thereof shall be made.
Section 9.2. Severability. If any Section, paragraph, clause or pro-
vision of this 1991 Ordinance shall for any reason be held to be invalid or un-
enforceable, the invalidity or unenforceability of such Section, paragraph,
clause or provision shall not affect any of the remaining provisions of this
1991 Ordinance. If any Section, paragraph, clause or provision of the Contract
and Agreement shall for any reason be held to be invalid or unenforceable, the
invalidity or unenforceability of such Section, paragraph, clause or provision
shall not affect any of the remaining provisions of the Contract and Agreement,
or of any other provisions of this 1991 Ordinance not dependent directly for
effectiveness upon the provision of the Contract and Agreement thus declared to
be invalid and unenforceable.
Section 9.3. Repealer. All orders, resolutions and ordinances, or parts
thereof, inconsistent herewith are hereby repealed to the extent of any such
inconsistency.
Section 9.4. Counterparts. This 1991 Ordinance may be executed in
counterparts, and when duly passed by both Cities, and separate counterparts are
duly executed by each City, the Ordinance shall be in full force and effect.
Introduced an Council Member Chappell introduced an ordinance and made a motion that it be adopted.
Ordinance
The motion was seconded by Council Member McCray.'The motion, carrying with it the adoption
of said ordinance, prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, Meadows, and Chappell
NOES: None
ABSENT: None
The ordinance, as adopted, is as follows:
Ordinance No.it ORDINANCE NO. 10928
10928
An ordinance passed concurrently by the City Councils, respectively, of
the Cities of Dallas and Fort Worth, authorizing the issuance of Dallas -Fort
Worth Regional Airport Joint Revenue Bonds, Series 1991A, in the aggregate
principal amount of $55,150,000, bearing interest at the rates specified, for
the purpose of paying part of the cost of constructing, equipping and otherwise
improving the jointly owned Dallas -Fort Worth International Airport of the
Cities; providing for the form of said bonds; appointing a Paying
Agent/Registrar and providing for the transfer and exchange of such bonds;
awarding the sale of such bonds to the purchasers thereof; authorizing the
Dallas -Fort Worth International Airport Board to deliver said bonds as herein
directed; providing that such bonds are on parity with the outstanding
Dallas -Fort Worth Regional Airport Joint Revenue Bonds heretofore or hereafter
issued; adopting pertinent provisions.of and supplementing the 1968 Regional
Airport Concurrent Bond Ordinance and the Supplemental Regional Airport
Concurrent Bond Ordinances which authorized the issuance of Outstanding Bonds;
providing for the deposit of the proceeds of the Series 1991A Bonds into certain
funds and of the Joint Airport Fund; and directing that due observance of the
covenants herein contained be made by the Board; providing for severability;
ordaining other matters incident and relating to the subject and purpose hereof;
and declaring an emergency.
WHEREAS, pursuant to applicable laws and a certain contract and agreement,
dated April 15, 1968 (the "Contract and Agreement"), the City Councils,
Minutes of City Council S-3 Page 471
Tuesday, October 8, 1991
respectively, of the Cities of Dallas and Fort Worth, by an ordinance passed
Ordinance No. concurrently on November 11, 1968, and November 12, 1968 (the "1968 Ordinance"),
10928 cont. authorized the issuance of and sold their Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1968 (the "Series 1968 Bonds"), and by ordinances
concurrently passed subsequently authorized the issuance of and sold the
Outstanding Bonds for the purpose of paying the costs of the Dallas -Fort Worth
International Airport (formerly known as the "Dallas -Fort Worth Regional
Airport") and for the purpose of refunding certain bonds issued pursuant to the
1968 Ordinance as supplemented; and
WHEREAS, such subsequently issued bonds were issued as "Bonds" in
accordance with the terms of the 1968 Ordinance and on a parity with the Series
1968 Bonds; and
WHEREAS, said ordinances authorizing said outstanding bonds permit the
issuance of Additional Parity Bonds for the purpose of improving, constructing,
replacing or otherwise extending the Airport provided that certain requirements
for the issuance of Additional Parity Bonds are met, including a certification
from an Airport Consultant concerning the anticipated revenues of the Airport;
and
WHEREAS, all such requirements have been met, including the certification
by an Airport Consultant.to the effect that during each Fiscal Year while the
outstanding Bonds and the proposed Additional Parity Bonds are scheduled to be
outstanding, the estimated Pledged Revenues will be at least equal to (1) the
estimated Operation and Maintenance Expenses during each fiscal year, plus (2)
an amount not less than 1.25 times the average annual principal and interest
requirements of all then outstanding Bonds and the proposed Additional Parity
Bonds; and
WHEREAS, in accordance with the Contract and Agreement said City Councils
have been requested by the Dallas -Fort Worth International Airport Board to
issue additional joint revenue bonds pursuant to a concurrent bond ordinance for
such purpose; and
WHEREAS, it is deemed by said City Councils to be desirable, appropriate
and necessary to issue such series of bonds for such purposes; and
WHEREAS, the City Councils have each found and determined as to each that
the matters to which this 1991A Ordinance relates are matters of imperative
public need and necessity in the protection of the health, safety and morals of
the citizens of each of the Cities and, as such, that this 1991A Ordinance is
an emergency measure and shall be effective as to each City respectively upon
its adoption by its City Council, and the meetings were open to the public as
required by law; and that public notices of the time, place and purpose of said
meetings were given as required by Article 6252-17, V.A.T.C.S., as amended.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DALLAS,
TEXAS:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS:
ARTICLE I
TITLE, PREAMBLES AND RATIFICATION
Section 1.1. Short Title. This 1991A Ordinance may be cited by the short
title, "Twentieth Supplemental Regional Airport Concurrent Bond Ordinance."
Section 1.2. Adoption of Preambles. All of the declarations and findings
contained in the preambles of this 1991A Ordinance are made a part hereof and
shall be fully effective as a part of the ordained subject matter of this 1991A
Ordinance.
Section 1.3. Ratification. All action heretofore taken (not inconsistent
with the provisions hereof) by the Cities, by the Board and by the employees and
officers of each directed toward the Airport and the .issuance of the bonds
herein authorized is hereby ratified, approved and confirmed.
ARTICLE II
DEFINITIONS AND CONSTRUCTION
Section 2.1. Adoption of Definitions. The definitions set forth in
Article II of the 1968 Ordinance are made a part hereof and shall be as fully
effective as part of the subject matter of this 1991A Ordinance as if repeated
in full herein.
Minutes of City Council S-3 Page 472
4 . 3
Tuesday, October 8, 1991
Section 2.2. Additional Definitions. In addition to the definitions set
rdinance No. forth in the said 1968 Ordinance, the terms defined in this Section for all
0928 cont. purposes of this 1991A Ordinance and of any ordinance amendatory hereof, supple-
mental or relating hereto, and of any instruments or documents appertaining
hereto, except where the context by clear implication shall otherwise require,
shall have the respective meanings herein specified as follows, to -wit:
"COSTS OF THE 1991A PROJECT" shall mean the Costs of the Airport related
to the construction of the 1991A Project and the financing related
thereto.
"MASTER PLAN" shall mean and refer to the Airport's Master Plan of
Development adopted on September 30, 1969, as amended from time -to -time.
"1968 ORDINANCE" shall mean and refer to the 1968 Regional Airport
Concurrent Bond Ordinance passed by the City Councils of the Cities,
respectively, on November 11, 1968 and November 12, 1968.
"1972 ORDINANCE" shall mean and refer to the Fifth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on March 6, 1972.
"1916 ORDINANCE" shall mean and refer to the Seventh Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on October 20, 1976, as amended November 8, 1976.
"1977 ORDINANCE" shall mean and refer to the Eighth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on August 30 and August 31, 1977.
"1978 ORDINANCE" shall mean and refer to the Ninth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on April 4 and April 5, 1978.
"1982 ORDINANCE" shall mean and refer to the Tenth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on March 3, 1982.
"1982A ORDINANCE" shall mean and refer to the Eleventh Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on November 16 and November 17, 1982.
"1984 ORDINANCE" shall mean and refer to the Twelfth Supplemental Regional
Airport Concurrent Bond Ordinance passed by the City Councils of the
Cities on September 11 and September 12, 1984.
"1984A ORDINANCE" shall mean and refer to the Thirteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on October 9 and October 10, 1984.
"1985 ORDINANCE" shall mean and refer to the Fourteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on December 3 and December 4, 1985.
"1987 ORDINANCE" shall mean and refer to the Fifteenth Supplemental
Regional Airport concurrent Bond Ordinance passed by the City Councils of
the Cities on October 6 and 7, 1987.
"1991 ORDINANCE" shall mean and refer to the Nineteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on October 8 and October 9, 1991.
"1991A ORDINANCE" shall mean and refer to the Twentieth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on October 8 and October 9, 1991.
"1992 ORDINANCE" shall mean and refer to the Sixteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on September 11 and 12, 1990.
"1992A ORDINANCE" shall mean and refer to the Eighteenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on November 13 and 14, 1990.
"1994 ORDINANCE" shall mean and refer to the Seventeenth Supplemental
Regional Airport Concurrent Bond Ordinance passed by the City Councils of
the Cities on September 11 and 12, 1990.
"1991A PROJECT" shall mean those terminal airfield and support facilities
and related improvements at the Airport which conform to the Master Plan,
Minutes of City Council S-3 Page 473
Tuesday, October 8, 1991
or will conform to the Master Plan as revised, to be constructed with part
Ordinance No. of the proceeds of the Series 1991A Bonds.
10928 cont.
"OUTSTANDING BONDS" shall mean the outstanding Dallas -Fort Worth Regional
Airport Joint Revenue Bonds, Series. 1972, authorized by the 1972
Ordinance, the Dallas -Fort Worth Regional Airport Joint Revenue Refunding
Bonds, Series 1976, authorized by the 1976 Ordinance, the Dallas -Fort
Worth Regional Airport Joint Revenue Construction and Refunding Bonds,
Series 1977, authorized by the 1977 Ordinance, the Dallas -Fort Worth
Regional Airport Joint Revenue Bonds, Series 1978, authorized by the 1978
Ordinance, the Dallas -Fort Worth Regional Airport Joint Revenue Bonds,
Series 1982A, authorized by the 1982A Ordinance, the Dallas -Fort Worth
Regional Airport Joint Revenue Bonds, Series 1984, authorized by the 1984
Ordinance, the Dallas -Fort Worth Regional Airport Joint Revenue Refunding
Bonds, Series 1984A, authorized by the 1984A Ordinance, the Dallas -Fort
Worth Regional Airport Joint Revenue Bonds, Series 1985, authorized by the
1985 Ordinance, the Dallas -Fort Worth Regional Airport Joint Revenue
Refunding Bonds, Series 1987, authorized by the 1987 Ordinance, the
Dallas -Fort Worth Regional 'Airport Joint Revenue Bonds, Series 1991,
authorized by the 1991 Ordinance and the Dallas -Fort Worth Regional
Airport Joint Revenue Bonds, Series 1991A authorized by the 1991A
Ordinance and shall also mean the Dallas -Fort Worth Regional Airport Joint
Revenue Refunding Bonds, Series 1992 heretofore authorized and issued, the
Dallas -Fort Worth Regional Airport Joint Revenue Refunding Bonds, Series
1992A heretofore authorized and issued and the Dallas -Fort Worth Regional
Airport Joint Revenue Refunding Bonds, Series 1994 heretofore authorized
and issued once such series of Bonds are delivered and outstanding.
"PAYING AGENT/REGISTRAR" shall mean NCNB Texas National Bank, with respect
to the Series 1991A Bonds or any successor appointed pursuant to the
provisions of Section 3.4 hereof.
"REFUNDING BONDS" shall mean any refunding bonds issued pursuant to
Section 8.6 of the 1968 Ordinance for the purpose of refunding any Bonds
outstanding.
"SERIES 1972 BONDS", shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1972, authorized by the 1972 Ordinance.
"SERIES 1976 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1976, authorized by the 1976
Ordinance.
"SERIES 1977 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Construction and Refunding Bonds, Series 1977, authorized
by the 1977 Ordinance.
"SERIES 1978
BONDS"
shall
mean the Dallas -Fort
Worth Regional Airport
Joint Revenue
Bonds,
Series
1978, authorized by
the 1978 Ordinance.
"SERIES 1982
BONDS"
shall
mean the Dallas -Fort
Worth Regional Airport
Joint Revenue
Bonds,
Series
1982, authorized by
the 1982 Ordinance.
"SERIES 1982A
BONDS"
shall
mean the Dallas -Fort
Worth Regional Airport
Joint Revenue
Bonds,
Series
1982A, authorized by
the 1982A Ordinance.
"SERIES 1984
BONDS"
shall
mean the Dallas -Fort
Worth Regional Airport
Joint Revenue
Bonds,
Series
1984, authorized by
the 1984 Ordinance.
"SERIES 1984A BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1984A, authorized by the 1984A
Ordinance.
"SERIES 1985 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1985, authorized by the 1985 Ordinance.
"SERIES 1987 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1987, authorized by the 1987
Ordinance.
"SERIES 1991 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1991, authorized by the 1991 Ordinance.
"SERIES 1991A BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1991A, authorized by the 1991A Ordinance.
"SERIES 1992 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 1992, authorized by the 1992
Ordinance.
Minutes of City Council S-3 Page 474
Tuesday, October 8, 1991
Ordinance No. "SERIES 1992A BONDS" shall mean the Dallas -Fort Worth Regional Airport
10928 cont. Joint Revenue Refunding Bonds, Series 1992A, authorized by the 1992A
Ordinance.
"SERIES 1994 BONDS" shall mean the Dallas -Fort Worth Regional Airport
Joint Revenue Refunding Bonds, Series 19949 authorized by the 1994
Ordinance.
ARTICLE III
THE BONDS
Section 3.1. Authorization. So as to protect the public safety and in
order to promote and advance the general welfare of the citizens of Dallas and
Fort Worth and the North Central Texas region, it is hereby declared necessary
that the Cities issue, and the Cities hereby authorize and direct the issuance
of the Dallas -Fort Worth Regional Airport Joint Revenue Bonds, Series 1991A, in
the aggregate principal amount of $55,150,000, pursuant to the provisions of
Article 46d, Article 1269]-5.1 and Article 717q V.A.T.C.S., as amended, for the
purpose of paying part of the Costs of the 1991A Project.
Section 3.2. Date, Denominations and Maturities.- The Series 1991A Bonds
shall be dated October 1, 1991, shall be in the denomination of $5,000 each, or
any integral multiple thereof, shall be numbered consecutively from one upward
and shall mature and become due and payable on November 1 in the years and in
the amounts as follows:
Years
Amounts
Years
Amounts
1995
$100,000
2003
$ 1,525,000
1996
100,000
2004
1,620,000
1997
100,000
2005
1,725,000
1998
100,000
2006
1,835,000
1999
100,000
2011
11,160,000
2000
100,000
2021
36,585,000
2002
100,000
mature
in
Section 3.3. Interest Rates.
A. The Series 1991A Bonds shall bear interest from their date to their
stated maturities or earlier redemption at the following rates:
all
bonds
scheduled
to
mature
in
the
year
1995
...
5.25%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
1996
...
5.40%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
1997
...
5.60%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
1998
...
5.75%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
1999
...
5 7/8%
per annum;
all
bonds
scheduled
to
mature
in
the
year
2000
...
6.00%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2002
...
6 1/8%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2003
...
6.25%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2004
...
6 3/8%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2005
...
6.40%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2006
...
6.50%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2011
...
6 5/8%
per
annum;
all
bonds
scheduled
to
mature
in
the
year
2021
...
6 5/8%
per
annum;
Said interest shall be payable to the registered owner of any such Series
1991A Bond in the manner provided and on the dates stated in the Form of Bond
set forth in Section 3.6 hereof.
Section 3.4. Paying Agent/Registrar.
A. The Cities shall keep or cause to be kept initially at the office of
NCNB Texas National Bank in Fort Worth, Texas, or'such other bank, trust
company, financial institution or other agency named in accordance with the
provisions of G. of this Section 3.4 hereof (the "Paying Agent/Registrar") books
or records of the registration and transfer of the Series 1991A Bonds (the
"Registration Books") and the Cities hereby appoint the Paying Agent/Registrar
as its registrar and transfer agent to keep such books or records and make such
transfers and registrations under such reasonable regulations as the Cities and
the Paying Agent/Registrar may prescribe; and the Paying Agent/Registrar shall
make such transfers and registrations as herein provided. It shall be the duty
of the Paying Agent/Registrar to obtain from the registered owner and record in
the Registration Books the address of such registered owner of each bond, and
such other information as may be required by law, to which payments with respect
to the Series 1991A Bonds shall be mailed, as herein provided. The Cities or
their designee shall have the right to inspect the Registration Books during
regular business hours of the Paying Agent/Registrar, but otherwise the Paying
Agent/Registrar shall keep the Registration Books confidential and, unless
otherwise required by law, shall not permit their inspection by any other
entity. Registration of each Series 1991A Bond may be transferred in the
Minutes of City Council S-3 Page 475
T416
Tuesday, October 8, 1991
Ordinance No. Registration Books only upon presentation and surrender of such bond to the
10928 cont. Paying Agent/Registrar for transfer of registration and cancellation, together
with proper written instruments of assignment, in form and with guarantee of
signatures satisfactory to the Paying Agent/Registrar, evidencing the assignment
of the bond, or any portion thereof in any integral multiple of $5,000, to the
assignee or assignees thereof, and the right of such assignee or assignees to
have the bond or any such portion thereof registered in the name of such
assignee or assignees. Upon the assignment and transfer of any Series 1991A
Bond or any portion thereof, a new substitute bond or bonds shall be issued in
exchange therefor in the manner herein provided.
B. The entity in whose name any Series 1991A Bond shall be registered in
the Registration Books at - any time shall be treated as the absolute owner
thereof for all purposes of this 1991A Ordinance, whether or not such bond shall
be overdue, and the Cities and the Paying Agent/Registrar shall not be affected
by any notice to the contrary; and payment of, or on account of, the principal
of, premium, if any, and interest on any such bond shall be made only to such
registered owner. All such payments shall be valid and effectual to satisfy and
discharge the liability upon such bond to the extent of the sum or sums so paid.
C. The Cities hereby further appoint the Paying Agent/Registrar to act
as the paying agent for paying the principal of and interest on the Series 1991A
Bonds, and to act as its agent to exchange or replace Series 1991A Bonds, all
as provided in this 1991A Ordinance. The Paying Agent/Registrar shall keep
proper records of all payments made by the Cities and the Paying Agent/Registrar
with respect to the Series 1991A Bonds, and of all exchanges of such bonds, and
all replacements of such bonds, as provided in this 1991A Ordinance. The Paying
Agent/Registrar shall agree that, to the extent possible, it will transfer or
exchange bonds in no more than 3 business days after receipt of the Series 1991A
Bonds to be transferred or exchanged, together with the written instrument of
transfer or request for exchange duly executed by the holder or his duly
authorized agent, in form satisfactory to the Paying Agent/Registrar.
D. Each Series 1991A Bond may be exchanged for fully registered bonds in
the manner set forth herein. Each bond issued and delivered pursuant to this
1991A Ordinance, to the extent of the unpaid or unredeemed principal balance or
principal amount thereof, may, upon surrender of such bond at the principal
corporate trust office of the Paying Agent/Registrar, together with a written
request therefor duly executed by the registered owner or the assignee or
assignees thereof, or its or their duly authorized attorneys or representatives,
with guarantee of signatures satisfactory to the Paying Agent/Registrar, at the
option of the registered owner or such assignee or assignees, as appropriate,
be exchanged for fully registered bonds, without interest coupons, in the form
prescribed in the Form of Bond set forth in this 1991A Ordinance, in the
denomination of $5,000, or any integral multiple of $5,000 (subject to the
requirement hereinafter stated that each substitute bond shall have a single
stated maturity date), as requested in writing by such registered owner or such
assignee or assignees, in an aggregate principal amount equal to the unpaid or
unredeemed principal balance or principal amount of any Series 1991A Bond or
Bonds so surrendered, and payable to the appropriate registered owner, assignee
or assignees, as the case may be. If a portion of any Series 1991A Bond shall
be redeemed prior to its scheduled maturity as provided herein, a substitute
bond or bonds having the.same maturity date, bearing interest at the same rate,
in the denomination or denominations of any integral multiple of $5,000 at the
request of the registered owner, and in an aggregate principal amount equal to
the unredeemed portion thereof, will be issued to the registered owner upon
surrender thereof for cancellation. If any Series 1991A Bond or portion thereof
is assigned and transferred, each bond issued in exchange therefor shall have
the same principal maturity date and bear interest at the same rate as the bond
for which it is being exchanged. Each substitute bond shall bear a letter
and/or number to distinguish it from each other bond. The Paying
Agent/Registrar shall exchange or replace Series 1991A Bonds as provided herein,
and each fully registered bond or bonds delivered in exchange for or replacement
of any Series 1991A Bond or portion thereof as permitted or required by any
provision of this 1991A Ordinance shall constitute one of the Series 1991A Bonds
for all purposes of this 1991A Ordinance, and may again be exchanged or
replaced. It is specifically provided, however, that any Series 1991A Bond
delivered in exchange for or replacement of another Series 1991A Bond prior to
the first scheduled interest payment date on the Series 1991A Bonds (as stated
on the face thereof) shall be dated October 1, 1991, but each substitute bond
so delivered on or after such first scheduled interest payment date shall be
dated as of the interest payment date preceding the date on which such
substitute bond is delivered, unless such substitute bond is delivered on an
interest payment date, in which case it shall be dated as of such date of
delivery; provided, however, that if at the time of delivery of any substitute
bond the interest on the bond for which it is being exchanged has not been paid,
then such substitute bond shall be dated as of the date to which such interest
has been paid in full. On each substitute bond issued in exchange for or
replacement of any Series 1991A Bond or Bonds issued under this 1991A Ordinance
there shall be printed thereon a Paying Agent/Registrar's Authentication
Minutes of City Council S-3 Page 476
Tuesday, October 8, 1991
Certificate, in the form hereinafter set forth. An authorized representative
Ordinance No. of the Paying Agent/Registrar shall, before the delivery of any such substitute
10928 cont. bond, date such substitute bond in the manner set forth above, and manually sign
and date such Certificate, and no such substitute bond shall be deemed to be
issued or outstanding unless such Certificate is so executed. The Paying
Agent/Registrar promptly shall cancel all Series 1991A Bonds surrendered for
exchange or replacement. No additional ordinances, orders or resolutions need
be passed or adopted by the City Council or any other body or person so as to
accomplish the foregoing exchange or replacement of any Series 1991A Bond or
portion thereof, and the Paying Agent/Registrar shall provide for the printing,
execution and delivery of the substitute bonds in the manner prescribed herein.
Pursuant to Article 717k-6, V.A.T.C.S., and particularly Section 6 thereof, the
duty of exchange or replacement of any Series 1991A Bonds as aforesaid is hereby
imposed upon the Paying Agent/Registrar, and, upon the execution of the above
Paying Agent/Registrar's Authentication Certificate, the exchanged or replaced
bond shall be valid, incontestable and enforceable in the same manner and with
the same effect as the Series 1991A Bonds which originally were delivered
pursuant to this 1991A Ordinance, approved by the Attorney General, and
registered by the Comptroller of Public Accounts. Neither the City nor the
Paying Agent/Registrar shall be required to transfer or exchange any Series
1991A Bond selected for redemption when such redemption is scheduled to occur
within 45 calendar days; provided, however, such limitation shall not apply to
an exchange by the holder of an unredeemed balance of a Series 1991A Bond called
for redemption in part.
E. All Series 1991A Bonds issued in exchange or replacement of any other
Series 1991A Bond or portion thereof, (i) shall be issued in fully registered
form, without interest coupons, with the principal of and interest on such
Series 1991A Bonds to be payable only to the registered owners thereof, (ii) may
be redeemed prior to their scheduled maturities, (iii) may be transferred and
assigned, (iv) may be exchanged for other Series 1991A Bonds, (v) shall have the
characteristics, (vi) shall be signed and sealed, and (vii) the principal of and
interest on the Series 1991A Bonds shall be payable, all as provided, and in the
manner required or indicated, in the Form of Bond set forth in this 1991A
Ordinance.
If any of the officers who shall have signed or sealed any of the Series
1991A Bonds or whose facsimile signature shall be upon the Series 1991A Bonds
shall cease to be such officer of the Cities before the Series 1991A Bond so
signed and sealed shall have been authenticated by the Paying Agent/Registrar
or delivered, such Series 1991A Bonds nevertheless may be authenticated, issued
and delivered with the same force and effect as .if the person or persons who
signed or sealed such Series 1991A Bonds or whose facsimile signature shall be
upon the Series 1991A Bonds had not ceased to be such officer of the Cities; and
any such Series 1991A Bond may be signed and sealed on behalf of the Cities by
those persons who, at the actual date of the execution of such Series 1991A
Bonds, shall be the proper officers of the Cities, although at the date of
authentication of such Series 1991A Bond any such persons shall not have been
such officer of the Cities.
F. The Cities, acting by and through the Board, shall pay the Paying
Agent/Registrar's reasonable and customary fees and charges for making transfers
and exchanges of Series 1991A Bonds, but the registered owner of any Series
1991A Bond requesting such transfer or exchange shall pay any taxes or other
governmental charges required to be paid with respect thereto. In addition, the
Cities hereby covenant with the registered owners of the Series 1991A Bonds that
they will (i) pay the reasonable and standard or customary fees and charges of
the Paying Agent/Registrar for its services with respect to the payment of the
principal of and interest on the Series 1991A Bonds, when due, and (ii) pay the
fees and charges of the Paying Agent/Registrar for services with respect to the
transfer, exchange or registration of Series 1991A Bonds solely to the extent
above provided.
G. The Cities covenant with the registered owners of the Series 1991A
Bonds that at all times while the Series 1991A Bonds are outstanding the Cities
will provide a competent and legally qualified bank, trust company, financial
institution or other agency to act as and perform the services of Paying
Agent/Registrar for the Series 1991A Bonds under the 1991A Ordinance, and that
the Paying Agent/Registrar will be one entity. The Cities reserve the right to,
at their option, change the Paying Agent/Registrar upon not less than 60 days
written notice to the Paying Agent/Registrar. In the event that the entity at
any time acting as Paying Agent/Registrar (or its successor by merger,
acquisition, or other method) should resign or otherwise cease to act as such,
the Cities covenant that they promptly will appoint a competent and legally
qualified national or state banking institution which shall be a corporation
organized and doing business under the laws of the United States of America or
of any state, authorized under such laws to exercise trust powers, subject to
supervision or examination by federal or state authority, and whose
qualifications substantially are similar to the previous Paying Agent/Registrar
to act as Paying Agent/Registrar under the 1991A Ordinance. Upon any change in
Minutes of City Council S-3 Page 477
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Tuesday, October 8, 1991
the Paying Agent/Registrar, the previous Paying Agent/Registrar promptly shall
Ordinance No. transfer and deliver the Registration Books (or a copy thereof), along with all
10928 cont. other pertinent books and records relating to the Series 1991A Bonds, to the new
Paying Agent/Registrar designated and appointed by the Cities. Upon any change
in the Paying Agent/Registrar, the Cities promptly will cause a written notice
thereof to be sent by the new Paying Agent/Registrar to each registered owner
of the Series 1991A Bonds, by United States Mail, postage prepaid, which notice
also shall give the address of the new Paying Agent/Registrar. By accepting the
position and performing as such, each Paying Agent/Registrar shall be deemed to
have agreed to the provisions of the 1991A Ordinance, and a certified copy of
the 1991A Ordinance shall be delivered to each Paying Agent/Registrar.
H. The Series 1991A Bonds herein authorized shall be issued initially as
one fully registered bond (the e "Initial . Bond") in the principal amount of
$55,150,000 with principal installments to become due and payable as provided
in Section 3.2 hereof, bearing interest as described in Section 3.3 hereof, and
numbered T-1, and registered in the name of Lehman Brothers. The Initial Bond
shall be manually signed and shall be submitted to the Office of the Attorney
General of the State of Texas.
I. The Series 1991A Bonds issued in exchange for the Series 1991A Bonds
initially issued to the purchaser specified herein shall be initially issued in
the form of a separate single fully registered Series 1991A Bond for each of the
maturities thereof. The Board is hereby authorized to enter into a
representation letter with respect to establishing a book -entry only system for
the Series 1991A Bonds. Upon initial issuance, the ownership of each such
Series 1991A Bond shall be registered in the name of Cede & Co., as nominee of
The Depository Trust Company of New York ("DTC"),, and except as provided in
subsection (H) hereof, all of the outstanding Series 1991A Bonds shall be
registered in the name of Cede & Co., as nominee of DTC. With respect to the
Series 1991A Bonds registered in the name of Cede & Co., as nominee of DTC, the
Cities, the Board and the Paying Agent/Registrar shall have no responsibility
or obligation to any DTC Participant or to any person on behalf of whom such a
DTC Participant holds an interest in the Bonds. Without limiting the
immediately preceding sentence, the Cities, the Board and the Paying
Agent/Registrar shall have no responsibility or obligation with respect to (i)
the accuracy of the records of DTC, Cede & Co. or any DTC Participant with
respect to any ownership interest in the Bonds, (ii) the delivery to any DTC
Participant or any other person, other than a Bondholder, as shown on the
Registration Books, of any notice with respect to the Bonds, including any
notice of redemption, or (iii) the payment to any DTC Participant or any other
person, other than a registered owner, as shown in the Registration Books of any
amount with respect to principal of, premium, if any, or interest on, as the
case may be, the Series 1991A Bonds. Notwithstanding any other provision of
this Series 1991A Ordinance to the contrary,'the Cities, the Board and the
Paying Agent/Registrar shall be entitled to treat and consider the person in
whose name each Bond is registered in the Registration Books as the absolute
owner of such Series 1991A Bond for the purpose of payment of principal,
premium, if any, and interest, as the case may be, with respect to such Series
1991A Bond, for the purpose of giving notices of redemption and other matters
with respect to such Series 1991A Bond, for the purpose of registering transfers
with respect to such Series 1991A Bond, and for all other purposes whatsoever.
The Paying Agent/Registrar shall pay all principal of, premium, if any, and
interest on the Series 1991A Bonds only to or upon the order of the respective
registered owners, as shown in the Registration Books as provided in the Series
1991A Ordinance, or their respective attorneys duly authorized in writing, and
all such payments shall be valid and effective to fully satisfy and discharge
the Cities' obligations with respect to payment of principal of, premium, if
any, and interest on, or as the case may be, the Series 1991A Bonds to the
extent of the sum or sums so paid. No person other than a registered owner, as
shown in the Registration Books, shall receive a Bond certificate evidencing the
obligation of the Cities to make payments of principal, premium, if any, and
interest, as the case may be, pursuant to this Series 1991A Ordinance. Upon
delivery by DTC to the Paying Agent/Registrar of written notice to the effect
that DTC has determined to substitute a new nominee in place of Cede & Co., and
subject to the provisions in this Series 1991A Ordinance with respect to
interest checks being mailed to the registered owners at the close of business
on the Record Date, the term "Cede & Co." in this Series 1991A Ordinance shall
refer to such new nominee of DTC.
J. , In the event that the Cities, the Board or the Paying Agent/
Registrar determine that DTC is incapable of discharging its responsibilities
described herein and in the representation letter of the Board to DTC and that
it is in the best interest of the beneficial owners of the Bonds that they be
able to obtain certificated Series 1991A Bonds, the Board or the Paying
Agent/Registrar shall (i) appoint a successor securities depository, qualified
to act as such under Section 17 (a) of the Securities and Exchange Act of 1934,
as amended, notify DTC and DTC Participants of the appointment of such successor
securities depository and transfer one or more separate Series 1991A Bonds to
such successor securities depository or (ii) notify DTC and DTC Participants of
Minutes of City Council S-3 Page 478
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Tuesday, October 8, 1991
the availability through DTC of Series 1991A Bonds and transfer one or more
Ordinance No. separate Series 1991A Bonds to DTC Participants having Series 1991A Bonds
10928 cont. credited to their DTC accounts. In such event, the Series 1991A Bonds shall no
longer be restricted to being registered in the Registration Books in the name
of Cede & Co., as nominee of DTC, but may be registered in the name of the
successor securities depository, or its nominee, or in whatever name or names
registered owners transferring or exchanging Series 1991A Bonds shall designate,
in accordance with the provisions of this Series 1991A Ordinance.
K. Notwithstanding any other provision of this Series 1991A Ordinance
to the contrary, so long as any Series 1991A Bond is registered in the name of
Cede & Co., as nominee of DTC, all payments with respect to the principal of,
premium, if any, and interest on, or as the case may be, such Series 1991A Bond
and all notices with respect to such Series 1991A Bond shall be made and given,
respectively, in the manner provided in the representation letter of the Board
to DTC.
Section 3.5. Prior Redemption.
A. The Series 1991A Bonds shall be redeemable, at the election of the
Cities from any available moneys other than moneys on deposit in the Interest
and Sinking Fund, hereinafter described, on November '1, 2000, or on any date
thereafter, at the respective Redemption Prices (expressed as percentages of the
principal amount) set forth below, together with accrued interest to the
redemption date:
Period during which redeemed Redemption
(both dates inclusive) Price (%)
November
1,
2000
- October 31, 2001
102%
November
1,
2001
- October 31, 2002
101
November
1,
2002
and thereafter
100
If the Cities shall elect to optionally redeem less than all of the outstanding
Series 1991A Bonds of a maturity, the selection of Series 1991A Bonds for
optional redemption within a maturity shall. be done by the Paying
Agent/Registrar by lot or another random method of selection as determined by
the Paying Agent/Registrar.
B. The Series 1991A Bonds maturing November 1, 2011 shall be redeemed
prior to stated maturity in part by lot on November 1 in each of the years 2007
through 2010, and the Series 1991A Bonds maturing on November 1, 2021 shall be
redeemed prior to stated maturity in part by lot on November 1 in each of the
years 2012 through 2020, from moneys required by Section 6.3C of this Ordinance
to be deposited to the credit of the Interest and Sinking Fund at the principal
amount thereof and accrued interest to date of redemption, without premium.
C. At least thirty (30) days before the date fixed for any such
redemption, the Board, acting on behalf of the Cities, shall cause a written
notice of such redemption to be given to the registered owner of each Series
1991A Bond or a portion thereof being called for redemption by depositing such
notice in the United States Mail, postage prepaid, addressed to each such owner
at the address appearing on the Registration Books maintained by the Paying
Agent/Registrar. With respect to any registered owner of $10,000,000 or more
of bonds of this series, such notice shall be sent by Certified Mail with Return
Receipt. By the date fixed for any such redemption, due provision shall be made
with the Paying Agent/Registrar for the payment of the principal amount of the
Series 1991A Bonds to be so redeemed, plus any applicable premium thereon, and
accrued interest thereon to the date fixed for redemption. If such written
notice of redemption is given, and if due provision for payment is made, all as
provided above, the Series 1991A Bonds, or the portions thereof which are to be
so redeemed, thereby automatically shall be redeemed prior to maturity, and they
shall not bear interest after the date fixed for redemption, and shall not be
regarded as being outstanding except for the purpose of receiving the funds so
provided for such payment. The Paying Agent/Registrar shall record in the
Registration Books all such redemptions of principal of the Series 1991A Bonds
or any portion thereof. If a portion of any Series 1991A Bond shall be redeemed
a substitute Series 1991A Bond or Series 1991A Bonds having the same maturity
date, bearing interest at the same rate, in any denomination or denominations
in any integral multiple of $5,000, at the written request of the registered
owner, and in an aggregate principal amount equal to -the unredeemed portion
thereof, will be issued to the registered owner upon the surrender thereof for
cancellation, at the expense of the Cities, all as provided in the 1991A
Ordinance.
D. The redemption notice required by Section 3.5C shall include the
complete official name of the Series 1991A Bonds including the series
designation, the CUSIP numbers, interest rates, maturity dates and amount of
Minutes of City Council S-3 Page 479
ISO
Tuesday, October 8, 1991
rdinance No. principal per maturity date to be redeemed and the applicable redemption price
0928 cont. of prices on a specified redemption date. Such notice shall also contain the
name, address and phone number of a contact person at the Paying Agent/Registrar
to whom inquiries can be addressed.
E. The Paying Agent/Registrar shall cause to be forwarded by United
States Mail to Moody's Investors Service, Inc., Standard & Poor's Corporation,
The Bond Buyer and any registered bond depository holding any of the Bonds, at
their respective last known addresses, a copy of the text of the notice referred
to in Section 3.5D. The copy of the notice sent to each registered bond
depository shall be sent by tested telex, facsimile, express mail or other
express delivery service so that such registered bond depository will receive
the copy of such notices at least two days prior to the date such notice is
received by other registered owners. The failure of the Paying Agent/Registrar
to mail or cause to be mailed or transmit or cause to be transmitted a copy of
any such notice to any or all said firms shall not invalidate any such
redemption.
F. The Paying Agent/Registrar shall send to each registered owner
indicated on its records as having failed to present such redeemed Series 1991A
Bonds as of sixty days after the redemption date another copy of such redemption
notice by the same method as the original notice pursuant to Section 3.5C;
provided, however, that failure to send such additional notice shall not
invalidate any such redemption.
G. The Board, acting on behalf of the Cities, shall at least forty-five
(45) days before the date fixed for any such redemption conduct the selection
of the Series 1991A Bonds or portions thereof to be redeemed so that
restrictions can be imposed 'by the Paying Agent/Registrar with respect to
transfers and exchanges as provided in Section 3.4D. hereof.
Section 3.6. Forms. The form of all Series 1991A Bonds, including the
form of the Paying Agent/Registrar's Certificate, the Form of Assignment, and
the form of the Registration Certificate of the Comptroller of Public Accounts
of the State of Texas to accompany the Series 1991A Bonds on the initial
delivery thereof, and shall be, respectively, substantially as follows, with
such necessary and appropriate variations, omissions and insertions as permitted
or required by the 1991A Ordinance, to -wit:
(FORM OF BOND)
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTIES OF DALLAS AND TARRANT
DALLAS -FORT WORTH REGIONAL AIRPORT
JOINT REVENUE BOND
Series 1991A
Dated: October 1, 1991
MATURITY DATE INTEREST RATE ORIGINAL ISSUE DATE CUSIP
Registered Owner:
Principal Amount:
On the Maturity Date specified above, the Cities of Dallas and Fort Worth
(herein collectively called the "Cities") municipal corporations duly
incorporated under the laws of the State of Texas, for value received, hereby
jointly promise to pay to the Registered Owner shown above, or to the registered
assignee hereof (either being hereinafter called the "registered owner") solely
from the revenues and funds described herein, the principal amount shown above
and to pay interest thereon, from the Original Issue Date specified above, to
the date of its scheduled maturity or the date of its redemption prior to
scheduled maturity, at the rate of interest per annum specified above, with said
interest being payable on May 1, 1992, and semiannually on each November 1 and
May 1 thereafter, except that if the Paying Agent/Registrar's Authentication
Certificate appearing on the face of this bond is dated later than May 1, 1992,
such interest is payable semiannually on each May 1 and November 1 following
such date.
The terms and provisions of this bond are continued on the reverse side
hereof and shall for all purposes have the same effect as though fully set forth
at this place.
Minutes of City Council S-3 Page 480
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Tuesday, October 8, 1991
* The principal of and interest on this bond are payable in lawful money of
rdinance No. the United States of America, without exchange or'collection charges. The
0 928 cont. principal of this bond shall be paid to the registered owner hereof upon
presentation and surrender of this bond at maturity or upon the date fixed for
its redemption prior to maturity, at the trust office of NCNB Texas National
Bank, in Dallas, Texas, which is the initial "Paying Agent/Registrar" for this
bond. The payment of interest on this bond ,shall. be made by the Paying
Agent/Registrar to the registered owner hereof as shown by the Registration
Books kept by the Paying Agent/Registrar at the close of business on the "Record
Date," which is the 15th day of the month next preceding such interest payment
date by check drawn by the Paying Agent/Registrar on, and payable solely from,
funds of the Cities required to be on deposit with the Paying Agent/Registrar
for such purpose as hereinafter provided; and such check shall be sent by the
Paying Agent/Registrar by United States mail, postage prepaid, on each such
interest payment date, to the registered owner hereof at its address as it
appears on the Registration Books kept by the Paying Agent/Registrar, as
hereinafter described or, in lieu of payment by check, by such other method,
separately agreed to in writing by the Paying Agent/Registrar and the holder
hereof with the risk and expense thereof to be borne solely by the holder. In
the event of a non-payment of interest on one or more maturities on a scheduled
payment date, and for 30 days thereafter, a new Record Date for such interest
payment for such maturity or maturities (a "Special Record Date") will be
established by the Paying Agent/Registrar, if and when funds for the payment of
such interest have been received. Notice of the Special Record Date and of the
scheduled payment date of the past due interest (the'"Special Payment Date"
which shall be 15 days after the Special Record Date) shall be sent at least
five business days prior to the Special Record Date by United States mail, first
class, postage prepaid, to the address of each holder of a bond of such maturity
or maturities appearing on the books of the Paying Agent/Registrar at the close
of business on the last business day next preceding the date of mailing of such
notice. The Cities covenant with the registered owner of this bond that no
later than each principal payment date and interest payment date for this bond
they will make available to the Paying Agent/Registrar., solely from the revenues
and funds described herein, the amounts required to provide for the payment, in
immediately available funds, of all principal of and interest on the bonds, when
due.
* If the date for the payment of the principal of or interest on this bond
shall be a Saturday, Sunday, a legal holiday or a day on which banking
institutions in the city where the Paying Agent/Registrar is located are
authorized by law or executive order to close, then the date for such payment
shall be the next succeeding day which is not such a'Saturday, Sunday, legal
holiday or a day on which banking institutions are authorized to close; and
payment on such date shall have the same force and effect as if made on the
original date payment was due.
* The bonds of this series shall be redeemable at the election of the Cities
from any available moneys, other than moneys on deposit in the Interest and
Sinking Fund, hereinafter described, on November 1, 2000 or on date thereafter,
at the respective Redemption Prices (expressed as percentages of the principal
amount) set forth below, together with accrued interest to the redemption date:
Period during which redeemed Redemption
(both dates inclusive) Price (%)
November
1,
2000
- October, 31 2001
102%
November
1,
2001
- October 31, 2002
101
November
1,
2002
and thereafter
100
* If the Cities shall elect to optionally redeem less than all of the
outstanding Series 1991A Bonds of a maturity, the selection of Series 1991A
Bonds for optional redemption within a maturity shall be done by the Paying
Agent/Registrar by lot or another random method of selection as determined by
the Paying Agent/Registrar.
* The bonds maturing November 1, 2011 shall be redeemed prior to stated
maturity in part by lot on November 1, in each of the years 2007 through 2010
and the bonds maturing on November 1, 2021 shall be redeemed prior to stated
maturity in part by lot on November 1 , in each of the years 2012 through 2020,
from moneys required to be deposited to the credit of the Interest and Sinking
Fund at the principal amount thereof and accrued interest to date of redemption,
without premium.
* At least thirty (30) days before the date fixed for any such redemption,
the Dallas -Fort Worth International Airport Board (the "Board"), acting on
behalf of the Cities, shall cause a written notice of such redemption to be
given to the registered owner of each Bond or a portion thereof being called for
redemption by depositing such notice in the United States mail, postage prepaid,
addressed to each such registered owner at the address appearing on the
Registration Books maintained by the Paying Agent/Registrar. With respect to
Minutes of City Council S-3 Page 481
Tuesday, October 8, 1991
any registered owner of $10,000,000 or more of bonds of this series, such notice
Ordinance No. shall be sent by Certified Mail, with a Return Receipt. By the date fixed for
10928 cont. any such redemption, due provision shall be made with the Paying Agent/Registrar
for the payment of the principal amount of the bonds to be so redeemed, the
premium, if any, and accrued interest thereon to the date fixed for redemption.
If such written notice of redemption is given, and if due provision for payment
is made, all as provided above, the bonds, which are to be so redeemed, thereby
automatically shall be redeemed prior -to maturity, and they shall not bear
interest after the date fixed for redemption, and they shall not be regarded as
being outstanding except for the purpose of receiving the funds so provided for
such payment. The Paying Agent/Registrar shall record in the Registration Books
all such redemptions of principal of this bond or any portion hereof. If a
portion of any bond shall be redeemed a substitute bond or bonds having the same
maturity date, bearing interest at the same rate, in any denomination or
denominations in any integral multiple of $5,000, at the written request of the
registered owner, and in aggregate principal amount equal to the unredeemed
portion thereof, will be issued to the registered owner upon the surrender
thereof for cancellation, at the expense of the Cities.
* The bonds of this series are issued under and pursuant to the laws of the
State of Texas and an ordinance passed concurrently on November 11 and November
12, 1968, respectively, by the City Councils of the Cities of Dallas and Fort
Worth entitled "1968 Regional Airport Concurrent Bond Ordinance" (the "1968
Ordinance") and, together with any other "Bonds" (as defined in the 1968
Ordinance) heretofore or hereafter issued in accordance with the 1968 Ordinance
are equally and ratably secured by the revenues herein described.
* This bond is one of a duly authorized series of bonds of like tenor and
effect, except as to number, principal amount, interest rate, maturity and right
of prior redemption, aggregating $55,150,000, issued by the Cities for the
purpose of paying the Costs of the 1991A Project, such term contemplating and
relating to the construction of the improvements to the Dallas -Fort Worth
International Airport pursuant to the Twentieth Supplemental Regional Airport
Concurrent Bond Ordinance (the "Twentieth Supplemental Ordinance") adopted by
the City Councils of said Cities supplemental to the 1968 Ordinance. For the
purpose of providing for and securing the payment of the Bonds including this
series of bonds, the Cities have jointly pledged their respective interests in
the "Pledged Revenues" to be derived from the ownership and operation of the
Dallas -Fort Worth International Airport. Such Pledged Revenues will be on
deposit from time to time in various funds created by the 1968 Ordinance and
Ordinances supplemental thereto. Pledged Revenues are defined in the 1968
Ordinance to be the "Gross Revenues" of said Airport less the amount required
to pay the Senior Lien Bonds which matured and were paid on October 1, 1990.
Reference is made to the 1968 Ordinance, as supplemented, and the ordinance
authorizing this series of bonds for the definition of Gross Revenues and for
a description of the revenues and funds charged with and pledged to the payment
of the interest on and principal of the Bonds and the series of bonds of which
this bond is one, the nature and extent of the security thereof, a statement of
the rights, duties and obligations of each of the Cities, respectively, the
rights and remedies of bondholders in the event of default thereunder, and the
rights and priorities of the holders of said bonds, to all the provisions of
which the holder hereof by the acceptance of this bond assents and agrees.
* As provided in the 1968 Ordinance, the obligations of the Cities to pay
money hereon out of Pledged Revenues are joint, and not several, and except as
otherwise provided therein no claim, demand, suit or judgment shall ever be
asserted, entered or collected against or from one City without the other and
no individual liability shall ever exceed in the case of Dallas 7/11ths of the
total amount thereof, and in the case of Fort Worth 4/11ths of the total amount
thereof, and, except as otherwise provided in the 1968 Ordinance, such sums
shall be payable and collectable solely from the funds in which Pledged Revenues
shall from time to time be on deposit.
* The 1968 Ordinance, as supplemented, provides that, to the extent therein
stated, the Board, acting on behalf of the Cities, shall fix and shall from time
to time revise the rate of compensation for use of and for services rendered by
or at the Dallas -Fort Worth International Airport which will be fully sufficient
to produce Pledged Revenues adequate to pay the operation and maintenance
expenses thereof plus 1.25 times the amounts required to be deposited to the
credit of the Interest and Sinking Fund (established by the 1968 Ordinance) for
the payment of the principal of and interest on the parity Bonds from time to
time outstanding thereunder as the same shall become due and payable and to
timely purchase or redeem such Bonds prior to maturity as required therein. It
is further provided in said Ordinance that to the extent Pledged Revenues are
not adequate for said purposes and for the additional purpose of properly and
adequately maintaining and operating said Airport, the Cities pledge and
obligate themselves to levy and collect the ad valorem tax defined therein as
the "Maintenance Tax," and to devote the proceeds thereof to the purpose of
operating and maintaining said Airport in lieu of using revenues for said
purpose, subject at all times to the limits of said tax provided by law and in
Minutes of City Council S-3 Page 482
443
Tuesday, October 8, 1991
said Ordinance. As further provided in said Ordinance, the obligations of the
Ordinance N o. Cities to levy and collect such tax are several, and not joint, and no action,
10928 cont. claim, suit or demand shall be made against one City for the default of the
other, each City's respective obligation being limited to the collection of its
proportionate amount required from said tax for such purposes, all as specified
in said Ordinance.
* The registered owner hereof shall never have the right to demand payment
of this obligation out of any funds raised or to be raised by taxation.
* All bonds of this series are issuable solely as fully registered bonds,
without interest coupons, in the denomination of any integral multiple of
$5,000. As provided in the Twentieth Supplemental Ordinance, this bond, or any
unredeemed portion hereof, may, at the request of the registered owner or the
assignee or assignees hereof, be assigned, transferred and exchanged for a like
aggregate principal amount of fully registered bonds, without interest coupons,
payable to the appropriate registered owner, assignee or assignees, as the case
may be, having the same maturity date, and bearing interest at the same rate,
in any denomination or denominations in any integral multiple of $5,000 as
requested in writing by the appropriate registered owner, assignee or assignees,
as the case may be, upon surrender of this bond to the Paying Agent/Registrar
for cancellation, all in accordance with the form and procedures set forth in
the Ordinance. Among other requirements for such assignment and transfer, this
bond must be presented and surrendered to the Paying Agent/Registrar, together
with proper instruments of assignment, in form and with guarantee of signatures
satisfactory to the Paying Agent/Registrar, evidencing assignment of this bond
or any portion or portions hereof in any integral multiple of $5,000 to the
assignee or assignees in whose name or names this bond or any such portion or
portions hereof is or are to be transferred and registered. The form of
assignment printed or endorsed on this bond may be executed by the registered
owner to evidence the assignment hereof, but such method is not exclusive, and
other instruments of assignment satisfactory to the Paying Agent/Registrar may
be used to evidence the assignment of this bond or any portion or portions
hereof from time to time by the registered owner. In the case of an assignment,
transfer or exchange of a bond or bonds or any portion or portions thereof, the
fees and charges of the Paying Agent/Registrar will be paid by the Cities, but
any taxes or governmental charges required to be paid with respect thereto shall
be paid by the one requesting such assignment, transfer or exchange as a
condition precedent to the exercise of such privilege. In any circumstance,
neither the Cities nor the Paying Agent/Registrar shall be required to transfer
or exchange any bonds selected for redemption when such redemption is scheduled
to occur within 45 calendar days; provided, however, such limitation shall not
apply to an exchange by the holder of an unredeemed balance of a bond called for
redemption in part.
* In the event any Paying Agent/Registrar for the bonds is changed by the
Cities, resigns or otherwise ceases to act as such, the Cities have covenanted
in the Twentieth Supplemental Ordinance that they promptly will appoint a
competent and legally qualified substitute therefor, whose qualifications
substantially are similar to the previous Paying Agent/Registrar it is
replacing, and promptly will cause written notice thereof to be mailed to the
registered owners of the bonds.
* By becoming the registered owner of this bond, the registered owner
thereby acknowledges all of the terms and provisions of the 1968 Ordinance, as
supplemented, agrees to be bound by such terms and provisions, acknowledges that
said Ordinance is duly recorded and available for inspection in the official
minutes and records of the Cities, and agrees that the terms and provisions of
this bond and said Ordinance constitute a contract between each registered owner
hereof and the Cities.
It is hereby certified and recited that all acts and things required by
the Constitution and laws of the State of Texas to be done, to exist and to be
performed precedent to and in the issuance of this bond and the series of which
it is one have been done, do exist and have been performed as so required.
IN WITNESS WHEREOF, the City Council of the City of Dallas, Texas, has
caused the facsimile seal of that City to be placed hereon and this bond to be
signed by the facsimile signature of. its Mayor and countersigned by the
facsimile signatures of its Director of Finance and City Secretary; and the City
Council of the City of Fort Worth, Texas, has caused the facsimile seal of that
Minutes of City Council S-3 Page 483
Tuesday, October 8, 1991
City to be placed hereon and this bond to be signed by the facsimile signature
Ordinance No. of its Mayor, countersigned by the facsimile signature of its City Secretary,
10928 cont. and approved as to form and legality by the facsimile signature of its City
Attorney.
COUNTERSIGNED:
Director of Finance,
City of Dallas, Texas
City Secretary,
City of Dallas, Texas
COUNTERSIGNED:
City Secretary,
City of Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
City Attorney,
City of Fort Worth, Texas
Mayor, City of Dallas, Texas
Mayor, City of Fort Worth, Texas
[FORM OF PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE]
PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
It is hereby certified that this bond has been issued under the provisions
of said Ordinance described on the face of this bond; and that this bond has
been issued in exchange for or replacement of a bond, bonds, or a portion of a
bond or bonds of an issue which originally was approved by the Attorney General
of the State of Texas and registered by the Comptroller of Public Accounts of
the State of Texas.
Dated
Paying Agent/Registrar
By
Authorized Signature
* [FORM OF ASSIGNMENT]
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
(Please insert Social Security or Taxpayer Identification Number of Transferee)
kriease print or type name and address, including zip code of Transferee)
the within Bond and all rights thereunder, and hereby irrevocably constitutes
and appoints attorney to register the
transfer of the within Bond on the books kept for regilstration thereof with full
power of substitution in the premises.
Minutes of City Council S-3 Page 484
Tuesday, October 8, 1991
Dated:
Ordinance No.
10928 cont. 11 Signature Guaranteed:
NOTICE: Signature(s) must NOTICE: The signature(s) above
be guaranteed by a member must correspond with the name
firm of the New York Stock of the Registered Owner as it
Exchange or a commercial appears upon the front of this
bank or trust company. Bond in every particular, with-
out alteration or enlargement
or any change whatsoever.
** ..[FORM OF COMPTROLLER'S CERTIFICATE ATTACHED TO
THE BONDS UPON INITIAL DELIVERY THEREOF]
OFFICE OF COMPTROLLER
STATE OF TEXAS
REGISTER NO.
4,:s
I hereby certify that there is on file and of record in my office a
certificate of the Attorney General of the State of Texas to the effect that
this.Bond has been examined by him as required by law, and that he finds that
it has been issued in conformity with the Constitution and laws of the State of
Texas, and that it is a valid and binding special obligation of the Cities of
Dallas and Fort Worth, Texas, payable. in the manner.provided by and in the
ordinance authorizing same, and said Bond has this'day been registered by me.
(Seal)
WITNESS MY HAND and seal of office at Austin, Texas
Comptroller of Public Accounts of the State of Texas
FORM OF INITIAL BOND
The Initial Bond shall be in the form set forth above, except that there
will be no Paying A ent/Re istrar Certificate and the form of the single
fully registered Initial Bond shall be modified as follows:
(i) Immediately after the name of the Bond the headings "INTEREST RATE
If
and "MATURITY DATE it shall be both completed with the
words "as shown below" and the headings "Original Issue Date",
"Cusip" and "Principal Amount" shall not appear thereon.
(ii) Paragraph one shall read as follows:
On the Maturity Dates specified below, the Cities of Dallas and Fort Worth
(herein collectively called the "Cities") municipal corporations duly
incorporated under the laws of the State of Texas, for value received, hereby
jointly promise to pay to the Registered Owner shown above, or to the registered
assignee hereof (either being hereinafter called the "registered owner") solely
from the revenues and the funds described herein, the principal amount as shown
below and to pay interest thereon at the interest rates shown below, from
October 1, 1991, to the dates of scheduled maturity or the date of its
redemption prior to scheduled maturity, with said interest being payable on May
1, 1992, and semiannually on each November 1 and May 1 thereafter.
MATURITY
DATE
PRINCIPAL
AMOUNT
INTEREST
RATE
(Information to be inserted from schedules
in Sections 3.2 and 3.3).
*1 to be on reverse of bond
**I not to be on bond
Minutes of City Council S-3 Page 485
..So
Tuesday, October 8, 1991
ARTICLE IV
Ordinance No. EXECUTION, APPROVAL, REGISTRATION, SALE
10928 cont. AND DELIVERY OF SERIES 1991A BONDS
Section 4.1. Method of Execution. Each of the Series 1991A Bonds shall
be signed and executed on behalf of the City of Dallas by the manual or
facsimile signature of its Mayor and countersigned by the manual or facsimile
signatures of its Director of Finance and City Secretary, and the corporate seal
of that City shall be impressed or printed or lithographed on each bond. Each
of the Series 1991A Bonds shall be signed and executed on behalf of the City of
Fort Worth by the manual or facsimile signature of its Mayor and countersigned
by the manual or facsimile signature of its City Secretary; the same shall be
approved as to form and legality by the manual or facsimile signature of the
City Attorney of the City, and its corporate seal shall be impressed or printed
or lithographed upon each bond. All manual or facsimile signatures placed upon
the Series 1991A Bonds shall have the same effect as if manually placed thereon,
all as provided in Article 717j-1, V.A.T.C.S., as amended.
Section 4.2. Approval and Registration. The Board is hereby authorized
to have control and custody of the Series 1991A Bonds and all necessary records
and proceedings pertaining thereto pending their delivery, and the Chairman and
officers and employees of the Board and of the Cities are hereby authorized and
instructed to make such certifications and to execute such instruments as may
be necessary to accomplish the delivery of said bonds to the Attorney General
of the State of Texas and to assure the investigation, examination and approval
thereof by the Attorney General of the State of Texas and their registration by
the Comptroller of Public Accounts. Upon registration of the Series 1991A
Bonds, the Comptroller of Public Accounts (or a deputy designated in writing
to act for him) shall manually sign the. Comptroller's Registration
Certificate accompanying the Series 1991A Bonds, and the seal of the Comptroller
shall be impressed, or placed in facsimile, on each such certificate. The
Chairman of the Board and the Executive Director of the Airport shall be further
authorized to make such agreements and arrangements with the purchasers of said
bonds and with the Paying Agent/Registrar as may be necessary to assure that the
same will be delivered to such purchasers in accordance with the terms of sale.
Section 4.3. A. The Sale of the Bonds. The Series 1991A Bonds are
hereby sold in accordance with law and shall be delivered to the Underwriters
(listed in Schedule I to the Underwriting Agreement, dated October 9, 1991), at
the price of $53,152,742.60, plus accrued interest on the Series 1991A Bonds
from October 1, 1991 to and through the day preceding the date of delivery and
in accordance with the terms and conditions set forth in said Underwriting
Agreement. The Cities hereby agree and direct that the Series 1991A Bonds shall
be offered and sold at the Original Issue Discounts as set forth on the cover
of the Official Statement relating to the Series 1991A Bonds approved by the
Board. The initial Series 1991A Bond shall be registered in the name of Lehman
Brothers.
B. Underwriting Agreement. The Underwriting Agreement setting forth the
terms of the sale of the Series 1991A Bonds to the purchasers thereof referred
to in Section 4.3A above, including the Underwriting Fee and the reimbursement
of the Original Issue Discount, is hereby accepted, approved and authorized to
be delivered in executed form to the said purchasers. The Underwriting
Agreement shall be executed on behalf of the City of Dallas by the City Manager
with its corporate seal impressed thereon, attested by the City Secretary, and
approved as to form by the City Attorney. The Underwriting Agreement shall be
executed on behalf of the City of Fort Worth by the City Manager with its
corporate seal impressed thereon, attested by the City Secretary, and approved
as to form and legality by the City Attorney.
C. TEFRA Approval. Richard S. Williams is hereby appointed to be the
designated Hearing Officer for a public hearing relating to the Series 1991A
Bonds to be held for purposes of satisfying Section 147 of the Code and the
Mayors are hereby authorized to approve the issuance of the Bonds and the use
of the proceeds thereof for the purpose of satisfying the requirements of
Section 147 of the Code.
D. Approval of Credit Agreements. The Board is hereby authorized to
enter into from time to time while the Series 1991A Bonds are outstanding credit
agreements relating to the Series 1991A Bonds in accordance with Article 717q
V.A.T.C.S., as amended. Any amounts due and owing by the Board under such
credit agreements shall be Operation and Maintenance Expenses payable solely
from the Operating Revenue and Expense Fund in accordance with the flow of funds
and order of priorities established by Section 7.3 of the 1968 Ordinance.
Minutes of City Council S-3 Page 486
4S
Tuesday, October 8, 1991
ARTICLE V
Ordinance No. DISPOSITION OF BOND PROCEEDS
10928 cont.
Section 5.1. Reserve Fund. In accordance with the requirements of the
1970 Ordinance it is hereby found and determined that the amount in the Reserve
Fund is greater than or equal to not less than the average total annual deposits
required for the payment of the principal of and.interest on the Series 1991A
Bonds and the Series 1991 Bonds, simultaneously issued, and the Outstanding
Bonds. No additional deposit to the Reserve Fund is required to be made from
the proceeds of the Series 1991A Bonds. '.
Section 5.2. Construction Fund. Except as otherwise provided in Section
5.1, all proceeds derived from the sale of the Series 1991A Bonds shall be
deposited promptly upon the receipt thereof to the credit of the Construction
Fund and said proceeds shall be used solely for the purpose of defraying a part
of the Costs of the 1991A Project (including 'interest accruing during
construction on the Series 1991A Project) in accordance with the 1968 Ordinance
and Section 6.3 of this 1991A Ordinance, and shall be accounted for and expended
for said purposes at the time, in the order and as provided in the 1968
Ordinance.
ARTICLE VI
ADOPTION OF PROVISIONS OF CERTAIN ORDINANCES, PLEDGE,
INTEREST AND SINKING FUND
Section 6.1. Adoption. The Series 1991A Bonds are authorized as
"Additional Parity Bonds" as the term is defined herein and as permitted to be
issued in the 1968 Ordinance, and in addition to the definitions set forth in
Article II of the 1968 Ordinance heretofore adopted, for purposes of this 1991A
Ordinance, Section 2.2 of Article II and Articles V through XI, both inclusive,
of the 1968 Ordinance, Sections 7.2 and 7.3 of the 1970 Ordinance, Sections 7.2
and 7.4 of the 1976 Ordinance and Sections 6.4 and 7.2 of the 1977 Ordinance are
hereby adopted by reference and shall be applicable to the Series 1991A Bonds
for all purposes, except to the extent hereinafter specifically modified or
supplemented.
Section 6.2. Pledge. The principal of and the interest on the Series
1991A Bonds and the Outstanding Bonds are and shall be secured by and payable
from a first lien on and pledge of the Pledged Revenues and the funds in which
they shall from time to time be on deposit. Such revenues are hereby
irrevocably pledged to the payment of the Outstanding Bonds, the Series 1991A
Bonds and any other Bonds hereafter issued in accordance with the terms of the
1968 Ordinance.
Section 6.3. Interest and Sinking Fund. In addition to all other amounts
required by the 1972 Ordinance, the 1976 Ordinance, the 1977 Ordinance, the 1978
Ordinance, the 1982A Ordinance, the 1984 Ordinance, the 1984A Ordinance, the
1985 Ordinance, the 1992 Ordinance, the 1992A Ordinance and the 1994 Ordinance,
so long as any of the Series 1991A Bonds remain outstanding and unpaid the Board
shall transfer on or before the 1st day of each month, from the Operating
Revenue and Expense Fund (except for the amounts of (1) the accrued interest,
if any, received from the purchasers of the Series 1991A Bonds and (2) the
interest to come due on the Series 1991A Bonds determined by the Director of
Finance to be funded during such month, in accordance with federal requirements
as to tax -exemption, from the proceeds of the 1991 Bonds on deposit in the
Construction Fund) to the Interest and Sinking Fund, after taking into account
unexpended investment earnings on deposit in the Interest and Sinking Fund:
A. beginning on November 1, 1991, in equal monthly installments an amount
necessary to provide 1/6 of the amount of interest to become due on the Series
1991A Bonds on May 1, 1992, and thereafter in equal monthly installments an
amount necessary to provide 1/6th of the amount of interest to become due on the
Series 1991A Bonds on November 1, 1992 and on each succeeding interest payment
date thereafter;
B. beginning on October 1, 1994 for the Series 1991A Bonds maturing
November 1, 1995 to November 1, 2006, both inclusive, an amount necessary to
provide in twelve equal installments the amount of principal of the Series 1991A
Bonds maturing on November 1 following each of the twelve month periods ending
September 30, 1995, through September 30, 2006; and
C. beginning on October 1, 2006 and on the first day of each month
thereafter through September 1, 2021 for each twelve-month period ending
September 30, one -twelfth of the amounts indicated, as follows:
2007
$1,955,000
2015
$3,265,000
2008
2,085,000
2016
3,485,000
2009
2,225,000
2017
3,175,000
2010
2,370,000
2018
3,960,000
Minutes of City Council S-3 Page 487
LISS-
Tuesday, October 8, 1991
2011 2,525,000 2019 4,220,000
Ordinance No. 2012 2,695,000 2020 4,500,000
10928 cont. 2013 2,875,000 2021 4,805,000
2014 3,065,000
The sinking fund payments required by this sub -paragraph C may be used to
purchase Series 1991A Bonds as permitted in Section 7.4 of the 1968 Ordinance,
and to the extent not so used, shall be used to redeem prior to stated maturity
or to pay at final maturity, on November 1 in each of the years 2007 through
2011, both inclusive, the Series 1991A Bonds maturing on November 1, 2011 and
on November 1 in each of the years 2012 through 2021, both inclusive, the Series
1991A Bonds maturing on November 1, 2021, at the principal amount thereof and
accrued interest to date of redemption or maturity without premium. It shall
be determined that the annual transfers to the Interest and Sinking Fund
required by this sub -paragraph C will produce a surplus in the Interest and
Sinking Fund at maturity of the Series 1991A Bonds, the annual sinking fund
payments required by this sub -paragraph C on account of the Series 1991A Bonds
shall be reduced in approximately equal amounts.
Section 6.4. Transfers to Paying Agent/Registrar. The Director of
Finance shall make transfers of funds on deposit in the Interest and Sinking
Fund for payment of the principal of and interest on the Series 1991A Bonds to
the Paying Agent/Registrar on the applicable due dates and redemption dates in
immediately available funds.
ARTICLE VII
MISCELLANEOUS COVENANTS AND PROVISIONS
Section 7.1. Covenants Regarding Tax -Exemption.
A. The Cities covenant to take any action or refrain from any action
which would adversely affect the treatment of the Series 1991A Bonds as
obligations described in section 103 of the Internal Revenue Code of 1986, as
amended (the "Code"), the interest on which is not includable in the "gross
income" of the holder (other than the income of a "substantial user" of the
Project or a "related person" within the meaning of section 147(a) of the Code)
for purposes of federal income taxation. In furtherance thereof, the Cities
covenant and represent as follows:
(a) to take such action or refrain from such action which would
result in the Series 1991A Bonds not being "exempt facility bonds" as the
term is defined in section 142 of the Code; in particular, which would
result in less than 95 percent of the net proceeds being used to provide
an "airport" within the meaning of section 142(a)(1) of the Code;
(b) to take such action to assure at all times that the Series
1991A Bonds remain outstanding, the facilities, directly or indirectly,
financed with the proceeds thereof will be owned by a governmental unit;
(c) that no part of the facilities, directly or indirectly,
financed with the proceeds of the Series 1991A Bonds will constitute (i)
any lodging facility, (ii) any retail facility (including food or beverage
facilities) in excess. of a size necessary to serve passengers and
employees at the exempt facility, (iii) any retail facility (other than
parking) for passengers or the general public located outside the exempt
facility terminal, (iv) any office building for individuals who are not
employees of a governmental unit or of the operating authority for the
exempt facility, or (v) any industrial park or manufacturing facility;
(d) that the maturity of the Series 1991A Bonds does not exceed 120
percent of the economic life of the facilities, directly or indirectly,
financed with the proceeds of the Series 1991A Bonds, as more specifically
set forth in section 147(b) of the Code;
(e) that fewer than 25 percent of the proceeds of the Series 1991A
Bonds will be used for the acquisition of land or an interest therein,
unless such land is acquired for noise abatement or wetland preservation
or the future use of the airport, and there is no other significant use
of such land;
(f) that any property acquired, directly or indirectly, with the
proceeds of the Series 1991A Bonds was not placed -in-service prior to such
acquisition unless the provisions of section 147(d) of the Code, relating
to rehabilitation, are satisfied;
(g) that the costs of issuance to be financed with the proceeds of
the Series 1991A Bonds do not exceed two (2) percent of the proceeds of
the Series 1991A Bonds;
Minutes of City Council S-3 Page 488
LIS9
Tuesday, October 8, 1991
(h) to refrain from taking any action that would result in the
rdi nance No. Series 1991A Bonds being "federally guaranteed" within the meaning of
0928 cont. section 149(b) of the Code;
(i) to refrain from using any portion of the proceeds of the
Series 1991 Bonds or the Series 1991A Bonds, directly or indirectly, to
acquire or to replace funds which were used,.directly or indirectly, to
acquire investment property (as defined in section 148(b)(2) of the Code)
which produces a materially higher yield over the term of the Series 1991
Bonds or the Series 1991A Bonds, other than investment property acquired
with --
(1) proceeds of the Series 1991 Bonds or the Series 1991A
Bonds invested for a reasonable temporary period of 3 years or less
until such proceeds are needed for the purpose for which the bonds
are issued,
(2) amounts invested in a bona fide debt service fund,
within the meaning of section. 1.103-13(b)(12) of the Treasury
Regulations, and
(3) amounts deposited in any reasonably required reserve or
replacement fund to the extent such amounts do not exceed 10
percent of the proceeds of-�the Series 1991 Bonds or the Series
1991A Bonds and to the extent that at no time during any bond year
will be aggregate amount so invested exceed 150 percent of debt
service on the Series 1991 Bonds and the' Series 1991A Bonds for
such year;
(j) to otherwise restrict the use of the proceeds of the Series
1991 Bonds or the Series 1991A Bonds or amounts treated as proceeds of the
Series 1991 Bonds or the Series 1991A Bonds, as may be necessary, so that
the Series 1991 Bonds or the Series 1991A Bonds do not otherwise
contravene the requirements of section 148 of the Code (relating to
arbitrage) and, to the extent applicable, section 149(d) of the Code
(relating to advance refundings);
(k) to pay to the United States of America at least once during
each five-year period (beginning on the date of delivery of the Series
1991 Bonds or the Series 1991A Bonds) an amount that is at least equal to
90 percent of the "Excess Earnings," within the meaning of section 148(f)
of the Code and to pay to the United States of America, not later than 60
days after the Series 1991 Bonds and the Series 1991A Bonds have been paid
in full, 100 percent of the amount then required to be paid as a result
of Excess Earnings under section 148(f) of the Code; and
(1) to maintain such records as will enable the Cities to fulfill
their responsibilities under this section and section 148 of the Code and
to retain such records for at least six years following the final payment
of principal and interest on the Series 1991 Bonds and the Series 1991A
Bonds.
It is the understanding of the Cities that the covenants contained in this
Agreement are intended to assure compliance with the Code and any regulations
or rulings promulgated by the U.S. Department of the Treasury pursuant thereto.
In the event that regulations or rulings are hereafter promulgated which modify,
or expand provisions of the Code, as applicable to the Series 1991A Bonds, the
Cities will not be required to comply with any covenant contained herein to the
extent that such failure to comply, in the opinion of nationally -recognized bond
counsel, will not adversely affect the exemption from federal income taxation
of interest on the Series 1991A Bonds under section 103 of the Code. In the
event that regulations or rulings are hereafter promulgated which impose
additional requirements which are applicable to the Series 1991A Bonds, the
Cities agree to comply with the additional requirements to the extent necessary,
in the opinion of nationally -recognized bond counsel, to preserve the exemption
from federal income taxation of interest on the Series 1991A Bonds under section
103 of the Code.
Section 7.2. Covenant Not to Impair. The Cities covenant that the
Dallas -Fort Worth Regional Airport Use Agreement, entered into between the Board
and various airlines, as amended by the Second Amendment, dated as of October
1, 1981, the Passenger Service Special Facilities Agreement, dated as of April
1, 1972, and the Capital Improvement Trust Account Agreement dated as of April
1, 1972, as amended as of October 1, 1981, will not be amended, altered or
rescinded in any manner so as to impair the rights or,security of the holders
of the Series 1991A Bonds.
Section 7.3. Observance of Covenants. The Board, the officers, employees
and agents are hereby directed to observe, comply with and carry out the terms
and provisions of this 1991A Ordinance.
Minutes of City Council S-3 Page 489
L,
tJ
Tuesday, October 8, 1991
Ordinance No. Section 7.4. Damaged, Mutilated, Lost, Stolen or Destroyed Bonds.
10928:cont. A. In the event any outstanding Series 1991A Bond is damaged, mutilated,
lost, stolen or destroyed, the Paying Agent/Registrar shall cause to be printed,
executed and delivered, a new bond of the same principal amount, maturity and
interest rate, as the damaged, mutilated, lost, stolen or destroyed Series 1991A
Bond, in replacement for such Series 1991A Bond in the manner hereinafter
provided.
B. Application for replacement of damaged, mutilated, lost, stolen or
destroyed Series 1991A Bonds shall be made to the Paying Agent/Registrar. In
every case of loss, theft or destruction of a Series 1991A Bond, the applicant
for a replacement bond shall furnish to the Cities and to the Paying
Agent/Registrar such security or indemnity as may be required by them to save
each of them harmless from any loss or damage with respect thereto. Also, in
every case of loss, theft or destruction of a Series 1991A Bond, the applicant
shall furnish to the Cities and to the Paying Agent/Registrar evidence to their
satisfaction of the loss, theft or destruction of such Series 1991A Bond, as the
case may be. In every case of damage or mutilation of a Series 1991A Bond, the
applicant shall surrender to the Paying Agent/Registrar for cancellation the
Series 1991A Bond so damaged or mutilated.
C. Notwithstanding the foregoing provisions of this Section, in the event
any such Series 1991A Bond shall have matured, and no default has occurred which
is then continuing in the payment of the principal of, redemption premium, if
any, or interest on the Series 1991A Bond, the Cities may authorize the payment
of the same (without surrender thereof except in the case of a damaged or
mutilated Series 1991A Bond) instead of issuing a replacement Series 1991A Bond,
provided security or indemnity is furnished as above provided in this Section.
D. Prior to the issuance of any replacement bond, the Paying
Agent/Registrar shall charge the owner of such Series 1991A Bond with all legal,
printing and other expenses in connection therewith. Every replacement bond
issued pursuant to the provisions of this Section by virtue of the fact that any
Series 1991A Bond is lost, stolen or destroyed shall constitute a contractual
obligation of the Cities whether or not the lost, stolen or destroyed Series
1991A Bond shall be found at any time, or be enforceable by anyone, and shall
be entitled to all the benefits of this 1991A Ordinance equally and
proportionately with any and all other Series 1991A Bonds duly issued under this
1991A Ordinance.
E. In accordance with Section 6 of Art. 717k-6, V.A.T.C.S., as amended,
this Section of this 1991A Ordinance shall constitute authority for the issuance
of any such replacement bond without 'necessity of further action by the
governing body of the Cities or any other body or person, and the duty of the
replacement of such bonds is hereby authorized and imposed upon the Paying
Agent/Registrar, and the Paying Agent/Registrar shall authenticate and deliver
such bonds in the form and manner and with the effect, as provided in Section
3.4D of this 1991A Ordinance for Series 1991A Bonds issued in exchange for other
Series 1991A Bonds.
Section 7.5. Bond Insurance. The Series 1991A Bonds have been offered
with a commitment for bond insurance provided by Financial Guaranty Insurance
Company, a New York stock insurance company ("Financial Guaranty"), with the
bond insurance to be evidenced by the then current legal form of the Municipal
Bond New Issue Insurance Policy (the "Policy"). The Cities have sold the Series
1991A Bonds based on such Commitment. In accordance with the terms and
conditions applicable to the Policy provided by Financial Guaranty, the Cities
covenant and agree that:
A. Optional Redemption of Bonds. Notwithstanding the provisions of
Section 4(e) hereof, prior to the circulation of any notice of redemption of the
Series 1991A Bonds (other than mandatory sinking fund redemption and excepting
any notice that refers to Bonds that are the subject of an advance refunding),
sufficient funds to pay the redemption price of the Series 1991A Bonds to be
redeemed shall have been deposited with the Paying Agent/Registrar to accomplish
such redemption. In addition, Financial Guaranty shall be provided with notice
of the redemption of any of the Series 1991A Bonds (other than mandatory sinking
fund redemption).
B. Event of Default. Upon the occurrence of an Event of Default which
would require Financial Guaranty to make payments under the Policy, Financial
Guaranty and its designated agent shall be provided with access to the
Registration Books relating to the Series 1991A Bonds. In addition, Financial
Guaranty shall be deemed the sole Holder of the Series 1991A Bonds with respect
to any action taken pursuant to Section 10.2 of the 1968 Ordinance. In
determining whether a payment default relating to the Series 1991A Bonds has
occurred pursuant to Section 10.1 of the 1968 Ordinance, no effect shall be
given to payments made under the Policy. Furthermore, notice of any payment
Minutes of City Council S-3 Page 490
Tuesday, October 8, 1991
default with respect to the Bonds shall be given immediately by the Board to
Ordinance No. Financial Guaranty.
10928 cont.
C. Amendments and Modifications to Ordinance. Notwithstanding the
provisions of Section 11.1 of the 1968 Ordinance, any amendment or modification
to the 1991A Ordinance shall be subject to the prior written consent of
Financial Guaranty which shall not be unreasonably withheld. For the purposes
of Section 11.1 of the 1986 Ordinance Financial Guaranty shall be treated as the
Holder of the .Series 1991A Bonds with respect to consent to any amendments
thereunder. In addition, Financial Guaranty shall be provided by the Board with
all proceedings relating to any amendment or modification to the 1991A
Ordinance.
D. Notices. Unless otherwise directed, all notices to Financial Guaranty
hereunder shall be addressed:
Financial Guaranty Insurance Company
175 Water Street
New York, New York 10038
Attention: General Counsel
E. Paying Agent/Registrar. Notwithstanding Section 3.4 hereof, no
resignation or removal of the Paying Agent/Registrar. shall become effective
until a successor has been appointed and has accepted the duties of the Paying
Agent/Registrar. Financial Guaranty shall be furnished with written notice of
the resignation or removal of the Paying Agent/Registrar and the appointment of
any successor thereto.
F. Information and Data. The following information and.data shall be
provided to Financial Guaranty by the Board periodically as noted:
1. Annually, when available, the Airport Budget as approved by the
Cities and the annual audited financial statements.
2. An official statement or offering document, if any, prepared in
connection with the issuance of any Bonds.
3. Notice of any draw upon the Debt Service Reserve Fund.
4. Simultaneously with the delivery of the annual audited financial
statements such other statistical data concerning passenger statistics,
landed weights and aircraft operations as are compiled and made generally
available by the Airport.
ARTICLE VIII
AMENDMENTS TO ORDINANCE
Section 8.01. Amendments. This 1991A Ordinance may be amended by
concurrent ordinances adopted by the City Councils, in the same manner as
provided in the 1968 Ordinance for the amendment of the 1968 Ordinance.
ARTICLE IX
SEVERABILITY, REPEAL AND COUNTERPARTS
Section 9.1. Ordinance Irrepealable. After any of the Series 1991A Bonds
shall be issued, this 1991A Ordinance shall constitute a contract between the
Cities and the owner or owners of the Series 1991A Bonds from time to time
outstanding, and this 1991A Ordinance shall be and remain irrepealable until the
Series 1991A Bonds and the interest thereon shall be fully paid, cancelled,
refunded or discharged or provision for the payment thereof shall be made.
Section 9.2. Severability. If any Section, paragraph, clause or pro-
vision of this 1991A Ordinance shall for any reason be held to be invalid or un-
enforceable, the invalidity or unenforceability of such Section, paragraph,
clause or provision shall not affect any of the remaining provisions of this
1991A Ordinance. If any Section, paragraph, clause or provision of the Contract
and Agreement shall for any reason be held to be invalid or unenforceable, the
invalidity or unenforceability of such Section, paragraph, clause or provision
shall not affect any of the remaining provisions of the Contract and Agreement,
or of any other provisions of this 1991A Ordinance not dependent directly for
effectiveness upon the provision of the Contract and Agreement thus declared to
be invalid and unenforceable.
Section 9.3. Repealer. All orders, resolutions and ordinances, or parts
thereof, inconsistent herewith are hereby repealed to the extent of any such
inconsistency.
Minutes of City Council S-3 Page 491
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Tuesday, October 8, 1991
Section 9.4. Counterparts. This 1991A Ordinance may be executed in
Ordinance No. counterparts, and when duly passed by both Cities, and separate counterparts are
10928 cont. duly executed by each City, the Ordinance shall be in full force and effect.
Mayor Granger re Mayor Granger announced that Phase II of the Redistricting process was officially
Phase II of the initiated on October 1, 1991; that the Citizen's Guides on reapportionment are available in
Redistricting
the City Secretary's Office located on the third floor of City Hall, 1000 Throckmorton; that
a nuts and bolts workshop on Redistricting will be conducted at City Hall on Thursday,
October 17, 1991, at 6:30 p.m. for persons who have never had any experience in
Council Member redistricting and wish to be involved in this process.
Puente
Council Member Puente brought to the attention of the Cit Council correspondence
Correspondence 9 y P
from Mr. Gary Lipe received from Mr. Gary Lipe regarding Fort Worth Independent School District involving it's
regarding FWISO high school government classes in City government and was advised by Assistant City Manager
Ramon Guajardo that an effort is being made to initiate this program.
Mayor Pro tempore Mayor Pro tempore Webber announced that the Housing Program Committee will be
Webber re Housing conducting a public forum on October 14, 1991, from 4:00 p.m. through 6:30 p.m. in the City
Program Committee Council Chambers to receive citizens' testimony on the community's banking and credit needs.
M&C OCS-341 re There was presented Mayor and Council Communication No. OCS-341 from the Office of the
payment to Tarrant City Secretary, as follows:
County Elections
Administrator
SUBJECT: PAYMENTS TO TARRANT COUNTY ELECTIONS ADMINISTRATOR AND FORT WORTH
INDEPENDENT SCHOOL DISTRICT FOR SERVICES IN CONNECTION WITH CHARTER
AMENDMENT ELECTION ON AUGUST 10, 1991
RECOMMENDATION:
It is recommended that the City Council
Tarrant County Elections Administrator
the August 10, 1991, Charter Amendment
DISCUSSION:
authorize payment of $43,057.44 to the
for services related to the conduct of
Election.
The City of Fort Worth conducted a Charter Amendment Election on August 10,
1991, as the result of the submission of petitions calling same on the issue of
Police Department Pay. The City of Fort Worth contracted with the Tarrant
County Elections Administrator for specified services and paid a deposit at the
time of the contract approval of $47,000.00. The total due at this time is
$43,057.44.
The City of Fort Worth used 56 schools belonging to the Fort Worth Independent
School District. Authorization for payment of the school rentals will be sought
at the time a revised bill is received from the Fort Worth Independent School
District.
The individual election costs are as follows:
Training of Election judges and clerks
Compensation of election judges and clerks
Ballot preparation and distribution
Ballots, printing of
Election Judges Kits, preparation and distribution
Election judges kits
Tables and chairs, rental and delivery
OPTECH voting machines, rental and delivery
Rental of voting locations, excluding FWISD
Absentee voting clerks, compensation
Absentee votes mail postage
Absentee ballot board, compensation
Central Counting Station personnel/equipment
Preparation of canvass
GRAND TOTAL
LESS DEPOSIT
TOTAL DUE
Does not include fee to be paid to F.W.I.S.D.
FISCAL INFORMATION:
$ 160.00
34,038.75
200.00
6,104.00
200.00
5,200.00
467.60
12,900.00
3,442.00
21,755.65
1,129.44
1,500.00
960.00
2,000.00
$90,057.44
-47,000.00
$43,057.44
Funds are available in the 1990-91 budget of the City Secretary's Office,
Elections Division.
M&C OCS-341 On motion of Council Member Chappell, seconded by Council Member Silcox, the recommendation,
adopted as contained in Mayor and Council Communication No. OCS-341, was adopted.
M&C OCS-342 re
Claims There was presented Mayor and Council Communication No. OCS-342 from the Office of the
City Secretary recommending that the City Council refer notices of claims received regarding
Minutes of City Council S-3 Page 492
4vV
Tuesday, October 8, 1991
M & C 0 CS -342 alleged damages and/or injuries to the Risk Management Department, as follows:
corrected cont.
Kirk B. Davis 1. Cl aimant: Kirk B. Davis
Date Received: September 26, 1991
Date of Incident: Undeclared
Location of Incident: 2000 Ellis
Estimate of Damages/
Injuries: $3,543.99 - $3,400.99
Nature of Incident: Claimant alleges damages to vehicle as result of
road conditions.
Everett Mariuce 2. Claimant: Everett Mariuce Jordan
Jordan Date Received: September 26, 1991
Date of Incident: Saturday
Location of Incident: 3850 Castleman
Estimate of Damages/
Injuries: $2,500.00 - $3,500.00
Nature of Incident: Claimant alleges injuries sustained as result of
tripping over a "suge" hole.
Donald M. Smith 3. Claimant: Donald M. Smith
Date Received: September 26, 1991
Date of Incident: August 10, 1991
Location of Incident: 5400 Westcreek Dr.
Estimate of Damages/
Injuries: $100.00
Nature of Incident: Claimant alleges damages to private vehicle
sustained allegedly as result of being shot at
while in process of apprehending suspect.
William Clinton 4. Claimant: William Clinton Morrison
Morrison Date Received: September 26, 1991
Date of Incident: September 19, 1991
Location of Incident: 5200 James Avenue
Estimate of Damages/
Injuries: Undeclared
Nature of Incident: Claimant alleges damages to vehicle sustained as
result of road conditions.
Nathan Kelly 5. Claimant: Nathan Kelly Bell
Bell Date Received: September 26, 1991
Date of Incident: September 5, 1991
Location of Incident: 1150 Troost Street F.W. Texas
Estimate.of Damages/
Injuries: $432.87 - $465.65 plus tax
Nature of Incident: Claimant alleges damages to vehicle as result of
road conditions.
Zachary Dean 6. Claimant: Zachary Dean Conover, by next friend, Aubrey
Conover, by next Dean Conover
friend, Aubrey Date Received: September 30, 1991
Dean Conover Date of Incident: September 8, 1991
Attorney: Charles S. Leeper
Location of Incident: West Creek Park
Estimate of Damages/
Injuries: $8,093.30
Nature of Incident: Claimant alleges injuries sustained by her son,
Zachary Dean Conover, as result of being injured
on alleged defective see -saw.
Gregory Allen 7. Claimant: Gregory Allen McConkey, filed by wife, Cindy
McConkey, filed M. McConkey
by wife, Cindy Date Received: September 30, 1991
M. McConkey Date of Incident: August 10, 1991
Location of Incident: 5400 White Settlement Bridge
Estimate of Damages/
Injuries: $1,000,000.00 Wrongful Death - $250,000.00
Survivorship Claim
Nature of Incident: Claimant alleges damages sustained as result of
wrongful death of Gregory Allen McConkey, husband.
P1 i ni a Sherman 8. Claimant: P1 inia Sherman
Date Received: October 1, 1991
Date of Incident: August 15, 1991
Attorney: Jim Puff
Location of Incident: 2100 Amanda Ave., Fort Worth, Tx
Estimate of Damages/
Injuries: $100,000.00
Nature of Incident: Claimant alleges.injuries sustained as result of
a fall on a bus.
Minutes of City Council S-3 Page 493
J
Tuesday, October 8, 1991
Rodney Terrello
9• Claimant:
Rodney Terrell
and Council Communication No. OCS-343 from the Office of the
Date Received:
October 2, 1991
recommending that
Date of Incident:
August 21, 1991
Texas, placing
Attorney:
Barry G.' Johnson
Location of Incident:
800 Hemphill Street at 700 W. Terrell
It was the consensus of the City Council that the
Estimate of Damages/
correspondence
be referred to the Risk Management Office.
Injuries:
Undeclared
of the City Council that the recommendation be adopted.
Nature of Incident:
Claimant alleges damages to vehicle as result of
settlement of law-
stating that on or about September 19, 1987, the Plaintiff, Jimmy Elmore was in attendance
accident involving City -owned vehicle.
011ie Terrell
10. Claimant:
011ie Terrell
Date Received:
October 2, 1991
Mr. Richard Harold Lawyer, a City employee assisting in the auction; that suit initially was
Date of Incident:
August 21, 1991
Attorney:
Barry G. Johnson
was transferred into the District Court case; that a court-ordered settlement conference was
Location of Incident:
800 Hemphill Street at 700 W. Terrell
Estimate of Damages/
portion of the settlement was made subject to City Council approval; that, under the terms
Injuries:
$250,000.00
Nature of Incident:
Claimant alleges injuries as result of accident
available in Property/Casualty Insurance Fund FE71, Center No. 0157120, Account No. 534050;
involving City -owned vehicle.
Sharon Nguyen
11. Claimant:
Sharon Nguyen Okada
Okada
Date Received:
October 2, 1991
Date of Incident:
July 23, 1991
recommendations be adopted.
Location of Incident:
Steps leading to la Mesa Apt. overlooking the
Sandage Ave.
Estimate of Damages/
Injuries:
Undeclared
Nature of Incident:
Claimant alleges injuries sustained as result of
being bitten by a dog.
M&C OCS-342
corrected adopted
It was the consensus of the City
Council that the recommendation be adopted.
M&C OCS-343
There was
presented Mayor
and Council Communication No. OCS-343 from the Office of the
Correspondence
City Secretary
recommending that
correspondence from Mr. Ron R. Taylor, 907 Kerry, Benbrook,
from Mr. Ron R.
Taylor
Texas, placing
the City of Fort
Worth on notice of a proposed lawsuit, be referred to the
Office of the
City Manager.
It was the consensus of the City Council that the
correspondence
be referred to the Risk Management Office.
M&C G-9282 re
It was the consensus of the City Council that Mayor and Council Communication
withdrawn from
No. G-9282, Airport Layout Plan Report and Grant Pre-Appl i cations - Fort Worth Alliance
the agenda
Airport, be withdrawn from the agenda.
M&C G-9326 re
There was presented Mayor and Council Communication No. G-9326 from the City Manager
disposal of
stating that records belonging to the Finance Department have been targeted for disposition;
public records
that Administration Regulation 1-30 were followed; that the requests to dispose of records
were reviewed and approved by the Finance, Law, Internal Audit, Risk Management Departments,
and the Office of Management Services prior to submission to the Texas State Library; and
recommending that the City Council approve the disposal of public records entitled Accounts
Payable Files, dates of 1986-1987, with a volume of 120 cubic feet. It was the consensus
of the City Council that the recommendation be adopted.
M&C, G-9327 re
There was presented Mayor and Council Communication No. G-9327 from the City Manager
settlement of law-
stating that on or about September 19, 1987, the Plaintiff, Jimmy Elmore was in attendance
suits sy tled
at one of the City's regular surplus -property auctions; that the City had contracted with
Jimmy Elmore
Lone Star Auctioneers, Inc., to assist in the conduct of the auction; that Mr. Elmore claims
that he suffered personal injuries as a result of being struck by a City -vehicle driven by
Mr. Richard Harold Lawyer, a City employee assisting in the auction; that suit initially was
filed in the County Court at Law, Cause No. 89-34087-2, but, subsequently, a second lawsuit
was filed in the District Court, Cause No. 342-131208-90 and the County Court at Law case
was transferred into the District Court case; that a court-ordered settlement conference was
held on September 23, 1991, concerning the case; that, as a result of that settlement
conference, a proposed compromise settlement was agreed to by the parties; that the City's
portion of the settlement was made subject to City Council approval; that, under the terms
of the proposed settlement, the Plaintiff will be paid the sum of $20,000.00 in settlement
of all claims against all parties in both of the above-mentioned lawsuits; that funds are
available in Property/Casualty Insurance Fund FE71, Center No. 0157120, Account No. 534050;
and recommending that the City Council approve the described settlement of the referenced
lawsuits; authorize the expenditure of $7,500.00 together with the City's costs of court and
37.5 percent of the Plaintiff's taxable court costs as the City's portion of this compromise
and authorize the appropriate City personnel to execute the documents necessary
,settlement;
to complete the settlement. It was the consensus of the City Council that the
recommendations be adopted.
M & C G-9328 re There was presented Mayor and Council Communication No. G-9328 from the City Manager
Approved Tax Roll stating that Section 26.09 of the State Property Tax Code requires submission of the tax
roll to the governing body for approval; that the tax' rolI is the Appraisal Roll of all
properties within the City as provided by Tarrant Appraisal District, with the 1991 tax rate
applied as set by the City Council; that the total appraised value on the roll is
$17,388,206,613.00, with a net of all exemptions and deferrals at $14,551,167,436.00; and
Minutes of City Council S-3 Page 494
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M & C G-9328 cont. recommending that the City Council approve the Tax Roll for 1991. It was the consensus of
and adopted
the City Council that the recommendation be adopted.
M & C G-9329 re There was presented Mayor and Council Communication No. G-9329 from the City Manager
fort Worth Tax
Abatement Re- recommending that the City Council set Tuesday, October 15, 1991, at 10:00 a.m. as the date
investment zone and time for a public hearing before City Council concerning the advisability of
No. Nine establishing Fort Worth Tax Abatement Reinvestment Zone No. Nine for commercial/industrial
tax abatement, and the boundaries of such zone; and direct the City Secretary to give notice
of the public hearing in accordance with state law. It was the consensus of the City
Council that the recommendations be adopted.
M & C G-9330 re There was presented Mayor and Council Communication No. G-9330 from the City Manager
Fort Worth Improve stating that in Cause No. 96-122301-89, in the 96th District Court, Commerce Hotel
ment District No.
1 Associates appealed the 1989 assessed valuations set by the Tarrant Appraisal District for
Lots 9-16, Block 96, Fort Worth Original Town (Account Number 04659309); that an agreed
judgment was entered in the suit on June 24, 1991, which reduced the assessed valuation for
the property; stating that the Director of Fiscal Services certifies that the money required
for these refunds is available in the Special Assessments District Fund; and recommending
that the City Council adopt an ordinance which amends the FY 1989-90 assessment roll for
Fort Worth Improvement District No. 1 by changing the assessment levied against property of
Commerce Hotel Associates and authorize a refund of $1,164.35 in overpaid assessments to
Commerce Hotel Associates for FY 1989-90. It was the consensus of the City Council that the
recommendations be adopted.
Introduced an Council Member Chappell introduced an ordinance and made a motion that it be adopted.
Ordinance The motion was seconded by Council Member Meadows. The motion, carrying with it the
adoption of said ordinance, prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, Meadows, and Chappell
NOES: None
ABSENT: None
The ordinance, as adopted, is as follows:
Ordinance No. ORDINANCE NO. 10930
10930
AN ORDINANCE AMENDING THE 1989-90 ASSESSMENT ROLL AND ASSESSMENT
ORDINANCE FOR FORT WORTH IMPROVEMENT DISTRICT NO. 1; REDUCING THE
ASSESSMENT AGAINST A CERTAIN PARCEL OF PROPERTY OWNED BY COMMERCE
HOTEL ASSOCIATES; AUTHORIZING A REFUND OF OVERPAID ASSESSMENTS;
DIRECTING THE CITY SECRETARY TO ENGROSS AND ENROLL THIS ORDINANCE;
AND PROVIDING AN EFFECTIVE DATE.
M & C G-9331 re
There was presented Mayor and Council Communication No. G-9331 from the City Manager
improvements to
stating that the 1986 Capital Improvement Program included funds for the improvement of
Lowden Street
Lowden Street from Hemphill Street to St. Louis Avenue; that the street is in the Worth
from Hemphill St.
Heights Target Area and never has been constructed to City standards; that Community
to St. Louis
Development Block Grant funds will provide a portion of the construction cost; that the
Avenue
project is in Council District 9; that the total estimated project cost is $145,100.00; and
recommending that the City Council declare the necessity for and order the improvements to
Lowden Street from Hemphill Street to St. Louis Avenue; authorize the assessment of a
portion of the cost of the improvements to Lowden Street against the owners of the abutting
property; approve the estimate of costs and amounts to be assessed as stated in the
engineer's estimate; establish November 12, 1991,. as the date of benefit hearing; and
authorize preparation of assessment rolls and notification of property owners in accordance
with the provisions of Article 1105b of Vernon's Annotated Civil Statutes. On motion of
Council Member Chappell, seconded by Council Member McCray, the recommendations were
adopted.
M&C G-9334 re
Airport Layout
There was presented Mayor and Council Communication No. G-9334 from the City Manager,
Plan
as follows:
SUBJECT: AIRPORT LAYOUT PLAN (ALP) REPORT AND GRANT PRE -APPLICATION -FORT
WORTH ALLIANCE AIRPORT
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to submit:
1. The Alliance Airport Layout Plan (ALP) Report, and
2. The Alliance Airport Preliminary Application for federal assistance to the
Federal Aviation Administration
fi1LITIUM111i11kC
On July 15, 1991 and August 8, 1991, Pinnacle Air Services, Inc. formally
Minutes of City Council S-3 Page 495
Tuesday, October 8, 1991
G-9334 cont. transmitted documents pertaining to the Runway Extension and Development Program
for the Alliance Airport, to the City Manager's Office. Revised airport layout
plan and preliminary application for Federal Assistance were submitted to the
City on October 1, 1991.
These documents include:
1. Airport Layout Plan (ALP) report containing the rationale and description
of the proposed improvements.
2. Airport Layout Plan (ALP) drawings depicting the proposed improvements.
3. Pre -application for Federal Assistance for the proposed improvements.
Alliance Airport creates the opportunity for the Alliance corridor to become an
international trade center. 'A comprehensive development program has been
established that will provide for upgrading Alliance Airport from a domestic
airport to an international airport.
A summary of airfield improvements and associated costs are attached. The cost
allocations are as follows:
Pre -application (No. 1)
Phase I
Phase II
Federal $78,118,008 $30,005,516
City $ 8,679,779 $ 3,333,946
Sub -Total $86,797,787 $33,339,462
Total $120,137,249
The Aviation Advisory Board at its August 15, 1991 meeting recommended City
Council acceptance of the Alliance Airport Layout Plan Report and submittal of
the Alliance Airport Preliminary Applications to the Federal Aviation
Administration.
SUBJECT: ORDINANCE APPROVING AND AUTHORIZING GIVING NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATIONS
RECOMMENDATION:
It is recommended that the City Council adopt the attached ordinance approving
and authorizing the giving of notice of intention to issue $13.5 million City
of Fort Worth Combination Tax and Revenue Certificates of Obligation, Series
1991.
DISCUSSION:
On September 20, 1988,.the City Council authorized the Communication Division
to submit to Region 40 for the last forty (40) 800 MHz channels available in the
region in order to replace the current outdated two-way radio communication
system.
On February 19, 1991, Informal Report No. 7512 was presented to the City Council
providing background information on the new system, the problems experienced
with the current system, how the new system would function, what parts of the
current system could be used in the new system and other general information.
On October 1, 1991, Informal Report No. 7554 was presented to the City Council
for final approval of the concept. At this same session, staff reviewed with
the Council various alternatives to financing $11.2 million for the
communication equipment and $1.3 million for facilities to house the equipment.
The staff and the City's financial advisor recommended that certificates of
obligation be issued by the City to provide funds for both requirements.
The publication of a "notice of intention to issue" is the next step in this
process. On November 12, 1991 competitive bids will be taken and the Council
will be requested to award the sale of the certificates of obligation on the
basis of the most attractive interest rate.
Minutes of City Council S-3 Page 496
At the time this project is authorized for federal funding
by the
Federal
Aviation
Administration, any necessary fiscal requirements will
be submitted
to
the City
Council for consideration.
&C G-9334 adopted
On motion of
Council Member Chappell, seconded by Council
Member
Meadows, the
recommendations, as contained in Mayor and Council Communication No.
G-9334,
were adopted.
&C G-9335 re
e rtifica to of
There was
presented Mayor and Council Communication No. G-9335
from the
City Manager,
bl i gati ons
as follows:
SUBJECT: ORDINANCE APPROVING AND AUTHORIZING GIVING NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATIONS
RECOMMENDATION:
It is recommended that the City Council adopt the attached ordinance approving
and authorizing the giving of notice of intention to issue $13.5 million City
of Fort Worth Combination Tax and Revenue Certificates of Obligation, Series
1991.
DISCUSSION:
On September 20, 1988,.the City Council authorized the Communication Division
to submit to Region 40 for the last forty (40) 800 MHz channels available in the
region in order to replace the current outdated two-way radio communication
system.
On February 19, 1991, Informal Report No. 7512 was presented to the City Council
providing background information on the new system, the problems experienced
with the current system, how the new system would function, what parts of the
current system could be used in the new system and other general information.
On October 1, 1991, Informal Report No. 7554 was presented to the City Council
for final approval of the concept. At this same session, staff reviewed with
the Council various alternatives to financing $11.2 million for the
communication equipment and $1.3 million for facilities to house the equipment.
The staff and the City's financial advisor recommended that certificates of
obligation be issued by the City to provide funds for both requirements.
The publication of a "notice of intention to issue" is the next step in this
process. On November 12, 1991 competitive bids will be taken and the Council
will be requested to award the sale of the certificates of obligation on the
basis of the most attractive interest rate.
Minutes of City Council S-3 Page 496
Tuesday, October 8, 1991
4&C G-9335 cont. On motion of Council Member Meadows, seconded by Mayor Pro tempore Webber, the
and adopted recommendation, as contained in Mayor and Council Communication No. G-9335, was adopted.
Introduced an
Ordinance Council Member Meadows introduced an ordinance and made a motion that it be adopted.
The motion was seconded by Mayor Pro tempore Webber. The motion, carrying with it the
adoption of said ordinance, prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, Meadows, and Chappell
NOES: None
ABSENT: None
The ordinance, as adopted, is as follows:
Ordinance No. ORDINANCE NO. 10929
10929
DIRECTING PUBLICATION OF NOTICE OF INTENT TO ISSUE TAX AND REVENUE
CERTIFICATES OF OBLIGATION; AND ORDAINING OTHER 'MATTERS RELATING TO THE
SUBJECT
WHEREAS, it is hereby officially found and determined that a case of
emergency or urgent public necessity exists which requires the holding of the
meeting at which this Ordinance is passed, such emergency or urgent public
necessity being that the publication of Notice of Intention to Issue
Certificates of Obligation to provide funds for the improvements described in
the Notice referred to below is required as soon as possible and without delay;
and that said meeting was open to the public, and public notice of the time,
place and purpose of said meeting was given, all as required by Vernon's Ann.
Civ. St. Art. 6252-17, as amended.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS:
Section 1. That attached hereto and marked "Exhibit A" is a form of
notice, the form and substance of which are hereby passed and approved.
Section 2. That the City Secretary shall cause said notice to be
published, in substantially the form attached hereto, in the "Fort Worth Star -
Telegram", a newspaper of general circulation in the City of Fort Worth, Texas,
for two consecutive weeks, the date of the first publication to be before the
fourteenth (14th) day before the date tentatively proposed for authorizing the
issuance of the Certificates of Obligation as shown in said notice.
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the
City of Fort Worth, Texas, to issue the interest bearing certificates of
obligation of the City entitled "City of Fort Worth, Texas Combination Tax and
Revenue Certificates of Obligation, Series 1991", for the purpose of providing
funds for the construction of a City central dispatch facility, the acquisition
of equipment, including, but not limited to, a city-wide two-way radio
communications system, related to the operation of said dispatch facility, and
the payment of the engineering, legal, and fiscal costs related thereto. The
City Council tentatively proposes to authorize the issuance of said Certificates
of Obligation at its regular meeting to commence at 10:00 A.M. on November 12,
1991. The maximum amount of Certificates of Obligation indebtedness that may
be authorized for such purpose is $13,500,000. The City Council presently
proposes to provide for payment of such Certificates of Obligation by the levy
of ad valorem taxes and from revenues.
Reconsidered
Council Member Chappell made a motion, seconded by Council Member McCray, that Mayor
M&C No. P-5204
and Council Communication No. P-5204 be reconsidered at this time. When the motion was put
to vote by the Mayor, it prevailed unanimously.
M&C P-5204 re
agreement with
There was presented Mayor and Council Communication No. P-5204, dated September 10,
All Cities Service
1991, from the City Manager, submitting a tabulation of bids received for a purchase
agreement for the lease of ice machines for various departments; stating that the Director
of Fiscal Services certifies that funds required for the anticipated expenditures of each
department eligible to participate in this agreement are available in the current operating
budget, as appropriated, of the appropriate Funds and the funds required for the 1991-92
fiscal year will be included in the proposed budget; and recommending that the City Council
authorize a purchase agreement with All Cities Service for the lease of ice machines for
various departments on its low bid meeting specifications of the unit prices; and authorize
a purchase agreement with American Ice Machines, Inc., for repair service to City -owned ice
machines at $30.00 per hour for labor and parts at list price less 30 percent discount, with
terms of agreements to begin October 1, 1991, and end September 30, 1992, with options to
Minutes of City Council S-3 Page 497
Tuesday, October 8, 1991
M&C P-5204 cont. renew for two additional one-year periods. Council Member Silcox made a motion, seconded
by Council Member Meadows, that Mayor and Council Communication No. P-5204 be rescinded.
When the motion was put to a vote by the Mayor, it prevailed by the following vote:
AYES: Mayor Granger; Council Members Puente, Silcox, Matson, McCray,
Woods, Meadows, and Chappell
NOES: Mayor Pro tempore Webber
ABSENT: None
M&C P-5243 re There was presented Mayor and Council Communication No. P-5243, dated October 1, 1991,
purchase of from the City Manager stating that the removal of asbestos laden tile and mastic from the
asbestos removal floors at Will Rogers Memorial Auditorium was approved on August 13, 1991; that, during the
services process, an additional 800 square feet of asbestos tile was discovered and the Environmental
Management Office observed that the additional tile must be removed before the auditorium
remodeling could continue; that funds are available in the General Fund; and recommending
that an amendment of Mayor and Council Communication No. P-5130 for the purchase of asbestos
removal services from Total Abatement Systems Corporation for the Environmental Management
Office be authorized to include an additional $2,700.00 for a new total of $23,950.00. On
motion of Council Member Woods, seconded by Council Member Chappell, the recommendation was
adopted.
M & C P-5253 re
There was presented Mayor and Council Communication No. P-5253 dated October 1, 1991,
purchase from
from the City Manager stating that an annual purchase agreement with two one-year options
Baker & Taylor
to renew was authorized on August 20, 1991, with Baker & Taylor Company for books for the
Library Department; that funds are available in the General Fund; and recommending that the
second option to renew an annual purchase agreement for general trade books, technical
books, and children's books for the Fort Worth Public Library be authorized with Baker &
Taylor at discounts of 44.9 percent for general trade books, 15 percent for technical books,
and 24.2 percent children's books for the period of October 1, 1991, through September 30,
1992. Council Member Puente made a motion, seconded by Council Member Meadows, that the
recommendation be adopted.
City Manager Ivory
amendment to
City Manager Ivory advised City Council of an amendment to be made to Mayor and Council
M&C P-5253
Communication No. P-5253 by adding to the last sentence of the recommendation "for an amount
not to exceed $400,000.00."
Council Member Matson made a substitute motion, seconded by Council Member Puente, that
Mayor and Council Communication No. P-5253, as amended, be approved. When the motion was
put to a vote by the Mayor, it prevailed unanimously.
M&C P-5254 re
There was presented Mayor and Council Communication No. P-5254, dated October 1, 1991,
purchase agreement
from Brodart Com-
from the City Manager stating that an annual purchase agreement with two one-year options
pany
to renew was authorized on October 10, 1989, with Brodart Company for paperback books for
the Library Department; stating that funds are available in the General Fund; and
recommending that the second option to renew an annual purchase agreement for paperback
books for the Fort Worth Library be authorized with Brodart Company at a discount of 44.8
percent for the period of October 1, 1991, through September 30, 1992.
City Manager Ivory
City Manager Ivory advised City Council of an amendment to be made to Mayor and Council
amendment M&C
Communication No. P-5254 by amending the last sentence to read "for an amount not to exceed
1$30,000.00.11
P-5254
Council Member Matson made a motion, seconded by Council Member Woods, that Mayor and
Council Communication No. P-5254, as amended, be approved. When the motion was put to a
vote by the Mayor, it prevailed unanimously.
M&C P-5255 re There was presented Mayor and Council Communication No. P-5255, dated October 1, 1991,
purchase agreement from the City Manager stating that an annual purchase agreement with two one-year options
from rodart Com- to renew was authorized on October 10, 1989, with Brodart Company for continuation services
p any for the Library Department; stating that funds are available in the General Fund; and
recommending that the second option to renew an annual purchase agreement for continuation
services for the Fort Worth Public Library be authorized with Brodart Company at a discount
of 10.0 percent for the period of October 1, 1991, through September 30, 1992.
City Manager Ivory City Manager Ivory advised City Council of an amendment to be made to Mayor and Council
amendment M&C Communication No. P-5255 by amending the last sentence to read "for an amount not to exceed
P-5255 $75,000.00."
Council Member Matson made a motion, seconded by Council Member Silcox, that Mayor and
Council Communication No. P-5255, as amended, be approved. When the motion was put to a
vote by the Mayor, it prevailed unanimously.
M&C P-5257 re
purchase agreement There was presented Mayor and Council Communication No. P-5257 from the City Manager
with Vibra Clean stating that the City Council authorized a one-year purchase agreement with a one-year
DFW, Incorporated renewal option on October 16, 1990, by Mayor and Council Communication No. P-4504, with
Vibra Clean DFW, Incorporated, to provide recleaned paper air filters for the City Services
Department; that service rendered has been satisfactory and the department has requested
that the renewal option be exercised; that funds required for this agreement will be
Minutes of City Council S-3 Page 498
Tuesday, October 8, 1991
M&C P-5257 cont. available in the proposed 91-92 operating budget, as appropriated, of the Equipment Services
Fund; and recommending that the City Council exercise the option to renew the purchase
agreement with Vibra Clean DFW, Incorporated, to provide recleaned paper air filters for the
City Services Department on low bid meeting specifications, with term of agreement to begin
October 15, 1991, and end October 14, 1992.
City Manager Ivory advised City Council of an amendment to be made to Mayor and Council
City Manager Ivory
re amendment7to Communication No. P-5257, stating that Recommendation No. 2 should end with "for an amount
M&C P-5257 not to exceed $20,000.00."
Council Member Matson made a motion, seconded by Council Member Woods, that Mayor and
Council Communication No. P-5257, as amended, be approved. When the motion was put to a
vote by the Mayor, it prevailed unanimously.
M&C, P-5258 re There was presented Mayor and Council Communication No. P-5258 from the City Manager
purchase agreement submitting a tabulation of bids received for a purchase agreement for the purchase of
with Clemons Trac- genuine Bush Hog manufacturer's replacement parts for the City'Services Department; that
tor Company funds required for this agreement are available in the City Services Operating Fund; and
recommending that the City Council authorize a purchase agreement with Clemons Tractor
Company on its low bid of manufacturer's suggested list price less five percent discount,
with term of agreement to begin November 16, 1991, and end November 15, 1992, with two
additional one year options to renew.
City Manager Ivory City Manager Ivory advised City Council of an amendment to be made to Mayor and Council
re amendment to Communication No. P-5258, stating that Recommendation No. 2 should end with "for an amount
M&C P-5258 not to exceed $25,000.00."
Council Member Puente made a motion, seconded by Council Member Woods, that Mayor and
Council Communication No. P-5258, as amended, be approved., When the motion was put to a
vote by the Mayor, it prevailed unanimously.
M&C P-5259 re There was presented Mayor and Council Communication No. P-5259 from the City Manager
purchase from submitting a tabulation of bids received for the purchase of materials and services to
Gene Hill Equip- upgrade the refueling depot for the City Services Department; that funds required for this
men t company purchase are available in the current operating budget, as appropriated, of the Equipment
Services Operating Fund; and recommending that the purchase be made from Gene Hill Equipment
Company for an amount not to exceed $7,500.00. It was the consensus of the City Council
that the recommendation be adopted.
M&C, P-5260 re There was presented Mayor and Council Communication No. P-5260 from the City Manager
printing of NTLS submitting a tabulation of bids received for the printing of NTLS Media Catalog for 1991-92
Media Catalog for for North Texas Library System; that money required for this anticipated expenditure is
1991-92 available in the current operating budget, as appropriated, of the Grants Fund; and
recommending that the City Council authorize the printing' of the NTLS Media Guide from
Graphic 2 on its low bid of $7,512.00. It was the consensus of the City Council that the
recommendation be adopted.
M&C P-5261 re
purchase from M. There was presented Mayor and Council Communication No. P-5261 from the City Manager
V a n W ave re n & submitting a tabulation of bids received for the purchase of 26,100 flower bulbs for the
Sons, Inc. Park and Recreation Department; that funds required for this purchase are available in the
1991-92 operating budget, as appropriated, of the General Fund and in the 1991-92 operating
budget, as appropriated, of the Special Trust Fund; and recommending that the purchase be
made from M. Van Waveren & Sons, Inc., on its total overall bid, meeting City
specifications, of $4,505.98 net, f.o.b. Fort Worth. It was the consensus of the City
Council that the recommendation be adopted.
M&C P-5262 re
purchase with
There was presented Mayor and Council Communication No. P-5262 from the City Manager
Bell Helicopter-
stating that the City Council authorized a one-year purchase agreement and renewal option
Textron
on September 18, 1990, by Mayor and Council Communication No. P-4469 with Bell Helicopter -
Textron for helicopter- parts; that the Police Department will use these helicopter
replacement parts to service and maintain the City -owned Bell Helicopter to conform with FAA
guidelines and to meet unexpected mechanical repairs; that, during the last agreement
period, October 18, 1990, to October 17, 1991, the City expended a total of $39,000.00 for
Bell Helicopter parts; that Bell Helicopter -Textron has agreed to hold the quoted discount
for another year and the Police Department has requested the agreement to be renewed;
stating that funds required for this anticipated expenditure during the 1991-92 fiscal year
are included in the operating budget, as appropriated, of the General Fund, and the funds
required for the 1992-93 fiscal year will be included in that proposed budget; and
recommending that the City Council exercise its option to renew a purchase agreement to
supply replacement parts for the Police Department with Bell Helicopter -Textron, sole
source, for one year at published list price less ten percent with $300.00 minimum order,
with term of agreement to begin October 18, 1991, and end October 17, 1992. It was the
consensus of the City Council that the recommendations be adopted.
M&C, P-5263 re There was presented Mayor and Council Communication No. P-5263 from the City Manager
purchase with submitting a tabulation of bids received for a purchase agreement to supply bulk Portland
Texas Industries,
Inc. Type I cement for the Transportation and Public Works Department; that funds required for
this agreement are available in the current operating budget, as appropriated, of the
General Fund; and recommending that the purchase agreement be authorized with Texas
Industries, Inc., on its low bid of unit prices at $53.20 per ton, with term of agreement
Minutes of City Council S-3 Page 499
5w'
Tuesday, October 8, 1991
263cont. to begin November 13, 1991, and end November 12, 1992. It was the consensus of the City
and adopted
Council that the recommendations be adopted.
M&C P-5264 re There was presented Mayor and Council Communication No. P-5264 from the City Manager
purchase from stating that the Water Department will use Moyno progressive cavity pumps in the dissolved
Robbins and Meyers air flotation tanks in order to keep up with the settling sludge; that funds required for
Inc., c/o J.R. this expenditure are available in the 1991-92 adopted budget of the Water and Wastewater
Sheldon Co., Inc. P 9
Fund; and recommending that a sole source purchase of four genuine Moyno progressive cavity
pumps and service be authorized with Robbins and Meyers, Inc., c/o J. R. Sheldon Co., Inc.,
for the Water Department on quotation of $22,000.00 net, f.o.b., Springfield, Ohio. It was
the consensus of the City Council that the recommendation be adopted.
M&C L-10629 re There was presented Mayor and Council Communication No. L-10629 from the City Manager
acquisition of recommending that the City Council authorize the acquisition of a portion of A. McLemore
portion of A. Mc- Survey, Abstract No. 1065 and being a portion of the Southwest corner of Lot 4, Nies and
Lemore Survey, Rouse Addition for reconstruction of East First Street from B.E. Gifford and Leon Hatfield;
Abstract No. 1065 find that771.00 is
$ just compensation; and authorize acceptance and recording of the
appropriate deed. It was the consensus of the City Council that the recommendations be
adopted.
M&C L-10630 re There was presented Mayor and Council Communication No. L-10630 from the City Manager
acquisition of recommending that the City Council authorize the acquisition of a portion of Lots 2 and 3
portion of Lots Block 7, q p '
2 and 3, Block 7 Glen Park Subdivision of Martin Subdivision required for reconstruction of Martin
Street from Mohammad Hamad; find that $411.00 is just compensation; and authorize the
acceptance and recording of the appropriate deed. It was the consensus of the City Council
that the recommendations be adopted.
M&C L-10631 re
There was presented Mayor and Council Communication No. L-10631 from the
City Manager
acquisition of
portion of Lot 7,
recommending that the City Council.authorize the acquisition of a portion of
Lot 7, Block
Block 18
18, Glen Park Addition; find that $225.00 is just compensation for property
acquired for
Block 1
reconstruction of Martin Avenue from Atha Lou Hossack and Kathleen McCarty; and authorize
1, Trudale Addition; find that $200.00 is just compensation for the property acquired from
the acceptance and recording of the appropriate deed. It was the consensus
of the City
Eva Frances Simer for reconstruction of Martin Avenue; and authorize the acceptance and
Council that the recommendations be adopted.
Laney for reconstruction of Martin
M&C, L-10632 re
acquisition of
There was presented Mayor and Council Communication No. L-10632 from the
City Manager
portion of Lot 4,
recommending that the City Council authorize the acquisition of a portion of
Lot 4, Block
B1 ock 1
1, Trudale Addition; find that $500.00 is
� just compensation for property acquired
from
There was presented Mayor and Council Communication No. L-10634 from the City Manager
Minnie L. and husband, Joe Johnson for reconstruction of Martin Avenue; and authorize the
acceptance and recording of the appropriate deed. It was the consensus of the
City Council
that the recommendations be adopted.
M&C, L-10633
re
acquisition
of
There was resented Mayor and Council Communication No. L-10633 from the City Manager
p y
portion of
Lot 5,
recommending that the City Council authorize the acquisition of a portion of Lot 5, Block
Block 1
Subdivision
1, Trudale Addition; find that $200.00 is just compensation for the property acquired from
$2,200.00 is just compensation for
the property acquired from
Eva Frances Simer for reconstruction of Martin Avenue; and authorize the acceptance and
Robert Laney and Susan
Laney for reconstruction of Martin
recording of the appropriate deed. It was the consensus of the City Council that the
acceptance and recording
recommendations be adopted.
M&C L-10634
re
be adopted.
acquisition
portion of
of
Lot 6,
There was presented Mayor and Council Communication No. L-10634 from the City Manager
Block 1
recommending that the City Council authorize the acquisition of a portion of Lot 6, Block
1, Trudale Addition; find that $200.00 is just compensation for the property acquired from
Drusilla G. Walker for reconstruction -of Martin Avenue; and authorize the acceptance and
recording of the appropriate deed. It was the consensus of the City Council that the
recommendations be adopted.
M&C L-10635 re There was presented Mayor and Council Communication No. L-10635 from the Cit Manager acquisition of y g
portion of Lot 32, recommending that the City Council authorize the acquisition of a portion of Lot 32, Sondra-
Sondra -Lin Sub- Lin Subdivision; find that $1,187.00 is just compensation for the property acquired from
division Donald R. and Frances 0. Loyd for reconstruction of Martin Avenue; and authorize the
acceptance and recording of the appropriate deed. It was the consensus of the City Council
that the recommendations be adopted.
M&C L-10636 re
acquisition of
There was presented
Mayor and Council Communication No. L-10636 from the City Manager
Lot 1, Sondra -Lin
recommending that the City Council authorize the acquisition of
a portion of Lot 1, Sondra -
Subdivision
Lin Subdivision; find that
$2,200.00 is just compensation for
the property acquired from
Robert Laney and Susan
Laney for reconstruction of Martin
Avenue; and authorize the
acceptance and recording
of the appropriate deed. It was the consensus of the City Council
that the recommendations
be adopted.
M&C, L-10637 re There was presented Mayor and Council Communication No. L-10637 from the City Manager
acquisition of recommending that the City Council authorize the acquisition of a portion of Lot 8, Block
portion of Lot 8,
Block 1 1, Stallcup First Filing Addition; find that $150.00 is just compensation for the property
acquired from Sammy Acy for reconstruction of Vera Street; and authorize the acceptance and
recording of the appropriate deed. It was the consensus of the City Council that the
recommendations be adopted.
M&C L-10638 re There was presented Mayor and Council Communication No. L-10638 from the City Manager
acquisition of recommending that the City Council authorize the acquisition of a portion of Lot 6, Block
portion of Lot 6, 5, Stallcup First Addition; find that $150.00 is just compensation for the property acquired
Block 5 from 011ie Mae Kelley Estate for reconstruction of Vera Street; and authorize the acceptance
Minutes of City Council S-3 Page 500
001
Tuesday, October 8, 1991
M&C L-10638 cont. and recording of the appropriate deed. It was the consensus of the City Council that the
and adopted recommendations be adopted.
M & C L-10639 re
acquisition of There was presented Mayor and Council Communication No. L-10639 from the City Manager
portion of Lot 11, recommending that the City Council authorize the acquisition of a portion of Lot 11, Block
Block 15, Glen 15, Glen Park Addition; find that $620.00 is just compensation for the property acquired
Park Addition from Charles R. and Cynthia K. Cryer for reconstruction of Martin Avenue; and authorize the
acceptance and recording of the appropriate deed. iIt was the consensus of the City Council
that the recommendations be adopted.
M & C L-10640 re
There was presented Mayor and Council Communication No. L-10640 from the City Manager
acquisition of
recommending that the City Council authorize the acquisition of a aerial easement over a
property described
portion of Lot 4, Block 15, Highland Hills Addition; find that $1.00 is just compensation
as Lot 4, Block 15
Highland Hills
for the property acquired from John Smith and Christina Smith for streetlight easement; and
Addition
authorize the acceptance and 'recording of the appropriate deed. It was the consensus of the
Centreport Addi-
tion
City Council that the recommendations be adopted.
M&C L-10641 re
There was presented Mayor and Council Communication No. L-10641 from the City Manager
acquisition of
recommending that the City Council authorize the acquisition of an aerial easement over a
portion of Lot 14,
portion of Lot 14, Block 8, Viewpark Addition; find that $1.00 is just compensation for the
Block 8, Viewpark
property acquired from J. Piner Powell for streetlight easement; and authorize the
Addition
acceptance and recording of the appropriate deed. It was the consensus of the City Council
that the recommendations be adopted.
M&C. L-10642 re There was presented Mayor and Council Communication No.' L-10642 from the City Manager
acquisition of recommending that the City Council authorize the. acquisition of a streetlight easement in
streetlight ease- Lot 1, Block 1, Ridglea Crest Addition; located at 6400 Ridglea Crest Drive; owned by Larry
m e n t D. Eason and Lequita Eason; for a total consideration of $1.00; and authorize the acceptance
and recording of the appropriate deed. It was the consensus of the City Council that the
recommendations be adopted.
M&C L-10643 re There was presented Mayor and Council Communication No. L-10643 from the City Manager
acquisition of recommending that the City Council authorize the acquisition of a streetlight easement
streetlight ease-
ment located at the southwest five feet of Lot 10, Block 15, Highland Hills Addition; owned by
Willie D. Barrett and Helen Barrett, for a total consideration of $1.00; and authorize the
acceptance and recording of the appropriate deed. It was the consensus of the City Council
that the recommendations be adopted.
M&C L-10644 re There was presented Mayor and Council Communication No. L-10644 from the City Manager
acquisition of recommending that the City Council authorize the acquisition of a portion of Lot 1, Block
portion of Lot 1, 1, Hobbs Trailer Addition from Fart Worth Industrial Development, Inc., for a total
Block 1, Hobbs consideration of $1.00, and authorize the acceptance and recording of the appropriate deed.
Trailer Addition It was the consensus of the City Council that the recommendations be adopted.
M&C L-10645 re
acquisition of There was presented Mayor and Council Communication No. L-10645 from the City Manager
temporary easement recommending that the City Council authorize the acquisition of a temporary construction
easement in Lot 37, Denman's Addition'; find that $1.00 is just compensation for property
acquired for reconstruction of Martin Street from Metropolitan Church of Christ; and
authorize the acceptance of the appropriate easement. It was the consensus of the City
Council that the recommendations be adopted.
M&C L-10646 re There was presented Mayor and Council Communication No. L-10646 from the City Manager
acquisition of recommending that the City Council authorized the acquisition of a temporary construction
temporary easement
easement in Lot 5A, Block 8, Cobb's Orchard Addition; find that $1.00 is just compensation
for property acquired for reconstruction of Martin Street from Barbara McAlister; and
authorize acceptance of the temporary construction easement It was the consensus of the
City Council that the recommendations be adopted.
M&C L-10647 re There was presented Mayor and Council Communication No. L-10647 from the City Manager
acquisition of recommending that the City Council authorized the acquisition of a temporary construction
temporary easement easement in Lot M, Block 7, Trentman Revision; find that $1.00 is just compensation for
property acquired for reconstruction of Martin Street from Life Fellowship International,
Inc.; and authorize acceptance of the appropriate easement. It was the consensus of the
City Council that the recommendations be adopted.
M&C. L-10648 re
There was presented Mayor and Council Communication No. L-10648 from the City Manager
execution of
stating that CentrePort Venture, Inc., has requested the take-down of property pursuant to
appropriate deed
its option to purchase land with the City of Fort Worth; that the property is described as
conveying B309,
.169 acres of land, a portion of which is located in Block 309, Area 3, Section 4,
Area 3, Section 4,
CentrePort, and a portion of which is located in the Cambridge Road right-of-way and
Centreport Addi-
tion
Buckingham Road right-of-way according to the plat of Area 3, Section 4, CentrePort; stating
that CentrePort Venture, Inc., will convey to the City an avigation easement and a release
in the standard form to the Cities of Dallas and Fort Worth and the Dallas -Fort Worth
Airport Board covering the same property; and recommending that the City Council authorize
the City Manager to execute the appropriate deed conveying Block 309, Area 3, Section 4,
Centreport Addition to CentrePort Venture, Inc., and authorize the Director of Real Property
Management to accept for filing and recordation an avigation easement and release from the
grantee covering the same property in favor of the Cities of Dallas and Fort Worth and the
Dallas -Fort Worth Airport Board. It was the consensus of the City Council that the
recommendations be adopted.
Minutes of City Council S-3 Page 501
5r!�:
Tuesday, October 8, 1991
M& C LLI L8 649r ee There was presented Mayor and Council Communication No. L-10649 from the City Manager
release of Tandy recommending that the City Council approve the release of a, permanent easement and
Corporation of construction easement for a portion of Tract 1C, David Cook Survey, Abstract No. 345, and
permanent and
temporary easement a portion of Tracts 2, 2A, 2A1, and 2A2, Richard Morris Survey, Abstract No. 1036 to Tandy
Corporation and authorize execution and recording of the appropriate legal instruments.
Council Member Council Member Meadows advised City Council that he is filing a conflict of interest
Meadows re M & C affidavit inasmuch as he is a shareowner of Tandy Corporation.
L-10649
Council Member Puente made a motion, seconded by Council Member Silcox, that the
recommendations, as contained in Mayor and Council- Communication No. L-10649 be approved.
When the motion was put to a vote by the Mayor, it prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, and Chappell
NOES: None
ABSENT: None
NOT VOTING: Council Member Meadows
M&C C-130 re There was presented Mayor and Council Communication No. C-13080, dated October 1, 1991,
contractract with y g g
the DeMoss Company from the Cit Manager submitting a tabulation of bids received for renovations to Will
Rogers Auditorium; stating that funds are available in the current capital budget of the
Will Rogers Memorial Complex Fund; and recommending that the City Manager be authorized to
execute a contract with the DeMoss Company for construction of the base bid only for the
Will Rogers Auditorium Renovations in the amount of $1,208,000.00.
ouncil Member Council Member Meadows requested permission of the City Council to abstain from voting
eadow s re M&C, on Mayor and Council Communication No. C-13080 because of a client relationship with the
-13080
DeMoss Company.
Council Member Chappell made a motion, seconded by Council Member Silcox, that Council
Member Meadows be permitted to abstain from voting on Mayor. and Council Communication
No. C-13080. When the motion was put to a vote by the Mayor, it prevailed unanimously.
Council Member Silcox made a motion, seconded by Council Member Chappell, that Mayor
and Council Communication No. C-13080 be approved. When the motion was put to a vote by the
Mayor, it prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, and Chappell
NOES: None
ABSENT: None
NOT VOTING: Council Member Meadows
&C C 13 081 re
There was presented Mayor and Council Communication No. C-13081 from the City Manager
ontract with
Center
stating that the City Council approved financial support in the amount of $43,085.00 for the
omen's of
arrant County,
1991-92 budget for the Women's Center of Tarrant County, Inc., to continue providing rape
nc.
,
crisis services; that it is proposed a contract be executed with Women's Center of Tarrant
County, Inc., for the period of October 1, 1991, through September 30, 1992, to provide
counseling and assistance to rape victims, recruiting and training of volunteer counselors,
and making public presentations concerning rape prevention; stating that funds required for
this expenditure are available in the FY 1991-92 approved budget, as appropriated, of the
General Fund; and recommending that the City Manager be authorized to execute a contract
with Women's Center of Tarrant County, Inc., for the period of October 1, 1991, to September
30, 1992, at a cost not to exceed $43,085.00 for the provision of rape crisis services. It
was the consensus of the City Council that the recommendation be adopted.
&C C-13082 re
ontract with
There was presented Mayor and Council Communication No. C-13082 from the City Manager
arrant County
stating that the City Council approved $5,000.00 for a contract with the Tarrant County
outh Collabors-
Youth Collaboration during ithe 1991-92 budget process; that services to be provided will be
ion, Inc, .
research, assessment, and prioritization of needs for providing community services to young
people in Fort Worth; that the Youth Collaboration then will use the information to serve
as a catalyst in developing new programs in collaboration with other community groups which
also provide funding for the Tarrant County Youth Collaboration; stating that funds required
for this expenditure are available in the FY 1991-92 approved budget, as appropriated, of
the General Fund; and recommending that the City Council authorize the City Manager to
execute a contract with Tarrant County Youth Collaboration in an amount not to exceed
$5,000.00. It was the consensus of the City Council that the recommendation be adopted.
&C C-13083 re There was presented Mayor and Council Communication No. C-13083 from the City Manager
ontract with stating that Women's Haven of Tarrant County, Inc., an autonomous, non-profit, non-sectarian
omen's Haven of organization, incorporated in Tarrant County in September 1976 provides emergency temporary
arranty County, shelter and supportive services for battered or abused women and children; that it is
nc. proposed a contract be executed with Women's Haven of Tarrant County, Inc., for the period
Minutes of City Council S-3 Page 502
503
Tuesday, October 8, 1991
MS' -C C-13083 cont.
of October 1, 1991, through September 30, 1992; that funds required for this expenditure are
engineering agree-
available in the FY 1991-92 approved budget, as appropriated, of the General Fund; and
m e n t with the
recommending that the City Manager be authorized to enter into a contract in an amount not
University of
to exceed $42,809.00 with Women's Haven of Tarrant County, Inc., for the period of October
Texas at Arlington
1, 1991, to September 30, 1992, for provision of services to citizens of Fort Worth. It was
the consensus of the City Council that the recommendation be adopted.
M&C C-13084 re
There was presented Mayor and Council Communication No. C-13084 from the City Manager
contract with
stating that the City's 1991-92 budget, as approved, includes financial support in the
Tarrant Council on
amount of $50,000.00 for the Tarrant Council on Alcoholism and Drug Abuse to provide
Alcoholism and
substance abuse case management services; that the proposed contract between the City of
Drug Abuse
Fort Worth and Tarrant Council on Alcoholism and Drug Abuse will begin October 1, 1991, and
end September 30, 1992, to provide case management services; that Fort Worth Challenge,
Inc., identified a need for a central intake and case management system for substance abuse
during a presentation to the City Council on April 5, 1988; that Fort Worth Challenge
endorsed a request by the Tarrant Council on Alcoholism and Drug Abuse for City support in
the amount of $50,000.00 to maintain and expand the services of its case management program;
that Tandy and Carter Foundations funded the program through the first year of operation;
that the City of Fort Worth has funded 25 percent of the program costs ($50,000.00) since
its second year; that funds required for this expenditure are available in the FY 1991-92
approved budget, as appropriated, of the General Fund; and recommending that the City
Manager be authorized to execute a contract with Tarrant Council on Alcoholism and Drug
Abuse, for the period of October 1, 1991, through September 30, 1992, at a cost not to
exceed $50,000.00, for the provision of substance abuse case management services. It was
the consensus of the City Council that the recommendation be adopted.
M & C C-13085 re
There was presented Mayor and Council Communication No. C-13085 from the City Manager
engineering agree-
stating that the City Council authorized an engineering agreement with the University of
m e n t with the
Texas at Arlington on August 23, 1988, by Mayor and Council Communication No. C-11150 for
University of
design, construction management, and operation of a water treatment pilot plant at Rolling
Texas at Arlington
Hills Water Treatment Plant; that the proposed amendment is a continuation of UTA's
professional services to encompass full daily operations and in-depth training of operators
and laboratory personnel in these operations; that the major objectives of this proposed
agreement are the design of pilot plant studies for current treatment optimization and
future needs, and education/training for personnel; that the funds required for this
agreement are available in the current operating budget of the Water and Sewer Fund for
transfer to the Water Capital Improvement Fund; and recommending that the City Council
authorize a fund transfer in the amount of $56,569.00 from Water and Sewer Operating Fund,
Water Capital Project, Water Department to Water Capital Improvement Fund, Pilot Plant at
Rolling Hills Water Treatment Plant; and authorize the City Manager to execute Amendment
No. 1 to the Engineering Agreement with UTA for design, construction management, and
operation of a water treatment pilot plant at Rolling Hills Water Treatment Plant,
increasing the fixed fee amount by $56,569.00 from $150,000.00 to $206,569.00 and extending
the contract time for 12 months. It was the consensus of the City Council that the
recommendations be adopted.
M&C C-13086 re There was presented Mayor and Council Communication No. C-13086 from the City Manager
lease agreement, recommending that the City Manager, be authorized to execute a.lease agreement with the
with Federal De- Federal Deposit Insurance Corporation for office space located at 440 South Main Street,
posit Insurance with the term of lease to be on a month-to-month basis, beginning September 1, 1991, and
Corporation that the City Council authorize the continuation of this arrangement as long as necessary,
but no longer than June 30, 1992, which is the end of the current JTPA Title II -A grant
funding cycle.
Council Member
Chappell re Council Member Chappell requested permission of the City Council to abstain from voting
M&C C-13086 on Mayor and Council Communication No. C-13086.
Council Member Silcox made a motion, seconded by Council Member Meadows, that Council
Member Chappell be permitted to abstain from voting on Mayor and Council Communication
No. C-13086. When the motion was put to a vote by the Mayor, it prevailed unanimously.
Council Member Puente made a motion, seconded by Council Member Silcox, that the
recommendation, as contained in Mayor and Council Communication No. C-13086, be adopted.
When the motion was put to a vote by the Mayor, it prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, and Meadows
NOES: None
ABSENT: None
NOT VOTING: Council Member Chappell
There was presented Mayor and Council Communication No. C-13087 from the City Manager
M&C C-13087 re submitting a tabulation of bids received for alterations and renovations to the Meadowbrook
authorized trans- Golf Course Clubhouse; and recommending that the City Council:
fer funds and
contract with I. Adopt the attached Supplemental Appropriations Ordinance, increasing
Architectural
Utilities, Inc. appropriations in the Golf Course Fund by $700,000, and decreasing the
Minutes of City Council S-3 Page 503
�5bq�
Tuesday, October 8, 1991
-13087 cont. Unreserved Retained, Earnings of the Golf Course Fund by the same
amount, -,and
2. Authorize a transfer of funds in the amount of $700,000 from the Golf
Course Fund to the Park and Recreation Improvements Fund, and
3. Authorize the City Manager to execute a contract with Architectural
Utilities, Inc. in the amount of $324,000 for alterations and renovations
to the Meadowbrook Golf Course Clubhouse.
M&C C-13087 It was the consensus of the City Council that the recommendations be adopted.
adopted
Introduced an
Ordinance Council Member Chappell introduced an ordinance and made a motion that it be adopted.
The motion was seconded by Council Member Meadows. The motion, carrying with it the
adoption of said ordinance, prevailed by the following vote:
Ordinance No.
10931
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, Meadows, and Chappell
NOES: None
ABSENT: None
The ordinance,.as adopted, is as follows:
ORDINANCE NO. 10931
AN ORDINANCE APPROPRIATING $700,000.00 TO THE GOLF COURSE FUND, GOLF
COURSE CAPITAL IMPROVEMENT PROGRAM, AND DECREASING THE UNRESERVED,
UNDESIGNATED RETAINED EARNINGS BY THE SAME AMOUNT FOR THE PURPOSE OF
FUNDING RENOVATIONS TO THE MEADOWBROOK GOLF COURSE CLUBHOUSE; PROVIDING
FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR
ORDINANCES AND REPEALING ALL PRIOR ORDINANCES IN CONFLICT HEREWITH;
PROVIDING FOR ENGROSSMENT AND ENROLLMENT; AND PROVIDING AN EFFECTIVE
DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS:
SECTION 5.
This ordinance shall take effect and be in full force and' effect from and
after the date of its passage, and it is so ordained.
M&C C-13088 re There was presented Mayor and Council Communication No. C-13088 from the City Manager
lease agreement recommending that the City Council authorize a third extension of City Secretary Contract
with Central Band No. 15858 (lease agreement) with Central Bank and Trust, dba Texas Security Bancshares,
and Trust, dba Inc., for office space located at 712 West Magnolia Avenue contingent upon execution of
Texas Security contracts with the funding agencies, with a term of the agreement on a month-to-month basis
Bancshares, Inc. beginning from October 1, 1991, through July 31 1992, for an amount not to exceed $1,578.42
per month for Job/Training Partnership Act.
Council Member Council Member Chappell advised the City Council that he would be abstaining from the
Chappell re vote on Mayor and Council Communication No. C-13088 because of a substantial amount of money
M&C C-13088 owed to Central Bank and Trust.
Council Member Meadows made a motion, seconded by Council Member Silcox, that Mayor and
Council Communication No. C-13088 be adopted. When the motion was put to a vote by the
Mayor, it prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, and Meadows
NOES: None
ABSENT: None
NOT VOTING: Council Member Chappell
M&C, C-13089 re It was the consensus of the City Council that Mayor and Council Communication C-13089 be
cont. for one week continued for one week.
M&C C-13090 re There was presented Mayor and Council Communication No. C-13090 from the City Manager
ground lease with stating that the Federal Aviation Administration's Airways Facility Sector has requested
Pinnacle Air Itemporary facilities at Alliance Airport to accommodate office and shop space for
Services, Inc. maintenance technicians responsible for navigational equipment in and around the Airport;
that Pinnacle Air Services proposes to construct a 1,120 square feet facility at the east
end of the existing Federal Aviation Administration - Flight Standard District Office
parking lot; that the FAA has requested an expedited construction schedule and expects to
Minutes of City Council S-3 Page 504
Tuesday, October 8, 1991
&C C-13090 cont. occupy the facility within six to eight weeks of the "notice to proceed date" and/or formal
City approval; that, to accommodate their need, Pinnacle requests that the existing ground
lease be amended to incorporate land necessary for the construction of the building which
changes and adds 4,266 square feet to the existing 26,935 square feet already under lease
at a rate of $0.18 per square foot per year and results in an annual ground rental increase
from $4,848.30 to $5,616.18; that the Administration Section of the Aviation Department is
responsible for collection of funds due the City under this agreement; and recommending that
the City Manager be authorized to execute an amendment to City Secretary Contract No. 18032,
which is a ground lease with Pinnacle Air Services, Inc., for the use of land at Fort Worth
Alliance Airport, increasing the land under lease by 4,266 square feet. On motion of
Council Member Chappell, seconded by Council Member Puente, the recommendation was adopted.
M&C C-13091 re It was the consensus of the City Council that Mayor and Council Communication No.
cont. for one- week C-13091, R.O.W. Encroachment -Monument Signs for Alliance Center, be continued for one week.
M&C C-13092 re
cont. for one week It was the consensus of the City Council that Mayor and Council Communication C-13092,
Agreement Permitting Hillwood Construction Corporation to Install and Maintain Traffic Signs
on public streets within the Alliance Airport area, be continued for one week.
M&C, FP -2871 re There was presented Mayor and Council Communication No. FP -2871 from the City Manager
contract with recommending that the City Council accept as complete the contract with for change orders,
Architectural bringing the final project cost to $126,918.54, with funds required for the contract
Utilities, Inc. available in the current capital budget of the Sewer Capital. Improvement Fund. It was the
consensus of the City Council that the recommendations be adopted.
M&C FP -2872 re There was presented Mayor and Council Communication No. FP -2872 from the City Manager
contract with stating that water and sanitary sewer replacements in Old Hemphill Road, Sheridan Road
Larry H. Jackson North, Sheridan Road, and Valera Court has been completed in accordance with contract
Construction, Inc. specifications; and recommending that the City Council accept as complete the contract with
Larry H. Jackson Construction, Inc., for Water and Sanitary Sewer Replacements in Old
Hemphill. Road, Sheridan Road North, Sheridan Road, and Valera Court and authorize final
payment in the amount of $16,543.57 to Larry H. Jackson Construction, Inc., bringing the
final project cost to $160,359.74, with funds required for this contract available in the
current capital budget, as appropriated, of the Water and Sewer Capital Improvement Funds.
City Manager Ivory City Manager Ivory advised City Council of an amendment to be made to Mayor and Council
re amendment -to Communication FP -2872, stating that the recommendation should read "It is recommended that
M&C FP -2872 the City Council:" instead of City Manager.
Council Member Meadows made a motion, seconded by Council Member Woods, that Mayor and
Council Communication FP -2872, as amended, be approved. When the motion to put to a vote
by the Mayor, it prevailed unanimously.
M&C FP -2873 re There was presented Mayor and Council Communication No. FP -2873 from the City Manager
final payment to stating that the street improvements on Lancaster Avenue from Summit to Currie has been
Centerline Con- completed in accordance with contract plans, specifications, and requirements; that funds
structors, Inc. required for the final payment are available in the current capital budget, as appropriated,
of the Contract Street Maintenance Fund; and recommending that the City Council accept as
complete the street improvements on Lancaster Avenue from Summit to Currie and authorize
final payment of $1,775.95 to Centerline Constructors, Inc. It was the consensus of the
City Council that the recommendations be adopted.
M&C G-9332 re
Fort Worth Tax
It appearing
to the City Council that a public hearing was scheduled for today's City
Abatement Reinvest
Council meeting in
connection with designation of the
Fort Worth Tax Abatement Reinvestment
men t Zone No. 8
Zone No. 8 and that notice of the public hearing
was published in the newspaper and
delivered to the
presiding officer of the governing
body of each affected taxing unit at
least seven days
prior to this meeting as required
by state law, Mayor Granger asked if
there was anyone
present desiring to be heard.
Mrs. Ann Diveley Mrs. Ann Diveley, representing the City Manager's Office, appeared before the City
re M&C G-9332 Council and introduced into the record Mayor and Council Communication No. G-9332, as
follows:
SUBJECT: PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH TAX ABATEMENT
REINVESTMENT ZONE NO. 8
RECOMMENDATION:
It is recommended that the City Council take the following action:
1. Hold a public hearing concerning designation of the Fort Worth Tax
Abatement Reinvestment Zone No. 8, and
2. Adopt the attached ordinance which designates the Fort Worth Tax Abatement
Reinvestment Zone No. 8 pursuant to Texas Property Redevelopment and Tax
Abatement.Act, Tax Code, Sections 312.001 through 312.209, as amended.
DISCUSSION:
Consideration of this issue as a part of today's agenda serves as a public
Minutes of City Council S-3 Page 505
J.�c7
Tuesday, October 8, 1991
M&C G-9332 cont. hearing on the designation of a reinvestment zone as required by the Property
Redevelopment and Tax Abatement Act. Notice. of this public hearing was
published in the newspaper and delivered to the presiding officer of the
governing body of each affected taxing unit at least 7 days prior to this
meeting as required by state law.
The proposed area meets the criteria for the designation of a reinvestment zone,
as required by the Tax Code, in that the area is reasonably likely, as a result
of the designation, to contribute to the retention or expansion of primary
employment or to attract major investment in the zone that would be a benefit
to the property and that would contribute to the economic development of the
city. In addition, the improvements sought in the zone are feasible and
practical and would be a benefit to the land to be included in the zone and to
the city after any tax abatement agreements which may be entered in accordance
with state law have expired.
The designation of a reinvestment zone expires after 5 years and may be renewed
for periods not to exceed 5 years.
The Code requires a city to designate a zone prior to entering into tax
abatement.
There being no one else present desiring to be heard in connection with the public
hearing designating the Fort Worth Tax Abatement Reinvestment Zone No. 8, Council Member
Silcox made a motion, seconded by Council Member Meadows, that the recommendations, as
contained in Mayor and Council Communication No. G-9332, be adopted. When the motion was
put to a vote by the Mayor, it prevailed unanimously.
Introduced an
Ordinance Council Member Silcox introduced an ordinance and made a motion that it be adopted.
The motion was seconded by Council Member Meadows. The motion, carrying with it the
adoption of said ordinance, prevailed by the following vote:
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, Meadows, and Chappell
NOES: None
ABSENT: None
The ordinance, as adopted, is as follows:
Ordinance No. ORDINANCE NO. 10932
10932
AN ORDINANCE AMENDING THE CODE OF THE CITY OF FORT WORTH, TEXAS (1986),
AS AMENDED, BY DESIGNATING A CERTAIN AREA WEST OF WILL ROGERS DRIVE AND
SOUTH OF ITS INTERSECTION WITH JOHN BURGESS DRIVE AS THE FORT WORTH TAX
ABATEMENT REINVESTMENT ZONE NO. 8; PROVIDED THAT THIS ORDINANCE SHALL
BE CUMULATIVE; PROVIDING . A SEVERABILITY CLAUSE; PROVIDING FOR
ENGROSSMENT AND ENROLLMENT; AND PROVIDING FOR AN EFFECTIVE DATE.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS:
SECTION 5.
This ordinance shall take effect and be in full force and effect from and
after the date of its passage, and it is so ordained.
M&C G-9333 re It appearing to the City Council that a public hearing was scheduled for today's City
street name Council meeting in connection with the changing of the street name of "Avion Road" to "Texas
Longhorn Trail", Mayor Granger asked if there was anyone present desiring to be heard.
Mr. Thad Brundrett Mr. Thad Brundrett, 1100 Macon Street, appeared before the City Council and requested
re M&C, G-9333 that the City Council give favorable consideration to the street name change of "Avion" to
"Texas Longhorn Trail".
There being no one else present desiring to be heard in connection with the public
hearing for the changing of the street name of "Avion Road" to "Texas Longhorn Trail",
Council Member Chappell, made a motion, seconded by Council Member Woods, that the hearing
be closed and that an ordinance be adopted changing the street name of "Avion Road" to
"Texas Longhorn Trail", extending from its start at Heritage Parkway to its termination at
Interstate 35W. When the motion was put to a vote by the Mayor, it prevailed unanimously.
Introduced an Council Member Chappell introduced an ordinance and made a motion that it be adopted.
ordinance The motion was seconded by Council Member Woods. The motion, carrying with it the adoption
of said ordinance, prevailed by the following vote:
Minutes of City Council S-3 Page 506
Ordinance No.
10933
Planned Develop-
ment Site Plan
PDSP-91-008
Health Care of
Texas Synowsky-
Farr-Ewton, Inc.
City Secretary
Howard re advised
City Council of thi
request of Mr.
William Kim Houp,
via telephone,
postponement of thi
hearing until
October 15, 1991
Mr. Joe Bilardi re
Mr. Houp was at
jury duty that is
the reason for thi!
postponement
Met in closed or
executive session
Reconvened into
regular session
Adjourned
Tuesday, October 8, 1991
AYES: Mayor Granger; Mayor Pro tempore Webber; Council Members Puente,
Silcox, Matson, McCray, Woods, Meadows, and Chappell
NOES: None
ABSENT: None
The ordinance, as adopted, is as follows:
ORDINANCE NO. 10933
AN -ORDINANCE CHANGING THE NAME OF "AVION ROAD" TO "TEXAS LONGHORN
TRAIL"; MAKING THIS ORDINANCE CUMULATIVE OF ALL OTHER ORDINANCES
AFFECTING STREET NAMES; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH;
AND PROVIDING AN EFFECTIVE DATE.
It appearing to the City Council that a public hearing has been scheduled for today's
City Council meeting in connection with the Planned Development Site Plan, PDSP-91-008
Planned Development Site Plan, Health Care of Texas Synowsky-Farr-Ewton, Inc., Hi -Mount
Addition, Block 6, Lots 5R and 7R and that notice of the scheduled hearing was mailed on
September 22, 1991, Mayor Granger asked if there was anyone present desiring to be heard.
City Secretary Howard advised City Council of the request of Mr. William Kim Houp, via
telephone, for postponement of the hearing until October 15, 1991, on Planned Development
Site Plan, PDSP-91-008 Planned Development Site Plan, Health Care of Texas Synowsky-Farr-
Ewton, Inc., Hi -Mount Addition, Block 6, Lots 5R and 7R.
Mr. Joe Bilardi, Director of the Development Department, appeared before the City
Council and advised City Council that Mr. Houp was concerned that the City Council would
have questions involving this Planned Development Site Plan and stated that he was at jury
duty on today and this was the reason for the request for postponement, but advised City
Council that, if they were comfortable with approving the Planned Development Site Plan on
today, it would be agreeable to Mr. Houp.
There being no one present desiring to be heard in connection with the public hearing
for the Planned Development Site Plan Health Care of Texas Synowsky-Farr-Ewton, Inc., Hi -
Mount Addition, Block 6, Lots 5R and 7R, Council Member Meadows made a motion, seconded by
Council Member Chappell, that the City Council adopt the site plan. When the motion was put
to a vote by the Mayor, it prevailed unanimously.
It was the consensus of the City Council that the City Council meet in closed or
executive session to seek the advise of its attorneys concerning pending litigation and
other matters which are exempt from public disclosure under Article X, Section 9, State Bar
of Texas Rules:
1. Gross receipts taxes of Southwestern Bell Telephone Company
2. $27,000,000.00 Trinity Housing Finance Corporation Multi -family Housing
Revenue Bonds, Series 1985
3. Appeal of TU Electric Rate Case (PUC Docket 9300) and Participation in
Additional Rate Proceedings
as authorized by Section 2(e), Article 6252-17, V.A.C.S.
The City Council reconvened into regular session with all members present.
There being no further business, the meeting was adjourned.
Minutes of City Council S-3 Page 507
M61