HomeMy WebLinkAboutOrdinance 1628 The City Council of the City of Fort '='orth rat in
regular session in the Council Chamber at the City mall at nine-
thirty o'clock N. M., 'W'ednesday, the 23rd day of October, A. D.
1929, and upon roll call the f'olloviing were presents Was. Bryce,
i,Trayor, Dr. IV. R. Thompson, ',':ill€+rd Burton, Van u'andt Jarvis,
µsonnig, E. T. F onfro, A, .4. Thomas, and J, Ft. Penn, Councilman,
constituti--47 a najority and quorum of the membership of the
said board, and I. L. Van Zandt, Jr., City..3eerotary-Treasurar,
was in attendance at said meeting, and the following proceed.inCrs
smong, other 'thinr;s were had and done:
t.ounci lman Burton . seconded. by Councilman
Jarvis_-- moved the adoption of the following ordinance:
ORDINANCE N.G. 1628
=,N ORDINNNCS PROVIDING FON. THA 13UANCE. OF NEGOTIABLE
COUPON BONDS OF TH-3 GOVIIFNrr'.aT OF THE CITY OF FORT `;70RTII, AIIMTa
ING TO THE PRINCIPAL aUM OF wo HUNDRa) AND FIFTY THOUSAND
DOLMA "` ( 250,000.00) OUT OF AN AXTAORI :10 Ia:JUZ OF ONE MILLION
FOUR la='iiM TFFOUL AND DOLIARS ( 1,4bO!000.00), AND B aVG KNOW
Al S4I'il1i5 51 ANIS D�3IGNAATrA 111 ,RTZlkL THOROUGHFARE
BOND30", TO BE I33UED FOR THE PURPOws� OF CONSTRUCTING, IMPROVING
AND EXTSITDING A Nis' WEN ARTIffflkL $TTR-LiET AND THOROUGH M- RE RUNNING
NORTH AND SOUTH, AND A N&; MAIN AP't 1.IAL STREET A14D THOFOUGFTF%RZ
ZCTENDING ff1,3T AND "'RST THROUGH SAID CITY-, ACH OF SAID BONDS
TO BE IV THE DENOMINATION OF ONE TRt}U3,".FID DOL1AR3 ( 1,000.00)
ACH, TO 133 DATili ) JANUARY 13T, 1988, D%Y'URING FROM FIV": (5)
to FORTv (40) Yis7'tiFS FROM THE DATE T1ERSOF, AND TO BELR ItMTEF ZT
OP POID AND WEE Q%RTM PER GENT (4-'�, ) rLT, AN.WM,
` 4,%7NUXLEY, THE I3x1T0'„aZT To F34 IN COUPON
NOTi::i TO THE BOND, DIF EOTING THAT TEFL SAID BON013 W
h7ZCUT' a'Ji 1 ?%YOR AND CITY 313CF'y"II'aRY-TRit133URER; AND PROVIDING
FOR AN AIS +,Ty TA:X LEVY FOR THE kAiP.,111WT OF TFR.s INTGCa.+'`T ON SAID
BONDS AND TO CRA%TLs A :3INKING FUND FOR THE PAYMENT OF TIM
PF?INCIPAL TFiT.,:MEOF, AS THE .SAME TUFir 3 FROM TIME TO TIME; kND
PROVIDING TFJAT TH13 O11DTNh11CF, SEktI, BE IN FORCE AND 17FIXT FR(jM
.►ND hF'TER THE DATE OF ITS PA SSAG16,.
WITS il”, on the 3rd daj of November, A. D. 1025,
pursuant to the authority vested' in said :pity by :3ection 19 of
Chleptar XXV .af the Charter of the City of Fort �.Iorth, adopted
by the qualified Voters within �.he limits of said City on the
Y
11th day of December, A. D. 1924, and the 10%vs and constitution
of the .3tate of Texas, the City Council of the City of Fort
orth, Texas, by a resolution and an ordinance of that date,
directed the aubmi33ion to the resident property tax paying
qualified voters of said City, at an election to be hold in said
City on the 24th day of November, %. D. 1925, of the right, power
and authority of the City Council of said City to Issue nego-
tiable couprn bonds of the corporate government of the said
City In the Principal sum of One Million Four Hundred Thousand
Dollars (t,1,400,000.00), for the purpose of making permanent
improvwierits in said City by constructing, improving and extend-
ing its syster, of streets and thoroughfares by constructing and
extending a nor main arterial street and thoroughfare running
north :end south, and a new main arterial street and thoroughfare
extonding east and ;.,ost through said City; and
tWWAF S, in conformity with the said resolution and
ordinance, the 7j'ayor of said City did mtaka proclart),.tjon of said
aleetion, and fixed the date thereof for the 24th day of November,
A. D. 14125; and
1;7H3RJk3, said election order and proclamation thereof
was prepared anew published in the manner tAnd for tho time pros-
cribed in said resolution and ordinance; and
1WH1;Ra-,5, on the 24th day of November, h. D, 1025, said
election was hold in the City of Port Vlorth at the respective
polling plaoss designated in the election order, at which said
election the issuance of said bonds rase submitted as FA proposition
to the tax paying qualified voters of said City; and
the official ballot on such occasion, in con-
formity with the riasolution and ordinance of the City Council,
herainabove mentioned, and in accordance with the order of said
election, in form and in substance reads as follows :
V.111&.As, in the election hold in said City of Fort
orth an the 24th day of Niovsmbar, N. D. 1925, on the question
of the i3suanae of said bonds hereinbefore mentioned, there was
a majority of votes In favor of the Issuarce of said bonds; and
by virtue of said election, said Council is
vested with power and authority by and from the people to issue
said bonds for the purposas aforementioned, and to make same valid
and binding, obligations of the corporate government of the City
of Fort I'Vorth; and
.0'EIQ it is dewnal visa and expedient by the Gity
Oouncil of the City of Yor1j ',.,,orth In the exercise of the dis-
cretion reposed in it by 166 that only Two liundred. and Fifty
Thousand Dollars (4250,000.00) worth of the authorized Issue of
One Million Four Hundred Thousand Dollars ($1,400,000.00) be
issued in bonds at this time, said bonds to be issuod, being a
part of Series 51 and designated as "Main Arterial Thoroughfare
!3on,ds".
NOW, T4{Mz'Q1*E,
BE IT ORD&IMM BY THS CITY COUNCIL OF T11j CIT`1 OF
FORT' WORTH:
3ECT1Lal. 1.
That purquant to 3ection 19 of Chapter XXV of the
Cliarter of the City of Fort ''orth, adopted. 1,1Yy the junlified.
voters within the corporate limits of said City on the 3.1th
day of December, f%. D. 1924, and the laws and constitution of
the 3tate of Texas, and pursuant to a vote of the resident pro-
party tax paying voters of the City of Fort V.7orth, at an election
hold in said City for such purpose on the 24th dray of Vovember,
A. D. 1925, that the municipal g-ovinnyre.,rit of the City of Fort
earth issue Itn corporate -ionds in tho prin-
cipal sum of Two HUnd1red and leifty 'llaousand. Dollars (,,250,000,00),
out of an authorized issue at said election of one Million Four
hundred Thousand Dollcirs (�1,400,000.00), and which authorized
issue is known as Series 51 and desiL7iated as "stain Arterial
oro-o.ght'nre T-tonds9, w tho jx,,).rxjs ac, to I)e tagued ah-CII 'rA, in
Lho denomination air one
d,ated Niovernber Dit, 1929, b*irin;,z�
interast at the rate of
four and tIA"as ciuktrItors por dent (41%) loot t,,nnumm paws ablo saml-
annually on the let day of TAT and WwWwr of oach, yoxr ras-
peotively, botb1,Yrinolpn&,-I %wl intoreat of -,ialdl bonds, baing,
peyable at tha lciarvwer N."aticosal '.t3gJx in tho -,Aty of No w Yors1:
a " ,
3tate of Now York, the sawl-tuinual !xA.ctrs,4t evldlar.�o-sd 'by
i4tereat coupons attearhad therito, a)l of aald bonds to be,
aTeasated for an,11 on bohAlf of the Clty of I'art 7,'Orth, 'by the
Mayor tharoofx attostel by its CIQ with,
th't Ueal Qf t1ho city thereon KAy 1.,qprassad, bwt the Interest
cot'Apona to bk�, oxicuted Wth thhe Itthagraphod, taosImIle signature
Y.
tho I S'yor 'and ,,I ty of V,;,e ("U ty of Fort
,A-,tea- rw a 0e aalgid. bovyds handl coupnn�'
payable to bearer, %nd zald borAu &hall be numbored in the wal.7
aha monner nat cmtt, five Q.) years from
the date thereof and arinually tza%oreaftcr artllhe lAstmo-,Aul4ag�
on, 1vall become pay5blo withlri fert,,7 (40) y0firs from th's dAte
thereof, and the bonda themselves. -',-Ioundrea. and- Afty (250)
in number, shall be namboreat, corzsoolativo# frwi one (1) to
two hundrod AwJ< fifty (250) inelanlve�' and, Shal"', '�Iv'&twrc in the
amounts and manner hweinnftsr ast out. Snid beonds uhall bo
used tor the purpose Q makjn,,�-
parT aas L-,pr.ovo_e, to u�
oonstractin g, improving arid axtondin.4 s, now r,,iain arterial streat
and thoroughfare ranning north �and 00%tht, wnd as nac -sans n Patorial
street andthorou,1,;',Iu',%re axtwKing wat and west through said
ci ty.
Thx,�t tho- ganaral ft�rm of' anid aucR the aoujpona
thoretc, 0-YA110-nead tl"'Vo intarmnt' to !:�Ond's 'Uhal'J", be
oxecated aubstantiaI17 in the folleming form
NO. UNITED STATES $1000.
OF AMERICA
STATE Or TEXAS, COUNTY OF TARRAi>iT
SERIES
C I T Y O F F O R T W O R T H
---0000soo---
KNOW ALL MEN BY THESE FRESEr7T3:
That the government of. the City of Fort Worth, a
municipal corporation, duly created under the 1:vrs of the State
of Texas, hereby acknowledges itself to owe, azill for value re—
ceived promises to pay, to bearer,
ONE THOUSAND DOLLARS (01000.1J0)
in lawful money of the United States of America, on the day
of A. D. 19 , together with interest thereon
at the rate of four and one—fourth (4-,L,%) per oentum per annum,
payable semi=annually on the 1st day of November and May in each
year, on presentation and surrender of the annexed interest cou—
pons, as they severally fall due. Both the principal and inter—
est of this bond are nayable at the office of the Hanover .National
Bank, in New York City, N. Y. , and for the due and nunctual pay—
ment of this bond at the maturity thereof, and the interest there-
on, when it falls due, the full faith, credit and resources of
the City of Fort Worth are hereby irrevocably pledged,
This bond is one of a series of
numbered consecutively frons
to inclusive,
each of the denomination of One Thousand 01,000.00) Dollars,
amounting in the aggregate to the sum of
issued for the purpose of
under and by virtue of 'the
Constitution and laws of the State of Texas, the Charter of the
City of Fort Worth, and an ordinance of the City Council of
said City lawfully passed and adopted on the day of
A. D. 19 , pursuant to valid au-
thorny from the property taxpaying qualified voters of said
City, at a .proper and legal election held on the 10th day of
January, A. D. 1928.
It is hereby further exioressly re•oreseizted, recited,
and covenanted by the government of the City of Fort 71orth, to
and with each and every holder of said bonds or any one of them,
that all acts, conditions and things required by the laws of the
State of Texas, and of the Charter and Ordinaaces of the City
of Fort Worth, precedent to and in the issuance of this bond,
have been done, have happened, and have been performed in pro-
per and lawful time, form and manner as prescribed by law, so
as to make this bond a legal, binding and valid obligation of
the City of Fort Worth, and that provision has been made for the
levy and collection of a direct annual tax on all taxable property
in the City of Fort Worth, and that such tax has been levied in
a sufficient amount for the -payment of the principal and inter-
est of this bond at the .respective maturity dates thereof, and
that the total indebtedness of said City, including this bond,
and the issue of which it is a component -oast, does not exceed
any constitutional or statutory limitation.
IN TESTI1401,7Y THEREOF, the City of Fort Worth, in the
State of Texas, has executed this bond by causinG it to be sign-
ed by its Mayor and attested by the City Secretary--Treasurer,
with the seal of the City thereunto duly impressed, and has caused
the annexed interest cou-cons to be executed with the facsimile
signature of the Mayor and City Secretary— Trea:surer, and dated
as the first day of May, A. D. 1988.
CITY OF FORT WORTH, TEXAS.
Mayor
ATTEST:
City Secretary—Treasurer
(FORM OF COUPON NOTE)
SERIES
NO. : 21,25
The City of Fort Worth, in the State of Texas, pro-
mises to pay to bearer Twenty-one Dollars and Twenty-five Cents
(: 21.25) , on the day of A; D. 19 , at
the Hanover National Bank in the City of New York, N. Y. , for
interest due that day of its municipal bond, dated May 1, A. D.
1928, and numbered
CITY OF FORT WORTH, TEXAS
Mayor
ATTEST:
City Secretary-Treasurer
o
: <<$ sk; t £R a Si, a ? :i;ado f ,'' 'y `�4i a r
Dollars (Q250,100,00), oat Of the Suid autIvOKUKI Watil of
a million BR;1... Randred Thousand r., 4 0xOO)
to Issued for the purpose of cc' t,-va Ung, improvd,rq ax-4
+oorth ,—nd as$ void '% nmv tnaln a''.ortari std*et arv.,la1 tx.,.#k;•
fsvi tvct ing t, ",t' an-1. vosth ouC,;h' ,�asld City, mz-,W sftall. ccna-
ziat of Two Nundrad and t` fty ( n carod tro,-, t
at ho `I,`k.e of a w", tlave Eur' quar"re pd"ar. cant Per ann=" ,.
;itaya`'l s o - nua lly s a fora_ id; allofi"-411("")"#' %ald: tvo 7;41;'nc ° .
ai 11
.Mv ky an , xa,,,11
SgA, ,,11 of the said brsC,s. s' tl'ta' S"am iso "3,11 of
in the manner, am! amovan as set out in th StAtemOnt
4,*r h 'a tac',a.aq s, to-qy '2r»
IST
1035 a,000
IS a,000,
7 S'000 .
3 '
39 5,000
19410 S,000:
0,000"
42 51000.
4.3 5,000.
44 5100
4" 5, IX)
b,000
a ,00,
1950 7200,
61 0.
SO 7,000''
63 7,00w
54 Y'000.
55 7,000.
86 YOM
7 7,000.
7,000.
59 7,00w
1961) 7,000.
151 7,00W
612 00
6-3 T 000
64 11,000.
66 11,w
mo
67 11,00w
a 'my,,
610) 11,00s
1970 000.
'Phat the Said "ban, s to be
stAld j,,,tN f;jje J.�-ast )-,o Offl-Irit Y�11'11,11 be
aall for than 'ps.",' Vatarast to tha
of delivery and Wo proceeds thoroor" to pjaaa,�j ill 4,1�
_gi
troesv,ryr of z'hs Z;'Ity of iiort '`.ortt�, utiliz,,tl for th�i ap
pocAal
purpozem foTYAJ.0,11, the',,?T arta~ cr �tod.
3SCRON IV
ThQt Sol Ovs Purp000 of ra n�jrxk rke f,,ijrjo for,
the 'p&"'ryrman't �irld -"V�enzploto Of tl�e fwro"'goDng
g
bmdoa debt, prinolpal and interest, anrl, all Alad every part *:1,'
oarea, U'tdro "Y's hereby 1000061 'ank,1 Mhovro r0holl bt 'us"JL
far
wwtal,
for tha, �Y-gwy- Towe" "and, owor' thoreaftar
Ut I s-"4d bnA ,, aaior aziy p" rt tll--fir'
a0 ' �',r .9d
C on t'zi S011 suah ar, wnov.,at ae c,;fit-y ba noross,',,ry =4 zidlwr-intelt
be it m,-ir cy, 'Larna on, Ove'r"t! t) aft hundr''
of property vaLvAio5 real, ss-adl at,'tb'400t to
taxatl M; aw, n'."3t axwl:at tharsfr '' "I'nwd"ar' t)'xa U MAlon and,
lawn of tha Onto of Qw, situated anO maivi K X. City wf,'
Fort Torth on. the lot dw:, of' and ai", tho 1` t
of jwlvtar"y 01" s ach -ytvar thoroal"t,,tr -,ar,,tl.l waifl debt reeprosented
'by said bondlu and coupon intar&st notwi shal'." hv'kvs f""I"lly
"id, W if, at any Umm, nich tax be
It sball be, V1,-v4 dtity the City tir, anxy Othwr
body of Ao A iz
y of F'ort ',Inrth to as t"2 aport oiLd.
such additiorn! amount of m=7 vl,�tnf the,, of
0""e tin!'O GA'A'%r, aux n ba to, supply the deflalene"y
M11 all inte'rest shall hfLvo bear, ppld and the sinking, T"i'ad
oetablishad skirequir%, '! by the Ofmistit-ation of the ",2'tKtis of
Texan assd the Charter of tha Cityof Fort '6,iorth.
That it shall the duty of Whe0%t Connell of the
,it-,.k` of Fdim' �'; "ih ana its zuoeessors, and, of tho. gave mnownx
,on*ral 4r
Pwis ror the said City of Foff'a !'off" h v^", 10zo,, and
ft„`§a'" e°"TenT Suonessive your 11 f'e o �Tt�, ,h� a.it.Y�.'.t,"`r„x a..°,e,A
.ash %; nt on h w<n "andr l e* �...�;� 6,a:�f w��r.8.'� ,.3ropor-'t-,f : t ”
9> tws (or ,.11 much tbereof ..a.s Y-,� x ear.`a�,a �x to'n
anis tea., ., ., w,a$ ,. tiwk no aacoue at A',1 t0v WO dl �..E
t e 0 o a
... a s.- .s v `_ e-A`,i.:... to;,,..F ,. w w w.3 Ld.ai,'"', A,x :.3 q 1 ?Y:,.
be to of
viant
Of,
is s,t "r'I a`3a p 1 S;t,njp,,00" ti,,k bonds h:ivel r ='.a bov
is w ,.da.,wuns f -; Wo t AMC ".A shall no
Prot ° 3.ae hot' I ^:'F ' a't x.y Vho "� i_ `z"i 7*`,�.!'.�.�:"�.� ,i�' .:��'.�; " � �, k.v
n`a psrat;a a:-:a tavlsac!'.. on
bin books.
3HOTION V11
have w oo"n, p `w'FkpT:wafl +*':zi.3,`�4.�. �a�,.a',.a*"�;h�n.. V,,s !,�,,Ponntr proacribud b�ar
the ordlnAnee, they stall, be anbAtted to " tia % t(yrnw y t rAftral
011 the J,tato of Teta-q, togethez, o1 th a a rd; copy of thia
the Cit - "f Fork cludi"` , h'so>zde, x'tobrai. gigs
authorized aad the azzassed, of the tuxable prapert)y in
said 51to for tax approval, and none of asid and shall be
nogotiated, WA or transferred nntil the sfta,,,,o shall llaave ra-
colved the offleial sanction ot the saldt,,ttorr4cr-,7 G'enwral as
proscribed by law, sin t Inood
nd thavoaftor said, bonds shall -* p
,witl"t the State Wptrallar of i'�,,blio for rogistratlon,
31QUOu Vill
fl,gat tlkte City of the Oit, of
,ii,orth, or otltaNreustcxliftr� of such fanda, durknC; the
aior�ths Ot 1',fov*wb*r and May of andl evary ,,j-aar daring
the 13fe of sah,S bonds or part toareof, and, not later than
the , 5% day of ane; of said wontinz, 81,'o ll tr%narnit surfieidnt
t"o?"1*y otit as, the, lntetra.',,it f,,end',: nrwrtad, for tk"r;
payment or the Int-erest iiocrndU-',g on srt',. - IL13 bonds
, b
to the ilanoVer HationSI iank Of t'At Cjt'y- "'�or]k" "E"twit"s
of New "Tork, axed lihowlso .ire 6j,as.ttionwo -shnll bo enak6e, in dtto'
aour�,ie to grrovlde forth'a f 'U, a Prinelpal of' T"'kny of'
sold bonds in advance of the maturity of Same.
WTION TX
All., ordinanaeaai,i parpts of or-dinances k'n onrif"I'lot
bArawith be anul thay are horeby c-,-rjrwAfix: repealed.
380TION X
The holdine or adjadiestion of Anp, soOtl0r, yportion,
ov part hereof to bo Invalid, 911,A11 nk,>t smr-faot the valldlt';7
of ally c,,t'nor seetion or part of thia nidi nauoe, but all AuGh othAr
sections, porto- acral parts h.are-,wf slaall be and r .inlnva lid,
X1
That this, arelinftnOO shall talre aj�fsotr ar, be In full
fora o -and efteat from the date of ItZ PaStMgl RrIC5, It is so
ordalnod.f
*:a+'e �,,.'e".iis", is"-x,�k.?ell.a g vt'a'it"-' .' 'q€x`," s t,",4�. ' ;;A7`� " !,i>;*r �'.°�o n, �,} :,: �"':5;oe`
' Q 4'm, e* 4 ;".` ' ria to ,..doP,+y. pia . .§fin ,tt-- p,rwft
to v'.+la,+w '7. na"' .as 1.�" :,» �4'e� sr:t 3c„dp e '„w
.S„dJ.E.3 TR,,%, +":a. xii 2-v� a.3
avd`.:rlo�golll;m wx "+'rant`.'`: 'ta £='4 Me m' P4or'`W; an£'�'+.z" of Ord?�.imk.pa
No. 1628, a Q :* t ,..ta,`t WIS '"lcwAp wd bq
th-0 01,11-y
M*Oong AM Ir", c*vu t7ha t the alta ft-111, Win"
x327 gland at Toxas, Als she
day of UctohnV A D. I=-'a&
R