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HomeMy WebLinkAboutOrdinance 10303E~IBIT A DALLAS-FORT WORTH INTERNATIONAL AIRPORT CONCURRENT REPLACEMENT BOND ORDINANCE (SERIES 1976, BOND NOS. 9252, 9253, 9254, 9256 AND 9270) CITY OF DALLAS ORDINANCE NO. CITY OF FORT WORTH ORDINANCE NO. ~~ An ordinance passed concurrently by the City Councils, respectively, of the Cities of Dallas and Fort Worth, authorizing the issuance of five $5,000.00 replacement bonds to replace Bond Numbers 9252, 9253, 9254, 9256 and 9270 of Dallas-Fort Worth Regional Airport Joint Revenue Refunding Bonds, Series 1976 and resolving other matters relating to the subject. WHEREAS, the Cities of Dallas and Fort Worth by ordinance passed concurrently on October 20, 1976 authorized the issuance of and sold their Dallas-Fort Worth Regional Airport Joint Revenue Refunding Bonds, Series 1976, in the r aggregate principal amount of $93,5,000,000, dated November 1, 1976; and WHEREAS, five bonds of the above described Series of bonds, to-wit: ~v Bond Numbers 9252, 9253, 9254, 9256 and 9270 in the denomination of $5,000.00, and bearing interest the rate of 6.®~ per annum, payable semiannually o~ each November 1 and May 1 (Interest Coupon No.~~ and subsequent coupons appertaining thereto unpaid and maturing November 1, 1992 (the "Bonds") are outstanding and unpaid; and WHEREAS, an affidavit in due form verified by Thomas E. r Molloy, Assistant Vice President of Shearson Lehman Brothers, Inc. (now known as Shearson Lehman Hutton, Inc.) (the "Owner") to the effect that on or about November 2, 1987, the fonds were delivered to the Owner's offices at One Western Union International Plaza, New York, New York and 1 r that a subsequent search of said premises failed to locate the Bonds has been received and is on file in the offices of the Director of Finance of the Dallas-Fort Worth International Airport, and such affidavit and letter have been accepted by the City Councils of Dallas and Fort Worth as sufficient evidence that the Bonds are mutilated or damaged, within the meaning of Article 715a of the Revised Civil Statutes of Texas, and a certified copy of such affidavit and letter are attached hereto as a permanent part hereof; and WHEREAS, Coupon Number 12, coming due on November 1, 1987, a~.d, ~~.~bsequent coupons were attached to said Bonds, and therefore neither said coupon nor any subsequent coupons have been presented for payment; and WHEREAS, the Owner rof said Bonds and lost coupons desires that replacement bonds be issued to replace the aforesaid mutilated or damaged Bonds and lost coupons; and WHEREAS, by Acts 1965 of the 5.9th Legislature of the State of Texas, Chapter 334, commonly known as Article 715a of the Revised Civil Statutes of Texas, the City Councils of Dallas and Fort Worth are authorized to issue without an election bonds to replace any bonds theretofore lawfully f issued which are outstanding and which have been destroyed, mutilated, damaged, lost or stolen, provided that such replacement bonds may be issued only upon indemnification satisfactory to the Cities establishing proof of ownership and the circumstances of the loss, theft, destruction, 2 damage or mutilation of the bonds for which replacement bonds are being sought; and WHEREAS, Open Penalty Lost Securities Bond No. 5445450-0085 dated December 30, 1987, and executed by an authorized representative of the General Insurance Company of America, as obligor, has been received and is on file in the office of the Director of Finance of the Dallas®Fort Worth International Airport and such Open Penalty Lost Securities Bond is acceptable to the City councils of Dallas and Fort Worth as sufficient indemnity under the provisions of Article 715a of the Revised Civil Statutes of Texas, and a certified capy of such Open Penalty Lost Securities Bond No. 5445450-0085 is attached hereto as a permanent part hereof . NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DALLASe NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTHS ~_ Section 1. That there is hereby authorized to be issued replacement fonds to replace the Bonds and lost coupons. Said replacement bonds and the interest coupons appertaining thereto shall be in the same forffi and in all respects of like tenor and effect as the Bonds, and the interest coupons appertaining thereto, except that such replacement bands and the interest coupons appertaining thereto shall be signed manually, or in facsimile, as provided by law, by the proper officials holding office at 3 the time of their issuance, and that no interest coupon shall mature prior to November 1, 1987. Section 2. That said replacement bonds shall be dated November 1, 1976, which is the date of the Bonds. Section 3. That said replacement bonds and all interest coupons appertaining thereto shall have the letter "Rt1 preceding the Bond Number and following the Interest Coupon Number. Section 4. That after said replacement bonds have been executed, it shall be the duty of the Chairman of the Board of Directors of the Dallas-Fort Worth International Airport or some officer, employee or attorney of the Board acting through authority from him, to deliver said replacement bonds to the Attorney General of Texas for examination and approval. After approval by the Attorney General of Texas, sa~.d replacement bonds shall be delivered to the Comptroller of Public Accounts of the State of Texas for registration. The replacement bonds thus registered shall remain in the custody of the Chairman of the Board, or subject to his order, until the delivery thereof to the owner of the original Bonds being replaced thereby. Section 5. That the Comptroller of Public Accounts of the State of Texas is hereby authorized and directed to register the replacement bonds in the same manner as the original Bonds were registered, giving them the same registration numbers as the original Bonds except that such 4 !% nuiaber shall be preceded by the Letter 10R." The Comptroller shall date his registration certificate as of the date of registration of the replacement bonds. Section 6. That all provisions of the ordinance passed by the City Councils of Dallas and Fort Worth on October 20, 1976 authori2ing the series of bonds of which the Bonds were a part and which are not in conflict with this ordinance are hereby adopted by reference and shall be a part of this ordinance. Section 7. That the preparation and passage of this ordinance by the City Councils of Dallas and Fort Worth and the adoption of the resolution recommending same by the Board of Directors of the Dallas-Fort Worth International Airport and the performance of each and every, all and sin- gular, the acts ordered hereby and all acts or expenditures incidental thereto shall be at no cost to the City of Dallas, the City of Fort Worth, or the Dallas-Fort Worth International Airport and shall be-borne entirely by and be the sole liability of the Owner of the mutilated or damaged Bonds which has requested the issuance of replacement securities as provided herein. Section 8. This ordinance may be executed in counterparts, and when duly passed by both Cities, and E r ~ separate counterparts are duly executed by each City, the ordinance shall be in full force and effect. Mayor of the City of Fort Worth, Texas ATTEST: City Secretary of the City of Fort Worth, Texas APPROVED AS TO FORM AND LEGALITY: City Attorney of the City of Fort W~~th, Texas APPROVED AS TO FORM: City Attorney of the City of Dallas, Texas PASSED: , 1989 CORRECTLY ENROLLED: - , 1983 S RESOLUTION NO. CERTIFICATE FOR RESOLUTION THE STATE OF TEXAS § COUNTIES OF DALLAS AND TARRANT § DALLAS°FORT WORTH INTERNATIONAL AIRPORT BOARD § We, the undersigned officers of said Board, hereby certify as follows: 1. That the Board of Directors of the Dallas°Fort Worth International Airport convened in Regular Meeting on the 4th day of April, 1989, at the regular designated meeting place, and the roll was called of the duly constituted officers and members of said Board, to°wit: Pete Schenkel, Chairman J. Jan Collmer Lewis Bond, Vice Chairman James P. Christon William E. Cooper, Secretary Mayor Annette Strauss Mayor Bob Bolen Louis J. Zapata Erma C. Johnson Billy R. Allen and all of said perso were present, except the following absentees: t~lo~-- , thus constituting a quorum. Whereupon, among other business, a written RESOLUTION APPROVING THE DALLAS°FORT WORTH INTERNATIONAL AIRPORT CONCURRENT REPLACEMENT BOND ORDINANCE AND REQUESTING ITS PASSAGE BY THE CITY COUNCILS OF THE CITIES OF DALLAS AND FORT WORTH was duly introduced for the consideration of said Board of Directors. It was then duly moved and seconded that said Resolution be adopted; and said motion, carrying with it the adoption of said Resolution, prevailed and carried by the following vote: AYES: All members of the Board shown present above voted °OAye . " NOES: None. 2. That a true,~full and correct copy of the aforesaid Resolution adopted at the meeting described in the above and foregoing paragraph is attached to and follows this Certificate; that said Resolution has been duly recorded in the minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from the minutes of said meeting pertaining to the adoption of said Resolution; that the persons named in the above and foregoing paragraph re the duly chosen, qualified and acting officers and embers of said Board of 'Directors as indicated therein; that each of the officers and members of said Board of Directors was duly and sufficiently notified officially and personally in advance, of the time, place and purpose of the aforesaid meeting, and that said Resolution would be introduced and considered for adoption at said meeting, and each of said officers and members consented, in advance, to the holding of said meeting for such purpose; 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. Article 6252'I7. as amended. 3. That the Chairman and the Secretary of the Board hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of said Resolution for all purposes. 4. That the Resolution has not been modified, amended or repealed and is in full force and effect on and as of the date hereof. SIGNED AND SEALED the 4th Secr ary r (SEAL) day April, 1989. Chairman ~`. 2 RESOLUTION NO. APPROVING THE DALLAS-FORT WORTH INTERNATIONAL AIRPORT CONCURRENT REPLACEMENT BOND ORDINANCE, REQUESTING ITS PASSAGE BY THE CITY COUNCILS OF THE CITIES OF DALLAS AND FORT WORTH, AND AUTHORIZING OTHER MATTERS IN THE PREMISES (SERIES 1976, BOND NUMBERS 9252, 9253, 9254, 9256 AND 9270) THE STATE OF TEXAS § COUNTIES OF DALLAS AND TARRANT § DALLAS-FORT WORTH INTERNATIONAL AIRPORT BOARD § WHEREAS, the Cities of Dallas and Fort Worth, Texas (the "Cities"j have heretofore entered into a Contract and Agreement dated April 15, 1968, governing, inter alia, the construction and financing of the Dallas-Fort Worth Regional Airport; and WHEREAS, effective January 1, 1985 the Dallas-Fort Worth Regional Airport became the Dallas-Fort Worth International Airport; and WHEREAS, such Contract and Agreement provides that when each series of bonds is issued that the Board shall seek and obtain the preparation of a proposed ordinance to be passed concurrently by the Cities, authorizing such series of bonds; and WHEREAS, in accordance with such procedure the Cities have heretofore issued their Dallas-Fort Worth Regional Airport Joint Revenue Refunding Bonds, Series 19'76, in the aggregate principal amount of $93,.500,000; and WHEREAS, five bonds of the above described Series of bOndS, t®-Wlt: Bond Numbers 9252, 9253, 9254, 9256 and 9270 in the denomination of $5,000.00 and bearing interest at the rate of 6.0$ per annum, payable semiannually on each November 1 and May 1 (Interest Coupon No. 12 and subsequent coupons appertaining thereto unpaid), and maturing November 1, 1992 (the "Bonds/0), are outstanding and unpaid; and WHEREAS, an affidavit in due form verified by Thomas E. Molloy, Assistant Vice President of Shearson Lehman Brothers, Inc. (now known as Shearson Lehman Hutton, Inc.) (the "Owner"j to the effect that on or about November 2, 1987, the Bonds were delivered to the Owner's offices at One w Western Union International Plaza, New York, New York and that subsequent search of said premises failed to locate the Bonds has been received and is on file in the offices of the Director of Finance of the Dallas-Fort Worth International Airport; and WHEREAS, the Board has sought and obtained the preparation of a proposed ordinance to be passed concurrently by said Cities authorizing the issuance of Replacement Bond Numbers R-9252, R-9253, R-9254, R°9256 and R°9270 of the Dallas-Fort Worth Regional Airport Joint Revenue Refunding Bonds, Series 1976, in the aggregate principal amount of $25,000.00 having specifically provided in such ordinance, and prior to the commencement of any of these proceedings for the issuance of replacement securities as set forth herein, having agreed with the Owner of the Bonds that the preparation and passage of this ordinance by the City Councils of Dallas and Fort Worth and the adoption of the Resolution recommending same by the Board of Directors of the Dallas-Fort Worth International Airport and the performance of each and every, all and singular, the acts ordered hereby and all acts or expenditures incidental thereto shall be at no cost to the City of Fort Worth, the City of Dallas or the Dallas-Fort Worth International Airport and shall be borne entirely by and be the sole liability of the Owner, which has requested the issuance of the replacement security as provided herein; and WHEREAS, it is the desire of the Board by this resolution to approve said ordinance in the form attached hereto and to respectfully request the City Councils of the Cities of Dallas and Fort Worth to pass said ordinance and thus authorize the issuance of said Series 1976 Replacement Bond. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE DALLAS-FORT WORTH INTERNATIONAL AIRPORT BOARD: r 1. That the proposed concurrent ordinance of the City Councils of the Cities of Dallas and Fort Worth bearing the short title "Dallas-Fort Worth International Airport Concurrent Replacement Bond Ordinance (Series 1976, Bond Nos. 9252, 9253, 9254, 9256 and 9270)11 be and the same is hereby in all respects approved by the Board substantially in the form and substance attached hereto and made a part hereof as Exhibit A. 2. That it is hereby recommended to the City Councils of the Cities of Dallas and Fort Worth that they pass the Dallas-Fort Worth International Airport Concurrent Replacement Bond Ordinance in the form attached hereto as 2 k 3 r .. Exhibit A and said City Councils are hereby requested to so do. 3. That the Executive Director is hereby directed to promptly forward copies of said ordinance to the City Councils of said Cities along with a copy of this resolution. 4. That, in accordance with the requirements of the Contract and Agreement, the Executive Director is further directed to forward by the earliest practical means a copy of said ordinance to the City Attorney of each of the Cities with the request that each present the same at the next meeting of his or her City Council, along with the request of this Board, respectfully submitted, that said ordinance be approved and passed. 5. That upon the passage of said or City Councils the appropriate officers of hereby authorized and directed to take such necessary or considered appropriate to delivery of said Replacement Bond at practic~bl,e date. r~ vt 3 dinance by said this Board are steps as may be accomplish the the earliest MASER FILE.) V ACCOUNTG•2 ~~~~ Of 1L OY ~ `•~'~' OY 1.~~ ~~~~~ ,y ~~.: ~R~AN~SPORTATION~PUBIIC >h10RKS•~ ~,/~'~J ~ /J ~J'~ ~j // ,~1I/~ rn ~ /~y~ IJ~ ,~J /~ ~y'/~ 1{A-TER ~DMINI$TRA71011 A •/ Y lL u.N/ 1{.J/ ®~ ~t.W~~ ~®IL/1V~ll/ ((i~ ~®~~ LLN/U Ili ((i~lUl/~ (li® U l{i I:AWsi DATE REFERENCE SUBJECT CONCURRENT ORDINANCE .OF THE CITI S PAGE NUMBER OF FORT WORTH AND DALLAS AUTHORIZING iot 2 5-16-89 **G-8042 TH N E F FIVE 000 REPLACEMEN BONDS AND INTEREST COUPONS TO REPLACE DALLAS-FORT WORTH REGIONAL AIRPORT JOINT REVENUE BONDS (SERIES 1976) Recommendation• It is recommended that the attached concurrent ordinance authorizing the issuance of replacement bonds and coupons be adopted by the City Council of the City of Fort Worth. Background: The Cities of Dallas and Fort Worth by ordinance passed concurrently on October 20, 1976, authorized the issuance of and sold their Dallas-Fort Worth Regional Airport Joint Revenue Refunding Bonds, Series 1976, in the aggregate principal amount of $93,500,000, dated November 1, 1976. The five following bonds of the above-described series of bonds are outstanding and unpaid: Bond Nos. 9252, 9253, 9254, 9256 and 9270 in the denomination of -~ $5,000, and bearing interest at the rate of 6.0 percent per -- annum, payable semi-annually on each November 1 and May 1 (Interest Coupon No. 12 and subsequent coupons appertaining thereto unpaid), and maturing November 1, 1992 (the "Lost Bonds and Coupons"). An affidavit in due form verified by Thomas E. Molloy, Assistant Vice President of Shearson Lehman Brothers, Inc. (now known as Shearson Lehman Hutton, Inc.), the owner of such bonds, to the effect that on or about November 2, 1987, it was discovered that the bonds had been lost from the premises of the owner and could not be found after a diligent search, has been received and i s on f i 1 e i n the offices of the Director of Finance of the Dallas-Fort Wor,th;;~I,n.terriational Airport. At the time, the loss oc- curred, Coupon No: 12„`coming-due on November 1, 1987, and subsequent cou- pons were attached~'`to~th'e bonds, and therefore neither said coupons nor any subsequent coupons .have been presented for payment. Shearson Lehman Hutton, Inc., as principal, ,and General Insurance Company of America, as obligor, have posted an `Open Penalty Lost Securities Undertaking to indem- nify the Dallas-Fort Worth International Airport Board, City of Fort Worth, City of Dallas, and the. paying agents from any and all claims, actions or suits, and any andoTal.l~.cos.ts and expenses, together with reasonable attor- neys' fees, that may be caused by the issuance of replacement bonds and coupons to replace the Lost Bonds and Coupons. This indemnity bond is on file with the Director of Finance of the Dallas-Fort Worth. International Airport. GATE NUMBER CE SUBJECT CONCURRENT ORDINANCE OF THE CITI S PaGE 5-16-89 **G-8042 OF FORT WORTH AND DALLAS AUTHORIZING ~__or2 - BONDS AND INTEREST COUPONS TO REPLACE ` DALLAS-FORT WORTH REGIONAL AIRPORT JOINT REVENUE BONDS (SERIES 1976}` The Dallas-Fort Worth International Airport Board by Resolution adopted on April 4, 1989, requested and recommended that the City Councils of the Cities of Dallas and Fort Worth pass an ordinance to authorize the issuance of replacement bonds and coupons to replace the Lost Bonds and Coupons. It is understood and agreed with the owner of the Lost Bonds and Coupons that the adoption of the attached ordinance and the performance of each and every act ordered by such ordinance and any act or expenditure incidents] thereto shall be at no cost to the City of Fort Worth, the City of Dallas or the Dallas-Fort Worth International Airport and shall be borne entirely and be the sole liability of Shearson Lehman Hutton, Inc., the owner of the Lost Bonds and Coupons. It is the opinion of the Department of Law that all required conditions precedent to the passage of this concurrent bond ordinance have been satis- fied and that the lost security bond is sufficient to indemnify the City of Fort Worth in the event the Lost Bonds and Coupons are ever presented for payment. WA:m Attachment APPROY£D BY CITY COUNCIL AS CORRECTED MAY 16 1988 K~ 4~dt,,,,. c~nr Sercetarg ~ ffis c~nr of F~ w~. Twc~: SUBMITTED FOR THE CITY MANAGER'S OFFICE BY Dave d Ivor DISPOSITION BY COUNCIL. ^ APPROVED PROCESSED BY ORIGINATING ^ OTHER (DESCRIBE) DEPARTMENT HEAD: Wade Adki nS CITY SECRETARY FOR ADDITIONAL INFORMATION CONTACT W Adkins 7623 tP.(I Ordinance No. DATE ~. ~' ~.