Loading...
HomeMy WebLinkAboutOrdinance 10304EXNIBII R DALLAS-FORT WORTH INTERNATIONAL AIRPORT CONCURRENT REPLACEMENT BOND ORDINANCE (SERIES 1972, BOND NOS. 4965 THROUGH 4970) 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, authori2ing the issuance of six $5,000.00 replacement bonds to replace Bond Numbers 4965 through 4970 of Dallas-Fort Worth Regional Airport Joint Revenue Bonds, Series 1982A and resolving other matters relating to the subject. WHEREAS, the Cities of Dallas and Fort Worth by ordinance passed concurrently on November 17, 1982 and November 23, 1982, respectively, authorized the issuance of and sold their Dallas-Fort Worth Regional Airport Joint Revenue Bonds, Series 1982A, in the aggregate principal amount of $157,000,000, dated November 1, 1982; and WHEREAS, six bonds of the above described Series of bonds, to-wit: Bond Numbers 4965 through 4970 in the denomination of $5,000.00, and bearing interest at the rate of 10.20 per annum, payable semiannually on each November 1 and May 1 (Interest Coupon No. 1 and subsequent coupons appertaining thereto unpaid), and maturing November 2, 1997 (the "BonaYs") are outstanding and unpaid; and WHEREAS, an affidavit in due form verified by Steven M. Iorio, Assistant Vice President of Kidder, Peabody & Co., Incorporated (the "Owner"), together with a letter of Mr. Iorio, to the effect that on or about April 27, 1988 it was discovered that all coupons appertaining to the Bonds were missing and presumably lost from the premises of the Owner 1 and could not be found after a diligent search thereof, have been received and is on file in the offices of the Director of Finance of the Da11as~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 1, coming due on May 1, 1983, and subsequent coupons were attached to said Bonds, and therefore neither said coupon nor any subsequent coupons have been presented for payment; and WHEREAS, the Owner of said Bonds and Yost coupons desires that replacement bonds be issued to replace the aforesaid mutilated or damaged Bonds and lost coupons; and WHEREAS, by Acts 1365 of the 59th Legislature of the State of Texas, Chapter 334, commonly known as Article 715a of the Revised Civil seatutes of Texas, the City Councils of Dallas and Fort Worth are authorized to issue without an election bonds to replace any bonds theretofore lawfully 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, Bond of Indemnity No. 8118-54-04-06 dated June 7, 1988, and executed by an authorized representative of the Federal Insurance Company, 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 Bond of Indemnity is acceptable to the City Councils of Dallas and Fort Worth as sufficient indemnity under the pro- visions of Article 715a of the Revised Civil Statutes of Texas, and a certified copy of such Bond of Indemnity No. 8118-54-04-06 is attached hereto as a permanent part hereof. 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: Section 1. That there is hereby authorized to be issued replacement bonds to replace the Bonds and lost coupons. Said replacement bonds and the interest coupons appertaining thereto shall be in the same form and in all respects of like tenor and effect as the Bonds, and the interest coupons appertaining thereto, except that such replacement bonds and the interest coupons appertaining thereto shall be signed manually, or in facsimile, as provided by law, by the proper officials holding office at the time of their issuance, and that no interest coupon shall mature prior to May 1, 1983. 3 Section 2. That said replacement bonds shall be dated November 1, 1982, which is the date of the Bonds. Section 3. That said replacement bonds and all interest coupons appertaining thereto shall have the letter "R" 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 her, to deliver said replacement bonds to the Attorney General of Texas for examination and approval. After approval by the Attorney General of Texas, said 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 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 number shall be preceded by the Letter "R.'0 The Comptroller shall date his registration certificate as of the date of registration of the replacement bonds. 4 Section 5. That all provisions of the ordinance passed by the City Councils of Dallas and Fort Worth on November 17, 1982 and November 23, 1982, respectively, authorizing 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 sets 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 separate counterparts are duly executed by each City, the ordinance shall be i:n full force and effect. Mayor of the City of Fort Worth, Texas 5 ATTEST: City Secretary of the City of Fort Worth, Texas APPRO~IED AS TO FORM AND LEGALITY: City Attorney of the City of Fort Worth, Texas APPRO~IED AS TO FORM: City Attorney of the City of Dallas, Texas PASSED: , 1989 CORRECTLY ENROLLED: , 1989 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 certify as follows: Board, hereby 1. That the Board of Directors of the Dallas-Fort Worth International Airport convened in Regular Meeting on the 7th day of February, 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 persons were present, except the following absentees : -~ o t~ , 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 WOR'~H 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 "Aye." 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 are the duly chosen, qualified and acting officers and members 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 6252-17, 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 7th day February, 1989. --~--'. .~--~ Secret Chairman (SEAL) 2 RESOLUTION N0. APPRf~~~`TNG 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 1982A, BOND NUMBERS 4965 THROUGH 4970) 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 11Cities°') have heretofore entered inta 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 Bonds, Series 1982A, in the aggregate principal amount of $157,000,000; and WHEREAS, six bonds of the above described Series of bonds, to-wits Bond Numbers 4965 through 4970 in the denomination of $5,000.00 acid bearing interest at the rate of 10.20$ per annum, payable semiannually on each November 1 and May 1 (Interest Coupon No. 1 and subsequent coupons appertaining thereto unpaid), and maturing November 1, 1997 (the "Bonds"), are outstanding and unpaid; and WHEREAS, an affidavit in due form verified by Steven M. Iorio, Assistant Vice President of Kidder, Peabody & Co., Incorporated (the "Owner"), together with a letter of Mr. Iorio, to the effect that on or about April 27, 1988 it was discovered that all coupons appertaining to the Bonds were missing and presumably lost from the premises of the Owner and could not be found after a diligent search thereof, have 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 Alumbers R-4965 through R-4970 of the Dallas-Fort Worth Regional Airport Joint Revenue Bonds, Series 1982A, in the aggregate principal amount of $30,000.00 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 t® 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 1982A Replacement Bond. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE DALLAS-FORT WORTH INTERNATIONAL AIRPORT BOARD: 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 1982A, Bond Nos. 4965 through 4970)" be and the same is hereby in all respects approved by the Board substantially in the form and substance attached Thereto 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 Exhibit A and said City Councils are hereby requested to so do. 2 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 practicable date. r { 3 dinance by said this Board are steps as may be accomplish the the earliest MA9fER fILE•1 ACCOUNTING 2 ~~~/' Of ~~~~ ~®~~ ~ ~~~~~ TRANSPORTATION~PUBLIC WOR~,(/~~®~ ~~~ ~®~~~? ~J ~®~~~~~ ^~~= ®~ MATER ADMfNISTRATION { ~\\\\VV''//llllL/1/ ~(pbtl/v 'lwl `~j/' ,~ WNid' DATE REFERENCE SUBJECT CONCURRENT ORDINANCE OF THE CITIE PAGE NUMBER pF FORT WORTH AND DALLAS AUTHORIZING 2 5-16-89 **G-8043 L EMENT 1°r BONDS AND INTEREST COUPONS TO REPLACE DALLAS-FORT WORTH REGIONAL AIRPORT JOINT REVENUE BONDS (SERIES 1982A) 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 November 17, 1982, and November 23, 1982, authorized the issuance of and sold their Dallas-Fort Worth Regional Airport Joint Revenue Bonds, Series 1982A, in the aggregate principal amount of $157,000,000, dated November 1, 1982. The six following bonds of the above-described series of bonds are outstanding and unpaid: ---- Bond Nos. 4965 through 4970 in the denomination of $5,000, and _ bearing interest at the rate of 10.25 percent per annum, payable semi-annually on each November 1 and May 1 (Interest Coupon No. 1 and subsequent coupons appertaining thereto unpaid), and maturing November 1, 1997 (the "Lost Bonds and Coupons"). An affidavit in due form verified by Steven M. Iorio, Assistant Vice President of Kidder, Peabody & Co., Incorporated, the owner of such bonds, together with a letter of Mr. Iorio, to the effect that on or about April 27, 1988, it was discovered that the bonds had been lost from the premises of the owner and coul d not be found after a di 1 igent 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 Worth International Airport. At the time, the loss occurred, Coupon, No. 1, coming due on May 1, 1983, and subsequent coupons were attached to:the bon:ds., and therefore neither said coupons nor any subsequent coupons, have been presented for payment. Kidder, Peabody & Company, Inc., as principal, and Federal Insurance Company, as obligor, have posted a bond of indemnity to indemnify the Dallas-Fort Worth International Airport Board, City of Fort Worth, City of Dallas, Morgan Guaranty Trust Company of New York, MBank Dallas, N.A., and First Republic Bank Dallas, N.A., from any and all claims, actions or suits, and any and all costs and expenses, ,together with reasonable attorneys' fees, that may be caused by the issuance of replacement bonds and coupons to replace the Lost Bonds and Coupons.y~ This indemnity bond is on file with the Director of Finance of the ,Dallas-Fort Worth International Airport. ~ 4 ._,.. . _ a .~ , ~ ~ ,. t DATE REFERENCE suB~ECT CONCURRENT ORDINANCE OF THE CITI S PAGE NUMBER OF FORT WORTH AND DALLAS AUTHORIZING 2 _ 2 f 5-16-89 **G-8043 THE k ~':~ BONDS AND INTEREST COUPONS TO REPLACE '=`~~'~~ DALLAS-FORT WORTH REGIONAL AIRPORT JOINT REVENUE BONDS (SERIES 1982A~) The Dallas-Fort Worth International Airport Board by Resolution adopted on February 7, 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 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 and be the sole liability of Kidder, Peabody & Co., 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 IIPPROYED BY CITY COUNCIL ~~~ xs ~~ l~ ~a~,,. ~~ s~~t~y ~ ma City of Fort Wostb. T~teIN SUBMITTED FOR THE CITY MANAGER'S OFFICE BY David Ivor DISPOSITION BY COUNCIL. ^ APPROVED PROCESSED BY ORIGINATING ^ OTHER (DESCRIBE) DEPARTMENT HEAD: Wade Adki nS CITY SECRETARY FOR ADDITIONAL INFORMATION Ado CONTACT W Adkins 7623 ttd Ordenance No. ~~,~„ DATE.