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DALLAS-FORT WORTH INTERNATIONAL AIRPORT CONCURRENT
REPLACEMENT BOND ORDINANCE
(SERIES 1972, BOND NOS. 18845 AND 18858)
CITY OF DALLAS ORDINANCE N0.
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 two 55,000.00 replacement bonds
to replace Bond Numbers 18845 and 18858 of Dallas-Fort worth
Regional Airport Joint Revenue Bonds, Series 1972 and re-
solving other matters relating to the subject.
WHEREAS, the Cities of Dallas and Fort Worth by
ordinance passed concurrently on March 6, 1972 authorized
the issuance of and ,sold their Dallas-Fort Worth Regional
Airport Joint Revenue Bonds, Series 1972, in the aggregate
principal amount of $112,000,000, dated March 1, 1972; and
WHEREAS, two bonds of the above described Series of
bonds, to-wit:
Bond Numbers 18845 and 18858 in the denomination of
55,000.00, and bearing interest at the rate of 6.25$
per a-nnum, payable semiannually on each November 1 and
riay 1 (Interest Coupon No. 28 and subsequent coupons
appertaining thereto unpaid), and maturing November 1,
2002 (the "Bonds")
are outstanding and unpaid; and
WHEREAS, an affidavit in due form verified by Henry A.
Williams, Vice President of Merrill Lynch, Pierce, Fenner &
Smith, Incorporated (the "Owner"), to the effect that on or
about March 7, 1986 it was discovered that the bond had been
lost from the premises of the Owner and could not be found
after a diligent search of the Owner's premises, has been
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~~ received and is on file in the offices of the Director of
Finance of the Dallas-Fort Worth International Airport, and
such affidavit has been accepted by the City Councils of
Dallas and Fort Worth as sufficient evidence that the Bonds
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have been lost, within the meaning of Article 715a of the
Revised Civil Statutes of Texas, and a certified copy of
such affidavit is attached hereto as a permanent part
hereof; and
WHEREAS, at the time the loss occurred, Coupon Number
28, coming due on May 1, 1986, and subsequent coupons were
attached to said Bond, and therefore neither said coupon nor
any subsequent coupons have been presented for payment; and
WHEREAS, the owner of said Bonds and appurtenant
coupons desires that replacement bonds be issued to replace
the aforesaid lost Bonds and appurtenant coupons; and
WHEREAS, by Acts 1965 of the 59th 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
issued which are outstanding and which have been destroyed,
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 or destruction of the bonds for which
replacement bonds are being sought; and
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WHEREAS, Bond of Indemnity No. BDFI-11-86-26-919 dated
November 17, 1986, 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 provisions of Article 715a of the Revised Civil
Statutes of Texas, and a certified copy of such Bond of
Indemnity No. BDFI-11-86-26-919 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. 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
official's holding office at the time of their issuance, and
that no interest coupon shall mature prior to May 1, 1986.
Section 2. That said replacement bonds shall be dated
March 1, 1972, which is the date of the Bonds.
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? 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 him, 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 it the same
registration number as the original Bonds except that such
number shall be preceded by the Letter "R". 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 March 6,
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1972 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 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 lost 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 in full force and effect.
Mayor of the City of Fort
Worth, Texas
ATTEST:
City Secretary of the City of
Fort Worth, Texas
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Y a
APPROVED AS TO FORM AND LEGALITY:
City Attorney of the City of
Fort Worth, Texas
Mayor of the City of Dallas,
Texas
APPROVED AS TO FORM AND LEGALITY:
City Attorney of the City of
Dallas, Texas
PASSED: , 1985
CORRECTLY N,'ROLLED: , 1985
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VI aTER AOMINISTRA'TiGN d /[°'~/// 0 ((,+(/ (l,~/ / ~!/1V ~l/ (G((~ U I/ DLO 0 IY wY (/ (!i ll/ WW IV
DATE REFERENCE SUBJECT CONCURRENT ORDINANCE OF THE PAGE
NUMBER CITIES OF FORT WORTH AND DALLAS AUTHO- 2
8-4-87 **G-7163 >. °r
RI INS TH ISSIIAN('F nF TWn g,.5,11(Ln
REPLACEMENT BONDS AND INTEREST COUPONS
TO REPLACE DALLAS-FORT WORTH REGIONAL
. AIRPORT JOINT REVENUE BONDS (SERIES 197?_)
KECOMMENDATION
It is recommended that the attached concurrent ordinance authorizing the issu-
ance- o:f replacement bonds and coupons be adopted by the City Council of the
City of 'F'ort Worth
BACKGROUND
The Cities of Dallas and Fort Worth by ordinance passed concurrently on
March 6, 1972, authorized the issuance of and sold their Dallas-Fort Worth
Regional Joint Revenue Bonds, Series 1972, in the aggregate principal amount of
$112,000,000, dated March 1, 1972 The two following bonds of the above-
described series of bonds are outstanding and unpaid
Bond Nos 18845 and 18858 in the denomination of $5,000, and bearing
interest at the rate of 6 25 percent per annum, payable semi-annually on
each November 1 and May 1 ( Interest Coupon No 28 and subsequent coupons
appertaining thereto unpaid), and maturing November 1, 2002 (the "Lost
Bonds and Coupons")
An Affidavit in due form verified by Henry A Williams, Vice President of
Merrill Lynch, Pierce, Fenner & Smith, Inc the owner of such bonds, to the
effect that on or about 'arch 7, 1986, it was discovered that the bonds had
been lost from the premises of the owner and could not be found after a dili-
gent search , has been received and i s on f i 1 e in the offices of the Director of
Finance of the Gallas-Fort Worth International Airport. At the time the loss
occurred, Coupon No 28, coming due on May 1, 1986, and subsequent coupons were
attached to the bonds, and therefore neither said coupons nor any subsequent
coupons have been presented for payment Merrill Lynch, Pierce, Fenner & Smith,
Inc as principal, and Federal Insurance Company, as obligor, have posted a
lost security bond agreeing to indemnify the Dallas-Fort Worth International
Airport Board, City of Fort Worth, City of Dallas, and the paying agents from
an,y and all claims, actions or suits, and any and all costs and expenses,
toyether with reasonable attorneys' 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
The Dallas.-Fort Worth International Airport Board by Resolution No 87-085,
adopted on April 7, 1987, 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
DATE REFERENCE SU6JECT CONCURRENT ORDINANCE OF THE PAGE
NUMBER CITIES OF FORT WORTH AND DALLAS AUTHO t
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7/29/87 ** _ RIZING THE ISSUANCE F T ot
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REPLACEMENT BONDS AND INTEREST COUPONS
TO REPLACE DALLAS-FORT WORTH REGIONAL
ri AIRPORT JOINT REVENUE BONDS (SERIES 1972)
It is understood and agreed with the owner of the Lost Bonds and Coupons that
the preparation and adoption of the attached ordinance and the performance of
each and every act ordered by such ordinance and any act or expenditure inci-
dental 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 li ability of Merrill Lynch, Pierce, Fenner & Smith,
Inc., the owner of the Lost Bonds and Coupons
It is the opinion of the Department of Law that all required conditions prece-
dent to the passage of this concurrent bond ordinance have been satisfied 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.
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Attachment
APP`ROUED BY
` CITY COUNCIL
AU6 4 1987'
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City Secretary of the
City of Fori Worth, Texas
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SUBMITTED FOR TH ~
CITY MANAGER'S
DISPOSITION BY COUNCIL.
PROCESSED BY
OFFICE BY ^ APPROVED
ORIGINATING ~ f_l OTHER (DESCRIBE)
DEPARTMENT HEAD A J Ba i l i f CITY SECRETARY
FOR ADDITIONAL INFQ MA~IQfI
NTA
T HJ (j~(~ n$ 7623 Adopted Ordinance fla.
DATE
CO
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