HomeMy WebLinkAboutOrdinance 9826~ ~ ,.F ~y
ORDINANCE NO. 9 ~d (o
AN ORDINANCE BY THE CITY COUNCIL
FORT WORTH, TEXAS, APPROVING AND
GIVING OF NOTICE OF INTENTION TO
"CITY OF FORT WORTH WATER AND SE'
REVENUE BONDS, SERIES 1987", AND
EMERGENCY
OF THE CITY OF
AUTHORIZING THE
ISSUE $17,000,000
iVER SYSTEM
DECLARING AN
WHEREAS, the City Council of the City of Fort Worth,
Texas deems it advisable and necessary to issue $17,000,000
in revenue bonds to provide funds for improvements and
extensions to the City's Water and Sewer System, such
revenue bonds to be payable from and secured by a lien on
and pledge of the revenues derived from the operation of
said System; and
WHEREAS, it is now proper for this Council to give
notice of intention to issue such revenue bonds in the time,
form and manner provided by law; therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH:
Section 1. The City Secretary is hereby authorized and
directed to cause notice to be published of this Council's
intention to meet on the 11th day of March, 1987, to pass an
ordinance and take such action as will be necessary to
authorize the issuance of revenue bonds in the total princi-
pal amount of $17,000,000 for the purpose of providing funds
for improvements and extensions to the City's Water and
Sewer System. The notice to be published (the form and
.r, r'? '
content of which is hereby approved) shall read substan-
tially as follows:
"NOTICE OF INTENTION '.CO ISSUE REVENUE BONDS
"NOTICE IS HEREBY GIVEN that the City Council of the
City of Fort Worth, Texas, will convene at its regular
meeting place in the City Halal of Fort Worth, Texas, at
12:00 noon, on the 11th day o:E March, 19$7, to pass such
ordinance and take such action as may be deemed necessary to
authorize the issuance of "CI'CY OF FORT WORTH WATER AND
SEWER SYSTEM REVENUE BONDS, SERIES 1987", in the aggregate
principal amount of $17,000,000, for the purpose of provid-
ing funds for improvements and extensions to the City's
Water and Sewer System. Such bonds shall mature serially
over a period of years not to exceed forty (40) years, shall
bear interest at such rate or :rates (not to exceed 15o per
annum) as shall be determined within the discretion of the
City Council, and shall be payable only from and secured
solely by a pledge of and lien on the net revenues derived
from the operation of the Water and Sewer System of the City
of Fort Worth, Texas. The holder of such bonds shall never
have the right to demand payment out of any funds raised or
to be raised by taxation and said bonds shall not be a debt
of the City of Fort Worth, Texas.
"GIVEN by Order of the Council of the City of Fort
Worth, this 17th day of February, 1987.
ATTEST:
Mayor, City of Fort Worth, Texas
City Secretary, City of Fort Worth, Texas"
(CITY SEAL)
Section 2. Such notice shall be published once a week
for two consecutive weeks in a newspaper published and
having general circulation in the City of Fort Worth, Texas,
the date of the first publication of such notice to be at
least fourteen (14 ) days prior to the date stated in said
notice for the passage of the ordinance authorizing the
issuance of the revenue bonds.
•.
i b` 3'
Section 3. By reason of the urgent necessity to issue
bonds as soon as possible to e~:nable the City to proceed with
needed improvements and extensions to the City's Water and
Sewer Sytem, an emergency is hE~reby declared to exist making
it necessary to the preservation of the public peace,
property, health and safety that this ordinance become
effective immediately upon its passage, and it is so
enacted.
PASSED this 17th day of February, 1987.
Bo Bo en, ayor, y of
Fort Worth, Texas
ATTE5
R th Howa , ity Secretary
City of Fort Worth, Texas
ROVED AS TO ORM AN ~,EGALIT'Y
Wade Adkins, City Attorney
City of Fort Worth, Texas
.. ~.-.,
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THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF FORT WORTH .
I, Ruth Howard, City Sec:retary of the City of Fort
Worth, Texas, do hereby certify that I have compared the
attached and foregoing excerpt from the minutes of the
regular, open, public meeting of the City Council of the
City of Fort Worth, Texas held on February 17th, 1987, and
of Ordinance No. l which was duly passed at said meeting.
and that said copy is a true and correct copy of said
excerpt and the whole of said ordinance.
In testimony whereof, I have set my hand and have
hereunto affixed the seal of said City of Fort Worth, this
17th day of February, 1987.
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Cit -Secretary of the City of
Fort Worth, Texas
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~PV°',di`~'~ REFERENCE SUBJECT Ordinance Approving and Auth- ~ PAGE
NUMBER
2/17/87 orizing Giving of Notice of Intention lot 1
G-6960 to T~c»c Rn„A~-Ll~ter ~nA Cn..m~- Cvctnm
Recommendation
It is recommended that the City Council adopt the attached ordinance
approving and authorizing the giving of notice of intention to issue
$17,000,000 City of Fort Worth Water and Sewer System Revenue Bonds, Series
1987, and declare an urgent necessity to :issue bonds as soon as possible.
A~~av~~ BY
CITY CCUI~CIL
~~ ~~ ~~~~
~ ~~~
Csty Seoretazg of the
Cite of Fort Worth, Texas
SUBMITTED FOR IMt
GITY MANAGER'S •~ ~ ~~ DISPOSITION BY COUNCIL.
OFFICE BY '~ ~ ~ C PROCESSED BY
.~'_ APPROVED
ORIGINATING i ~ [ OTHER tDESCRIBE)
DEPARTMENT MEAD A J. Bdlliff
CITY SECRETARY
FOR ADDITIONAL J,[VFO~ook°N 8325
CONTACT t A~~® ~@tl ® ~ ATE