HomeMy WebLinkAboutOrdinance 9613~` P
ORDINANCE NO. ~~
ORDINANCE RELATING TO 'THE SALE OF WATER AND
SEWER SYSTEM REVENUE $OND'S, SERIES 198$,,$16,600,000
WHEREAS, on .February 1.1, 1986, the City Cou'nci
directed, that a notice of intention of the City to sell
$16,600,000 City of Fort Worth,, Texas Water and :Sewer System
Revenue Bonds, Series 1986, be published in a newspaper of
general circulation in the City of Fort Worth, as required
by the laws of the State of Texas and
WHEREAS, pursuant to the direction of the City Council
the City 'Secretary transmitted the notice of intention
approved at said February 11, 1986 meeting to the Fort Worth
Star-Telegram, a newspaper of general circulation in the
City of .Fort Worth; and
WHEREAS, on March 5, 1'98'6 the City Council, pursuant to
the :notice of intention, awarded the sale of its $16,600,000
City o.f Fort Worth, 'Texas Water and Sewer System Revenue
Bonds, Series 1986, to the highest and best bidder; and
WHEREAS, the publisher misprinted the published notice
and the published notice of intention contained an error in
the amount of bonds to be sold by the City, which requires
the publication of a correct notice of intention, in the
manner required by the laws of the State of Texas; and
WHEREAS, said notice has now been corrected and pub-
lisped in the manner required by the laws of the State of
Texas; and
WHEREAS,, said notice provided that the City would meet
on April 1,, 1986 to consider the adoption of this Ordinance;
and
WHEREAS, the consideration of the adoption of this
Ordinance was inadvertently removed from the posted agenda
for the April 1, 1986 meeting of the City Council;; and
WHEREAS, no petition seeking an election on the matter
of the issuance of $16,60U,00'0 City of Fort Worth., Texas
Water and Sewer System Revenue Bonds, Series 198:6 was
received by the City; and
WHEREAS, the City Council .finds it necessary and
advisable to pass this Ordin'a'nce.
NOW, THEREFORE:, BE IT ORDAINED BY T.HE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
Section 1. That the award of the sale of the bonds
described in Ordinance No. 9586 to :Prudential Bache Secur-
ties, Inc.. is hereby confirmed..
Section 2. That Ordinance No. 9586 in all respects is
hereby reaffirmed, approved and again passed, and that in no
manner shall this Ordinance be deemed to have amended,
altered or changed any of the terms, conditions and provi-
sions of Ordinance No. 9586, it being the intent of the City
Council to reapprove .and again pass Ordinance No. 9586 by
the passage of thisOrdinance.
.Section 3. That the adoption of this Ordinance shall
in all respects have the same force and effect as if this
.,
Ordinance had been adopted by the City Council on April 1,
b
1986.
Section 4. That this Ordinance shall become effective
immediately upon its passage.
PASSED this 8th day of A ril, 19'8'6..
Bob Bolen, Mayor, City of
Fort Worth, Texas
AT3'EST :
Rut oward, City Secretary,
City of Fort Worth, Texas
A ROVED AS TO FORM LEGALITY:
r
Wade Adkins, City Attorney,
City of Fort Worth, Texas
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~7'~'"~" REFERENCE SUBJECT PAGE
4/8/86 NUMBER ORDINANCE RELATING TO THE
1
G-6633 SALE OF WATER AND SEWER SYSTEM '°'
---
REVENUE BOND SERIES 1986, 16,600,000
RECOMMENDATION
It is recommended that an ordinance be adopted reaffirming the sale of
$16,600,000 Water and Sewer System Revenue Bonds, Series 1986.
BACKGROUND
Ordinance No. 9570 was adopted on February 11, 1986, relating to the propsed sale
of $16,600,00 0 Water and Sewer System Revenue Bonds, Series 1986. This ordinance
directed the City Secretary to publish a Notice of Intention to Sell, and this
Intention to Sell was published in the Fort Worth Star-Telegram on February 19
and 26, 1986 . Subsequently, it was discovered after publication that the Fort
4Jorth Star Telegram had published a figure of $16,000,000 rather than
$16,600,000. In order to correct the publication error it is necessary to
republish the Notice of Intention to Sell. This was done on P~larch 18 and 25,
1986. An ordinance needs to be adopted to reaffirm the sale of the bonds as
provided in Ordinance No. ,0570.
9
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Attachment
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CITII CflUfl~L
APR $ 8~~6
Kai ~kx~~
Cfity Secsetatcy~ of the,
City of Font Worih,. T®76G~
SUBMITTED FOR IMt
CITY MANAGER'S
DISPOSITION BY COUNCIL.
PROCESSED BY
OFFICE BY 'Lt APPROVED
ORIGINATING [ OTHER (DESCRIBE)
DEPARTMENT HEAD JUdSOn Bdillff CITY SECRETARY
FOR ADDITIONAL IN
CONTACT FORMATION O
J B
i l i f f 81 ° 5 Adopted Ordinance No.
a DATE