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HomeMy WebLinkAboutOrdinance 1212 The City Council of' the City of Fort 77orth met in regular session in the Council Chap at the City Hall at 9:30 A. M. Tuesday the 28th day of December, A. D. 19261 and upon roll call the following were -[:rcesent : H. 0 . Ileacham Mayor, 7.7illard Burton T. B. 111offer, A. E. Thomas 1.7illiam Bryce E. T. Renfro, TVilliam Monnio- 71. E. Austih, and L. F. CD) Card, Councilmen, constituting a qjtoriva and majority of Board, and I. L. Tran Za-,idt, Jr., City Secretary Treasurer ,7as in attendance at said meeting, and the following noroceeding's among other things were had and done: Councilman Ilonni,-, seconded by Coi.M'Ci]man Austin moved the adoption og the `L"olloTiing Ordinance : 011DITTATUE NO. 1212 MIT ORDINANCE P.TL71DING FOR TH] ISSUANCE OF 111GOTIME COUPON BONDS OF TIE GOTEMrIENT OF THE CITY OF FORT T7011TH 5 J. 77) MTr . SU_ ,M D ARS 1i OTLTT DITG- T 0 TIHE PRITTO IP. ST.7 T OF =i :,E IMTDH, I ' OLL, ,_ _ OTT MOO 000 00 ][N-ADDITION TO TIE] STI OF 7,70 ITTUDRED THOUSAND L000.00� WORTH OF SAID BONDS HERETOFORE I99TMD By THE CI CotfIL Y JDIT"TAITCES DMLY ATM MiGUL-L,"LLY ETTAC TED BY S,',ID CITY COUTCIL PTRSUIG71 TO V-A-LID AUTHORITY VESTED ITT SAID GOT,I,.7', TING BODY Xt A-RIEGULAR _M -PROPER ELECTION HELD ON THE 24TH DAY OF 7, 0114T-ThR A. D. 1925) Y�T)T OF A!T, AUTHORIZED ISSUE, OF FIVE F-71DIED THffN11rD D0!J,,U:0 500 000.00) WORTH OF SAID BCNDS; BEING 122TO77T AS SERIES TSO. 9- 11� DESIT�TATZD AS PARK BONDS TO BE USED FOR ITAKE\TG PER LIMENT 11TPROVE4I]N19 ITT THE CITY OF F6NT_707LUIH BY PURCHASING ACQUIRING -M I77PRO7ING LA.T`DS AND PROT]R71 T-'OR PTT1_:1)LIC PARKS fN SAID CITY ALL OF ' EACH 000.00 ?AID BONDS TO ) BE 17 DENOVIINATION 0. 01TE TTOUSMIN DOLL ARS f"' TO BE ATED MRUARY 1ST A. D. 1927 ITATTJRIT.TG IM ft ,� T17E (5) TO" FOR; fl YEQ9 FROM TIS DATE T- �F Ob BEARINGINTI-KIREST AT TIE R,�- IF F F OM U, ,TD ONE-HALF (42o PER CENT PER IMM PAYABLEgill I-MT14*LLY) THE INTEREST TO BE ]PRESSED ITT COTTON DOTES AT- TACKED TO THE BONDS- DIMOTING THAT TH] SAID BONDS BE EXEC 7TED ri�7 BY THE ATAYOY IL ,UTD C I _ SE'CIRLETARY-TMASURE R AND PjRL07IDITTG FOR AIT ADEQUATE TAX LEVY FOR ME PAS IEUTT OF THE INTEREST OTT SAID BONDS ATTD TO CREATE A SINKING FMTD FOR 111HE P L-MEMI OF ME PRINCIPAL THERE AS M73 S.Al,!E 1TATTMES FROM TRIE TO T17T* IM PRO71DING THAT THIS 6-77DINAN075 SHIT BE IN FORCE AND E'FFJ1,CT �LMAI AT.7D AFTER THE DATE OF ITS PASSAGE, IRFE,PEAS on the 3rd day of November A. D. 19251 ;pursuant to the authority vested in said City by section 19 of Chapter )ET7 of the Charter of the said City of Fort Worth adopted by the qualified voters 1.,�ithiia the limits of said City on the 11th. day of Dece0ber, A. D. 1924, and the laws and Con- stitution of the State of Texas, the City Cotincil of the Citi! of Fort "Jorth, Texas, by resolution and order of that date, directed -the submission to the Property tax paying qualified voters of said City, at an election tobe held in the City on the 24--th day of 11�ovember, A. D. 1925) of the rit%t, power and au- thority of the Gity Council of said City to issue negotiable couT.)on bonds of the corporate government of said City in the principal sm-i of Pive hundred Thousand Dollars (:,'500,000.00) which ;�ao-Lmt was to be used for the purpose of making, perman-ent improvements in said City by purchasing, acquiring, and inprov- ing lands and property for public parks in said City; and MMOAS, in conformity with said resolution and order the Nayor of said City did make proclamation of said election and the date for sane was set on the 24th day of November, A. Do 1925; and IMITEAS, publication was iLiade of said election in the manner and -J'Lor the time 7rescribed in said resolution and elec- tion ordered; and EKE AS) on the 24th day of November, A. D. 1925, said election was held in the City of Fort Worth at the res7 ective polling places designated in the election order, at which said election each issue of -bonds teras submitted as a se-Parate and tistinct pro-position to the voters of said City, the official ballot on i�-,ach election, in conformity with the resolution of the City Council and the order of the election, and Thick re- solution contained other yDrorositions in addition to the one described in this Ordinance, in form snd in substance was as follows: OFFICIAL BALLOT Shall the City of Fort Worth, Texas, through its City Council .::,sue its negotiable coupon bonds , running from five (5) to forty. ( [ * -cars in the principal sum of Three Million Three Hundred Thousand. .,e3,300a0.00.00) Dollars, for the purpose of improving and extending Le water and sanitary sewer system of said City, the first of said orals being payable at the expiration of five (5) years from the da ,hereof, and serially thereafter as may be determined by the said ' ty Council, so that the last maturing bonds shall become payable ,�ithin forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (50) per annum from the date thereo payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Water and Sanitary Sewer Bonds. AGAINST the Issuance of Water and Sanitary Sewer Bonds .- Shall onds .Shall the City of Fort Worth, through its City Council, issue its negotiable coupon bonds , running -from five (5) to forty (40) years , in the principal sum of Two Million Two Hundred Thousand ($212001000.00) Dollars , for the purpose of constructing,, improving and extending the streets, thoroughfares and storm sewers of said city, including in such permanent improvements the widening, paving, grade separation, bridges and drainage, the first of said bonds be- payable at the expiration of five (5 ) years from the date therec ' _.nd serially thereafter as may be determined by the said City Counc.'. so that the last maturing bonds shall become payable within forty ( . ,Tears from the date thereof, bearing interest at a rate not to excee,, five per cent (5%) per annum from the date thereof, payable semi- ,,nnually and levy a sufficient tax to pa the interest on said bona: .1ind create a sinking fund sufficient to r deem said bonds at the ma- turity thereof? FOR the Issuance of Street Improvement B5nds . AGAINST the Issuance of Street Improvement Bonds . III. Shall the City of Fort ;North, through its City Council, issab its negotiable coupon bonds ,. running from five (5) to forty '(40) years , in the principal sum of Seventy-One Thousand ($71,000.00) Dollars , for the purpose of constructing, building and equipping an additional incinerator plant for the City of Fort Worth, Texas , and purchasing the necessary lands and site therefor, the first "of saic' bonds being payable at the expiration of five. (5) years from: the date thereof, and serially thereafter as may be determined by- the said City Council., so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing in-' terest at a rate not to exceed five per cent (5;0) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to ; pay the interest on said bonds and create a sinking fund sufficient : to redeem said bonds at the maturity thereof? FOR the Issuance of Incinerator Bonds . AGAINST the Issuance ,of Incinerator Bonds . IV. Shall the City of Fort Worth, through its City Council, issue its negotiable coupon bonds, running from five (5) to forty. (40) years , in the principal sum of Five Hundred. Thousand ($500,000.00) Dollars , for the purpose of purchasing, acquiring and improving lands , and property for public parks in the City of Fort Worth, the first .off said bonds being payable at the expiration of five (5) years from the date thereof, and serially thereafter as may be determined by the said City Council, so that the last maturing bonds shall become pay- able within forty (40) years from_ the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax nterest on said bonds and create a sinking fund sufficient to re- 'weem said bonds at the maturity thereof? FOR the Issuance of �Iark. Bonds . AGAINST the Issuance of Park Bonds . V. Shall the City of Fort Worth, through its City Council, issue,, cs negotiable coupon bonds , running from five (5) to forty (40) o.rs , in the principal sum of One hundred and SeveAty Thousand ;{:1'70,000 .00) Dollars , for the purpose of purchasing, acquiring and Lnproving playgrounds , athletic fields and other recreation facil- ities of a permanent nature in said City, the first of said bonds ceing payable at the expiration of five (5) years from the date thereof, and serially thereafter as .may be determined by the sr;$d City Council, so that the last maturing bonds shall become payable v,,ith.in forty (40) years from the date thereof, bearing interest at rate not to exceed five per cent (5/) per annum from the date cl:reof, payable semi-annually, and levy a sufficient tax to the interest on said bonds and create a sinking fund .sufficientyto redeem said bonds at the maturity thereof? FOR the Issuance of Recreation Bonds , AGAINST the Issuance of Recreation Bonds . VI . Shall the City of Fort Worth, through its Cit Its negotiable coupon bonds running from five (5) to fortyl(40)ssue rears , in the principal sum Of Eighteen Thousand ($18 Dol- lars , for the ,OOOr00)purpo�e of con� bructirg, building and equippingan ��.ddition to the'. City-County,Hospital in the City of Fort Worth, Texas _ -ho first 'of said bonds bvir�g payable at the _ex T:,ars from the date thereof, and serially thereafterlas may beon of ede- ermined by the said C� tlr Council, so that the last maturing bonds 1:.^11 become payable w3.tliin fort earing interest at a �7a.',e not to exc0eedef Years perrom the date thereof, "rom the date thereof, semi-annually, per cent (5 ) per annum p�:yable and' levy a sufficient <� to pay the interest on said bonds and create a sinking fund suf- 1.cient to redeem said bonds at the maturity thereof? FOR the Issuance Cit`T-County Hospital Bonds , AGAINST the Issuance of City-County Hospital Bonds . VTI. Shall the City of '?ort Vuorth, through its City Council, issue Its negotiable coupon bonds , running from fi�,E� (5) to forty (40) ears , in the principal sam of One Million FoL.r Hundred Thousand hl,400 a 000 .00) Dollars, .for the imroving .:ad extending its systen. cif streets andethorou hfrreslbof y� constructing, � iproving and extendinga new � - �r main ax t.erial street and thoroughfare ;.nning north and south amd a new main arteria" street and thorough- 9 east and wast through said Cit Hent improvements rade . 5 ... inp luding in such per- ;,1 ase of right of way, thy: �fprsttofnsaid ibonds be ng age and the pur- piration of five 5 g Payable at the e ) n rrs from the date . therhof, nd serially there r f,F'ter as may be determined by the said City Coi:t:zcil, so that the last taring bonds shall become payable within forty (40) years from the .. ate thereof, bearing; int,_'rest at a rate not toexceed five per cent 5%) per annum from the date thereof, payable se-mi-annually, and levy sufficient tax to pay the interest on said bonds and create a sink- -ng fund sufficient to red,cern said bonds at the :-naturity thereof? FOR the Issualice of Main Arterl.al Thorougr fare Bonds . r: AGAINST the Issuanc.6 of Main Arteria:L Thoroughfare Bonds . MHEIrSA'S, at the election held. in said "itir on the 24-th day of -T-Tovera'aer, A. Do 1925 there were 2,416 votes in favor of the issuaaice of said Park Bonds and 2,203 votes cast against the issuance of Park fonds, leaving a majority in favor of the issuance of said bonds of 213 votes; and. VMEM,ASI by virtue of said election the said City Council- is vested with power and authority Iby and from t7ae people to issue said bonds for the purpose aforementioned and - -'- P make sane valid and bindinc, obl-I ga,ti s of the corriorate govern- ment of the Gity of Fort Worth; and HEP EAS, -pursuant to the poviTer vested in the City Council, the duly constituted governing bod-y of the City of 4 'Fort 7or-1-h by said el=ection and the laws and Constitution of the State of Texas, tie said City Coi-L-icil did by an ordinance -lawfully passed and adopted on the 29th day of Decel-111-ber A. Do 1925) and v,!hich ordinance was wiiended by an ordinance IV passed and ado,-,ted by the C i tIT Council on the 5th day of JFMuary, A. Do 1926, authorizing- the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting, to the principal sum of One Hundred Thousand Dollars 000.00) , out of an authorized issue oil Five Hundred Thousand Dollars (!3500,000.00) worth of said bcnds, authorized by the property tax paying qualified voters of said City, at said election held on the 24th day of Yovember, A. Do 1925, and being Lonown as Series ;�418 and designated as Park Bonds; and WTEIMS, the said City Counci l, in accordance -,,iith the power vested in said governing body, set forth in the preceding paragraph, did la-i,,ifiLlly pass and. adopt an ordinm'.=e on the 15th day of June, A. Do 1926, autIrlorlizing the issnance of negotiable coupon bonds of the g-overnn-ent of the City of Fort 7orth an-ount- ing to the principal sum of One Hundred Thousand Dollars (Q100,000.00) , in addition to the line Hundred Thousand Dollars (';1001000.00) 700th of said bonds heretofore issued by authority of an ordinance lawfully Illy passed and adopted on the 29th da,), of December D. 1925 and which ordinance was amended by an or- dinance adopted on the 5th day, of January, A. D. 192,R, all of said bonds being issued out of the said aiithorized issue of Five Hundred Thousand Dollars (,()500,000.00) worth of said bonds, au- thorized by the property tax paying qualified voters of said City, at the said election held on the 24th day of 3114overilber, A. D. 1925) and being Imovm as Series IV48 and designated as Par1k, Bonds; and M1,111REA9 it is deemed wvise and expedient by the City U Cou-ncil of the Uity of Fort UorU, in t.Lic., e-,--.ercise of the dis- cretion reposed in it by lays, that ',Three 'Flun-dred Thousand Dollars (-J)300,000.00) -uorth of * said bonds, in addition to the Two Hundred Thousand Dollars ($200,000.00) worth of said bonds heretofore issued out of the issue of Five Hundred Thousand Dollars ("'500,000.00) north of said bonds, be issued in bonds at this tirae, said bonds to be issued being a part of Series 1-48 and designated as Par1c Ponds;L NOW) THEREFG-1-3E) BE 1T 07DA11IED BY 'M CIT"L" COUITCM 07 THE CITY OP FORT 7ORT-77: SECTION I. That pursuant to Section 19 of Chapter ",= of the Charter of the City of port 'Worth, adopted by the qua-li-fied voters within the corporate li,,aits of said City on the 11th day of December, A. D. 10/24r, and the laws and Constitution of ,and pi7xsumt to a vote of 'ul--,e resident the State of Texas, property tax paying voters of the City of Fort 'orth, at an election held in said City for such purpose ort the 24th day of November A. D. 1925 that the municipal governzient of the City of Fort 7orth issue its corporate negotiable co-woon -bonds in the principcal sties of 'Phl.ee Hund-red Thousa-nd Dollars (i")300)000.00) ,. this amount being, in ala'dition to the One R-LmdreE, Thousana. Dol- lars ( j100 000.00) wtorth of said bonds h,;-,,retofore issuell by an oro iname lawfully -igassed and ado- pted on the 29th day 01' December A. D. E,',2215, and 171lich ordinance was amended by an ordinance law- fully passed and adopted on the 5th day of January, A. D. 1926, by the said City Council �md also, in addition -to One Hunt-ed Thousand Dollars (<)100,000.00) worth of said bands heretofore is-Med by an ordinance lawfully passed and adopted on the 15th day of June) A. D. 1926, pursuant to valid authority frori the property tax paying qualified voters of said City, at a proper and regular election on the 24th day of '_'Tove7�ber., A. D. 1925) out of an authorized issue z at said elect inn, of 7,ive Fuildred Thousand Dollars ("'d 500 000.00) worth o--'L-' said bonus and vThich authorized issue is .1aiav-m as Series "fF 4r3' and designateO. as Par!: 41. Bonds, aun nd e bonds so to be issued. shall be in the denomination Ca, of One 71housani Dollars t,) $000.00) each, dated February Ist, 1927 bearing interest at the rate of Tour dna one-half (4"-- per cent per ann7m' 7),_'7,, a'o ,_e semi-annually on the 1st day of Aug-ast mad February of each year .respectively,ively both principal and interest on said bonds payable at the Hanover `Tat Tonal Bank in the City 01 ;,Te-,r York, State of Nev- York-, the interest evi- denced by interest cou-pons attacIied t1riereto, all of said bonds to be eXecuted for and on behalf of t1le City of For'L. "ort'n by the Mayor thereof, attested by its Secretary-Treasurer, with the seal thereon Lily impressed but the interest coupons to be executed -with the lithographed facsimile signature of the T.,Jayor and Secre- tary"Treasu-rer of the City of Fort Worth, each of said bonds and coupon.- shall be negotiable and payal)le to bearer and said bonds ntimbered. in the way aind rriamier herein=after set our, maturing five (5) years from the date tillereof and aimually thereafter until the last maturing _'bonds shall become payable within forty (40) years from the date thereof. That -Lhe general foxya of said bonds and the coupons thereto annexed asd the interest vo be added to said bonds shall c execated in substantially the foliowi .- form, to-it: NO. 'UNI'17ED STATES 1000 OF RJERIC A STATE OF TEY[AS, COUNTY OF TARR9TT SERIES 48 0 1 T Y OF FORT FORTH ---0000000--- Par11--- Bond of the City of Fort 'Worth issued for the pur- pose ,pose of purchasing, proving lands acquiring and improving and property for public parks in the City of Fort Worth. KNOW ALL NETT BY THESE PRESErTTS: the he governnent of the City of Fort North, 11 1 6 C municipal corporation duly created under the laws of the State of Texas, hereby acknowledges itself to owe, and for value received promises to pay, to bearer, OTIE THOTJS-AIT,;D DOLLARS ($1000) in lawful :Honey of the United States of k..ierilca, on the lst day of February, A. D. 1932, together Frith interest thereon at the rate of four and one-half (41 ) per centum per E)MM, payable semi-annually on the lst dray of Atiggist and February in' each year, on presentation and surrender o-I" the annexed interest coupons, as they severally fall due. Both the -orin- cipal and interest of this bond are payable at the office of the Hanover National Bank, in New York City, N. Y., and for the due and n-anctual payment of this bond at the maturity thereof, and the interest thereon, Yrhen it falls due, the full faith., creO,it and resources of the City of Fort North are hereby ir- revocably -pledged. This bond is one of a series of three hundred (300) bonds nmubered consecutively from two hundred and one .(201) to five' hundred (500) incl-asive, each of the denomination of One Thousand Dollars (= 1,000.00) , -r amountingb in the &O­ e- tD- gate to the stun of Three Hundred Thousand Dollars 0;)300,000.00) issued for the purpose of purchasing, acquiring and improv- ing 1,--mds and property for pu1blic parks in the City of Fort L north, under and by virtue of the Constitution and lairs of the State of Texas, the Charter of the City of Fort 'Yorth, and an ordinance of the City Council of said City lawfully passed and adopted or. the 28th day of December A. D. 1926, pursuant to valid authority from the property tax paying qualified voters of said City, at a proper and legal election held on the 24,th day of I'lovember, A. *D. 1925. It is hereby 'further expressly represented, recited and c ovenant ed by theof-Oveimient the City of Fort I'lorth Z' L I to and with each and every holder of said bonds or any one of them, that all acts, conditions and things recjiired by the lavas of the State of Tex-as, ind of the Charter and Ordinances of the City of Fort 71orth, -precedent to and in the issuance of this bond, have been done, have ha13 performed.. pened end have been in proper and 12;U!'Ul tune, f oni and Manner as prescribed by law so as to make this bond a legal binding and valid obligation Of the City of Fort Worth, and that provision has been made for the levy and collection of a direct annual tax on all taxable property in the City of Port north, and that such tax has been levied in a sufficient amount for the payment of the principal and interest of this bond at the respective maturity dates there- of, and that the total indebtedness of said City, including this bond, and the issue of which it is a component part, does not exceed any constitutional or statutory limitation. IN TESTITTO1777,MR-7,01 the city of Fort Worth, in the State of Texas has executed this bond by causing, it to be siZiled.by its Mayor Axid attested by the City Secretary- Treasurer, �7ith the seal of the City thereunto duly im-pressed and has caused the annexed interest cou-pons to be executed with the facsimile sigaia'Mre of the Mayor and City Secretary- Treasurer, and dated as the first day of ", ebriaryD A. D. l-27. THE CITY OF FORT TvORTH, TEXAS Mayor ATTEST: City Secreary-Treasur7r- (FO111 OF 0 OUPOTT NOTE) NO. p22.50 The City of -Fort Worth in the State of Texas promises to -,pa- y to bearer Tt-7enty-two Dollars and Pity Cents (,?322,50) , on the lst day of Au5ist A. D. 1927 at the Hanover National Bank in the City of New York IT. Y. for interest due that day of its mimicipal bond dated Febru,-xy lst, A. D. 1927, and n:Lvabered 201. THE CITY OF F07IU WORTH TEXAS Mayor AT FEST: T 717T 9 e-c-r---e t ary--7Fe-E s iw e r OFFICE OF COMPTROLLER, STATE OF TEXAS. I hereby certify that there is on :"i le and of record in illy office, a certificate of. the Utorney General of the L State of Texas to the effect that this bond has been examined by him as reoaired by law and that he finds it has been is- sued in conformity lith the Constitution and Laws of the State of Texas, and that it is a valid and binding obligation u-Qon sa.-'d City of Fort 17orth, '-Le�:as, and said bond has this day Deer. reJstered by me. TITITIE199 ray hand and seal of office, at Austin, '2 e x,,)s this the day of UoHT-r,=6 .6Fol -Lubilc "-'_0counts_of the State of Texas, TO T I ON IT. T'lic-AG s a, id boners so to 10 e issued by t1e Cita oj,-�, y),-t Worth amount LaL; -'U-o '71—hree 11uncired ThcILSand Dollars ('.�'-MO*000.00) j out o.'.' the said authorized- issue of Pike Hundred Thousand Dollars ($500 000.00) slual.l be --', ssued for the pan-,,o se. of purchasing, acquiring �,,md Lmproving- lcamIs -:md prcp �erty for rablic parks in said City land shall consist of I.-hrec. hundred bonds m&bered two hundred and one (201) to five hzmarsd (500) inclusive, arO. bear at the rate of four and one-hcalf (4 i') per cmt, per amium,9 -payable semi-an-nnallir as afore s�id, all OfC vil-rdioh saic+ -Earee hundred (300) "Oonds Shall be aa part of Series NILS and shall styled on d Ci c s i ggia.111-eL as Par 1- *3 ond-s • 37j,]C"Jojj JIT That all of said 'bc)nds Comprising tile sum total of Three 'Hundred Thousand Dollars (;`p,3001000*Oo) shall mrati.-Ire in the and ammmts, CII S set out ill the 1,Elb-Plated statement lierewith att,,�,.Clhed, to--wit : DAT Y"+^) 1: 'f't" •J�i ,f .�+iMr ,..,�,y� ,, �.. � . r 1,T) t rI 14 XJ . . .. 40I�tn. r yid y. k/ �1 49 50 ra to 52 w ^54 56 all ib ald 90 61� e a w�+y( 1*J� b n SEC TION IV. That the said bcnds are hereby authorized to be sold to the best advantage, but in no event shall s me be sold for less th.,va par and t]aa accrued inte-rest to the time of delive_7, and the proceeds thereof placed in the Treasury of the City of Fort 'Worth and utilized for the Spetial purposes for which such "bonds are crealled. SEC TIOIT V. That for the -purpose of creating- a sinkin,�,- fund for the pa7msient and complete extinguishment of the Foregoing oond- ed debt , principal and interest (and all and every Dart of s_anne there is hereby levied and there shall be assessed ,Uira collected, as provided by 1-mvp set anart and appropriated -'Lcr said purpose, an arnnual, direct , special ad valorem tax for the year 1927 and for each successive year thereafter during the life of said bond- ed debt, or any -oart thereof, -of .1.86 cents (or such an amo-nnt as may be necessary and adequate, be it more or less) on every One hundred Dollars (";3100.00) of pro-Perty valuation, real, personal and mixed , subiect to taxation and not exempt therefrom uuader the Constitution and lavTs of the State of Texas, situated and ovrned in the City of Fort Worth on, the lst day of January, A. D. 1927 and on. the lst dal Of January of each year tliere-after, until said debt represented b7 said binds ana. c,_)apon interest notes shall have been N11v paid, and if, at anti time, such tax should be in- sufficient, then it shall be the duty of the City '001micil or other governing body, of saJd City of Fort '71orth to se' mart and appropriate such additional amomt of money out of the general revenues of said City as may be remisite to supply the deficiency, tint it all interest shall have been paid and the sinking fimd es- tablished as required by the Constitution of the Bta.te of Texas and by the Charter of the City of Fort `,j',,1orth. SECTONVI. That it shall be tli-lel duty of the MY Council of the City of Fort Worth, zand their successors in office) and of the 90ve U'lent of said City o:[ Fort 7orth. in 1vvying, taxes for general purpos-es, in saiC, City for the year 19271 a-ld for every successive year 17-0-in-0, the life of said bonded debt, C) . - or. any part thereof, to include in such levy a special tax of I186 cents on the One Hundred Dollars (,;100X0) -w -perty valuation (or so ranch thereof as may lie req.1aisite and m cessaryl provided for in the next preceding section of this ordinance and such special t-aLr shall on no account whatsoever be displaced therefr7m. SECTION VII. That the special tax hereinbefore provided for, when C0113cted) shall be placed and kent, in a separate fraud and shall be devoted to the pa.� V rent o-.L-' the interest and the extinguishment g of the principal of all and sin .?lar the bonds hereinabove men- tioned, en- tioned, as Za.r,_!e rao.ure from tine to 11, innie) anl shall no% be used, applied or aiverted to any other purpose or object -uliatsciever. SECTION 7111. That as soon as convenient after said bonds sha].1 have been -pre-parefl and si -17 this orOin,,Y-,qce _,mea in the marmer prescribed- b , t., shall., i be salxnitted to the Attorney General of the State of Te:�a,,S, at Austin, together Frith a certified copy of this or- dinance .-nd a statement- oh= the total bonded inCk.ebteckess of the City of Fort wort'11, including the bonds herein anal Thereby authorized I the asTessea value of the taxal-,Ie property in said. Citv ' and il r his approval, tinct none of said 'bonds shall be negotiated., sold or transferred im, 11,il the same shall have received- the official sane- tion of said Attorney General 2 as presscribed. 1)y 1FLY"T thereafter said "bonds shaq ,.l be placed ­4ith the Coyn-rtroller. of P,),IDlic Accounts -for registration. SECTION IX. The city Secretary-Treasuirer of the City of Fort Worth, or other lawful cus-L-,odiaj,_ of si).ch jfrunds, Iurini, the Months o-L' July and January c)--E' each every year, fti-Lring the life 0-f said bollus or an- y -p'art and noi, later than the 20th day of each of said months, shall transmit sufficient money out of the il-ltareSt " I 'Ids hereinbefore create , for the UrL pa,TAent o_E the seidi-awival interest sccr-, Ang on said bonds to the Han.over 17ationGal Eai?,_- 0.-L-' the City Of New Yorl State of New York, Ond likerwilse romittPun-ce shall be made in diuc course to -provide for the payment the princi-oal a ny of said bonds L in adwaice of -U'-he Maturity SEC T 107 X. All oru'inzuices and parts of ordizaances in conflict he r e Twith be and they are hereby expressly re-oealed. SECTION 'XI. The of any section, por-Lior, or -part hereof to be invalid shall not affect the validity of any other section or part of this ordinance, but all s-ach other section , portions, -end?. 1 parts areof shall be and remai.n valid. .'� MOTION XII. That this ordinance shall take effect and be in fu-11 force frcra md after the ft-L-ICe of its passage and it is so or- da in e d m mbam, prooidia,, at 3nid mewiN.,, o P) slubnittel tivi motion �Ixl t Or&"Tw-,ov .,ad all :.)f �.i I&, 1 40 I!Mont Iwlul* V'4a ed "ayo" thFSroon wul no it tho yri(itio."n adopt the Ordiwoo e c.U.,ir i to be wwAimusky -.md adopted. COMM 0-1.1 TATMIX,"To -1. I'le 7wi 7-foadt, Jr,,* , C ity du 40 vif: h 'bovo -.1- v, o1' :.`ort 'Torth, 1mrvoy cor . ,*f the a (a Un&-..-,.Go is & truo cuic.4 oo.r.root oopy of 0,Iql— tIv-,,I; SUM W3 To'soe", and VI J. J the i Ly :,wicil o the "exas,, mooting i I ers a L, the voL the Qwr I ky lall on ?vs)sd,'17, (Laay a t d,w3' the ...day M6.