HomeMy WebLinkAboutOrdinance 3312 ORDINANCE NO. e 31o2/
AN ORDINANCE PROVIDING FOR TEE ISSUANCE OF NEGOTIABLE COUPON BONDS
OF THE GOVERNMENT OF THE CITY OF FORT WORTH, TEXAS, AMOUNTING TO THE
PRINCIPAL SUM OF FOUR HUNDRED AND SEVENTY-FIVE THOUSAND DOLLARS
(+75,000.00) OUT OF AN AUTHORIZED ISSUE OF EIGHT HUNDRED THOUSAND
DOLLARS ($800,000.00) WORTH OF SAID BONDS, AND BEING KNOWN AS SERIES
88 AND DESIGNATED AS "INCINERATOR BONDS," TO BE ISSUED FOR THE PURPOSE
OF MAKING PERMANENT CITY IMPROVEMENTS BY CONSTRUCTING, BUILDING AND
EQUIPPING ADDITIONAL INCINERATORS FOR SAID CITY AND ACQUIRING THE
NECESSARY LANDS THEREFOR FOR SAID CITY, EACH OF SAID BONDS TO BE IN
THE DENOMINATION OF ONE THOUSAND DOLLARS ($1,000.00), TO BE DATED.
MARCH 1, 1955, MATURING FROM ONE (1) TO TWENTY-FIVE (25) YEARS FROM
THE DATE THEREOF, THE FIRST TWO HUNDRED AND EIGHTY-FIVE THOUSAND
DOLLARS ($285,000.00) WORTH OF SAID BONDS TO BEAR INTEREST AT THE
RATE OF FOUR PER CENT (4%) PER ANNUM, THE NEXT SEVENTY-SIX THOUSAND
DOLLARS ($76,000.00) WORTH OF SAID BONDS TO BEAR INTEREST AT THE
RATE OF TWO AND ONE-HALF PER CENT (2-1/2%) PER ANNUM, THE NEXT THIRTY-
EIGHT THOUSAND DOLLARS ($3$,000.00) WORTH OF SAID BONDS TO BEAR IN-
TEREST AT THE RATE OF TWO AND SIXTY-HUNDREDTHS PER CENT (2.60%) PER
ANNUM, THE NEXT THIRTY-EIGHT THOUSAND DOLLARS ($38,000.00) WORTH OF
SAID BONDS TO BEAR INTEREST AT THE RATE OF ONE-HALF PER CENT (1/2%)
PER ANNUM, AND THE NEXT THIRTY-EIGHT THOUSAND DOLLARS ($38,000.00)
WORTH OF SAID BONDS TO BEAR INTEREST AT THE RATE OF ONE-QUARTER PER
CENT (1j4%) PER ANNUM, SAID INTEREST BEING PAYABLE SEMI-ANNUALLY,
THE INTEREST TO BE EXPRESSED IN COUPON NOTES ATTACHED TO THE BONDS;
DIRECTING THAT THE SAID BONDS BE EXECUTED BY THE MAYOR AND CITY
SECRETARY; PROVIDING FOR AN ADEQUATE TAX LEVY FOR THE PAYMENT OF THE
INTEREST ON SAID BONDS AND TO CREATE A SINKING FUND FOR THE PAYMENT
OF THE PRINCIPAL THEREOF AS THE SAME MATURES FROM TIME TO TIME; AND
PROVIDING THAT THIS ORDINANCE SHALL BE IN FORCE AND EFFECT FROM AND
AFTER THE DATE OF ITS PASSAGE.
WHEREAS, on the 15th day of August, A. D. 1951, pursuant to the au-
thority vested in said City by Section 19 of Chapter XXV of the Charter
of the City of Fort Worth, adopted by the qualified voters within the limits
of said City on the 11th day of December, A. D. 1924, and the laws and Con-
stitution of the State of Texas, the City Council of the City of Fort Worth,
Texas, by an ordinance of that date, directed the submission to the quali-
fied electors who own taxable property in the City of Fort Worth, Texas,
and who have duly rendered the same for taxation, at an election to be held
in said City on the llth day of September, A. D. 1951, of the right, power
and authority of the City Council of the City of Fort Worth, Texas, to is-
sue negotiable coupon bonds of the corporate government of said City in the
principal sum of Eight Hundred Thousand Dollars ($$00,000.00) for the pur-
pose of making permanent city improvements by constructing, building and
equipping additional incinerators for said City and acquiring the 'necessary
lands therefor for said City; and,
WHEREAS, in conformity with said ordinance, the Mayor of said City
did make proclamation of said election and fixed the date thereof for the
11th day of September, A. D. 1951; and.,
WHEREAS, said election order and proclamation thereof were prepared
and published in the manner and for the time prescribed in said ordinance;
and,
WHEREAS, on the 11th day of September, A. D. 1951, said election
was held in the City of Fort Worth, Texas, at the respective polling places
designated in the election order, at which said election the issuance of
said bonds was submitted as a proposition to the qualified electors of
said City who own taxable property in the City of Fort Worth, Texas, and
who have duly rendered the same for taxation; and,
WHEREAS, the official ballot on said occasion, in conformity with
the ordinance of the City Council hereinabove mentioned and in accordance
with the order of said election, in form and in substance reads as follows:
OFFICIAL, BALLOT
I.
Shull the City of Fort Worth, Texas, through its City Coun-
cil, issue its negotiable coupon bonds in the principal sum of
Twent�-three Million, Four Hundred and Fifty Thousand Dollars
($23, 50,000.00) for the purpose of making permanent city im-
provements by constructing, improving and extending the streets,
thoroughfares and storm sewers of said City, including in such
permanent public improvements the straightening, widening, pav-
ing, grade separation, lighting and drainage of said streets
and thoroughfares, and acquiring the necessary lands therefor,
said bonds being payable serially as may be determined by the
City Council, so that the last maturing bonds shall became pay-
able within forty (40) years from the date thereof bearing
interest at a rate not to exceed four per cent (h%j per annum
from the date thereof, payable semi-annually, and levy a suf-
ficient tax to pay the interest on said bonds and create a sink-
ing fund sufficient to redeem said bonds at the maturity thereof?
FOR the Issuance of Street Improvement Bonds.
AGAINST the Issuance of Street Improvement Bonds.
II.
Shall the City of Fort Worth, Texas, through its City Coun-
cil, issue its negotiable coupon bonds in the principal sum of
One Million, Seven Hundred and Fifty Thousand Dollars ($1,750,-
000.00) for the purpose of making permanent city improvemeats
by establishing, equipping, extending and improving municipal
airports and landing fields for airplanes, aircraft and other
aerial machines, and acquiring the necessary lands therefor,
said bonds being payable serially as may be determined by the
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 four per cent (4%� per annum
from the date thereof, payable semi-annually, and levy a suf-
ficient 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 Airport Bonds.
AGAINST the Issuance of Airport Bonds.
III.
Shall the City of Fort Worth, Texas, through its City Coun-
cil, issue its negotiable coupon bonds in the principal sum of
Eight Hundred Thousand Dollars ($$00,000.00) for the purpose
of making permanent city improvements by constructing, build-
ing and equipping additional incinerators for said City and
acquiring the necessary lands therefor, said bonds being pay-
able serially as may be determined by the City Council, so that
the last maturing bonds shall become payable within forty (40)
years from the date thereof, bearing interest at a rate not to
exceed four per cent (4%) 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, Texas, through its City Coun-
cil, issue its negotiable coupon bonds in the principal stmt of
Five Hundred Thousand Dollars ($500,000.00) for the purpose of
making permanent city improvements, to wit, constructing, build-
ing and equipping fire stations and improving and extending the
city fire alarm system, and acquiring the necessary lands there-
for, said bonds being payable serially as may be determined by
the City Council, so that the last maturing bonds shall become
payable within forty (40) years from the date thereof, bearing
interest at a rate not to exceed four per cent (4%) per annum
from the date thereof, payable semi-annually, and levy a suf-
ficient tax to pay the interest on said bonds and create a
sinking fund sufficient to redeem said bonds at the maturity
thereof?
FOR thi Issuance of Fire Protection Bonds.
AGAINST the Issuance of Fire Protection Bonds.
V.
Shall the City of Fort Worth, Texas, through its City CounMOR
-
cil, issue its negotiable coupon bonds in the principal sum of
Seven Hundred Thousand Dollars ($700,000.00) for the purpose
of making permanent city improvements by constructing, build-
ing and equipping a police station and jail building, and ac-
quiring the necessary land therefor, said bonds being payable
serially as may be determined by the City Council, so that the
last maturing bonds shall become payable within forty (40)
years from the date thereof, bearing interest at a rate not to
exceed four per cent (4%) per annum from the date thereof, pay-
able semiannually, and levy a sufficient tax to pay the inter-
est on said bonds and create a sinking fund sufficient to re-
deem said bonds at the maturity thereof?
FOR the Issuance of Police Station and Jail Building
Bonds.
AGAINST the Issuance of Police Station and Jail Building
Bonds.
VI.
Shall the City of Fort Worth, Texas, through its City Coun-
cil, issue its negotiable coupon bonds in the principal sum of
Two Hundred Thousand Dollars ($200,000.00) for the purpose of
making permanent city improvements in providing a recreation
center building, to wit, by constructing, building and equip-
ping a children's museum for said City, and acquiring the neces-
sary land therefor, said bonds being payable serially as may be
determined by the City Council, so that the last maturing bonds
shall become payable within forty (40) years from the date
thereof, bearing interest at a rate not to exceed four per cent
(4%) 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 Children's Museum Bonds.
AGAINST the Issuance of Children's Museum Bonds.
VII.
Shall the City of Fort Worth, Texas, through its City Coun-
cil, issue its negotiable coupon bonds in the principal sum of
One Million Dollars ($1,000,000.00) for the purpose of making
permanent city improvements by purchasing, acquiring and im-
proving land and property for public parks in said City, said
bonds being payable serially as may be determined by the City
Council, so that the last maturing bonds shall become payable
within forty (40) years from the date thereof bearing inter-
est at a rate not to exceed four per cent (4%1 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 Park Bonds.
AGAINST the Issuance of Park Bonds.
VIII.
Shall the City of Fort Worth, Texas, through its City Coun-
ell, issue its negotiable coupon bonds in the principal sum of
Five Hundred Thousand Dollars ($500,000.00) for the purpose
of making permanent city improvements by purchasing, acquiring
and improving the playgrounds and recreation parks of said City,
said bonds being payable serially as may be determined by the
City Council, so that the last maturing bonds shall become
payable within forty (40) years from the date thereof, bearing
interest at a rate not to exceed foup per cent (4%) per annum
from the date thereof, payable semi-annually, and levy a suf-
ficient tax to pay the interest on said bonds and create a sink-
ing fund sufficient to redeem said bonds at the maturity thereof?
FOR the Issuance of Playground and Recreation Park
Bonds.
AGAINST the Issuance of Playground and Recreation Park
Bonds.;
and,
WHEREAS, in the election held in said City of Fort Worth, Texas,
on the 11th day of September, A. D. 1951, on the question of the issuance
of said bonds hereinbefore mentioned, there was a majority of votes in
favor of the issuance of said bonds; and,
WHEREAS, by virtue of said election, said City Council is vested with
power and authority by and from the qualified electors who own taxable
property in the City of Fort Worth, Texas, and who have duly rendered the
same for taxation, to issue said bonds for the purposes aforementioned and
to make same valid and binding obligations of the corporate government of
the City of Fort Worth, Texas; and,
WHEREAS, it is deemed wise and expedient by the City Council of the
City of Fort Worth, Texas, in the exercise of the discretion reposed in it
by law, that Four Hundred and Seventy-five Thousand Dollars ($475,000.00)
worth of said bonds, out of an authorized issue of Eight Hundred Thousand
Dollars ($800,000.00), be issued in bonds at this time, said bonds to be
issued being Series 88 and designated as "Incinerator Bonds"; NOW, THEREFORE,
HE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS:
SECTION I.
That the municipal government of the City of Fort Worth, Texas, is-
sue its corporate negotiable coupon bonds in the principal sum of Four Hun-
dred and Seventy-five Thousand Dollars ($475,000.00), out of an authorized
issue of Eight Hundred Thousand Dollars ($800,000.00), which bonds were au-
thorized to be issued at a proper election held on the 11th day of September,
A. D. 1951, and which bonds are known as Series 88 and designated as "In-
cinerator Bonds"; that the bonds so to be issued shall be in the denomina-
tion of One Thousand Dollars ($1,000.00) each, dated March 1, 1955, the
first Two Hundred and Eighty-five Thousand Dollars ($285,000.00) worth of
said bonds, maturing from 1956 to 1970, inclusive, to bear interest at the
rate of four per cent (4¢) per annum, the next Seventy-six Thousand Dollars
($76,000.00) worth of said bonds, maturing from 1971 to 1974, inclusive,
to bear interest at the rate of two and one-half per cent (2-1/2%) per
annum, the next Thirty-eight Thousand Dollars 038,000.00) worth of said
bonds, maturing from 1975 to 1976, inclusive, to bear interest at the rate
of two and sixty hundredths per cent (2.60%) per annum, the next Thirty-
eight Thousand Dollars ($38,000.00) worth of said bonds, maturing from 1977
to 1978, inclusive, to bear interest at the rate of one-half per cent (1/2%)
per annum, and the next Thirty-eight Thousand Dollars ($38,000.00) worth
of said bonds, maturing from 1979 to 1980, inclusive, to bear interest at
the rate of one-quarter per cent (1/4%) per annum, payable semi-annually
on the first day of September and March of each year respectively, both
principal and interest of said bonds being payable at The Hanover Hank, in
the Borough of Manhattan, City and State of New York, the semi-annual in-
terest being evidenced by interest coupons attached thereto, all of said
bonds to be executed for and on behalf of the City of Fort Worth, Texas, by
the Mayor thereof, attested by its City Secretary, with the seal of the City
thereon duly impressed, but the interest coupons to be executed with the
lithographed facsimile signatures of the Mayor and City Secretary of the City
of Fort Worth, Texas; that each of said bonds and coupons shall be negotiable
and payable to bearer, and said bonds shall be numbered in the way and man-
ner hereinafter set out, so that the last maturing bond shall become payable
within twenty-five (25) years from the date thereof, and the bonds them-
selves, four hundred and seventy-five (475) in number, shall be numbered
consecutively from one (1) to four hundred and seventy-five (475), inclusive,
and shall mature in the amount and manner hereinafter set out; and that said
bonds shall be issued for the purpose of making permanent city improvements
by constructing, building and equipping additional incinerators for said City
and acquiring the necessary lands therefor for said City.
That the general form of said bonds and the coupons thereto annexed
and the interest added to said bonds shall be executed substantially in the
following form:
SECTION II.
That the said bonds so to be issued by the City of Fort Worth, Texas,
amounting to Four Hundred and Seventy-five Thousand Dollars ($475,000.00),
shall be issued for the purpose of making permanent city improvements by
constructing, building and equipping additional incinerators for said City
and acquiring the necessary lands therefor for said City, and shall consist
of four hundred and seventy-five (475) bonds numbered fram one (1) to four
hundred and seventy-five (475), inclusive, and the first Two Hundred and
Eighty-five Thousand. Dollars ($285,000.00) worth of said bonds, maturing
from 1956 to 1970, inclusive, shall bear interest at the rate of four per
cent (4%) per annum, and the next Seventy-six Thousand Dollars ($76,000.00)
worth of said bonds, maturing from 1971 to 1974, inclusive, shall bear in-
terest at the rate of two and one-half per cent (2-1C2%) per annum, and the
next Thirty-eight Thousand Dollars ($38,000.00) worth of said bonds, matur-
ing from 1975 to 1976, inclusive, shall bear interest at the rate of two
and sixty-hundredths per cent (2.600) per annum, and the next Thirty-eight
Thousand Dollars ($38,000.00) worth of said bonds, maturing from 1977 to
1978, inclusive, shall bear interest at the rate of one-half per cent (1/2'x)
per annum, and the next Thirty-eight Thousand Dollars ($38,000.00) worth
of said bonds, maturing from 1979 to 1980, inclusive, shall bear interest
at the rate of one-quarter per cent (1/4%) per annum, payable semi-smually
as aforesaid, all of which said four hundred and seventy-five (475) bonds
shall be known as Series 88 and shall be styled and designated as "Incinerator
Bonds"; and that all of the said bonds, comprising the sum total of Four
Hundred and Seventy-five Thousand Dollars ($475,000.00), shall mature in
numerical order in the manner and amounts as set out in the tabulated state-
ment herewith attached, to wit:
SECTION III.
That the said bonds are hereby authorized to be sold to the best
advantage, but in no event shall same be sold for less than par, and the
accrued interest to the time of delivery and the proceeds thereof to be
placed in the treasury of the City of Fort Worth and utilized for the
special purposes for which they are created.
SECTION IV.
That for the purpose of paying the interest of said bonds, as well
as the various installments Of principal., as the same shall respectively
mature, there is hereby levied for the year 1955 and for each succeeding
year thereafter so long as the same may be necessary, to provide for the
interest and annual installments of principal of said bonds, on all prop-
erty in the City of Fort Worth, Texas, liable to taxation, a straight ad
valorem tax of .68980 cents on the one hundred dollar valuation of said
property, or so much thereof as may be necessary, or in addition thereto
as may be required, and if at any time the amount of said tax shall not
be sufficient to provide for the interest and annual installments of prin-
cipal, it shall be the duty of the City Council to so increase said rate
that an amount shall be realized from said tax sufficient to meet the re-
quirements aforesaid for interest and annual installments of principal of
said bonds; and it is hereby promised and agreed that such increase of tax
shall be made, if required for the purposes named, as often as it may be
necessary. There shall be assessed and collected annually a sufficient
sum to pay the interest on such bonds and to create a sinking fund of at
least two percentum (2%) of the principal debt herein authorized.
SECTION V.
That it shall be the duty of the City Council of the City of Fort
Worth, Texas, and its successors, and of the government of the City of
Fort Worth, in levying taxes for general purposes for the said City for
the year 1955 and for every successive year during the life of said bonded
indebtedness or any part thereof, to include in such levy the special tax
of .68980 cents on the one hundred dollar property valuation (or so much
thereof as may be requisite and necessary, or in addition thereto as may
be required), provided for in the next preceding section of this ordinance,
and said special tax shall on no account Whatever be displaced therefrom.
SECTION VI.
That the special tax hereinbefore provided for, when collected,
shall be placed and kept in a separate fund and shall be devoted to the
payment of the interest and the extinguishment of the principal of all
and singular the bonds hereinabove mentioned as same mature from time to
time, and shall not be used, applied or diverted to any other purpose or
object whatsoever; and the funds derived from said tax shall be held and
listed as a separate account on the books of said City and the proceeds
held and kept by the City Treasurer of said City as a separate and distinct
account and so specified as such on his books.
SECTION VII.
That as soon as convenient after said bonds shall have been prepared
and signed in the manner prescribed by the ordinance, they shall be sub-
mitted to the Attorney General of the State of Texas, together with a cer-
tified copy of this ordinance and a statement of the total bonded indebted-
ness of the City of Fort worth, including the bonds herein and hereby au-
thorized and the assessed value of the taxable property in said City, for
his approval, and none of said bonds shall be negotiated, sold or trans-
ferred until the same shall have received the official sanction of the said
Attorney General as prescribed by law, and thereafter said bonds shall be
placed with the State Comptroller of Public Accounts for registration.
SECTION VIII.
That the City Treasurer of the City of Fort Worth, or other lawful
custodian of such fund, during the months of August and February of each
and every year daring the life of said bonds or part thereof, and not later
than the 25th day of each of said months, shall transmit sufficient money
out of the interest finds hereinbefore created for the payment of the semi-
annual interest accruing on said bonds to The Hanover Batik, in the Borough
of Manhattan, City and State of New York, and likewise proper remittance
NO. UNITED STATES $
OF AMERICA
STATE CF TEXAS, COUNTY OF TARRANT
SERIES 88
C I T Y O F F 0 R T W 0 R T H
--00000--
Incinerator Bond of the City of Fort Worth issued for the purpose of
making permanent city improvements by constructing, building and
equipping additional incinerators for said City and acquir-
ing the necessary lands therefor.
KNOW ALL MEN BY THESE PRESENTS:
That the government of the City of Fort Worth, a municipal corpora-
tion duly created under the laws of the State of Texas, hereby acknowledges
itself to owe, and for value received promises to pay to bearer,
ONE THOUSAND DOLLARS ($1,000.00)
in lawful money of the United States of America, on the first day of
Mauch, A. D. 19 � , together with interest thereon at the rate of
percentum ( %) per annum, payable semi-annually on the first day of
September and March in each year, on presentation and surrender of the
annexed interest coupons as they severally fall due. Both the principal
and interest of this bond are payable at the office of The Hanover Bank,
in the Borough of Manhattan, City and State of New York, and for the due
and punctual payment of this bond at the maturity thereof, and the inter-
est thereon when it falls due, the full faith, credit and resources of the
City of Fort Worth are hereby irrevocably pledged.
This bond is one of a series of four hundred and seventy-five (475)
bonds numbered consecutively from one (1) to four hundred and seventy-five
(475), inclusive, in the denomination of One Thousand Dollars ($1,000.00)
each, amounting in the aggregate to the sum of Four Hundred and Seventy-
five Thousand Dollars ($475,000.00), issued for the purpose of malting
permanent city improvements by constructing, building and equipping addi-
tional incinerators for said City and acquiring the necessary lands there-
for, under and by virtue of the Constitution and lams of the State of
Texas, the Charter of the City of Fort Worth, and an ordinance lawfully
passed and adopted by the City Council of the City of Fort Worth, pursuant
to valid authority from the property taxpaying qualified voters of said
City, at a proper and legal election held on the 11th day of September,
A. D. 1951.
It is hereby further expressly represented, recited and covenanted
by the government of the City of Fort Worth, to and with each and every
holder of said bonds or any one of them, that all acts, conditions and
things required by the Constitution and laws of the State of Texas, and
by the Charter and Ordinances of the City of Fort Worth, precedent to and
in the issuance of this bond, have been done, have happened and have been
performed in proper and lawful time, form 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 Fort Worth,
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
thereof, 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 consti-
tutional or statutory limitation.
IN TESTIMONY WHEREOF, the City of Fort Worth, in the State of Texas,
has executed this bond by causing it to be signed by its Mayor and attested
by the City Secretary, with the seal of the City thereunto duly impressed,
and has caused the annexed interest coupons to be executed with the fac-
simile signatures of the Mayor and City Secretary, and has caused this bond
to be dated as the first day of March, A. D. 1955.
CITY OF FORT WORTH, TEXAS
ATTEST: BY
Mayor
City Secretary
(FORM OF COUPON NOTE)
The City of Fort Worth, in the State of Texas, promises to pay to
Bearer ($ } on the lst day of
19 , at The Hanover Bank, in the Borough
of Manbattan, City and State of New York, for interest due that day on
its Incinerator Bond, Series 88, dated March 1, 1955, and numbered
CITY OF FORT WORTS, TEXAS
BY
Mayor
ATTEST:
City Secretary
(CERTIFICATE OF COMPTROIJM)
OFFICE OF COMPTROLLER,
STATE OF TEXAS.
I do hereby certify that there is on file and of record in my office
a certificate of the Attorney General of the State of Texas to the effect
that this bond has been examined by him as required by law, and that he
finds it has been issued in conformity with the Constitution and laws of
the State of Texas, and that it is a valid and binding obligation upon
said City of Fort Worth, Texas, and said bond has this day been registered
by me.
WITNESS my hand and seal of office, at Austin, Texas, this the
day of , A. D. 19
Comptroller of Public Accounts
of the State of Texas
(CERTIFICATE OF CITY ATTORNEY)
The within bond is hereby approved as to form and legality.
City Attorney
CITY OF FORT WORTH
PRINCIPAL MATURITIES
$475,000.00 INCINERATOR BONDS
DATED MARCH 1, 1955
DUE MARCH 1ST PRINCIPAL MATURING
1956 $19,000.00
1957 19,000.00
1958 19:000.00
1959 19,000.00
1960 19,000.00
1961 19,000.00
1962 19,000.00
1963 19,000.00
1964 19,000.00
1965 19,000.00
1966 19,000.00
1967 19,000.00
1968 19,000.00
1969 19,000.00
1970 19,000.00
1971 19,000.00
1972 19,000.00
1973 19,000.00
1974 19,000.00
1975 19,000.00
1976 19,000.00
1977 19,000.00
1978 19,000.00
1979 19,000.00
1980 19,000.00
thereof as may be requisite and necessary, or in addition thereto as may
be required), provided for in the next preceding section of this ordinance,
and said special tax shall on no account whatever be displaced therefrom.
SECTION VI.
That the special tax hereinbefore provided for, when collected,
shall be placed and kept in a separate fund and shall be devoted to the
payment of the interest and the extinguishment of the principal of all
and singular the bonds hereinabove mentioned as same mature from time to
time, and shall not be used, applied or diverted to any other purpose or
object whatsoever; and the funds derived from said tax shall be held and
listed as a separate account on the books of said City and the proceeds
held and kept by the City Treasurer of said City as a separate and distinct
account and so specified as such on his books.
SECTION VII.
That as soon as convenient after said bonds shall have been prepared
and signed in the manner prescribed by the ordinance, they shall be sub-
mitted to the Attorney General of the State of Texas, together with a cer-
tified copy of this ordinance and a statement of the total bonded indebted-
ness of the City of Fort Worth, including the bonds herein and hereby au-
thorized and the assessed value of the taxable property in said City, for
his approval, and none of said bonds shall be negotiated, sold or trans-
ferred until the same shall have received the official sanction of the said
Attorney General as prescribed by law, and thereafter said bonds shall be
placed with the State Comptroller of Public Accounts for registration.
SECTION VIII.
That the City Treasurer of the City of Fort Worth, or other lawful
custodian of such fund, during the months of August and February of each
and every year during the life of said bonds or part thereof, and not Later
than the 25th day of each of said months, shall transmit sufficient money
out of the interest funds hereinbefore created for the payment of the semi-
annual interest accruing on said bonds to The Hanover Bank, in the Borough
of Manhattan, City and State of New York, and likewise proper remittance
shall be made in due course to provide for the payment of the principal
of any of said bonds in advance of the maturity of same.
SECTION IX.
That this ordinance shall take effect and be in full force and ef-
fect
f-feet from and after the date of its passage, and it is so ordained.
Mayor of the City of Fort Worth, T s
ATTEST:
City Secretary of Me City of
Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
City Attorney of the City of
Fort Worth, Texas