HomeMy WebLinkAboutOrdinance 9728_~~,~ ,
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CITY OF DALLAS ORDINANCE NO.
CITY OF FORT WORTH ORDINANCE NO. _~~~~
AN ORDINANCE ADOPTED CONCURRENTLY BY THE CITY
COUNCILS, RESPECTIVELY, OF THE CITIES OF DALLAS
AND FORT WORTH, AUTHORIZING THE ISSUANCE OF
REPLACEMENT BONDS AND COUPONS TO REPLACE
CERTAIN PREVIOUSLY DESTROYED, LOST OR STOLEN
BONDS AND ACCOMPANYING COUPONS, ENTITLED
"DALLAS-FORT WORTH REGIONAL AIRPORT PASSENGER
SERVICE SPECIAL FACILITIES REVENUE BONDS, SERIES
1972," AND OTHER MATTERS RELATING THERETO
WHEREAS, pursuant to applicable laws,. including Art. 1269j-5.1 and 46d
V.A.T.C.S., and a certain contract and agreement, dated as of April 15, 1968 (the
"Contract and Agreement") between the Cities of Dallas and Fort Worth (the
"Cities"), the City Councils, respectively, of the Cities, by an ordinance adopted
concurrently on November 11, 1968, and November 12, 1968 (the "1968 Ordinance")
authorized the issuance of and sold their Dallas-Fort Worth Regional Airport Joint
Revenue Bonds, Series 1968; and
WHEREAS, pursuant to the rights, powers and authorities reserved to the
Cities by Section 8 7 of the 196$ Ordinance, the Cities authorized the issuance of
their Dallas-Fort Worth Regional Airport Passenger Service Special Facilities
Revenue Bonds, Series 1972 (the "Series 1972 Bonds"), dated May 1, 1972, in the
aggregate principal amount of $37,500,000, numbered consecutively 1 through 7,500,
in the denomination of $5,00(1 each, maturing serially on the dates and bearing
interest evidenced by coupons at the rates all as set forth in the concurrent bond
ordinance authorizing the issuance of the Series 1972 Bonds (the "1972 Ordinance");
and
WHEREAS, five (5) of the above described Series 1972 Bonds, to wit.
Bonds numbered 4388, 4389, 4390, 4391 and 4392, each in the
denomination of $5,000 and bearing interest at the rate of
6 25% per annum, maturing November 1, 1996, with coupons
attached thereto dated November 1, 1984 through November
1, 1996, both dates inclusive (the "Lost Bonds and Coupons")
are outstanding and unpaid; and
WHEREAS, a sworn affidavit in due form executed by Richard A. Lane
stating that the Lost Bonds and Coupons were lost by Richard A Lane, the owner of
the Lost Bonds and Coupons, has been received and is on file in the office of the
Direetor of Finance of the Da.ilas-Fort Worth International Airport, and
WHEREAS, Richard A. Lane, owner of the Lost Bonds and Coupons, has
provided acceptable indemnity for the Lost Bonds and Coupons to each of the Cities,
the Dallas-Fort Worth International Airport Board (the "Board") and each of the
paying agents for the Series 1972 Bonds; and
WHEREAS, pursuant to Article 715a, V A T C.S., as amended, the Cities are
authorized to issue replacement bonds and coupons for the Lost Bonds and Coupons;
and
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WHEREAS, it is hereby officially found and determined that the meeting at
which this ordinance is passed is open to the public as required by law and that
public notice of the time, place and purpose of said meeting was given in accordance
with Article 6252-17, V.A.T C.S., as amended.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF DALLAS, TEXAS, AND
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
Section 1. That there is hereby authorized and directed to be issued
replacement bonds and coupons to replace the Lost Bonds and Coupons as described
and defined in the preamble hereto
Section 2. That the replacement bonds and coupons shall be of like tenor and
effect as the Lost Bonds and Coupons, shall be dated May 1, 1972, which is the date
of the Lost Bonds and Coupons, shall be in the same form as specified in the 1972
Ordinance, and shall bear the same bond and coupon numbers as the Lost Bonds and
Coupons except that each such bond and coupon number shall be preceded by the
letter "R."
Section 3. That the replacement bonds and coupons shall be issued as
authorized by law; and the same shall be executed in the manner recited in the 1972
Ordinance for the execution of the Series 1972 Bonds, but by the officers of each of
the Cities holding office on the date of the adoption of this ordinance
Section 4. The Board is hereby authorized and the Chairman and officers and
employees of the Board and of the Cities are hereby authorized and instructed to
make such certifications and to execute such instruments as may be necessary to
accomplish the delivery of the replacement bonds and coupons herein authorized,
and to assure the investigation, examination and approval thereof by the Attorney
General of the State of Texas and their registration by the Comptroller of Public
Accounts in~aeeordanee with Article 715a V.A.T C.S.
Section 5 That after their registration, the Comptroller shall forward the
replacement bonds and coupons to MBank Fort Worth, N.A. (formerly Continental
National Bank of Fort Worth), as paying agent for the Series 1972 Bonds, which shall
thereupon register the replacement bonds and coupons in the name of the owner of
the Lost Bonds and Coupons.
APPROVED AND ADOPTED BY THE DALLAS CITY COUNCIL THIS
SEPTEMBER , 1986
APPROVED AS TO FORM:
Analeslie Muncy
City Attorney, City of Dallas, Texas
0058E
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PASSED: ~,~U/~j,
ATTEST•
Mayor, City of Fort Worth, Texas
City Secretary
City of Fort Worth, Texas
[SEAL]
APPROVED AS TO FORM AND LEGALITY:
~a
City Attorney, City of Fort Worth, Texas
0058E
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THE STATE OF TEXAS §
COUNTY OF DALLAS §
CITY OF DALLAS §
I, Robert S. Sloan, City Secretary of the City of Dallas, Texas, DO HEREBY
CERTIFY:
1. That the above and foregoing is a true and correct copy of Ordinance
No. ,duly presented to and passed by the City Council of the City of
Dallas, Texas, at a meeting of the City Council held on September , 1986,
which Ordinance is duly of record in the office of the City Secretary
2. That said meeting was open to the public, and public notice of the
time, place and purpose of said meeting was given, all as required by Art. 6252-17,
Vernon's Texas Civil Statutes, as amended.
WITNESS MY HAND AND SEAL of the City of Dallas, Texas, the day
of September, 1986.
City Secretary, City of Dallas, Texas
(SEAL]
0058E
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THE STATE OF TEXAS §
COUNTY OF TARRANT §
CITY OF FORT WORTH §
I, Ruth Howard, City Secretary of the City of Fort Worth, Texas, DO
HEREBY CERTIFY•
1. That the above and foregoing is a true and correct copy of Ordinance
No. ,duly presented to and passed by the City Council of the City of
Fort Worth, Texas, at a meeting of the City Council held September 1986,
which Ordinance is duly of record in the office of the City Secretary;
2 That said meeting was open to the public, and public notice of the
time, place and purpose of said meeting was given, all as required by Art. 6252-17,
Vernon's Texas Civil Statutes, as amended.
WITNESS MY HAND AND SEAL of the City of Fort Worth, Texas, on this
the day of September, 1986
City Secretary, City of Fort Worth, Texas
[SEAL)
OOSBE
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Ff n~~ DATE REFERENCE sus~ECrConcurrent Ordinance of the Cities PAGE
NUMBER
=~~=may, ~ f Fort Worth and Dallas Authorizing the
~9-30-86 G-6825 ssuance of Five $5,000 Replacement Bonds iof ?
~Arrx' and Coupons to Replace Dallas-Fort Worth
Regional Airport Bonds (Series 1972)
gecommendation:
It is recommended that the attached concurrent ordinance authorizing
the issuance of replacement bonds and coupons be adopted by the City
Council of the City of Fort Worth
Background:
Bonds No 4388, 4389, 4390, 4391 and 4392, in the denomination of $5,000
each, bearing interest at the rate of 6 25 percent per annum, maturing
November 1, 1996, with coupons attached thereto dated November 1,
1984 through November 1, 1996, both dates inclusive (the "Lost Bonds
and Coupons") are presently due and unpaid The Lost Bonds and Coupons
are part of a series of Dallas-Fort Worth Regional Passenger Service
Special Facilities Revenue Bonds, Series 1972, in the aggregate
principal amount of $37,500,000, dated May 1, 1972 Richard A Lane
has filed an affidavit in due form and verified that he was the owner
of the Lost Bonds and Coupons when such bonds and coupons were lost
This affidavit is on file with the Director of Finance of the
Dallas-Fort Worth International Airport Richard A. Lane, as principal,
and United States Fire Insurance Company, as surety, 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 any and all claims, actions or suits, and any
and all costs and expenses, together 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 Inter-
national Airport
The Dallas-fort Worth International Airport Board by Resolution No.
86-207, adopted on August 5, 1986, 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
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 incidental 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 liability of Richard
A Lane, the owner of the Lost Bonds and Coupons
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DATE REFERENCE
NUMBER SUR.IECT Concurrent Ordinance of the Cltle PAGE
9-30-86 G-6825 of Fort Worth and Dallas Authorizing the 2 of 2
and Coupons to Replace Dallas-Fort Worth
' Regional Airpo rt Bonds (Series 1972)
It is the opinion of the Department of Law that all required conditions
precedent to the passage of this concurrent 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
APPROVED BY.
CITY GOUNCIt~
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Citp Seoxetaxy of th~a
City of Font ~'VoxthR TiexGe
SUBMITTED FOR THE
CITY MANAGER'S ~
DISPOSITION BY COUNCIL.
PROCESSED BY
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OFFICE BY
_..i C~ ~I " ! ' ' G ^ APPROVED
ORIGINATING f. ~ OTHER (DESCRIBE)
DEPARTMENT HEAD• Wade Adklns CITY SECRETARY
FOR ADDITIONAL INFORMATION
CONTACT Wade Adkins 7606 Adon ted
N Ordinance Nn
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