HomeMy WebLinkAboutOrdinance 9570
~~
.,
ORDINANCE NO. ~ ~~ ~
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS, APPROVING AND AUTHORIZING THE
GIVING OF NOTICE OF INTENTION TO ISSUE $16,600,000
"CITY OF FORT WORTH WATER AND SEWER SYSTEM
REVENUE BONDS, SERIES 1986", AND DECLARING AN
EMERGENCY `
WHEREAS;, the City Council of the City of Fort Worth,
Texas deems it advisable and necessary to issue $16,600,000
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 5th day of March, 1986, 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 $16,600,000 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
J
content of which is hereby approved) shall read substan-
tially as follows:
"NOTICE OF INTENTION TO 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 Hall of Fort Worth, Texas, at
_.M., on the 5th day of March, 1986, to pass such ordinance
and take such action as may be deemed necessary to authorize
the issuance of "CITY OF FORT WORTH WATER AND SEWER SYSTEM
REVENUE BONDS, SERIES 1986", in the aggregate principal
amount of $16,600,000, for the purpose of providing 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 15~ 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 11th day of Febr ar 1986.
~~~r
,~~ ,~~ Mayor, City of For Worth, Texas
~:P,T<TEST : ~~y- ~ ~f
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of A
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City Secretary;; pity of Fort Worth, Texas'
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;.(CITY SEAL)
,w'yr d
Section '2-1 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.
a`~
PASSED this 11th day of February, 1985.
Bob Bolen, Mayor, City of
Fort Worth, Texas
ATTEST:
Ruth Alexander City Secretary
City of Fort Worth, Texas
A ROVED AS TO FORM LEGALITY:
Wade Adkins, City Attorney
City of Fort Worth, Texas
T pp.
~'
S
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF FORT WORTH
I, Ruth Alexander, City Secretary of the City of Fort
Worth, Texas, do hereby certify that I have compared the
attached and foregoing excerpt from the minutes of the
special, open, public meeting of the City Council of the
City of Fort Worth, Texas, and of Ordinance No. 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
-~~ day of February, 1986:
~~~~
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~ Ci Secretary of the City of
t ~ ~ ~'~~ Fort Worth, Texas
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~1~lj/(.L,d ATE REFERENCE SUBJECT:(~rdl Hance ApprOV~ ng and AuthOri - PAGE
2/11/86 NUMBER zing Giving of Notice of Intention to
G-6574 Issue Bonds-Water and Sewer System t of--1_.__
Recommendation
It is recommended that the City Council adopt the attached ordinance approving
and authorizing the giving of notice of intention to issue $16,600,000 City of
Fort Worth Water and Sewer System Revenue Bonds, Series 1986.
RAP4: kcq
Attachment
RPPROVED 8Y
CITY COUNCIL
FEB 11 la3o
City Secretatg. of the ,~~ ~ ,~
City of i?oxR y$GIL1t~ Tp~~
SUBMITTED FOR THE
CITY MANAGER'S
f1FFICE BY
ORIGINATING
DEPARTMENT HEAD: ,J Ba11 i ff
---
R ADDITIONAL INFORMATION
~Nrncr J Bai 1 i ff 8185
DISPOSITION BY COUNCIL. PROCESSED BY
APPROVED
r OTHER (DESCRIBE)
CITY SECRETARY
Adopted Qrdinance No.. ~ DATE