HomeMy WebLinkAboutOrdinance 1236 The City Goimell of the City of :'ort "orth met
in re&ular session in t1le Council Chamber at the City Hall
at 9.-30 Tuawlay the 26th clay of April) �.. D. 1927,
and Upon roll call the followirg; Frere present : Th. Bryce,
Mayor, -.41lard. Burton, A. R. Thomas, R. T* Ilienfro, 'h. '."'onnigr,
Austin, John N. Sparks, and VanZandt Jarvis, C oimc;i 1m,en,
canstitutiiv;; a quorum qmd majority of w-.dd Board and I. L.
Van Z`andt, Jr. , City Secretary-'treasurer was in attendance at
acid m. eeting, and the follo,,,ing proceedirv.--s
among
other thin:.-,-a
were had and done:
Coimcilnan "l."homas, seconded by Cotmellman Yonnig,
the adoption of the followint-11, Ordinance :
ORDINANCE NO. 1236
A'AN AIMBIG OMINAWH BOt, 1210 tVND
ID INUT TH3 STJBSTITUTION 0 ' p 030000
'ORTH- op UITT QF !,,'OIIT WORTH TTUS ]IMICIM
BONS `31 IER 1i . 1927.
3 , IIS #45, DAM M, ff
NOS. �Odi TO WOO IMTLUSIVE IN LI3U 6F AN
S�U.AL A1100T QP BJW _F&P1R3T6?CW, ArMORIZ-311) TO
BE ISSUED BT ORDINATIR NO. 1210 AM rROVM-
SU&STITUTT) B01"U)S I I L� I TV-
I',',TG THAT M, -�Tl ALL 113 SAI
hrj
Ti'v'133T AT THEM RATE OP POM AND ON33-PaTm
PER CS11T PER ANNW PM TRAT M ADgQUA713 U.
LUT SHALL BE MADE FOR ME PfiT1!-Xm OP THE
WT ON SAID BONDS AND TO C-11-CAT-9 A 9INKUrl, rM
FOR THE PAW7MT OP TFR P300 r!.L TIR,1127MAP AS
MI SANE SAID�.B
WT 'riIING THAT ONDS SHALL BE RtdIR&W AS TO
It"RINO IPAL ON THE BOOIM OF THE CITY SROMNIAff-
TIrRAM, 1H JUN D PROVIDING FOR THE SURrUDER AND
CANCULATION OF ALL B0111I)S AUTHORIZED TO BE I973TM,
BY ORDINANCE NO, 1210. AM PROVIDING FOR MIE 113-
PEAL OF 'LL T"WISIONIS CONTAUM, IN SAID 0MINANCE
IN DIRWT OCKAIC'U' WITH THE PROVISIONS OF MIS
ORDINANCE AND THAT ALL OTHT,313 PROVISIONS TO RINAIN
IN FM ?ORCR AND EPPECTo
BE IT ORD¢JIISD BT THE CITY COT FGIL 0Y '.M CITY OP
F013T 7ORTH:
THRr under prpcesdings heretofore duly
ma legally had :.and adopted by the City Council of the City
of Port Worth, 'exas, bonds, of saaid City to the amount of
six hundred T'housaind Dollars ($6002000.00) desigmati-vd muni-
cipal bonds, 1)eries Y145, dated February 1, 1927, numbered
from two thous-111ad and one (2-001) to twenty-six hundred (n-wo)
inclusive, of the denumination of Ote Thousand I)ollars ( A000100)
eac}i bearing, interest- at the rate of Pour and Ocie-h, if per
cent (4%) per annum, payable saP.iiv,.TmuAlly August lat vnd Pdb-
ruary 1-st respect `,.Aly and maturing- serit-,lly in U-MerieLl order
as follows**
'if teen Thoys,-,,md Dollars (15 G00.0f)) on February
lst) %��-f eact-L of the years i t 1565 both inclu-
sive; sixteen lhoujwAd Dollairis 00000) on
February 1st, of each of the years 1936-to 1939
1 oth- ipolu2ive; m4 1,eventean Thousand Doll,,xs
%
17 000.00) on Ilebruary lst, of each of the years vto 1967 both inclusive,
have been authorized to be issued anal sold, but not delivered;
a nd
TMITREAS., the -purclra.asers of said bonds n-ad the City
To e
Council of the City of Port ' rth dem it ,:Ase and exp diont
to issue a like mount of bonds and have said bonds substitu-
ted for the bonds heretofore authorized to be issued by Ordin-
't(4,
once T 06 162110o and which bonds are described in the preceAng
paragraph and toJ, provide that 'he a, substituted bonds sffin.11
bear interest at the rate of Four and One-1101-wth (4-'i'l per cent
per annum
$ 0 --end ,)f rour and One-half (4j%) yer cmt per annim,
lnb,.
- d. as to principtl oiL "he
sand that said bonds. shall be nk,istere
books of the City -',ecratary-?rea,,;,Vr ere
B3 IT M.I .RTIM ORDAIM'.P BY TITTIl CITY 0 OUM IL OF MR
CITY OF 15-0116 '70RM:
II
S30 Is
That the !�L&.Yor and the City Secretary-Treastror
of the City of Fort Texas, be and they are hereby
authorized to have printed and prepared Six Hundred Thousand
Dollars ($W0,0!,')0.G0) worth of City of Port `,'orth, jeXass
municipal bonds, aeries 4-45, dated -'ebruary 1, 19Z1, matur-
February Ist of each of the years 1932 to 1935 both in—
cl-asive, Piteen thousand Dollars ( _y15,0040) ; Pebruary Ist
of each of the years 1:-363 to 1939 'both inclusive, Sixteen
Thousand *Dollalrs GAG 000.00) , and rebruary 1st o.-A-. each of the
years 1940 to 1967 both inclusive, Seventeen 7hous-and Dollars
($17 000.00) , 'in denominaLions of One Thousand Dollars Ct.I)
$ "I 10W.U0)
each baa.-int inteream Pt the rate of Four and One-fourth (41,
percentper innim, payable semiannually :'august 1st and Pe'brwWy-
lot, vadth necessary coupons to be thereto attaohed representing
interest to accrue upon said bonds hereafter, said bonds and
coupons to be printed in all revyv*cts in the sz!-._�ie farm as the
bonds described in Ordinance No. 1210 and in lieu Find in substi-
tution of which they are authorized to be issued e;mert that said
Bonds may be registered as to principal on the boalks of the City 9e-
cretary-Trea.,,-,urer., after Vhich they Y411 be trzmsferable only
upon presentation to the City '-3ecre tar rTreaq urer kith a written
assi'g=elft duly acknawled:.,ed or approved at which time the wume
of the e�- I
he assir.Tee -uill be entered thereon !nd in the I-ooks ke- t
P
for that purpose in thle office of the City Secretary-Treasurer,
md such bonds, after beiw,, proporly printed and prepared with
� the necessary couy*as thereto attached, shall be executed by the
Mayor and city 3ecretarr"Ereaswor acting for and on beh-alf of
the City of IC"ort ".,Iorth, Texas, and shall have the facsimile sig-
natures of the Y,.,ayor wul City Secret ar y-Troasurer affixed
to the coupons to be attached to said bonds, Which facsimile
signatures are hereby adopted as and for P, due and sufficient Paa—
thentication of said coupons and the corporate sea- 1 of the
City or Tort "Torth shall thereupon be affixea to said, bmds.
That the general fom of said bonds �zmd the cou-
pons thereto ex94 and the interest to be added to saia
bonds shall be executed in substantially the following f0m,
t t
NO, 2U01 TITITIM AT33
OF =RICA
STATE OF Tom, C0 OF MIRLIT
QMH3S 145
Water and Sa:i tart' Sewer bond of the City of Pbrt ':"Torah issued
for the purpose of improving and extending; the -Water
and Sanitary ;ewer System of the City
of 'cart .°Iorth.
KT) ' ALLMBY' TQMPME . S:
That the gover=ent of the City of Fort �;earth, a,
nun.icip€l corporation, duly croated under the laves of the °Itpte
of Taxes, hereby ack-nowled,es itself to owe y'or value re-
ceived promises to pay, to bearer,
0143 TIOUSOD DOLUM (41000000)
in !awful money of the United States of .America, on the let dt y
of Yebruary, A. D. 1932, to ether with interest thereon at the
rate of Four, and One-fourth (41%) per ce nttam. r6ew ami n, Payeb le
semiannually on the lst dsy, of M4ust and February, in each -Tees,
on presentation ind surrender of the annexed interest nou ions,
as they sevenal.ly fa,11. due. Both the princiT.ml and interest- of
this 'gond are payable at the office of the Hanover 17,9 tional Bank,
in Now "fork City, 71, y., and for the due and ptuiutual patent of
this bond at the matia.rity thereof, and the interest. thereon, when
t falls due# the full faith, credit -,tnd, resources of the City of
Fort forth are hereby irrevocably pledged.
This bond is aas of a series of six hzmdre� (600)
bonds Tciu.iuere� consecutively from two thousand and one (W. 01)
to t-wen-16ji-six hundred. (20300) inclusive, each of the denomina-
tion of Orne 1Fjaouwwd. Dollars ($1,000.00) , ::amounting in the ag-
gretate to the sum of Six Huadred ThousAnd Dollvrs ( &oo.000,00)
issued for the purpose of improving send extendinq,,, the vat,)r and
saai Lary sever system of the City of Fort 'North, imder zind 'by
virtue uf the �`onstitution and laws of the State of Texas, the
Charter of the City of part ;'north, ordinances of the Gity
Counuil of the Oity law'Lully passed and adopted on the 28th day
md ItIrle 26th day' of April, �n�. TD. 19,217,
of 4�eaeiaber,, A. D. 19 6, ,
pursuv.nL to valid authority frm the property tax payine,
fied voters of said City, at a proper and legr-1 election held
on t:Le '4th day of N,ovember, A. D. 1925.
It is hereby J)trther expressly represented, recited
and covemanted by the gvvetnment of the City of Port leorth, to
and with each mid every holder of said bonds or any one of them)
that all acts) conditions and things required by the laws of the,
State of Texas, and of the Charter and Ordinances of the City of
Port Worth, precedent to and in the issuance of t1iis bond, have
beon done, have happened, and have been perfozTaed la proper and
lawful time farm rind manner as prescribed by lav so as to make
aw.
li.7-
ation of the City of
this bond a legal binding and valid b _
Port Worth, and that provision has been made for the lever and col-
x,
lee Lion of a direct annue,l tax on all 41 aable property in the City
of Port -7orth, rind siz-k d that ch tax has 'bean n a levied isufficient
amount for 4-he paynent of the principf,,l and interest of this bond
at Lhe respectire maturity dates thtereof, and that the tot ,l in-
debtednesz* of said City, ineltiding 'this, bend, end the isnie ^f
which it i.- a component part, Goes not exceed any constitutional
or statutory limitation.
IN TV)Tr�ONT 'MR"EOPt the City of `Fart `forth, in
the Mate of Texas, has executed this bond by causing it to
be signed. by its 11_e,.yor and attestod by the City �Iecretary-
Treacurer, with tie seal of the City thereunto duly impressed
encs has caused the amexed interest courons to be eXecilted, with
the facsitAle si6aiature of the Mayor and Clity "ecretary-17'rea-
surer, and Wed as the Ist day of Pebruary, A, D. 1927.
CITY OF Par, '70RM1 MINAS
AT',"LC7
Bayo r
Ulty secretaFy-I'Rasixer
I E 1`3 M, zk T I a),'T C I ff 12 LO IL T B
This bund may be registereul as to principal on the
books- of tLe City SecIretary-Treaiurer after *ieh it will be
transferable only upon presantation to the City Secrei.-ary,-Trqa-
surer viith a written asci 6mment duly acknovledged or approved
at wh lion je-, tine t-1a nme of the assiGmee will be entered Iere
and in t1ie -ticks kept for that purpose in tile ofZiae of Lhe City
Secretary-Treasurer.
leer efary-7reaM77rer'
re& he ris ered
-rnw s&ieg NOTE)
NO. 2001
The f!141--T of -ort TTorfh 1xi the lltslte of Texa.",$
Promises to ony to beare., "N'Ti3nty-one `)ollars 1-1rd NTcnty%,-f1, Ve
Cents ($21,125) , on the 1st clay of Al. ust, �% 1). 192? U t 1,h in
Al V
Hanover Wational Bank in the City of New York, Y,v for
interest due that b)y onAts munluipe-1 bond dated 'Tabruary
lit, 'At. TD. b271 2001.
CITY' 07 MMIT 70,11TRIV TIECAS
MTENST
City IWMUFTFegs7xer
330TICST He
That the bcnas referred to in the rreGedin6, Para-
graph of this Ordiname, shall be issued by t1he City of '-ort
Torth, Texas, in lieu of -,!d in si;L IW111-ution for municipal
bonds, 'Series _!`45, bearing; the some date, numbors a.-nd tiat-ari*-
ties heretofore authorized to be is,,-*Wed v,nd which bunds will
be surrendered by tine holder for c�,neellation.
Thnt for the pur--,posa of creating a zdnkinfund for
'ad caii-plete extingniis 6M of I-lo fbre,,oing, bonded
',A.e ' D zie,, t al sbri u il
and till seed' every -,�&rt of orn- e
debt, prinaipal nw!'d. interest,
there is hereby levied and there shall lk as,.-iessedl and collected
as provideu by law set apart 1-1,,.Id a-p-prorrilcited for the said pur-
pose an direct, specinl advaloror, tax for 1I.-he year 1"2
and ever- successive year th.ereai'ter during the life of said
bonded fiebt, or any part 'thereof of 2.62 cents (or s,lxh an amount
as may be necessary vind adequate, be it wore or less) to pay the
interest on s.-hid bonds nv.Lurinr, in such year and to pa Twelve
Thousand Dollars '(; 12)000.00) of the principal of such bonis or
the amunt of s�.Oi bonds maturing in ,slash year and n-t otherwise
idet
provi 1, for, which ever may be greater on every One 1.1-7,ndred Dol-
lars ($100.00) of -oroperty valuation, real, perooawll x'Iaid mixed
subject to taxation and not exempt therefrom under the Gonstitu-
tion. and laws of the Mate of Texas, situated rnd owned in t1le
City of Port ""orth on t1le 1st day of Jan-'Ary, A. D. 1777, nd on
the 1st day of January of each year thereafter until said debt
represented by snircoupon interest notes shall have been duly
,,nd if, Fit any time, such tax should be insufficient, then
it shall. be the (!uty of the City Council or tnny other governing
to set apart ond appropriate such
body of "-.he City of Port 7-1forth,
z ditiom.il amount of money out of the general revenues of the
id
said City, as nay be requisite to supply the deficiency until all
interest shall have boon -pail and the sinkiN_�, fund established as
required by the Oonstitution of the ;hate :)f Texas 4na the
Charter of the 0ity of Port Worth.
SHOTION IV*
That it shall be the fluty of the City Council of
the City of 'Fort and its successors, iFnd of the govern-
ment of the City of Fort ?;orth by avying taxes for genc!rnl
)ixposea for the said. City of 'Fort -"or th for tha -,,,-oar 19,27
-.nd for evai:rj successive year during the life of -.!,id bonded
lett or any part there: f, to include in such levy the special
tax of 2.62 cents on the One ?hundred Dollars 1$100000) pro-
perty valuation (or so much thereof as may be rel7ait-Ate and
necessary) , provided for in the next preceClin� sec Uon o-.,'L this
Ordin.t_ns.ce �a-id -Suoh s-,)ecical tu.,. shah on no acGount wh.,-�,two ever
be displ.-iced therefrxa.
3XTION VO
That ti,* new bads 11.o, be praparad and by the
Mayor and City SecretarrTreasurer of the City of Port ''Ilorth,
Texasc,,) schfall be subuitted to the .fit toinney ^Xener,--,l of State
of -A.;exas, for his i�pproval, together with .9, certified co?,,)y of
this Ordinttnco -nd such substituted bonds shall thereafter be
xiU j' itte ' to the 'Joaptrolljr ofu
i 17 the lzcounts of the AvAe of
texas, for reiistration, Lut I.- not be reSistered by him =til
the bonds authorized to be is;ated by Ordinanc.e ',-'I,o. 1210 have been
submitted to him for cancellation and 1-1vore bei _n duly cancelled.
Sir'LlION Vi.
That the substituted bonds hercin referred to, altar
being; ibily executed by the Mayor and City qacretar-
y-Treasurer
of the City of Fort W-vor:111 Texas and approv3d by th3 Attorney
General of the 3tate of Texas ,imd re.T_--.isterect by the Comptroller
of Public Accounts of the ;'tate of Texas$ shall be the acts,
deeds and obli,,,,atioas ,-)f the Cit-7 of Port 'forth ii-non the ctancel-
lation by the Comptroller of Public Accounts of Ue sate of
Texas) of the bmas authorized to be ismed by Ordinance 11,10,
BTTIOIT VIIW
That this Ordinano-e shall be and is hereby decl,-.red
to be mi� amendmunt to Ordinance Io. r,,10 and ,31tall n,�t oparato
to repeal nor a2t'eat that ord' int-neep oxcopt to thu ext unt that
the provisions of this ordinaxwe ia,--y be in (Urect with
certain provisions of the said Ordinaries N'o. L?10 mid in which
evs-r,L zu-ich provIsions, ar-W wrc r �3%,prssoly repealed.
That tlliis Or6.1nmou ihe-11. t-ke ef�*ect and be in full
:'ores from and date of its -p,rDvage and it is so (,)r-
APPIROUD AS TO '?0IM:
y 7.7-orney
M,-yor %n. Bryce, presid.inr_, at said meeting- submitted
the mctior to ado- �nce anct L
'pt said Ordin, -,ill of the Councilmen
includin_,,, the 17aryor, voted "aye" therE.IUR, Md I'Lorle Voted ' no",
and the motion p to d.opt '11he ordin.,--ince was decd.=red to be imani-
mously passed.
3U,T] OF T27 !3-
COMITY OF TAREANT
L. Tan lumdt, Jr. , Ui.ty Secretary,-Treasurer of
IjjVt e
the City of Port forth, do IlerebLI y cerci I 4-1-,I above end
fore,rboirk,y- ordinance is n true -and correct copy of Cr(` -i-nee
1 in4
No. and was -an"nnimously passed by the City Coiurcil of the
City of 'Port Worth, Texas, at a regular meeting held in the
Council Chmiljer at the City En-11 on Tuesday 26ti, aay of April,
SITNMOS my L-nd at Fort North, Texca-is', L"di
day of, k. Do 19^71
'jity