HomeMy WebLinkAboutOrdinance 9297.: ..
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ORDINANCE NO. ~~
AN ORDINANCE BY THE CITY COUNCIL
FORT 'WORTH, TEXAS, APPROVING AND
GIVING OF NOTICE OF INTENTION TO
"CITY OF FORT WORTH WATER A'ND SEi
REVENUE BONDS, SERIES 1985", AN.D
EMERGENCY
OF 'THE CITY OF
it1i7THORI Z ING 'THE
ISSUE $43,3.25,, 000
n1ER SYSTEM
DECLARING AN
WHEREAS,. the City Council of the Cty~~of Fort Worth,
Texas deems it advisable and necessary to issue $43,125,000
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,
8E IT ORDAINED 8Y THE CITY COUNCIL OF THE CITY OF FORT
WORTH:
Section i. The City Secretary is hereby authorized and
directed to cause notice to be published of this Council's
intention to meet on the i2th day of February, .198:5, 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 $43,125,000 for the purpose o.f providing funds
for .improvements and extensions to the ('ity's Water and
Sewer System. The notice to be published (the form and
content. of which is hereby approved) shall read substan-
Bally 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, ~.'exas, a~.
10:00 A.M., on the 12th day of February, .1985, to pass such
ordinance and take such action as may be deemed necessary to
authorize the issuance of "CITY OF FORT WORTH WATER AND
SET~7ER SYSTEM- REVENUE BONDS, SERIES 1985", in the aggregai;e
principal amount of '$43,125,000, for the purpose or
providing funds -for improvements and extensions to the
City's Water and Viewer 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 i5% per annum;) as shall be determined within the
discretion of the City Council, and shai3. be payable only
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from and secured solely by a pledge of and lien on the net
revenues derived from the operation o~ 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 ta.xati:on 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 22nd day of January, 1985.
XXXXX
Mayor, City of Fort Worth, Texas
ATTEST.:
XXXX7{
City Secretary, City of Fort Worth, 'Texas"
(CITY SEAL)
Section 2. Such notice shall be ipublished 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 fist 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.
Section 3. By reason of the urgent necessity to issue
bonds as soon as possible to enable the City to proceed with
needed improvements and extensions to the City's Water and
Sewer Sytem, an emergency is hereby declared to exist making
it necessary to the preservation of the pub is peace,
property., health and safety that this ordinance become
effective immediately upon its passage, and it is so
enacted.
PASSED this 22nd day of January, 1985..
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~ Bob Bolen, Mayo City of
;~ ~ ~ ~ Fort Worth, Texas
-.~ AT,T T : ~
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`~.x Ruth Alex~ande , City Secretary
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'..= 4of~; Fort Worth, Texas
`~ -~ A _ .ROVED A5 TO FO ND LEGALITY:
'Wade Adkins, City Attorney
City of Fort Worth,, Texas
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'THE .STATE O.F TEXAS
COUNTY OF TARRANT .
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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 t+hat said copy is a
true and correct copy of said excerpt and the whole of said
~-
ordinance.
In. testimony whereof, I have stet my hand and have
hereunto affixed the seal of said City Hof Fort Worth, this
/p~~~day of January, 1'9'85.
ity Secretary of e City of
- -° ~ _ ~` , Fort Worth,, Texas
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