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HomeMy WebLinkAboutOrdinance 6636 ORDINANCE NO. AN ORDINANCE AMENDING ORDINANCE N0, 66252 PASSED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS, PROVIDING FOR THE ISSUANCE OF $10,765 ,000.00 OF CITY OF FORT WORTH, TEXAS, REFUNDING BONDS, SERIES 1972B WHEREAS, on the 9th day of February, 1972, the City Council of the City of Fort Worth, Texas , passed Ordinance No, 6625, authorizing the issuance of Refunding Bonds of the ' City, pursuant to Article 717k-3 of Vernon' s Annotated Texas Civil Statutes ; and WHEREAS, in order to accomplish said refunding, it now appears that additional statutory authority wif ll be utilized; and WHEREAS, said Ordinance No, 6625 should be amended; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS : Section 1, That Ordinance No, 6625 is hereby amended so that the last "WHEREAS" of the preamble of said Ordinance shall be and read as follows: "WHEREAS, the City will issue these Refunding Bonds pursuant to Articles 717k and 717k-3 of Vernon' s Annotated Texas Civil Statutes ; and "NOW, THEREFORE," Section 2, Section 12 of Ordinance No. 6625 is hereby amended to be and read as follows : "Section 12. That the Comptroller of Public Accounts of the State of Texas is hereby authorized and directed to deliver bonds hereunder to the holder or holders of all of the warrants described in the preamble, except Warrant No. 10, i r E authorized by Ordinance No. 6385 on November 9, 1970, in exchange for and upon surrender and cancellation of a like principal amount of said obligations being so refunded. That the balance of said bonds are hereby sold and shall be delivered to The First National Bank of Chicago, Chicago, Illinois , for the price of par and accrued interest to date of delivery, plus the proportionate part of the premium paid for said bonds. The amount of the obligations being refunded hereby in excess of = the amount of refunding bonds herein authorized shall be paid by the City of Fort Worth in cash to the holder of the obliga- tions being so refunded. From the proceeds from t e sale for cash herein provided and from other funds now on hand and law- fully available for such purpose, there shall be deposited with the State Treasurer of the State of Texas the amount of money necessary, under Vernon' s Article 717k, to accomplish the refunding of said Warrant No, 10." Section 3. That the City hereby covenants that the proceeds from the sale of the Bonds will be used as soon as practicable for the purpose for which the Bonds are issued; that such proceeds will not be invested in any securities or obligations except for the temporary period pending such use; and that such proceeds will not be used directly or indirectly so as to cause all or any part of the Bonds to be or become "arbitrage bonds" within the meaning of Section 103 (d) of the Internal Revenue Code of 1954, as amended, or any regulations or rulings prescribed or made pursuant thereto. Section 4. That all other provisions of said Ordi- nance No. 6625 are hereby in all things ratified and affirmed as originally passed. Section 5. That this ordinance shall take effect and be in full force and effect from and after its passage and it is so ordered. Section 6. That it is hereby officially found and determined that the meeting at which this ordinance was passed was open to the public , and public notice of the time, place and purpose of said meeting was given, all as required by Vernon' s Ann. Civ. St. Article 6252-17 . MayorVf the City of Fort Worth, Texas ATTEST:ATTEST: City Secretary of the City of Fort Worth, Texas APPR VED AS TO FORM AND LEGALITY: .0�'o 10570 City 17torncKy of the City of Fort Worth, Texas ` THE STATE OF TEXAS COUNTY OF TARRANT CITY OF FORT WORTH I, Roy A. Bateman, City Secretary of the City of Fort Worth, in the State of Texas, do hereby certify that I have compared the attached and foregoing excerpt from the minutes of the regular, open, public meeting of the City Council of the City of Fort Worth, Texas , on the 6th day of March A.D. , 1972,. and of Ordinance No. which was duly passed at said meeting appearing in the minutes of said meeting in Minute� Book , at pages through , inclusive, 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 March, 1972, City Secretary of the City of Fort Worth, Texas (SEAL) rY • THE STATE OF TEXAS COUNTY OF TARRANT CITY OF FORT WORTH On the 6th day of March, 1972 , the City Council of of the City of Fort Worth, Texas , convened in regular meeting with the following members present, to-wit: R. M. Stovall, Mayor, Jess M. Johnston, Jr, , Taylor Gandy, John J. O 'Neill, Ted C. Peters, Councilmen, Leonard E. Briscoe, Pat Reece, W. S. Kemble, Jr. , Margret Rimmer, Rodger N. Line, City Manager, S. G. Johndroe, Jr, , City Attorney, Roy A. Bateman, City Secretary, with absent, with more than a quorum present, at which time the following, among other things , was transacted, to-wit: Councilman introduced an ordinance and 11moved that it be passed. The motion was seconded by Councilman The ordinance was read by the City Secretary, The motion, carrying with it the passage of the ordinance, prevailed by the followizig vote : AYES : Mayor R. M. Stovall and Councilmen Johnston, Gandy, O'Neill, Peters , Briscoe, Reece, Kemble and Rimmer, NOES : None, ABSENT: The ordinance, as passed, is as follows :