HomeMy WebLinkAboutOrdinance 145 ORDI2"cE uo.
An ordinance pursuant to Section 1, Chapter 16, of the
Charter of the City of Fort Worth authorizing and requiring
the creation and issuance of One Hundred Thousand 00,000. )
Dollars of the Bonds of the corporate government of the
City of goat Worth, which shall be known as Series 19, North
Fart Wort vs
, all of said Bonds to be in denominations of
One Thousand Dollars each, and bearing interest frau date,
at the rate of Four and One-half per centum per annum, pay-
able semi-annually with coupon interest notes attached.
Whereas, by the terms of Section 1. Chapter 16 of the
present Charter of the City of Fort Worth, enacted by the
Thirty-first Legislature of the State of Texas, power is axd
was conferred and it was made mandatory on the part of the
Hoard of Commissioners of the City of Fort Worth to provide
for the issuance of One Hundred Thousand (100,000) Dollars
of Bonds of the City of Fort Worth during the year 1910,
the proceeds of such Bonds to be deveUd exelusively to the
creation and construction of an adequate Sewer Systdm, the
extension of crater works, the erection of school buildings and
the purchase of all necessary land therefor, in that part of
the City of Fort Worth which is known and which has heretofore
been a part of the municipality of Borth Fort Worth.
AT THMFORE R
HTS IT ORDAINED BY THE BOA ID OF C OULLI SSI ONMS OF THE
CITY OF FORT WORTH:
Section U That the aayor and City Secretary of the City
of Fort Worth be and they are hereby author iced and directed
to prepare and execute, in the name and for and on behalf
of the City of Fort Worth and under its corporate seal
as the act and obligation of said City, Bonds of the
corporate government of said City which shall be known and
denominated as Series 19 "North Fort Worth Improvement Bonds"
of the aggregate prisciipal sum of One Hundred Thousand
floo,000) yollars, and said Bonds shall recite upon their face
the purpoere for which they are issued, and shall refer to the
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provision of the City Charter, and this ordinance as
authorizing same.
This series of Bonds shall consist of One hundred (100)
in number and shall be numbered consecutively from one to
One Sundred inclusive , and each of same shall be of the
denomination of One Thousand 11000 ) Dollars, embracing One
Hundred Bonds, of the par value of One Hundred Thousand
1100,000) Dollars.
All of said Bonds shall be dated the 2nd, day of March
A& D. 1910 and shall be and become payable Forty (40) years
from the date thereof to bearer with the provision, however,
that same shall be redeemable at the expiration of twenty
(20) years from the date thereof, or at any interest paying
period thereafter in which event, interest shall thereafter
cease and the fnterest coupons which shall have not yet
matured, spall be cancelled. Said Bonds shall bear interest
at the rate of four and one-half (4*) per centum per annum,
payable semi-annually, which said interest shall be represented
by coupon notes of Twenty-two Dollars and Fifty cents ($22. 50)
eaoii, representing the semi-annual interest installment
attached to each bond, both principal and interest payable to
bearer at the Hanover bational Bank in the City of New York,
State of New York, in gold coin of the pfesent United States
weight and fineness. All of said Bonds shall be executed in
the name of the City of Fort Worth by the Mayor and attested
by the City secretary under the corporate seal of the City,
save that in the matter of the coupons, the engraved or
lithogra. lied signature of the Mayor and City secretary shall
suffice.
Section 2. Said Bonds shall not be sold less than, par,
and the accrued interest.
Section % In order to provide for the interest on allof
said Bonds, issued under this ordinance and to create a
sinking flund therefor of not lose than TWo (2) per centum per
annum of slam, there is h ere b y levied and same shall be
collected as provided by law, set apart and appropriated for
said purposes, and annual, direct, special ad valorum tax,
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beginning with the assessment and levy for the year 1910,
of One and Four Tenth i 1. 4/10 �) cents on every One Hundred
(100) dollars of valuation on all property, real,personal and
mixed, subject to taxation by the said City of Fort Worth and
the said tax or so much thereof as may be necessary for the
payment of said interest, and the creation of said sinking
fund shall be anivaa,lly assessed, levied and collected during
the life of said Bonds, and if at any time, the said tax
should be insufficient for such purposes, then it shall be
the duty of the Board of Commissioners or other governing
body of said City of Fort Porth to set apart and appropriate
such additional amount of money out of the general revenues
of the City as may be requisite to supply the deficiency
until all interest shall have been paid and a sinking fund
established as required by the Constitution of the State of
Texas, and the Charter of the City of Fort worth.
Section 4. The taxable fund hereinbefore provided for
to cover interest and sinking fund as aforesaid shall be
collected and the proceeds held and kept by the City
Treasurer as a separate and distinct account, and specified
as such, upon his books, and said fund shall not be used
or utilized in whole or in part, except for the purpose
for which it was created, and the Treasurer of the City of
Fort worth shall have no authority to honor or recognize any
check, warrant, draft or order upon such funds, except for the
purpose aforesaid. Provided, however, that the sinking fund
and all accretions thereto may be invested by order of the
Board of Commissioners or other governing body of the City
of Fort worth in bonds of the City of Fort Worth or County
Bonds of the State of Texas, or in Bonds of the United
State s. But same shall not be invested in my other manner
nor shall said moneys be diverted to any other purpose than
*e payment of interest and the creation of the sinking
fund aforesaid.
Section 5, Said Bonds shall not be negotiated nor sold
nor transferred until same shall have been presented to the
Attorney General of the State of Texas , and his official
sanction thereof shall have been maAifested as prescribes. by
a .
UTY .fir P URZ
�WQ•
i ."'" A.
lesue of �;1 ,U�lL! authorized by ordinance ao. Passed
by the Board of Commissioners March let., lrl0.
►. the 2nd, day of -urc1. w 1j. 195,- , for value recaivad
t_,e city of fort ",orth, it the -o,4;ty of 'T arrant and 61 to of
sass, . a :icignl corporation created and duly incorporated IV
s ,ecial, taat of the Le6islaturs a-:d under and by virtue of
V a la.-Oe of . *.he of"Le of 'a ,eA&s, promises to pay to bearer
at the uanover -datioial .L;a:i:c in V-e Cita of }cew York. :tate d
'Yew York, ,no Thousandhollars, with interest thereon represent -
• ed by coupon notes hereto attached, at the rat.o of four and
one-..-If per centum per annusy payable semi-annually on the
of :u'.d aeptember of each and every year on
the presentation a:ld surrender of the respective coupons
hereto annexed as the.; severally become due, both principal rand
i.rtercat payable in gold coin of the United Mates of the
present wei,11A and fineness.
The opti i, is hereby reserved to the said ',:ity of port
"girth to redeem this bond and pay the same at the expiratian
of twenty years from the date hereof, or at _n.; interest
pu�f ia6 period thereafter, ire whiaii event, the interest }person
shall ti.ereafter cease and the interest coupons w:.ioh have
riot ,natured shall us Jelivered up and cancelled.
'hia bond is one of a series of one hundred of like
,.ac.ount, tenor and effect issued for the purpose of borrowiri,;
money, which shall us spent ane devoted exculsively to the
cre :tion add cons :.ruotion of ear adequate sewer sys{,.em* the
exte .z.- on of waterworks. tiA erection of achoal buildings and
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the
2-the purchase of all necessary lands therefor, in that part of
said City of Fort tiorth, which has heretofore been a part of
the munieipality of Borth Fort io rth; pursuant to the pro-
visions of Section 1, Chapter �.YI of the Charter of said
City, granted by :pct of the Thirty-first -.cLisslature of the
.,t"te of Tex", and urdiriance loo of the Board of
-o.:"issionerr of the �itJ of Fort -orth, passed in pursuance
thereof.
And it is hereby certified and recited that all act*,,
conditions and things required to Ue done p,arsuant ' to rzd
in the issuance of this Bond have been properly done,
happened and perforated in regular and due four ve required
by law and that the total indebtedness of said City
includi,4; this bond does not exceed the Constitutional and
5tatuory (imitation.
I- witness whereof, the aaid auvard of of
the C i t j of Yort ,.o rth, Texas, _<.iv8 c z;.0 L.'"' this o r d to us
ni,Lxiea and subucrib zu Ly the <<:Jar "a the corporate act of
the bovernment of said City, attc-oted b; the ity pec rotary
thereof under the seal of the Cit;; hereu-to d!,I:j impressed,
on this the dLy of
Attest:
C ty rstary.
All pi4 to the bearer the sum of Twenty-two Dollars and
Fifty cents on the 2nd, day of beptem°ber A* v. 1910, at the
aiauover -3ational ,bank In the City of ;bow York. Six (6)
months interest on North Fort . o rth Li:provement bond bo.�
beri es 18.
=hest: "For.
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law.
Seo t ion. 6. Tbe City Treasurer of the City of Bort Worth
shall during the months of February and August of each
year, and not later than the 20th, day of each of said
months transmit sufficient moneys out of the interest fund
hereinbefore created for the payment of the semi-annual
interest accruing upon said Bands, to the Hanover National
Bank of New York City, in the State of Now York. tat in the
event that said Bank should be non..existent or go out
of business or fail or refuse to act, then the said moneys
shall be transmitted by the said Treasurer of the City of
Fort Worth, to the fiscal agent of said City, residing in
New York City, State of New York.
Section 7. The proceeds of the Bonds hereinabove
provided for, shall be devoted exclusively to the creation
and construction of an &A*quate sewer system, the extension of
water works, the erection of school buildings and the
purchas a of all n eaessary lands therefor, in that part of
the City of Bort worth which is described in Qhapter 1,
Section 2, of the Charter of said Cityl and which is known,
and has herefbfore been a part of the municipality of
North Fort worth.
Section S. This ordinance shall take effect and be in
force from and after its pa.ssabe as required by law.
I hereby certify that the above and foregoing ordinAnne was
dixly presented end nrianimous Y Passed t, the '3oar4 o+' Cora{
missioners of the City of yOrt Worth at a ses ion of gAid
'Board held Tllesdr tv Marc% 7.,.1910.
_ Olt- � P �rrt,ary• � -
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