HomeMy WebLinkAboutOrdinance 9083,~-_ ~.
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ORDINANCE NO. 9083
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Art ORDINANCE RY T~iE CITY COUNCIL OF TEE CITY OF
FORT PdORTH, TEXAS, APPROVING AND AUTHORIZING THE
GIVING OF AIOTICE OF INTENTION TO ISSUE $29,100,000
"CITY OF FORT WORTH WATER AND SEWER SYSTEDZ
REVENUE BONDS, SERIES 1984A", AND DECLARING AN
EMERGENCY
WHEREAS, the City Council of the City of Fort Worth,
Texas deems it advisable and necessary to issue $29,100,000
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 COLTDICIL 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 23rd day of May, 1984, to pass an
ordinance and take such acticn a.s will be necessary to
authorize the issuance of revenue bonds in the total princi-
pal amount of $29,100,000 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
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 (tall of Fort Worth, Texas, at 3:OC
P.M., on the 23rd day of. Play, 1984, to pass such ordinance
and take such action as may be deemed necessary to authorize
the issuance of "CITY OF FORT WORTH WATER ArID SEWER SI'STEM
REVENUE BONDS, SERIES 1984A", in the aggregate principal
amount of $29,100,000,, for the purpose of providing funds
for improvements and extensions to the City's Water and
Sewer System. Such bonds shall mature seriall~~ over a
period of years not to exceed forty (40) years, shall. bear
a
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interest at such rate or rate`s (not to exceed 15o per annum)
as shall be determined within the discretion of the City
Council, and Ghall be payable cnly from and secured solely
by a pledge of and lien on the net revenues derived from the
operation of the Gaater. and Server System of the City of Fort
6Vorth, 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 24th day of Apr' 1°8
Mayor, City of Fort Worth, Texas
ATTEST:
City Secretary, City of Fort YJorth, Texas'
(CITY SEAL)
Section 2. Such notice shall be published once a week
for two consecutive weeks in a newspaper published and
having general circulation in the City of Fart 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.
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 public peace,
property, health and safety that this ordinance become
effective immediately upon its passage, and it is so
enacted.
PASSED this 24th day of April, 1984.
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~. „Y ~ ~ Bob Bolen, Nayor, City cf
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~,, ;' Fort Worth, Texas
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f'fa,,Rutr Alexand`er~; City Secretary
f~,~`C,~'~ty:~of:~=fortWorth, Texas
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ROVED~~A.S' T F`O A D LEGAhITY:
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Wade Adkins, City Attorney
City of Fort Worth, Texas
~~~+' ~ ~Cit~ of Fort worth, texas
AE fER FILE 1
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DATE REFERENCE SUBJECT Ordinance Approving and Authoriz g PAGE
~'UBLIC.WDRKS•~
4/24/84 NUMBER
G- 5974 Givin of Notice of Intention t0 Issue
g onds-
1
r;,;- Water and Sewer S stem 1 of
It is recommended that t
he City Council adopt the attached ordinance i~
approving and authorizin g the giving of notice of intention to issue
$29,100,000 City of Fort Worth Water and Sewer System Revenue Bonds,
Series 1984 and declare an urgent necessity to issue bonds as soon as
possible.
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Attachment I
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F APPROVED BY
CITY COUNCIL I
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SUBMITTED FOR THE
CITY MANAGER'S
DISPOSITION BY COUNCIL.
PROCESSED BY
f1FFICE BY ^ APPROVED
ORIGINATING David A Ivor
y ^ OTHER (DESCRIBE)
DEPARTMENT HEAD: CITY SECRETARt
FOR ADDIfIONAI INFORMA ION
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CONTACT avi Ivory EXt. D
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