HomeMy WebLinkAboutOrdinance 8718r -~, ~.
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CITY OF DALLAS ORDINANCE NO.
CITY OF FORT WORTH ORDINANCE NO ~ 7 l ~'
(Series 1979, Number 13979)
AN ORDINANCE ADOPTED CONCURRENTLY by
the City Councils, respectively, of the Cities of
Dallas and Fort Worth, authorizing the issuance of
one $5,000 replacement bond to replace Bond Number
13979 of Dallas-Fort Worth Regional Airport Ameri-
can Special Facilities Revenue Bonds, Series 1979,
and ordaining other matters incident and relating to
the subject and purpose hereof and declaring an
emergency
WHEREAS, by a concurrent ordinance passed by the Cities of Dallas and
Fort Worth on December 6, 1978 and December 5, 1978, said Cities authorized
the issuance of and sold their Dallas-Fort Worth Regional Airport American
Special Facilities Revenue Bonds, Series 1979, in the aggregate principal amount
of X147,000,000, dated January 1, 1979,
WHEREAS, one bond of the above described. Series of bonds to-wit.
Bond Number 13979 in the denomination of $5,000
and bearing interest at the rate of 7 125% per annum,
payable semiannually on each May 1 and November 1
(Interest Coupon No. 8 and subsequent coupons ap-
pertaining thereto unpaid), and maturing November 1,
2005
is outstanding and unpaid,
WHEREAS, an affidavit in due form verified by deponents, Bobby G. Crow
and Bonnie L. Crow, to the effect that the Dallas-Fort Worth Regional Airport
American Special Facilities Revenue Bond, Series 1979, Number 13979 in the
aggregate principal amount of $5,000 was lost by Bobby G. Crow, the owner of
such Bond, on May 14, 1982, has been received and is on file in the office of
the D~r~ector of Finance of the Dallas-Fort Worth Regional Airport, and such
affidavit has been accepted by the City Councils of Dallas and. Fort Worth as
sufficient evidence that the above described securities have been lost, within the
meaning of Article 715a of the Revised Civil Statutes of Texas, and a certified
copy of such. affidavit is attached hereto as a permanent part hereof,
WHEREAS, at the time the loss occurred, Coupon Number 8 coming due
on November 1, 1982, and subsequent coupons were attached to said security,
and therefore neither said coupon nor any subsequent coupons have been
presented for payment,.
tNHEREAS, the owner of said Bond and appurtenant coupons desires that
a replacement bond be issued to replace the aforesaid lost Bond and appurtenant.
coupons;
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lti'HEREAS, by Acts 1965, of the. 59th Legislature, of the State of Texas,
Chapter 314, commonly known as Article 715a of the Revised Civil Statutes of
Texas, the City Councils of Dallas and Fort Worth are authorized to issue
without an election bonds to replace any bonds theretofore lawfully issued which
are outstanding and which have been destroyed, lost or stolen, provided that such
replacement bonds may be issued only upon indemnification satisfactory to the
issuer and upon an affidavit or other form of evidence satisfactory to the issuer
establishing proof of ownership and the circumstances of the loss, theft or
destruction of the bonds for which replacement .bonds- are being sought, and
WHEREAS, a Bond of Indemnity of State Farm Fire and Casualty
Company being Bond No. 930568168, and executed by Dale Weathers, as
Attorney-in-Fact for State Farm Fire and Casualty Company as Obligor has been
received and is on file in the office of the Director of Finance of the Dallas-
Fort. S~'orth Regional Airport and such Bond of Indemnity is acceptable to the
City Councils of Dallas and Fort Worth as sufficient indemnity under the
provisions of Article 715a of the Revised Civil Statutes of Texas, and a certified.
copy of such Bond of Indemnity No. 930568168 is attached hereto as a permanent
part hereof,
NO~~', THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF DALLAS, TEXAS
NOW, THEREFORE, BE iT ORDAINED BI' THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
Section 1 That there is hereby authorized to be issued one replacement
bond to replace Bond Number 13979 of Dallas-Fort Th'orth P~egional Airport
American Special Facilities Revenue Bonds, Series 1979. Said replacement bond
and the interest coupons appertaining thereto shall be in the same form and in
all respects of like tenor and effect as said Bond Numbered 13979 and the
interest coupons appertaining thereto, except that such replacement bond and
the interest .coupons appertaining thereto shall be signed manually, or in
facsimile, as provided by law, by the proper official holding office at the time
of the issuance, and that no interest coupon shall mature prior to June 1, 1982,
and that only Interest Coupon No. 8 and subsequent interest coupons shall be
attached to sai~ replacement bond.
Section 2. That said replacement bond shall be dated January 1, 1979,
which is the date of the lost bond.
Section 3 That said replacement bond and all interest coupons
appertaining thereto shall have the letter "R" preceding the Bond Number and
following the Interest Coupon Number.
Section 4. That after said replacement bond has been executed, it shall
be the duty of the Chairman of the Board of Directors of the Dallas-Fort Worth
Regional Airport Board or some officer, employee or attorney of the Board
acting through authority from him, to deliver said replacement bond to the
Attorney General of Texas for examination and approval.. After approval by the
Attorney General of Texas, said replacement bond shall be delivered to the
Comptroller of Public Accounts of the State of Texas for registration. The
replacement bond thus registered shall remain in the custody of the Chairman
of the. Board, or subject to his order, until the delivery thereof to the owner of
the original bond being replaced thereby
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Section 5. That the Comptroller of Public Accounts of the State of
Texas is hereby authorized and directed to register the replacement bond in the
same manner as the original bond was registered, giving it the same registration
number as the original bond, except that such number shall be preceded by the
letter "R" The Comptroller shall date his registration certificate as of the date
of registration of the replacement bond.
Section 6. That all provisions of the ordinance adopted by the City and
Councils of the Cities of Dallas and Fort Worth on December 6, 1978 and
December 5, 1978, respectively, authorizing the Series of bonds of which said
lost bond was a part and which are not in conflict with this ordinance are hereby
adopted by reference and shall be a part of this ordinance.
Section 7 That the preparation and adoption of this ordinance by the
City Councils of Dallas and Fort Worth and the adoption of the Resolution
recommending same by the Board of Directors of the Dallas-Fort Worth Regional
Airport and the performance of each and every, all and singular, the acts
ordered hereby and all acts or expenditures incidental thereto shall be at no cost
to the City of Dallas, the City of Fort Worth, or the Dallas-Fort V~'orth Regional
Airport and shall be borne entirely by and be the sole liability of Bobby G. Crow,
the owner of said above described lost bond who has requested the issuance of
the replacement bond as provided herein.
Section 8. That it is hereby found and determined that as to the
matters to which this Ordinance relates are matters of imperative public need
and necessity in the protection of the health, safety and morals of the citizens
of each of the Cities, and, as such, this Ordinance is an emergency measure and
shall be effective as to each City respectively upon its adoption by the City
Council.
Section 9. This ordinance may be cited by the short title "1982
Regional Airport American Special Facilities Concurrent Replacement Bond
Ordinance (Series 1979, No 13979)."
Section 10 This ordinance may be executed in counterparts, and when
duly passed. by both Cities, and separate counterparts are duly executed by each
City, the ordinance shall be in full force and effect.
•PASSED AND CORRECTLY ENROLLED
Mayor,. City of Dallas, Texas
ATTEST•
City Secretary, City of Dallas, Texas
(SEAL]
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APPROVED AS TO FORM
City Attorney, City of Dallas, Texas
ADOPTED
Mayor, City of Fort North, Texas
ATTEST
City Secretary, City of Fort Worth,
Texas
[SEAL] ~
APPROVED AS TO FORM AND LEGALITY
City Attorney, City of Fort Worth,
Texas
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DATE REFERENCE SUBJECT Concurrent. Ordinance of the Cltle PAGE
NUMBER of Fort Worth and Dallas Authorizing th 1
1/25/83 ,. **G-5523 Issuance of one $5,000 Replacement i°r-~___
D FW Airport Bond
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Bond•~No.-..13979 in the denomination of $5,000, bearing interest at the rate of
7.1~25~'peraent per annum, payable semi-annually on each May 1 and November 1
and maturing on November 1, 2005, is presently outstanding and unpaid This
bond is part of a series of Dallas-Fort Worth Regional Airport American Special
Facilities Revenue Bonds, Series 1979, in the aggregate principal amount of
$147,000,000, dated January 1, 1979. Bobby G. Crow has filed an affidavit.in
due form and verified that he was the owner of such bond on May 14,1982, when
such bond was lost This affidavit is on file with the Director of Finance of
the Dallas-Fort Worth Regional Airport. Bobby G. Crow, as principal, and State
Farm Fire and Casualty Company, as surety, have posted a lost security bond
agreeing to indemnify the Dallas-Fort Worth Regional Airport Board, City of
Fort Worth, City of Dallas, and Texas American Bank/Fort Worth, N A. Republic-
bank Dallas from any and all claims, actions or suits, and any and all costs
and expenses, together with reasonable attorneys' fees, that may be caused by
the issuance of a replacement bond or the paying or crediting of the value of
the original bond without surrender thereof. This idemnity bond is on file
with the Director of Finance of the Dallas-Fort Worth Regional Airport.
The Dallas-Fort Worth Regional Airport Board by resolution adopted on November
16, 1982, requested and recommended that the City Councils of the Cities of
Dallas and Fort Worth pass an ordinance to authorize the issuance of a replace-
ment bond for Bond No. 13979.
It is understood and agreed with the owner of the above bond that the prepara-
tion and adoption of the attached ordinance and the performance of each and
every act ordered by such ordinance and any act or expenditure incidental
thereto shall be at no cost to the City of Fort Worth, the City of Dallas or
the Dallas-Fort Worth Regional Airport and shall be borne entirely and be the
sole liability of Bobby G Crow, the owner of the above-described bond
It is the opinion of the Department of Law that all required conditions preceden
to the passage of this concurrent ordinance have been satisfied and that the
lost security bond is sufficient to indemnify the City of Fort Worth in the
event Bond No 13979, or Interest Coupon No 8 coming due on November 1, 1982,
and subsequent coupons are ever presented for payment.
Recommendation
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It is recommended that the attached concurrent or
issuance of a replacement bond be adopted by the City Counc~I~~
of Fort Worth.
JAN ~5 1983
MCM: j c
Attachment
SUBMITTED FOR TH~~
GER'S / L~ ,
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A DISPOSITION BY COU ecxetar of then
,
CIFFICE
0'~t/
BY ~ gPpROVED OY ~OIC FIO; ~ T
ORIGINATING
Wade Adkins r• OTHER (DESCRIBE)
DEPARTMENT HEAD• CITY SECRETARY
FOR ADDITIONAL INFORMATI~~de Adkins Ext 762~DOP
T ED ORDSN'A~CE Np
V ~l DATE
CONTAC ~