HomeMy WebLinkAboutOrdinance 9729 CITY OF DALLAS ORDINANCE NO.
CITY OF FORT WORTH ORDINANCE NO.
AN ORDINANCE ADOPTED CONCURRENTLY BY THE CITY
COUNCILS, RESPECTIVELY, OF THE CITIES OF DALLAS
AND FORT WORTH, AUTHORIZING THE ISSUANCE OF
REPLACEMENT BONDS TO REPLACE CERTAIN
PREVIOUSLY DESTROYED, LOST OR STOLEN BONDS AND
ACCOMPANYING COUPONS, ENTITLED "DALLAS-FORT
WORTH REGIONAL AIRPORT BRANIFF SPECIAL
FACILITIES REVENUE BONDS, SERIES 1976," AND OTHER
MATTERS RELATING THERETO
WHEREAS, pursuant to applicable laws, including Art. 1269j-5.1 and 46d
V.A.T.C.S., and a certain contract and agreement, dated as of April 15, 1968 (the
"Contract and Agreement") between the Cities of Dallas and Fort Worth (the
"Cities"), the City Councils, respectively, of the Cities, by an ordinance adopted
concurrently on November 11, 1968, and November 12, 1968 (the "1968 Ordinance")
authorized the issuance of and sold their Dallas-Fort Worth Regional Airport Joint
Revenue Bonds, Series 1968; and
WHEREAS, pursuant to the rights, powers and authorities reserved to the
Cities by Section 8.7 of the 1968 Ordinance, the Cities authorized the issuance of
their Dallas-Fort Worth Regional Airport Braniff Special Facilities Revenue Bonds,
Series 1976 (the "Series 1976 Bonds"), dated August 1, 1976, in the aggregate
principal amount of $35,000,000, numbered consecutively 1 through 7,000, in the
denomination of $5,000 each, maturing serially on the dates and bearing interest
evidenced by coupons at the rates all as set forth in the concurrent bond ordinance
authorizing the issuance of the Series 1976 Bonds (the "1976 Ordinance"); and
WHEREAS, five (5) of the above described Series 1976 Bonds, to wit:
Bonds numbered 5281, 5282, 5283, 5284 and 5285, each in the
denomination of $5,000 and bearing interest at the rate of
8.00% per annum, maturing November 1, 2006, with coupons
attached thereto dated May 1, 1986 through November 1,
2006, both dates inclusive (the "Lost Bonds and Coupons")
are outstanding and unpaid; and
WHEREAS, a sworn affidavit in due form executed by Victor J. D. Moore
stating that the Lost Bonds and Coupons were stolen from Victor J. D. Moore, the
owner of the Lost Bonds and Coupons, has been received and is on file in the office
of the Director of Finance of the Dallas-Fort Worth International Airport; and
WHEREAS, Victor J. D. Moore, owner of the Lost Bonds and Coupons, has
provided acceptable indemnity for the Lost. Bonds and Coupons to each of the Cities,
the Dallas-Fort Worth International Airport Board of Directors (the "Board") and
each of the paying agents for the Series 1976 Bonds; and
WHEREAS, pursuant to Article 715a, V.A.T.C.S., as amended, the Cities are
authorized to issue replacement bonds and coupons for the Lost Bonds and Coupons;
and
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WHEREAS, it is hereby officially found and determined that the meeting at
which this ordinance is passed is open to the public as required by law and that
public notice of the time, place and purpose of said meeting was given in accordance
with Article 6252-17, V.A.T.C.S., as amended.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF DALLAS, TEXAS; AND
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
Section 1. That there is hereby authorized and directed to be issued
replacement bonds and coupons to replace the Lost Bonds and Coupons as described
and defined in the preamble hereto.
Section 2. That the replacement bonds and coupons shall be of like tenor and
effect as the Lost Bonds and Coupons, shall be dated August 1, 1976, which is the
date of the Lost Bonds and Coupons, shall be in the same form as specified in the
1976 Ordinance, and shall bear the same bond and coupon numbers as the Lost Bonds
and Coupons except that each such bond and coupon number shall be preceded by the
letter "R."
Section 3. That the replacement bonds and coupons shall be issued as
authorized by law; and the same shall be executed in the maruier recited in the 1976
Ordinance for the execution of the Series 1976 Bonds, but by the officers of each of
the Cities holding office on the date of the adoption of this ordinance.
Section 4. The Board is hereby authorized and the Chairman and officers and
employees of the Board and of the Cities are hereby authorized and instructed to
make such certifications and to execute such instruments as may be necessary to
accomplish the delivery of the replacement bonds and coupons herein authorized,
and to assure the investigation, examination and approval thereof by the Attorney
General of the State of Texas and their registration by the Comptroller of Public
Accounts in accordance with Article 715a V.A.T.C.S.
Section 5. That after their registration, the Comptroller shall forward the
replacement bonds and coupons to First City Bank of Dallas (formerly Texas Bank &
Trust Co., of Dallas, Dallas, Texas), as paying agent for the Series 1976 Bonds,
which shall thereupon register the replacement bonds and coupons in the name of
the owner of the Lost Bonds and Coupons.
APPROVED AND ADOPTED BY THE DALLAS CITY COUNCIL THIS
SEPTEMBER , 1986.
APPROVED AS TO FORM:
Analeslie Muncy
City Attorney, City of Dallas, Texas
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PASSED:
Mayor, City of Fort Worth, 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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THE STATE OF TEXAS §
COUNTY OF DALLAS §
CITY OF DALLAS §
I, Robert S. Sloan, City Secretary of the City of Dallas, Texas, DO HEREBY
CERTIFY:
1. That the above and foregoing is a true and correct copy of Ordinance
No. , duly presented to and passed by the City Council of the City of
Dallas, Texas, at a meeting of the City Council held on September 1986,
which Ordinance is duly of record in the office of the City Secretary.
2. That said meeting was open to the public, and public notice of the
time, place and purpose of said meeting was given, all as required by Art. 6252-17,
Vernon's Texas Civil Statutes, as amended.
WITNESS MY HAND AND SEAL of the City of Dallas, Texas, the day
of September, 1986.
City Secretary, City of Dallas, Texas
[SEAL]
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THE STATE OF TEXAS §
COUNTY OF TARRANT §
CITY OF FORT WORTH §
1, Ruth Howard, City Secretary of the City of Fort Worth, Texas, DO
HEREBY CERTIFY:
1. That the above and foregoing is a true and correct copy of Ordinance
No. , duly presented to and passed by the City Council of the City of
Fort Worth, Texas, at a meeting of the City Council held September 1986,
which Ordinance is duly of record in the office of the City Secretary;
2. That said meeting was open to the public, and public notice of the
time, place and purpose of said meeting was given, all as required by Art. 6252-17,
Vernon's Texas Civil Statutes, as amended.
WITNESS MY HAND AND SEAL of the City of Fort Worth, Texas, on this
the day of September, 1986.
City Secretary, City of Fort Worth, Texas
[SEAL]
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MAS FER JILE•T i City of Fort Worth, Texas
ACCOUNTING•2 Ma o or and Council Communication
TRANSPORTATIOMIPUBL10 WO 84
NerER DAt� REFERENCE SUBJECT: Concurrent Ordinance of the Citie PAGE
Fri,44k LUKE NUMBER f Fort Worth and Dallas Authorizing the 2
9-30-86 G-6826 ssuance of Five $5,000 Replacement Bonds i or
and Coupons to Replace Dallas-Fort Worth
Regional Airport Bonds (Series 1976)
Recommendation:
It is recommended that the attached concurrent ordinance authorizing
the issuance of replacement bonds and coupons be adopted by the City
Council of the City of Fort Worth.
Background:
Bonds No. 5281, 5282, 5283, 5284, and 5285, in the denomination of
$5,000 each, bearing interest at the rate of 8.00 percent per annum,
maturing November 1, 2006, with coupons attached thereto dated May 1,
1986 through November 1, 2006, both dates inclusive (the "Lost Bonds
and Coupons") are presently due and unpaid. The Lost Bonds and Coupons
are part of a series of Dallas-Fort Worth Regional Airport Braniff
Special Facilities Revenue Bonds, Series 1976, in the aggregate
principal amount of $35,000,000, dated August 1, 1976. Victor J.
D. Moore has filed an affidavit in due form and verified that he was
the owner of the Lost Bonds and Coupons when such bonds and coupons
were lost. This affidavit is on file with the Director of Finance
of the Dallas-Fort Worth International Airport. Victor J. D. Moore,
as principal, and Seaboard Surety Company, as surety, have posted
a lost security bond agreeing to indemnify the Dallas-Fort Worth
International Airport Board, City of Fort Worth, City of Dallas, and
the paying agents 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 replacement bonds and coupons
to replace the Lost Bonds and Coupons. This indemnity bond is on
file with the Director of Finance of the Dallas-Fort Worth Inter-
national Airport.
The Dallas-Fort Worth International Airport Board by Resolution No.
86-208, adopted on August 5, 1986, requested and recommended that
the City Councils of the Cities of Dallas and Fort Worth pass an
ordinance to authorize the issuance of replacement bonds and coupons
to replace the Lost Bonds and Coupons.
It is understood and agreed with the owner of the Lost Bonds and Coupons
that the preparation 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 International
Airport and shall be borne entirely and be the sole liability of Victor
J. D. Moore, the owner of the Lost Bonds and Coupons.
a
DATE REFERENCE SUBJECT: Concurrent Ordinance of the CitiE 8 PAGE
NUMBER
9-30-86 G-6826 of Fort Worth and Dallas Authorizing the 2-.f 2
d
and Coupons to Replace Dallas-Fort Worth
Regional Airport Bonds (Series 1976)
It is the opinion of the Department of Law that all required conditions
precedent 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 the Lost Bonds and Coupons are
ever presented for payment.
WA:dn
Attachment
SUBMITTED FOR TH
CITY MANAGER'S DISPOSITION BY COUNCIL: PROCESSED BY
OFFICE BY: G ❑ APPROVED
ORIGINATING �.� OTHER (DESCRIBE)
DEPARTMENT HEAD: Wade Adkins CITY SECRETARY
FOR ADDITIONAL INFORMATION y�_ /
CONTACT; Wade Adkins 7606 ( "{f✓ DATE