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WHEREAS, pursuant to applicable laws, including Article
1269]-5.11 and 46d, V.A.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, authorize the issuance of their
Dallas-Fort Worth Regional Joint Revenue Bonds, Series 1972, in
the aggregate principal amount of $112,000,000, which bonds are
dated March 1, 1972, in the denomination of $5,000 each,
consisting of 22,400 bonds numbered in direct numerical order
from 1 through 22,400 and which bonds mature and become due and
payable on November 1 in the years and in the amounts specified
in the Concurrent Bond Ordinance authorizing the issuance of the
Series 1972 bonds; and
WHEREAS, such bonds bear interest evidenced by coupons at
the rate set forth in the Concurrent Bond Ordinance authorizing
issuance of the Series 1972 bonds; and
WHEREAS, 20 interest coupons on the above-described Series
3972 bonds, to wit:
Coupon No. 32, due May 1, 1988, on each of the
following bonds - Bonds No. 3241, 3242, 4651, 6334,
8076, 9337, 9342, 9348, 11083, 11783, 11848, 15051,
16044, 16260, 18477, 18550, 19484, 20690, 21748 and
22362 (the "Lost Coupons")
have matured and are unpaid; and
WHEREAS, a letter dated September 13, 1989, in due form has
been received from Grady H. Vaughn III, the party entitled to
receive the interest payments on the Lost Coupons, stating that
such coupons are lost, which letter is on file in the office of
the City Secretary; and
WHEREAS, Grady H. Vaughn III has provided acceptable
indemnity for the Lost Coupons to each of the Cities, the Dallas-
Fort Worth Airport Board and paying agent for the Series 1972
bonds; and
CITY OP POST WORTH
WHEREAS, the Cities are authorized to direct the paying
agent on the 1972 bonds to make the interest payments on the Lost
Coupons which payments have matured and are unpaid;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
Section 1.
That the paying agent or agents for the 1972 bonds, are
hereby authorized and directed to make the interest payment of
$156.25 to Grady H. Vaughn III, 2121 San Jacinto Street, Suite
3000, Lock Box 85, Dallas, Texas 75201 on Coupon No. 32 on each
of the following bonds:
Bonds No. 3241, 3242, 4651, 6334, 8076, 9337, 9342,
9348, 11083, 11783, 11848, 15051, 16044, 16260, 18477,
18550, 19484, 20690, 21748 and 22362
due on May 1, 1988 (a total of 53,125), which interest payments
are due and payable.
Section 2.
That the Dallas-Fort Worth International Airport Board and
its chairman and officers, and the City Manager of the City of
Fort Worth are hereby authorized and directed to make such
certifications and to execute such instruments as may be
necessary to accomplish the payment of interest on the Lost
Coupons to Grady H. Vaughn III.
Adopted this !'day of ,
Appr/~ Ito Fo and Legality:
1 1.~.,~..9~~
City Attorney
Date: SJ~S -~ p
1990.
APPROVED BY
CITY COUNCIL
MAY 15 1990
Clly Secretary of the
Clty aE Fort Worth. 1'ettw
CITY OF FORT NORTS