HomeMy WebLinkAboutResolution 1432f.~-,
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A Resolu~on
RESOLUTION N0. ~7'J~
RESOLUTION CANCELLING AUTHORITY TO ISSUE CERTAIN BONDS
VOTED AT AN ELECTION HELD FEBRUARY 7, 1978
WHEREAS, at an election held by the City of Fort Worth, Texas
(the "City"), on February 7, 1978, the qualified voters of the City
voting at said election authorized the City to issue $20,000,000 in
water Bonds and $24,000,000 in sewer Bonds (the "Bonds") for the
purpose of making permanent City improvements by improving, extending
and enlarging the water and sanitary sewer systems and water treat-
ment and wastewater treatment plants of the City and acquiring the
necessary land therefore; and
4lHEREAS, of the $20,000,000 in water Bonds and $24,000,000 in
sewer Bonds for a total of $44,000,000 in aggregate principal amount
of Bonds authorized at said election, the City has heretofore sold
and delivered $16,500,000 of the water Bonds and $10,000,000 of the
sewer Bonds; and
WHEREAS, insofar as approximately eleven and one-half years have
passed since the date of said election, the need for which the author-
ity to issue the Bonds was sought by the City and granted by the
voters iri said election no longer exists; and
WHEREAS, the City desires to cancel the authority to issue the
remaining unissued principal amounts of the Bonds granted at said
election.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS:
Section 1. That the City Council hereby cancels the authority
to issue $3,500,500 in water revenue Bonds and $14,000,000 in.sewer
revenue Bonds which were approved by the voters at an election held
on February 7, 1978.
Section 2. That this Resolution shall take effect immediately
upon its adoption. ,
APPROVED BY
CITY COUNCIL ~:
' JUL 6.1969.
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