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HomeMy WebLinkAboutOrdinance 2793 ORDINANCE NO. ART ORDINANCE PROVIDING FOR THE ISSUANCE OF NEGOTIABLE COUPON BONDS OF THE GOVERNMENT OF THE CITY OF FORT WORTH, TEXAS, AMOUNTING TO THE PRINCIPAL SUM OF TWO MILLION, ONE HUNDRED AND SEVENTY-TWO THOUSAND DOLLARS (42,172,000.00), IN ADDI- TION TO THE SUM OF SIX MILLION, THREE HUNDRED AND TWENTY- EIGHT THOUSAND DOLLARS ($6,328,000.00) WORTH OF SAID BONDS HERETOFORE ISSUED OUT OF AN AUTHORIZED ISSUE OF NINE MILLION DOLLARS 4910001000.00), AND BEING KNOWN AS SERIES 74 AND DESIGNATED AS "STREET IMPROVEMENT BONDS," TO BE ISSUED FOR THE PURPOSE OF CONSTRUCTING, IMPROVING AND EXTENDING THE STREETS, THOROUGHFARES AND STORM SEWERS OF SAID CITY, IN- CLUDING IN SUCH PERMANENT PUBLIC IMPROVEMENTS THE STRAIGHTEN- ING, WIDENING, PAVING, GRADE SEPARATION, LIGHTING AND DRAIN- AGE OF SAID STREETS AND THOROUGHFARES, AND ACQUIRING THE NECESSARY LANDS THEREFOR FOR SAID CITY, EACH OF SAID BONDS TO BE IN THE DENOMINATION OF ONE THOUSAND DOLLARS ($1,000.00), TO BE DATED SEPTEMBER 1, 1950, MATURING FROM SIX (#) TO TWENTY-FIVE (25) YEARS FROM THE DATE THEREOF, THE FIRST FOUR HUNDRED AND FORTY-TWO THOUSAND DOLLARS ($442,000,,00) WORTH OF SAID BONDS TO BEAR INTEREST AT THE RATE OF ONE AND ONE- HALF PER CENT (1-1/2%) PER ANNUM AND THE NEXT ONE MILLION, SEVEN HUNDRED AND THIRTY THOUSAND DOLLARS ($1,7300-000.00) WORTH OF SAID BONDS TO BEAR INTEREST AT THE RATE OF ONE AND THREE-QUARTERS PER CENT (1-3/4%) PER ANNUM, SAID INTEREST BEING PAYABLE SEMI-ANNUALLY, THE INTEREST TO BE EXPRESSED IN COUPON NOTES ATTACHED TO THE BONDS; DIRECTING THAT THE SAID BONDS BE EXECUTED BY THE MAYOR AND CITY SECRETARY; PROVIDING FOR AN ADEQUATE TAX LEVY FOR THE PAYMENT OF THE INTEREST ON SAID BONDS AND TO CREATE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF AS THE SAME MATURES FROM TIME TO TIME; AND PROVIDING THAT THIS ORDINANCE SHALL BE IN FORCE AND EFFECT FROM AND AFTER THE DATE OF ITS PASSAGE. WHEREAS, on the 5th day of September, A. D. 1945, pursuant to the authority vested in said City by Section 19 of Chapter XXV of the Charter of the City of Fort Worth, adopted by the qualified voters within the limits of said City on the llth day of December, A. D. 1924, and the laws and Constitution of the State of Texas, the City Council of the City of Fort Worth, Texas, by an ordinance of that date, directed the submission to the qualified electors who own tax- able property in the City of Fort Worth, Texas, and who have duly ren- dered the same for taxation, at an election to be held in said City on the 2nd day of October, A. D. 1945, of the right, power and au- thority of the City Council of the City of Fort Worth, Texas, to issue negotiable coupon bonds of the corporate government of said City in the principal sum of Nine Million Dollars ($9,000,000.00) for the pur- pose of constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public im- provements the straightening, widening, paving, grade separation, light- ing and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor for said City; and, WHERTAS, in conformity with said ordinance, the Mayor of said City did make proclamation of said election and fixed the date thereof for the 2nd day of October, A. D. 1945; and, WHEREAS, said election order and proclamation thereof were pre- pared and published in the manner and for the time prescribed in said ordinance; and, WBEREA.S, on the 2nd day of October, A. D. 1945, said election was held in the City of Fort Worth, Texas, at the respective polling places designated in the election order, at which said election the issuance of said bonds was submitted as a proposition to the qualified electors of said City who own taxable property in the City of Fort Worth, Texas, and who have duly rendered the same for taxation; and, WEEREAS, the official ballot on said occasion, in conformity with the ordinance of the City Council hereinabove mentioned and in so- cordance with the order of said election, in form and in substance reads as follows: OFFICIAL BALLOT I. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Nine Million Dollars ($9,000,000.00) for the purpose of constructing, improving and extending the streets, thoroughfares and storm sewers of said City, in- cluding in such permanent public improvements the straightening, widen- ing, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall became payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi- annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the ma- turity thereof? FOR the Issuance of Street Improvement Bonds. AGAINST the Issuance of Street Improvement Bonds. II. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Two Million, Five Hundred Thousand Dollars ($2,900,000.00) for the purpose of es- tablishing, equipping, extending and improving municipal airports and landing fields for airplanes, aircraft and other aerial machines, and acquiring the necessary lands therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per anaum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sink- ing fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Airport Bonds. AGAINST the Issuance of Airport Bonds. III. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Two Million Dollars ($2,000,000.00) for the purpose of improving, extending and en- larging the sanitary sewer system and sewage disposal plant of said City, and acquiring the necessary lands therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Sanitary Sewer System and Sewage Disposal Plant Bonds. AGAINST the Issuance of Sanitary Sewer System and Sewage Disposal Plant Bonds. IV. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Three Million Dollars ($3,000,000.00) for the purpose of improving, extending and en- larging the water works and water works system of said City, and ac- quiring the necessary lands therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall became payable within forty (40) years from the date there- of, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi-annually, and levy a suf- ficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of hater Works Bonds. AGAINST the Issuance of Water Works Bonds. V. .Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Three Hundred Thousand Dollars ($300,000.00) for the purpose of constructing, build— ing and equipping a police station and jail building, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on-said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Police Station and Jail Building Bonds. AGAINST the Issuance of Police Station and Jail Building Bonds. VI. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Seven Hundred Thousand Dollars ($700,000.00) for the purpose of purchasing, acquir- ing and improving land and property for public parks in said City, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Park Bonds. AGAINST the Issuance of Park Bonds. VII. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Five Hundred Thousand Dollars ($500,000.00) for the purpose of purchasing, acquir- ing and improving the playgrounds and recreation parks of said City, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable ppmi�annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Playground and Recreation Park Bonds. AGAINST the Issuance of Playground and Recreation Park Bonds. Vill. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Eight Hundred Thousand Dollars (3800,000.00) for the purpose of constructing, build- ing and equipping an art and childrents museum for said City, and ac- quiring the necessary land therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date there- of, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi-annually, and levy a suf- ficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Art and Childrents Museum Bonds. AGAINST the Issuance of Art and Childrents Museum Bonds. ISe Shall the City of Fort North, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Five Hundred Thousand Dollars ($500,000.00) for the purpose of constructing, build- ing and equipping a recreation center building and amphitheater for said City, and acquiring the necessary land therefor, said bonds be- ing payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi- annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the ma- turity thereof? FOR the Issuance of Recreation Center Building and Amphi- theater Bonds. AGAINST the Issuance of Recreation Center Building and Amphitheater Bonds. X0 Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of One Million, Five Hundred Thousand Dollars ($1,500,000.00) for the purpose of con- structing, equipping and improving agricultural and livestock exhibit buildings for said City, and acquiring the necessary lands therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty,(40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Agricultural and Livestock Exhibit Building Bonds. AGAINST the Issuance of Agricultural and Livestock Exhibit Building Bonds.; and, WHEREAS, in the election held in said City of Fort Worth, Texas, on the 2nd day of October, A. D. 1945, on the question of the issuance of said bonds hereinbefore mentioned, there was a majority of votes in favor of the issuance of said bonds; and, WHEREAS, by virtue of said election, said City Council is vested with power and authority by and from the qualified electors who own tax- able property in the City of Fort Worth, Texas, and who have duly.ren- dered the same for taxation, to issue said bonds for the purposes afore- mentioned and to make same valid and binding obligations of the corporate goverment of the City of Fort Worth, Texas; and, WHEREAS, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the 13th day of February, A. D. 1946, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the principal sum of Your Hundred and Fifty-three Thousand Dollars (4453,000.00); and, WHEPM4S, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the 18th day of December, A. D. 1946, authorizing the issuance of negotia- ble coupon bonds of the government of the City of Fort Worth amounting to the principal sum of Nine Hundred and Fifty Thousand Dollars ($950.- 000.00); and, WHEREAS, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the 16th day of July, A. D. 1947, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the principal sum of Seven Hundred and Fifty Thousand Dollars ($750,- 000.00); and, SAS, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the 23rd day of June, A. D. 1948, authorizing the issuance of nego- tiable coupon bonds of the government of the City of Fort Worth amount- ing to the principal sum of Four Hundred and Twenty-five Thousand Dol- lars ($425,000.00); and, IM91Y S, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the 27th day of October, A. D. 1948, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort North amounting to the principal sum of One Million, Your Hundred and Fifty Thousand Dol- lars ($1,450,000.00); and, WEFAMAS, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the 14th day of September, A. D. 1949, authorizing the issuance of nego- tiable coupon bonds of the government of the City of Fort Worth amount- ing to the principal sum of Two Million, Three Hundred Thousand Dol- lars (02,300,000,00); and, WHEREAS, all of the above described bonds were issued out of an authorized issue of Nine Million Dollars ($9,000,000.00) worth of said bonds, which bonds were authorized to be issued by the property tax- paying qualified voters of said City at an election held on the 2nd day of October, A. D. 1945, and all of them being a part of and known as Series 74, and designated as "Street Improvement Bonds"; and, WHEREAS, it is deemed wise and expedient by the City Council of the City of Fort Worth, Texas, in the exercise of the discretion re- posed in it by law, that Two Million, One Hundred and Seventy-two Thou- sand Dollars ($2,172,000.00) worth of said bonds, in addition to the Six Million, Three Hundred and Twenty-eight Thousand Dollars 326,000.00) worth of said bonds herstofbre issued and sold out of the authorized issue of Nine Million Dollars ($9,000,000.00), be issued in bonds at this time, said bonds to be issued being a part of Series 74 and designated as "Street Improvement Bonds"; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION I. That the municipal government of the City of Fort Worth, Texas, issue its corporate negotiable coupon bonds in the principal sum of Two Million, One Hundred and Seventy-two Thousand Dollars ($2,172,- 000.00), this amount being in addition to the Four Hundred and Fifty- three Thousand Dollars (64.53,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 13th day of February, A. D. 1946, the Nine Hundred and Fifty Thousand Dollars (0950,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 18th day of December, A. D. 1946, the Seven Hundred and Fifty Thousand Dollars ($750,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 16th day of July, A. D. 1947, the Four Hundred and Twenty-five Thousand Dollars ($425,000.00) worth of said bonds hereto- fore issued by an ordinance lawfully passed and adopted on the 23rd day of June, A. D. 1948, the One Million, Four Hundred and Fifty Thou- sand Dollars ($1,450,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 27th day of October, A. D. 1948, and the Two Million, Three Hundred Thousand Dollars ($2,- 300,000.00) worth of said bonds heretofore issued by an ordinance law- fully passed and adopted on the 14th day of September, A. D. 1949; that the bonds above described were issued and sold out of an au- thorized issue of Nine Million Dollars ($9,000,000.00), authorized to be issued at a proper election held on the 2nd day of October, A. D. 1945, which bonds are known as Series 74, and designated as "Street Im- provement Bonds"; that the bonds so to be issued shall be in the denomi- nation of One Thousand Dollars ($1,000.00) each, dated September 1, 1950, the first Four Hundred and Forty-two Thousand Dollars ($442,000.00) worth of said bonds, maturing from 1956 to 1959, inclusive, to bear in- terest at the rate of one and one-half per cent (1-1/2%) per annum and the next One Million, Seven Hundred and Thirty Thousand Dollars ($l,- 730,000,00) worth of said bonds, maturing from 1960 to 1975, inclusive, to bear interest at the rate of one and three-quarters per cent (1-3/4%) per annum, payable semi-annually on the first day of March and Septem- ber of each year respectively, both principal and interest of said bonds being payable at the Central Hanover Bank and Trust Company, in the City of New York, State of New York, the semi-annual interest being evidenced by interest coupons attached thereto, all of said bonds to be executed for and on behalf of the City of Fort Worth, Texas, by the Mayor thereof, attested by its City Secretary, with the seal of the City thereon duly impressed, but the interest coupons to be executed with the lithographed facsimile signatures of the Mayor and City Secretary of the City of Fort Worth, Texas; that each of said bonds and coupons shall be negotiable and payable to bearer, and said bonds shall be numbered in the way and manner hereinafter set out, so that the last maturing bond shall become payable within twenty-five (25) years from the date thereof, and the bonds themselves, twenty-one hundred and seventy-two (2,172) in number, shall be numbered consecutively from six thousand, three hundred and twenty- nine (6,329) to eight thousand, five hundred (8,500), inclusive, and shall mature in the amount and manner hereinafter set out; and that said bonds shall be issued for the purpose of constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widen- ing, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor for said City. That the general form of said bonds and the coupons thereto annexed and the interest added to said bonds shall be executed substantially in the following form: SECTION II. That the said bonds so to be issued by the City of Fort Worth, Texas, amounting to Two Million, One Hundred and Seventy-two Thousand Dollars ($2,172,000.00), in addition to the sum of Six Million, Three Hundred and Twenty-eight Thousand Dollars ($6,328,000.00) worth of said bonds heretofore issued out of the said authorized issue of Nine Million Dol- lars ($9:,000,000.00), shall be issued for the purpose of constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straighten- ing, widening, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor for said City, and shall consist of twenty-one hundred and seventy-two (2,172) bonds numbered from six thousand, three hundred and twenty-nine (6,329) to eight thousand, five hundred (8,500), inclusive, and the first Four Hundred and Forty-two Thousand Dollars (V+42,000.00) worth of said. bonds, maturing from 1956 to 1959, inclusive, shall bear interest at the rate of one and one-half per cent (1-1/2%) per annum, and the next One Million,. Seven Hundred and Thirty Thousand Dollars ($1,730,000.00) worth of said bonds, maturing from 1960 to 1975, inclusive, shall bear interest at the rate of one and three-quarters per cent (1-3/4%) per an- num, payable semi-annually as aforesaid, all of which said twenty-one hundred and seventy-two (2,172) bonds shall be known as Series 74 and shall be styled and designated as "Street Improvement Bonds"; and that all of the said bonds, comprising the sum total of Two Million, One Hun- dred and Seventy-two Thousand Dollars ($2,172,000.00), shall mature in numerical order in the manner and amounts as set out in the tabulated statement herewith attached, to wit; SECTION III. That the said bonds are hereby authorized to be sold to the best advantage, but in no event shall same be sold for less than par, and the accrued interest to the time of delivery and the proceeds thereof to be placed in the treasury of the City of Fort Worth and utilized for the special purposes for which they are created. SECTION IV. That for the purpose of paying the interest of said bonds, as well as the various installments of principal, as the same shall respective- ly mature, there is hereby levied for the year 1950 and for each suc- ceeding year thereafter so long as the same may be necessary, to provide for the interest and annual installments of principal of said bonds, on all property in the City of Fort Worth, Texas, liable to taxation, a straight ad valorem tax of 2.4353 cents on the one hundred dollar valu- ation of said property, or so much thereof as may be necessary, or in addition thereto as may be required, and if at any time the amount of said tax shall not be sufficient to provide for the interest and annual installments of principal, it shall be the duty of the City Council to so increase said rate that an amount shall be realized from said tax suf- ficient to meet the requirements aforesaid for interest and annual in- stallments of principal of said bonds; and it is hereby promised and agreed that such increase of tax shall be made, if required for the pur- poses named, as often as it may be necessary. There shall be assessed and collected annually a sufficient sum to pay the interest on such bonds and to create a sinking fund of at least two percentum (2%) of the prin- cipal debt herein authorized. SECTION V. That it shall be the duty of the City Council of the City of Fort Worth, Texas, and its successors, and of the government of the City of Fort Worth, in levying taxes for general purposes for the said City for the year 1950 and for every successive year during the life of said bonded indebtedness or any part thereof, to include in such levy the special tax of 2.4353 cents on the one hundred dollar property valua- tion (or so much thereof as may be requisite and necessary, or in addi- tion thereto as may be required), provided for in the next preceding sec- tion of this ordinance, and said special tax shall on no account what- ever be displaced therefrom. SECTION VI. That the special tax hereinbefore provided for, when collected, shall be placed and kept in a separate fund and shall be devoted to the payment of the interest and the extinguishment of the principal of all and singular the bonds hereinabove mentioned as same mature from time to time, and shall not be used, applied or diverted to any other pur- pose or object whatsoever; and the funds derived from said tax shall be held and listed as a separate account on the books of said City and the proceeds held and kept by the City Treasurer of said City as a separate and distinct account and so specified as such on his books. SECTION VII. That as soon as convenient after said bonds shall have been pre- pared and signed in the manner prescribed by the ordinance, they shall be submitted to the Attorney General of the State of Texas, together with a certified copy of this ordinance and a statement of the total bonded indebtedness of the City of Fort Worth, including the bonds here- in and hereby authorized and the assessed value of the taxable property in said City, for his approval, and none of said bonds shall be nego- tiated, sold or transferred until the same shall have received the of- ficial sanction of the said Attorney General as prescribed by law, and thereafter said bonds shall be placed with the State Comptroller of Pub- lic Accounts for registration. SECTION VIII. That the City Treasurer of the City of Fort Worth, or other lawful custodian of such fund, during the months of February and August of each and every year during the life of said bonds or part thereof, and not later than the 25th day of each of said months, shall transmit suf- ficient money out of the interest funds hereinbefore created for the payment of the semi-annual interest accruing on said bonds to the Cen- tral Hanover Bank and Trust Company, .of the City of New York, State of New York, and likewise proper remittance shall be made in due course to provide for the payment of the principal of any of said bonds in advance of the maturity of same. SECTION I%. That this ordinance shall take effect and be in full force and effect from and after the date of its passage, and it is so ordained. Mayor of the City of Fort Worth, Texas ATTEST: City Secretary of the City of Fort Worth, Texas APPP.OVED AS TO FORM AND LEGALITY: Vlava - a'L City Attorney of the City of Fort Worth, Texas NO. UNITED STATES OF AMERICA STATE OF TEXAS, COUNTY OF TARRANT SERIES 74 C I T Y O F F O R T W 0 R T H - 00000 Street Improvement Bond of the City of Fort Worth issued for the purpose of constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent pub- lic improvements the straightening, widening, paving,, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor. KNOW ALL M BY THESE PRFM tTS s That the government of the City of Fort Worth, a municipal cor- poration duly created under the laws of the State of Texas, hereby acknowledges itself to owe, and for value received promises to pay to bearer, ONE THOUSAND DOLLARS ($1,000.00) in lawful money of the United States of America, on the first day of September, A. D. 19 together with interest thereon at the rate of percentum ( %) per annum, payable semi-annually on the first day of March and September in each year, on presentation and surrender of the annexed interest coupons as they severally fall due. Both the principal and interest of this bond are payable at the office of the Central Hanover Bank and Trust Company, in New York City, New York, and for the due and punctual payment of this bond at the maturity thereof, and the interest thereon when it falls due, the full faith, credit and resources of the City of Fort Worth are hereby irrevocably pledged. This bond is one of a series of twenty-one hundred and seventy-tyro (2,172) bonds numbered consecutively from six thousand, three hundred and twenty-nine (6,329) to eight thousand, five hundred (8,500), in- clusive, in the denomination of One Thousand Dollars ($1,000.00) each, amounting in the aggregate. to the sum of Two Million, One Hundred and Seventy-two Thousand Dollars ($2,172,000.00), issued for the purpose of constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improve- ments the straightening, widening, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the neces- sary lands therefor, under and by virtue of the Constitution and laws of the State of Texas, the Charter of the City of Fort Worth, and an ordinance lawfully passed and adopted by the City Council of the City of Fort Worth, pursuant to valid authority from the property taxpaying qualified voters of said City, at a proper and legal election held on the 2nd day of October, A. D. 1945• It is hereby further expressly represented, recited and covenanted by the government of the City of Fort Worth, to and with each and every holder of said bonds or any one of them, that all acts, conditions and things required by the Constitution and laws of the State of Texas, and of the Charter and Ordinances of the City of Fort Worth, precedent to and in the issuance of this bond, have been done, have happened and have been performed in proper and lawful time, form and manner as prescribed by law, so as to make this bond a legal, binding and valid obligation of the City of Fort Worth, and that provision has been made for the levy and collection of a direct annual tax on all taxable prop- erty in the City of Fort Worth, and that such tax has been levied in a sufficient amount for the payment of the principal and interest of this bond at the respective maturity dates thereof, and that the total indebtedness of said City, including this bond and the issue of which it is a component part, does not exceed any constitutional or statutory limitation. IN TESTIMONY WHEREOF, the City of Fort Worth, in the State of Texas, has executed this bond by causing it to be signed by its Mayor and attested by the City Secretary, with the seal of the City thereunto duly impressed, and has caused the annexed interest coupons to be exe- cuted with the facsimile signatures of the Mayor and City Secretary, and has caused this bond to be dated as the first day of September, A. D• 1950• CITY OF FORT WORTH, TMUS BY Mayor ATTEST: Gity Secretary (FORM OF COUPON NOTE) The City of Fort Worth, in the State of Texas, promises to pay to Bearer ($ _ 1 on the lot day of , 19 , at the Central Hanover Bank and Trust Company, in the City of New York, New York, for interest due that day on its Street Improvement Bond, Series 74, dated September 1, 1950, and numbered CITY OF FORT WORTH, TEKAS BY mayov ATTSM City Secretary NO. (CERTIFICATE OF COMPTROLLER) OFFICE OF COMPTROLLER, STATE OF MEW. I do hereby certify that there is on file and of record in my of- fice a certificate of the Attorney General of the State of Texas to the effect that this bond has been examined by him as required by law, and that he finds it has been issued in conformity with the Constitution and laws of the State of Texas, and that it is a valid and binding obli- gation upon said City of Fort North, Texas, and said bond has this day been registered by me. WITNESS my hand and seal of office, at Austin, Texas, this the day of , A. D. 19 Comptroller of Public Accounts of the State of Texas CITY OF FORT WORTH PRINCIPAL MATURITIES $2,172,000.00 STREET IMPROVEMENT BONDS DATED S'EPTEMBER 1, 1950 DUE SEPTEMBER 1ST PRINCIPAL MATURING 1951 $ -0- 1952 -0- 1953 -0- 1954 -0- 1955 -0- 1956 112,000.00 1957 1109000.00 1958 110,000.00 1959 110.,000.00 196o 11Q,000.00 1961 110,000.00 1962 110,000.00 1963 110,000.00 1964 110,000.00 1965 1102000.00 1966 110,000.00 1967 110,000.00 1968 110,000.00 1969 110,000.00 1970 105,000.00 1971 105,000.00 1972 105,000.00 1973 105,000.00 1974 105,000.00 1975 105/000000 ORDINANCE No. Date 'tii S Day of— — 19 1 City Secret P. O.No. 13697-R