HomeMy WebLinkAboutOrdinance 994 At a regular meeting of the Board of Commissioners
of the City of Fort Worth held in the Council chamber at
the city hall in the City of Fort Worth,Tenas, on the
let day of 1dAh,,Ar,, 1924, at which meeting were present
E. R. Cockrell,Mayor,Chester L. Jones,John Alderman and
J. C. Lord Ooma:,issioners, constituting a majority and quoram
of said board arA city secretary, C. S. Snow was in attendance
at said meeting and the following proceedings, among other
things wave ha4� and done:
Commissi"r Lord, scoonded by Commissioner Alderman
moored the adoption of the following ordinance, to6wit:
Ordinance No.
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF
AGOTIA13LE MUNICIPAL BONDS OF THE GOVERN-
MENT OF THE CITY OF FORT WORTH,"DUNTING
IN THE AGGREGATE TO THE PRINCIPAL SUM OF ONE
MILLION TWO HUNDRED FIFTY THOUSAND p$1 250,000.)
DOLLARS FOR THE PURPOSE OF FUNDING LfRE
AMOUNT OF FLOATING,CURRENT AND SIMPLE-
CONTRACT DEBTS OF THE CITY OF FORT WORTH
NOW EVIDENCED BY NOTES,WARRANTS,JUDGMENTS,
AND CHOSES IN ACTION,ALL OF SAID BONDS TO'
BE IN THE DENOMINATION OF ONE THOUSAND ($1,000.00#
DOLLARS EACH, TO BE DATED FEBRUARY 1,1924,
I'Ci rM TMIALLY r= TM TO FORYY MM+
HA;,AI XG ITME.Of I= TH9 DATE TMMF AT
THE RATE OF PIVIC PIR OMM PER AM= PAY-
ABLR aMI-AMALLYj' TIM IMM T HR
IR COUPON VMS ATTACMW TO THE BOARDS III-
nici o m rimmoH or an apips If TIM
UAYOR AM CITY SBCFMTARY Or THE CITY OY FORT
WORTH AM P MIAO M11 AN ,ADMUATr. 'TAX
LEVY FOR TIM PA'YHRUT OF TM I _MIT 05
ndtD DOIIDr AND TM ORZATION OF A r"IMaff i
FM FOR TTI, 11`A'YT Or THE PRINDIPAL r? -A*'
AS 3= U9=3 RM TIC TO TIM AND I'W-
VIDING THAT SAID DMIU1ls'CR 1,LL hE Er..
T MMI A= AIT :R TIM l'W�AOE TMMY,
AUD THAT SALIE SHALL DX MD ,AND TAKM AS
A AMMITUTE IN ITS =JTIT''=-- Y FOR ORDINANCE
NO. P01 1W TWOP PASSE DY TV& BOARD Of
CQW, SSiOM9 OF TM CITY OF FORT WORTH ON
TIM VTH DAY Off' JAWARY, As D.
-1; IT 010AI D BY THL BOARD 07 COM119910M3
Or THE CITY Or FORT WOPTUs
THAT,, 7RCM90 by ordta a Flo. 091 paa,ed
and ivdapt ed an the 30tb dmy of Jwmvxy, ,As D. 1934 by
the Board of Gowlsmionero of the City of Fort Worth
a bond isRue of 1, "!Or°' , wrShorized by arUd Eo�ud
of Oa=ieaionars under and by virtue of fte temm of
said orAin xxo+3; and
W.W""A! , oastaln 01,Srio•�1 error* rfmrm s w1a
In tha preparation of said oardiwiva in the aahedula
of nxturitiaa of the bonds no to be isausi and in -tIm
mmber3rg of mdd b oada as ,� :as rare n*t out in anid
o rli n Lnoaj HXA
111 A'A, It In deme1d pmtr in1 expeiiant
to correct 4idd arrorfi so that amid mahadule all
spy the Intent of the Boned of Ooaeaissicrners in the
1-Mu LM o Of said b err+e, the 3WtU rit ies umd t tr el =*abeV-
ilkg tb*",*fl rmA
tS* by reason of the pmisos it is
Soomml expeAient to fie and pass an ordi oo th'4t
shell in Ate eat l2v%y take the p1 w a of and be a eub.
etitUt4 for a old ordinme# Ho. 1911 * 111111111MIRFMI
H2 IT TMUn OMAIMM HT THE Bid OF
001�-
"IMIOSMS Or TUR CITY DF rMV WORM
THAT* 13'MMAS, the 01ty of Fort Forth in in-
3a? *�1 oaz �courit a�' assrbain flor►ti�;, current :-�i
simple-omtrwt debtao evidenced t y #wWrante drPona
by dirmation of the Eaa-vd of Cow-loolomors of the
City of tort Worth, pronionory notes &W cahomos in
action executed -krd arfmte4 by the n=a authority,,
and jmIgmerte in courts of oap*,5tent jarisdiotion
rendered mgminat they anid City of Fort Worth, Ahioh
dobt4 have bean heretofore lam tIly Uxmr iud con-
trmteci 'by the anal oity ;a§ and durirLU the partod
of apr-Mlmte y aL,,htein a cnthe next nreoeding the
pe.ee mage of this ordinance, WhI011 S,%1d debt o amamt
tU-#W mg0mg"a to the Atari of am million two fired
f1 fty t hct oared (601*251 , .. ) dol lira„ axed are ncm z&r
hmv* been emcee their creation mid, low wmi nub.
alatim, obligations of tic &Ud City of Fort rar th,,
anci core yet 0Ut st MUAL1%; :x1r1 Un:a 1 ti d j :ss�
tIMUS6 all this fenplW &rAobtsdnoss
was lawfully lumrjv1 by the City of Fort Worth wader
,imt by vrlrttae of the p2vviniMs of itri obartar :Ukt iii
aocortla noo wi't`. lazy +x 1
7MY-11 . umler tho rm►io1ann of '' tion
18, Ctsaptor R, of thm oba ter of the City of "fort
Vartb, the Board of Comissiours of aaiA colts► is
exprsaily rested with the power 3a1 nuthori.ty Co
fund any debt or debts whioh may bo avin., by the
City of Taft t avth, whether tho aame a floating,
Qurrent or simplo-contmat d4 t% =4 to Los" bcada
theraforlto aac"Wllsh Said Pmi nj: pur_rossl grad
CAI, all ,'�:13 debt n w1dah era to be
ftimAed by the tarmra Of thl► ordin:ve b*ar an in-
toreatit mte of not loan tta;,.n six ,,or nantm per
31MMq, not*ithatLv ding the pour tea
laaue owh -snadLM goods vaer expremxly 0onfided by
the term-t of the -,bartsr to they judpnmt and dis►
areation of the 13amrd of Camlonionere, It wart nover-
thq lrtsr dowwl wisp aml gxperlient by isoJA Bmir_i of
Cft=1 n10Mera of tba City of Fort Wor%h to %-m artain
the :aanae of txre eiea;orate tharomij *ad
S, on jawman 10# 1924 the '0o ml of
Camlsolofters of tho O ty of Fort booth at 2 retC tl xr
sssaion tharocjf# '-p raeolutim and arlia ae of %
date, d1racted the svbuSowLM to the j7ro *r%y wMjM"ing
will is : votara of the City of Fort Vorth at zu- 010c-
tion try 'he held. in amid 01ty em the T:� day Of J&a-
WLry, A. D. 1%.11 the queetion of the doilr►abillty m
the ;cart of tho Ronrd of Gomio�-ionar-) of said City
of Tort Wo--th to irvnto watis-b3e bonda of tho City
at lrnrt ra rth nnaimUns; in tM aMmgpAo to the prin.
like {wamA of floatlrxq, current a, d alma e--oontrvot
dot o of t by City of tort Tart h evidamed by not ens,
varmntq# cahaaea in wtion sand judgmenta agaLinst
i3ald e;fty cnxt Bt-eru11r4; mm *.nn raid, ;t 4d hondo to :r=
:30r4+'L .ly fZ'CM fS•rc tO fOer y Y'O"s :,.sari do
wereet fr= the date thar-�of at She mte of five per
centum per vmm, paymble: emi--%mualiy, the interent
expressed. In cou;on natee &Itewbed to the boMsp =,;
to rrovido for qn adequate taac levy far they psaymant
of the Interest am aald bonds, and the areratIOR at
slain ftffi for the payment of the princknal thercaotj
Wid
AO'FtU130 in omformi:y vith odd resolution
and ortinwos the mayor of 3-Aa ally did r ika :rroaja-
mntlan of o4l election mnd fix the date thereof for
182 A13s said aleotion order vi prwla.-
.mrxtio i tbexeof 6tmu po4tted wd ptullmhad In 1hp.. I3.w!Ln4r
w d for the time proscribed in said resolution and
ordinr"►me;
'THF7-: A% an the T3 nl dmy of Jm"ry# A. Do
V))4 said eleatioat mks held in this City of Fart Worth
at the aaspective ..ol'IIZW, Tlaaes deslmmtad in the
elsotirzn oatder, .t whieah wdri eloollon the ln:3u-xnao
of oa1d borAs wkr. nW-,'n4ttad &a % ;::opo3ltiott to the
ttu-psyin, gwg1lled votor- of sold olty; -inn
,I AS, the offiol-a W-1.110t on h oo—
oaziQn, in confowIly ivith thn resolution tnanrt 6 di+nrxrae
of the Hdaaid of Cawd- sniono its hsreinmbanee mentlonod„
and is at)oovdrkwe w1th the *%der for nald election,
IA form aid aubEstaws react as follotes
MCIAL BALM
ftall the Qit1 of Fort Worth tbro '-h itc
Doan,, of Cossmissioners issue its n"tV.bia co'"P n
bond,i rmning frau five, to tarty yevixrT Crow the date
thereat in the nilw1pril win of one million t-,o humir&I
fifty thatinn=l doll&" for the purpose of
ukinr, vp urA funding floating, current and Ompler-
Uontreat debtfs nor! SAT by tb:oy Cite of .Fort Tro%lth„
=mmtin�; to the principal ww of one million to o
lamdred fifty thw'sexad doll-,rn* said
bW4* payable at ttad *xpIrat1cn of five yoera froma
the date tharesof W saarinlly thoresftor f7E'm ye`%r
to year no that the 1ant m%tuAM bondn iihall beccas
due and pa^Mt.le f'en■" yore from the date ther"fr
bearIng interest M the rate of fire per cent per
amum from the date thereof payable owi-amijally,
aw levy ao sufficient t= to 1.;%.y the intero^t on egad
bearAs and oreate n sirdting furA cuf.'iaiant to ray acid
• bads at the mturlty thereof?
FOR TRC 11MIAMN OF SAID BONDr,.
AOAINaT TAM 29VARZ OF LAID B001,
AXO, WRCAB, the election bald in said
City of ftrt Forth on the Vnd day of Jerry, At Do
U124 on the question of the ioamwe of Mid b0fldee
U"InbOoro mentioned resulted in a unjority in favor
of the ionumme of all 1�4,1 ',OMS; uxt
VHXM$i at the eleatim held for Chet z:dd
the no3 orityr of the qualified pr"nrEy, tax-
paying vot#r:3 at he City of Fort Forth :teolared thew-
solves to be In F:vor of the it ltv, ce of said bando;
•tad.
` -TTA7.. it in vaoenwi�3 to the *+e3 arr�
of the city g-.,nd to tIte maint anxts a of itn o redit
that the rate of intareat on odd orialml debt be
lowered ani that amid Indobte dnean be f doil In
nor,o`w iable bonds of the City of Fort rorth in the
am of one million tiro bMdred fifty thow%und
deny r,1 bwe rlrlg Interest fra= the
data thereof at the rote of five per COM per r-nnum
r.ay!ible xtmn1n7 serially from five
to forty yen", the intgreet to he *xp"seal in
oe=ons atteah+ed t+a *W bondn, wo the bmda tho*.w
aelvei to be lvmad in deavainattara of one thoneard
dellurs each; =1
TTZnA", it 1` sstim:ttsd that the total
aw-crazed vnInes of rra:'grty in the City of 'Fort
Forth mft3aet to ta=tian :or the yamr 1914p wd
the rear'o thigrwift err, ^ziomt :-:rk3 All to a aura
exasadins. one hundred fWky ralllica dol.
LIMIMAI, it i$ sativated th-%t on tbs bums
of guld,taxable Values It Wi11 require One UTY of a
Teclml, direct, rvl v7llorsn tax in the sm of seven
c ant o on each cue hundred dollars of p rov a rt p v:ai u.—
tint to t'. ►ids for the payment of the in'toreat on
..id honda as flame acamas, ani `'or the Pay"nt of
rho -rS.wLpal thereof as s a tiaturas from year to
ye r; ind
rFMM9, it is deemal wise dnl e X psd3ent
'7y the Board of Co Iaryianars of Chi City of Fart
rorth, in thei axvT-uiso cA the eimo"t'.on reposed in
It by lair* that the for goirig debts sbWd firs furAsd
ansd aonvsfted into negatimble bonls as afoxaoaid, =d
that sn,id bends bo Isaviod in oxgshunge for tv Ilk*
ate owyt of lebt r lolAah are to be fvnied Mvein, or
that the prooeeds of the o..ae of raid bonds be utilized
3n the 1;-Vaenst of maid originM1 Ubts to rual whioh said
bonds aura authorlserd to to I*iue3 he"In; NMp TIMTXMRRI
SE IT =t'_mi OV. AI ,f BY TIM BOARD 07 CCd -
!211-1=1 M- OF TM CM OP FORT IffORTHS
MOTION I
That purmant to the provi-crime of Rectl=
lit, =-aptos ti of the ahartsx of the City cf ftrt Tortbi
grunted by wt of the 11:it Jagi,3xaturo of the latrste
of Tax-A at a ragul.sr mossion thereat whiah oameneri
J-Lm ry 13, 1 s?0P &M adjourned 1!-%rc p V;, 19000 a1
purvuant to a vote of the property tee.-paying* qu4-
M&A voters of the City of Tort 'Korth hold In Said
aity for micrh rurpena na VD3 T nd clap of J=wxry,
A, D« 1V.,4e that the suiddlpal goverment of the
City of Fort Fyorth isjus mods utur Ito aorporatee,
aagotliibla cowlon boasts in the am of acne millior:
t-o hmdred fifty thounaa i (01.2 .0W) dollsrs LA
the denomination of one thotwand (01,000) doll:arn
awh, dated ftbmary 1, 1924„ bemxInf; inffie"stz ;,.t
tho rato of five per cent.= jpez rt=s i* paytbla oa`t- .
ann=l3.y ca the lot dap of Avr;uot md oat the lot
day of February of e Wh year, both ptinaipal and
intereat of irA- d bade paryrblo at the ftnwer MAjonrl
in the City t' lie- York# r-tt-te o; Ile-, Yo rk#
tho owl- muml fntere3t on aid bwdn eridenaed
by iritarout. couponn atuohad tix1o^rntoo -al fmid bondn
to be innued for wA an bah.-af Of the City of Fort
`7nrth by the mayor thereof, attc-tod ty tho city
secretary, "Ith the ee+a of the city thox*an duly
Impreseed, tut the Intl1raet Oa Mona to lie iae!med
With the llth*r;mphed fm4-.+eWle SICMturen of the
mayor -nd of the city aearettary of the City of Fart
Vlorth.L Each and ell evAd bonds umd the coupons thorm�-
of shell be negotiable is form WA paynhlo to boaacer,
ani the bmAe thmsolv*s twelve humAred fifty
In =Wberar aball ba =%mbered 000eeautively frm one L
(2) to twelve bundrei fifty (l:rKr) inalusirre, rail
shall mm".ire in the maumta wul mamor barsim--ter
.met cut,,, the first r,,4turitiefo to cn;;ur five yoara
from the doe thareo.f and the ranairder of the bavndca
to heacme duce and p ymblee thevourfter #rem Yen to
yez►r sso tbe►t the le.at mituring bauda shoal bWomo
this W parble forty geLva from the saute thereof,
nnl the order of their maturities pith the ambers,
dartominat dos, maturity and mmaWts of 8=e a W l
be im owt vAb in the tabu eloarl atatanarct hereiith
-Lull!olned and mado ex part horoof, to-,+it!
$1,250,000.
CITY �v FnRT nATH, _ XAgJ 5% 1------- ^A',
r - LE
(r'xtended)
Dz ted ry 1st, 1-24
Due r_,."S t- : . s Pri c', 1 '_ Tot .-1
I -tere .:t
Feb. {y r,e- ,ire- Re-q!re-
let. _ ment s
1-25 $1,250,000,
19256 1,250,0o0, >,500. 62,500,
1,27 1,--50,000. ,coo, 62,5^^
1;2e 1,250,000, bG,,SOO. 62,.500,
1929 1,250,000. 1 to 1;�, ino. 1�,000. �,� 00
1930 1,237,000. 1''- to 27, i` c. 14,000. '1J50. 75,950•
1931 1,223,000, 2e t� 1, i c. 1'+,000. 51,150. 75,150.
1932 1,2099,000, 'a, to r,', iro. 1�,noo, >o,45o. 75,'�50,
19333 1,19L•,000. 57 to 72, i-c, 1',000. 59,700, 75,.700.
1993++ 1,17e,000, 73 to 9, irc. 17,000. ��,goo. 7J,900.
1 3 1,161,000, 90 to to a.rc. 1�,. '00. =g,orca. 7 ,050.
1936 1,-1}3,000. 109 -to 123, il,o. 11f.,000. 57,150♦ 75,150-
1937 1,12-,000. 126 to 144, i7o. 19,000. c4,250. 75,250.
1930 1,109,000, 1''•,; tr 164, t- c. =^,^nn, ��,7On. 77,300.
19�9 1,Oe6,000. 1'G 0 1 5, c. 1, - �ij�nn. r',70C.
1 1J0-5,o00. 1 to ^07, i• o. �2.,00p, -�, -50, 7=, _:50,
1 1,03,p00. ^e to _'l, c. '',nn^. 154.
19"42 1, -1^J_ :.x2 a.o -7', i*o. -� J 50. °50.
57 to , C. , Y ,700. 00.
19•'� 'f ,000, ??; `o 309, c. ?,000. ",400. 00.
1�'�5 *1,000. �10 to x7e, _ -c, `,��. 7,;�r. ?_,a5o.
1 1 -� 91=,000. `x39 to 36g`, C. 76JO00, ','", ^.^, , D00,
19!}7 ���r z_.r ,.o ��aJ i..c. 71,000. �#,100• ,-5,1C`O.
51, r. to �3_, '.--c, '3,000. ,550. v-,"`�.
zY,000, ' 333 to '�67, i .c ' ^ 75 :r0r♦
0.1950 7 to 503, s, 3:,15 75JJ15
1951 747,000. _^..L to 541, i--c. ie,000. 37,�50. � ��p.
1952 709,000. � _ 5e1, i-.c. �O,00 . 3-., �50, 7F,a5o.
2,000. '�195� F'9, 00. r to 23, i„e ,
19; 67 i* c 14,00 , '1, 50. ?5627,00�. 924 to 7�,,1''•50n.
1955 5e3,000. 69
to 713, inc. 'I',000. 29,150. r5,150,
195 37,000. 714 to 762, i:.c. 49,000. 26,85o. 7r,e50.
1957 $e,000. 7633 to e13, inc. 51,000. 24,400. 75,?#•00,
1959 437,000. e14 to "67, inc. +,000, 21,^'50. 75,950.
1959 383,000. '-_� to 923, inc. 56,000. 19,150. 75,150.
1950 327,000. 4 to 992 i},c. 29,000. l', 50• 7-0 50•
1961 26e,000, ge3 to 1044, inc, 2,000. 13,�00. 75 M0.
1962 2o6,000, 1045 to 1109, i:c. 65,000. 10,3QQ. "'3 00.
111Q to Z.7 8. 7J M. 7� Cr
G.
7,," r. 11-9 to 1-70, i- c. �2� ,,. � s J �
Tat -� @� ,:50,000.$1,71g,100. --,969,3.00.
oil% xya vTgw,&-,;d e:.=uN .pact anspoo .xv,1
*Ai; S0 DEW Vqj AT traQZ ql %PVROWT 4tTg &0440ftS
so%vw pavm vq; ,;0 Acuorl znjuvt ut vx-Ut=op (OCOIT.0)
"xvvnQg4 Quo fmvaq n# Aud O'� 9807px:: P"Tagw OnIVA
s0; TXL%;, f0OZ o�, it81'4T 001sr-01-%3UKOU AgVXc!t[ I V',aWa J, ;0
QR4 4M ISMEMLd VMI 19 a3r, TIY AM
�� 5 �""B 'tYctlCl7; iu►
8YUJI d0 XIM:.,
ford= 10 SUM mum
(009 410 mod)
clip, ATrvT;Xm�Qgtw ut pq x* U. Y�qo 4avuoq aT'Ue
iumftocw 0194 VUT- i4vua� 1'�LI 1149# 1411141L
ne 104 !.Merest owipma an thoy s veraelly fU1 duet
.Both the prtwtpal Vvl Interest Of this bond %re pay-
".ble at the office of the Hananrer H-tieri 1 &ink in Na-V
York City„ Now Yorttarxl for the sus mid punatu33 pV-
Mont of this 11.0rad at the mtturity thereof. e:ed the
lnteront whereon mien it fella dui, the full faith#
credit .n:; tooft ces of the City of fort ",orbh are
herohy lrraivooable i,1sdged+
This �,orwa to one of o series of 1250 bye
humbarad 0onsdoutively frm 1 to Law) iWlaelre,, ewh
of the denasIm Lion of $1 f000, t 1n,, in the aE
grrgnte to the nun of on* million t-.,c) brad fifty
thousand (�X�'3i �::��:} doll;..At issued for the jur-
pose of fur4lnr a Me maunt of valid arA
elxtixq►, floating* our"ut and s1,,wle-0ontxwt debt*
of the City of Fort Voarth, hereta+raara l87::11y ib-
ouararad and aontrnotea W the r,ovarmont of the City
of Flirt 'R ort h, :1-ut heria ed under wA by virtue of
the oonatitutiont sue. laws cif the "tat}n of Toxtmt the
charter of the City of Fort North And an ordinaune
of the Do%vLi of ComdaAamern of saJd pity lawfully
paaseed aril adapted on %het 'i th :haw of JL-mua y, A. D.
lV34,rL pi=sumnt to vzalid authority from the ,property
t txx-puyiM qualified vot aTn of -:nid city at ,� prepor
w4 legal ele ation bold on :he Wand day of J':mv;rf p
1. D, 10.,A# 7%rx& t is a holder of thin bottd Is +..vb ragat eel
prey t a nt o to ;11l the right q 1=1 remedies of the ori,_;inal
F.j lder of the debt ia funestad !►saetria and lxrbjr.
It la horeby represonted, rstaited oad
owmnantad 1t* -Ln:i rite ewh and every holler of
-33id bosh, or wiy one of tham,, that -al. ante, oom-
ditiono and t1i1wo roodred by tha lire of the Ptato
of Toxn.rn, wM of the almrter mirl ozdlmman of the
City of fort Forth Preoe-lent to wij in th*a iaeuamoo
of this bond have boom done, We hmppanod n l hrxve
bom peyrtomed in proper tin** form and mar rsa
pxoxibed by lwv,j that aU tho irx'lab'tedtmen �epr*-
oontei by the wmrrmnt r�, jud,,men'ta snd notes which have
been funded ana extended by the So-yum ae oC this borA#
-L4,j lanz*W ly eoritrwter'., ir*.urred i.nd cst tba tine
when title boAd 1Tan ismied wan rs legal, binling arit
valid oUl,;astion of the Oity of 'fart orth, VAd that
pzovinlon have bean model for the leery W collootiart
Of n Ilmt# normal tax on all taxable property in
the City of Tort r'ort!., aW that !such tax hats been
laviwl in -� euf Lialent commmt for th4 payment of the
prim ipal mmk int ere -it of thin bond and all other
'awdQ of tbim series ,t th5 rant'F�ctive mturity Utem
theroof, and thmt the tdtml Snlabtadn-son, of aid oity,
iraludir; this bondio srd the issue of vb&a� 110 it is
copponont :art, doax not exce,*i any con-;titutioma
or statutory lUdtation,
19 TISTIMNY 'MMOF, tbA 0itr of Fort
Vorth in that 'I`u�:ts of Texas bas axeoutod this torid
It to be al6rmed by ftr, mayor mnft %,tteato
y ltn i&-r,!tary # nit" the :Nan6l of the aity thiarcunto
duly lizi ranAed, =ld has amend the wmisxe lnti�raat
ccli?ou'a to be I%OwttaS 'Kitts gild I=—
■iauile of ne clk-M. rat-dross at the lam•/or nrA Oityr ganra.-
tary virA �.,atel s.i of tho Imt 4&y of Pabra►zy, .A. A.
17,1 CITY OT FORP TOM
Attrxstt ii yax°
s y`" ' s axa�y
e ,rr . ss
(FOM QF C(ITIT lr2")
no.
The City O+ Fart ',crta:, " to 0' Ta a,
premium to PAY to bearot,
A. D. IS at the Rax=sr Xmtional Bank its ':ho Oity
faT itat e dw *MA Lw a* 1&S Ma0 7L10,51
vondt 3ewad February 1, 1924 =', ,n=bOl`%
THE CITY 4F FM 7mli
�tt�3ntt �yor
That none of the said bonds hersinabove
autthori^ed to be ismtad shall �,e isivad or uttered
,,p the mayor or city soorot,try esxoept in oxaboxV
for lawful wA e0sisting warroanto and iradebtM asss
of the City of Fort Worth owing to the holder thsrer-
of, e4 the evideme of sadd iadsbtednsss, wbothear
In fain of wa rrmt, auto or otherviss shall forth-
;,ith be ea Bleed � voided when awash exchange saris
ubout. Provided bowerwo r that usthing herein con-
tained. oWl lia construed to s.ravont the *ale of
said bonus if and when sash sale testes pUoe the
p--w aed3 thereof# to the extent some many be neaes-
aarar, oh-ill be Utilized in the present of the ov$SU el
debts, to pay ; hioh said funding bonds were issued,
Provided further thait tbin v&juimnRnt as to the
uss and application of WA bands# or the par000sdar
thereof, 0311 not be constraod to impose can any
third paAy who may oftvIrs said benods# or any one
of smmc, for viaue, the dusty to as* to the eaaMslla-
t1on of said -mrrantn or notes or athor four of
indebtedneea, so taken up by the bands heroin
zuthori:-ed to be sxooutsd,a or to the extim;ui:tbront
of the Sndebtadriasa so funned therM7y. But it to
further nrovided that the molder or arsLd bonds or
o x y one of am-.* ehal l be grog of ed pro t sint o to
:�11 the :irht a -wd remedies of the molder or holders
of the original 4obts :�.uthOrlred to be funded bb"in.
SxCTrON Iv
That for the pvtrpeise of Ore—Sling a gll akin,
fund for the pent extimraiFibmant of the f ox*-
going banded debt, prinotpal and interest, ram all
seed eTsty part of *Me, there in -A*Mby levied, sew
theme *hall be assessed, and rollaoted rip proviand by
Sat, -m ea!>nuil, dirt ll, upeoial# and v'-lorom tax for
tbo year 1934 :,nt for a aoh a moosaive year tihelre-
..fter durIV the life of -scold banded debt, or -qq
pa.vt thereof, of easoven, (7) cents (or zo nwh -.hereof
,,3 mriy be necessary and4. P-dwau't.te& be it morel.or lose),
on e►vory one handred #$20O.Co) dellx" of property
valuation, reaf►l, persoml rjA ulxol, mbjoot to taxn-
tion mnd not exmpt theerefram by the vonstitutian nAi
laws of the St:-.ta of Ttix7v s situntedx and owned in the
Olty of Fort Worth on the first lay of 3Wr4e.Vy,
and on the first day of J:num.ry o every year there-
rxfter Until saki debt represanted by solid borAa and
Ocupon intearent notes ahiall have been fully paid "
sxtir�,uished j rand if, eA -my tied, e►mb t-&x should
prove to be insuffloisnt, th*n It a2iL11 be the duty
of the Datird of Coftmlee-,Aomra or ether r,ovarninr body
of a::id City of Dart Worth to set :sport WA LNj;lrc-
r.r#fvt el =Ch adelit imnI nmoua't of r me7 Omt of the
�anes+rnl re+►wm*3 of smId olty are may be re 1ulette to
,AxpPlp the Jeflalarcy until all Intaremp"t on autataM-
IrA fiords ahmll Mmee baen paid and the ainkinC, Paril
stet-tblishod as revireel by the caonartitutlon of the
State of yoXma and ty ;he Obartex at the city of port
Worth,
f3IC3'!` ON V
xhat it ehss►U be the duty of the Bo&rri of
Ommisaloners of t%?3 City of Fart Worth, ared their
quaaeendorm in offlos, %W of the -(;vex=wsnt of e&,d
City of Fort Worth, in 1-3%-rLw twm for F,sne►ra1 Tar`
r,oseu for the City of Fort Woz rh for Us year 1D3e,
:tad icx every fju*0e»,11v0 yenr 4urtrg°-I they life of amid
debt, or any plat ther,�nf, to iwluder In nat4 levy
the rapex lal t." of *even oen$g on tIv, one hw4red
1011mr pro+o rty v_Zuation for ao uah thereof aA raV
bo requinite and nacoannxy* be it more or Free) iro-
vided for #n the next precedimr nation of this
c rd i moo s, myt r4ch tspoe ial tax n hEck 1 an no w a,mt
-1hvLtaoover be dieplaosd from "h tax 1%VY sari fry
the budgwt ►hiah may be framed by avid pity govera-
rLont In the conduct of its fiecal a fairri.
FMDTI(M V7
That this ipete lnl tax hereinbesfore provided
for,, mhcan oolleated, ahall be ;,"ad :mod T=ept is a
ompnrate ' and rna shall be deveAwl to th-a 1ALymant
of the Ifteroat ra4 thm ex*,1nqu1s1bnent of the rrin.•
Oipa1 of the bends he're:irL%hova mantiuned, a-rA
riot ba uoesdo. applied or diverted to ,vw other pure ae
or o-�Ject whatsoever. And the funds derived from ,mid
tax nix&11 be halti uA 11*4erd as separate ewaa $# on
t'hra bookis of tho aify, uM the prwoods bold and
f,apt by the city treasurer of raid city or cthe2r
custodian of its fuzAef ao aeVnrrter ^ distinct
maammts and see apeeolfled m emb on the books tberoof;
wid it .jlt-21 be teslaswful for thee trolLeeurer Of the amid
City of Fort Torth or other 3anful ouctodlim of Its
:undi to honor or reoar�nixee =y ahook, 'arrant, Araft
or order unaon awh Amde mor:t for tho r'urno-e7a sfor*-
auS.i.
PSMOR VII
That ai soon LR ooayonlamt after said fun4,•
ing bonds Oall have been prep red mtA ,signm.1 In the
mmnner prescribed ":y thl.-, axdInanceO they, the amid
bonds, with the record pertaining thsroto shall be
submitted to the 2ttorriay general of the St;sta of
Ton no, to,.,,-other with a certified a*-ny of thin ovd1n sm,
.%nd n at-atement of the total bs>:1d*A Indebtrednam4 of the
City of rort Worth, inolud#reg the h m1 ry herein a:a d
hereby autborlred, and the asneesed values of the
taaxasbl.e prgparty its the City of fart Worth, for his
a,prrovml -.a to the validity at name; ant after aald
attorney iYenaral ahmll have %pprovsd sasid bands th-0
they then and tbaroaftAr bee longed with the state
o omFt rollers for regi at rat ion.
FjW1ON Vi ii
That the city treasurer of the City of
Font Forty. or other lawful oustodlan of such fps,
ltsriz? the nanths of d c:xy i July of each and
every year duriry they We of a-Ad bonds, or any
part thereof, and not later than the 20th dap of each
of said months, shall transmit sufficient moneys out
of the interest funds hereinbefore created, for the pay-
ment of the semi-annual interest accreting on said bonds,
to the Hanover National Bank of the City of New York,
State of New York; and likewise remittanoes 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 adme.
SECTION 1%.
All ordinances and parts of ordinances in oftflict
herewith be and they are hereby repealed. Provided, how-
ever that all valid things heretofore done and performed
under and by virtue of ordinance No.991, hereinabove men-
tioned, and all rights growing out of same be and they are
hereby exospted from the so" of this repealing clause
and are preserved to the City of Port NorthL,
SECTION X.
That this ordinance shall take effect and be in full
force from and after its passage, and it is so ordained.
Approved as to foxes
Corporation auneel.
And the motion to adopt said ordinance having been
submitted to the Board of Commissioners by the mayor,pre-
siding at said meeting, all of the commissioners, including
the mayor voiced "aye' thereon and none voted Rno"; whereupon,
the ordinanoe was deola,red duly passed and adopted, by
unanimous vote of the Board of Commissioners.
B. Sr,oW,01ty secretary, of the City of Fort Worth,
Texas, d4 horeby oertify that the abolre and foregoing Is a tree
=d oorreot oapspp of the minutes of the proceedings of the
Board of Commieionere of the City of Fort Worth, Tessa, held
on the 1$t day of Xaroh,A. D. 1924.
Witness my hand at Fort Worth,Texua, this let day of Ma.roh,
A. D. I924.
Y s .