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HomeMy WebLinkAboutOrdinance 1896 ORDINANCE NO, AN ORDINANCE AMDING SECTIONS I, IV AND V OF ORDINANCE NO. 1894 PASSED ON THE 24TH DAY OF JANUARY, A. D. 1936, BY ADDING TO THE SECOND PARAGRAPH IN THE BOND FORM TBE FOLLOWING WORDS: "PURSUANT TO AN ELECTION FATLY CALLED AND HELD AT WHICH ONLY QUALIFIED ELECTORS WHO OWNED TAX- AM E PROPERTY IN THE CITY AND WHO HAD DULY RENDERED THE SAME FOR TAXATION WERE PEFdff TSD TO VOTE"; AND PROVIDING FOR A TAX LEVY OF ♦2997 CENTS INSTEAD OF .2968 OEM ON TEE $100.00 PROPERTY VALUATION TO PAY THE INTEREST AND CREATE A ShaING FUND TO PAY THE PRINCIPAL OF TAE BONDS AUMORIZED TO BE ISSUED BY SAID ORDINANCE AS SAM MATURES. BE IT ORDAINED BY T12E CITY COUNCIL OF TEE CITY OF FCFtT WORTH, TEXAS: SECTION I. That Sections I, 1V and V of Ordinance No. 1894, passed at a recessed meeting of the City Council of the City of Fort Worth, Texas, on Friday, the 24th day of January, A. D. 1936, be and the same are hereby amended, and after being so amended shall read as follows: "SECTION I. That pursuant to Section 19 of Chapter XXV of the Charter of the City of Fort Worth, adopted by the qualified voters within the corporate limits of said City on the llth day of December, A. D. 1924, and the laws and Constitution of the State of Texas, and pursuant to a vote of the qualified electors of the City of Fort Worth, rho own taxable property in the City of Fort Worth, Texas, and who have duly rendered the same for taxation, at an election held in said City for such purpose on the 3rd day of September, A. D. 1935, that the munici- pal government of the City of Fort Worth issue its corporate negotiable coupon bends .in the principal sum of Ninety-one Thousand Dollars ($91,000.00), which bonds were authorized to be issued at a proper elec- tion held on the 3rd day of September, A. D. 1935, and which bonds are known as Series 63, and designated as "Sewage Disposal Plant Improvement Bonds", and the bonds so to be issued shall be in the denomination of One Thousand Dollars ($11000.00) each, dated Jaaaary 1, 1936, bearing interest at the rate of three and one-half per oent (3-1/2%) per annum, payable semi-annually on the first day of July and January 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 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 signature of the Mayor and City Secretary of the City of Fort Worth, each of said bonds and coupons shall be negotiable and payable to bear- er, and said bonds shall be numbered in the way and manner hereinafter set out, maturing in numerical order one (1) year from the date thereof, and annually thereafter until the last maturing bond shall become pay- able within thirty (30) years from the date thereof, and the bonds themselves, ninety-one (91) in number, shall be numbered consecutively from one (1) to ninety-one (91), inclusive, and shall mature in the amount and manner hereinafter set out; said bonds shall be used for the purpose of making permanent improvements by improving, extending and enlarging the sewage disposal plant of 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 followiug form: NO. UNITED STATES OF AMIGA STATE OF TEXAS, COUNTY OF TARRANT SERIES 63 OITT OF FORT WORTH ---0000000--• Sewage Disposal Plant Improvement Bond of the Oity of Fort Worth issued for the purpose of improving, extending and enlarging the sewage disposal plant of said City. KNOW ALL MEN BY THESE PRESENTS: That the government of the City of Fort Worth, a municipal corporation, duly created under the laws of the State of Texas, hereby acknowledges itself to owe, and for value received proposes to pay to bearer, ONE THOUSAND DOLLARS ($1,000.00) in lawful money of the United States of America, on the first day of January, A. D. 19 , together with interest thereon at the rate of three and one-half per centum (3-1/2%) per anon, payable semiannually on the first day of July and January 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, N. Y., 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 ninety-one (91) bonds numbered consecutively from one (1) to ninety-one (91), inclusive, each in the denomination of One Thousand Dollars ($1,000.00), amount- ing in the aggregate to the sum of Ninety.-one Thousand Dollars ($91,000.00) issued for the purpose of improving, extending and enlarging the sewage disposal plant of the City of Fort North, under and by virtue of the Constitution and laws of the State of Texas, the Charter of the City of Fort Worth, and an ordinance lawfully passed and adopted by the City Council of the City of Fort Worth, pursuant to an elec- tion duly called and held at which only qualified electors who owned taxable property in the City and who had duly rendered the same for taxation were permitted to vote* It is hereby further expressly represented, recited and covenanted by the government of the City of Fort forth, to and with each and every holder of said bonds or any one of them, that all acts, conditions and things required by the laws of the State of Texas, and of the Charter and Ordinances of the City of Fort Worth, precedent to and in the issuance of this bond, have been done, have happened, and have been performed in proper and lawful time, form and manner as prescribed by law, so as to make this bond a legal, binding and valid obligation of the City of Fort Worth, and that provision has been made for the levy and collection of a direct annual tax on all taxable property in the City of Fort Worth, and that such tax has been levied In a sufficient amount for the payment of the principal and interest of this bond at the respective maturity dates thereof, and that the total indebtedness of said City, including this bond and the issue of which it is a component part, does not exceed any constitutional or statutory limitation. IN TESTIMONY MMREOF, the City of Fort Worth, in the State of Texas, has executed this bond by causing it to be signed by its Mayor and attested by the City Secretary, with the seal of the City thereunto duly impressed, and has caused the annexed interest coupons to be exe- outed with the facsimile signa#$re of the Mayor and City Secretary, and dated as the first day of January, A. D. 1936. CITY OF FORT WORTH, TS1W BY Mayor --- ATTEST: City Secretary (FORM OF COUPON NOTE) NO. The City of Fort Worth, in the State of Texas, promises to pay to Bearer (0 ), on the let day of ,19�, at the Central Hanover Bank and Trust Company in the City of New York, N. Y., for interest due that day on its Sewage Disposal Plant Improvement Bond, Series 63, dated Jamiary 1, 1936, and numbered CITY OF FORT WMM, TEXAS Mayor ATTEST: Oity Sscret=7 (CM=ICATE OF COMPMLL3R) OFFICE OF OOM MOLLER, STATE OF TEXAS. I hereby certify that there is on file and of record in my office, 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 Con- stitution and laws of the State of Texas, and that it is a valid and binding obligation upon said City of Fort Worthy 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. 1936. Oomptroller of Public Acoonnts of the State of Texas. *SECTION IV. That for the purpose of creating a sinking find for the payment and complete extinguishment of the foregoing bonded debt, principal and interest, and all and every part of same, there is hereby levied and there shall be assessed and collected as provided by law, set apart and appropriated for the said purpose, an annual, direct special ad valorem tax for the year 1936, and every successive year thereafter during the life of said bonded debt or any part thereof of .2997 cents (or such an amount as may be necessary and adequate be it more or lose) on One Hundred Dollars ($100.00) of property valuation, real, personal and mixed, subject to taxation and not exempt therefrom under the Constitution and laws of the State of Texas, situated and owned in the City of Fort Worth on the first day of January, 1936, and on the first day of January of each year thereafter until said debt represented by said bonds and coupon interest notes shall have been fully paid, and if, at any time, such tax should be insufficient, then it sha11 be the duty of the City Council or any other governing body of the City of Fort Worth, to set apart and appropriate such additional amount of money out of the general revenues of the said City, as may be requisite to supply the deficiency until all interest shall have been paid and the sinking fund established as required by the Constitution of the State of Texas and the Charter of the City of Fort Worth. "SgCTION 9. That it shell be the duty of the City Council of the City df Fort Worth and its successors, and of the govermment of the City of Fort Worth, by levying taxes for general purposes for the said City of Fort Worth for the year 1936, and for every successive year during the life of said bonded debt or any part thereof, to include in such levy the special tax of .2997 cents on the One Hundred Dollars ($100.00) property valuation (or so much thereof as may be requisite and necessary) provided for in the next preceding section of this ordinance, and such special tax shall on no account whatsoever be displaced therefrom." SECTION II. This ordinance is hereby declared to be cumulative of all other ordinances of the City of Fort North with reference to the issuance of its negotiable coupon bonds, except to the extent that the same are in conflict with the provisions of this ordinance. SECTION III. This ordinance shall take effect and be in force 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 pity of Fort worth, Texas. APPROVED AS TO FOIRM AND U ALITY: City Attorney of the City of Fort worth, Texas. ORDINANCE No. Title! Date 1 City Secretar'