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HomeMy WebLinkAboutOrdinance 3599 9 n ORDINANCE NO. 3599 AN 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 THREE MILLION, FIVE HUNDRED AND SEVENTY-FIVE THOUSAND DOLLARS ($3,575,000.00), IN ADDITION TO THE SUM OF SEVENTEEN MILLION, FOUR HUNDRED AND FIFTY THOU- SAND DOLLARS ($17,450,000.00) WORTH'OF SAID BONDS HERETOFORE ISSUED OUT OF AN AUTHORIZED ISSUE OF TWENTY-THREE MILLION, FOUR HUNDRED AND FIFTY THOUSAND DOLLARS ($23,450,000.00) WORTH OF SAID BONDS, AND BEING KNOWN AS SERIES 84 AND DESIGNATED AS "STREET IMPROVEMENT BONDS," TO BE ISSUED FOR THE PURPOSE OF MAKING PERMANENT CITY IMPROVEMENTS BY CONSTRUCTING, IMPROVING AND EXTENDING THE STREETS, THOROUGHFARES AND STORM SEWERS OF SAID CITY, INCLUDING IN SUCH PERMANENT PUBLIC IMPROVEMENTS THE STRAIGHTENING, WIDENING, PAVING, GRADE SEPARATION, LIGHTING AND DRAINAGE 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 MARCH 1, 1957, MATURING FROM ONE (1) TO TWENTY-FIVE (25) YEARS FROM THE DATE THEREOF, THE FIRST ONE MILLION, ONE THOUSAND DOLLARS ($1,001,000.00) WORTH OF SAID BONDS TO BEAR INTEREST AT THE RATE OF FOUR PER CENT (4%) PER ANNUM, AND THE NEXT TWO MILLION, FIVE HUNDRED AND SEVENTY FOUR THOUSAND DOLLARS ($2,574,000.00) WORTH OF SAID BONDS TO BEAR INTEREST AT THE RATE OF THREE AND ONE-QUARTER PER CENT (3-1f4%) PER ANNum, SAID IN- TEREST 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 AND APPROVED AS TO FORM AND LEGALITY BY THE CITY ATTORNEY; PROVIDING FOR AN ADEQUATE TAX LEVY FQR THE PAYMT 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 15th day of August, A. D. 1951, pursuant to the au- thority 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 Con- stitution of the State of Texas, the City Council of the City Q£ Fart Worth, Texas, by an ordinance of that date directed the submission to the qualified electors who own taxable property in the City of Fort Worth, Texas, and who have duly rendered the same for taxation, at an election to be held in said City on the llth day of September, A. D. 1951, of the right, power and au- thority of the City Council of the City of Fort Worth, Texas, to issue nego- tiable coupon bonds of the corporate government of said City in the prin- cipal sum of Twenty-three Million, Four Hundred and Fifty Thousand Dollars ($23,450,000.00) for the purpose of making permanent city improvements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widening, paving, grade separation, lighting and drain- age of said streets and thoroughfares, and acquiring the necessary lands therefor for said City; and, WHEREAS, in conformity with said ordinance, the Mayor of said City did make proclamation of said election and fined the date thereof for the llth day of September, A. D. 1951; and, WHEREAS, said election order and proclamation thereof were prepared and published in the manner and for the time prescribed in said ordinance; and, WHEREAS, on the llth day of September, A. D. 1951, 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, WHEREAS, the official ballot on said occasion, in conformity with the ordinance of the City Council hereinabove mentioned and in accordance 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 Twenty-three Million, Four Hundred and Fifty Thousand. Dollars ($23,450,000.00) for the purpose of making permanent city im- provements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widening, 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 become pay- able within forty (40) years from the date thereof bearing interest at a rate not to exceed four per cent (45 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 sink- ing fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Street Improvement Bonds. AGAINST the Issuance of Street Improvement Bonds. II. Shall the City of Fort Worth, Teas, through its City Council, issue its negotiable coupon bonds in the principal sum of One Million, Seven Hundred and Fifty Thousand Dollars ($1,750,000.00) for the purpose of making permanent city improvements by estab- lishing, 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 annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the in- terest on said bonds and create a sib fund sufficient to re- deem 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 Eight Hundred. Thousand Dollars ($800,000.00) for the purpose of making permanent city improvements by constructing, building and equip- ping additional incinerators 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 sink_ina fund sufficient to redeem said bonds at the ma- turity thereof? FOR the Issuance of Incinerator Bonds. AGAINST the Issuance of Incinerator Bonds. Iv. 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 making permanent city improvements, to wit, constructing, building and equipping fire stations and improving and extending the city fire alarm system, 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 Fire Protection Bonds. AGAINST the Issuance of Fire Protection Bonds. V. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sun of Seven Hundred Thousand Dollars ($700,000.00) for the purpose of making permanent city improvements by constructing, building and equip- ping a police station and jail building, and acquiring tbG neces- sary 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 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, tbvough its City Council, issue its negotiable coupon bonds in the principal sum of Two Hundred Thousand Dollars ($200,000.00) for the purpose of making permanent city improvements in providing a recreation center building, to wit, by constructing, gilding and equipping a chil- dren's museum for said City, and acquiring 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 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 sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Children's Museum Bonds. AGAINST the Issuance of Children's Museum Bonds. VII. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of One Million Dollars ($1,000,000.00) for the purpose of making permanent city improvements by purchasing, acquiring 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 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 maturity thereof? FOR the Issuance of Park Bonds. AGAINST the Issuance of Park Bonds. VIII. Shalt 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 making permanent city improvements by purchasing, acquiring and improv- ing 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 semi-annually, and levy a sufficient tax to pay the in- terest on said bonds and create a sinking fund sufficient to re- deem said bonds at the maturity thereof? FCR the Issuance of Playground and Recreation Park Bonds. AGAINST the Issuance of Playground and Recreation Park Bonds.; and, WHEREAS, in the election held in said City of Fort Worth, Texas, on the llth day of September, A. D. 1951, 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 rendered the same for taxation, to issue said bonds for the purposes aforementioned and to make same valid and binding obligations of the corporate government 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 27th day of February, A. D. 1952, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the princi- pal sum of One Million, Two Hundred and Fifty Thousand Dollars ($1,250,- 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 18th day of February, A. D. 1953, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the princi- pal sum of Two Million, Four Hundred and Seventy-five Thousand Dollars ($2,475,000.00); and, WHEREAS, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the loth day of March, A. D. 1954, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the princi- pal sum of Four Million, Five Hundred Thousand Dollars ($4,500,000.00); and, WHEREAS, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the 23rd day of February, A. D. 1955, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the princi- pal sum of Four Million, Three Hundred Thousand Dollars ($4,300,000•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 29th day of February, A. D. 1956, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the princi- pal sum of Four Million, Aire Hundred and Twenty-five Thousand Dollars ($4,925,000.00); and, WHEREAS, all of the above described bonds were issued out of an au- thorized issue of Twenty-three Million, Four Hundred and Fifty Thousand Dollars (423,450,000.00) worth of said bonds, which bonds were authorized to be issued by the property taxpaying qualified voters of said City at an election held on the 11th day of September, A. D. 1951, and all of them be- ing a part of and known as Series 84, 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 reposed in it by law, that Three Million, Five Hundred and Seventy-five Thousand Dollars ($3,575,000•00) worth of said bonds, in addition to the Seventeen Million, Four Hundred and Fifty Thousand Dollars ($17,450,000.00) worth of said bonds heretofore issued and sold out of the authorized issue of Twenty- three Million, Four Hundred and Fifty Thousand Dollars ($23,450,000.00), be issued in bonds at this time, said bonds to be issued being a part of Series 84 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, is- sue its corporate negotiable coupon bonds in the principal sum of Three Million, Five Hundred and Seventy-five Thousand Dollars ($3,575,000.00), this amount being in addition to the One Million, Two Hundred and Fifty Thousand Dollars ($1,250,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 27th day of February, A. D. 1952, the Two Million, Four Hundred and Seventy-five Thousand Dollars ($2,475,000.00) worth of said bonds heretofore issued by an ordinance law- fully passed and adopted on the 18th day of February, A. D. 1953, the Four Million, Five Hundred Thousand Dollars ($4,500,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the loth day of March, A. D. 1954, the Four Million, Three Hundred Thousand Dollars ($4,300,000.00) worth of said bonds heretofore issued by an ordi- nance lawfully passed and adopted on the 23rd day of February, A. D. 1955, and the Four Million, Nine Hundred and Twenty-five Thousand Dollars ($4,- 925,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 29th day of February, A. D. 1956; that the bonds above described were issued and sold out of an authorized issue of Twenty- three Million, Four Hundred and Fifty Thousand Dollars ($23,450,000.00), authorized to be issued at a proper election held on the 11th day of Septem- ber, A. D. 1951, which bonds are known as Series 84, and designated as "Street Improvement Bonds"; that the bonds so to be issued shall be in the denomination of One Thousand Dollars ($1,000.00) each, dated March 1, 1957, the first ,One Million, One Thousand Dollars ($1,001,000.00) worth of said bonds, maturing from 1958 to 1964, inclusive, to bear interest at the rate f of four per cent (4%) per annum, and the next Two Million, Five Hundred and Seventy-four Thousand Dollars ($2,574,000.00) worth of said bonds, ma- turing from 1965 to 1982, inclusive, to bear interest at the rate of three and one-quarter per cent (3-1/41%) per annum, payable semi-annually on the first day of September and March of each year respectively, both principal and interest of said bonds being payable at The Hanover Bank, in the Borough of Manhattan, City and State of New York, the semi-annual interest being evidenced by interest coupons attached thereto; that each of said bonds shall be executed for and on behalf of the City of Fort Worth, Texas, by the Mayor thereof, attested by the City Secretary, and approved as to form and legality by the City Attorney, with the seal of the City thereon duly impressed, and the interest coupons shall be executed with the lithographed facsimile signatures of the Mayor and City Secretary of the City of Fort Worth; 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 herein- after set out, so that the last maturing bond shall become payable within twenty-five (25) years from the date thereof, and the bonds themselves, thirty-five hundred and seventy-five (3,575) in number, shall be numbered consecutively from seventeen thousand, four hundred and fifty-one (17,451) to twenty-one thousand, twenty-five (21,025), inclusive, and shall mature in the amount and manner hereinafter set out; and that said bonds shall be issued for the purpose of making permanent city improvements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widening, 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 Three Million, Five Hundred and Seventy-five Thousand Dollars ($3,575,000.00), in addition to the sum of Seventeen Million, Four Hundred and Fifty Thousand Dollars ($17,450,000.00) worth of said bonds heretofore issued out of the said authorized issue of Twenty-three Million, Four Hun- dred and Fifty Thousand Dollars ($23,450,000.00), shall be issued for the purpose of making permanent city improvements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widening, paving, grade separation, lighting and drainage of said streets and thorough- fares, and acquiring the necessary lands therefor for said City, and shall consist of thirty-five hundred and seventy-five (3,575) bonds numbered from seventeen thousand, four hundred and fifty-one (17,451) to twenty-one thou- sand, twenty-five (21,025). inclusive, and the first One Million, One Thou- sand Dollars ($1,001,000.00) worth of said bonds, maturing from 1958 to 1964, inclusive, shall bear interest at the rate of four per cent (4%) per annum, and the next Two Million, Five Hundred and Seventy-four Thousand Dollars ($2,574,000.00) worth of said bonds, maturing from 1965 to 1982, inclusive, shall bear interest at the rate of three and one-quarter per cent (3-1/4%) per annum, payable semi-annually as aforesaid, all"of which said thirty-five hundred and seventy-five (3,575) bonds shall be known as Series 84 and shall be styled and designated as "Street Improvement Bonds"; and that all of the said bonds, comprising the sum total of Three Million, Five Hundred and Seventy-five Thousand Dollars ($3,575,000.00), shall mature in numerical order in the manner and amounts as set out in the tabulated statement here- with attached, to wit: SECTION III. That the said bonds are hereby authorized to be sold to the beat ad- vantage, 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 north 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 respectively ma- ture, there is hereby levied for the year 1957 and for each succeeding 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 prop- erty in the City of Fort North, Texas, liable to taxation, a straight ad valorem tax of 4.71159 cents on the one hundred dollar valuation 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 prin- cipal, it shall be the duty of the City Council to so increase said rate that an amount shall be realized from said tax sufficient to meet the re- quirements aforesaid for interest and annual installments of principal of said bonds; and it is hereby promised and agreed that such increase of tax shall be made, if required for the purposes named, as often as it may be necessary. There shall be assessed and collected annually a sufficient aum to pay the interest on such bonds and to create a s;nki�nn fund of at least two percentum (2%) of the principal debt herein authorized. SECTION V. That it shall be the deity of the City Council of the City of Fort North, Texas, and its successors, and of the government of the City of Fort North, in levying taxes for general purposes for the said City for the year 1957 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 4.71159 cents on the one hundred dollar property valuation (or so much thereof as may be requisite and necessary, or in addition thereto as may be required), provided for in the next preceding section of this ordinance, and said special tax shall on no account Whatever be displaced therefrom. SECTION VI. That the special tax hereinbefore provided for, when collected, shell be placed and kept in a separate fund and shall be devoted to the payment of the interest and the extinguisheent 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 purpose or object Whatsoever; and the funds derived from said taut 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 prepared and signed in the manner prescribed by the ordinance, they shall be sub- mitted to the Attorney General of the State of Texas, together with a cer- tified copy of this ordinance and a statement of the total bonded indebted- ness of the City of Fort Worth, including the bonds herein and hereby au- thorized and the assessed value of the tamable property in said City, for his approval, and none of said bonds shall be negotiated, sold or trans- ferred until the same shall have received the official sanction of the said Attorney General as prescribed by law, and thereafter said bonds shall be placed with the State Comptroller of Public Accounts for registration. SECTION VIII. That the City Treasurer of the City of Fort Worth, or other lawful custodian of such fund, daring the months of August and February 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 sufficient money out of the interest funds hereinbefore created for the payment of the semi-annual interest accruing on said bonds to The Hanover Bank, in the Borough of Manhattan, City and State of New York, and likewise proper re- mittance 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 IX. That this ordieance shall take effect and be in full force and ef- fect from and after the date of its passage, and it is so ordained. I F v r of the Ci of Fort Worth, Texas ATTEST: ity ecretary of the City of ort Worth, Texas APPROVED AS TO FORM AND LEGALITY: City Attorney of the City of Fort Worth, Texas CITY OF FORT WORTH PRINCIPAL MATURITIES $3,575,000•00 STREET IMPROVEMENT BONDS DATED MARCH 1, 1957 DUE MARCH 1ST PRINCIPAL MATURING 1958 $143,000.00 1959 143,000.00 1960 143,000.00 1961 143,000.00 1962 143,000.00 1963 143,000.00 1964 143,000.00 1965 143,000.00 1966 143,000.00 1967 143,000.00 1968 143,000.00 1969 143,000.00 1970 143,000.00 1971 143,000.00 1972 143,000.00 1973 143,000.00 1974 143,000.00 1975 143,000.00 1976 143,000•00 1977 143,000.00 1978 143,000.00 1979 143,000.00 19BO 143,000.00 19B1 143,000.00 1982 143,000.00 NO. UNITED STATES OF AMERICA STATE CF TEXAS, COUNTY OF TPYMM smm 84 CITY OF FORT WORTH - 00000-- Street Improvement Bond of the City of Fort Worth issued for the purpose of making permanent city improvements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, videning, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the neces- sary lands therefor. KNOW ALL MELD 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 it- self to ove, 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 March, A. D. 19 together with interest thereon at the rate of percentum ( %) per annum, payable semi-annually on the first day of September and March in each year, on presentation and surrender of the an- nexed interest coupons as they severally fall due. Both the principal and interest of this bond are payable at the office of The Hanover Bank, in the Borough of Manhattan, City and State of Now 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 Zdrty-five hundred and seventy-five (3,575) bonds numbered consecutively from seventeen thousand, four hundred and fifty-one (17,451) to twenty-one thousand, tweatyfive (21,025), in- clusive, in the denomination of One Thousand Dollars ($1,000.00) each, amounting in the aggregate to the sum of Three Million, Five Hundred and Seventy five Thousand Dollars ($3,575,ODO•00), issued for the purpose of making permanent city improvements by constructing, improving and extend- ing the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widening, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor, under and by virtue of the Con- stitution 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 llth day of September, A. D. 1951. 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 by 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 per- formed 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 taut 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 constitu- tional or statutory limitation. IN TESTIMONY WHMMW, the City of Fort Worth, in the State of Texas, has executed this bond by causing it to be signed by its Mayor, attested by the City Secretary, and approved as to form and legality by the City Attorney, with the seal of the City thereunto duly impressed., and has caused the annexed interest coupons to be executed with the facsimile sig- natures of the Mayor and City Secretary, and has caused this bond to be dated as the first day of March, A. D. 1957. CITY CHI FORT WORTH, TEXAS BY mayor - ATTEST: city Secretary (FORM OF COUPON NOTE) The City of Fort Worth, in the State of Texas, promises to pay to Bearer ($ on the lot day of 19 , at The Hanover Beak, in the Borough of Man- hattan, City and State of New York, for interest due that day on its Street Improvement Bond, Series 84, dated March 1, 1957, and numbered CITY OF FORT WORTH, TEXAS ATTEST: BY Mayor City Secretary (CERTIFICATE OF CCMPTROLLNR) OFFICE OF COMPTROLLER, STATE OF TEXAS. I do 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 Constitution and laws of the State of Texas, and that it is a valid and binding obligation upon said City Of Fort Worth, 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 (CERTIFICATE OF CITY ATTORNEY) The within bond is hereby approved as to form and legality. City Attorney ORDINANCE No. �� Title Adopted _ '2 G' Final Adoption Publishe Filed - Day of L -City Secrets P. O.No.42978.0