HomeMy WebLinkAboutOrdinance 1567 The City Council of the City of Fort 'Worth met
In recess session in the Council Chamber at the City hall
at nine-thirty o'clock a.m. Thursday, the 14th day of Febru-
ary, A. D. 1929, and upon roll call the following were present:
Wz. Bryce, Mayor, Allard Burton, Wm. Monnig, J. R. Penn, R. T.
Renfro, John N. sparks, and Ds,. W. R. Thompson, constituting
a quorum and majority of said board, and , I. L. Van Zandt
Jr., City Secretary-Treasurer, was in attendance at said meet-
ing„ and the following proceedings among other things were had
and done:
Councilman Burton, second6d by Councilman Thompson
mowed the adoption of the following ordinances
ORDINANCE NO, 1567
AN ORDINANCE AMENDING SECTIONS 1, 2, 4, and 5,
OF ORDINANCE NO. 1557 PASSED AND ADOPTED ON THE
23rd DAY OF JAXUARY A. D. 19290 PROVIDTIG FOR A
RATE OF INTEREST OF INSTEAD OF 4 71/4 PER
CENT PER ANNUM AND A TAX LEVY OF .40 CENTS INSTEAD
OF .38 CENTS ON THE ONF HUNDRED 3100.00) DOLLARS
PROPERTY Y-LUATION TO PAY THE INTEREST AND TO
CREATE A SINKING FUND TO PAY THE PRINCIPAL OF
THE B014DS AUTHORIZED TO BE ISSUED BY SAID ORDINANCE
AS THEY NATURE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT ORTH s
Section 1. That sections 10 2, 4, and 5 of Ordinance
No. 1557 passed at a regular meeting of the City Council of the
City of Fort Worth, Texas, on Wednesday, the 23rd day of Jan-
vary, A. D. 1929, be and the same are hereby amended, and after
being so amended shall read as followss
"BFCTION I
TbAt pursuftt to Section 19 of Chapter XW of the
Charter of the City of Fort Worth adopted by the quali-
fied 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 resident property tax paying voters of the
City of Port Worth at an eleotion held in said City
for such.parposes on the 10th day of January, A. D.
1928, that the municipal government of the City of
Fort Worth issue its corporate negotiable coupon boars
In the principal sum of one Eundred Thousand
($100,000.00) Dollars, this sum being in addition
to the One Hundred and Fifty ftousand 41500,000.00)
Dollars worth of said bonds heretofore issued by
an ordinance lawfully passed and adopted on the
28th day of March, A. D. 1928, and which ordinance
was amended by an ordinance lawfully passed and
adopted on the 12th day of April, A. D. 1928, by
the City Council pursuant to valid authority from
the property tax paying quAlified voters of said
City at a proper and regular election held on the
10th day of January, A. D„ 1928, out of an authorised
issue at said election of Three Hundred and Fifty
Thousand ($350,000.00) Dollars, and which authorized
issue is known as Series No. 55 and designated as
"Lake North Bridge Bonds" and the bonds to to be
issued shall be in the denomination of Cis Thousand
L1,000#00) Dollars each, dated March 1, 1929, bear-
interest at the rate of four and three,-fo6bths
(d ) per cent per annum, p ayable semi-annually on
the first day of September and March of each year
respectively, both principal and interest of said
bonds being payable at the Hanover National Bang
in the Cityy of New York, State of New York the
semi-annuallinterest being evidenced b7 interest
coupons attached thereto all of said bonds to be
executed for and on behalf of the City of Fort Worth
by the Mayor thereof, attested by its City Secretary-
Treasurer, with the seal of the City thereon dul)t
Impressed but the interest coupons to be executed
with this lithographed facsimile signature of the
Mayor and City Secretary-Treasurer of the City of
Fort Worth, each of said, bonds and coupons &hall
be negotiable and payable to bearer, and said bonds
shall be numbered in the way and manner hereinafter
set out, maturing five (5) years from the date thereof
and annually thereafter until the last maturing bond
shall become payable within forty (40) years from the
date thereof, and the bonds themselves, one hundred
(100) in number, shall be numbered consecutively
from one hundred fifty-on* (151) to two hundred fifty
(290) inclusive, and shall mature in the amounts and
manner hereinafter set out; said bonds shall be used
for the purpose of making permanent improvements by
constructing and building a bridge across Lake Worth
in said City in the vicinity of what is commonly known
as the "Nine Mile Bridge".
That the general form of said bonds and the coupons
thereto annexed and the interest added to said bonds
shall be executed substantially in the following forms
SECTION II
That the said bonds so to be issued by the City of
Fort Worth* amounting to one Hundred Thousand ($looj000.o0)
Dellara, out of the said authorised issue df Three Hundred
Fifty Thousand ($350,000.O0) Dollars shall be issued for
the purpose of constructing and builSing a bridge across
Lake Worth in said pity in the vtoinity of what is common-
ly Down as the "Dine Mile Bridge", and shall consist of
one hundred (100) bonds, numbered from one hundred fifty
one (161) to two hundred fifty (250) inclusive, and
shall bear interest at the rate of four and three fourths
(4 ) per cent per annua, payable semi-annually, as afore-
said; all of which said one hundred (100) bonds shall be
known as Series No. bb and shall be styled and designated
as "Lake North Bridge Bonds"; that all of said bonds,
comprising the sum total of One Hundred Thousand ($100 000.00)
Dollars shall become due and payable in their numerical order,
and they shall mature in the manner and amounts as set out
In the tabulated statement herewith attached, to�wlt:
OI" OF FORT SPORT$
PRIM IPAL MATURITIES.
$100;WO.00 LAKE WORM BRIDGE BMW
DATED nMH 1ST.% 1929.
WE MARCH 18T PRIM IPAL
MATURING
19334 2000.
36 200.
2000.
39 200.
41 2000.
2000.
45 2000.
2000,
46 4'L-- �0p,
49_.
50 3000.
51 3000.
52 53 300.
3000.
55 3000.
56
57 3000.
59 .
60 3000.
61 62 30W.
6�
6 5 �'
67 66 400.
668 4000
69 4000.
SECTION IV
That for the purpose of creating a sinking fund
for the payment and complete extinguishment of the fore-
going 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, direst
special ad valorem tax for the year 1929# and every suc-
cessive year thereafter during the life of said bonded
debt, or any po t thereof, of .40 cents (or such an
amount an may be ndseaaar and adequate be it more or
less) on every One Hw#r@4 ($100.00) Dollars of property
valuation, real personal Amd mizedasubfect to taxation
and not exempt therefrom wader the Constitution and lags
of the State of Texas, situated and owned in the City of
Fort Forth on the lot day of January 1989, 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 insuffietent, then it shall be the ou du�y
of the City Council or any other governing body of tie
City ofFort 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 Consti-
tution of the State of Texas and the Charter of the City
of Port Worth.
" SECTION V
That it shall be the duty of the City Council of
the City of Fort Worth and its successors, and of the
government of the City of FortWorth, by levying t4xes
for general purposes for the said City of Fort North
for the year 19290 and for every successive year during
the life of said bonded debt or any part thereof, to
include in such levy the spacial tax of .40 cents on
the One Hundred ($100.00) Dollars property valuation
(or so much thereof as may be requisite and necessary)
provided for in the next preeedin section of this or-
dinance, and such special tax shall on no account what-
soever be displaced therefrano "
Bection 8. This ordinance shall take effect and
be in force and effect from and after the date of its passage,
and it is so ordained.
APPROVED AS TO FORM:
7
Mayor Wm. Bryce, presiding at said meeting, sub-
mitted the nation to adept said Ordinance and all of the
Councilmen, including the Mayor, voted "aye" thereon and
none voted "no", and the motion to adept the ordinance
was declared to be unanimously passed and adopted.
THE SPATE OF TEXAS
COUNTY TY OF TARRANT 0
It 1, L. Van Zandt, Jr., City Sewatary-Treas-
urer of the City or Fort worth, do hereby certify that
the above and foregoing ordinance is a true and correct
copy of ordinance Mo, 1567, and that same was umni.mous-r
ly passed and adopted by the City Council of the City of
Fort north, Texas, at a recess session held in the Coup-
oil Chamber at the City Ibll on Thursday the loth day
of Pabruary, A. D. 1929.
WITNE38 my hand at Fort Worth, Texas, this the
lsth day of February, A. D. 1929.
City Secretary easur®r of
the City of F rt Worth