HomeMy WebLinkAboutOrdinance 3608 ORDINANCE NO. 3608
AN ORDINANCE AMENDING SECTION 401, ARTICLE IV OF ORDINANCE
NO. 3597, BEING AN ORDINANCE AUTHORIZING THE ISSUANCE OF
REVENUE BONDS OF THE CITY OF FORT WORTH IN THE AGGREGATE
PRINCIPAL AMOUNT OF ONE MILLION NINE HUNDRED AND FIFTY
THOUSAND DOLLARS ($1,950,000.001 OUT OF AN AUTHORIZED ISSUE
OF FIFTEEN MILLION DOLLARS ($15,000,000.00); PROVIDING AN
EFFECTIVE DATE; AND PROVIDING THE REPEAL OF THE PROVISIONS
OF OTHER ORDINANCES IN CONFLICT HEREWITH.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
ARTICLE I.
Section 401, Article IV of Ordinance No. 3597, passed and adopted
by the City Council of the City of Fort Worth on Wednesday, the 27th day
of February, 1957, is hereby amended, and after being so amended shall
read as follows:
"Section 401. Where used in this ordinance (1) the
term 'Systems' shall be deemed to include all properties
of every nature owned or used by the City and used or use-
ful in the operation of the City Water System or the City
Sewer System, including real estate, personal and intangible
properties, whether lying within or without the boundaries
of the City, and shall include all improvements, additions
and extensions which may hereafter be made to said properties
or Systems; (2) the term 'Operating Expenses' shall mean
the reasonable and proper expenses of operating and main-
taining the Systems, including, without limiting the generality
of the foregoing, expenditures for salaries, labor, materials,
interest, repairs and extensions necessary to enable the Sys-
tems to render efficient service, and every proper item of ex-
pense, but such repairs and extensions shall be limited to
those which in the judgment of the City Council are necessary
to keep the Systems in operation and to render adequate service
to the City and the inhabitants thereof, or necessary to meet
some physical accident or condition which would otherwise im-
pair such Systems and the Revenues thereof; (3) the term
'Revenues' shall mean the gross revenue and income derived by
the City from the operation of the Systems; (4) the term 'Net
Revenues' shall mean the amount by which the aggregate of the
Revenues received by the City in any year shall exceed the
amount required to pay the Operating Expenses of such year;
(5) the term 'Issued Bonds' shall mean the $2,000,000.00 Water
and Sewer Revenue Bonds dated March 1, 1949, issued pursuant to
the ordinance entitled 'An ordinance providing for the issuance
of revenue bonds of the City of Fort Worth in the aggregate
principal amount of Two Million Dollars ($2,000,000.00) to
finance the improvement, extension and enlargement of'the
City's Water and Sewer Systems; providing for the payment of
such bonds solely from the revenues of such Systems; pledging
a portion of such revenues to such payment; entering into cer-
tain covenants and agreements with respect to the operation
of such Systems and the application of the revenues derived
therefrom; and repealing all ordinances in conflict herewith,'
adopted by the City Council on April 20, 1949, the $2,650,000.00
Water and Sewer Revenue Bonds dated September 1, 1949, is-
sued pursuant to the ordinance entitled 'An ordinance pro-
viding for the issuance of revenue bonds of the City of Fort
Worth in the aggregate principal amount of Two Million, Six
Hundred and Fifty Thousand Dollars ($2,650,000.00), in addi-
tion to an installment of Two Million Dollars ($2,000,000.00)
of revenue bonds heretofore issued and sold out of an au-
thorized issue of Eighteen Million Dollars ($18,000,000.00),
to finance the improvement, extension and enlargement of the
City's Water and Sewer Systems; providing for the payment of
such bonds solely from the revenues of such Systems; pledging
a portion of such revenues to such payment; entering into
certain covenants and agreements with respect to the opera-
tion of such Systems and the application of the revenues de-
rived therefrom; and repealing all ordinances in conflict
herewith,' adopted by the City Council on September 14, 1949,
the $6,000,000.00 Water and Sewer Revenue Bonds dated March 1,
1951, issued pursuant to the ordinance entitled 'An ordinance
providing for the issuance of revenue bonds of the City of Fort
Worth in the aggregate principal amount of Six Million Dollars
($6,000,000.00), in addition to two installments aggregating
Four Million, Six Hundred and Fifty Thousand Dollars ($4,650,-
000.00) of revenue bonds heretofore issued and sold out of an
authorized issue of Eighteen Million Dollars ($18,000,000.00),
to finance the improvement, extension and enlargment of the
City's Water and Sewer Systems; providing for the payment of
such bonds solely from the revenues of such Systems; pledging
a portion of such revenues to such payment; entering into cer-
tain covenants and agreements with respect to the operation
of such Systems and the application of the revenues derived
therefrom; and repealing all ordinances in conflict herewith,'
adopted by the City Council on February 28, 1951, which ordi-
nance was amended on March 7, 1951, the $4,250,000.00 Water
and Sewer Revenue Bonds dated March 1, 1952, issued pursuant
to the ordinance entitled 'An ordinance providing for the is-
suance of revenue bonds of the City of Fort Worth in the aggre-
gate principal amount of Four Million, Two Hundred and Fifty
Thousand Dollars ($4,250,000.00), in addition to three in-
stallments aggregating Ten Million, Six Hundred and Fifty Thou-
sand Dollars ($10,650,000.00) of revenue bonds heretofore is-
sued and sold out of an authorized issue of Eighteen Million
Dollars ($18,000,000.00), to finance the improvement, exten-
sion and enlargement of the City's Water and Sewer Systems;
providing for the payment of such bonds solely from the reve-
nues of such Systems; pledging a portion of such revenues to
such payment; entering into certain covenants and agreements
with respect to the operation of such Systems and the applica-
tion of the revenues derived therefrom; and repealing all ordi-
nances in conflict herewith,' adopted by the City Council on
February 27, 1952, the $3,100,000.00 Water and Sewer Revenue
Bonds dated March 1, 1953, issued pursuant to the ordinance
entitled 'An ordinance providing for the issuance of revenue
bonds of the City of Fort Worth in the aggregate principal
amount of Three Million, One Hundred Thousand Dollars ($3,-
100,000.00), in addition to four installments aggregating
Fourteen Million, Nine Hundred Thousand Dollars ($14,900,000.00)
of revenue bonds heretofore issued and sold out of an authorized
issue of Eighteen Million Dollars ($18,000,000.00), to finance
the improvement, extension and enlargement of the Cityjs Water
and Sewer Systems; providing for the payment of such bonds
solely from the revenues of such Systems; pledging a portion
of such revenues to such payment; entering into certain cove-
nants and agreements with respect to the operation of such Sys-
tems and the application of the revenues derived therefrom;
and repealing all ordinances in conflict herewith,' adopted
by the City Council on February 18, 1953, the $3,000,000.00
Water and Sewer Revenue Bonds dated March 1, 1954, issued
pursuant to the ordinance entitled 'An ordinance providing
for the issuance of revenue bonds of the City of Fort Worth
in the aggregate principal amount of Three Million Dollars
($3,000,000.00) out of an authorized issue of Fifteen Million
Dollars ($15,000,000.00), in addition to Eighteen Million
Dollars ($18,000,000.00) of revenue bonds previously authorized
and issued, to finance the improvement, extension and enlarge-
ment of the City's Water and Sewer Systems; providing for the
payment of such bonds solely from the revenues of such Systems;
pledging a portion of such revenues to such payment; entering
into certain covenants and agreements with respect to the
operation of such Systems and the application of the revenues
derived therefrom; and repealing all ordinances in conflict
herewith,' adopted by the City Council on March 10, 1954, the
$3,500,000•00 Water and Sewer Revenue Bonds dated March 1, 1955,
issued pursuant to the ordinance entitled 'An ordinance provid-
ing for the issuance of revenue bonds of the City of Fort Worth
in the aggregate principal amount of Three Million, Five Hun-
dred Thousand Dollars ($3,500,000.00), in addition to an install-
ment of Three Million Dollars ($3,000,000.00) of revenue bonds
heretofore issued and sold out of an authorized issue of Fifteen
Million Dollars ($15,000,000.00) and in addition to Eighteen
Million Dollars ($18,000,000.00) of revenue bonds previously
authorized and issued, to finance the improvement, extension
and enlargement of the City's Water and Sewer Systems; provid-
ing for the payment of such bonds solely from the revenues of
such Systems; pledging a portion of such revenues to such pay-
ment; entering into certain covenants and agreements with respect
to the operation of such Systems and the application of the reve-
nues derived therefrom; and repealing all ordinances in conflict
herewith,' adopted by the City Council on February 23, 1955, the
$510001000.00 Water and Sewer Revenue Bonds dated March 1, 1956,
issued pursuant to the ordinance entitled 'An ordinance provid-
ing for the issuance of revenue bonds of the City of Fort Worth
in the aggregate principal amount of Five Million Dollars ($5,-
000,000.00), in addition to two installments of revenue bonds
aggregating Six Million, Five Hundred Thousand Dollars ($6,-
500,000.00) heretofore issued and sold out of an authorized is-
sue of Fifteen Million Dollars ($15,000,000.00) and in addition
to Eighteen Million Dollars ($18,000,000.00) of revenue bonds
previously authorized and issued, to finance the improvement and
extension of the City's Water and Sewer Systems; providing for
the payment of such bonds solely from the revenues of such Sys-
tems; pledging a portion of such revenues to such payment; en-
tering into certain covenants and agreements with respect to
the operation of such Systems and the application of the reve-
nues derived therefrom; and repealing all ordinances in conflict
herewith, ' adopted by the City Council on February 29, 1956, and
the $4,050,000.00 Water and Sewer Revenue Bonds dated March 1,
1957, issued pursuant to the ordinance entitled 'An ordinance
providing for the issuance of revenue bonds of the City of Fort
Worth in the aggregate principal aunt of Four Million, Fifty
Thousand Dollars ($4,050,000.00) out of an authorized issue of
Eighteen Million Dollars ($18,000,000.00), in addition to three
installments of revenue bonds aggregating Eleven Million, Five
Hundred Thousand Dollars ($11,500,000.00) heretofore issued and
sold out of an authorized issue of Fifteen Million Dollars ($15,-
000;000.00) and in addition to Eighteen Million Dollars ($18,-
000,000.00) of revenue bonds previously authorized and issued,
to finance the improvement and extension of the City's Water
System; providing for the payment of such bonds solely from
the revenues of the City's Water and Sewer Systems; pledging
a portion of such revenues to such payment; entering into
certain covenants and agreements with respect to the opera-
tion of such Systems and the application of the revenues de-
rived therefrom; and repealing all ordinances in conflict
herewith,' adopted by the City Council on February 27, 1957;
and (6) the term 'First Issue Bond Ordinance' shall mean
the ordinance adopted by the City Council on April 20, 1949."
ARTICLE II.
The provisions of all ordinances in conflict herewith are hereby
repealed insofar as they conflict herewith.
ARTICLE III.
This ordinance shall take effect and be in full force and effect
from and after the date of its passage.
yor oft City of Fort Worth,
Texas
ATTES
Cifty cretary of the City of
fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
ZZ
City Attorney of the City of
Fort Worth, Texas
ORDINANCE
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TitleC
Adopted
jF
inal Adoption.
Publishe
Filed X Day of ' 19
City Secretary -�7 M
P. O.No.42978-U