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HomeMy WebLinkAboutOrdinance 1310 The City Council of the City of Fort Worth, Texas, met at a recessed session in the Council Chamber at the City Hall at 9:30 A. M. Wednesday, the 17th day of August, A. D. 1927, and upon roll call the following were present: Wpm. Bryce, Hayor, T, D. Hoffer, A. H. Thonas, Wba. Tionnig, W. M. Austin and 8. N. Sparks, Councilmen, caauatituting a quorum and majority of said Board, and I. L. Fan Zandt, Jr., City Secretary-Troasnrer was in attendance at said meeting and the following proceedings awz* other things were had and dcmne: Councilman Sparks, seconded by Councilman Hoffer, moved the adoption of the following Ordinance: OMINARCB 1M. 1310 AN ORDINANCE AMMIDIBG SECTIONS I AND II OF ORDM- ANBH'NO. 1286 PASSED AND ADOPTED ON M, 19M DAY 07 DULY, A. D. B!7 Y P VIDING A RATE OF INTEREST 0 FOUR AND ONE-HAIL" ER CENT PER ANM INSTEAD Off` FOUR "'D 014E- Z. PER CENT E'ER AMONTHE BONDS AUTHORIZED TORE SUED BY SAID ORDINANCE 77HICH I ATURE FROG 1938 to 1956Q4 ��7 1 AND BY PROVIDING 1 RATE OF INTEREST OF POOR E G�F,AtT PER ANI4 TIdMMAD OF FOUR -M OND-1M (4 PER CENT PER ANM ON ALL BONDS AUTHO ZED TO BE I S BY SAID ORDINANCE VIDI GHATURE THAT THIS ORDINANCE1967 MAALL BE U�,ATTM OIVE AND F IL OTHER ORDINANCES RELATING TO ME ISSUANCE OF BONDS An'D ,HALL NOT REPEAL ANY OF SMH ORDINANCES IMEIT IN SO FAR THE PROVISIONS OF THOSE ORDINAIVES ARE IN DIRECT CONFLICT ':PITH M PROVISIONS OF THIS ORDINANCE. it is deemed arise and expedient by the City Council of the City of Fort North in the exercise of the discretion reposed in it by law, to provide a rate of interest of four and one- half (40) per pent per annum instead of four and one-fourth (4to per cent per auma, on the bonds authorised to be issued by Ordinance No. 1286, whioh mature from: 1938 to 1956 inalusire, being 376 bands in all and to provide a rate of interest of four (4%) per oent per Sao) aMIX instead of four and one-fOUrth (') coat ?IT , i4h on the bonds authorized to be issued 11 Oralns't r nature from 1957 to 1967 being 220 bonds in all• NOW, TMMMR$, BE IT ORDAIM BY THE CITY COMC IL OF T IE CITY OF ?OT NORM: SBC TION L That Sections I and II of Ordiwmce No. 1286 passed and adopted at a regular meeting of the City Council of the City of Fort Worth, Texas, on Tuesday, the 19th day of July, 1, D1 19270 be and the same are hereby amended and after betag so amended, shall read as follows: Section I - That pursuant to Section 19 of Chapter 1XV of the Charter of the City of Fort 'Torth, 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 roperty tax pa voters of the City of Fort 'forth at an elec�ion held in saiP eft for such purpose on the 24th dLy of November A. D. 19251 that The municipal goverment of the City of Fort Worth issue its corrpporate negotiable coupon bonds in the principal sum of Seven Hundred Thousand Dollars (4700 000.00) this amount of said bonds be' in addition to the One idllion, Five Hundred Thousand Dollars tW 500 000.00) worth of said bonds heretofore issued by an ordinance UwKily passed and adopted on the 29th day of December, A. D. 1925, and which ordinance was emended hq an ordnance lawv- fully passed and adopted on the 26th day of Tanuary, A. D. 1926 by the Ci Council and also in, addition to Five Hundred Thousand bol- lars t( 500,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 15th dayof June, 1, 1926 and also in addition to Six Hundred Thousand Dollars 060.00) worth of said bonds heretofore issued by an ordinance' �!,600 wfully passed and adopted on the 28th day of December, A,. D. 1926, and which ordinance was amended by an ordinance lawfullypassed. and adopted on the 26th day of April, A. D. lt2'7 pursuant valid authority frcm the property tax paying qualified voters of said City, at a proper and regular election held on the 24th da of November; A. D. 1935 out of an authorized issue at id election of Three Million three Hundred Thousand Dollars ( ,300,000.00) worth 9f said bonds and which authorized Issue is knorm as Series 45 amd is designated as Water and Sanitary Sewer Bonds, and the bonds hp to be issued shall be in the denomination of One Thousand Dollars i r ( 10CK�.fl9) sac dated September 1, 1927, the i�onds mb �sari fr®n 1932 to 1h7 inclusive, being 104 bonds in 11s Wo interest at the rate of four and one-fourth per cent per snnw, the bongs maturinaf� drom 1M to 19 inclusive, being 376 bonds ' all, bearing interest at the rate of four and one- per cent per anmm and titre oonds'naturing from 1957 to 9 i inclusive, 220 bonds in all, bearing;interest at the rate of fourje�g 4per cent per am=, the interest on all of the above seer?bed bonds being payable seaiannuall on the first day of Parch and Sep te..ber of each year respectivet"t both principal and interest of aid bonds Doi payable ahe lianbver National I,%.nk in the City of Now Tork, State of Now York the semiannual interest evidenced by interest coupons attached thereto all of said bonds to be executed for ana on behalf of the Oily of Fort 117orth by the Mayor thereof attested by its Secretary-Treasurer, with the seal thereon duly impressed but the interest coupons to be executed with[ the lithogra_p ed facsimile si mature of the F yor ani G itt Secretary easurer of the City of Fwt '-'Iotth each of said bonds and coupons shall be negotiable and payable to bearer, and said bonds n=bered in the way and manner here- inafter set out, .aturing five (5)__�;�are from the date thereof and aivmually thereafter until the lr►st maturing bonds shall be- come payable within forty 40) years from the date thereof. That theneral foam of aLiA ban" W the *on �x thereto annexed gall be executed in substantially the fi to lag form, to-* geits xa. MTVMMJL SPATE OF MM9 COMM OF TARRM Sys #45 C ITT OF WORTH WORTH ---0000000-�► Water and Sanitary Sewer Bond of the City of Fort Worth issued for the purpose of improving and extending the dater and Sanitary Sewer System of the City of Fort Worth. KNOW ,ALL M N BY Tip M MI SSl'd'f S i That the goverment of the City of Dort Worth, a municipal corporation, duly created under the kws of the State of Toms, hereby acknowledges itself to owe, and for value re- ceived prawises to pay, to bearer, ONE THOMAND DOLLARS ($10W) in lavW money of the united States of ,Aueriea►, on the 1st day of September, A. D. 1932, together with interest there= at the rate of per centum per annum payable awd— aatmlly on the first day of vffvr...1 and September in each year, on presentation and surrender of the amend interest ooupons, as they severally fall due. Both the principal and interest of this bond are payable at the office of the Hanover National Bank, in Were York City, H. T., and for the due send punctual payment of this bond at the maturity thereof, and the interest thereon, when it falls due, the full faith, crediktand resources of the City of Port Worth are hereby irrevocably pledged. This bond is one of a series of bonds timbered consecutively from two thausglud six hwred ant one(M) to three thousand thra: hundred [M) inclusive, e84h of the den i m-Lt ion of One 'Thousand Dollmrs (,31Wo.o0)y &Dv rat- ing in the ac rem t a to the sum ); Seven Hundred Thousand Dol- lars ( 1,000.00) issued for the purpose bf improving sad ex- tending the Crater and sanitary sever system of the City of Port "forth, under and by virtue of the Constitution wsl lass of the State of Tsxas,, the Charter of the City of Pbrt 7orth, and an ordiname of the City Council of said City lawfully passed and adopted on the 19th day of July, A. D. 1927, and which ordinance was amended by an ordinance passed and adopted the 17th day of Aagust, A. D. 1927, pursuant to valid authority &= the property tax pay ng gtta.lified voters of said City, at a proper and legal election held on the 24th day of 8ovemUr, 1925* It is hereby further expressly represented, recited and covenanted by the gsysraseat of the City of Fort 'Korth, to and with each and every holder of said bonds or any one of tlela, that all actsf conditions and things required by the laws of the State of Texas, and of the Charter and ordinawes of the City of Fort 'Korth, pressduct 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 mode for the levy and ool- leotion of a direct a=rml tax on all taxable property in the City of Fort Dart), and that such tax has been levied in a suf- ficient 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 emponent part, does not exceed aW con- stitutional or statutory limitatiamo IN TESTIT'ONY I NUMP, 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-Troasurv, with the seal of the City thereunto duly is<preeeaed cad Us caused the annexed interest coupons to be executed with the facsimile signature of the Mayor and City SecretaurrTreararer, and dated as the 1st day of September, A. D„ 1927# CITY OF FORT WOMR, TEM ATTEST: CITY e "r vErer. (FORK OF C OMW NOTE) xo.�� The City of ?ort '70rIth, in the Stv-to of '"exae, pr=ioes to pay to bearer, ( ), on the lst day of ?°arch, A. D. 1928, at the genovor National Bank in the City o° Now 'fork, 1. L. for interest due that day on its municipal bond dated September 1, A. D. 19270 ,iad numbered PA1. '�" OIT7 OF PAT '# 'H, TWS a�rvr ATTEST: y re ar—r reasuror OFFI0 2 OF C M"OI IRP STATE OP TEAS. I hereby certify that there is an file and of record in my offioa, a certificate of the Attorney General of the State of Texas, to the effoot that this bond has been examined by his as regaired by tar, and that he finds it has been issued in oaafom. ity with the Constitution and lacy$ of the State of Te ml, 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. . "ST S3 my hand and seal, of.office, at Austin,, Texas, this tht�...,»,., Y of , A. D. 19 sop moths State of '�.� s o f Section II - That the total amount of bonds to be issued by the City of Fort Worth is Seven Hundred Thousand ($700,000.00) Dollars, out of the said authorised issue of Three Million, Three Hundred Thousand ($3,300,000.00) Dollars, shall be issued for the purpose of improving and extending the Water and Sanitary Sewer System of said City and shall consist of seven hundred (700) bonds numbered from two thousand six hundred and one (2601) to three thousand three hundred (3300) inclusive, and the bonds herein authorised to be issued which mature from 1932 to 1937 inclusive, being 104 bonds in all, shall bear interest at the rate of four and one-fourth (4 %) per cent per annum, the bonds herein authorised to be issued which mature from 1938 to 1966 inclusive, being 376 bonds in all, shall bear interest at the rate of four and one-half (4*%) per cent per annum and the bonds herein au- thorized to be issued which mature from 1957 to 1967 inclusive, being 220 bonds in all, shall bear interest at the rate of four (0) per cent per annum. The interest on all of said bonds being, payable semiannually as aforesaid and the total amount of said bonds to be issued being seven hundred (700) bonds shall be a part of Series #46 and shall be styled and designated Water and Sanitary Sewer Bonds. SECTION II. This ordinance is hereby► de hared to be cumulative of all other ordinances of the City of Fort North with reference to the issuanee of its noptiable coupon bm4s* v"t to the ex- tent that the sane are in conflict with the provisions of this ordinance. SwTIox IZI, This ordizanoe shall tale effect and be in fall force from and after the date of its passage and it is ego ordain+ APPFMM AS TO FORD s city I Is. Bryce, Mayor, presiding at salt{ tooting, sub- mitted the notion to adopt said ordinance and all of the Council- sent including the Mayor, voted "Aye" thereon and none voted "Ao", whereupon, the motion to adopt the ordinance was declared to be unanimously passed and adopted, STATS OF TEXAS COUN7T OF TARRW I, I. L. 'fan Zandt, Jr., City of the. City of Fort ilorlh, Texas, do hereby certify that the above and foregoing is a true and correct copy of Ordinance No. 1310, and that same was unanimously passed and adopted by the City Com- oil of the City of Port north, Texas, at a recessed meeting heft in the Coumzil Chamber at the City Hall on Wednesday, the 17th clay of August, A. D. 1929. IN TESTIMONY MRWj I have hero+mto sigud my name officially and caused to be iaprossed hereon the seal of the City at pry office in the City of Fort Worth, Texas, this 17th day of Axpet, A. M. 1927. of Fort %Pth " wms.