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HomeMy WebLinkAboutOrdinance 1311 The City Coil of the City of Fort 'forth, Tema, met at a recessed session in the Council Chamber at the City Hall at 9:30 A. Y. Wednesday, the 17th day of Atapst, A. D. 1927, and upon roll call the followi,n�g were present: A:a. Bryce, �Yur, T. B. Hoffer, A. E. Th=uo in. lonnig, W. B. Austin and J. V. Sparks, Coumilmen, acttatituting a quorum and majority of said Board, and I. L. Fan %smit, Jr., City Searotary4rea+esurer was in attendance at said meeting and the following proceedings among other things were had and dons: C omm i 7man Sf srks, seconded by Councilman Hof for, moved the adoption of the following Ordinance: ORDINAMN 10, 1311 AN O INANCE AMENDING SXTIONS I AND II OF ORDIN- ANOB'N0. 1287 rASSED AND ADOPTED ON THE 19TH D"Y OF DULY A. D. 127 P OVI11IPdG A RATS OF IIdT3 OF FOUR AND ON&-HAL§ ER CMIT rMR KITXM INSTEAD OF POUR AND ON&Z 4 TIER CENT PER A1QM" ON THE BONDS AUT?TURIZED TO E I 'iUPD BY SAID ORPINAT TICS NATURE FROM 19W TO 1956 I1d4L IVE AND BY "ROVMING A RATE OF INTERSSI OF FOUR ((P C "ER AM= INSTEAD ON AOF LL BONDS AUTHORIZE i'O E IS.`R�'M BY SAID URUIRINCE 3HIGH ITATUM FR(X 1957 TO 1967 MM PROVIDING THAT THIS OMINAN09 SHALL BE CUtiT1LATIVF OF ALL MUM Uln, INAUCES 101MOF(E PASS:' 17-COMOTION WITH T"E ISSUM0 3 ; F 1113SE BONDS EMMITT IN SO FAR AS THE PRD- VISIONS OF THIS ORDINAN E AR IN !DIRECT 00"T LILT WITH THE PROVISIOT?S OF THUM ORT?INANCES. VKVM,0 it is deemed wise and expedient by the City Council of the Oity of Fort Worth, in the exercise of the discretion reposed in it by law, to provide a rate of interest of four and one-half (4J%) per cent per am= instead of four and one-fourth (4J%) per cent per atmam, on the bonds authorized to be issued loy Ordinanoa No. 1287, which mature from 1938 to 1956 inclusive, being ISM bm d-s in all and to provide a rate of interest of four (4%) per cent per annuaa instead of four and one- fourth (4 } per oent per annum on the bonds authorised to be issued 'by Ordinance 116. lW7, which mature feoa 1957 to 1967 inslusint being 187 bonds in all. w0A, '!'BSI PM BE IT ORDA RM HT THE 0 ITT 0000 IL OF THE 0 ITT OF FORT WORTR i 830TIOM I. That Sections I and II of Ordinance NO. 12M passed and adopted at a regular meeting of the City Comall of the City of Fort forth, Tons, on Tuesday, the 19th day of july, A. D. 1927V 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 Forth adopted by the sjual ified voters within Us corporate limits of said City on the llth day of December, A. . 1924 and the laws and Constitution of the State of Texas, and pursuant to a vote of the resident propert tax pa voters of the City of Fort "forth at an elsetion gel in said Gut for such purposes on the 24th des of November, A. D. 1925, that the municipal governnent of the City of Fort loath issue its corporate negotiable a n`bonds n the principal sum of Six Hundred Thousand Dollar$ "o 000.00 his-sum be in addition to the Five Hundred Thousau 'DRlars'( OD 000.00 w rth of said bonds heretofore issued by an ordinance lawtull passed and adopted on the 29th day of D®camber, A. D. 19259 ana *hich ordinance was amended by an ordinance lawfully passed and adopted on the 5th day of Jazmuary, D. 1926, by the City C until and also in addition to Five Hundred Thousand Dollars ( 500,060.00) wort$ of said bonds heretofore issued by an ordinance lawfully assed and adopted on the 15th day of June A. D 192:6 and alm in addition to Six Hundred Thousand Dollars t� i00 600.00) worth of said bonds heretofore issued by an ordinance lawfully pass- ed and adopted on the 28th day of December, A. D. 1926, and which ordinance was amended by-an ordinance law lull ppaassed and adopted on the 26th day of April, A. D. 19270 pursuanT to valid authority from the pproperty tax paling qualified voters of said City at a roppeer. anal regular election held on the 24th day of November A. . 7,925, out of an authorized issue 'said election of Teo hi- lion, se T Hundred Thousand Dollars ( '200 000.00), and which authorized issue is known as Series and desigiated as Street Improvement Bonds, and the bonds so be issued shall be in the denomination of Una Thousand Dollars ? 1000T& each dated Se tember 1, 1927, the bonds maturing roux 1934 to 1§37 i.ncl usi ve, be 92 bot4aWg n all, bearing interest at the rate of four and one--fourth per cent per arm�um the bonds maturing from 1938 to 1956 incsive, being 31 b d 'in all, bearing interest at the rate of four anal one-half 4t ) r cent per amass and the bonds maturing from 1957 to 1 7 inc s e, being 187 bonds in all bearing interest at the rate of four 43 per cent per a2mum, the interest on all of the above describe on s being pa gable semi- annually on the let des of March and September of each year re- soectively, both principal and interest of said bonds being paw able at tAe Hanover Xatlonal Bank, in the City of Now 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 :orth by the Mayor thereof attested by its City Secretary-ireasurer, with the seal cif the City thereon duly imppressed but the interest coupons to be executed with the lithographed facsimile signature of the Mayor and City Secr©tary-Ireasurer of the City of Tort Worth each of add bonds and ooupoas shall be negotiable sad payable to bearer, and s,�id bands shall be nuuberod n the way and manner hereinafter set out, maturing five � pears from the date thereof and annually thereafter un i he last maturingbond shall become ppaablb within fort (40) ears from the da thereof. and the bonus themselves, six hundred (600) in number, shall be umbe ed consecutively from one thousand six hundred and one M1601jr to two thousand two hundred (22�0) inclusive, and shall mature in the amounts and manner herein- after set out; said bonds shall be used i'or the purpose of making permanent impromments by constructing, extending and imtroving the streets, thorout hfa.res and storm severe a srsid C i Y. That the g4noral fors of said bands and the 6000- ppm thereto smumd shall be executed substantially in the fol- lowing forml • MTV STATIS �1flOQ OF AMBRICA STATE OF TWS, CMITY OF TARRANT SERIES #46 CITY OF FORT AORTA Street hprovemont Bond of the City of Port Worth issued for the purpose of making permanent impror+ements by oon- straoting, improving and extending the streets, tbarr ►fares as *torn sewers of said City. KNOW ALL MV BY THESE 7'R ?TSs That the goverment of the City of Port Worth, a mrmicipal serporatiam, duly created under the lees of the State of Texas, hereby aeknowledges itself to owe, and for value received promise* to pay, to bearer, ONE THOUSAND DO1M ($1C0©) In ]Jarful mossy of the lbited States of ".nerioa, on the 1st day of September, A. D. 1932, together with interest there= at the rate of per aentum per azmm, payable samia=plly on the first day of March and 9eptamber in each year, on presentation and surrender of the armexed interest coupons, as they severally full due. Both the priuci�x%l r,-id interest of this bond are payable at the office of the Hanover National YAA, in Now York City, X. Y., and for the dais and pwwtual payment of this bond at the maturity thereof, and the interest thsreom, when it falls due, the full faith, oredit and resources of the City of Fort worth are hereby irreroaably pledged. This bond is one of a series of six hundred (600) bonds numbered consecutively from one thousand six hundred and one (1601) to two thouwmd two hundred (22W) inaIUSive, each of the denomination of One Thousand Dollars ($1,000.00), amount— ing in the aggregate to the sum of Six Hundred Thousand Dollars ($WO,000.00) issued for the purpose of making permanent improve- ments by constr>aaating, improTing and extending the streets, thor- oughfares and storm sewers of said City, 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 of the City Council of said City lawfully passed and adopted, on the 19th day of du4,y, A. D. 19271 and which ordinance was am4nded by an ordinance lar fully passed. and adopted on the 17th day of August, A. D. 19270 pursaent to valid authority from the property tax paying qualified voters of said City, at a proper and legal electid held on the 2.4th day of November, A. D. 1925. It is hereby further expressly represented, recited and covenanted by the government of the City of 'Fort North, to and with each and every holder of said bonds or aV one of them, that all a 0s, additions and things required by the laws of the State of Tom, and of the Charter and Ordinaces of the City of Fort Worth, precedent to and in the issuance of this band, have been done{ have happened, and have been performed in proper and lasswful time, fors and manner an prescribed by law, so as to make this bond a legal, binding and valid obligation of the City of Fort North, and that provision has been wade for the levy and collection of a direct annul 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 ther-,of, and that 9;e total indebtedness of said City, including this bond, and the issue of which U� is a oompoaent part, does not exceed amy constitutional or statutory limitation. ITS TMMONr ISREOF, the O ity of Fort worthy in the State of Tana, has executed this band by causing it to be signed by its Jkyor and attested by the City Swretarr»Treasarer, with the seal of the City thereanto duly inpreesed, =d has caused the &=sxed interest coupons to be execrated with the facsinile signature of the Kapar and C i ter Seoretary-Tnasarer, and dated as the lot day of September, 1. D. 1927. CITY aF For WORTHO TVA ATTMT s My rs surer (POT* CF COUPON NM) �a. The City of Fort Worth, in the state of Tessa, promisee to -,ty to bearer, on the 1st day of Nash, A. D. 1928, at the Hmver Rational Bank in the City of Now York, N. Y., for in- terest due that day on its annic ipal band,dated Septedber 1, 1, D. 1927, and nwbered 160L am. " M$T �OA'fN, TW msyar ATTEST: My rre canter CFVIC E OF C WTHOILBR, STATE OF T . I hereby certify that there is on file and of re- cord in my office, a certificate of the Attorney General of the State of Teoae, to the effect that this bond has been ermined by him as rewired by law, and that he finds it has been issued in conformity with the Constitution and Laws of the State of 4'ese►s, and that it is a valid and biuding obligation upon said City of Fort Wordy geaaee, and said bond has this day been registered by ae. IT"M my hand and seal of office at Austin, Texas, this t �dsy of'-, A. D. I,,,,_, Ge"trallor o FublcANISMIts o tote Section II - That the said bonds to be issued by the City of Dort Worth, amounting to Six Hundred Thousand Dollars (0600,- 000.00) , out of the said authorised issue of Two Million, Two Hundred Thousand Dollars ($2,200,000.00) , shall be issued for the purpose of constructing, improving and extending the streets, thoroughfares, storm sewers, bridEes and drainage of the City and shall consist of six hundred (600) bonds, numbered from one thousand six hundred and one (16C1) to two thousand two hundred. (2200) inclusive, and the bonds herein authorized to be issued whieh mature from 1932 to 1937 inclusive, being 92 bonds In all, shall bear interest at the rate of four and one-fourth (4 ) per cent per annum, the bonds herein authorized to be issued which mature from 1938 to 1966 inclusive, being 32I bonds in all, shall bear interest at the rate of four and one-half (4*%) per cent per annum and the bonds herein authorised to be issued which mstroir9 from 1957 to 1967 inclusive being 187 bonds in all, shall bear interast at the rate of four 14%) per oent per annum, the interest on all of said bonds being payable semiannually as afore- said, and the total amount of said bonds to te ,issued being Six Hundred (600) bonds shall be a part of Series f46 and shall be styled and designated Street Improvement Bonds. SECTION II. This ordinance is hereby declared to be cumulative of all other ordinances of the Oity of Fort Worth 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 ordin- ance. SECTION III. This ordinance shall take effect and be in full force from and after the date of its passage and it is so ordained. APPROVED AS TO FORM% CityA7tt6rnoy We. "e, fir, p"aldinpr at said meetin-, anbnttted the motion to adopt said ordinance and all of the Councibmen, inolud- ing the Mayor, voted "Aye" thereon and none voted "No", whereupon, the notion to adopt the ordinance was debikixted to be unanimously passed and adopted. STATE of TEUS C Y OF TACT I, I. D. Pan &mdt, h., City 8wretu7►Treaesrer of the City of Fort :north, Texas, do hereby sertify that the above exA foregoing is a trns and correct ampy of Crdiwma t No, 1311, and that w m a vas tnunimously paused and adopted by the City C ar&- oi1 of the City of Port Worth# Texas, at a recessed meeting held in the Council Chamber at the City Hall on Wednesday, the 17th day of Uguxt, A. D. 1927. IN TESTIMONY FLWI , I have hereunto sigasd my name officially and =sod to be impressed hereon the seal of the City at my office in the Oity of Port Worth, this 17th day of Aupst A. D. 1927. ulty of Par�rth, Nei". ity