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HomeMy WebLinkAboutOrdinance 1211 The City Council of the City of Port Worth met in regular session in the Council Chamber at the City Hall at 9:30 A. M. Tuesday the 28th day of December, A. D. 1925, and upon roll call the following were present: H. C. Meaeham, Mayor, Willard Burton, T. B. Hoffer, A.: 3. Thomas, William Bryce, 9, T. Renfro, William Monnig, W. B. Austin and L, P. Card, Councilmen, conetituting a quorum and majority of said Board, and I. L. Van Zandt, Jr., City Ssoretary-Treasurer was in attendance at said meeting, and the following proceedings, among other things were had and dare: C ou nc ilman Immig, sec coded by Councilman Burt m, moved the auoption of the follow Ordinance: ORDINANCE NO. 1211 APT ORDIN16"4CB PROVIDING FOR THE ISSU"ITCE ON PTEGOTIME COUPON RMS 0? THT GOV Td'TITUT ' .OF THE, C171 OF PORT 70RTH QMITING TO THE PRINCIPAL S71 OF SIX TIMIMM THOUSAND DOLLARS 600 000.00 IN ADDITIMT "0 "i'HE S[P'.� OF ONE ITILLIOTT DOLLP.RS 166 0 000. b '�OR'!'H Or SAID BOPTDS H;wTOFOT'�; IS"UED BY THE COTMC IL DT ORDINMr, S DULY MT AC" BY TTCE CITY COUNCIL P11 wUAPTT TO VEA.T ID AUTHO�nI'i'Y s3T 'D ITT AID GO7321IRG BODY B� A , ''Y G LLC T I ON HELD ON i� 24TH DAY 0, 710 T TBRR, ', AP1D , 7 A. D. 1925 OUT OF :, A RIZED'IS�U� F THE MO 11ILLION T6d0 H71D� THbUSMTD OT� MIMES. AIRS 200 000.00 hl'TD BFrrT= F�'T0.7, AS ES.FORTY-SIX 4 5 AND E IGNIT.;'D AS 47'rRMT DJPROVR..,� r BO11DT1 To BE ISM IT FO; iL T rmlpo'' OF 1°'-7I11G IPA PnOV.-stT'?'S BY COTISTI=TING IMPROnIMG '"'D 27"MM, TFF, STREETS, THOROUGHFAMM AND STOIRT ^u ifo' OF Sl ID C I7• LAC$ �' il" ID BO ?DS TO BE rT III; 'D71MIPTATION OF Ori THOMATTD ALAR,S ? 1 0 EACH 1 B" DIT) FEBMARY 13T 192'7 MATURING "ROM I�JT 1 0 FORTY 40��YEARS PROM TTTP. DATA OF ATID TO IZTy'AR INT^. ; I AT THE TEAL POUR ARID Otis"-MP 4 I'a�i Cr 7T PLR 'I:;TtM PAY- ABLE S T I-AMMALLY THE INT'EM BE EXPR33 3MM IN C Of TON NOTES ATTACH- TOM BOlhS, DIRMTING THAT M. SAID BONDS BE =M BY THE MAYOR ATM C I^Y SECRETARY-TRBASUMR• AND PROVIDING FOR 91 A)E QTTr1TE T X IMY ^O?? TE r kYPT"77 Or T IR? � `�T ON SAID B01"M3 ,uTD TO pREA�� ym A SING IIT'ID FOR `1'HE PkYV",NT OF 7-TE IIIN- CIPAL i MEO AS TIT" `Mj]' MTT�� s3 F1�3M Ir`T TO TITM• I.ND PRO- VIDING THAT ;IS OFbIITIITC SITALL ?3^ IN "OTICE AND 97tT FRMI AND .AFTER TM DATE OF ITS PASSAGRi. 1I UMS, on the 3rd day of November, A. D. 1925, pursuant to the authority crested 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 constitution of the state of Texas, the City Council of the City of Fort North, Texas, by a resolution and an ordinance of that date, directed the submission to the resident property tax paying qualified voters of said City, at an election to be held in said City on the 24th day of November, A. D. 1925, of the right, power and authority of the City Council of said City to issue negotiable coupon bonds of the corporate govern- ment of the said City in the principal sum of Two pillion, Two Hundred Thousand Dollars ($2,2A0,000.00), for the purpose of malting permanent improvements in said City by c mstruoting, improving and extending the streets, thoroughfares and storm sewers of the said City, and to include in such permanent im- provements the widening, paving, grade separation, bridges and drainage; and NfMREAS, in conformity with the said resolution and ordinance, the Mayor of the said City did make proclamation of said election, and fixed the date thereof for the 24th day of November, At D. 1925; and WH]I9 S, said election order and proclamation thereof was prepared and published in the manner and for the time pre- 'scribed in said resolution and ordinance; and WHERM, on the 24th day of November, A. D. 1925, said election was held in the City of Fort North at the respective polling places designated in the election order, at which said election the issuance of said bonds was submitted as a proposi- tion to the tax paying qualified voters of said City; and TEMASS the official ballot on such occasion„ in conformity with the resolution and ordinance of this City Council, hereinabove mentioned, and in accordance with the order of said election, in form and in substance reads as follows: r OFFICIAL BALLOT I. Shall the City of F^rt Worth, Teras, through its City Council ssue its negotiable coupon bonds, running from five (5) to forty ,mars in the principal sum of Three Million Three Hundred Thousand 13,300,000.00) Dollars, for the purpose of improving and extending 'ne water and sanitary sewer system of said City, the first of said %onds being payable at the expiration of five (5) years from the de,,. hereof, and serially thereafter as may be determined by the said ity Council, so that the last maturing .bonds shall become payable 'thin forty (40) years from the date thereof, bearing interest at a ,ate not to exceed five per cent (5a) per annum from the date thereo ?ayable 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 Water and Sanitary Sewer Bonds. AGAINST the Issuance of Water and Sanitary Sewer Bonds. II. Shall the City of Fort Worth, through its City Council, issue its negotiable coupon bonds, running from five (5) to forty (40) ;rears in the principal sum of Two Million Two Hundred Thousand 32,260,000.00) Dollars, for the purpose of constructing, improving and extending the streets, thoroughfares and storm sewers of said city, including in such permanent improvements the widening, paving,. Trade separation, bridges and drainage, the first of said bonds be- _ng payable at the expiration of five (5) years from the date therec� end serially thereafter as may be determined by the said City Counc. so that the last maturing bonds shall become payable within forty ( years from the date thereof, bearing interest at a rate not to exce, Five per cent (5%) per annum from the date thereof, payable semi- .nrivally and lev a sufficle tt tax t pad the interest on v id bond. and creme a sinking ng fund sufficient o r deem said bonds a he ma- turity thereof? FOR the Issuance of Street Improvement Bonds. AGAINST the Issuance of Street Improvement Bonds. III. Shall the City of .Fort Worth, through its City Council, issue its negotiable coupon bonds, running from five (5) to, forty (40) years, in the principal sarrn of 5eve.zty-One Thousand (471,000.00) Dollars, for the purpose of constructing, building and equipping an additional incinerator plant for the City of Fort Worth,, Texas, and p,irchasing the necessary lands and site therefor, the first of saic bonds being payable at the :expiration of five (5) years from the .late thereof, and serially thereafter as may be determined by the said City Council, so thIt the last maturing bonds shall become payable within forty (40) years from the .date thereof, bearing in- terest at a rate not to exceed five per cent (5 ) 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 Incinerator Bonds. AGAINST the Issuance of Incinerator Bonds. IV. Shall the City oP".'Firt Worth, through its City Council, issue its negotiable coupon bCtnds, running from five (5) to forty (40) years, 'in tide principal sum of Five Hundred Thousand ($500,000.00) Dollars, for the purpose, of purchasing, [acquiring and improving lands and property for public parks in the City of Fort Worth, the first of ;aid bonds being payabl•D at the expiration of five (5) years from the date thereof, and sc rially thereafter as may be determined by the said City Council, so that the last maturing bonds shall become pay- .ble within forty (40) years from the date thereof, bearing interest :.t a rate not to exceed five per. cent (5%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pa^r i _nterest on said bonds and create: a sinking fund sufficient to re- said bonds at the maturity thereof? FOR the Issuance of Park Bonds. AGAINST the Issuance of Park Bonds. V. Shall the City of Fort Worth, through its City Council, issue is negotiable coupon bonds, running from five (5) to forty (40) ars, in the principal sum of One Hundred and Sevegty Thousand N370,000.00) Dollars, for the purpose of purchasing, acquiring and improving playgrounds, athletic fields and other recreation facil- '.ties of a permanent nature in said City, the first of said bonds being payable at the expiration of five (5) years from the date Thereof, and serially thereafter as may be determined by the sn$d City Council, so that the last maturing bonds shall become payable v^ithin forty (40) years from the date thereof, bearing interest at rate not to exceed five per cent (5%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bondo and create a sinking fund sufficient to redeem said bonds s.t the raturity thereof? FOR the Issuance of Recreation Bonds. AGAINST the Issuance of Recreation Bonds. VI. Shall the Ci.ty, of Pont Worth, through its City Counci., issue '.ts negotiable coupon bonds, running from five (5) to forty (40) ,ears, in the principal sam of Eighteen Thousand ($18,000.00) Dol- 1jrs, for the purpose of constructing, building and equipping an ,ddition to the City-County Hospital in the City of Fort Worth, Texas, cne first of said fonds ba}ng payable at the expiration of five (5) .mars from the date, thereof, and serially thereafter as may be do- ermined by the sa;.d City Council, so that the last maturing bonds Tall become paya".r;..e within forty (40) years from the date thereof, •,oaring interest at', a rate not to exceed five per cent (5a) per annum. from the date thereof, payable semi-annually, and levy a sufficient to pay the interest on Said bonds, and create a sinking fund suf- Icient to redeem taid. bonds at the maturity thereof? FOR the Iss-Lance of City-County Hospital Bonds. AGAINST the Issuance of City-County Hospital Bonds. VII. Shall the ,Ci �y of Fort Worth, through its City Council, issue s negotiable coup�ii bonds, running from five (5) to forty (40) ars, in the prina.hinl sum �f' One Millian• Four Hundred Thousand 'p•1,400,OOO.00j Dolt::trs, for the purpose of constructing, improving ad extending:its syxstexn of ptreets and thoroughfares by constructing, aproving and extending a neat main arterial street and thoroughfare ,tmntng north and sA)uth and it new main arterial street and thorough- ,%re extending east and west through said City, irin luding in such per- 'n.ent improvements grade se` aration, bridges, dr5age and. the pur- ,:} ase of right of w1ty, the first of said bonds beinjA payable at the -piration of five -.b) ..ybars 'from-the date' thereof,hnd serially there- ter as may be det,,Pkined b`q the said City Council, so that the last taring bonds shaft become ;ayable within forty (40) years from the to thereof, beariije intcron t at a rate not toexceed five per cent 3%) per annum from, lhe date thereof, payable semi-annually, and levy sufficient tax to, poy the--4nterest on said bonds and 'create a sink- ;_ng fund sufficient to redeet* said bonds at the maturity thereof? FOR the Issuance of *4n Arterial Thoroughfare Bonds. r AGAINST the Issuance f Main Arterial Thoroughfare Bonds, WHIU AS, in the election held in said City of Fort Worth on the 24th day of November, A. D. 1925, on the question of the issuance of said bonds hereinbefore mentioned, there Were a majority of votes in favor of the issuance of said bonds; and WHHHHAS, by virtue of said election, said Council is vested With power and authority by and from the people 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 forth; and WAS, pursuant to the power vested in the City Council, the duly constituted governing body of the City of Fort 'forth, by said election and the laws and Constitution of the State of Texas, the said City Council did, by an ordinance lawfully passed and adopted on the 29th day of December, A. D. 1925, and which ordinance was amended by an ordinance lawfully passed and adopted by the City Council on the 5th day of January, A. D. 1926, authorising the issuance of negotiable coupon bonds of the government of the City of Fort Worth, amounting to the principal sum of Five Hundred Thousand Dollars (M,000.00) out of an authorized issue of Two Million, Two Hundred Thousand Dollars ($2,200,000.00) worth of said bonds authorized by the property tax paying qualified -voters or said City at the said election held on the 24th day of November, A. D. 1925, and being known as Series #46 and designated as "Street Improvement Bonds"; and MMRUS, the said City Council in accordance with the power vested in said governing body as set forth in the pre- ceding paragraph, did lawfully pass and adopt an ordinance on the 15th day of June, A* D. 1926, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort North, amounting to the principal sum of Six Hundred Thousand Dollars ($600,000.00), in addition to the Five Hundred Thousand. Dollars ($500,000.00) ,worth of said bonds heretofore issued by authority of an ordinance, lawfully passed and adapted on the 29th day of December, A. D. 1926, and xhich ordinance was amend- ed by an ordinance adopted on the 5th day of January, A. D. 19269 all of said bonds being issued out of an authorised issue of Two Million, Two Hundred Thousand Dollars ('ZV200,000.00) worth of said bonds authorised by the property tax paying qualified voters of said City at the said election held on the 24th day of November, A. D. 1925, and being known as Series 46 and designated as "Street Improvement Bonds"; and NH§Wp it is deemed vise and expedient by the City Council of the City of Fort Forth in the exercise of the dis- cretion reposed in it by law that Six Hundred Thousand Dollars �llars 000.00) worth of said boaods, in addition to the One Mil- lion ($1,000,000.00) worth of said bonds heretofore is- sued out of the issue of Two Million, Two Hundred Thousand Del- lars $2l20O,000.00), be issued in bonds at this time; said bonds to be issued being a part of Series #46 and designated as "Street Improvement Bonds." NON, THEREFORE, BE IT ORDAIM BY THE CITY COUNCIL OF THE CITY OF FORT WORTH: SECTION I. That pursuant to Section 19 of Chapter XXT of the Charter of the City of Fort Worth adopted by the qualified voters with- in the corporate limits of said City on the llth day of December, A. D. 1924, and the lags and Constitution of the State of Texas, a d pursuant to a vote of the resident property tax paying voters of the City of Fort Worth at an election held in laid City for such purposes on the 24th day of November, A. D. 1925, that the municipal �!overwent of the City of Fort Worth issue its corporate negotiable coupon bonds in the principal sum of Six Hundred Thousand Dollars (' ,00,000.00), this sum ` being in addition to the Five Hundred Thousand Dollars ($500,- 000.00) worth of said bonds heretofore ismied by an ordinance lawfully passed and adopted on the 29th day of December, A, D. 1925, and which ordinance was amended by an ordinance lawfully passed and adopted on the 5th day of January, A. D. 19260 by the City Council, and also, in addi t ion to Five Hundred Thousand Dollars (M,000.00) worth of said bonds heretofore issued, by an ordinance lawfully passed and adopted on the 15th day of Jume, L D. 1926, pursuant to valid authority from the property tax paying qualified voters of said City at a proper and re- gular election held on the 24th day of November, k, D. 1925, out of an authorised issue at said election of Two Million, Two Hun- dred Thousand Dollars ($2,200,000.00), and which authorised issue is known as Series f46 and designated as "Street Improvement Bonds", and the bonds so to be issued shall be in the denomination of One Thousand Dollars ($1y000.00) each, dated February lst, 1927, bearing interest at the rate of four and one-half (4*%) per cent per annum, payable semi-amuually on the 1st day of August and February of each year respectively, both principal and interest of said bands being payable at the Hanover National Bank, in the City of New 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 forth by the Mayor thereof, attested by its City Searatarp-Treasurer, with the seal of the City thereon duly impressed, but the interest coupons to be executed with the lithographed facsimile signature of the Mayor and City Secretary-Treasurer of the City of Fort Worth, each of said. bands and coupons shall be negotiable and payable to bearer, and said bonds shall be numbered in the way and manner herein- after 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, six hundred (600) in number, shall be numbered consecutively from one thousand and one (1001) to sixteen hundred (1600) 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, ex- tending and improving the streets, thoroughfares and storm sewers of said City. That the general form of said bonds and the coupons thereto ann xed and the interest added to said bonds shall be executed substantially in the following form: woo...- WITBD STATES $1000 OF AMERICA STATE OF TEXAS, CO3M OF TARRANT SERIES 46 CITY OF FORT WORTH ---0000000r--- Street Improvement Bond of the City of Fort Worth issued for the purpose of making permanent improvements by o mstruoting, improving and extending the streets, thoroughfares and storm sewers of the City of Fort Worth. KNOW ALL BY THESE PRESEiTTS: That the government of the City of Fort Worth, a municipal corporation, duly created under the lays of the State of Texas, hereby acknowledges itself to owe, and for value received proni.ses to pay, to bearer, ONE THOMAND DOLLAR$ ($1000) in lawful money of the United States of America, on the 1st day of February, A. D. 1932, together with interest thereon at the rate of four and one-half (4* ) per centum per anntmm, payable seam-annually on the first day of August and February in each year, on presentation and surrender of the annexed interest coupons, as they severally fall due. Both the prin- cipal and interest of this bond are payable at the office of the Hanover National Bank, in. Now York City, N. Y., and for the due and punctual payment of this bond at the maturity there- of, and the interest thereon., when it falls due, the OIl faith, credit and resources of the City of Fort Worth are hereby ir- revocably pledged, This bond is one of a series of six hundred (600) bonds membered consecutively from one thousamd and one (1001) to sixteen hundred (1600) inclusive; each of the denomination of One Thousand Dollars ($1,000.00), amounting in the.aggre- gate to the sun of Six Hundred Thousand Dollars ($600,000.00) issued for the purpose of making psrman ent improvements by constructing, imnrD7in'; and extendini, the streets, thorough- fares and stare 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 ,'forth, and an ordinance of the City Cozmcil of the City lavftlly Passed and adopted on the 28th day of December, A. D. 1926, pursuant to salid authority`from the property tax paying qualified voters of said City, at a pro- per and legal election held on the 24th day of November, A. D. 1925. It is hereby further expressly represented, recited and covenanted by the eDvernment 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 lava of the State of Texas, and of 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 performed in proper and lawful time, form and manner as prescribed by law, so as to mals this bond a legal, binding anal valid obliga- tion of the City of Fort "orth, and that provision has been made for the levy and collection of a direct annual 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 thereof, art that the total indebtedness of said City, including this bcad, and the issue of which it is a component part, does not exceed any constitutional or statutory limitation. IN TESTITIONY MR90F, 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%. Treasurer with the seal of the City thereunto duly impressed, and has paused the annexed interest coupons to be executed with the facsimile signature of the Mayor and City Secretary- Treasurer, and dated as the first day of February, A. D. 1927. THE CITT OF FORT A4RTH, TEAS ATTEST: OTTY sore arg reaourer (FORK OF COUPON NO") NO*-r� r r $22,50 The City of Fort Worth, in the State of Twms, promises to pay to bearer Twenty-two Dollars and Fifty Cents ($22.50), on the 1st day of August, A. D. 19271 at the Hanover National Bank in the City of New York, N. T., for interest due that day on its municipal bond dated February let, A. D. 1927, and numbered 1001. TOE CITY OF FORT WOMI mus ►ayor ATTEST UITY sore cry- sneerer. OFFICES OF CO MMUR, STATE OF TEXAS. I hereby certify that there in on file and of record in my office, a certificate of the Attorney General of the State of Tee to the effect that this bond has been exmined by him as required by law, and that he finds it has been is- sued in conformity with the Constitution and Taws 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 thR........r_..."y o Umpi era c Acoomtso e State of Texas, SECTION II. That the said bonds to be issued by the City of Fort Worth, amounting to Six Hundred Thousand Dollars ($600,000.00), out of the said authorized issue of Two Million, Two Hundred Thousand Dollars ($2,200,000.00)1, shall be issued for the.pur- pose of constricting, improving and extending the streets, thoroughfares, storm sewers, bridges end draipage of the City and shall consist of six hundred (600) bonds, numbered from one thousand and one (1001) to sixteen hundred (1600) inclusive, and shall bear interest at the rate of four and one-half (4 %) per cent per annum, payable semi-annually, as aforesaid; all of which said six hundred (600) bonds shall be known as Series #46 and shall be styled and designated as "Street Improvement Bonds"; that all of said bonds, comprising the sum total of Six Hundred Thousand ($600,000.00), shall mature in the manner and amounts as set out in the tabulated statement herewith attached, to-grit: « �k 99 "606pv OOOTII MO«t 4hT 000 •(mok) Iwo"ki «000 41& Q kT *OMI,&T «000.TT CM 41 `t 00 4T bt e `///"r 0604 *owd abi & efAT Tt &OW T ,e «OM 0i a crr * ZMT iumAya waimaua OIL jam A0 "10 ACTION III. That the said bonds are hereby authorized to be sold to the best adventage, but in no event shall sarz be sold for less than par, and the acorued interest to the time of delivery and the prooeeds thereof, to be placed in the treasury of the City of Port Worth and utilized for the special purposes for which they are created. SMTION IV. That or the purpose of creating a sinking fund for the payment and complete extinguishment of the foregoing 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 appropripted for the said purpose, an annual, direct special ad valorem tax for the year 1927? and every successive year thereafter during the life of said bonded debt or any part thereof of 2.71 cents (or such an amount as may be necessary and adequate, be it more or less) on every One Hundred ($100.00) Dollars of property valuation,, real, personal and mixed, subject to taxation and not exempt there- from under the Constitution and laws of the State of Texas, sit- uated and owned in the City of Fort Worth on the let day of January, A, D. 1927) and on the 1st day of Amuary of each year thereafter until said debt renraspnted by said bonds and coupon interest notes shall have been dully p id, and if, at any time, such tax should be insufficient, then it shall be the duty of the City Council or any other governing body of the City of Fort 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 deficienoy until all interest shall have been paid and the sinking fund established as required by the Con- stitution of the State of Texas and the Charter of the City of Fort Worth. SECTION V. That it shall be the duty of the City Council of the City of Dort Worth and its successors, and of the government of the City of Fort Worth, by levying taxes for general pur- poses for the said City of Fort worth for the year 1027, and for every successive year during the life of said bonded debt or any T.rt thereof, to include in such levy the special tag of 2.71 cents on the One Hundred ($100.00) Dollars property valuation (or so much thereof as may be requisite ana necessary) provided for in the next preceding section of this ordinance, and such special tax shall on no account whatsoever be dis- placed therefrom, SM TION VI. That the special tax hereinbefore provided for, vhen Qollected, shall be placed and kept in separate fund and shall be devoted to the payment of the interest and the extinguish- ment of the principal of all and singmlar the bcnds hereinabove mentioned as same matures from time to time, and shall not be used, applied or diverted to any other purpose or object what- soever; and the funds derived from said tag shall be held and listed as 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 Sao specified as such on his books. UC T ION VI I. That as soon as convenient after said bonds shall have been prepared and signed in the mnnner prescribed by the ordinance, they shall be submitted to the Attorney Gen- eral of the State of Texas, together with a certified 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 authorized and the assessed value of the taxable property in said City, for his approval, and none of said bonds shall be negotiated, sold or transferred Lentil 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 Pdb lic Accounts for registration. SECTION VIII. That the City Secrotarr►Treaarzrer of the City of Fort Worth, or other lawful custodian of such funds, during the months of July and Jvnnary of each and every year during the life of said bonds or part thereof, and not later than the 20th day of each of aaid months, shall transmit su`ftoient money out of the interest funds hereinbefore created, for the payment of the semi-saanual interest accruing on said bonds, to the Han- over National Bank of the City of 73v ''ork, State o-O 1 ew Tore, and likewise remittance 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. MOTION IX. All owes and parts of ordinances in conflict herewith be and they are hereby expressly repealed, SECTION L The holding or adjadioation of any section, porticm, or part hereof to be invalid, shall not effect the validity of any other section or -ort of this ordinance, but all such other sections, portions and parts hereof shall be and remain valid. SECTION XL. That this ordinance shall take effect and be in full force and effect from the date of its passage and it is so ordained.. layer H. C. l oaahms presiding at said meeting, submitted the motion to adopt said ordinance and all of the Co=oilw a, including the gayer, voted "W thereon and none voted "No". and the notion to adapt the ordiname was deoLtred to teaan3aouly passed and adopted. THE MATH OF TIM COMM flF TARRM. It I. L. Van Z=dt, Jr., City SearstarpIr"es"r of the City of Fort Wart]„ do hereby certify that the above fey idt�foi�iFNi rogoin; erdimnee is a true and gpcoor t copy of Ordi oo Iry rr'x and that sme as vanixonely passed and adopted by the City Com oil of the City of Fort worth,Teaae, at a regdar meeting hold in the Coil, Chambers at the City Hall on Tiosday tkq.. "y , A. D. 1A...rw.�rro WITWS my head at Fort Worth, Toxa*, this tho. ;. day of , A. D. JML___,,. CITY- save ary4 eaaee�r.