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HomeMy WebLinkAboutOrdinance 525 ORDIIJAIICE ITO. �r✓'— An Ordinance pursuant to Section 19, Chapter XV of the City Charter of the City of Fort Worth and an election held there- under on July 22nd. A. D. 1916 in said City of Fort Worth, authorizing the issuance of Two Hundred Twenty-five Thousand ($22,4 000.00) Dollars of the bonds of the Corporate Government of the City of Fort Worth to be known as "Series 31 School Bonds;" all of said bonds to be in denominations of One Thousand ($1,000.00) Dollars each, and bearing interest from date at the rate of five (5) per cent per annum, payable semi-annually, 'with coupon interest notes attached, said bonds to run for a period of Forty (40) years, but redeemable, at the expiration of Twenty (20) years, or any interest paying period thereafter. Whereas, by the terms of Section 19, Chapter XV of the present Charter of the City of Fort Worth enacted by the Thirty-first Legislature of the State of Texas, power is and was conferred upon the Board of Commissioners of the City of Fort Worth to provide for the issuance of Four Hundred Thousand ($490,000.00) Dollars of bonds for the City of Fort Worth during any four years for the purpose of increasing and im- proving the school fadilities in said city, and for the pur- chase of lands therefor, the construction of buildings there- on, and the repair, re-construction and rek6o Mticn thereof, and there has been issued on Tune let. 1909, Three Hundred Thousand ($300,000.00) Dollars of bonds of the City of Fort Worth for school purposes and on the 12th day of April 1`9110 there were issued One Hundred Thousand ($100,000.00)„ of bonds of said City for school purposes, and on July lot. 1913 there were issued One Hundred Seventy-five Thousand ($175,000.00) Dollars of bonds of the city of Fort Worth for school purposes, and more than four years has passed since the issuance of the first two above mentioned series of bonds, and this issue of �2. Two Hundred Twenty-five Thousand ($225,000.00) Dollars does not exceed the limit as fixed by said Section 19, Chapter XV of the City Charter of the City of Fort Worth; and, Whereas, said Charter further provides that such band issue shall not be made by said Board of Commissioners, except upon request therefor by the Board of Trustees of the Independ- ent School District of the City of Fort Worth, and also that 'before said bonds shall be issued, the question of such issuance shall first be submitted to the qualified voters of said Inde- pendent School District of the City of Fort Worth who are proper- ty tax payers therein; and MOMS, on the 20th day of June A. D. 1916, pursuant to said Charter provision, the Board of Trustees of the Independent School District of the City of Fort Worth requested of said Board of Commissioners of the City of Fort Worth the issuance of Two Hundred Twenty-Five Thousand ($225,000.00) Dollars of School Bonds of the Corporate Government of the City of Fort Worth as set forth and provided for in resolution dated 9th day of June A. D. 1916, and adopted by the Board of Trustees of the Independent School District of the City of Fort Worth on said date; and, WHEREAS, on the 20th day of June, A. D. 1916, said Board of Commissioners pursuant to such request and the aforesaid Charter provisions, by resolution of that date adopted, referred the matter of such bond issue and the authority to enact an ordinance there- for to the qualified tax paying voters in said city, at an election held for that purpose in the various yards of said City, on the 22nd, day of July A. D. 1916; and, 71HUZAS, on the 22nd day of July, A. D. 1916, an election was duly and regularly head in the said City of Fort Worth in the various wards of said City at which was submitted to the qualified tax paying voters of said City and School District the matter of the issuance of said Bonds in the following form, #3. "Official Ballot". For Bond Issue of $225,000.00 the proceeds to be Expended in Increasing and Improving the School Facilities in said City, and for the Purchase of Lands Therefor, and for the construction of School Buildings thereon, and the repair, reconstruction and and renovation of school buildings in said Independent School. District of the City of Fort Worth. Against the Bond Issue of $225,000.00 the proceeds to be expended in increasing and improving the School Facilities in said City, and for the Purchase of Lands therefor, and for the Construction of School Buildings thereon, and the repair, reconstruc- tion and renovation of School Buildings in said Independent School District of the City of Fort Worth. " The said election resulted as follows: For the issuance of said bonds for schoc_1 purposes, there were cast 1087 votes, and against the issuance of said bonds .for school purposes, there were cast 510 votes; and, WHEREAS, on the 25th day of July A. D. 1916, at a regular meeting of the Board of Commissioners of the City of Fort Worth on said date, retuans of said election were duly canvassed and the votes counted, and the result declared as hereinbefore specified, NOW THMUM RE;- BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF FORT WORTH:- See. 1. That the Mayor and City Secretary of the City of Fort Worth be, and they are hereby authorized and directed to prepare and execute in the name of and for and on behalf of the City of Fort Worth and under its corporate seal as the act and obligation of said City, bonds of the Corporate Government of said City, which shall be ]mown and denominated as "Series 31 School Bonds" of the aggregate principal sum of Two Hundred Twenty-five Thousand ($225,000.00) Dollars, and said bonds shall recite upon their face the purpose for which they are issued and shall refer to the provision of the City Charter and this Ordi- #4. nanee as authorizing the same. This series of Hohool Bonds shall consist of two Hundred Tnnnty-five (225) in number, and shall be numbered consecutive- ly from One (1) to Two Hundred Twenty-five (225) inclusive and each of said bonds shall be of the denomination of One Thousand ($1,000.00) Dollars, said series embracing Two Hundred Twenty-five (225) bonds of the par valise of Two Hundred Twenty-five Thousand (225,000.00) Dollars, all of said bonds shall be datedrthe let. day of August A. D. 1916 and shall be and become payable Forty (40) years from the date thereof to bearer, with the provision, however, that same shall be redeemable at the expiration of Twenty (20) years from the date thereof, or at any interest paying period thereafter, in which event, interest shall thereafter cease, and the interest coupons which shall not yet have matured shall be cancelled, which said bonds shall bear interest at the rate of Five (5) per cent per annum, payable semi-annually, which said interest shall be represented by coupon notes, each bond being only for the principal sum,having attached to it Eighty (80) coupon notes of Twenty-five ($25.00) Dollars each, representing the semi-annual interest in- stallments, both principal and interest payable to bearer at the Hanover National Bank in the City of New York, State of New York, in gold coin of the United States of the present weight and fineness. All of said bonds shall be executed in the name of the City of Fort Worth by the Mayor, and attested by the City Secretary under the corporate seal of the City, save that in the matter of the coupons, the engraved or lithographed signMire of the Mayor and City Secretary shall be sufficient. Sec. 2. Said Bonds shall not be sold for less than Par and the accrued interest. �5. See. 3. This Ordinance shall take effect and be in force fror4 and after its passage as prescribed by law. APPROVED A3 TO FORM; �j Corporation Counsel, I hereby certify that the above and foregoing Ordinance was duly pre- sented and unanimously passed and adopted by the Boar d of Commission- regular era of the City of Fort Worth at a/session of said Board held Tuesday, August let, A. D. 1916. l City Secretary.