HomeMy WebLinkAboutOrdinance 7917 1979 REGIONAL AIRPORT
TEXAS INTERNATIONAL AIRLINES
SPECIAL FACILITIES BOND ORDINANCE
Authorizing the Issuance of
DALLAS-FORT WORTH REGIONAL AIRPORT
TEXAS INTERNATIONAL AIRLINES SPECIAL FACILITIES
REVENUE BONDS, SERIES 1979
$2,000,000
Adopted by
The City Councils of
THE CITY OF DALLAS, TEXAS
and
THE CITY OF FORT WORTH, TEXAS
INDEX
ARTICLE I
TITLE, FINDINGS AND RATIFICATION
Page
Section 1.1. Short Title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Section 1.2. Findings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Section 1.3. Ratification . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
ARTICLE II
DEFINITIONS AND CONSTRUCTION
Section 2.1. Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Section 2.2. Construction and Effect of Covenants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
ARTICLE III
SERIES 1979 BONDS
Section 3.1. Authorization . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Section 3.2. Date, Denomination, Maturity and Interest Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Section 3.3. Paying Agent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Section 3.4. Prior Redemption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Section3.5. Form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
ARTICLE IV
EXECUTION, APPROVAL, REGISTRATION, SALE AND DELIVERY
OF SERIES 1979 BONDS
Section 4.1. Method of Execution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Section 4.2. Approval and Registration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Section 4.3. Sale, Purchase Contract Approval . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
ARTICLE V
DISPOSITION OF BOND PROCEEDS, USES AND WITHDRAWALS
Section 5.1. Interest and Sinking Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Section 5.2. Reserve Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Section 5.3. Construction Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Section 5.4. Disbursements from Construction Fund; Surplus . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
ARTICLE VI
FACILITIES AGREEMENT, COLLECTION OF NET RENT
Section 6.1. Facilities Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Section 6.2. Collection of Net Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
(i)
ARTICLE VII
PLEDGE, SPECIAL FUNDS; FLow OF FUNDS
Page
Section 7.1. Pledge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Section 7.2. Special Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Section 7.3. Flow of Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Section 7.4. Uses of Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Section 7.5. Security and Investment of Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Section 7.6. Exempt Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
ARTICLE VIII
COMPLETION BONDS, ADDITIONAL BONDS AND REFUNDING BONDS
Section 8.1. Completion Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Section 8.2. Additional Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Section 8.3. Refunding Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Section 8.4. No Further Encumbrances of Pledged Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
ARTICLE IX
MISCELLANEOUS COVENANTS
Section 9.1. Completion of Initial Special Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Section 9.2. Payment of Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Section 9.3. Transfers of Airport and Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Section 9.4. Rules and Regulations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Section 9.5. Books, Audits, Inspection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Section 9.6. Maintenance of Facilities, Inspection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Section 9.7. Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Section 9.8. Rates in Certain Instances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
ARTICLE X
EVENTS AND REMEDIES OF DEFAULT
Section 10.1. Events of Default . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Section 10.2. Remedies for Default . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
ARTICLE XI
AMENDMENTS TO ORDINANCE
Section 11.1. Limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Section 11.2. Corrections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
ARTICLE XII
DEFEASANCE, IRREPEALABLE, SEVERABILITY AND REPEALER
Section 12.1. Defeasance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Section 12.2. Ordinance Irrepealable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Section 12.3. Severability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Section 12.4. Repealer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
(ii)
CITY OF DALLAS ORDINANCE
No. i 4,2s-<.
CITY OF FORT WORTH ORDINANCE
No. 99I7
AN ORDINANCE ADOPTED CONCURRENTLY by the City Councils, respectively, of the Cities of
Dallas and Fort Worth, authorizing the issuance of Dallas-Fort Worth Regional Airport Texas Inter-
national Airlines Special Facilities Revenue Bonds, Series 1979, in the aggregate principal amount of
$2,000,000, for the purpose of acquiring, constructing, fabricating and installing certain Special
Facilities for the jointly owned Dallas-Fort Worth Regional Airport of the Cities; providing for the
security for and payment of said bonds from the Net Rent received under a certain Texas International
Airlines Special Facilities Lease Agreement pertaining to the leasing and operation of said facilities;
providing that the same shall not be payable from taxation; providing the form, terms and conditions of
such bonds and the manner of their execution; containing covenants and commitments regarding the
payment of said bonds; the acquisition and construction of said facilities, and regarding transfers of
airport properties; providing other details concerning such bonds, said Agreement and said Airport;
providing for the deposit of certain of the proceeds of such bonds into the Texas International Airlines
Special Facilities Acquisition and Construction Fund of the joint Airport Fund under and subject to the
control of the Dallas-Fort Worth Regional Airport Board; authorizing said Board to see to the
delivery of said bonds as herein directed and directing that due observance of the covenants herein
contained be made by the Board to the extent such covenants are performable by it; providing and
describing events of default and the consequences thereof; providing a method of amending this
Ordinance; ordaining other matters incident and relating to the subject and purpose hereof; and
declaring an emergency.
WHERYAs, the Cities of Dallas and Fort Worth (hereinafter collectively called the "Cities")
heretofore determined that the then existing commercial aviation and airport facilities of the Cities,
specifically Love Field Airport of the City of Dallas and Greater Southwest International Airport of
the City of Fort Worth, were wholly inadequate to meet the foreseeable commercial aviation needs
of the citizens of the Cities and the residents and citizens of the entire North Central Texas
Region; and
WHEREAS, the Cities have further found and determined that the most effective, economic and
efficient means of providing needed airport facilities to be the construction and equipment of a
centrally located airport for the Cities, and to that end by an agreement entitled and hereinafter
defined as the "Contract and Agreement," the Cities continued, expanded and further defined the
powers and duties of the Dallas-Fort Worth Regional Airport Board (hereinafter called the "Board")
theretofore created; created the joint Airport Fund of the Cities; and provided for the construction
and operation of an airport known as the "Dallas-Fort Worth Regional Airport", also known as the
"Dallas-Fort Worth Airport" (hereinafter called the"Airport"); and
WHEREAS,in the exercise of their lawful authority, the Cities have obtained and will obtain in the
future funds for the purpose of the construction, development and equipment of the Airport in both
its first and subsequent phases; and
WHEREAS, the Airport, the first phase having been substantially completed, is the major hub,
primarily passenger and commercial cargo, airport for the metropolitan area of the Cities and the
entire North Central Texas Region and in that regard will contain many separately identifiable
systems, complexes and facilities, each of which separately constitute but a part of the Airport as a
whole, and all of which are and will be functionally related and essential to the proper functioning
of the others;and
WHEREAS, it has been found and determined by the Board in accordance with its lawful duties
acting on behalf of the Cities that it is essential, appropriate and necessary to the proper and orderly
functioning of the Airport for its public purposes that adequate, well-planned, and major facilities
(hereinafter called the "Texas International Airlines Special Facilities") be established, constructed,
fabricated and equipped at the Airport for the public using the Airport, all as a part of the Airport's
essential and necessary systems and facilities; and
WHEREAS, the funds with which to construct and develop the Airport have been and will be
obtained under the authority expressed, reserved and recited in a certain Ordinance adopted jointly
by the Cities, effective as of November 12, 1968, and bearing the short title "1968 Regional Airport
Concurrent Bond Ordinance" (hereinafter called"1968 Concurrent Bond Ordinance"); and
WHEREAS, among other rights reserved therein and subject to its other terms, Section 8.7
of the 1968 Concurrent Bond Ordinance reserves to the Cities, when requested by the Board, the
right, power and authority to issue "Special Facility Bonds" for the purpose of paying all costs of
construction of"Special Facilities" (as both such terms are therein defined); and
WHEREAS, it has also been determined necessary and appropriate by the Board that the Texas
International Airlines Special Facilities be financed as Special Facilities, within the meaning of the 1968
Concurrent Bond Ordinance, through the issuance of the Special Facility Bonds hereinafter described,
and the Board has requested the Cities to issue bonds as such and for such purposes, and, in
accordance with the procedures and provisions described and provided in the Contract and Agree-
ment, the Board has executed a certain "Passenger Service Special Facilities Agreement" (hereinafter
defined as and called the "PSF Agreement"), dated as of April 1, 1972, with, among others, Texas
International Airlines, Inc., and has also executed a certain Texas International Airlines Special
Facilities Lease Agreement (hereinafter called the "Facilities Agreement") with Texas International
Airlines, Inc., as Lessee, the Facilities Agreement being dated as of June 1, 1979, and all of its terms
and provisions being hereby adopted by reference and incorporated herein for all purposes; and
WHEREAS, the Board as permitted by law and by the Contract and Agreement, further considers
it appropriate and necessary in the public interest to have the Texas International Airlines Special
Facilities operated for it and on its behalf, but under and subject to its jurisdiction and control and to
the jurisdiction and control of the Cities under the Contract and Agreement, by Texas International
Airlines, Inc., as set forth in the Facilities Agreement and the PSF Agreement; and
WHEREAS, the City Councils have each found and determined as to each that the matters to
which this Ordinance relates are matters of imperative public need and necessity in the protection of
the health, safety and morals of the citizens of each of the Cities and, as such, that this Ordinance is
an emergency measure and shall be effective as to each City respectively upon its adoption by its
City Council; and
WHEREAS, as to each respective City Council, it has been found and determined and it is hereby
found and determined that the meeting at which this Ordinance is adopted is open to the public as
required by law and that notice of the time, place and purpose of said meeting was given and posted
in accordance with the requirements of Article 6252-17, Vernon's Texas Civil Statutes, as amended;
Now,THEREFoRE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DALLAS,
TEXAS:
Now, THEREFoRE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH,TEXAS:
ARTICLE I
Title, Findings and Ratification
SECTION I.I. Short Title. This Ordinance may be cited by the short title "1979 Texas International
Airlines Special Facilities Bond Ordinance."
2
SEMON 1.2. Findings. All of the declarations and findings contained in, recited or repeated in
the preambles of this Ordinance and in the preambles of the Facilities Agreement are made a part
hereof and shall be fully effective as a part of the ordained subject matter of this ordinance and are
adopted by the Cities as true and proper determinations and findings of the Cities.
SEMON 1.3. Ratification. All actions heretofore taken (not inconsistent with the provisions hereof)
by the Cities, by the Board and by the employees and officers of each directed toward the Airport
and the issuance of the bonds herein authorized, expressly including the authorization, execution
and delivery of the Facilities Agreement and the PSF Agreement by the Board are hereby ratified,
approved,confirmed,accepted and adopted.
ARTICLE II
Definitions and Construction
SF=ox 2.1. Definitions. In and throughout this Ordinance, the following words and expressions
shall have the following meanings,respectively,to-wit:
(a) "Airport" means the Dallas-Fort Worth Regional Airport, also known as the Dallas-
Fort Worth Airport,as aforesaid.
(b) "Additional Bonds" means any Bonds issued for the purposes specified in Section 8.2
hereof.
(c) `Board" means the Dallas-Fort Worth Regional Airport Board, as aforesaid.
(d) "Bonds" means the Series 1979 Bonds, the Completion Bonds, the Additional Bonds
and any Refunding Bonds issued in lieu thereof,all of which are Special Facility Bonds within the
meaning of the 1968 Concurrent Bond Ordinance.
(e) "Cities" means, collectively, the municipal corporations and political bodies and sub-
divisions of the State of Texas known as the City of Dallas, in the County of Dallas, and the
City of Fort Worth, in the County of Tarrant, and such term shall also be deemed to include
and refer to, in all appropriate respects, any successor political body, authority or subdivision if
the Airport shall ever be transferred thereto as permitted by Section 9.3 hereof.
(f) "City Council' or "City Councils" means in each instance the governing body as from
time to time constituted of each of the Cities or the plural thereof shall mean and refer to the
governing bodies of both of the Cities.
(g) "Contract and Agreement" means that certain agreement entitled "Contract and Agree-
ment,"entered into actually on April 23, 1968, but effective as of April 15, 1968, by and between
Dallas and Fort Worth, which by its terms continues, expands, and further defines the powers
and duties of the Board, creates the Joint Airport Fund, as herein defined, and provides for
the construction and operation of the Airport.
(h) "Completion Bonds" means Bonds issued for the purposes specified in Section 8.1
hereof.
(i) "Costs of the Special Facilities" or "Costs of the Initial Special Facilities" means the
items of costs described and enumerated in subsection (i) of Section 1.1 of the Facilities
Agreement.
(j) "Dallas"means the City of Dallas,Texas.
(k) "Director of Planning and Engineering" means that person who shall from time to time
be in charge of the Board's Planning and Engineering Department.
3
(1) "Director of Finance" means the Director of Finance of the Board.
(m) "Executive Director" means the chief administrative and executive officer of the Board
as described and required by the Contract and Agreement.
(n) "Event of Default" means any of the events stated in Section 10.1 hereof as events of
default.
(o) "Facilities Agreement" means the agreement with the Lessee described in the preambles
hereof.
(p) "Fort Worth" means the City of Fort Worth, Texas.
(q) "Ground Rent" means the rent payable to the Board under Section 5.1 of the Facilities
Agreement.
(r) "Holder" when used in conjunction with the Bonds or coupons appertaining to the
Bonds, means the person in possession and the apparent owner of the designated item.
(s) "Independent Accountant" means any Certified Public Accountant or firm of Certified
Public Accountants, or both as determined by the Board, duly licensed to practice and practicing
as such under the laws of the State of Texas, appointed and paid by the Board, who is, in fact,
independent and not under the dominion of the Board or the Cities.
(t) "Initial Special Facilities" means the facilities and properties defined and described as
such in the Facilities Agreement.
(u) "Investment Securities" means any of the securities from time to time permitted by the
agreement with the Treasurer to be utilized by him as security for the funds of the Board on
deposit with him (except personal bonds), and additionally includes any time deposits or cer-
tificates of deposit of any State Bank or National Banking Association which are themselves
secured by any of the above and foregoing.
(v) "Joint Airport Fund" means the master fund by that name created by the Cities for the
purpose of accurately and adequately recording and accounting for the ownership, operations
and properties to the joint venture of the Cities evidenced by the Contract and Agreement,
all as described and provided in Section 17 of the Contract and Agreement.
(w) "Lessee" means Texas International Airlines, Inc., a )Delaware Corporation, as afore-
said,being the Lessee under the Facilities Agreement.
(x) "Net Rent" means the rent payable to the Board under Section 5.2 of the Facilities
Agreement and herein pledged to the payment of the Bonds.
(y) "1968 Concurrent Bond Ordinance" means the Ordinance described and referred to
by that name in the preambles hereof.
(z) "Paying Agent" with respect to the Bonds, means the Allied Bank of Texas, Houston,
Texas.
(AA) "Pledged Revenues" means the revenues specified in Section 7.1 hereof and therein
pledged to the payment of the Bonds.
(BB) "Refunding Bonds" means any bonds issued for the purposes authorized under
Section 8.3 hereof.
(CC) "Series 1979 Bonds" means the series of Bonds authorized in Article III hereof.
(DID) "Texas International Airlines Special Facilities" means the facilities and properties
defined in the Facilities Agreement as the"Special Facilities."
4
(EE) "Texas International Airlines Special Facilities Bond Interest and Sinking Fund" means
the Fund by that name created in Section 7.2 of this Ordinance and constituting a part of the
joint Airport Fund.
(FF) "Texas International Airlines Special Facilities Net Rent Clearance Fund" means the
fund by that name created in Section 7.2 of this Ordinance and constituting a part of the joint
Airport Fund.
(GG) "Texas International Airlines Special Facilities Bond Reserve Fund" means the fund by
that name created in Section 7.2 of this Ordinance and constituting a part of the joint Airport Fund.
(1111) "Texas International Airlines Special Facilities Acquisition and Construction Fund"
means the fund by that name created in Section 5.3 of this Ordinance and constituting a part of the
joint Airport Fund.
(II) "Treasurer" means the duly designated Treasurer for the Board and the joint Airport
Fund as described and contemplated in the Contract and Agreement.
SECTION 2.2. Construction and Effect of Covenants. This Ordinance, except where the con-
text hereof by clear implication shall otherwise require, shall be construed and applied as follows:
(a) Definitions include both singular and plural.
(b) Pronouns include both singular and plural and cover all genders.
(c) Any percentage of Bonds, for the purposes of this Ordinance, shall be computed on the
basis of the unpaid principal amount thereof outstanding at the time the computation is made or is
required to be made hereunder.
(d) None of the covenants herein shall ever impose, or be construed as imposing, a liability
or obligation on the part of the Cities, or either of them, or the Board, either (i) to pay the
principal of or interest on any Bonds out of any funds derived by taxation; or (ii) to pay the
Bonds out of the "Gross Revenues" of the Airport, as defined in the 1968 Concurrent Bond
Ordinance.
(e) All covenants contained herein which require the performance of an affirmative, com-
mon or joint act with respect to the Airport, the Texas International Airlines Special Facilities or
the Bonds shall be performed, on behalf of the Cities acting jointly, by the Board, and from and
after the effective date of this Ordinance, the Board shall be obligated to undertake and perform
each and every such covenant and this Ordinance shall constitute a directive and order to
the Board to that effect.
(f) All covenants contained herein requiring the Cities to pay the principal of and the interest
on Bonds shall be joint, and not several, obligations, and all such obligations shall be payable
and collectible solely from Pledged Revenues, such revenues being owned in undivided
interests by Dallas (to the extent of 7/llths thereof) and by Fort Worth (to the extent of
4/11ths thereof); and each, and every holder of Bonds shall by his acceptance thereof consent
and agree that no claim, demand, suit or judgment for the payment of money, shall ever be
asserted, entered or collected against either City individually, except out of said funds and
exceeding in the case of Dallas an amount equal to 7/llths of the total amount asserted or
demanded and in the case of Fort Worth an amount equal to 4/llths of the total amount
asserted or demanded.
(g) In the event of a transfer of the Airport to another political body or political sub-
division, as permitted by Section 9.3 hereof, the governing board of such political body, when
5
operating the Airport under and subject to the provisions of this Ordinance, shall be obligated
to perform all of the covenants and duties hereof imposed upon the Cities themselves or upon
the Cities acting through the Board, and shall be authorized to.exercise the rights reserved
herein to the Cities or to the Board in such manner as may be appropriate and consistent with
its usual and customary methods of exercising similar rights in other instances so long as the
method or methods utilized do not impair or defeat the substantive purposes of this Ordinance.
(h) Nothing in this Ordinance shall be deemed or construed to prohibit the Cities or the
Board from financing, acquiring, constructing, installing and equipping any special facilities for
the Airport of any type considered by the Board to be necessary or desirable in connection
therewith under the 1968 Concurrent Bond Ordinance through the issuance of special facility
bonds therefor payable from lease agreements with any parties, including the Lessee, and
expressly including the right to acquire, construct, fabricate and install (original or replacement)
other Texas International Airlines Special Facilities or facilities of a type similar thereto by
any method additional to the issuance of Completion Bonds or Additional Bonds and in any
locations at the Airport, and either within or without the Leased Land, as defined in the
Facilities Agreement, or any part thereof, through the execution of other agreements with
other parties,or the Lessee.
ARTICLE III
Series 1979 Bonds
SEcnoN 3.1. Authorization. (a) For the purpose of providing funds with which to pay the Costs
of the Initial Special Facilities, as contemplated by the Facilities Agreement, it is hereby declared
necessary that the Cities authorize and issue, and the Cities hereby authorize and direct the issuance
of,"Dallas-Fort Worth Regional Airport Texas International Airlines Special Facilities Revenue Bonds,
Series 1979" (hereinabove defined as the "Series 1979 Bonds"), in the aggregate principal amount
of $2,000,000, payable both as to principal and interest solely out of Pledged Revenues, as described,
defined and pledged herein.
(b) The Series 1979 Bonds are and shall be "Special Facility Bonds," issued under the authority
reserved to the Cities in Section 8.7 of the 1968 Regional Airport Concurrent Bond Ordinance and
pursuant to the authority granted the Cities under and by virtue of Article 1269j-5, Article 1269j-5.1,
Article 1269j-5.2, Article 46d, and other applicable provisions of Vernon's Texas Civil Statutes, as
amended.
S=oN 3.2. Date, Denomination, Maturity and Interest Rate. The Series 1979 Bonds shall be
dated July 1, 1979, shall be in the denomination of $5,000 each, shall consist of 400 Bonds numbered
in direct numerical order from 1 through 400 and shall mature and become due and payable on
November 1, 1987, and bear interest at the rate of 6%% per annum from their date to such maturity
unless earlier redeemed as provided hereinbelow. Interest at such rate shall be evidenced by coupons
initially attached to each of the Series 1979 Bonds payable on May 1, 1980, and semi-annually there-
after on each November 1 and May 1.
S=oN 3.3. Paying Agent. Both the principal of and the interest on the Series 1979 Bonds shall
be payable to bearer in lawful money of the United States of America without deduction for exchange
or collection charges at the offices of the Paying Agent.
SEcnoN 3.4. Prior Redemption. (a) The Series 1979 Bonds may be redeemed, at the option of
the Cities, prior to their stated maturity in whole or in part by lot on November 1, 1981, from any
moneys (other than the moneys on deposit in the Texas International Airlines Special Facilities
Bond Interest and Sinking Fund as provided in paragraph (ii) of subsection (a) of Section 7.3 of
this Ordinance) for a redemption price equal to the principal amount of bonds thus optionally
redeemed,plus accrued interest to the date fixed for redemption.
6
(b) The Series 1979 Bonds shall be redeemed as a whole at any time not later than 120 days
after interest on the Series 1979 Bonds shall be finally determined, upon the basis of a ruling of the
Internal Revenue Service or a determination by a court of competent jurisdiction, to be includable
for Federal income tax purposes in the income of all recipients thereof subject to Federal income
taxation, provided that such determination of taxability is a result of the breach of the covenant made
in Section 7.6 hereof. The redemption price of the Series 1979 Bonds redeemed pursuant to this
subsection (b) shall be the principal amount thereof, plus accrued interest to the date of redemption.
(c) At least thirty (30) days prior to the date of any such redemption, the Board, acting on behalf
of the Cities, shall cause a written notice of such redemption (specifying the Series 1979 Bonds to be
redeemed) to be published at least once in a newspaper or financial publication published in the City
of New York, New York. By the date fixed for any such redemption, due provision shall be made with
the Paying Agent for the payment of the principal amount of the Series 1979 Bonds to be so redeemed,
plus accrued interest thereon to the date fixed for redemption. If the written notice of redemption is
published, and if due provision for payment is made, all as provided above, the Series 1979 Bonds
which are to be so redeemed,thereby automatically shall be redeemed prior to maturity, and they shall
not bear interest after the date fixed for redemption, and shall not be regarded as being outstanding
for any purpose except for the purpose of receiving the funds so provided for such payment.
SEmoN 3.5. Form. The form of the Series 1979 Bonds, including the form of Registration Certifi-
cate of the Comptroller of Public Accounts of the State of Texas to be printed and endorsed on each
Bond, and the form of the interest coupons to be attached thereto, shall be, respectively, substantially
as follows, to-wit:
(FORM OF SERIES 1979 BONDS)
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTIES OF DALLAS AND TARRANT
DALLAS-FORT WORTH REGIONAL AIRPORT
TEXAS INTERNATIONAL AIRLINES SPECIAL FACILITIES REVENUE BOND
SERIES 1979
No. $5,000
On the 1st day of November, 1987, the Cities of Dallas and Fort Worth (herein collectively
called the "Cities"), municipal corporations duly incorporated under the laws of the State of Texas,
for value received, hereby jointly promise to pay to bearer, solely from the revenues and funds
described herein,the total principal sum of
FIVE THOUSAND DOLLARS
and to pay interest thereon from the date hereof to the maturity or earlier redemption of this bond
at the rate of 6%% per annum, evidenced by initially attached coupons payable May 1, 1980,
and semi-annually thereafter on each November 1 and May 1. Both principal and interest shall be
payable in lawful money of the United States of America upon surrender of this bond or the proper
coupons as they severally become due, at Allied Bank of Texas, Houston, Texas, paying agent, without
exchange or collection charges to the bearer hereof.
The bonds of this Series may be redeemed, at the option of the Cities, prior to their stated
maturity in whole or in part by lot, on November 1, 1981, from any moneys (other than the moneys
on deposit in the interest and sinking fund therefor) for a redemption price equal to the principal
amount of bonds thus optionally redeemed plus accrued interest to the date fixed for redemption.
7
In addition, the Series 1979 Bonds shall be redeemed as a whole at any time not later than 120
days after interest on the Series 1979 Bonds shall be finally determined, upon the basis of a ruling
of the Internal Revenue Service or a determination by a court of competent jurisdiction, to be
includable for Federal income tax purposes in the income of all recipients thereof subject to Federal
income taxation, provided that such determination of taxability is a result of the failure to comply
which the covenant contained in the jointly adopted ordinance of the Cities known by the short
title, "Texas International Airlines Special Facilities Bond Ordinance" (the "Ordinance") authorizing
the Series 1979 Bonds that the Board, acting on behalf of the Cities, will not expend the proceeds
of the Series 1979 Bonds for any purpose or undertake, or permit Texas International Airlines, Inc., to
undertake or permit, any act or use of the leased premises which would alter the nature of the
facilities from those described in Section 103(b)(4) of the Internal Revenue Code of 1954, as amended.
When bonds shall be redeemed pursuant to the foregoing, the specific bonds to be redeemed
shall be determined and a written notice of such redemption shall be given in the manner specified
in the Ordinance. By the date fixed for any such redemption, due provision shall be made with
the paying agent for the payment of the principal amount of the bonds to be so redeemed, plus
accrued interest thereon to the date fixed for redemption. If the written notice of redemption is
published, and if due provision for payment is made, all as provided. above, the bonds which are to
be so redeemed, thereby automatically shall be redeemed prior to maturity, and they shall not bear
interest after the date fixed for redemption, and shall not be regarded as being outstanding for any
purpose except for the purpose of receiving the funds so provided for such payment.
This bond is one of a duly authorized issue of bonds, dated ]duly 1, 1979, numbered from 1
through 400, of the denomination of $5,000 each, aggregating $2,000,000, issued by the Cities
for the purpose of providing funds for the purpose of acquiring, constructing, fabricating,installing and
equipping certain Special Facilities for the jointly owned Dallas-Fort Worth Regional Airport of
the Cities. For the purpose of providing for the issuance of this Series of bonds and securing
the payment thereof, the Cities have jointly pledged in the Ordinance their respective interests in cer-
tain moneys therein defined as"Pledged Revenues"which term includes certain net rents to be derived
by the Dallas-Fort Worth Regional Airport Board (the "Board") under and pursuant to the terms of a
certain Texas International Airlines Special Facilities Lease Agreement (the "Facilities Agreement")
dated as of June 1, 1979,between the Board and Texas International Airlines, Inc., a certificated air car-
rier serving and served by said Airport. Said Pledged Revenues, including said net rent, will be on de-
posit from time to time in various funds created and confirmed in and pursuant to the Ordinance, and
are unconditionally and irrevocably committed and pledged to the purposes specified for said funds
including the payment of this Series of bonds, and other bonds, if any, which may be issued under
the Ordinance. Reference is made to the Ordinance and to the Facilities Agreement for a further
description of Pledged Revenues and said net rent, the nature and extent of the security thereof, a
statement of the rights, duties and obligations of each of the Cities, the rights and remedies of bond-
holders in the event of default thereunder, and further rights of the holders of this Series of bonds, to
all the provisions of which the holder hereof by the acceptance of this bond assents and agrees.
Texas International Airlines, Inc., has unconditionally guaranteed to Allied Bank of Texas,
Houston, Texas, as Trustee on behalf of the holders of the Series 1979 Bonds and the coupons
appertaining thereto the payment of the principal of, and interest on the Series 1979 Bonds pursuant
to a certain Guaranty Agreement between said parties dated as of June 1, 1979. Reference is made to
such Guaranty Agreement for a further description of the rights of bondholders and the obligations of
Texas International Airlines,Inc.,thereunder.
As provided in the Ordinance, the obligations of the Cities to pay money hereon out of Pledged
Revenues are joint, and not several, and no claim, demand, suit or judgment shall ever be asserted,
entered or collected against or from one City without the other and no individual liability shall ever
8
exceed in the case of Dallas 7/11ths of the total amount thereof, and in the case of Fort Worth
4/11ths of the total amount thereof, and such sums shall be payable and collectible solely from the
funds in which Pledged Revenues shall from time to time be on deposit.
The holder hereof shall never have the right to demand payment of this obligation out of
any funds raised or to be raised by taxation.
It is hereby certified and recited that all acts and things required by the Constitution and
laws of the State of Texas to be done, to exist, and to be performed precedent to and in the
issuance of this bond and the Series of which it is one, the adoption of the Ordinance and the execution
and delivery of the Facilities Agreement have been done, do exist and have been performed as so
required.
IN WITNESS WHEREOF, the City Council of the City of Dallas, Texas, has caused the seal of
that City to be impressed, printed or lithographed hereon and this bond to be signed by the
facsimile signature of its Mayor and countersigned by the facsimile signatures of its City Auditor
and its City Secretary; and the City of Fort Worth, Texas, has caused the seal of that City to be
impressed, printed or lithographed hereon and this bond to be signed by the facsimile signature of
its Mayor, countersigned by the facsimile signature of its City Secretary, and approved as to form
and legality by the facsimile signature of its City Attorney; and each said City Council has caused
the attached coupons to be signed by the facsimile signatures of the Mayor and City Auditor of the
City of Dallas and by the Mayor and City Secretary of the City of Fort Worth.
/s/
Mayor, City of Dallas,Texas
[SEAL]
COUNTERSIGNED:
/s/
City Auditor,City of Dallas,Texas
IS/
City Secretary,City of Dallas,Texas
[SEAL] its/
Mayor,City of Fort Worth,Texas
COUNTERSIGNED:
/s/
City Secretary, City of Fort Worth,Texas
APPROVED AS TO FORM AND LEGALITY:
/s/
City Attorney, City of Fort Worth, Texas
9
(FORM OF COUPONS)
No. $
Unless due provision has been made for the redemption prior to maturity of the below numbered
bond to which this coupon appertains, the City of Dallas, Texas, and the City of Fort Worth,
Texas, jointly promise to pay to bearer, but solely out of the revenues specified, and subject to the
conditions stated, in said bond at Allied Bank of Texas, Houston, Texas, without exchange or
collection charges to the bearer hereof, the sum specified on this coupon, in lawful money of the
United States of America, for interest then due on the below numbered bond of the issue entitled
"Dallas-Fort Worth Regional Airport Texas International Airlines Special Facilities Revenue Bonds,
Series 1979," dated July 1, 1979. The holder hereof shall never have the right to demand payment of
this obligation out of any funds raised or to be raised by taxation. Bond No.
/s/
Mayor, City of Dallas, Texas
COUNTEPLSIGNED:
City Auditor, City of Dallas,Texas
/s/
Mayor, City of Fort Worth, Texas
COIINTERSIGM M:
/s/
City Secretary,City of Fort Worth,Texas
(FORM OF COMPTROLLER'S REGISTRATION CERTIFICATE)
OFFICE OF COMPTROLLER
STATE OF TExAs
Register No.
I hereby certify that this bond has been examined, certified as to validity and approved by the
Attorney General of the State of Texas in accordance with his written approving certificate on file in
my office; and that this bond has been by me this day registered as required by law.
WITNESS my signature and seal this
/s/
Comptroller of Public Accounts
of the State of Texas
[SEAL]
ARTICLE IV
Execution, Approval, Registration, Sale and Delivery of Series 1979 Bonds
SECTION 4.1. Method of Execution. Each of the Series 1979 Bonds shall be signed and executed
on behalf of Dallas by the facsimile signature of its Mayor and countersigned by the facsimile
signatures of its City Auditor and City Secretary, and the corporate seal of that City shall be
10
impressed, printed or lithographed on each bond. Each of the Series 1979 Bonds shall be signed
and executed on behalf of Fort Worth by the facsimile signature of its Mayor and countersigned
by the facsimile signature of its City Secretary; the same shall be approved as to form and legality by
the facsimile signature of the City Attorney of the City, and its corporate seal shall be impressed,
printed or lithographed upon each bond. The respective signatures of the Mayor and City Auditor
of Dallas and of the Mayor and City Secretary of Fort Worth shall be lithographed or printed upon
the coupons attached to the Series 1979 Bonds. All facsimile signatures placed upon the bonds and
their coupons shall have the same effect as if manually placed thereon, all as provided in Article
717j-1,Vernon's Texas Civil Statutes as amended.
SEanoN 4.2. Approval and Registration. The Board is hereby authorized to have control and
custody of the Series 1979 Bonds and all necessary records and proceedings pertaining thereto pending
their delivery, and the Chairman, officers and employees of the Board and of the Cities are hereby
authorized and instructed to make such certifications and to execute such instruments as may be
necessary to accomplish the delivery of said Bonds and to assure the investigation, examination, and
approval thereof by the Attorney General of the State of Texas and their registration by the State
Comptroller of Public Accounts. Upon registration of the Series 1979 Bonds, the Comptroller of
Public Accounts (or a deputy designated in writing to act for him) shall be requested to sign
manually the Comptroller's Registration Certificate prescribed herein to be printed and endorsed on
each said Bond and the seal of the Comptroller shall be impressed or printed or lithographed thereon.
The Chairman of the Board shall be further authorized to make such agreements with the purchasers
of said Bonds as may be necessary to assure that the same will be delivered to such purchasers in
accordance with the terms of sale at the earliest practicable date after the adoption of this Ordinance.
SEanoN 4.3. Sale, Purchase Contract Approval. (a) The Series 1979 Bonds are hereby sold in
accordance with law and shall be delivered to First Southwest Company, for a price of $2,000,000,
plus interest from the date of the Series 1979 Bonds accrued to the date of delivery thereof, and
subject to the other terms and conditions set forth in the below mentioned Contract of Purchase.
(b) The Contract of Purchase setting forth the terms of the sale of the Series 1979 Bonds to the
purchaser thereof referred to in (a) above is hereby accepted, approved and authorized to be
delivered in executed form to said purchaser. The Contract of Purchase shall be executed on behalf
of the City of Dallas by the City Manager with its corporate seal impressed thereon, attested by the
City Secretary, countersigned by the City Auditor, and approved as to form by the City Attorney. The
Contract of Purchase shall be executed on behalf of the City of Fort Worth by the City Manager with
its corporate seal impressed thereon, attested by the City Secretary, and approved as to form and
legality by the City Attorney.
ARTICLE V
Disposition of Bond Proceeds, Uses and Withdrawals
SwnoN 5.1. Interest and Sinking Fund. Any amount received as accrued interest upon the de-
livery of the Series 1979 Bonds is hereby appropriated from the proceeds of the Series 1979 Bonds
and ordered to be deposited to the credit of the Texas International Airlines Special Facilities
Bond Interest and Sinking Fund.
SEcnoN 5.2. Reserve Fund. It is hereby directed that from the proceeds of the Series 1979 Bonds,
the sum of$200,000 shall be deposited into the Texas International Airlines Special Facilities Bond Re-
serve Fund (hereinafter called "Reserve Fund") and used, applied and devoted to the purposes speci-
fied elsewhere herein for money on deposit in said Fund. Said amount shall be the maximum amount
required to be on deposit therein by reason of the Series 1979 Bonds. Additional deposits may be re-
quired to.be made thereto in accordance with ordinances authorizing Completion Bonds, Additional
Bonds or Refunding Bonds.
11
SEcrioN 5.3. Construction Fund. Except as otherwise provided in Section 5.1 and Section 5.2, here-
of, all proceeds from the sale of the Series 1979 Bonds shall be deposited promptly upon the receipt
thereof in the Texas International Airlines Special Facilities Acquisition and Construction Fund (here-
inafter called the "Construction Fund"), which is hereby created, and the moneys within said Fund,
including earnings from the investment thereof, shall be used solely for the purpose of paying the
Costs of the Initial Special Facilities.
SEcrioN 5.4. Disbursements From Construction Fund; Surplus. (a) Before any moneys shall be
withdrawn or any payments shall be made from the Construction Fund for Costs of the Initial Special
Facilities which directly relate to the physical construction and equipment thereof there shall be
filed with and approved by the Executive Director or his designee:
(i) a voucher which may contain any number of items signed by the Board's Director of
Planning and Engineering and stating in respect of each item to be paid:
(a) the item number of the payment;
(b) the name of the person to whom payment is due;
(c) the amount or amounts to be paid;
(d) the purpose for which the obligation to be paid was incurred in such detail as
shall be satisfactory to the Director of Finance; and
(ii) a certificate signed by the Board's Director of Planning and Engineering and attached
to the voucher certifying:
(a) that the obligations in the stated amounts have been incurred by the Board and
that each item thereof is a proper charge against the Construction Fund and has not been
paid,
(b) that there has not been filed with or served on the Board any notice of lien, right
of lien, or attachment upon or claim affecting the right to receive payment of any moneys
payable to any person named in such voucher which has not been released or will not be
released simultaneously with the payment of such obligations;
(c) that such voucher contains no payment on account of any retained percentage
which the Board at the date of such certificate is entitled to retain; and
(d) that insofar as any such obligation was incurred for work, materials, equipment or
supplies such work was actually performed in the furtherance of the Initial Special Facilities
or delivered at a site thereof for that purpose or delivered for storage or fabrication at a
place or places approved by the person signing the certificate and under the control of the
Board.
If the Executive Director or his designee shall determine that such voucher and certificate are
in the form and contain the information required by this paragraph, and that such payments are due,
he shall be authorized to make payment thereof in such manner as is customarily employed by the
Board for the payment of other expenses thereof.
(b) Before any moneys shall be withdrawn or any payments shall be made from the Construc-
tion Fund for Costs of the Initial Special Facilities other than those contemplated in paragraph (a),
above, including expenses of administration and other items included as a part of the term "Costs
of the Initial Special Facilities" as defined in this Ordinance, the Board shaII adopt and maintain a
12
current schedule of Construction Fund uses. Moneys within the Construction Fund may be expended
for such purposes at such times as expenditures may be required upon the execution of a certificate
by the Executive Director or his designee to the effect that such expenditures are itemized in or
contemplated by such schedule of Construction Fund uses. Otherwise, such expenditures shall not be
made unless the expenditure thereof shall be approved by resolution adopted by the Board, which
resolution shall recite that the expenditure is a proper Cost of the Initial Special Facilities.
(c) When the acquisition and construction of the Initial Special Facilities shall have been
completed in accordance with the plans and specifications thereof, and when all amounts due
therefor,including all proper incidental expenses, shall have been paid, the Board's Director of Planning
and Engineering shall file with the Executive Director and the Board a certificate so stating, and there-
upon the Board shall cause the transfer of all moneys remaining in the Construction Fund, if any, to
the Texas International Airlines Special Facilities Bond Interest and Sinking Fund.
ARTICLE VI
Facilities Agreement, Collection of Net Rent
SECTION 6.1. Facilities Agreement. The Cities covenant and warrant (i) that the Facilities
Agreement has been duly and lawfully entered into, executed and delivered by the Cities acting by
and through the Board and represents a valid and subsisting agreement of the Cities, the Board and
the Lessee, enforceable in accordance with its terms; (ii) that this Ordinance has been approved by
the Lessee in conformity with the requirements of the Facilities Agreement; (iii) that during any
period during which Bonds are outstanding under this Ordinance, neither the Cities nor the Board
will consent to or grant any modification of, or amendment or concession to, by supplemental or
amendatory agreement or otherwise, the provisions of paragraphs (a) and (c) of Section 5.2 of the
Facilities Agreement; (iv) that, during any period during which Bonds are outstanding under this
Ordinance, neither the Cities nor the Board will consent to or grant any modification of, or amend-
ment or concession to, by supplemental or amendatory agreement or otherwise, any other provision
of the Facilities Agreement, which modification, amendment or concession would have the effect of
reducing, altering or modifying the obligations and commitments of the Lessee contained in para-
graphs (a) and (c) of Section 5.2 of the Facilities Agreement, or would minimize, reduce or lessen
the rights of the Board in the event of a default in the payment of Net Rent by the Lessee thereunder,
or would materially and adversely affect the security herein provided for the payment of Bonds; and
(v) that the Cities and the Board will strictly observe and abide by their commitments contained in
the Facilities Agreement and will strictly enforce the obligations of the Lessee thereunder.
SECTION 6.2. Collection of Net Rent. The Cities, acting by and through the Board, shall through
appropriate billings, statements or otherwise, furnished and delivered to the Lessee, cause the Net
Rent payable thereunder to be collected by the Board not less than one (1) full business day prior
to the dates specified in Article VII hereof for the deposit or transfer into the various funds created
therein for the purposes described and the dates on which such collections are required, and the
amounts required by said Article VII hereof, for the purposes of this Ordinance and for the purposes
of subsection (a) of Section 5.2 and all other relevant subsections and sections of the Facilities
Agreement shall be the due date for the payment and collection of Net Rent and the times and
amounts payable thereunder.
ARTICLE VII
Pledge, Special Funds, Flow of Funds
SECTION 7.1. Pledge. The Bonds shall be and are hereby declared to be payable solely from and
secured by an irrevocable first and superior lien on and pledge of (a) the Net Rent (except that
part received on account of the costs and charges of any paying agent or paying agents or any trustee
or trustee for the Bonds) and the Special Funds herein created in which Net Rent from time to
13
time shall be on deposit as herein required; (b) any amounts on deposit in the Special Funds herein
created and credited against the Net Rent payable by Lessee, under paragraph (b) of Section 5.2
of the Facilities Agreement; and .(c) in the event of a default in the payment of Net Rent by the
Lessee under the Facilities Agreement, then the gross receipts, less expenses of collection, derived
by the Board from the exercise of any remedy on default specified or permitted by Section 7.2 of the
Facilities Agreement. All of the items of money described above are herein collectively called and
defined as the"Pledged Revenues."
SECriorr 7.2. Special Funds. In addition to the Construction Fund and the other funds heretofore
and hereafter established as a part of the Joint Airport Fund pursuant to the Contract and Agreement,
the 1968 Concurrent Bond Ordinance and other ordinances authorizing bonds relating to the Airport,
the Cities hereby establish within the Joint Airport Fund and direct that the same be maintained by
the Board the following special funds, to-wit:
(a) Texas International Airlines Special Facilities Net Rent Clearance Fund (hereinafter called
the "Net Rent Clearance Fund");
(b) Texas International Airlines Special Facilities Bond Interest and Sinking Fund (hereinafter
called the"Interest and Sinking Fund");
(c) Texas International Airlines Special Facilities Bond Reserve Fund (hereinafter called the
"Reserve Fund").
SECTION 7.3. Flow of Funds.That portion of Pledged Revenues credited against the Net Rent pay-
able by Lessee under subsection (b) of Section 5.2 of the Facilities Agreement shall at all times remain
in or be transferred to the appropriate funds created in and as directed by this Ordinance. Net Rent
shall be collected by the Board and shall be paid by the Lessee in the amounts and on the dates
required by Section 6.2 hereof and, as collected, shall be held in the Net Rent Clearance Fund within
the Joint Airport Fund, and the Board shall make necessary deposits and transfers thereof in the order
of the following subsections and on the dates and in the amounts indicated, to-wit:
(a) The Board shall make transfers to the Interest and Sinking Fund, after accounting for
any moneys already on deposit therein and available for the purposes, as aforesaid, as follows,
to-wit:
(i) Beginning on August 1, 1979, and on the 1st day of each month thereafter through
March 1, 1980,the Board shall deposit an amount necessary to provide 1/8th of the amount of
interest to become due on the Series 1979 Bonds on May 1, 1980, and beginning on April 1,
1980, and on the 1st day of each month thereafter the Board shall deposit an amount
necessary to provide 1/6th of the amount of interest to become due on the Series 1979
Bonds on November 1, 1980, and on each succeeding interest payment date thereafter.
(ii) Beginning on October 1, 1986, and on the first day of each month thereafter through
September 1, 1987, the Board shall deposit 1/12th of the funds necessary to pay the Series
1979 Bonds at maturity. Any amounts on deposit in the Reserve Fund on October 1, 1986,
may, unless otherwise prohibited or limited by a subsequent ordinance authorizing
Completion Bonds, Additional Bonds or Refunding Bonds, be applied in reduction of the
deposits required by this paragraph during the succeeding twelve month period. Addition-
ally, if the Cities shall have redeemed some, but less than all, of Series 1979 Bonds
pursuant to their option of redemption contained in Section 3.4(a) hereof, then the amounts
required to be deposited into the Interest and Sinking Fund under this paragraph (ii) shall
be reduced to the amount necessary to pay the unredeemed Series 1979 Bonds.
(iii) Beginning at the times stated and required in any subsequent ordinance authorizing
Completion Bonds, Additional Bonds or Refunding Bonds, the Board shall deposit the
amounts required to be deposited in accordance with any such ordinance.
14
(b) On the first day of each month hereafter, after making any transfers required by sub-
section (a),next above, the Board shall be authorized and required to pay from Pledged Revenues
any fee or fees of the Paying Agent or Paying Agents for the Bonds or any other fees or charges
authorized or permitted which may be or will become due during the month.
(c) During any period during which Bonds are outstanding and so long as the Reserve
Fund contains the maximum amount required to be on deposit therein, no further payments shall
be required to be made thereto. If, at the close of business on September 30th of any year, the
Reserve Fund shall be deficient and shall contain less than the maximum amount then required
to be on deposit therein, as established by this Ordinance and any ordinance authorizing other
Bonds, then any surplus amounts in the Interest and Sinking Fund shall be deposited to the
credit of the Reserve Fund to the extent necessary to restore the deficiency. After such deposit, if
a deficiency remains, then an amount equal to such remaining deficiency shall be deposited in
twelve (12) equal monthly installments during the next succeeding twelve (12) month period.
(d) In the event the Series 1979 Bonds shall be called for redemption in accordance with
the provisions of Section 3.4(b) hereof, the Board shall cause to be deposited into the Interest
and Sinking Fund such amounts necessary, after taking into consideration the amounts in all
special funds created hereunder and available therefore, to redeem the Series 1979 Bonds. Such
amounts shall be deposited at least five (5) days prior to the date set for such redemption.
SEMON 7.4. Uses of Funds. Moneys on deposit to the credit of the Interest and Sinking Fund
and the Reserve Fund shall be used for the purposes and uses specified in this Section 7.4, as follows:
(a) Interest and Sinking Fund. Moneys on deposit in the Interest and Sinking Fund each year
shall be used solely and exclusively for the purposes of paying the interest on and principal of
the Bonds as such interest and the principal become due. Additionally, such amounts as shall be
required for the purpose, shall be used for the purpose of mandatorily redeeming Series 1979
Bonds as prescribed in Section 3.4(b) hereof and in any future ordinances requiring man-
datory redemption of Bonds. The Director of Finance shall make transfers of the funds on
deposit therein to the Paying Agent for such purposes at least five (5) days prior to the due
date thereof.
(b) Reserve Fund. For so long as any of the Bonds shall be outstanding, the Reserve Fund
shall be held as a reserve for the payment of principal and interest on the Bonds when and if
Pledged Revenues on deposit in the Interest and Sinking Fund shall not be sufficient for such
purposes. If such deficiencies occur, the Director of Finance shall transfer money on deposit in
the Reserve Fund to the Interest and Sinking Fund for the uses specified for that Fund, and the
deficiency thus occurring in the Reserve Fund shall be restored at the times required by
paragraph (c) of Section 7.3 hereof.
SEMON 7.5. Security and Investment of Funds. (a) For so long as moneys relating to the Texas
International Airlines Special Facilities and the Bonds on deposit in the Joint Airport Fund shall be
held by the Treasurer, the same shall be secured in the manner provided by the agreement from time
" to time in effect between the Board and the Treasurer. In the event the Cities shall elect to place the
moneys in said Fund, or any part thereof elsewhere, the same shall be secured at all times in the
manner provided by law for other public funds, and, except for current requirements, shall be con-
tinually invested in appropriate Investment Securities. Earnings on the Construction Fund shall
be retained therein as aforesaid. Earnings on the Interest and Sinking Fund shall be retained
therein and shall be applied in the reduction of the Net Rent required to be collected under the
Facilities Agreement. Earnings on the Reserve Fund shall be deposited to the credit of said Fund
until such time as the then maximum amount required to be on deposit therein shall be established
therein, and any excess earnings shall be transferred to the Interest and Sinking Fund and shall be
applied in reduction of the Net Rent to be collected under the Facilities Agreement.
15
(b) The Cities certify that based on facts, estimates and circumstances expected to exist on
the date of the issue of the Series 1979 Bonds it is not reasonable to anticipate that the proceeds
thereof will be used in a manner which would cause them to be "arbitrage bonds" within the
meaning of Section 103(c) of the Internal Revenue Code of 1954, as amended, or regulations
thereunder applicable thereto, and the officers charged with such responsibilities in the issuance
of bonds are authorized and directed to make, execute and deliver certifications as to facts,
estimates and circumstances in existence as of the date of the issue of said bonds and stating
whether there are any facts, estimates or circumstances which would materially change the
Cities' present expectations. Additionally, the Cities covenant that throughout the term of the
Series 1979 Bonds they will diligently comply with the requirements of Section 103(c) of the
Internal Revenue Code of 1954, as amended, or regulations thereunder applicable thereto, so
that the Series 1979 Bonds will not at any time become arbitrage bonds.
(c) If it shall become necessary to remove or withhold any funds established herein from the
custody of the Treasurer in order to comply with the requirements of subsection (b), next
above, or for any other reason, then, upon written order of the Director of Finance, said funds
shall be placed in trust with a state bank(s) or national banking association(s) selected by
the Board and shall be held for the benefit of the Holders of the Bonds, and pending use of
the purposes provided herein shall be invested from time to time in investment securities as
may be directed in accordance with procedures established by the Board. To the extent that this
subsection is inconsistent with the provisions of the Contract and Agreement or the Facilities Agree-
ment, then the Contract and Agreement and Facilities Agreement are hereby amended to accommo-
date the requirements of this Section.
Section 7.6. EXEMPT FACILITIES. It is expressly covenanted and agreed that the Cities
acting by and through the Board will not expend the proceeds of the Series 1979 Bonds for any
purpose or purposes, or in any amount or amounts, or undertake, or permit the Lessee to under-
take or permit,any act or use of the Leased Premises which would cause such to be or become facilities
not within those facilities referred to in Section 103(b)(4) of the Internal Revenue Code of 1954,
as amended, and described in the regulations thereunder applicable thereto. These covenants
are made for the benefit of the Holders from time to time of said bonds and may be relied upon
by said Holders and by bond counsel for the Cities.
ARTICLE VIII
Completion Bonds, Additional Bonds and Refunding Bonds
SwnoN 8.1. Completion Bonds. (a) The Cities reserve the right to issue Completion Bonds
payable from Pledged Revenues for the purpose of completing (i) the payment of the Costs of the
Initial Special Facilities; and (ii) the payment of the Costs of the Special Facilities in connection
with any project for which Additional Bonds have been issued.
(b) Completion Bonds shall be on a parity with and shall have the same rights and privileges
hereunder as the Series 1979 Bonds, any Additional Bonds and any Refunding Bonds issued here-
under. Completion Bonds may be issued upon and subject to the following covenants and condi-
tions,to-wit:
(i) The Executive Director of the Board shall execute a certificate stating in effect that
the Lessee is not in default under the Facilities Agreement and that the Cities' right to issue
Completion Bonds with the effect as to the payment of increased Net Rent thereunder has not
been altered, rescinded, amended or changed by the Lessee, the Board or the Cities.
16
(ii) The Reserve Fund shall have on deposit therein the maximum amount required to be
on deposit by virtue of the Series 1979 Bonds and any Completion Bonds, Additional Bonds
and Refunding Bonds then outstanding.
(iii) The issuance of any Completion Bonds shall be approved by the Lessee in the man-
ner required by the Facilities Agreement, as evidenced by a written instrument executed by the
Executive Director of the Board and the Lessee under which the Net Rent under the Facilities
Agreement will be increased in an amount sufficient to pay all principal of and interest on the
Bonds to be outstanding as the same mature and become due or are required to be mandatorily
redeemed.
(iv) Completion Bonds shall be made to mature on the same day and month, and bear in-
terest payable on the same days and months,as the Series 1979 Bonds.
SECTION 8.2. Additional Bonds. In addition to said right reserved to issue Completion Bonds, as
provided in Section 8.1, the Cities reserve the right to issue Additional Bonds payable from Pledged
Revenues for the purposes specified in the Facilities Agreement. Additional Bonds shall be on a
parity and of equal dignity with and shall have the same rights and privileges hereunder as the
Series 1979 Bonds, any Completion Bonds and any Refunding Bonds. Additional Bonds may be
issued upon and subject to the following covenants and conditions, to-wit:
(a) The Cities shall not then be in default in any covenant, obligation or undertaking con-
tained in this Ordinance or in any other ordinance hereafter adopted relating to any Bonds
theretofore issued as shown by a certificate of the Executive Director of the Board. Said certificate
shall specifically certify that all payments into various Funds herein created and established have
been made in full and that said Funds are current and that there are no deficiencies in the amounts
then required to be on deposit therein.
(b) The Reserve Fund shall have on deposit therein the maximum amount required to be
on deposit by virtue of the Series 1979 Bonds and any Completion Bonds, Additional Bonds and
Refunding Bonds then outstanding.
(c) The issuance of any Additional Bonds shall be approved by the Lessee in the manner
required by the Facilities Agreement, as evidenced by a written instrument executed by the
Executive Director of the Board and the Lessee under which the Net Rent under the Facilities
Agreement will be increased in an amount sufficient to pay all principal of and interest on the
Bonds to be outstanding as the same mature and become due or are required to be mandatorily
redeemed.
(d) Additional Bonds shall mature on the same day and month and bear interest payable
on the same days and months as the Series 1979 Bonds.
SECTION 8.3. Refunding Bonds. In addition to the Bonds authorized in Sections 8.1 and 8.2, the
Cities shall have the right in accordance with any applicable law to issue Refunding Bonds in any
manner authorized by law to refund any part or all of any outstanding Bonds at any time the Cities
consider appropriate, provided that no Refunding Bonds shall be issued which will have alien on
Pledged Revenues prior and superior to any Bonds which will remain outstanding after the refunding.
SECTION 8.4. No Further Encumbrances of Pledged Revenues. Except through the issuance of
Completion Bonds, Additional Bonds or Refunding Bonds, the Cities will not in any manner pledge
or further encumber the Pledged Revenues herein committed to the payment of Bonds. However,
this covenant shall not in any manner reduce, limit or otherwise alter the rights reserved by the
Cities in Section 2.2(h)hereof.
17
ARTICLE IX
Miscellaneous Covenants
SEcrroN 9.1. Completion of the Initial Special Facilities. The Cities, to every extent they lawfully
may do so, covenant and agree to proceed without delay to commence and complete the Initial
Special Facilities and all functionally related parts of the Airport at the earliest practicable date.
Swnox 9.2. Payment of Bonds. Subject to the provisions of Section 2.2(d) and Section 7.1 T
hereof, the Cities agree promptly to pay the principal herein and in the Bonds and coupons apper-
taining thereto.
Swnox 9.3. Transfers of Airport and Facilities. So long as any Bonds are outstanding and unpaid,
the Cities shall not sell,transfer or dispose of the Texas International Airlines Special Facilities, except
for the leasing thereof for operations as a part of the Airport, and for the disposal of surplus or obsolete
property of or as a part of the Airport in the course of exercising the right specifically reserved under
Section 9.6 of the 1968 Concurrent Bond Ordinance, which includes the provisions of Section 9.6(B)
all of which are incorporated by reference herein and shall be deemed to be a part hereof, wherein
the Cities retain, reserve, and shall have the right and privilege of transferring, selling, leasing or
disposing of the entire properties and facilities constituting the Airport to another political body or
political subdivision of the State of Texas, which shall be authorized by law to own and operate
airports, subject to the conditions contained therein, all of which are incorporated by reference
herein and shall be deemed to be a part hereof.
SEmox 9.4. Rules and Regulations. The Board shall establish and enforce reasonable rules and
regulations for the use and occupancy, management, control, operation, care, repair and maintenance
of the Airport, including the Texas International Airlines Special Facilities, and the Lessee, subject to
the Facilities Agreement, shall abide by and obey all applicable rules and regulations including those
governing passage over, across and through the Airport. The Board will comply with all valid acts,
rules, regulations, orders and directives of any executive, administrative or judicial body applicable
to the Airport, unless the same shall be contested in good faith, all to the end that it will remain
operative at all times.
SEanox 9.5. Books, Audits, Inspection, (a) So long as any Bonds remain outstanding, proper
books and records and accounts will be kept by the Board showing complete and correct entries of
all transactions relating to Net Rent, the Texas International Airlines Special Facilities and the
Facilities Agreement.
(b) The Board shall, after the close of each fiscal year, cause an audit of such books and accounts
to be made by an Independent Accountant, and each such audit shall include the following:
(i) a complete schedule showing the beginning and ending balance in each of the Funds
created and established hereby;
(ii) all deposits to the credit of and all withdrawals from each Fund created and established
hereby;
(iii) a list of the insurance policies applicable to the Texas International Special Facilities in
force at the end of the Board's fiscal year.
(c) All expenses incurred in the making of the audits and reports required by this Section shall
be regarded and paid by the Lessee as an expense of operation of the Texas International Airlines
Special Facilities. The Board shall furnish promptly (and in any event within sixty (60) days from the
time the audit and report is filed with the Cities) a copy of each of such audits and reports upon
request to any Holder of the Bonds.
SEcnox 9.6. Maintenance of Facilities; Inspection. The Board covenants that it will cause the
Lessee to maintain the Texas International Airlines Special Facilities at all times in good order and
18
condition, except for normal wear and tear and to make all necessary and appropriate repairs thereto,
subject to the provisions of the Facilities Agreement.
SECrION 9.7. Insurance. The Board covenants that it will insure or cause to be insured the
Texas International Airlines Special Facilities at all times until all Bonds secured hereby, and the
interest thereon, shall have been paid or provision for such payment shall have been made, all in
accordance with the provisions of the Facilities Agreement. The proceeds of all such insurance shall
be applied as provided in the Facilities Agreement.
SECTION 9.8. Rates in Certain Instances. In the event of a default in the payment of Net Rent by
_ the Lessee under the Facilities Agreement and the Board operates the Texas International Airlines
Special Facilities and the gross receipts, less expenses of collection, therefrom are required to be
devoted to the payment of the Bonds, as contemplated by clause (c) of Section 7.1 hereof, the
Board hereby covenants and agrees to impose and collect with respect to the Texas International
Airlines Special Facilities such rates, rentals, fees and charges as shall be sufficient to pay and retire
the Bonds and all interest thereon when and as due and payable and to maintain the amounts
required to be on deposit in the special Funds herein created and at the times herein required.
ARTICLE X
Events and Remedies of Default
SECTION 10.1. Events of Default. Each of the following occurrences or events for the purposes of
this Ordinance shall be and is hereby declared to be an "Event of Default," to-wit:
(a) The failure to make payment of the principal of any of the Bonds when the same shall
become due and payable;
(b) The failure to pay any installment of interest when the same shall become due and
payable and such failure shall continue for a period of thirty (30) days after the due date thereof;
(c) Default in any covenant, undertaking or commitment contained in the Contract and
Agreement, the failure to perform which materially affects the rights of the Holders of the Bonds,
including, but not limited to, their prospect or ability to be repaid in accordance with the terms
and provisions of this Ordinance, and the continuation thereof for a period of sixty (60) days
after notice of such default by any Holder of any Bonds;
(d) The Cities or the Board shall fail, refuse or neglect to enforce the payment by the
Lessee of Net Rent under the Facilities Agreement, or otherwise fail, refuse or neglect to
enforce any other provisions of the Facilities Agreement in a manner which materially affects the
rights of the Holders of the Bonds, including, but not limited to, their prospect or ability to be
repaid in accordance with the terms and provisions of this Ordinance, and the continuation thereof
for a period of sixty (60) days after notice of such default by any Holder of any Bonds;
(e) An order or decree shall be entered by a court of competent jurisdiction with the
consent or acquiescence of the Cities appointing a receiver or receivers for the Airport or the
Texas International Special Facilities or for or of the rentals, rates, revenues, fees or charges
derived therefrom; or if any order or decree having been entered without the consent or acquies-
cence of the Cities shall not be vacated, discharged or stayed on appeal within ninety (90) days
after entry;
(f) The Cities shall default in the due and punctual performance of any other of the
covenants, conditions, agreements and provisions contained in the Bonds or in this Ordinance
on their part to be performed, and if such default shall continue for thirty (30) days after
written notice specifying such default and requiring the same to be remedied shall have been
given to the Cities, or to the Board by the Holders of not less than two percentum (2%) in
aggregate principal amount of the Bonds then outstanding.
19
ftanoN 10.2. Remedies for Default. Upon the happening and continuance of any of the Events
of Default as provided in Section 10.1 hereof, then and in every case any Holder of Bonds, including,
but not limited to, a trustee or trustees therefor, may proceed against the Cities and the Board, for the
purpose of protecting and enforcing the rights of the Holders of Bonds or coupons under this
Ordinance, by mandamus or other suit, action or special proceeding in equity or at law, in any
court of competent jurisdiction, for any relief permitted by law, including the specific performance
of any covenant or agreement contained herein, or thereby to enjoin any act or thing which may be
unlawful or in violation of any right of the Holders hereunder or any combination of such
remedies. It is provided, however, that all such proceedings at law or in equity shall be instituted,
strictly subject to the provisions of Article II hereof and to Section 7.1 hereof, and shall be had and
maintained for the equal benefit of all Holders of the Bonds and the coupons then outstanding. Each
right or privilege of any Holders (or trustee thereof) shall be in addition to and cumulative of
any other right or privilege and the exercise of any right or privilege by or on behalf of any Holders
shall not be deemed a waiver of any other right or privilege thereof.
ARTICLE XI
Amendments to Ordinance
SEmoN 11.1. Limitations. (a) This Ordinance may be amended by concurrent ordinances
adopted by the City Councils with the written consent of the Lessee and the Holders of 66%% of
the Bonds outstanding hereunder at the time of the adoption of such amendatory ordinance (not
including any Bonds then held or owned by the Cities); provided, however, that no such ordinance
shall have the effect of permitting:
(i) any extension of the maturity of any Bonds;
(ii) a reduction in the principal amount of any Bonds, the rate of interest thereon, or any
redemption premium payable thereon;
(iii) the creation of a lien upon or a pledge of revenues ranking prior to the lien or pledge
created hereby;
(iv) a reduction of the principal amount of Bonds required for consent to such amendatory
ordinance;
(v) the establishment of priorities among Bonds; or
(vi) the modification of or otherwise affecting the rights of the Holders of less than all of the
Bonds then outstanding.
(b) Notice of Amendment. Whenever the Cities shall propose to amend this Ordinance, the
Cities shall cause notice of the proposed amendment to be published one time in a financial news-
paper or financial journal published in the City of New York, New York. Such notice shall briefly
state the nature of the proposed amendment and that a copy thereof is on file in the office of the
Board for public inspection.
(c) Time for Amendment. The Cities may adopt such amendatory ordinance and the same shall
become effective if within one (1) year from the date of the publication of said notice there is filed
with the Board written consent to the adoption thereof executed by the Holders of at least 66%%
of the Bonds then outstanding.
(d) Binding Consent. If the Holders of at least 66%% of the Bond outstanding have consented
to the adoption of such amendatory ordinance, no Holder of any Bond, whether or not such Holder
shall have consented to or shall have revoked any consent, shall have any right or interest to object to
the adoption of such amendatory ordinance, or to enjoin or restrain the Cities from taking any action
pursuant to the provisions thereof.
20
(e) Time Consent Binding. Any consent given to the Holder of a Bond pursuant to the provisions
of this Section shall be irrevocable for a period of six (6) months from the date of the publication
of the notice and shall be conclusive and binding upon all future Holders of the same Bond during
such period. At any time after six (6) months from the date of the publication of notice, such consent
may be revoked by the Holder who gave such consent or by a successor in title by filing notice of
such revocation with the Board, but such revocation shall not be effective if the Holders of 66%%
of the Bonds outstanding, prior to the attempted revocation, consented to and approved the amenda-
tory ordinance referrred to in such revocation.
(f) Proof of Instruments. The fact and date of the execution of any instrument under the pro-
visions of this Section may be proved by the certificate of any officer in any jurisdiction, who by the
laws thereof is authorized to take acknowledgments of deeds within such jurisdiction, that the
person signing such instrument acknowledged before him the execution thereof; or such facts may be
provided by an affidavit of a witness to such execution sworn to before such officer.
(g) Proof of Ownership. The amount and numbers of the Bonds held by any person executing
such instrument and the date of his holding the same may be proved by a certificate executed by a
responsible bank or trust company showing that upon the date therein mentioned such person had on
deposit with such bank or trust company the Bonds described in such certificate.
SECTION 11.2. Corrections. Subject to the provisions of Section 11.1(a) the Cities may, pursuant
to a concurrent ordinance adopted by their respective City Councils,by supplemental ordinance correct
any ambiguity or typographical error or omission, or correct or supplement any inconsistent
or defective provisions contained in this Ordinance or in any ordinance supplemental hereto upon
a determination that such ambiguity, error, inconsistency or defect exists; provided, however,
that in no event shall any such supplemental ordinance diminish, dilute, reduce, or repeal any
covenants, conditions, pledges or liens created or imposed by this Ordinance; or the seoUrity for
the Bonds authorized hereby.
ARTICLE XII
Defeasance, Irrepealable, Severability, Repealer
SECTION 12.1. Defeasance. When all of the outstanding Bonds have been duly paid, the pledge
and lien and all obligations hereunder shall thereby be discharged and the Bonds shall no longer'
be deemed to be outstanding within the meaning of this Ordinance. There shall be deemed to be
such due payment when there has been placed in escrow or in trust with a trust bank located within
or without the State, an amount sufficient (including the known minimum yield available for such
purpose from Federal Securities in which such amount wholly or in part may be initially invested)
to meet all requirements of the outstanding Bonds, as the same become due at the final maturities
of the Bonds or upon any redemption date as of which the Cities shall have exercised or shall have
obligated itself to exercise its prior redemption option by a call of Bonds for payment. The Federal
Securities shall become due prior to the respective times on which the proceeds thereof shall be
needed, in accordance with a schedule established and agreed upon between the Cities and such
bank at the time of the creation of the escrow or trust, or the Federal Securities shall be subject to
redemption at the option of the Holders hereof to assure such availability as so needed to meet
such schedule. "Federal Securities" for purposes of this section shall mean direct obligations of or
obligations guaranteed by the United States of America.
SEc-noN 12.2. Ordinance Irrepealable. After any of the Bonds shall be issued, this Ordinance
shall constitute a contract between the Cities and the Holder or Holders of the Bonds from time
to time outstanding, and this Ordinance shall be and remain irrepealable until the Bonds and the
interest hereon shall be fully paid, cancelled, refunded or discharged or provisions for the payment
thereof shall be made by depositing money in trust with the Paying Agent or another National
Banking Association equal in amount to the aggregate principal amount of Bonds outstanding plus
interest to their earliest redemption date, or, if none, to their maturity.
21
SEcnoN 12.3. Severability. If any Section, paragraph, clause or provision of this Ordinance
shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of
such Section, paragraph, clause or provision shall not affect any of the remaining provisions of this
Ordinance, or any of the provisions of the Facilities Agreement.
SEanoN 12.4. Repealer. All orders, resolutions and ordinances, or parts thereof, inconsistent
herewith are hereby repealed to the extent of such inconsistency.
ADoPTm AND CORREcmy ENROLLED, Qa--L " 1.3 , 1979.
A,
Mayor, City of Dallas, Texas
[SEAL]
ATTEST:
/s/
City Seoretaty, City of Dallas,Texas
APPROVED AS To FORM:
/s/
City Attorney, City of Dallas,Texas
1979
1ZIZI el
= •.� Mayor, City of Fort Worth,Texas
A�irwrfij
CrtVf Se
#etary, City of Fort Worth,Texas
AP P O AST ORM AND '
t
ity Attome ,Cityjbf Fort Worth,Texas
22
THE STATE OF TEXAS
COUNTY OF DALLAS
CITY OF DALLAS
1, Robert S. Sloan, City Secretary of the City of Dallas, Texas, do hereby certify:
1. That the above and foregoing is a true and correct copy of Ordinance No. 16 a S10 ,
duly presented and passed by the City Council of the City of Dallas, Texas, at a meeting of the
council held on June 13, 1979, which ordinance is duly of record in the office of the City Secretary.
2. That said meeting was open to the public, and public notice of the time, place and purpose
of said meeting was given, all as required by Article 6252-17, Vernon's Texas Civil Statutes, as
amended.
WiTNEss MY HAND and seal of the City of Dallas,Texas, /?{iday of June, 1979.
City Secretary, City of Dallas,Texas
[SEAL]
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF FORT WORTH
I, Jack W. Green, City Secretary of the City of Fort Worth, Texas, do hereby certify:
1. That the above and foreging is a true and correct copy of Ordinance No. 191/ 7 duly
presented and passed by the City Council of the City of Fort Worth, Texas, at a meeting of the
Council held on June 12, 1979, which ordinance is duly of record in the office of the City Secretary.
2. That said meeting was open to the public, and public notice of the time, place and purpose
of said meeting was given, all as required by Article 6252-17, Vernon's Texas Civil Statutes, as
amended.
WiTNEss MY HAND and the Official Seal of the City of Fort Worth,Texas,thisaAday of June, 1979.
C' y ecretary,City of Fort Worth,Texas
[SEAL]
23
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