HomeMy WebLinkAboutOrdinance 67909P Pro
1973 Regional Airport
American Airlines
Special Facilities
Bond Ordinance
Authorizing the Issuance of
DALLAS -FORT WORTH REGIONAL AIRPORT
AMERICAN SPECIAL FACILITIES
REVENUE BONDS, SERIES 1973
$6,300,000
Adopted by
The City Councils of
THE CITY OF DALLAS, TEXAS
and
THE CITY OF FORT WORTH, TEXAS
Effective as of February 1, 1973
CITY OF DALLAS ORDINANCE
No...........
CITY OF FORNW ORTIJ DINANCE
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 American Special Facilities Revenue Bonds, Series 1973, in the aggre-
gate principal amount of $6,300,000, for the purpose of acquiring, constructing, fabri-
cating 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 American Airlines Special Facilities Lease
Agreement and a certain supplemental agreement thereto, each pertaining, among other
things, 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 said bonds and
the manner of their execution; containing covenants and commitments regarding the
payment of said bonds on a parity as to lien with other outstanding bonds; the acquisi-
tion and construction of said facilities, and regarding transfers of airport properties;
providing other details concerning said bonds, said agreements and said Airport; provid-
ing for the deposit of certain of the proceeds of such bonds into the American Special
Facilities Acquisition and Construction Fund of the Joint Airport Fund under and sub-
ject 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; ordaining other matters incident and relating to the
subject and purpose hereof; and declaring an emergency.
WHEREAS, the, Cities of Dallas and F
the present commercial aviation and airpc
Field Airport of the City of Dallas, and Gi
City of Fort Worth, are wholly inadequate 1
needs of the citizens of the Cities and the
Central Texas Region; and
rt Worth have heretofore determined that
•t facilities of the Cities, specifically Love
gat Southwest International Airport of the
meet the foreseeable commercial aviation
residents and citizens of the entire North
WHEREAS, the Cities have further found and determined that the most effective,
economic and efficient means of providing needed airport facilities is the construction
and equipment of a centrally located airport for the Cities, and to that end by an
agreement entitled 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
presently as the "Dallas -Fort Worth Regional Airport" (hereinafter called the "Air-
port"); 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, when it becomes operational, will become the major hub,
primarily passenger and commercial cargo, airport for the metropolitan area of Dallas
and Fort Worth and the entire North Central Texas Region and in that regard will
contain many separately indentifiable 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 relative 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 ade-
quate, well - planned, and major facilities (hereinafter called the "American Special Facili-
ties") be established, constructed, fabricated and equipped at the Airport for the public
using the Airport, all as a part of the Airport's essential 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 therein defined); and
WHEREAS, heretofore, it was determined necessary and appropriate by the Board
that certain initial American Special Facilities be financed as Special Facilities, within
the meaning of the 1968 Concurrent Bond Ordinance, through the issuance of "Dallas -
Fort Worth Regional Airport American Special Facilities Revenue Bonds, Series 1972"
(hereinafter called the "Series 1972 Bonds "), and the Cities issued such bonds as such and
for such purposes in accordance with the terms and provisions of a certain 1972 Regional
Airport American Airlines Special Facilities Bond Ordinance, bearing No. 13810 of the
City of Dallas and No. 6727 of the City of Fort Worth (hereinafter called the "1972
American Bond Ordinance ") and in connection therewith the Board executed to and with
American Airlines, Inc., as Lessee, a certain American Airlines Special Facilities Lease
Agreement (hereinafter called the "Facilities Agreement "); and
WHEREAS, the Board has determined it necessary and appropriate that certain
additional American Special Facilities (consisting of "Combined Freight and Maintenance
Facilities ") be provided at the Airport and that the same be included as a part of the
American Special Facilities and that they be financed as "Additional Bonds" (hereinafter
called and defined as the "Series 1973 Bonds ") as that term is defined in and as such
bonds are permitted under the 1972 American Bond Ordinance; and
WHEREAS, the Board has requested the Cities to issue the Series 1973 Bonds as
such and for such purposes, and in connection therewith the Board has also executed a
certain American Airlines Supplemental Special Facilities Agreement (hereinafter called
the "Supplemental Facilities Agreement ") which in general provides (a) for the leasing of
certain additional lands and the payment of Ground Rent therefor, and (b) for the in-
crease of the Net Rent under the Facilities Agreement in amounts required by the 1972
American Bond Ordinance in connection with the issuance of Additional Bonds there-
under, all of the terms and provisions of the Facilities Agreement and the Supplemental
Facilities Agreement 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 Ameri-
can Special Facilities, expressly including the Combined Freight and Maintenance Facili-
ties, 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
American Airlines, Inc., as set forth in the Facilities 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
2
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 1.1. SHORT TITLE. This Ordinance may be cited by the short title "1973
American Airlines Special Facilities Bond Ordinance."
Section 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 Agree-
ment and the Supplemental 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.
Section 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
Supplemental Facilities Agreement by the Board are hereby ratified, approved, con-
firmed, accepted and adopted.
ARTICLE II
DEFINITIONS AND CONSTRUCTION
Section 2.1. DEFINITIONS. In and throughout this Ordinance, the following words
and expressions shall have the following meanings, respectively —
(a) All words and terms used herein which constitute defined terms and words in the
1972 American Bond Ordinance shall have the same meanings and definitions as are
contained therefor in the 1972 American Bond Ordinance, except where the same words
and terms are expressly defined otherwise herein, and such defined words and terms are
incorporated herein for all purposes.
(b) In addition to the defined terms referred to in paragraph (a), next above, the
following words and terms for the purposes hereof and for the purposes of the 1972
American Bond Ordinance shall have the following meanings, respectively, unless the
context shall clearly appear otherwise, to -wit:
(i) "Bonds" means the Series 1972 Bonds, the Series 1973 Bonds, any Completion
Bonds and any future issues of Additional Bonds.
(ii) "Combination Freight and Maintenance Facilities" means the additional
project of American Special Facilities being provided pursuant to the Supplemental
Facilities Agreement and financed from the proceeds of the Series 1973 Bonds.
(iii) "1972 American Bond Ordinance" means the ordinance authorizing, among
other things, the Series 1972 Bonds and referred to in the preambles hereof.
(iv) "Paying Agent" or "Paying Agents" with respect to the Series 1973 Bonds
means The First National Bank of Fort Worth, Fort Worth, Texas, and Texas Bank
and Trust Company of Dallas, Dallas, Texas, and The First National Bank of Chi-
cago, Chicago, Illinois.
(v) "Series 1973 Bonds" means the series of Bonds authorized in Article III
hereof, and are the Bonds defined in the Supplemental Facilities Agreement as the
1973 Additional Bonds.
(vi) "Supplemental Facilities Agreement" means the agreement referred to as
such in the preambles hereof, dated as of February 1, 1973, and executed and deliv-
ered by and between the Board and American Airlines, Inc., as a supplement to and
amendatory of the Facilities Agreement.
(vii) "Costs of the "Combination Freight and Maintenance Facilities" means all of
the items of cost and expense included within the definition of that term in Section
1.1(b)(iv) of the Supplemental Facilities Agreement.
Section 2.2. CONSTRUCTION AND EFFECT OF COVENANTS. This Ordinance, ex-
cept where the context 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 com-
puted 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 affirma-
tive, common or joint act with respect to the Airport, the American Special Facili-
ties 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 Ordi-
nance 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 reve-
nues being owned in undivided interests by Dallas (to the extent of 7 /11ths 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 /11ths of the total amount asserted or demanded, and in
the case of Fort Worth an amount equal to 4 /11ths of the total amount asserted or
demanded.
(g) In the event of a transfer of the Airport to another political body or political
subdivision, as permitted by Section 9.3 of the 1972 American Bond Ordinance, the
governing board of such political body, when operating the Airport under and sub-
4
ject 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 agree-
ments with any parties, including the Lessee, and expressly including the right to
acquire, construct, fabricate, and install (original or replacement) other American
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 Lands, as defined in the Facilities
Agreement, or any part thereof, through the execution of other agreements with
other parties, or the Lessee.
(i) This ordinance is intended to and shall be supplemental to the 1972 American
Bond Ordinance and all matters included herein are subject to the terms of and shall
be controlled and governed by the 1972 American Bond Ordinance where not ex-
pressly provided for herein, and, without limiting the generality of the foregoing, in
applying the terms and provisions of the 1972 American Bond Ordinance to the
matters included herein, it is expressly provided (A) that the Series 1973 Bonds are
Additional Bonds thereunder; and (B) that the Combination Freight and Main-
tenance Facilities shall be and constitute a part of the American Special Facilities
under the 1972 Bond Ordinance and the "Special Facilities" under the Facilities
Agreement.
Section 2.3. CORRECTION OF 1972 AMERICAN BOND ORDINANCE. Heretofore,
at the time of the issuance of the Series 1972 Bonds, the Cities and the Lessee deter-
mined that subsection (b) of Section 8.2 of the 1972 American Bond Ordinance was incon-
sistent and defective in that it failed through typographical error to specify the amount
to be deposited to the American Special Facilities Bond Reserve Fund in the event of the
issuance of Additional Bonds under said Section. Accordingly, said provision is hereby
corrected, and the City Secretary of each of the Cities is hereby authorized and directed
to correct the official copies of the subsection (b) of Section 8.2 of the 1972 American
Bond Ordinance, so as to be and read as follows, to -wit:
"(b) The Cities shall increase the amounts then required to be on deposit in the
American Special Facilities Bond Reserve Fund to an amount at least equal to the
average annual principal and interest requirements on the Bonds to be outstanding
after such issuance by providing in the ordinance authorizing the issuance of such
Additional Bonds that such amount shall either be included within the principal
amount of the Additional Bonds being issued or shall be accumulated in approxi-
mately equal monthly installments over a period not exceeding sixty (60) months
from the date of the Additional Bonds."
Such correction may be accomplished by insertion, by preprinted or gummed label or in
such other manner as the City Secretaries shall consider appropriate.
ARTICLE III
SERIES 1973 BONDS
Section 3.1. AUTHORIZATION. (a) For the purpose of providing funds with which to
pay the Costs of the Combination Freight and Maintenance Facilities, as contemplated
5
by the Supplemental 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 American Special Facilities Revenue Bonds, Series 1973"
(hereinabove defined as the "Series 1973 Bonds "), in the aggregate principal amount of
$6,300,000, payable both as to principal and interest solely out of Pledged Revenues, as
described, defined and pledged herein, and in the 1972 American Bond Ordinance.
(b) The Series 1973 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 1269] -5.1, Article 1269j -5.2, Article 46d, and other applicable provisions of Ver-
non's Texas Civil Statutes, as amended, and, as aforesaid, are Additional Bonds issued
under the authority reserved to the Cities in the 1972 American Bond Ordinance.
Section 3.2. DATE, DENOMINATION, MATURITIES AND INTEREST RATES. The
Series 1973 Bonds shall be dated February 1, 1973, shall be in the denomination of $5,000
each, shall consist of 1260 Bonds numbered in direct numerical order from 1 through 1260
and shall mature and become due and payable serially on November 1 in each of the
years and in the amounts and bearing interest per annum from their date to their stated
maturity or earlier redemption as follows, to -wit:
YEARS
AMOUNTS MATURING
RATE OF INTEREST
1974
$ 75,000
4.50%
1975
80,000
4.75%
1976
85,000
4.90%
1977
90,000
5.00%
1978
95,000
5.10%
1979
100,000
5.20%
1980
105,000
5.30%
1981
115,000
5.40%
1982
120,000
5.50%
1983
130,000
5.50%
1984
140,000
5.60%
1985
145,000
5.70%
1986
155,000
5.75%
1987
165,000
5.80%
1992
1,000,000
5.90%
2002
3,700,000
6.00%
Interest at such rates shall be evidenced by coupons initially attached to each of said
Bonds payable on November 1, 1973, and semi - annually thereafter on each May 1 and
November 1.
Section 3.3. PAYING AGENTS. Both the principal of and the interest on the Series
1973 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 Agents.
Section 3.4. PRIOR REDEMPTION. (a) Series 1973 Bonds numbered 1 to 320, both
inclusive, are not subject to redemption prior to their respective stated maturities.
(b) Series 1973 Bonds numbered 321 to 1260, both inclusive, may be redeemed, at the
option of the Cities, prior to their respective stated maturities in whole on the first day
of any month on or after November 1, 1987, or in part by lot on November 1, 1987, and on
any interest payment date thereafter, from any moneys (other than the moneys on
deposit in the American Special Facilities Bond Interest and Sinking Fund as provided in
subsection (c), below) for a redemption price equal to the principal amount of said num-
bered bonds thus optionally redeemed plus accrued interest to the date fixed for redemption
and without premium.
(c) Apart from the Cities' right and option of redeeming Series 1973 Bonds numbered
321 to 1260, both inclusive, as provided in subsection (b), above, said numbered Series
1973 Bonds are further subject to the following mandatory redemption provisions, to -wit:
(i) Of said numbered Series 1973 Bonds, those bonds bearing numbers 321 to 520,
both inclusive, are subject to the mandatory requirement that, on or about Septem-
ber 15 (but not later than September 20) in each of the years hereinbelow specified,
the Board, acting on behalf of the Cities, shall select (by lot) the number of bonds
(out of the Series 1973 Bonds bearing said numbers) as are hereinbelow designated
for each such year and shall redeem the numbered Series 1973 Bonds thus selected
on the following November 1 in each such year, respectively, from the moneys to be
set aside for that purpose in accordance with subsection (c) of Section 7.2 of this
Ordinance. The years and the corresponding number of Series 1973 Bonds to be thus
selected and mandatorily redeemed in each such year, respectively, are as follows,
to -wit:
REDEMPTION NUMBER OF BONDS TO BE
YEARS SELECTED AND REDEEMED
1988 35
1989 38
1990 40
1991 42
The bonds bearing said numbers remaining unselected for redemption on November
1, 1992, shall be paid on the date of their stated maturity from the moneys to be
deposited into the American Special Facilities Interest and Sinking Fund during the
period 1991 -1992, pursuant to subsection (c) of Section 7.2 of this Ordinance.
(ii) Of said numbered Series 1973 Bonds, those bonds bearing numbers 521 to
1260, both inclusive, are subject to the mandatory requirement that, on or about
September 15 (but not later than September 20) in each of the years hereinbelow
specified, the Board, acting on behalf of the Cities, shall select (by lot) the bonds (out
of the Series 1973 Bonds bearing said numbers) as are hereinbelow designated for
each such year and shall redeem the numbered Series 1973 Bonds thus selected on
the following November 1 in each such year, respectively, from the moneys to be set
aside for that purpose in accordance with subsection (d) of Section 7.2 of this Ordi-
nance. The years and the corresponding number of Series 1973 Bonds to be thus
selected and mandatorily redeemed in each such year, respectively, are as follows,
to -wit:
REDEMPTION
NUMBER OF BONDS TO BE
YEARS
SELECTED AND REDEEMED
1993
48
1994
51
1995
55
1996
58
1997
62
1998
65
1999
69
2000
74
2001
78
The bonds bearing said numbers remaining unselected for redemption on November
1, 2001, shall be paid on the date of their stated maturity from the moneys to be
deposited into the American Special Facilities Interest and Sinking Fund during the
period 2001 -2002, pursuant to subsection (d) of Section 7.2 of this Ordinance.
(iii) Such of said numbered bonds as are redeemed pursuant to this subsection
shall be redeemed at a price equal to the principal amount thereof plus accrued
7
interest to the date of redemption and without premium. If in any year in which the
Cities, acting through the Board, are required to redeem Series 1973 Bonds pur-
suant to the mandatory provisions of this subse ,tion, they shall, either before or after
(but prior to October 1) the selection of the bonds to be redeemed mandatorily that year,
be given the opportunity of purchasing any of said numbered bonds for a price less than
as above specified, the Board shall be authorized to make such purchases (but not more
than the number to be required to be redeemed that year) from the moneys set aside that
year for the redemption of said Bonds, as aforesaid, and the number of bonds thus
purchased shall be deducted from the number to be required to be redeemed that year.
(iv) In the event of an optional redemption from other moneys, as authorized by
subsection (b), above, of less than all of the Series 1973 Bonds which are subject to the
mandatory provisions of this subsection, the number of bonds thus optionally redeemed
shall proportionately reduce (in whole denominations) as to the respective maturity of
bonds out of which an optional redemption has occurred the number of bonds required to
be selected and mandatorily redeemed each year and to be paid at the respective stated
maturity.
(d) At least thirty (30) days prior to the date of any such redemption, whether such
date shall be fixed by the mandatory provisions specified above, or by reason of the
exercise of the optional rights of redemption there provided, the Board, acting on behalf
of the Cities, shall cause a written notice of such redemption (specifying the Series 1973
Bonds to be either mandatorily or optionally redeemed, or both) 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 Agents for the payment of the principal amount of the Series 1973 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 pro-
vided above, the Series 1973 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.
Section 3.5. FORM. The form of the Series 1973 Bonds, including the form of Regis-
tration Certificate 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 1973 BONDS)
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTIES OF DALLAS AND TARRANT
DALLAS -FORT WORTH REGIONAL AIRPORT
AMERICAN SPECIAL FACILITIES REVENUE BOND
Series 1973
NO...........
$5,000
On the 1st day of November, ...., the Cities of Dallas and Fort Worth (herein collec-
tively 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 ....% per annum, evidenced by initially attached couponF.
payable November 1, 1973, and semi - annually thereafter on each May 1 and Novem-
HZ
ber 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 sev-
erally become due, at The First National Bank of Fort Worth, Fort Worth, Texas, or
at Texas Bank and Trust Company of Dallas, Dallas, Texas, or at The First National
Bank of Chicago, Chicago, Illinois, paying agents, without exchange or collection
charges to the bearer hereof.
The bonds of this Series numbered 1 to 320, both inclusive, are not subject to
redemption prior to their respective stated maturities. The bonds of this Series num-
bered 321 to 1260, both inclusive, may be redeemed, at the option of the Cities, prior
to their respective stated maturities in whole on the first day of any month on or
after November 1, 1987, or in part by lot, on November 1, 1987, and on any interest
payment date thereafter, 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 said numbered bonds thus optionally redeemed plus accrued interest to
the date fixed for redemption and without premium. In addition, the bonds of this
Series numbered 321 to 1260, both inclusive, are subject to certain further manda-
tory redemption requirements provided and established in the ordinance authorizing
this Series of bonds. Under such provisions, a specified number of said bonds shall be
selected by lot and mandatorily redeemed prior to their respective stated maturities
in the years 1988 through 1991 and 1993 through 2001 for a redemption price equal
to the principal amount thereof and accrued interest to the date of redemption and
without premium. The bonds bearing such numbers which are not thus selected and
mandatorily redeemed during said years shall be paid at their respective stated
maturities. Said mandatory redemptions and payments at maturity shall be accom-
plished from moneys required by said ordinance to be deposited into the interest and
sinking fund for this Series of bonds.
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 of the Cities authorizing this series
of bonds. By the date fixed for any such redemption, due provision shall be made
with the paying agents 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 February 1, 1973,
numbered from 1 through 1260, of the denomination of $5,000 each, aggregating
$6,300,000, issued by the Cities so as to provide funds for the purpose of acquiring,
constructing, fabricating and installing certain Special Facilities for the jointly
owned Dallas -Fort Worth Regional Airport of the Cities. For the purpose of provid-
ing for the issuance of this Series of bonds and securing the payment thereof, the
Cities have jointly adopted a certain ordinance known by short title as the "1973
American Airlines Special Facilities Bond Ordinance," and therein have jointly
pledged their respective interests in certain moneys therein referred to and defined
as "Pledged Revenues," said pledge being on a parity as to lien and right with
certain previously issued and outstanding bonds of the Cities payable from the same
source, all as defined and referred to in said ordinance. The term "Pledged Reve-
nues" 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 American
Airlines Special Facilities Lease Agreement (the "Facilities Agreement "), dated as
of October 1, 1972, as supplemented by a certain American Airlines Supplemental
Special Facilities Agreement (the "Supplemental' Facilities Agreement "),
9
dated as of February 1, 1973, both being executed between the Board and American
Airlines, Inc., a certificated air carrier serving and served by said Airport. Said Pledged
Revenues, including said net rent, will be on deposit from time to time in various funds
referred to and confirmed in the 1973 American Airlines Special Facilities Bond Ordi-
nance, and are unconditionally and irrevocably committed and pledged to the purposes
specified for said funds including the payment of this and one other outstanding series of
bonds, and other bonds, if any, which may be issued hereafter. Reference is made to the
1973 American Airlines Special Facilities Bond Ordinance and to the Facilities Agree-
ment and the Supplemental 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. As provided in the 1973 American Airlines Special Facilities Bond
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 exceed in the case of Dallas 7 /1 iths of the total amounts thereof, and in the
case of Fort Worth 4 /1 iths 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 1973
American Airlines Special Facilities Bond Ordinance and the execution and delivery of
the Facilities Agreement and the Supplemental 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 signa-
tures of its City Auditor and its City Secretary; and the City of Fort Worth, Texas, has
caused the seal of that City to be placed 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 by 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.
COUNTERSIGNED:
/s/
.............................................. ...............................
City Auditor, City of Dallas, Texas
/s/
.............................................. ...............................
City Secretary, City of Dallas, Texas
COUNTERSIGNED:
/s/
.............................................. ...............................
City Secretary, City of Fort Worth, Texas
APPROVED AS TO FORM:
/s/
.............................................. ...............................
City Attorney, City of Fort Worth
10
.......... / S / ................................ ...............................
Mayor, City of Dallas, Texas
/s/
.............................................. ...............................
Mayor, City of Fort Worth, Texas
(FORM OF COUPONS)
NO........... $ ...............
Unless due provisions has been made for the redemption prior to maturity of the beloNN,
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 The First National Bank of
Fort Worth, Fort Worth, Texas, or at Texas Bank and Trust Company of Dallas, Dallas,
Texas, or at The First National Bank of Chicago, Chicago, Illinois, 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 American Special Facilities Reve-
nue Bonds, Series 1973, dated February 1, 1973. 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
COUNTERSIGNED:
/s/
.............................................. ...............................
City Auditor, City of Dallas, Texas
/s/
.............................................. ...............................
Mayor, City of Fort Worth, Texas
COUNTERSIGNED:
/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 ap-
proved 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.
(SEAL)
WITNESS my signature and seal this ............. ...............................
11
/s/
.............................................. ...............................
Comptroller of Public Accounts of the
State of Texas
ARTICLE I`'
EXECUTION, APPROVAL, REGISTRATION, SALE AND DELIVERY OF
SERIES 1973 BONDS
Section 4.1. METHOD OF EXECUTION. Each of the Series 1973 Bonds shall be
signed and executed on behalf of Dallas by the fascimile 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 impressed, printed or lithographed on each bond.
Each of the Series 1973 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 by 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 1973 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,
Vernon's Texas Civil Statutes, as amended.
Section 4.2. APPROVAL AND REGISTRATION. The Board is hereby authorized to
have control and custody of the Series 1973 Bonds and all necessary records and proceed-
ings 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 certifi-
cations and to execute such instruments as may be necessary to accomplish the delivery
of the Series 1973 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 1973 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 Bond and the seal of the Comptroller shall be im-
pressed or printed or lithographed thereon. The Chairman of the Board shall be further
authorized to make such agreements with the purchasers of the Bonds as may be neces-
sary 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.
Section 4.3. SALE. The Series 1973 Bonds are hereby sold in accordance with law and
shall be delivered to Mercantile National Bank at Dallas, Dallas, Texas; First National
Bank of Commerce, New Orleans, Louisiana; Union Planters National Bank of Memphis,
Memphis, Tennessee; Bossier Bank and Trust Company, Bossier City, Louisiana, Farm
Bureau Mutual Insurance Company of Arkansas, Little Rock, Arkansas, the Purchasers
thereof for a price of $6,300,000, plus accrued interest to the date of delivery.
ARTICLE V
DISPOSITION OF BOND PROCEEDS, USES AND WITHDRAWALS
Section 5.1. INTEREST DURING ACQUISITION AND CONSTRUCTION. (a) The
amount equal to the interest to become due on the Series 1973 Bonds to May 1, 1974, is
hereby appropriated from the proceeds of the sale of the Series 1973 Bonds and ordered
to be deposited to the credit of the American Special Facilities Bond Interest and : in.'• hig
Fund. If it shall become necessary to remove or withhold the amount required to be
appropriated by this subsection (a) from the custody of the Treasurer in order to comply
with the requirements of Section 7.3(b) hereof, or for any other reason, then, upon writ-
ten order of the Director of Finance, that part of the Interest and Sinking Fund contain-
ing said amount shall be placed in trust with The First National Bank of Fort Worth,
Fort Worth, Texas, one of the Paying Agents for the Series 1973 Bonds. Such portion of
the Interest and Sinking Fund thus held by said Paying Agent for the benefit of the
12
holders of the Bonds, and pending its use to pay interest on the Series 1973 Bonds, shall
be invested from time to time in investment securities as may be directed by the Board;
provided, however, that no such investment shall be made which will be inconsistent with
the requirements of Section 7.3(b). To the extent that this Section is inconsistent with
the provisions of the Contract and Agreement, then the Contract and Agreement is
hereby amended to accommodate the requirements of this Section.
(b) In addition to the directions contained in paragraph (a), next above, it is hereby
directed that from the proceeds of the Series 1973 Bonds, the sum of $465,000 shall be
deposited into the American Special Facilities Bond Reserve Fund and used, applied and
devoted to the purposes specified in the 1972 American Bond Ordinance 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 1973 Bonds. Additional deposits may be required
to be made thereto in accordance with ordinances authorizing Completion Bonds, other
Additional Bonds or Refunding Bonds. Additionally, any such ordinance may also provide
that the maximum amount required to be on deposit in said Reserve Fund shall never be
greater than an amount equal to the average annual principal and interest required on
all Bonds from time to time outstanding.
Section 5.2. AMERICAN SPECIAL FACILITIES ACQUISITION AND CONSTRUC-
TION FUND. Except as otherwise provided in Section 5.1, hereof, all proceeds from the
sale of the Series 1973 Bonds shall be deposited promptly upon the receipt thereof in the
American Special Facilities Acquisition and Construction Fund 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 Combination Freight and Maintenance Facilities.
Section 5.3. DISBURSEMENTS FROM CONSTRUCTION FUND, SURPLUS. The
provisions of Section 5.3 of the 1972 American Bond Ordinance are hereby incorporated
herein and expressly made applicable to disbursements in payment of the Costs of the
Combination Freight and Maintenance Facilities the same as the Initial Special Facili-
ties thereunder and to the disposition of any surplus from the Series 1973 Bonds; pro-
vided, however, that any surplus may be devoted to the payment of any Costs of any
other Special Facilities, if such payment is approved by the Lessee.
ARTICLE VI
FACILITIES: AGREEMENT, SUPPLEMENTAL FACILITIES AGREEMENT,
COLLECTION OF NET RENT
Section 6.1. FACILITIES AGREEMENT, SUPPLEMENTAL FACILITIES AGREE-
MENT. The Cities covenant and warrant (i) that the Facilities Agreement and the Sup-
plemental Facilities Agreement have been duly and lawfully entered into, executed and
delivered by the Cities acting by and through the Board and represents valid and subsist-
ing agreements of the Cities, the Board and the Lessee, enforceable in accordance with
their terms; (ii) that neither of the parties is in default thereunder; (iii) that this Ordi-
nance has been approved by the Lessee in conformity with the requirements of the
Facilities Agreement and the Supplemental 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 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 or Section 3.2 of the Supplemental
Facilities Agreement; (v) 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 agree-
ment or otherwise, any other provision of the Facilities Agreement or the Supplemental
Facilities Agreement, which modification, amendment or concession would have the ef-
fect of reducing, altering or modifying the obligations and commitments of the Lessee
13
contained in paragraphs (a) and (c) of Section 52 of the Facilities Agreement or Section
3.2 of the Supplemental 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 adversey affect the security herein provided for the
payment of Bonds; and (vi) that the Cities and the Board will strictly observe and abide
by their commitments contained in the Facilities Agreement and the Supplemental Facil-
ities Agreement and will strictly enforce i he obligations of the Lessee thereunder.
Section 6.2. COLLECTION OF NET RENT. In addition to the amounts of Net Rent
required to be collected at the times stated in Section 6.2 of the 1972 American Bond
Ordinance, the Cities, acting by and through the Board, shall, through appropriate bill-
ings, statements or otherwise, furnished and delivered to the Lessee, cause the Net Rent
payable under the Facilities Agreement as increased by the Supplemental Facilities
Agreement 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
on account of the Series 1973 Bonds, and the dates on which such collections are re-
quired, 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 and the Supplemental 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, ADDITIONAL FUND DEPOSITS
Section 7.1. PLEDGE. As aforesaid, the Series 1973 Bonds are "Additional Bonds"
issued with the prior consent and agreement of the Lessee and under the authority
reserved to the Cities under Section 8.2 of the 1972 American Bond Ordinance. Accord-
ingly, the Series 1973 Bonds are issued with the effect stated in said Section 8.2 and 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 trustees
for the Bonds) and the special funds created in which Net Rent from time to time shall
be on deposit as herein and in the 1972 American Bond Ordinance required; (b) any
amounts on deposit in the Special Funds created in the 1972 American Bond Ordinance
and credited against the Net Rent payable by Lessee under paragraph (b) of Section 5.2
of the Facilities Agreement and under the Supplemental Facilities Agreement; and (c) in
the event of a default in the payment of said Net Rent by the Lessee then the gross
receipts, less expenses of collection, derived by the Board from the exercise of any rem-
edy on default specified or permitted by Section 7.2 of the Facilities Agreement. All of
the items of money described above are herein and in the 1972 American Bond Ordinance
collectively called and defined as the "Pledged Revenues." Said lien and pledge as to the
Series 1973 Bonds is and shall be in all respects of equal dignity and on a parity with the
Series 1972 Bonds.
Section 7.2. ADDITIONAL FUND DEPOSITS. As provided in the 1972 American
Bond Ordinance, that portion of Pledged Revenues credited against the Net Rent payable
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
that Ordinance. All Net Rent, expressly including Net Rent collected on account of the
Series 1973 Bonds, 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 Section 6.2 of the 1972
American Bond Ordinance and, as collected, shall be held in the American Special Facili-
ties Net Rent Clearance Fund within the Joint Airport Fund, and in addition to all other
amounts required by the 1972 American Bond Ordinance to be transferred to the
14
American Special Facilities Interest and Sinking Fund, the Board shall make additional
transfers to that Fund, after accounting for any moneys already on deposit therein and
available for the purposes, as follows, to -wit:
(a) Beginning on April 1, 1974, 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 1973 Bonds on November 1, 1974, and on each succeed-
ing interest payment date thereafter.
(b) Beginning October 1, 1973, and on the 1st day of each month thereafter
through September 1, 1987, the Board shall deposit an amount equal to 1 /12th of the
principal maturing on the Series 1973 Bonds on November 1 in each next succeeding
year.
(c) Beginning on October 1, 1987, and on the first day of each month thereafter
through September 1, 1992, the Board shall deposit 1 /12th of the following amounts
during the respective periods indicated, to -wit:
PERIOD AMOUNTS
1987 -1988 $175,000
1988 -1989 190,000
1989 -1990 200,000
1990 -1991 210,000
1991 -1992 225,000
If the Cities shall have redeemed some, but less than all, of Series 1973 Bonds
numbered 321 through 520 pursuant to their option of redemption contained in Sec-
tion 3.4(b) hereof, then the amounts required to be deposited in each respective year
into the American Special Facilities Bond Interest and Sinking Fund under this
subsection (c) shall be reduced to the amount necessary in each year to provide funds
with which to mandatorily redeem the remaining, unredeemed Series 1973 Bonds
bearing said numbers or to pay the unredeemed Bonds bearing said numbers at
maturity, in accordance with the provisions of Section 3.4(c)(i) as adjusted by sub-
section (c)(iv) of said Section.
(d) Beginning on October 1, 1992, and on the first day of each month thereafter
through September 1, 2002, the Board shall deposit 1 /12th of the following amounts
during the respective periods indicated, to -wit:
PERIOD
AMOUNTS
1992 -1993
$240,000
1993 -1994
255,000
1994 -1995
275,000
1995 -1996
290,000
1996 -1997
310,000
1997 -1998
325,000
1998 -1999
345,000
1999 -2000
370,000
2000 -2001
390,000
2001 -2002
900,000
Any amounts on deposit in the American Special Facilities Bond Reserve Fund on
October 1, 2001, may, unless otherwise prohibited or limited by a subsequent ordi-
nance authorizing Completion Bonds, Additional Bonds or Refunding Bonds, be ap-
plied in reduction of the deposits required by this paragraph during the succeeding
twelve month period. Additionally, if the Cities shall have redeemed some, but less
than all, of Series 1973 Bonds numbered 521 through 1260 pursuant to their option
of redemption contained in Section 3.4(b) hereof, then the amounts required to be
deposited in each respective year into the American Special Facilities Bond
15
Interest and Sinking Fund under this paragraph (d) shall be reduced to the amount
necessary in each year to provide funds with which to mandatorily redeem the
remaining, unredeemed Series 1973 Bonds bearing said numbers or to pay the unre-
deemed bonds bearing said numbers at maturity, in accordance with the provisions
of Section 3.4(c)(ii) as adjusted by subsection (c)(iv) of said Section.
Section 7.3. USES OF FUNDS. (a) The Cities covenant that throughout the term of
the Series 1973 Bonds they will diligently comply with the requirements of Section 1.03(d)
of the Internal Revenue Code of 1954, as amended, so that the Series 1973 Bonds will not
at any time become arbitrage bonds.
(b) If it shall become necessary to remove or withhold any funds (in addition to
escrowed interest) established herein from the custody of the Treasurer in order to com-
ply with the requirements of subsection (a), 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 for 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 then the Contract and
Agreement is hereby amended to accommodate the requirements of this Section.
ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.1. RESERVED RIGHTS. In addition to the rights expressly reserved in
Section 2.2(h) hereof, all rights reserved by the Cities in the 1972 American Bond Ordi-
nance to issue Completion Bonds, other Additional Bonds and Refunding Bonds under the
provisions thereof, are hereby expressly reserved, and Article VIII of the 1972 American
Bond Ordinance is incorporated herein for all purposes.
Section 8.2. OTHER INCORPORATED PROVISIONS. All provisions of Article IX
and Article X of the 1972 American Bond Ordinance are hereby incorporated herein for
all purposes and are made applicable to the Series 1973 Bonds as a part of the Bonds and
to the Combination Freight and Maintenance Facilities as a part of the American Spe-
cial Facilities.
Section 8.3. AMENDMENTS. This Ordinance may be amended in the same manner
as provided in Article XI of the 1972 American Bond Ordinance.
Section 8.4. ORDINANCE IRREPEALABLE. After any of the Series 1973 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 thereon 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 Associa-
tion equal in amount to the aggregate principal amount of Bonds outstanding plus inter-
est to their earliest redemption date, or, if none, to their maturity.
Section 8.5. SEVERABILITY. If any Section, paragraph, clause or provisions of this
Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or
unenforceability of such Section, paragraph, clause or provisions shall not affect any of
the remaining provisions of this Ordinance, or any of the provisions of the Facilities
Agreement or the Supplemental Facilities Agreement.
Section 8.6. REPEALER. All orders, resolutions and ordinances, or parts thereof,
inconsistent herewith are hereby repealed to the extent of such inconsistency.
16
ADOPTED AND CORRECTLY ENROLLED February 8, 1973.
•
ogle F5000001000
... .. .................:� ...........
Mayor, City of Dallas, Texas
(SEAL)
ATTEST:
��CiO4. <!V'40. � . .... . ... ..
City Secretary, City of Dallas Texas
APPROVED AS TO FORM:
.... ............ ......... ..............
C y Attorney, City of Dallas, Texas
ADOPTED . ''/"!5F 7a
ayor, City of Fort Worth, Texas
(SEAL)
ATTE
�.. ... ..................
Ci y S retary, City of Fort Worth, Texas
APPROVED AS TO, FORM
AND LEGALITY:
,t .re* .... ...............................
City Attorney, City of Fort Worth, Texas
17
THE STATE OF TEXAS
COUNTY OF DALLAS
CITY OF DALLAS
I, Harold G. Shank, 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...........,
duly presented and passed by the City Council of the City of Dallas, Texas, at a meeting
of the council held on February 8, 1973, 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, `... .
City Secretary, City of Dallas, Texas
(SEAL)
THE STATE OF TEXAS
COUNTY OF TARRANT
I, Roy A. Bateman, City Secretary of the City of Fort Worth, Texas, do hereby
certify: d
1. That the above and foregoing is a true and correct copy of Ordinance No. .... rl.y
duly presented and passed by the City Council of the City of Fort Worth, Texas, at a
meeting of the Council held on February 8, 1973, 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.
V FITNESS MY HAND and the Official sea4the y of Fort Worth, Texas, this
�ry, City of Fort Worth, Texas
(SEAL)
M-1