HomeMy WebLinkAboutOrdinance 7526 CITY OF DALLAS ORDINANCE
NO,
CITY OF FORT WORTH ORDINANCE
NO. 7526
(Series 1970, Nos. 2706 and 2707)
An ordinance passed concurrently by the City
Councils, respectively, of the Cities of Dallas and Fort
Worth, authorizing the issuance of two $5,000.00 replacement
bonds to replace bonds numbered 2706 and 2707 of Dallas-Fort
Worth Regional Airport Joint Revenue Bonds, Series 1970 and
resolving other matters relating to the subject.
WHEREAS, the Cities of Dallas and Fort Worth by
ordinance passed concurrently on April 14, 1970, authorized
the issuance of and sold their Dallas-Fort Worth Regional
Airport Joint Revenue Bonds, Series 1970, in the aggregate
principal amount of $50,000,000.00, dated April 1, 1970; and
WHEREAS, two bonds of the above described Series of
bonds, to-wit-
Bonds Numbered 2706 and 2707 in the denomination
of $5,000.00 each, and bearing interest at the
rate of 7.10% per annum, payable semi-annually on
each May 1 and November 1 (Interest Coupon No. 5
and subsequent coupons appertaining thereto
unpaid) , and maturing November 1, 1999
are outstanding and unpaid; and
WHEREAS, an affidavit in due form verified by William
R. Newton, affiant, to the effect that Dallas-Fort Worth
Regional Airport Joint Revenue Bonds, Numbered 2706 and 2707
in the aggregate amount of $10,000.00, Series 1970, were de-
stroyed in the residence of William R. Newton, 402 N. Jefferson,
Cameron, Texas 76520, the owner of such bonds, on April 24,
1972, has been received and is on file in the offices of the
Director of Finance of the Dallas-Fort Worth Regional Airport,
and such affidavit has been accepted by the City Councils of
Fort Worth and Dallas as sufficient evidence that the above
described securities have been destroyed, within the meaning
of Article 715a of the Revised Civil Statutes of Texas, and
a certified copy of such affidavit is attached hereto as a
permanent part hereof; and
WHEREAS, at the time the loss occurred, Coupons
Numbered 5 coming due on November 1, 1972 and subsequent coupons
were attached to said securities, and therefore neither said
coupons nor any subsequent coupons have been presented for
payment; and
WHEREAS, the owner of said bonds and appurtenant
coupons desires that replacement bonds be issued to replace the
aforesaid destroyed bonds and appurtenant coupons; and
WHEREAS, by Acts 1965, of the 59th Legislature, of
the State of Texas, Chapter 334, commonly known as Article 715a
of the Revised Civil Statutes of Texas, the City Councils of
Dallas and Fort Worth are authorized to issue without an election
bonds to replace any bonds theretofore lawfully issued which are
outstanding and which have been destroyed, lost or stolen, pro-
vided that such replacement bonds may be issued only upon
indemnification satisfactory to the issuer and upon an affidavit
or other form of evidence satisfactory to the issuer establishing
proof of ownership and the circumstances of the loss, theft
or destruction of the bonds for which replacement bonds are
being sought; and
WHEREAS, Lost Securities Bond No. 915525 dated April 14,
1975, and executed by William R. Newton, as principal and by
Highlands Insurance Company as surety has been received and
is on file in the office of the Director of Finance of the
Dallas-Fort Worth Regional Airport and such Lost Secutities
Bond is acceptable to the City Councils of Fort Worth and Dallas
as sufficient indemnity under the provisions of Article 715a
of the Revised Civil Statutes of Texas, and a certified copy
of such Lost Securities Bond No, 915525 is attached hereto as
a permanent part hereof;
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:
Section 1. That there is hereby authorized to be
issued replacement bonds to replace Bonds Numbered 2706 and
2707 of Dallas-Fort Worth Regional Airport Joint Revenue Bonds,
Series 1970, Said replacement bonds and the interest coupons
appertaining thereto shall be in the same form and in all
respects of like tenor and effect as said Bonds Numbered 2706
and 2707 and the interest coupons appertaining thereto, except
that such replacement bonds and the interest coupons appertain-
ing thereto shall be signed manually, or in facsimile, as
provided by law, by the proper officials holding office at
the time of the issuance, and that no interest coupon shall
mature prior to November 1, 1972, and that only Interest Coupons
No, 5 and subsequent interest coupons shall be attached to
said replacement bonds.
Section 2, That said replacement bonds shall be
dated April 1, 1970, which is the date of the destroyed bonds.
Section 3, That said replacement bonds and all
interest coupons appertaining thereto shall have the letter
"R" preceding the Bond Number and following the Interest Coupon
Number,
Section 4, That after said replacement bonds have
been executed, it shall be the duty of the Chairman of the
Board of Directors of the Dallas-Fort Worth Regional Airport
Board or some officer, employee or attorney of the Board acting
through authority from him, to deliver said replacement bonds
to the Attorney General of Texas for examination and approval.
After approval by the Attorney General of Texas, said replace-
ment bonds shall be delivered to the Comptroller of Public
Accounts of the State of Texas fox registration. The replace-
ment bonds thus registered shall remain in the custody of the
Chairman of the Board, or subject to his order, until the
delivery thereof to the owner of the original bonds being
replaced thereby.
Section 5. That the Comptroller of Public Accounts of
the State of Texas is hereby authorized and directed to register
the replacement bonds in the same manner as the original bonds
were registered, giving them the same registration number as
the original bonds, except that such number shall be preceded
by the letter "R". The Comptroller shall date his registration
certificate as of the date of registration of the replacement
bonds.
Section 6. That all provisions of the ordinance
adopted by the City Councils of the Cities of Dallas and Fort
Worth on the 14th day of April, 1970, authorizing the Series
of bonds of which said destroyed bonds were a part and which
are not in conflict with this ordinance are hereby adopted
by reference and shall be a part of this ordinance.
Section 7. That the preparation and adoption of this
ordinance by the City Councils of Dallas and Fort Worth and
the adoption of the Resolution recommending same by the Board
of Directors of the Dallas-Fort Worth Regional Airport and the
performance of each and every, all and singular, the acts
ordered hereby and all acts or expenditures incidental thereto
shall be at no cost to the City of Dallas, the City of Fort
Worth, or the Dallas-Fort Worth Regional Airport and shall
be borne entirely by and be the sole liability of William R.
Newton the owner of said above described destroyed securities
who has requested the issuance of replacement securities as
provided herein.
Section 8. This ordianance may be executed in counterparts,
and when duly passed by both Cities, and separate counterparts
are duly executed by each City, the ordinance shall be in full
force and effect.
PASSED AND CORRECTLY ENROLLED
1977.
Mayor
City of Dallas, Texas
(Seal)
ATTEST:
City Secretary
City of Dallas, Texas
APPROVED AS TO FORM:
City Attorney
City of Dallas, Texas
PASSED N1 Wr(—H c 1977,
Mayor
City of Fort Worth, Texas
(Seal)
ATTEST:
(CAy Secretary
City of Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
City Attorney
City of Fort Worth, Texas
FORPl OF CrRTIFICATr
I, Frances Ploore, Staff Secretary of the Board of Directors
of the Dallas-Fort Worth Regional Airport, do hereby certify
that the foregoing Affidavit of Ownership, attached hereto, is
a true and correct copy of the original of said document on
file in the records of the Dallas-Fort Worth Regional Airport.
�rances Moore, Staff Secretary
Board of Directors
Dallas-Fort Worth Regional Airport
(Airport Seal)
1W
STATE OF TEXAS
COUNTY OF MILAII
William R. Newton, being first duly sworn, affiant and says :
That he resides at Newton Clinic, in the City of Cameron, and State
of Texas 76520;
That he is the lawful and exclusive owner of certain securities
more particularly described as follows :
$10 , 000 DALLAS-FORT WORTH REGIONAL AIRPORT JOINT REVENUE BONDS ,
SERIES 1970 - Bond Numbers 2706 and 2707 with coupon Number 5 and
subsequent coupons appertaining to each respective security.
That said securities were not endorsed or assigned, either
on back of the securities or by separate assignment;
That neither said securities nor the rights of this affiant
have, in whole or in part, been sold, transferred, assigned, pledged
or otherwise disposed of, and that no one other than this affiant
has any right, title or interest in said securities or any part
thereof;
That this affiant is entitled to full and exclusive possess-
ion of all of said securities;
That said securities were lost, stolen or destroyed on or
about April 24 , 1972, under the following circumstances :
Burned when aff_iant' s house was destroyed by fire;
That this affidavit is made for the purpose of inducing the
City of Dallas and the City of Fort worth to issue and deliver
said affiant new or duplicate securities in lieu of those stated
to have been lost or destroyed, or to deliver to said affiant the
securities and/or cash for which the securities described above have
become exchangeable, or to pay to said affiant the amount due there-
on, without surrender of said securities; and in case such origi-
nal securities should at any time hereafter come into the possession
or control of the undersigned, this affiant hereby agrees to sur-
render the original securities immediately to the Dallas-Fort Worth
Regional Airport Board;
That the preparation and adoption of proceedings of the City
Councils of Fort Worth, and Dallas , and the proceedings of the
Board of Directors of the Dallas-Fort Worth Reqional Airport and
the performance of each and every, all and singular, the acts with
respect thereto and all acts and expenditures incidental thereto
shall be at no cost to the City of Fort Worth, the City of Dallas
or the Dallas-Fort Worth Regional Airport and shall be borne en-
tirely and be the sole liability of affiant.
It is understood that the word "securities" herein referred
to shall mean one or more than one particular instrument or docu-
ment as above described.
Dr. William R. Newton
Subscribed and sworn to before me this
day o A.D. 1977.
Notary Public
My Commission expires
FORM OF CERTIFICATE
I, Frances Moore, Staff Secretary of the Board of Directors
of the Dallas-Fort Worth Regional Airport, do hereby certify
that the foregoing Lost Securities Bond, attached hereto,
is a true and correct copy of the original of said document
on file in the records of the Dallas-Fort Worth Regional
Airport.
Frances Moore, Staff Secretary
Board of Directors
Dallas-Fort Worth Regional Airport
(Airport Seal)
nOND NO. 915525
i
LOST SLCURITI.ES BOND
KNOW ALL MEN I3Y THESE•. PRESENTS, That
William R. Pde Baton
As Principal (hereinafter called "Principal'') , and Highlands
Insurance Company , a corporation under the laws of the State
of Texas , having its principal o f f i.ce at Houston
Texas , as Surety (hereinafter called "Surrety") ,
are held and firmly bound unto
City of Dallas
City of Fort Worth
Dallas/Fort Worth Regional Airport Board
their respective legal representatives, sucecs;ors and assigns
(hereinafter collectively called "Obligees") in i-wo separate sums
as follows:
1. Liquidated Damages. In the unpaid face amount of the
hereinafter described security together with Um unpaid interest
coupons attached thereto, which said face amount of the security
is determined and agreed to be jo"w
d<'
and which said amoun .jpf tumid int-crest coupons is /
determined and agreed to he Q.
�.-�tt'.<..�
ma nod] total o f���
r1
which said combined�� �r t 11_t�, _ i�lf1C � R (I��_� R s_ 7 t.r <•�•16""
„ E Dollars ($'1 00, total is hereh,f declared to Igo due
Ad payable to Obl ices as .1�u_idat ed damages at such time as
said hereinafter described security or one or more of the inter-
est coupons which were originally attached thereto is presented
for payment to Obligees or any of them.
Said amount of liquidated damntles shall be paid within 15
days of the date on which Obligees or any of Lhem deliver to
Surety a verified statement that the said hereinafter described
security or interest_ coupons or any of them has been presented to
Obligees or any of them for payment. If :,a.id amount of liqui-
dated damages is not paid within 15 days as aforesaid. Principal
and Surety are further bound to pay to Ob igees an additional
sum, also as liquidated damages, equal to 25 ', of the combined
total of liquidated damages ao hereinabove sck ouC in words and
figures, said additional sum being Lo reimhut se for
attorneys fees and/or expense of collection.
2. Open Penalty. As open penalty, in the amount: of all
liabilities, losses, damages, costs, chargos, counsel fees (in-
t
luding attorney fees Arid expenses actually incurred in collec-
Ettion of this bond, but this amount: shall be. reduced by attorney
fees paid as liquidated damages tinder preceeding paragraph.)
and other expenses of o-mry nature and character by reason of
the paying or crediting; of said hereinafter described security
or attached interest coupons or any of: them •:it:hout: same being
then and there presentcci and surrendered.
Each of said amounts, being the 1 iquirl :rl damages and open
penalty as clescribed ahne, sh.-Al. be pa-aVir. n la: i tl money of
the lrnited States of America to Ohl.iclons, t.' e r rer.hective legal
representatives, succesrnrs or ac.s qns, as i , crest may appear.,
for which payment, well ,and trul•, to be nraclr--, the Principal and
Surety bind themselves, their re.r,pective hnirr, legal representa-
tives, successors and assigns, jointly and rw nmlly, firmly by
these presents.
SEALED with our seals and executed in one (1) connterpartsc
this 14th clay of April.
WHEREAS, the Principal represents that: the i'r�.ncipal is the owner
of Dallas-Fort Worth Regional Airport Joint Revenue Bonds, Series
1970 - Certificates #2706 & 2)07
and that the same has been mislaid, lost:, stolon or lestroyed and
cannot be found or produ -ad, by -.i rtue n f which tho principal
has requested the Obligors to issue to Prinr;yal or no Princi-
pal's order a new or dnrl :cite instrument nr nstruuonts, or
to pay to Principal or cradit to Principal 's account the face
amount of same without surrender t.hereoC for ranceliatinn; and
WHEREAS, on the faith of the foregoing reprosentat.inns and in
consideration of this honl of inrlemnit:y, kiln Qlignoa have com-
plied or agreed to compl,.• with sr:irl request:
NOW, THEPEFORE, THE CONDTTIONS OT- TIITS OBI,TG',TTOtT rlI'? that if
the Principal, the heirs, .legal ;epresentat_i �s-, successors or
assigns of tite Principal, or any of them, sh,:1l in c:iso the mis-
laid, lost, .stolen or destroyed original or nriginals: ] c found
or come into the hands or power of any of t.hor.,, or into the hancls,
custody or power of any person, cicl.iver nr c::-,:se the same to be
delivered unto the Oblicrees in order to he cancelled, and shall
also at all times indemnify and sa,,e harmlescr the Obligees from
and against any and all claims, actions and :-airs whether grcnind-
less or otherwise, and from and a7ainst any and all liabilities,
losses, damages, costs, c"arges, counsel ice:: and other e>:penses
of.every nature and character by reason of t''r said MOM,
lost, stolen or destroyed original or nrrictin-Is and "or the issu-
ance of a duplicate or du li Cate: in l irmr thc•woE or the paying
or crediting of the face :.mount of thr nrig.iral or originals with-
out surrender thereof., :•nether or not cou=:ed , based upon or
arisings out of .inaclvertonco, accident, (orr- i rht or nenlect on
the part of the obligees or their reshegti-e c-iicers, agents:,
,�lerks and employees and/or omission or fail.tire to inquire into,
ycontest or litigate thee right of any applicant: to receive any
t payment, credit, transfer., registration, e.•:change or delivery
in respect of the original or original anrl/nr the duplicate
or duplicates issued in lieu thereof, and/or caused by, based
upon or arising out of any other matter or ihinq whz'.tsoever, than
this obligation shall be void; ot:hertaisr' sh 11. remain in full
force and ef.[ect.
Venue of any action brought hereunder shall tie hereunder in
Tarrant County, Te%a.s.
William R. Newton 1
• (L.S.)
HIGHLANDS INSURANCE COMPANY
�.�,1! -
T.I.t_o,tiev-i n-Fact
M. L. Cashion
HIGHLANDS INSURANCE COMPANY
HOUSTON, TEXAS
GENERAL POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
That the Highlands Insurance Company, a corporation, duly incorporated under the laws of the State of
Texas, doth hereby constitute and appoint Joe E. Vincent, M. L. Cashion and Frances G. Stowe,
Jointly or Severally
of the City of Bryan , State of Texas to be
its true and lawful attorney-in-fact for the following purposes, to-wit:
To sign its name as surety, and to execute, seal and acknowledge any and all bonds, recognizances, ob-
ligations, stipulations, undertakings or anything in the nature of the same, and to respectively do and perform
any and all acts and things set forth in the appended resolution of the Board of Directors of the said Highlands
Insurance Company; provided, that the penal sum of no single one of such bonds, recognizances, obligations,
stipulations or undertakings shall exceed the sum of
Unlimited Dollars
Unlimited
(� ); the Company hereby ratifying and confirming all and whatsoever the said attorney-in-fact
may lawfully do in the premises by virtue of these presents, but reserving to itself full power of substitution and
revocation.
IN WITNESS WHEREOF, the said Highlands Insurance Company, pursuant to a resolution passed by its
Board of Directors, at a meeting held on the 5th day of April, A.D., 1963, a certified copy of which is hereto an-
nexed, has caused these presents to be sealed with its corporate seal, duly attested by the signature of its
President, Vice Presidents and Secretary this 8th day of July
A.D. 19 71
HIGHLANDS INSURANCE COMPANY
ti,�rx f By
Secretary ice esident
STATE OF TEXAS
COUNTY OF HARRIS,
CITY OF HOUSTON.
On this 8th _day July in the year 19 71 before me personally came
Curtis B. Roberts to me known,
who, being by me duly sworn, did depose and say: That he resides in Houston, Texas; that he is Vice-
President of the Highlands Insurance Company, the corporation described in and which executed the above in-
strument; that he knows the Seal of said corporation; that the Seal affixed to said instrument is such corporation
Seal; that it was affixed to such instrument by and under authority conferred by the Board of Directors of said
corporation; and that he signed his name thereto by like authority.
1
'RY PU�
��. Notary Public, Harris Coun Texas
k.
r t
RESOLUTION
RESOLVED, that this Company do, and it hereby does authorize and empower its President or any one of
its Vice Presidents, in conjunction with any one of its Secretaries or any one of its Assistant Secretaries, under
its corporate seal, to execute and deliver or to appoint any person or persons as attorney-in-fact or attorneys-in-
fact, or agent or agents of this'Company, in its name and as its act, to execute and deliver any and all contracts
guaranteeing the fidelity of persons holding positions of public or private trust, guaranteeing the performance of
contracts other than insurance policies and executing or guaranteeing bonds and undertakings, required or per-
mitted in all actions or proceedings, or by law allowed; and, in its name and as its attorney-in-fact or attorneys-
in-fact, or agent or agents, to execute and guarantee the conditions of any and all bonds, recognizances, obliga-
tions, stipulations, undertakings or anything in the nature of the same, which are or may by law, municipal or
otherwise, or by any Statute of the United States or of any State or Territory of the United States, or by the rules,
regulations, orders, customs, practice or discretion of any board, body, organization, office or officer, local
municipal or otherwise, be allowed, required or permitted to be executed, made, taken, given, tendered, accepted,
filed or recorded for the security or protection of, by or for any person or persons, corporation, body, office, inter-
est, municipality or other association or organization whatsoever, in any and all capacities whatsoever, condi-
tioned for the doing or not doing of anything or any conditions which may be provided for in any such bond,
recognizance, obligation, stipulation or undertaking, or anything in the nature of the same; the nature, class or
extent of the instruments so authorized to be specified in such power of attorney.
I R. E. Plack , Secretary of Highlands Insurance Company, hereby certify
that at a meeting of the Board of Directors of said Company, duly called and held at the office of the Company at
the City of Houston, on the 5th day of April, A.D. 1463, at which was present a quorum of said Directors, duly
authorized to act in the premises, resolutions were passed and entered on the minutes of said Company, of which
resolutions the foregoing is a true copy and of the whole thereof.
IN TESTIMONY WHEREOF, I have hereunto set my hand and seal of Highlands Insurance Company, this
8th _ day of July A.D. 19 71 .
Secretary
i
STATE OF TEXAS
COUNTY OF HARRIS
I R. E. Plack Secretary of Highlands Insurance Company, do hereby
certify that the above and foregoing is a true and correct copy of a Power of Attorney, executed by said Highlands
Insurance Company, which is still in full force and effect.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said Company in the City of
14th April 75
Houston, Texas, this day of A.D. 19—
Secretary
Sri,5
FILo
UNE - City of Fort Worth, Texas
BAILIFF. Mayor and Council Communication
ATE REFERENCE SUBJECT: Concurrent Ordinance of the Cities PAGE
NUMBER of Fort Worth and Dallas Authorizing the
3/28/77 G-3378 Issuance of Two $5,000 Replacement D/FW for
Airport Bon Ts
Bonds numbered 2706 and 2707 in the denomination of $5,000 each, bearing interest
at the rate of 7.10% per annum, payable semi-annually and maturing November 1,
1999, are presently outstanding and unpaid. William R. Newton has filed an
affidavit in due form and verified that he was the owner of such bonds in April,
1972, and that such bonds were destroyed by fire at his residence at that time.
This affidavit is on file with the Director of Finance of the Dallas-Fort Worth
Regional Airport. William R. Newton, as Principal, and Highlands Insurance
Company, as surety, have posted a Lost Securities Bond providing that liquidated
damages in the amount of $29,525 be paid within 15 days after delivery to the
Surety a verified statement that either of the above securities or any interest
coupon has been presented for payment. This bond is on file with the Director
of Finance of the Dallas/Fort Worth Regional Airport.
The Dallas/Fort Worth Regional Airport Board by Resolution 77-034, adopted
March 1, 1977, requested and recommended that the City Councils of the Cities
of Dallas and Fort Worth pass an ordinance to authorize replacement bonds for
bonds numbered 2706 and 2707.
It is understood and agreed with the owner of the above bonds that the prepara-
tion and adoption of this ordinance and the performance of each and every act
ordered by such ordinance and any act or expenditure incidental thereto shall
be at no cost to the City of Fort Worth, the City of Dallas or the Dallas/Fart
Worth Regional Airport and shall be borne entirely and be the sole liability of
William R. Newton, the owner of the above described bonds.
It is the opinion of the Department of Law that all required conditions precedent
to the passage of this Concurrent Ordinance have been satisfied and that the
Lost Securities Bond is sufficient to indemnify the City of Fort Worth in the
event bonds numbered 2706 and 2707 are ever presented for payment.
Recommendation
It is recommended that this Concurrent Ordinance be adopted by the City Council
of the City of Fort Worth.
MCM:ms
SUBMITTED BY: DISPOSITIO BY COUNCIL: PROCESSED BY
^ ETAPPROVED gnp- n0^OTHER (DESCRIBE) � C—
/?_� 1 1P f ED OROUJ A INV .f' 1`i�l ! -7 S Z C11 SECRETARY
DATE
CITY MANAGER V-Z S/�