HomeMy WebLinkAboutOrdinance 1055 CITY HALL
CITY OF FORT WORTH, TEXAS.
On this the Lay of � A. D. 1926, the
Board of Commissioners of the City of Fort Worth/ Texas, was convened in regular
session, the following members thereof being present:
Millard Burtsn Mayor
Chester Jones _ Commissionerp
John alderman� Commissioner,
Camnnissioner,
and C. So Snow, City Secretary, with J. C. Lord, Commissioner, abserk, con-
stituting a quorum, when, among other things coming before said Board for its
consideration was the natter of financing the proposed improvements in Forest
Park„ in said City, and after due consideration, Commissioner Chester Jones
introduced an Ordinance entitled$
"ORDINANCE NO. D �� AN ORDINANCE CONFIRMING CONTRACT
BErW= THE CITY OF FORT WORTH AND WEST TEXAS CONSTRUCTION
COMPANY, CONTRACTOR, FOR THE IMPROVEMENT OF CERTAIN BOULE•
YARDS IN FOREST PARK IN ACCORDANCE WITH SPECIFICATIONS OF
THE CITY ENGINEER APPROVED BY THE BOARD OF COMMISSIONERS,
PROVIDING FOR THE ISSUANCE TO THE SAID WEST TEXAS CONSTRUC-
TION COMPANY OF NOTES OR WARRANTS OF THE CITY OF FORT WORTH
EVIDENCING THE CITY'S OBLIGATION THEREFOR, SAID NOTES OR'
WARRANTS TO BE DATED DECEMBER 1ST, 1924, TO'MATURE $3,000.00
ON JUNE 1ST EACH YEAR FOR THE YEARS 19360 1931, 1939 and
1939, FOR CONVENIENCE MADE A CONTINUATION OF "PARK IMPROVE••
MENT WARRANT SERIES 1924" AND TO BEAR INTEREST AT THE RATE
OFs OF SIX PER CENT (6%) PER ANNUM, PAYABLE SEM7,.AMUALLY AFTER
19250 AND PROVIDING FOR THE LEVY OF A TAR ON EACH ONE HUNDRED
DOLLARS' VALUATION OF TAXABLE PROPERTY IN THE CITY (F FORT
WORTH, TO PAY THE INTEREST ON SAID NOTES OR WARRANTS AND TO
I PROVIDE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL
THEREOF AT MATURITY, MAKING AN APPROPRIATION TO PAY CURRENT
INTEREST, AND DECLARING AN EMERGENCY;
It was moved by Commissioner Chester Jones, seconded by Commissioner
John Alderman, that the Ordinance be read in full. Motion carried and the
Ordinance was read in full by the City Secretary.
IT WAS MOVED by Commissioner Chester Jones, seconded by Commissioner
John Alderman, that t&t the Ordinance be passed, The Motion was carried by
the f oll owing votes
AYES; Chester Jones
John Alderman
NOTEs N o n e,
The Ordinance follows;
ORDINANCE NO.
AN ORDINANCE CONFIRMING CONTRACT BETWEEN THE CITY OF
FORT WORTH AND WEST TEXAS CONSTRUCTION COMPANY, CON-
TRACTOR, FOR THE IMPROVEMENT OF CERTAIN BOULEVARDS IN
FOREST PARK IN ACCORDANCE WITH SPECIFICATIONS OF THE
CITY ENGINEER APPROVED BY THE BOARD OF COMMISSIONERS;
PROVIDING FOR THE ISSUANCE TO THE SAID WEST TEXAS CO$6
STRUCTION COMPANY OF NOTES OR WARRANTS OF THE CITY OF
FORT WORTH EVIDENCING THE CITYtS OBLIGATION THEREFOR,
SAID NOTES OR'WARRANTS TO BE DATED DECEMBER 1ST, 1924,
TO MATURE $3,000.00 ON JUNE 1ST EACH YEAR FOR THE YEARS
19361 19371, 1938 and 1939, for convenience MADE A CON-
TINUATION OF "PARK IMPROVEMENT WARRANTS SERIES 1924"
AND TO BEAR INTEREST AT THE RATE OF SIX PER CENT (6'%,
PER ANNUM, PAYABLE SEUI-ANNUALLY, AFTER 1925, AND
PROVIDING FOR THE LEVY OF A TAX OF EACH ORB HU14DRZD
DOLLARS* VALUATION OF TAXEBLE PROPERTY IN THE CITY OF
FORT WORTH, TO PAY THE INTEREST ON SAID NOTES OR
WARRANTS AND TO PROVIDE A SINKING FUND FOR THE PAYMENT
OF THE PRINCIPAL THEREOF AT MATURITY, MAKING AN
APPROPRIATION TO PAY CURRENT INTEREST, AND DECLARING
AN EMErG ENCY.
WHEREAS, the City of Fort Worth and its Board of Park Comissioners,
in strict compliance with the requirements of the Fort Worth City Charter,
have heretofore received bids for said construction, and of the bide received,
determined that the bid of West Texas Construction Cogtpany was the lowest and
best bid, and thereafter, the Park Board entered into contract with the said
West Texas Construction Company, for the construction of said Park Improvements,
which contract and the specifications attached thereto are in words and figures
as follows, to-wit;
'nM STATE OF TEXASI
I
COUNTT Q' rARRM X
ZiI6 COIITAACT, Bade and *stored into this day by and betv"s the
Park Board at this City of Fort worth, Torrent County, Tessa, eetiog by
Chester L. Jones, it* President, and Mrs. V. I. walsb, its Ses"%wy, and
under the advice of the Corporation Counsel of said City; and west Taxes
Construction Company of Fort wertb, Tarrant County, Texas,
w I T N 1 6 8 E T H t
That the arty of Fort wwtb, hereby agrees to
empley said wort Texas Construction Campasy is build, construct and ear
piste laprovenssto t* certain boulevards ioostod is Forest Park in the
City of Fort Wert], Tarrant Osuty, gsxas, to accordance with the terms
and specifteatis" on file in the office of the Superintendent of Parrs,
a espy of which is berate attached and made a part hereof, for all purposes.
IT LS MUTUALLY UNDXRSTOOD AND ►GRMW That the said Contractor is
to furnisb all voterials, teals, lmplamooks, labor and appliances necessary
to complete amid work.
IN OOUX'EAATION of the oetomuds and obligations herein o0 0ai.ned
and the wort to be done and completed, the said Park Beard of the City of
Fort worth hereby obligates and binds itself to pay the said contractor,
West Texas Construction Compaay, for the work bereit contemplated as follows:
Paving Two and 31/100 Dollars $2.35 Sq.Td,
Combined Curb and Batter Ono and 9e/100 Dollars 3.00 Lis.Ft,
Earth Excavation Ninety Cents .90 Cu.Yd.
Stpn *war
3-Foot Islets Thirty and NO 00 Dollars 30.00 Eeck
S-Foot lnlsto Fifty and NO 100 Dollars 30,00 seek
10-7001 Inlets One Humood'and No/100 Dollars 100.00 Lhdb
W Piths Pipe Twe and 10/l0O Dollars Z.io Ft,
1$0 Tij1• Pipe One and "/100 Dellers 1." Ft,
12" Tips Pipe One and 70/100 Dollars 1," Ft,
Trench Excavation - Eartb One and 60/100 Dollars 1160 ;ZT4
Troaoh Excavation - Rook Three and 5Oft00 Dollars 3,50 cvi Td'
Concrete Bacldill Five and 501100 Dollars 6.50 0%100
2711 Tills Pipe Four and 50/1CO Dollars 4.50 Ft,
IT IS FURTHER EfIiMALLT UNDERSTOOD AND AGREED That the estimated cost
of said construction and the maximum amount to be paid to the said Rest Texas
Construction Company shall be Twelve Thousand (0120000.00) .Dollars.
That active work gust be begun by the contractor within thirty days
from the date hereof and completed within ninety (90) working days after its
comaneemant.
A former contract made and *xooutcd by and between the partite herat%
dated 8th day of Eiorcmbor, 1924, for the construction of Improvements to certain
boulevards in Forest Park is hereby expressly reoegnised. Duo to the foot that
the Improvements oentemplated under this contrast are in fast merely a sentinua-
ties of and extension of an oddities to the improvement program entered into in
the originml, eestract, it is further agreed that compensation hereunder to the
contracter shall be paid by the issuance of 'City of Fort Worth Park ImgroTomegt
Warrant*, Series 19240", that said warrants to be issued and delivered hereunder
shall be sorely a continuation of the original issui of said warrants, and shall
consist in twelve (12) warrants of the denomination of $1,000.00 sash numbered
from forty one (41) to Fifty-two (52), inclusive.
AWE?, It is further mutually agreed and undorstaed that the Port Worth
Park Board and the City of Fort Worth will execute and deliver to west Texas Con-
struction Company Warrants bearing interest at the rate of six per cent (!)Q per
annum, from date until paid, said Warrants to be dated on the ist day of Doesmber,
1924, and payable rosp*otively as followsi $3,000.00 on the lot day of June of
each year for years, 1936, 1937, 1938 and 1939, whish interest is a part of the
contract pries.
IT IS FURTFM ARM AND UNDERSTOOD That the Warrants in payment of
labor and material furnished hereusder may be delivered in installments upon
estimates approved by the Fort Werth Park Board, the Contractor to reimburse the
City for easy**& intorest an said Warrants, calculated to date of delivery.
IN TICST3MONY WH8MOV, Witness the Act of the Park Board of the City
of Fort Worth, signed by its President, and attested by its Secretary and the
ondorsom*nk thersen of the Corporation Counsel of the City of Fort Worth, and
the Big nature of the West Texas Oonstrustion Company, this tho/�day of
February, 1925. M PARK BOARD Or THE CITY Or FORT WORTH
BY Chester 6 Jones _President
ATT19Ti WEST TEXAS CONSTRUCTION COMPAMY,CONTRACTOR,
W. 1. Wala�..rL.....:.Seontary. By, S. Ift Johnson Presided,
which contract has been duly considered and approved as to form and efficacy
by the City-Attorney and by this Board! and,
WHEREAS, Said Contract and the plans and specifications attached
thereto and made a part thereof have been submitted to the City Engineer, and
have been checked by and approved by his, his approval being evidenced by en-
dorsement on the original on file in the office of the City Secretary)
THEREFORE, BE IT ORDAINED By the Board of Commissioners of the City
of Fort Worth t
(1) That said contract be, and the same is hereby, in all things
ratified, confirmed and approved as the Act and Contract of the City of Fort
Worth and of its Board of Commissioners and of the Park Board.
(1-A) This Ordinance expressly recognises the existence of a former
Ordinance No. 1036, confirming another Contract between the City of Fort Worth
and West Texas Construction Company, authorizing the issuance of interest bearing
time warrants to compensate the Contractor in the amount of *40,000.00, dated
December 1, 1924, bearing interest from date at the rate of six per cent (6%)
per annum, numbered one (1) to Forty (40), inclusive, of the denomination of
$1,000.00 each, suturing serially $4 OMOO per year in the years 1926, to 1939a
inclusive. Due to the fact that the improvements provided for in the contract
herein confirmed, are a part of the came Improvement program contemplated under
the former contract, ordinance, and warrant issue, for convenience the warrants
authorized herein shall be a continuation of the original series of warrants,
differentiated merely by being styled "Series 1924-B".
(2) That in accordance with said contract,, warrants of the City of
Fort Worth shall be executed and delivered to the said West Texas Construction
Company, subject to restrictions hereinafter set forth, in the amount of
$123 000.00, dated December lot, 1924, in the denomination of $1,000.00 each, to
n
bear interest at the rate of six per cent (6p per annum, which interest is a
part of the contract price, payable June let, 1925, and thereafter semiannually
December lot and June let, of each year, and to mature as follows:
WARRALMSt NUMB= MA�TTjRSTYY &QUXT
41-43 Inclusive June let, 1936 $3,ON,00
44"6 " June lot, 1937 $3,000.00
47-49 " June 1st, 1938 $3,000,00
50-52
" June lot, 1939 $3,000.00
(3) That all warrants of this series shall be in the denomination
of $1,000.00 each. Said Warrants shell be signed by the Mayor, attested by the
Secretary, and shall also be signed by the President of the Park Board and
countersigned by the City Auditor and Secretary of the Park Board.
(4) They shall be in foam and shall contain.recitals substantially
1
as followei
UNITED STATES OF AMERICA
$1,OOa.00
STATE CF TEXAS
CITY OF FORT WORTH PARK IMPROVMNT WARRANT
SERIES 1924-B
The City of Fort Worth in the County of Tarrant, and State of
Texas, for value received, acknoeleftes itself indebted and promises to pay
to West Texas Construction Company, or bearer, at the Hanover National Bank,
New York, N. Y., the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America, on June lot, 19 .with
interest thereon at the rate of six per cent (6p per annum, payable June let,
1925, and semi-annually thereafter June let and December let of each year,
upon presentation and surrender of proper coupons, principal and interest payable
at the bank above named. And for the prompt payment of this warrant and the
interest thereon at maturity, the full faith, credit and resources of the City
of Fort Worthy Texas, are hereby irrevocably pledged.
In the event the sum of money evidenced by this warrant and the
annexed 00%pons shall not be paid at maturity, the same shall thereafter bear
interest at the rate of six (6p per cent per annum until fully paid, and in
the event of such default and it becomes necessary for the holder to place
this warrant or any of the coupons attached hereto in the hands of an attorney
for collection or to institute any legal proceedings thereon, the City of
Fort Worth obligates itself and promises to pay to the holder hereof an
additional ten (10A per cent as attorneys fees.
THIS WARRANT is one of a series of'twelve warrants of like
tenor except as to maturity, aggregating $12,000.00, numbered forty-one (41).
to fifty-two (52) inclusive, issued by the City of Fort Worth for the purpose
of the construction of Park Improvements in Forest Park, in said City, in
accordance with the constitution and laws of the State of Texas, and the City
Charter of the City of Fort Worth, and pursuant to an ordinance passed by the
Board of Commissioners of said City of Fort Worth on the day of
recorded in the Minutes of said Board of Commissioners. This issue
of Warrants for convenience is made a continuation of "Series 1924" in the
amount of $40,000.06, dated December 1, 1924, which series mature serially
1926 to 1935, inclusive, as authorised by Ordinance passed November 8th, 1924.
.. %Po.
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and tssms regat od to to doss prooudaA to ad An its Lrswwa of sorts
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pslarost of for prinrpad ad Istor44 of Shls ror plo and lbo sorbs of
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to io borw" atria& and tide wevraut to be fig"d by Ltr Moyer, nsiko"
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of a "ruin **Arm*% VjAb "Id 0141* of daft it,a+a is aoldauraatior► of tba portanalles 04bub LlSxas�. '
fit) "a we" 4artar cost 046%ftat aial be %udrt
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ward 0" %be D"rt at C"W
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caaassorala"mrs of $be cttf .boll *" fa"" ►lvAloss So sham no
apoo&" badiara Of VOOM wart olleoug on ast€sssa fares s"ravrd IV SM
tasf Mg ioaor, tba froporr of f oor of $* 3itl► a>tsll doll+alt le %W ft*w
trarotor • snt!'ia104 air of 40" *orrvx;U 'to cower tbo 041900,09 UNION,
US JOVI rvasla 106" dot* Aft" *,as. � *.w&.a tbas t ""ftataar *61-1-
P" to bbs (MY at sbo sssaa 4 0*41 do svett7 a am IF 0*" **4"1014 to
%be 00400" iriaroart OR Stoo Was$+aasta dsiir4VO4 4010441444 tar daeto Of
t:ll
"at for WO oso of r'^!Us %be prImApal and
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004% "M T4141M of void tasmbla y7soloarow As %be out of tort OOM
a us Oattfolosk tear It vwvosob aot to frovi+M far she got"4 of oeid
.ram
Principal and interest for the year 1925, there is hereby levied on each
*100 valuation of property within the City of Fort Worth a tax of sixteen
Hundredths Cents (160016) authorized to be levied by the Board of Commissioners
out of the 10 cent ad valorem tax authorized to be levied for general park
purposes, and said tax at the rate named is hereby ordered and directed to
be levied, set aside and apart annually out of said ib cent ad valorem tax.
For the years 1926 and for,each succeeding year while any of said warrants,
or any part thereof, are outstanding and unpaid, and at the time other city
taxes are levied, in each of said years, there shall be computed and ascer-
tained what rate of tax based upon the latest approved tax rolls of said City
will be sufficient to fully raise and produce in each of said years the amount
of principal and interest maturing in said year, and for each 9f said years
there is hereby ordered to be levied, assessed and collected out of said tax
for the support of said warrants a tax at such rate as shall be found neceseary,
as aforesaid, and all of said taxes so collected shall be placed in a sepa-
rate special fund for the payment of principal and interest of said warrants,
and for no other purposes; and the Board of Commissioners of the City of
Fort Worth shall, each year, in making its annual budget, include therein
the amount of principal and interest of said warrants maturing in said
respective years, including the year 1925.
(9) The sum of $726.00 is hereby appropriated and set aside
out of moneys now on hand and in the treasury to the credit of the Park
Fund for the purpose of paying the interest on this issue of warrants
which interest will mature before the moneys received from taxes are
available for this purpose. The Mayor, Auditor and City Secretary are
hereby directed to draw proper voucher on the Treasurer to accomplish
this provision and said moneys shall be used for no other purpose than
to pay interest accruing June lot, 1925 and December 1st, 1925.
I
(!l!!3 Dw is %be reef %be* sho V""r i"rnx+rloss of 1*sr044 p«rb
so o"Widsrod mag"Msrry for the vats" of $be (:I** o"asi s sms ft
wusney a" amseaw nwsur* r"Os+w" for ow hw& s progervo43ss
d lOUiS b*44h and "#*61* VO4U OS UP4 tbls ft"MMS beOMO 490
rnluallp sffastiv s from ani artW As p oomso aM 111 to •r&ieo4
pas"d thso .r - .0 /,
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