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HomeMy WebLinkAboutOrdinance 4281 . r OFFICIAL RECORD ORDINANCE NO. � CITY SECRETARY AN ORDINANCE PROVIDING FOR THE ISSUANCE OF NEGOTIABLE COiIPON FT. WORTH, TEX. BOND OF THE GOVERNMENT OF THE CITY OF FORT WORTH, TEXAS, AMOUNTING TO THE PRINCIPAL SUM OF THREE MILLION, EIGHT HUN- BRED THOUSAND DOLLARS ($3,800,000.00), IN ADDITION TO THE SUM OF THREE MILLION DOLLARS ($3,000,000.00) WORTH OF SAID BONDS HERETOFORE ISSUED OUT OF AN AUTHORIZED ISSUE OF TWENTY-TWO MILLION, EIGHT HUNDRED AND SEVENTY-FIVE THOUSAND DOLLARS ($22,8751000.00) WORTH OF SAID BONDS, AND BEING KNOWN AS SERIES 94 AND DESIGNATED AS "STREET IMPROVEMENT BONDS," TO BE ISSUED FOR THE PURPOSE OF MAKING PERMANENT CITY IMPROVEMENTS BY CONSTRUCTING, IMPROVING AND EXTENDING THE STREETS, THOROUGH- FARES AND STORM SEWERS OF SAID CITY, INCLUDING IN SUCH PERMANENT PUBLIC IMPROVEMENTS THE STRAIGHTENING, WIDENING, PAVING, GRADE SEPARATION, LIGHTING AND DRAINAGE OF SAID STREETS AND THOROUGH- FARES, AND ACQUIRING THE NECESSARY LANDS THEREFOR FOR SAID CITY, EACH OF SAID BONDS TO BE IN THE DENOMINATION OF ONE THOUSAND DOLLARS ($1,000.00), TO BE DATED MAY 1, 1960, MATURING FROM ONE (1) TO TWENTY-FIVE (25) YEARS FROM THE DATE THEREOF, THE FIRST ONE MILLION, THREE HUNDRED AND SIXTY-EIGHT THOUSAND DOLLARS ($1,368,000.00) WORTH OF SAID BONDS To BEAR INTEREST AT THE RATE OF FIVE PER CENT (5%) PER AMRJM, THE NEXT ONE HUNDRED AND FIFTY- TWO THOUSAND DOLLARS ($152,000.00) WORTH OF SAID BONDS TO BEAR INTEREST AT THE RATE OF THREE AND NINETY-HUNDREDTHS PER CENT (3.90%) PER ANNUM, THE NEXT ONE MILLION, SIXTY-FOUR THOUSAND DOLLARS ($1,064,000.00) WORTH OF SAID BONES TO BEAR INTEREST AT THE RATE OF THREE AND SEVENTY-FIVE-HUNDREDTHS PER CENT (3.75%) PER ANNUM, THE NEXT ONE MILLION, SIXTY-FOUR THOUSAND DOLLARS ($l,o64,000.00) WORTH OF SAID BONDS TO BEAR'MEREST AT THE RATE OF THREE AND SEVENTY-HUNDREDTHS PER CENT (3.70%) PER ANNUM, AND THE NEXT ONE HUNDRED AND FIFTY-TWO THOUSAND DOLLARS ($152,000.00) WORTH OF SAID BONUS TO BEAR INTEREST AT THE RATE OF ONE PER CENT (1%) PER ANNUM, SAID INTEREST BEING PAYABLE SEMI-AIRNUALLY, THE INTEREST TO BE EXPRESSED IN COUPON NOTES ATTACHED TO THE BONDS; DIRECTING THAT THE SAID BOND BE EXECUTED BY THE FACSIN[ILE SIGNA- TURE OF THE MAYOR, APPROVED AS TO FORM AND LEGALITY BY THE FAC- SIMILE SIGNATURE OF THE CITY ATTORNEY, AND ATTESTED MANUALLY BY THE CITY SECRETARY; PROVIDING FOR AN ADEQUATE TAX LEVY FOR THE PAYMENT OF THE INTEREST ON SAID BONDS AND TO CREATE A SINKING FUND FOR THE PAYMENT OF THE PRINCIPAL THEREOF AS THE SAME MATURES FROM TIME TO TIME; AND PROVIDING THAT THIS ORDINANCE SHALL BE IN FORCE AND EFFECT FROM AND AFTER THE DATE OF ITS PASSAGE. WHEREAS, on the 24th day of October, A. D. 1958, pursuant to the au- thority vested in said City by Section 19 of Chapter XXV of the Charter of the City of Fort Worth, adopted by the qualified voters within the limits of said City on the llth day of December, A. D. 1924, and the laws and Con- stitution of the State of Texas, the City Council of the City of Fort Worth, Texas, by an ordinance of that date, directed the submission to the quali- fied electors who own taxable property in the City of Fort Worth, Texas, and who have duly rendered the same for taxation, at an election to be held in said City on the 18th day of November, A. D. 1958, of the right, power and authority of the City Council of the City of Fort Worth, Texas, to issue negotiable coupon bands of the corporate government of said City in the pria- 3 r r � • � cipal sum of Twenty-two Million, Eight Hundred and Seventy-five Thousand Dollars ($22,875,000.00) for the purpose of making permanent city improve- ments by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improve- ments the straightening, widening, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor for said City; and, WHEREAS, in conformity with said ordinance, the Mayor Pro Tem of said City did make proclamation of said election and fixed the date thereof for the 18th day of November, A. D. 1958; and, WHEREAS, said election order and proclamation thereof were prepared and published in the manner and for the time prescribed in said ordinance; and, WHEREAS, on the 18th day of November, A. D. 1958, said election was held in the City of Fort Worth, Texas, at the respective polling places designated in the election order, at which said election the issuance of said bonds was submitted as a proposition to the qualified electors of said City who own taxable property in the City of Fort Worth, Texas, and who have duly rendered the same for taxation; and, WHEREAS, the official ballot on said occasion, in conformity with the ordinance of the City Council hereinabove mentioned and in accordance with the order of said election, in form and in substance reads as follows: OFFICIAL BALLOT I. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds In the principal sum of Four Hundred Thousand Dollars ($400,000.00) for the purpose of making permanent city improvements by constructing, building and equip- ping fire stations and improving and extending the city fire alarm system, and acquiring the necessary lands therefor, said 'bonds be- ing payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable vithin forty (40) years from the date thereof, bearing interest at a rate not to ex- ceed five per cent (5%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of $400,000.00 Fire Protection Bonds. AGAINST the Issuance of $400,000.00 Fire Protection Bonds. II. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of One Million, Five Hundred and Fifty Thousand Dollars ($1,550,000.00) for the purpose of making permanent city improvements by construct- ing, building and equipping additional incinerators for said City and acquiring the necessary lands therefor, said bonds being pay- able serially as may be determined by the City Council, so that the last maturing bonds shall-become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi- annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of $1,550,000.00 Incinerator Bonds. AGAINST the Issuance of $1,550,000.00 Incinerator Bonds. III. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of One Mil- lion, Five Hundred and Fifty Thousand Dollars ($1,550,000.00) for the purpose of making permanent city improvements by constructing and building improvements to the City Hall, said bonds being pay- able serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of $1,550,000.00 City Hall Improvement Bonds. AGAINST the Issuance of $1,550,000.00 City Hall Improvement Bonds. IV. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Twenty- two Million, Eight Hundred and Seventy-five Thousand Dollars ($22,- 875,000.00) for the purpose of making permanent city'improvements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widening, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquir- ing the necessary lands therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of $22,875,000.00 Street Improvement Bonds. 'AGAINST the Issuance of 122,875,000.00 Street Improvement Bonds. V. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Eight Million, Five Hundred Thousand Dollars ($8,500,000.00) for the purpose of making permanent city improvements by constructing, building and equipping a municipal auditorium and acquiring the necessary land therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi-annually, and levy a suf- ficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of $8,500,000.00 Municipal Auditorium Bonds. AGAINST the Issuance of $8,500,000.00 Municipal Auditorium Bonds. VI. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Eight Hun- dred and Fifty Thousand Dollars ($850,000.00) for the purpose of mak- ing permanent city improvements by purchasing, acquiring and improv- ing the playgrounds and recreation parks of said City, said bonds be- ing payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi- annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the ma- turity thereof? FOR the Issuance of $850,000.00 Playground and $eerration Park Bonds. AGAINST the Issuance of $850,000.00 Playground and Recreation Park Bonds. VII. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of One Million, Five Hundred Thousand Dollars ($1,500,000.00) for the purpose of making permanent city improvements by purchasing, acquiring and im- proving land and property for public parks in said City, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi- annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the ma- turity thereof? FOR the Issuance of $1,500,000.00 Park Bonds. AGAINST the Issuance of $1,500,000.00 Park Bonds. VIII. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Eight Hundred and Fifty Thousand Dollars ($850,000.00) for the purpose of making permanent city improvements by constructing, building, improving and equipping buildings for a municipal library, and acquiring the necessary lands therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall became payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi. annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of $850,000.00 Municipal Library Bonds. AGAINST the Issuance of $850,000.00 Municipal Library Bonds. IX. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Two Million, Seven Hundred and Fifty Thousand Dollars ($2,750,000.00) for the purpose of making permanent city improvements by construct- ing, building and equipping a police station building, and acquir- ing the necessary land therefor, said bonds being payable serially as may be determined by the City Council, so that the last matur- ing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the ma- turity thereof? FOR the Issuance of $2,750,000.00 Police Station Building Bonds. AGAINST the Issuance of $2,750,000.00 Police Station Building Bonds. X. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of One Million, Two Hundred and Fifty Thousand Dollars ($1,250,000.00) for the purpose of making permanent city improvements by con- structing, building and equipping a museum of Western arts, and acquiring the necessary land therefor, said bonds being payable serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, payable semi- annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of $1,250,000.00 Museum of Western Arts Bonds. AGAINST the Issuance of $1,250,000.00 Museum of Western Arts Bonds. XI. Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the princi al sum of TWO Hundred and Fifty Thousand Dollars ($250,000.00� for the purpose of making permanent city improvements by constructing, building and equipping garages for the storage and repair of City equipment, and acquiring the necessary lands therefor, said bonds being pay- able serially as may be determined by the City Council, so that the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) per annum from the date thereof, pay- able semi-annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of $250,000.00 Garage Bonds. AGAINST the Issuance of $250,000.00 Garage Bonds.; and, WHEREAS, in the election held in said City of Fort Worth, Texas, on the l8th day of November, A. D. 1958, on the question of the issuance of said Street Improvement Bonds hereinbefore mentioned, there was a majority of votes in favor of the issuance,of said bonds; and, WHEREAS, by virtue of said election, said City Council is vested with power and authority by and from the qualified electors who own taxable property in the City of Fort Worth, Texas, and who have duly rendered the same for taxation, to issue said Street Improvement Bonds for the purposes aforementioned and to make same valid and binding obligations of the cor- porate government of the City of Foot Worth., Texas; and, WHEREAS, the City Council, in accordance with the power vested in said governing body, did lawfully pass and adopt an ordinance on the 27th day of February, A. D. 1959, authorizing the issuance of negotiable cou- pon bonds of the government of the City of Fort Worth amounting to the principal sum of Three Million Dollars ($3,000,000.00); and, WHEREAS, all of the above described bonds were issued out of an au- thorized issue of Twenty-two Million, Eight Hundred and Seventy-five Thou- sand Dollars ($22,875,000.00) worth of said bonds, which bonds were au- thorized to be issued by the property taxpaying qualified voters of said City at an election held on the 18th day of November, A. D. 1958, and all of them being a part of and known as Series 94 and designated as "Street Improvement Bonds"; and, WHEREAS, it is deemed wise and expedient by the City Council of the City of Fort Worth, Texas, in the exercise of the discretion reposed in it by law, that Three Million, Eight Hundred Thousand Dollars ($3,800,000.00) worth of said bonds, in addition to the Three Million Dollars ($3,000,000.00) worth of said bonds heretofore issued and sold out of the authorized issue of Twenty-two Million, Eight Hundred and Seventy-five Thousand Dollars ($22,875,000.00), be issued in bonds at this time, said bonds to be issued being a part of Series 94 and designated as "Street Improvement Bonds"; NOW, THEREFORE,, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION I. That the municipal government of the City of Fort Worth, Texas, issue its corporate negotiable coupon bonds in the principal sum of Three Mil- lion, Eight Hundred Thousand Dollars ($3,800,000.00), this amount being in addition to the Three Million Dollars ($3,000,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 27th day of February, A. D. 1959; that the bonds above described were issued and sold out of an authorized issue of Twenty-two Million, Eight Hundred and Seventy-five Thousand Dollars ($22,875,000.00), authorized to be issued at a proper election held on the 18th day of November, A. D. 1958, rich bonds are known as Series 94, and designated as "Street Improvement Bonds"; that the bonds so to be issued shall be in the denomination of One Thousand Dollars ($1,000.00) each, dated May 1, 1960, the first One Million, Three Hundred and Sixty-eight Thousand Dollars ($1,368,000.00) worth of said bonds, maturing from 1961 to 1969, inclusive, to bear interest at the rate of five per cent (5%) per annum, the next One Hundred and Fifty- two Thousand Dollars ($152,000.00) worth of said bonds, maturing in 1970, to bear interest at the rate of three and ninety-hundredths per cent (3.90V per annum, the next One Million, Sixty-four Thousand Dollars ($1,064,000.00) worth of said bonds, maturing from 1971 to 19?7, inclusive,. to bear inter- est at the rate of three'and seventy-five-hundredths per cent (3.75%) per annum, the next One Million, Sixty-four Thousand Dollars ($1,064,000.00) worth of said bonds, maturing from 1978 to 1984, inclusive, to bear interest at the rate of three and seventy-hundredths per cent (3.70%) per annum, and the next One Hundred and Fifty-two Thousand Dollars ($152,000.00) worth of said bonds, maturing in 1985, to bear interest at the rate of one per cent (1%) per annum, payable semi-annually on the first day of November and May of each year respectively, both principal and interest of said bonds being payable at The Hanover Bank, in the Borough of Manhattan, City and State of New York, the semi-annual interest being evidenced by interest coupons attached thereto; that each of said bonds shall be executed for and on be- half of the City of Fort Worth, Texas, by the facsimile signature of the Mayor, approved as to form and legality by the facsimile signature of the City Attorney, and attested manually by the City Secretary, with the seal of the City thereon duly impressed or affixed, and the interest coupons shall be executed with the lithographed or printed facsimile signatures of the Mayor and City Secretary of the City of Fort Worth, Texas, and such facsimile signatures shall have the same effect as if manually placed on said bonds; that each of said bonds and coupons shall be negotiable and payable to bearer, and said bonds shall be numbered in the way and manner hereinafter set out, so that the last maturing bond shall become payable within tventy-five (25) years from the date thereof, and the bonds them- selves, thirty-eight hundred (3,800) in number, shall be numbered consecu- tively from three thousand and one (3,001) to six thousand, eight hundred (6,800), inclusive, and shall mature in the amount and manner hereinafter set out; and that said bonds shall be issued for the purpose of making permanent city improvements by constructing, improving and extending the streets, thoroughfares and storm severs of said City,-including in such permanent public improvements the ettaightening, widening, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor for said City*. That the general form of said bonds and the coupons thereto annexed and the interest added to said bonds shall be executed substantially in the following form: SECTION II. That the said bonds so to be issued by the City of Fort Worth, Texas, amounting to Three Million, Eight Hundred Thousand Dollars ($3,800,000.00), in addition to the sutra of Three Million Dollars ($3,000,000.00) worth of said bonds heretofore issued out of the said authorized issue of Twenty- two Million, Eight Hundred and Seventy-five Thousand Dollars ($22,875,000.00), shall be issued for the purpose of making permanent city improvements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widening, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands there- for for said City, and shall consist of thirty-eight hundred (3,8o0) bonds numbered from three thousand and one (3,001) to six thousand, eight hundred (6,800), inclusive, and the first One Million, Three Hundred and Sixty- eight Thousand Dollars ($1,368,000.00) worth of said bonds, maturing from 1961 to 1969, inclusive, shall bear interest at the rate of five per cent (5�) per annum, and the next One Hundred and Fifty-two Thousand Dollars ($152,000.00) worth of said bonds, maturing in 1970, shall bear interest at the rate of three and ninety-hundredths per cent (3.90%) per annum, and the next One Million, Sixty-four Thousand Dollars ($1,o64,000.o0) north of said bonds, maturing from 1971 to 1977, inclusive, shall bear interest at the rate of three and seventy-five-hundredths per cent (3.75%) per annum, and the next One Million, Sixty-four Thousand Dollars ($l,064,000.0o) worth of said bonds, maturing from 1978 to 1984, inclusive, shall bear interest at the rate of three and seventy-hundredths per cent (3.70%) per annum, and the next One Hundred and Fifty-two Thousand Dollars ($152,000.00) worth of said bonds, maturing in 1985, shall bear interest at the rate of one per cent (1%) per annum, payable semi-annually as aforesaid, all of which said thirty-eight hundred (3,800) bonds shall be known as Series 94 and shall be styled and designated as "Street Improvement .Bonds"; and that all of the said bonds, comprising the sum total of Three Million, Eight Hundred Thousand Dollars ($3,8o0;000.00),shall mature in numerical order in the manner and amounts as set out in the tabulated statement herewith attached, to wit: SECTION III. That the said bonds are hereby authorized to be sold to the best ad- vantage, but in no event shall same be sold for less than par, and the ac- crued interest to the time of delivery and the proceeds thereof to be placed in the treasury of the City of Fort Worth and utilized for the special purposes for -which they are created. SECTION IV. That for the purpose of paying the interest of said bonds, as veil as the various installments of principal, as the same shall respectively mature, there is hereby levied for the year 1960 and for each succeeding year thereafter so long as the same may be necessary, to provide for the interest and annual installments of principal of said bonds, on all property in the City of Fort North, Texas, liable to taxation, a straight ad valorem tax of 4.4799 cents on the one hundred dollar valuation of said property, or so much thereof as may be necessary, or in addition thereto as may be required, full allovance being made for delinquencies and costs of col- lection, and if at any time the amount of said tax shall not be sufficient to provide for the interest and annual installments of principal, it shall be the duty of the City Council to so increase said rate that an amount shall be realized from said tax sufficient to meet the requirements afore- said for interest and annual installments of principal of said bonds; and it is hereby promised and agreed that such increase of tax shall be made, if required for the purposes named, as often as it may be necessary. There shall be assessed and collected annually a sufficient sum to pay the inter- est on such bonds and to create a sinking fund of at least tvo percentum (2%) of the principal debt herein authorized. SECTION V. That it shall be the duty of the City Council of the City of Fort Worth, Texas, and its successors, and of the government of the City of Fort Worth, in levying taxes for general purposes for the said City for the year 1960, and for every successive year during the life of said bonded indebtedness or any part thereof, to include in such levy the special tax of 4.4799 cents on the one hundred dollar property valuation (or so much thereof as may be requisite and necessary, or in addition thereto as may be required), provided for in the next preceding section of this ordi- nance, and said special tax shall on no account whatever be displaced therefrom. SECTION VI. That the special tax hereinbefore provided for, when collected, shall be placed and kept in a separate fund and shall be devoted to the payment of the interest and the extinguishment of the principal of all and singu- lar the bonds hereinabove mentioned as same mature from time to time, and shall not be used, applied or diverted to any other purpose or object what- soever; and the funds derived from said tax shall be held and listed as a separate account on the books of said City and the proceeds held and kept by the City Treasurer of said City as a separate and distinct account and so specified as such on his books. SECTION VII. That as soon as convenient after said bonds shall have been prepared and signed in the manner prescribed by the ordinance, they shall be sub- mitted to the Attorney General of the State of Texas, together with a cer- tified copy of this ordinance and a statement of the total bonded indebted- ness of the City of Fort Worth, including the bonds herein and hereby au- thorized and the assessed value of the taxable property in said City, for his approval, and none of said bonds shall be negotiated, sold or trans- ferred'until the same shall have received the official sanction of the said Attorney General as prescribed by law, and thereafter said bonds shall be placed with the State Comptroller of Public Accounts for registration. SECTION VIII. That the City Treasurer of the City of Fort Worth, or other lawful custodian of such fund, during the months of October and April of each and every year during the life of said bonds or part thereof, and not later than the 25th day of each of said bonds, shall transmit sufficient money out of the interest funds hereinbefore created for the payment of the semi- annual interest accruing on said bonds to The Hanover Bank, in the Borough of Manhattan, City and State of New York, and likewise proper remittance shall be made in due course to provide for the payment of the principal of any of said bonds in advance of the maturity of same. SECTION 33% That this ordinance shall take effect and be in full force and effect from and after the date of its passage, and it is so ordained. Mayor of the City of Fort Worth, Texas APT PS' C ty Gicretary of the City of ort Worth, Texas AFPROVED AS TO FORM AND LEGALITY: City Attorney of the City of Fort Worth, Texas CITY OF FORT WORTH PRINCIPAL MATURITIES $3,800,000.00 STREET IMPROVEMENT BONDS DATED MAY 1., 1960 117E MAY 1ST PRINCIPAL MATURING 1961 $152,000.00 1962 152,000.00 1963 152,000.00 1964 152,000.00 1965 152,000.00 1966 152,000.00 1961 152,000.00 1968 152,000.00 1969 152,000.00 1970 152,000.00 1971 152,000.00 1972 152,000.00 1973 152,000.00 1974 152,000.00 1975 152,000.00 1976 152,000.00 1977 152,000.00 1978 152,000.00 1979 152.1000-00 1980 152,000.00 1981 152,000.00 1982 152,000.00 1983 152,000.00 1984 152,000.00 1985 152,000.00 NO. UNITED STATES $ OF AMERICA STATE OF TEXAS, COUNTY OF TARRANT SERIES 94 C I T Y O F F 0 R T W 0 R T H --00000-- Street Improvement Bond of the City of Fort Worth issued for the purpose of making permanent city improvements by constructing, improving and extending the streets, thoroughfares and storm severs of said City, including in such permanent public improvements the straighten- ing, widening, paving, grade separation, lighting and drain- age of said streets and thoroughfares, and acquiring the necessary lands therefor. KNOW ALL MEN BY THESE PRESENTS: That the City of Fort Worth, a municipal corporation duly created under the laws of the State of Texas, hereby acknowledges itself to owe, and for value received promises to pay to bearer, ONE THOUSAND DOLLARS ($1,000.00) in lawful money of the United States of America, on the first day of May, A. D. 19 , together with interest thereon at the rate of percentum ( %) per annum, payable semi-annually, the first inter- est payment date being November 1, 1960, and each year thereafter on May 1 and November 1, on presentation and surrender of the annexed interest coupons as they severally fall due. Both the principal and interest of this bond are payable at the office of The Hanover Bank, in the Borough of Manhattan, City and State of New York, and for the due and punctual payment of this bond at the maturity thereof, and the interest thereon when it falls due, the full faith, credit and resources of the City of Fort Worth are hereby irrevocably pledged. This bond is one of a series of thirty-eight hundred (3,800) bonds numbered consecutively from three thousand and one (3,001) to six thou- sand, eight hundred (6,800), inclusive, in the denomination of One Thousand Dollars ($1,000.00) each, amounting in the aggregate to the sum of Three Million, Eight Hundred Thousand Dollars ($3,800,000.00), issued for the purpose of making permanent city improvements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, including in such permanent public improvements the straightening, widen- ing, paving, grade separation, lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor, under and by virtue of the Constitution and laws of the State of Texas, the Charter of the City of Fort Worth, and an ordinance lawfully passed and adopted by the City Council of the City of Fort Worth, pursuant to valid authority from the property taxpaying qualified voters of said City, at a proper and legal election held on the 18th day of November, A. D. 1958. It is hereby further expressly represented, recited and covenanted, to and with each and every holder of said bonds or any one of theca, that all acts, conditions and things required by the Constitution and laws of the State of Texas, and by the Charter and Ordinances of the City of Fort Worth, precedent to and in the issuance of this bond, have been done, have _happened and have been performed in proper and lawful time, form and man- ner as prescribed by law, so as to make this bond a legal, binding and valid obligation of the City of Fort Worth, and that provision has been made for the levy and collection of a direct annual tax on all taxable property in the City of Fort Worth, and that such tax has been levied in a sufficient amount for the payment of the principal and interest of this bond at the respective maturity dates thereof, and that the total indebted- ness of said City, including this bond and the issue of which it is a component part, does not exceed any constitutional or statutory limitation. IN TESTIMONY WHEREOF, the City of Fort Worth, in the State of Texas, has executed this bond by causing it to be signed by the facsimile signa- ture of the Mayor of the City and attested manually by the City Secretary and approved as to form and legality by the facsimile signature of the City Attorney, with the seal of the City thereunto duly affixed or impressed, and has caused the annexed interest coupons to be executed 'With the fac- simile signatures of the Mayor and City Secretary, and has caused this bond to be_dated the first day of May, A. D. ig60. CITY OF FORT WORTH, TEXAS BY Mower ATTEST: City Secretary (FORM OF COUPON NOTE) The City of Fort Worth, in the State of Texas, promises to pay to Bearer ($ ) on the 1st day of , 19 , at The Hanover Bank, in the Borough of Manhattan, City and State of New York, for interest due that day on its Street Improvembnt Bond, Series 94, dated May 1, 1960, and numbered CITY OF FORT WORTH, TEXAS BY ATTEST: City Secretary (CERTIFICATE OF COMPTROLLER) OFFICE OF COMPTROLLER, STATE OF TEXAS. I do hereby certify that there is on file and of record in my office a certificate of the Attorney General of the State of Texas to the effect that this bond has been examined by him as required by law, and that he finds it has been issued in conformity with the Constitution and laws of the State of Texas, and that it is a valid and binding obligation upon said City of Fort Worth, Texas, and said bond has this day been registered by me. WITNESS my hand .and seal of office, at Austin, Texas, this the day of , A. D. 19 Comptroller of Public Accounts of the State of Texas (CERTIFICATE OF CITY ATTORNEY) The within bond is hereby approved as to form and legality. City Attorney