HomeMy WebLinkAboutOrdinance 7762 CITY OF DALLAB ORDI19'A1+ I NO.
CITY of Pon wom oiwImrz two. '] 7 b Z
(Series 1970, XwWbers 6972 and 6973)
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 6972 and 6973 of Dallas-Fort Worth Regional Airport Joint
Revenue Bonds, Series 1970 and reeolving other matters relating to
the subject.
WHEREAS, the Citied of Dallas and Fort Worth by ordinance
passed concurrently on April-li, 1970, authorised the issuance of
and sold their Dallas-Fort Worth Regional Airport Joint Revenue
Bonds, Series 1970, in the aggregate principal amount of $50,000,000.0
dated April 1, 1970; and
WHEREAS, two bonds of the above described Series of hands,
-to-wit:
Bonds Numbered 6972 and 6973 in the denomination of
$5,000.00 each, and bearing interest at the rate of
7.10% per annum, payable semiannually on each May 1
and November 1 (Interest Coupon No. 10 and subsequent
coupons appertaining thereto unpaid) , and maturing
November 1, 1999
are outstanding and unpaidt and
WHEREAS, an affidavit in due form verified by Donald Meeker,
affiant, to the effect that Dallas-port Worth Regional Airport
Joint Revenue Bonds, Series 1970, NUmbers,6972 and 6973 in the
aggregate amount of $10,000.00, were destroyed by fire in the
residence of affiant, the owner of such bonds, on February 2,
1975, has boon received and is on file in the offices of the
Director of Finance of the Dallas-Port Worth Regional Airport, and
such affidavit has been accepted by the City Councils of Dallas
and Fort Worth as sufficient evidence that the above described
securities have been destroyed, within the meaninq of Article 715a
a
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 10
coming due on May 1, 1975,. and subsequent coupons were attached to saj.
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 1963, 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, provided that such
replacement bonds may be issued only upon indemnification satisfact-
ory 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. 843886 dated April 22, 1976,
and executed by Donald Meeker, a# principal and by The North River
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 Securities Bond is acceptable to
the City Councils of Dallas and Fort Worth 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.
843886 is attached hereto as a permanent part hereof.
NOW, THEREFORE, BE IT ORZAIMM BY THE CITY COUNCIL OF THE
CITY OF DALLAS, TEEXAS:
NOW, THEREFORE, BE I'T ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXASs
Section 1. That there is hereby authorized to be issued
replacement bonds to replace Bonds Numbered 6972 and 6973 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 6972 and 6973 and the interest
coupons appertaining thereto, except that such replacement bonds
and the interest coupons appertaining thereto shall be signed
manually, or in facsimile, as provided by law, by the proper offi-
cials holding office at the time of the issuance, and that no
interest coupon shall mature prior to May 1, 1975, and that only
Interest Coupons No. 10 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 exe-
cuted, 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 Hoard acting throuqh 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 ,replacement bonds shall be delivered
to the Comptroller of Public Accounts of the State of Texas for
registration. The replacement 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 awmer as the original bonds were
registered, giving then the "me registration number as the ori-
ginal bonds, except that such number shall be preceded by the
letter -R-. The Comptroller shall date his registration certifi-
cate 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, authorising the Series of bonds of which
said destroyed bonds were a p+►rt 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 ordin-
ance by the City Councils of Dallas and Fort North 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 Forth, or the Dallas-Fort Worth Regional
Airport and shall be borne entirely by and be the sole liability of
Donald Meeker, the owner of said bbove described destroyed securi-
ties who has requested the issuance of replacement securities as
provided herein.
Section 8. This ordinance 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.
r
PASSED . 1976.
City of Fort Korth, Texas
(Seal)
ATTEST:
1
City Secretary
City of Fort North, Texas
•APPROVED AS TO FORM AND LEGALITY:
City Attor y
City of Fo t orth, Texaa