HomeMy WebLinkAboutOrdinance 6433CITY OF DALLAS ORDINANCE
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No. {
CITY OF 1' WORTH ORDINANCE
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Now, THEmwoRE, BE IT ORDAnqim By THE Crry CouNaL oF
THE Crry oF DALLAs, T)&xAs:
Now, THmFoRE, BF, IT ORDAnaw By THF, Crry CouNciL oF
THE Crry
• F•RT WoRTH, TExAs:
ARTICLE I
7-WIMN AND RATmcAmN
SEmoN 1.1. Short Title. This Ordinance may be cited by the
ihort title, "Third Supplemental Regional Airport Concurrent
Bond Ordinance."
SwnoN 1.2. Adoption of Preambles. All of the declarations and
findings contained in the preambles of this Ordinance are made-.9-
part hereof and shall be fully effective as a part of the ordame?
zubject matter of this Ordinance.
passed respectively, • the Cities of Dallas and Fort Worth on
r, 11
November 11 and November 12, 1968, are made a part hereof
and shall be as fully effective as part of the subject matter of this
M11
SEMON 2.2. Additional Definitions. In addition to the definitio,ry
set forth in the said 1968 Regional Airport Concurrent Bond Ord[I
nance the terms defined in this Section for all purposes of tl
tj
Ordinance and of any ordinance amendatory hereof, supplemen ,
pp� I
or relating hereto, and of any instruments or documents a e
taining hereto, —except where the context • • licatlkw-&
Lire- shall have
fled as follows, to-wit:
"1968 ORDINANCE" shall mean and refer to the 1968 Re-
gional Airport Concurrent Bond Ordinance passed by the City
Councils of the Cities, respectively, on November 11, 1968 and
November 12, 1968.
61
SEcnoN 3.2. Date, Denomination and Maturities. The Series
1971 •
tion of $5,000 each, shall consist of 15,000 bonds numbered in
direct numerical order from 1 through 15,000, and shall mature
and become due and payable on November 1 in the years and in
the amounts as follows:
I Ile,=
Amounts
Years
Amounts
1979
$ 15001OW
1• 8•
$ 1,5W,000
1• 80
750,000
1•85
1,750,000
1•81
11000,000
1986
1,750,000
1•82
1,250,000
—
1•83
11500,000
2000
65,000,41,-*
SEmoN 3.3. Interest Rate, Agents.
A. The Series 1971 Bonds shall bear interest from their date to
their stated maturities or earlier redemption at the following
rates:
such interest to be evidenced by coupons payable on November 1,
1971, and semi-gggually thereafter on each Mgy 1 and Nove-ulter 1.
B. Both the principal and interest of the Series 1971 Bonds shall
be payable to bearer in lawful money of the United States of
America without deduction for exchange or collection charges at
the principal office of The First National Bank of Fort Worth,
Ir"11TAO=f 11
Rl
SEMON 3.5. Forms. The form of the Series 1971 Bonds, includ-
ing the form of Registration 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
to the bonds, shall be respectively substantially as follows, to-wit:
lmi! i
United States of America
State of Texas
Counties of Dallas and Tarrant
DALLAS-FORT WORTH REGIONAL AIRPORT
Joint Revenue Bond
Series 1971
No. $5,000
a
MWIt DWWIIIMAMNLIJI-IMi ..�
4% if redeemed on or prior to April 1, 1984;
30/c' if redeemed thereafter and on or prior to April 1, 1987;
redeemed thereafter and on or prior to April 1, 1989;
redeemed thereafter and on or prior to April 1, 1991;
and no premium if redeemed thereafter
19
This bond is one of a duly authorized series of bonds dated
March 1, 1971, of like tenor and effect, except as to number,
interest rate, maturity and right of redemption, numbered from 1
through 15,000 of the denomination of $5,000 each, aggregating
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event of default thereunder, and the rights and priorities of the
holders of said bonds, to all the provisions of which the holder
hereof by the acceptance of this bond assents and agrees.
As provided in the 1968 Ordinance, the obligations of the Cities
to pay money hereon out of Pledged Revenues are joint, and not
several, and except as otherwise provided therein no claim, de-
mand, suit or judgment shall ever be asserted, entered or collected
against or from one City without the other and no individual
liabili &"w.-,,ver exceed in the case of Dallas 7FI11th of the total
amount thereof, and in the case of Fort Worth 4/11th of the total
amount thereof, and, except as in the 1968 Ordinance otherwise
provided, such sums shall be payable and collectible solely from
the funds in which Pledged Revenues shall from time to time be
tin deposit.
"Kil
iol
m
City Auditor, City of Dallas, Texas
Mayor, City of Fort Worth, Texas
City Secretary, City of Fort Worth,
Texas
(FORM OF COUPON)
NO. ...... .... -- $. . ...... .....
IMAM
"I'll, ... "It 19....
im
Mayor, City of Dallas, Texas
Mayor, City of Fort -Worth, -Texas
31m�E[�Ef9 i
ELL
=;•
NOTTIN-OT170
Comptroller of Public Accounts 1w
the State of Texas
ARTICLE t
a ... ' TU-)NSMX
17
Rammunm
A. The Sale Of The Series 19771 Bonds. The Series 1971 Bonds
are hereby sold in accordance with law and shall be delivered to the
ARTICLE V
Fund. Ent
SEmoN 5.2. Construction
Proceeds in SectiOn 5.1-, all
deposited Bonds shall be promptly upon
the credit of the Construction Fund • the moneys within said
Kil
Fund shaH be used solely for the PurPose of defraying a part of
the Costs of the Project in accordance i• Ordinance.
a •
•. t t i t ! � * i t
91
SEMON 6.3. Interest and Sinking Fund. In addition to all other
amounts required by the 1968 Ordinance, the 1970 Ordinance and
the 1970A Ordinance, so long as any of the Series 1971 Bonds re-
main outstandingand un(t �dthe �Boa�rdsha�H, �Wwtr_ *c, f
the Ist day of each month, from the Operating Revenue and Ex-
•ense Fund to the Interest and Sinking Fund, after taking into
account unexpected investment eartungs on de_vAat
and Sinking Fund,
(1) beginning on October 1, 1973, an amount necessary to
provide 1/6th of the amount of interest to become due on
the Series 1971 Bonds on the next succeeding interest pay-
ment date thereof, provided, however, that no transfers shall
be required on such dates to the extent money has been pro-
vided from future issues of Completion Bonds to pay the in-
terest then becoming due on the Series 1971 Bonds;
(2) beginning on October 1, 1978, an amount necessary to
provide in twelve equal installments the amount of principal
of the Series 1971 Bonds maturing on November 1 following
each of the twelve month periods ending September 30, 1979,
through September 30,1986; and
(3) beginning on October 1, 1986, and on the 1st day of
each month thereafter through September 1. 2000, for each
twelve month period ending on Se-ptember '30, 1/12 of the
amounts indicated as follows:
1•87 __ ....... ....... ....... $ 2,250,000
1988 .... ___ ... 11 ... ...... 2,250,000
1989 ...... ........ .......... .... 2,250,000
1990 .................. ___ __ 2,250,000
1991 ......... ............. 2,000,000
1992 ...... ...... __ ... ..... .... 2,500,000
1993 ............. ...... ............... 2,7w,"
1••4 ................. .......... - ..... 3, 000
1995
1996 .... 3,000,000
1997
1998 ....... ... 8,000,000
1999 ........ 9,750,000
2000 _ ....... ............ ...... ...... 18,7WOOO
The sinking fund payments required by this sub-paragraph
(3) may be used to purchase Series 1971 Bonds as permitted
in Section 7.4 of the 1968 Ordinance, and to the extent not so
used, shall be used to redeem the Series 1971 Bonds on No-
vember 1, 1987, and on each November 1, thereafter at the
principal amount thereof and accrued interest to date of re-
demption without premium. If it shall be determined that the
anmiial transfers to the Interest and Sinking Fund required •
this sub-paragraph (3) will produce a surplus in the Interest
and Sinliing Fund at maturity of the Series 1971 Bonds, the
annual sinking fund payments required by this sub-paragraph
(3) on account of the Series 1971 Bonds may be reduced in
approximately equal amounts.
SEMON 6.4. The Director of Finance shall make transfers of
funds on deposit in the Interest and Sftiking Fund for payment ol
the principal of and interest on the Series 1971 Bonds to The First
National Bank of Fort Worth, Fort Worth, Texas, on behalf of
the Paying Agents at least (5) days prior to the due dates and
redemption dates.
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Series of Bonds as such adjusted yields are computed by Part 13
41 the Temporary Income Tax Regulations issued November 12,
1970, under the Tax Reform Act of 1969.
SEmoN J of Covenants. The Board, the officers,
employees and agents am herebi directed to
This Ordinance may be amended by concurrent ordinances
adopted by the City Councils, in the same manner as provided in
the 1968 Ordinance for the amendment of the 1968 Ordinance.
SEmoN 9.2. Severability. If any Section, paragraph, clause or
provision of this Ordinance shall for any reason be held to be in-
valid or unenforceable, the invalidity or unenforceability of such
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SwnoN 9.3. Repealer. All Orders, resOlutiOns and Ordnances' or
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thef, incOmistent herevnth are hereby repealed to
part.
extent of any such inconsistency.
(SPAL)
Ed
Am" AS Form:
City Attorney, City of Dallas,
Texas
Passed February 10, 1971 (
City of Fort Worth, Tex—as
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(SEAL)
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M-Itimm- T.-MINIM-IMMUNIMP.Ml - 1 41
mumm
al of the City of Fort
,1971.
City Secretary,
of Fort Worth, Texas