HomeMy WebLinkAboutOrdinance 1638 AN ORDINAM AMENDING =IONS I AND 8 OF
ORDINANCE I" . 162S, AUD DOPT Bf TtIW UITY
COUDK)IL ON TRW 2&RD DA,Y 0? OCTOBER, 1929, BY
PROVIDING '11'1 0 "3H W0111RAL 11ANOV611 B4OK AND `&HM I"
Ca?NFA Xki�Iv YORK GrVY ,,sH LL 'M,' T ?OsI TORY,
INSTEAD OF 'I HANOVER NATIONAL BA),K, KS STIPU-
L, I D IN SAID 0111M,01013.
a 1121 UMS, a rd.in aaee No. 1628 as ovirfe;s that the bondra
authorized to be issued by said, Or'dly.aaance, together with the
interest on said bonds, are payable at the office of the
Hanover National Besot., 'tew York wrk Uit , arid
'SI
VVIM , said bank haa.aa ceased to o f tt and its af-
fairs have been taak aaa over by tfae Central Haaaae er Baa and °-rus
Company,
NOW, TMML01 a"OH14e'
BL" rP daa&INED BY `a HS CITY UOUNOIL OF Th'',d CITY
FORT I t "a"d
Mamt Sections I and 8 of Cvdinanes Nor. 1828, passed
aat a regular mating of t",ae t1, Courjjaajj of the City of ,j�,ort
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MAY
Worth, Texas, on Wednesday the 23rd day of October, A. 1). 1920,
be and the saime are hereby amendod and, after being, so amended,
shall. road as followa:
dection 1
That pw%suant to beet .on 19 of Gj%gptar AXV of the
Matter of 'the CIty of Port worth, adopted 1;y Chas qaalified
voters within the corporate limits of said City on the 11th
d,aY Of DeOembar, A. D. 1924, and tl3t) laws and oonstitution of
the ,Aato of Texas, and, pi�'irsuan't; to a vote of the resident pro-
;aerty tax aying
,,,, voterii of the Glity, of Fort Worth at an election
hoist mild HEy for sudh purpoze' on 'the 94th' day of bovember,
A. D. 1925, that the mmilcipal overnment of' tho Qlty of Port
4orth Issue its corporate nodot fable coupon "bonds in the prin-
cipal sum, of Two H%wwdred and7ollfty, Thousand w1lars (t 60,000.00),
out of an authorized isarte at said electlon of One, Million 100 ur
liundied Viousand W11a,rs 1,400,0,00.00) , and wlxidla authorized
issue 1,0 'known aa Sle and clesignated as "Main Arterial
Thoroughfare Bonds", and the 'bonds so to be Issued shall be in
the denominstion of One 111iousand ioollars (;1 000.00) each,
dated NovetAbOr Int, 1929, bearlM interest at the rate of
four and three quarters per cant �40' r
pox, &Im=, Payable genii-
annually on the 1st day of Hatay and Rovoinber of eaoh ;hoar re3-
pootively, bo,th. pinoipal an4 interest of said bonds bell
payable at the olon'tral Eanover Baa any Trust com1pany In the
Ulty of Vow York, tate of New 1fork, the semi-annual interest
t*lng evidexioad by Interest eoupons atte,ehed, thereto all of said
to be ex9outod for .ad ou' bo)aalf of tho City ok "Port lftort)l
, , t"" 'T , ittasted by, its City 800'r6tir
I" "'nereo, , , 1�1 , V'batliver,
with the seal of the 01ty th ez%eon duly ivWrdsaod, but the in-
terest cou;)ons to be exaeuted with the litho paphod faesimile
algzt4ture of the Uayor and (131;,y Secratary-Trootaurer of the Qit
of Fort wvorth; each of said bonds and 004 ons shall be negotlaae
and payable to Lvarer, and said bands gth,21 lie ntunbered in thA way
and manner hereinafter set out maturing five (5, Years from
the date tbareof and azmuallf� iheriaiter unth Re list maturing
bond shall become P I hit forty (140) years from, the date,
thereof, and tho bola4a tea azzel°vsz, lfwo H=armed and rift (250)
in taudbar, shall to zvum"tered eonseoutively frogs one (1) to
two hundred and fifty (250�) inoluelve, axia shall inatufre 141m, the
amounta and ranter bareinafter set out. 1,sald bonds shall be
used for be purpose of m6king Parjaranent, Improvements by
oonstructing, Improving a=l. extenti,ing a now main artarial street
and thoroughfare, vtmning narth and south, sm4 a new main arterial
street and thoroiaghfare extandIng east and west thrt)ugh said
city.
That tbe peners
I form of sail, bonds and t'he coupons
thereto anxlel"4 and"the inter,ast added to said bonds 6hall be
exectiLed siibstantielly In the following fora:
,,,,
Section Vill
That the City eore°tary-"Treasiu er of t1lie kjity of
Fort worth, or other lairful ou,atodia,n of such fund, during tho
months of April and October of esah and every, erar during. the
life of said bands ar part thare,ef" and not �ater then the Wttr
day,of each of zald :iont rs, shall tranallait suffiolent money out
of the interest fands hers ribofore cl*o tee, "or the °mi nt of
the nimi-annual Interest aeoru n Ola said bonds, to t1is Central
hen a er Bank and Tinist Coompatr y, the wit ` of New fork, State of
1tii6n York, and likewise proper remittdrtee aUall de made in du
Bourse to provide for the Pa m-exit; of tfre ,principal of any of
said bonds in advance o.f t uo Maturity of tare.
rrii
'1%,Is Ord'inauce 8-hall take etfoot, and be in foree Prom
and after the date of its passage, and it is so owned.
APPROVED Ai TO P0104:
-Ly Atforiley
William 13r.Yee, AU.yior, presIdIng at said meeting,
stab fitted t1w motion to adopt said ordinimee em d all of the
couzieil.,man, ine.1tuling the mayor, voted "Aye" thereon and none
voted "No", Whereupon the motion to wdopt bb e ordinance was
declared to 'be unanimously passed and adopted.
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