HomeMy WebLinkAboutOrdinance 2140 F o
N ORDINANUS PROVIDING FOR THE 1!j,%1AN,0Z OF N 0-
TIAEL COUPON BUNDS OF THA WTV214;�U CF THE CITY
OF FO UT "'1iI"RTH, *I"ZIAS, Q09frING TO THS rUIV0 1'IA
SUM Cry C41E 1,4104D ?, FlITi;"illlt 'T THOUSAND DaLLAIRW
01500000.00)'+, A10 r P IITm 0 CII'I AS OFAIIS,71 AND
=910fietrD AS *1S91TJ4tY STR32 SYSTMV AKU DTI* ICI
POSS, ITT 1UPROVTN I,'��� III7T�`wI VIII
SANITARY SEWER S "row "A0 S `a E DISPOSAL PLA0111`
III' SAID CITY, SaCH 0 SAID IZNDS TC 13F, IN TH17, DE-
11MMATION ONE TII,IICaIAND I ULLARS 1,T4III,CC)
TO SE DATM JI T 1 1942, I T(5a N Fl W11 ONE (1).
TO TWENTY-FT""rIT (255 FROU THE+ DATE TM l ',
THE F1f13T FIFTY-TIM °MIOUSAND I411ARS (052,000,00)
140TH OIL SAID WIM)I TO FM/ifs AT RATE
OF TWO AND THRE3 1UNTHT PER t""ITT (2-3/0 PEM
TAT BZD4G FATA "O d M —AIRMALL 0 THE INT12WST TO
Dd 1001MBSEED 'IN CIA% NOTSa ATTACWED TO
BONDS DIR07TING THAT THE SiM I 6 IIT Ur
BY THE I TOR AND CITY SECTIETk9T; PROVIDING TCTI ITT'
ADEQUATI TAX T FAIL TIRO PAYUBOT 00 THE INIT T
ON SAID PONDS AND TO CREATE 4 SINKINGFUND FOR
PAY MM OF U17% Ki3NCIP4U, TIIITITMTW M IR4 III
lulpil-
ITRIS FIOII TINAM TO`T ;.MR) Ii'MVIT ZNG THAT THIS
ORDLUMS SHALL TMl IN FCM03 AND HYPNOT' FOOT AND
AFTER THE DATE OF ITS PASSAUS.
MHUREAS, on the 12th day of February, A. D. 1941, pursuant to the
authority vested in said City by Met n 19 of Chapter XXV of the Charter
of the City of Fort Virth, addptsd by the qualified votere within the
limits of said City on the 11th day of December, A. D. 1924, and the laws
and Constitution of the State of Texas, the City Council of the City of
Fort "forth., Texas, by an ordirmnee of that date, directed the submission
to the qualified electors who own taxzbla,roporty in the City of Fort
Worth, Texas, and who have duly rendered the awne for taxation, at an else-
tiwn to be held .n said Ci
Dollars for the purposse of iawprovUGR, extending and enlarg-
ing the sanitary sewer ay'stex, as sawage disposal; plant of said City; and,
MM US, In conformity with said ordinance, the Mwyor of said
City did make proclamation of acid election and fixed the data thereof
for the 4th day of March, A. D. 11141; and,
'91,M),W, said election order and proclawtion thereof were pre-
pared and published in the =nnaw und for the Beale prescribed in said or-
dinance, and,
MMINAS, on the 4th day of IfArch, A. D. 1941, said election was
held in the City of Fort, "North, Doxas, &t, the respective polling places
desi4puLted in the election order, at whieh said election the issuwwe of
said bonds was sixbmitted, aa a'prol,,*sition to the q!lalified electors of
said City vdw own taxable ivoperty in tho City of Fort Worth, Texas, and
who have duly rendered the swee for taxation; wiA,
WHEMM, t1te official ba1lot on said occasion, in conformity with
the ordinance of the City. Council harairvabove mentioned and in accordance
with the order of said elootion, in fom wkid in substance reads as follows:
OFFICIAL BAUM
1.
(hall tho City of Fort Worth, Texas, through its City Council,
iowap, iter negotiable coupon bond's in they priprolpsl sum of One J'allion,
Two Hundred and Fifty Thous:and D6Uars for the purpase
of establishing., equipping, extoziding and improving municipal airports
and landing fields for airplanes, aircraft and other, aerial machines,
and acquiring the necessary, lands and property therefor, said bonds be-
ing payable sorl-ally as Yiay b-- doterziiwd hy the Gsty Council, so that
the last maturing bonds shall become payable within forty (40) years
from the date thereof, bearing intierest at a ratan not to exceed four
per cent (4%) per annum from the dtite thereof, pAyable smai-annually,
and levy a'sufficient tax to pay the interest on said bonds and create
a sinking fund sufficient, to redeem said t,)*n4a at the maturity thereof?
FOR the Issuance of Airport Bomis.
WJUNST the Issuance of lUrl,,aort Sonds.
Shall the City of Foil, otth r "Seer , thremm,h its City Council,
issue its negotiable coupon tongs iam the principal sum of One Million,
One Hundred and l elve Thoummd Dollars for the purpose
of constructing, improving and extending the'streets, thoroughfares and
storm sewers of said City, inclmurUng in suah,poinamont irprovementa the
straightening, widening, paving, grade separation, lighting and drainage
of said struts and thoroughfares, said bonds being payable serially as
may be determined by the City CounoU so that the last maturing bonds
shall beco pay°sble within forty (Z;5 years from the date thereof,
bearing interest ate a rate not, o oaaeed four par sent (4%) p ''
from the date thereof, payable s mally and levy a;ti *whaent tax
to pay the i terost on said bmaam;da wad create a sinking fund sufficient
to redeem said, bonds at t mo raturity thereof?'
FOR the Issuance of Street L�provment Bonds.
AGAINST the lammme of Street lmaproseament Bonds,
111.
Shall the pity of Fort Worth, Texas, thro#& its City Council,
issue its negotiable coupon bonds in time principal mm of;'Three Hundred'
and Twenty 'T'housand Sollars (V320,000.00 for the purpose of construct-
ing, building and equippi tg additional incinerators for said g ity and
acquiring the necosaary lande and site* therefor, sao i bonds bed; pay-
able serially as may be datern4nsd by the City ounoi e, as that ; last
maturing bonds shall become payablo within forty (4 k,oars f 't
date thereof, beam interest at a ,rate not to �e� *mr per cent
(4%) per a um from the date timraof, P8 ahle p��and l a-
sufficient sufficient to to pay the Interest on said bon4a oreate Oinking
fund sufficient to redeems said bonds at the mater°ltd ierommf
FOR the lrstuaamos of Incinerator Bands.
aiSf the Issuance of Lneinerator ponds. '
Shall the City of Fort Wiarth, Togas, throws its city Council"
issue its nsg�otiable eomapon bonds n t1,16 principal,' t of One klusdr ah'a'
Sixty ThOUNAnd Dollars (t160,000.00) for time, purpos `of building, enlarg-
Ing and improving the garages amid repair shops of s. ,ity and acquir-
ing the necessary l mde and site therefor, said bon "being payable
seriu,aal.ly as mmos be detazalaod by the 01ty 00'ma il.,_so that the last ma-
turing bonds'shall become payable within forty O) s from the date
thereof", bearing interest at a rate nab to mweed four per cent (4%) per
mum frm the m ,to tNsr `f, ;payable s i-aa° ually, and levy a sufficient
tamer, to ` the iemte e,^at; on swirl bould.s mat create a sinkir4g fund sufficient;
to re em said ands at tite maturity thrsreof?
FOR the Issuanft of' damragme snmmi Relmir Shop Bonds,
AGAINST U10 lssaaa e of Cka-a�ae and :gepatir Shop Bonds.
Saaall the City of Fert lbrtb, Taaaas, through its City Council,
Issue its negotiable coupoaa boars in the ar0cipal sum of one Hundred and
fifty-eight Thousand Dollars ($158,000.4 for the purpose of improving,
Mending and enlarging the sanitary tower aystsan and sewage disposal
plant of said City, said bonds being payable serially as may be determin-
ed by the City Council, so that the last maturing bonds shall. become pay-
able within forty (40) yowre from the date 'thereof, bearing interest at
a We not to exceed four per cent (4%) 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 fined sufficient to rodeam said bonds at
the maturity thereof?
FOR the Issuance of Sanitary Sewer System and Sewa;,ae
Diaposal Plant wads
AGAINST the la-ausnce of Sanitary Sewer System and Sewage
Disposal Plant Bonds.;
and,
MUSK, in the election hold la said City of Fort Worth, Texas,
on the Ranh day of March, A. D. 1941, on the question of the issuance ce of
said bonds hereinbefore man ioned, there was a ars zoority of votes in favor
of the issuance of said bonds; and,
MUCUS, by virtue of said election, said City Council is vneted
with power and authority by,aad fraaaaa Vii qualified electors who own tax-
able property in the City aaf Fort Worth, Texas, and who have duly rendered
the same for taxation, to ismue said bouds for the purpossa aforea erosion
ad.and to make mare valid and biaadiaag obligations of the corporate govern.
anent of the City of Fart north, T s;'and,
WHEREAS, it is deemed wias and, wApedient by the City Council of
the City of port Worth, Texas, in flee exercise of the disaaretion reposed
in it by law, that One k°auaadrod anal Fifty- fight Thousand Dollars ( 1 8,tl00*00)
worth of said bands authorized to be iasutd at the election held on the
4th day of Mhrch, A. D. 1941, be issued in boards at this tisane, said bond's
to be issued being Series 71 and desi ated, as mWi Lary Sesser System and
Sewage Disposal.Pla=nt ndWl; kaalW, TIM WE 'ORE,
EE IT ORDAINED Bf THX CITY ODUICIL OF ma C= OF Fwa ViolaH,
MOTION 1.
11 hat pursuart to Section 19 of Chapter XXV of tho Charter of the
City of Fart Worth, Texas, adqpted by the qualified voters within the cor-
porate limits of said Citycn the 11th day,off' December, A. D. 1924, and
the laws and Constitution of the State of Texas, and pursuant to a vote
of the qualified electors of the City of Fort Worth, Texas, who own tarsable
property in said City and who have duly randered the same for taxation,
at an election held in said City for such purlx)se on the 4th day, orf—Mareh,
A. D. 1941, that the municipal government of the City of Fort Wrth, Texas,
issue its corporate negotiable coupon bonds in tho principal sum of One
Hundred and Fifty-eight Munisand Dollaini ($qspowoo), which bonds were
authorized to be issued at a proper eloctiozi held on the 4th d ,r of Wxeh,
Ao D* 1141, and which bonds are knawn as Series 71 and designated as "Sani-
tary Sewer System and Sewage Disposal- Plivit Bands,lt and the bonds so to be
issued shall be in the denonanation of One Thousand Dollars (01,000.00)
each, dated July 1, 1542, the firm: Fifty-two Thaaaapd Dollars ($)2,000.00)
worth of said bonds to bear interest at the rate oft o and three-fourths
per cent VI A%) per annum, and t1m remainder to bear interest at the rate
of two per cent Q) per anxwn4 pmqublo sealmannually on the tirat day of
January and July of each year respectively, both principal and interest
of said bonds being payable at the Ceritral Hanover Bwik and Trust Company,
in the City of Now York, State of Now York, the sead-arvival interest being
evidenced by interest coupons attached thereto, all of said bonds to be
executed for and on behalf of the City of Fort Worth, Texas, by the or
thereof, attested blAts City Secretary, with the seal of the City thereon
dull impressed, but the interest coupons to be executed with the litho-
............... ...........
AM
graphed facsimile AV,)ature of tho Ayer and City Secretary of the City
of Part North, Texaa. Each of said bonds and coupons shall be negotiable
and payable to bearer, and said bovids shall be numbered in the way and
manner hereinafter set out, ao that the last maturing bond shall bec"
payable within twenty-five (25) years from the date thereof, and the bonds
themselves, one hundred and fifty-eight (158) in number, shall be number-
ad consecutively from one (1) to one hw%drad and fifty-eight (158), In-
elusive, and shall mature in the amowTt and manner hereinafter set out.
Said bonds shall be used for the 1wwwpoae of improvingj extending and ens-
larging the sanitary sewer eystem 4And sawap
go dj„spozal plant of said City.
That the general form of said bonds and the coupons thereto an-
nexed and the interest added to said bonds shall be ezvowDed substantially
in the following forma
...............
'CA
l
CITY OF FORT WORTH
000C000
Sanitary Sower system and S Dialmsey, Maul, Bond of the City of Fort
Worth issued for the purpose of making permanent improvexants by
lApIvylog, extending and ,enlarging the sanitary serer eye-
tax and sawuga disposal plant t of said.City&
MM ALL M BY TMM MOMTS:
That the goverment of the City of Fort Wortb,, a municipal car
poration duly created under the lom of the State of Texas, hereby soknowl-
edges itself to owe, and for value received promises to pay to bearer,,
on THUM= D , (41,000.00)
in lawful money of the United States ofAmorica, on the fl„rat days of Zuly,
A. D. l9 , together with interest thereon at the rate of
perc : tum ( %) per a xa rs, payable semi-
annually on the first day of Anuary and July in each year, on presenter
ties and surrender of the annoxed interest coupons as they severally fall
due. Both the principal mud interest of this bond,are payable at the of-
ficer of the Central Hanover Beak, and Trast. Company',', in Now York City, Now
York and for the due and punctual payment of this bond at the maturity
thereof,# and the interest thereon wbou it falls due, the full faith, credit
and ra"esouroas of the City of Fort 'Worth are hereby irrevocably pledged.
This bond In one of a series of one hundred and fifty-}eight (1 ')
bonds numbered consecutively from one (1) to one hundred and fifty-eight
(158), Inclusive,, each of the denomination of One Thousand Dollars ($1,000.00),
amounting In the- aggregate to the sum of one Mmdxod and Fifty-sight Thousand
,Dollars (0158,000.00), issued for tbs 'Purpose of making permanent improve-
ments by improving, extending and enlarging the sanitary sewer system and
sewage disposal plant of the City of Fort Wbrth, Texas, under and by virtue
of the Constitution and laws of the State of Tozas, the Charter of the City
of Fort Worth, and an ordinance lwarully passed and adopted by the City
Council of the City of Fort oath, pursuant to valid authority from the
property taxpaying qualified voters of said City, at a proper and legal
election bold on the 4th day of March, A. D. 19419
it is hereby further expressly represented, recited and covenanted
by the goverment of the City of Fort Worth, to and with each and every
holder of said bonds or any one of them, that all sets, conditions and
tblWrequired by the laws of the State of Texas, and of the Charter and
OrdiAnnees of the City of Fort Worth, p"eadent to and in the issuance of
this bond, have been done, have happened, and have been perforiced in proper
and lawful time, form and manner as proscribed by low, so as to make this
bond a legal, binding and valid obligation of the City of Fort Worth, and
that provision has been made to assess and collect aumvelly a sufficient
sum to pay, the Interest on said bonds and create a sinking fund of at least
two per cant (2%) thereon, sad that for such purpose a tax has been levied
on all taxable property of the City of Fort Worth In an anamt sufficient
for the Payment of the principal and Interest of this bond at the reapeotive
maturity dates tbsxoof* and that the total indebtedness of said City, jja-
oluding this bond and the issue of which it Is a component part, does not
ezOOod any constitutional or statutory limitation.
IN , , the city of Fart Worth, In the State of
wma, berg executed this bond by causing it to be 01,064 by its mayor
e.tteated by tO Olty SeoreteaxT, with the seal of the City thoreumto
duly to eased, and has caused the annexed interest; eoulans to be eae-
eatad with the facsimile signature of the Wor and City Seo"tarr, and
dented as the first day of Tiny A. •.; 1942•
BY
A 3
(you or Comw 40m)
)
%a City of port North, in the State of '"ate,; promises to pay
to Bearer I %---) on the let
day of 19 , at the Central Hanover Bank and Trust
Company, in the City of Now York, Now York, for interest daze that day
on its Sanitary der System and Sewage Disposal Pliant 'Bond, Series 71,
dated AAy 1, 1942, and mambered
CITY OF von WORTH,; Tmm
BY
Mayor
ATTUT
City sed at ry
( TV A OF C UM)
Or OGUTROUM,
STATE OF TXMo
1 hereby certify that there is on file and of record in my office
a dirtificato of the Attorney General of the State of Taus to the
effect that this bond has been examined by him as required by low. and
that he finds it has been Issued in confoa. ,i y with the Constitution and
laws of the''State of Texas, and that it is a valid, and binding obligation
Upon Bald City of Fort Worth, Texas, and said bond has this day been
registered by ma
1NITHM my hand and seal of offlee, at Austin, Texas, this the
day of AUgaaat, A. D. 19/,2x;
Do t", 11er of Publie Aeoouats
of the State of ' om$
That the said bqnds so to 'be issufmi by the City of FoN Arth,
Tax a, amounting to Ono Hundred wid Vifty-eigl,,A, 7!1x;YuzwA Dollars (0158,-
at 1, Wall be Assixed for 'the purpose of improving, Wending and wD-
laxlAng the sanitary, sever aystwa and sewage diopoaal plant of said City,
and shall conaist of one hundred and fifty-eight (1 58) bonds nudbered
from one (1) to one hundred and fiftV-eight (158)p Inclusive, the Arat
Fifty-two Thounand 011ars ($)2,000,00) worth of "id bmid,a to bear in-
torest at the rate of two and t1oreo-fourthe pas dent (2-3/Q per annum,
and the remainder to to Intereat at the rate of t�po ,Fwr owt, (�) per
armun, payable son4-amxually as aforeaaid, all of which said one hundred
and filty-eight (138) bonds shall be %ncma an Series 71 and shall be
atyled and dealipasted as "Sanitary Sewer SyMn and Sewage Disposal
Plant Bonds*; that all of the said bonds, comprising the sun total of
Ono Hundred and Fifty-eigjhit Movisand/ Dollars (,158,000.00), shall mature
An numorical order in the nminer and amounts an set oUt in the tabulated
statanent herewith attaKed, to wit:
--------------------------------
158,000.00 ZAN,1" AIW S�1 1°°2 M m�"S DISPOSAL PLAVT BONDS
DAM JUlY 10 1942
DUE JULY 1ST "RINCIPAL WITRING
1943 11,000.00
1944; 5,000,00
1945 5,000.00
1946 5,000.0
1947 5,000.00
1948 5,000.00
1949' 5,000.00
1950 5,aow.
1951 jv.00
1952 6 G .0
1953 foO00.00'
1956 6,000.00
1955 64000.00
175V 6,000.00
1957 7,000.00
1958 7 jwX400
1959 7,000,00
1960' 7,000-
1961 7,000-00
1962 7,000.00
1963 a,000.00
1964 8, .00
1965 8,000,00
1966 8,000.00
197
MOTION 111.
That the said bonds are hereby authorized to be sold to the best
advantagoo but in no event shall same be sold for less than par, and
the aocrued interest to the timo of delivery and the procoeds thereof
to be planed in the treasury of the Cite of fort (forth and utilized for
the special purposes for v&ich they are created.
SIZTI N IV.
That for the putl*se of paying the interest of said bonds, as
well as the various installments of principal,, as the sense shall re pec-
tively mature, there is W07 lev od for the year 1942 and for each
suecooding year thereafter se long as the some may be necessary, to pro-
vide for the interests quad annual Irw4allaawnts of principal of said bands,
on all property in the City of Fort Arth, Was, liable to taxation, a
straidtat ad valorem tax of 4q cents on the one tawu red dollar valua-
tion of said property, or so a mom thereof as aaaay, be neoesaary, and if
at any time the asaoua t of said tad„ shall moot be si ff c;&.ont to provide
for the interest and an nutal ;instaalLoonts of pria;aoipa`al, it AM be the
duty of the City Council, to so increase said rate that an amount shall
be realized from said tax aufficient to meet the requiroasents aforesaid
for interest and annual instrillaaaant-s of principal of said bonds; and it
is hereby promised and agreed, that such increase of tax shall be ,made,
if re aaired for the purposes named,, as often as it may be necessary,
There shall be aseesaad and colloatbd annually a aufficient sum to pay
the interest on such buds and to create a sinking fund of at least two
percentum (2%) of the privei,pal debt herein aautUrized.
SMTION V.
That it shall be the duty of the City Council of the City of Fort
Forth, Texas, and its successors, and of the govaarr.ousnt of the City of
Fort Worth, by levying taxes for general p'urix)aes for the said Cite: for
the year 19t+2 and for every successive drear duril g the life of said bond-
ed indebtedness or any part thareo , to include in such levy the special
tax of .4,441 cents on the one htm Bred dollar property valuation (or so
much thereof as may be rwqusisite and t°feces y), provided for in the next
preceding section of this ordinance, and said special. tax shall on no
account whatever be displarvJ therefrom.
=1014 VI.
That the special tax hereinbe ore provided for, whan collected,
shall be placed and kept in a separate fund and shall be devoted to the
payment of the interest shad the eati'niAtiad°mMnt of the principal of all and
singular the bonds hereinabove sienti neA as same mature from time to tine,
and shall not be used, applied or diverted to i1' other purpose or object
whatsoever and the finds derived frois 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 convenimit after said bonds shall have been lMwre-
pared and signed in the mwwner proscribed by the ordinance, they shall
be submitted to the Attorney General of the State of Texas, together with
a certified copy of this ordinance and a statement of the total bonded
indebtedness of the City of Fort Worth, incluftig the bonds herein and
hereby authorized and the assessed value of the taxable property in said
City, for his approval, and mane of said d iiwnde shall be negotiated, sold
or transferred until the same ahall. `have received the official sanction
of the said Attorney General as preawd,1)94 by, law, and Umereafter said
bonds shall be plami with the State OxVitrollar of Public Aoccmts for
registration.
PKMON V111.
That the City Treasurer of t1le City of Fort, Worth, or other law-
ful custodian, of such fund, durIxig the mouthe of Doe"ar and June of
each and every year during
, the life of said bonds or pw*t thereof, and
not later than the 25th da,,V of each; of WA months, aball tranwait suf-
ficiemA money out of the Untereat furjids hersinbefore created for the Pw-
ment of the Interest acarxing on, said bonds to the Ciantral,
11miover Ru* mad Timst, Conqmay, of the My of Nm Yorko State of lien
York, and likewise proper matlUanee shall, lye mWe In due pour to pro-
vide for the pagment, of the principal of raf said hot ids in advance of
the maturity of same.
SFETION TX,
That a.0 ordimmmon mmid parts of ordliumces in conflict hereAth
be and they are hereby expresa ,,y repealed.
M9411TILM X.
That the, holdimp, or adjuAteation of any section, portU)n or pant
hereof to be invalid aWl not affect the validity, of any ot1ior section
or part of this ordimmmo,, but all suoh othor sectiomp Partions =4
parts heroof shall be and rwain valli,
=TION X1.
That this ordinamce shall take offect and, be in full force and
effect from and after the date of Its pasertga, d it to so ordainod.
m a r f a �Cl I po "JI,
,M
ATT3 f s
w
APPROVE) AS TO limlim AND 1" ALITYt
(e
City Attor of t o� ty of `o� m
Worth, 'AS%