HomeMy WebLinkAboutOrdinance 2938 ORDINANCE NO.,,
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF N=TIABLE CGUPCN
BONDS CF THE GOVERNMAT OF THS CITY OF FORT WORTH, TEXAS,
AMUNTING TO THE .PRINCIPAL SUM OF FIVE HUNDRED THOUSAND DOL-
LARS (0500,00-00), IN ADDITION TC THE SU14 OF EIGHT MILLION,
FINE M`THOUSAND DOLLARS (,0S, O'0000,00) WORTH OF SAID
13Wa H�49E G/FGRE 13=0 OUT OF ADD A 'THG#I'Z D ISSUE OF NINE
MILLION DOLLAR$ ( 9,CO47,000,OQ), AND BEING KNOWN AS SERIES
74 AND DESIGNATED AS "$T T`IWR0`V3=,T BONDS'," TC'SE IS-
SUED FOR THE PURPOSE OF CC T,,CTI G, IMPROVIX
ING THE STREETS, THOROUGH"'1U, AND STORM, S a° "'CF SAID CITY,
INCLUDING IN SUCH FS PUBLIC TMPROVEMM S THE STRAIGHTEN-
ING, WIDENING, PAVING, MADE'SEPARATION, LIGHTING AND DRAIN
AGE OF SAID STMTS AND THOROUGHFARES,"S, AND ACQUIRING THE
NECESSARY LANDS TH R k 'SAID QTY", EACH OF SAID BONDS
TO BE IN THE DENOMINATION OF 014B THOUSAND DOLLARS ( 1,000000),
TO SE DATED MARCH 1, 1952, MATURING FROM ONE (1) TO T tTY-
( 5) YEARS � THE, DATE THEREOF, TH FIRST SIXTY'THOU-
SAND DOLLARS ($60,000,60) ifORTH OF SAID BONDS TO SEAR INTER-
EST AT THE RATE OF FOTJR PER CENT (4 ) PER A PUM, THE NEXT
Wo HUNDRED AND TWENTY THOUSAND DOLLARS ( 22O,CDCD0*00) WORTH
OF'SAID 13QNDS TO BEAR NTF,RST AT THE RATS; OF ONE AND THREE-
IARTERS PER CENT (1-3f4 ) M ANNUNO AND THE NUT TWO HUN-
A D WMTY,MT THOUSAND DOLLARS ( 220,000000), WORTH OF SAID
5 TO 13WI INTER= AT THE RATE OF TWO PEH C94T (2 ) PER
64 SAID INTFA WT BEING PAYABLE Ste-AN ALLY' THE INTEREST TAD'BE EXPRESSED IN COUPON NOTES, AltrACHM T43 THE HONDS3 DI C -
ING - T;THS, SAID BONDS BE 4=, UTa" A THE MAYOR AM CITY'
SiCUTARY; PROVIDING FOR,W " ,ATZ TAX LEVY FOR `.f'HE PAY-
OT OF THE INTEREST ON SAID'BONDS AND T4 CREATE A SINKING
F1 D FOR THE PAUMT OF"TkS PiiiCIPAL THEREOF AS THE SAME'
FROM TIM TO TI' , AND, &TI)ING THAT THIS O DINANCE
S1 , L HE IN FORCE AND ZYMOT FROM AND AFTEa THE DATE OF ITS
PASSAGE.
WHtRFAS, on the 5th day of September, A. D. 1945, pursuant to
the authority vested in said City by Section 19 of Chapter XX'V of the
Chanter of the City of Fort Worth, adopted by the qualified voters with
in the limits of said City on the llth day, of December, A. Do 1924,
and the laws and Constitution 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 qualified electors who own taxable property in
the City of Fart,Worth, Texas:, and who have duly rendered the ,same for
taxation, at an election to be held in said City on the 2nd day of Octo--
ber, A. D 1945, of the right;, power and authority of the City Council
of the City of Fart Worth, Texas, to issue negotiable coupon bonds of
the corporate government of said City in the principal;sum of ,Nine Nil-
lion Dollars (#9,000,000.00) for than purpose of constructing, improving
send a mad ng the streets, thoroughfares and stoma sewers of said City,
including in such permanent public improvements the straightening, widen-
ing, paying, grade separation,, lighting and drainage of said streets and
thoroughfares, and acquiring the necessary lands therefor for said City,
and,`
WMEAS, in conformity with said ordinance, the Mayor of said
City did make proclamation of said election, and fixed the date thereof
for the 2nd day of October, A D, 1945; and,
100=S., said election order and proclamation thereof were preo.
Pared and published in the manner and for the time prescribed in said
ordinance;.and,
WAS, on the 2nd day of Goober, A. D. 1945, said election was
held in the City of Fort Worth;, Texas, at the respective polling places
deetgaated 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,
W 1AS, the official ballot on said occasion, in conformity with
the ordinance of the City Council hereinsbowe mentioned and in ac-
cord nce, with the order of said election, In form and in substance
read as follows.
OM, CIAL, BALLOT
X.
Shall the City of Port Worth,;Texas, through its City Council,,
issue its negotiable coupon bonds in the principal a=, of gine'�dillicd
Dollars ($10,000,000,00) for the purpose of construtcting,; improving and
exteaad ;ng the streets, thoroughfares and storm sewers of said City, in-
eluding in suchparvanent public improvements the straightani , widen-
ing, paying, grade separation, iighting and drainage of said streets;
and thoroughfares, and acquiring the necessary lands therefor, said
bonds being payable serially as may be determined by the City Council
SO that the last s turfing bond shy became payable within forty (
Year$ from the date thereof, bearing interest at a rate not to exceed
four'per cent (l%) per a muz from the date thereon, payable sew
4nn10411y) and levy a sufficient tax to pay the interest on said bonds
said create a sinking fund sufficient to redeem said bonds at the me-
turity thereof
FOR the Issuance of Street improv6Ajs0t Bonds.
AIBST Use Issuance of Street Improve"nt Bonds.
IIr
Shall the City of Fort Worth, Tema, through its City Council,;
issue its negotiable coupon bonds in the principal am of` Two X111ion,
Five Hundred Thousand Dollars ($2,S00,!t ,t ) for the purpose of estab-
lish ag, equipping, extending and improving miniclPal airports and land-
ing fields for airplanes, aircraft and ogler aerial machines, and acquir-
ing the necessary lends therefor, said bonds being payable serially as
may be dots hod by the City Council so that the last maturing bonds
shall. become payable within forty (, years from the date thereof,
beaftag interest at a rate not to exceed four per 'coat (4%) per annum
from the date thereof, payable semi-annuall , and leyy a sufficient tax
to pay the interest on said bonds and create a sinking fund sufficient
to redeem said bonds at the maturity thereof?`
POR the Issuance of Airport Bonds,.
AGAINST the Issuance of Airport Bonds,
III*
Shall the City of Fart Worth, Texas, through its City Council,
issues its negotiable coupon bonds in the principal sum of Two Million
iaollars ( 2, ,040.00) for the purpose are` improving, eactendiug and
en-
larging the sanitary sewer system and sewage disposal plAnt of said
City, and acquiring the necessary lards 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 Weed four
Per bent ('4%) per:annum from the "to thereof, payable somi-Vitally,,
and levy a Wficient tax to pay the interest on said bonds and create
a sinking fund sufficient to redeem said bonds at the maturity thereof?'
FM the Issuance of Sanitary sewer ;system and Sewage Disposal
Plant Bonds,
AGAINST the Issuance of Sanitary ,sewer system and ,sewage
Disposal Plant Bonds.''
IV
Shall the City of .Fort Worth,'Texaas, through Its City Council,,
issue its negotiable coupon bonds In the principal sun of Three )011ioa
Dollars ($3,000,000.00) for the purpose of improving, extending and en-
larging the water works and water works system of said City, and ac-
quiring the necessary, lands therefor, said bonds being payable aerially
as maybe detervined by the City Coua~acil., so that the last maturing
bonds shall become payable within forty (40) yrears' from the date there-
of, gearing interest at a rate not to exceed four per cash (4%) per
anaux from the date thereof, payable semi, -atlaaually►, and levy a,sufficient
tax to pays the interest on said bonds' and create a sinking fund: sufficient
to redeem said bonds at the maturity thereof?
Fl the Issuance of Water Works Bonds.
AGAINST the Issuance of Water Works Bonds.
V*
Shall the City of Fort Worth, Texas, through its City Council,
issue its gotiable coupon bonds in the principal sum of `ham,OAAdred
Thousand Dollars ($300,000#00) for the purpose of constructing, build-
ing,and,equipping a police station and Jail bui ding,, said bands b , ,
pile sir.ally as may a detervUed by the City Council; so that the
last maturity bonds shall become payable vIthIA forty (fit) years from
e ddts t br ►i,, bsd,.ng interest at a rate not to ere 'four per
cent (4%) per ag us« from the date thereof,, payable semi-annually, and,
levy sufficient tax to pair the interest On said bonds and create a
sinking fungi sufficient to redeem said bonds at the maturity thereof?
IM the Issuance of Police Station and Jail Building Bonds.
AGAINST the Issuance of Police Station and Jail* Building
Bondso
a
Shall the City of Part Worth, Texas, through its City Council,
Issue its negotiable coupon bonds in the principal;suss of seven Hundred
Thousand I+oll airs ($700,,0000-00) for the purpose of purchasing, acquir-
ing and improving land and property for public parrs in said City,
said bonds 'being payable`serially as may be determined by the,City
Council, so that the last maturing bonds shall become payable 4thiv
forty, (40) years from the date 'thereof, bung interest at a mate not
to exceed four per cent (4%) per annum from the date the coy , payable
s hey,, and levy s. sufficient tax to pay the into+*fit on said
b ds d create a sinking fund sufficient to redeem , d'bonds'at the
maturity thereof
FOR the Issuance of Park Bonds.
AGAINST the Issuance of Park Bonds.
V13:
Shall the City of Rwt Worth, Texas, through its City Council,
Issue its negotiable coupon bonds in the principal sum of Five flundred
Thousand Sollars ($,$00,400,,,00) for the purpose of purchasing, aoqu r-
ing and improving the playgrounds and recreation parks of said City,
said 'bonds being payable serially as may be deter .ned by the City
Council, so that the last maturing bonds shall become payable within
forty ( ) years from the date thereof, bearing interest at a rate not
to exceed,four per cent (4%) per aMM from the date thereof, payable
semi--snnuallir, and levy a sufficient tax to:pay the interest on said
bonds and create a ring fund sufficient to redeem said bonds at
the maturity thereof?
FOR the Issuance of Playground and Recreation Park Bonds.
AGAINST the Issuance of Playground and Recreation Park Bonds,
ViTI*
Shall the City of Fort Worth, 'Peas, through its City Council,
Issue its negotiable coupon bonds in the principal sum of Bight Hundred
Thousand Dollars ($100,000,00) for the purpose of constructing, build
ing and equipping an art and childrents mussam for said City, and go-
............
the pagesswry land therefor, asid bonds being parable aerially s may be determined b7 the City Council, so that the last maturing,
bonds shall'become payable within forty ( ) years from the date theme
of, 'bearing interest at as rate not to exceed four per cent (a ) per
annum from the date thereof, payable son-anxnmally, and levy a suf-
ficient tax to pay the interest on said bonds and create 'a sinking
fund sufficient to redeem said bonds at the 'maturity thereof'
the Issuance of Art and Childrenss Museum Bonds,
AGAINST they Issuance of Art and Children's Maseum Bonds.
Iii;,
Shall the City of port Worth, Texas, through its City Council,
issue its negotiable coupon bonds in the principal sum of five 'Hundred
°fhousand Dollars ($,.500,000A00) for the purpose of constructing, build-
ing nd equipping a recreation center building and amphitheater for
said ,City, and acquiring the neeessary land therefor, said bonds be-
ing payable aerially as may be determined by the City Council so that
the last maturing bonds shall become payable sri.thin forty (405 years
from the date thereof, bearing interest at a rate not to eXcoad foul*
Per beast (4%) per annum from the date thereof, payable semi.-annually,
and levy a sufficient tax to pay the interest on said bass and create
a sinking fund sufficient to redeem said bonds at the maturity thereof?
FOR the Issuance of Recreation Center Building and Amphi-
theater Bonds.'
AGAINST the Issuance of Recreation Center Building and
Amphitheater Bonds.
.
Shall the City, of Fort Worth, Texas, through its City Council,
issue its negotiable coupon bonds in the principal sum of one H.11ion;,
Mva Hundred Thousand Dollars 41,5,00$00040) for the purpose of con-
structing, equipping and; improving agricultural and liveatock exhibit
buildings for said City, and acquiring the necessary lands therefor;,
Said bonds being payable;serially as may be determined b;/ the City
Council, so that, the last maturing bonds shall became payable within
forty O ,years from the dates thereof, bearing interest at a rate
not to exceed form per cent (4 ) per annum from the date 'thereof, pay-
able sera-amuaally$ 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 Agricultural and Livestock Zxbjbit
Building Bonds.
AGAINST the Issuance of Agricultural and Livestock &,Khibit
Building Bonds.,
and,
MUMAS, in the election held in said City of port Worth Texas,
on the 2nd day of October,, Art D. 1945, on the question of the issuance
of said bonds hereinbsfore mentioned, there was a majority of votes in
favor:of the issuance of said bonds; and,
WNSWAS4, by virtue of said election, said City Council is vested
with power and authority by and from the qualified electors who own tax-
able property in the City of Fort Worth, Texas, and who have duly ren-
dered the same for taxation, to issue said bonds for the purposes afore-`
mentioned and to make same valid and binding obligations of the corporate
government of the City of Fort Worth, Texas; and,
S, the City Council, in accordance with the power vested in
said governing body, did lawfully pads and adopt an ordinance on the
13th day of February, A. D. 1946, authorizing the issuance of negotiable
coupon bonds of the government of the City of Port Worth amounting to
the principal sum of Four Hundred and Fifty-three°Thousand Dollars
44 3y ,OO); and,
WHEMS, the City Council, in accordance with the power vested in
said governing body, chid lawfully pass and adopt an ordinance on the
l h, day of December, A. D. 1946, authorizing the issuance of negotiable,,
coupon bonds of the government of the City of Fort Worth amounting to the
principal sum of Nine Hundred and Fifty Thousand Dollars ( 50,OW,00);
and,
WUSUASp the City Council, in accordance with the power vested in
said governing body, did lawfully pass and adopt an orl ante on the
16th day of dully,:A.. D 1947, authorizing the issuance of negotiable'
coupon bonds of the government of the City of lbrt Worth amounting to the
Principal sum, of Seven Hundred and Fifty Thousand Dollars (#,750,000,00);
and,;
WHOUH, the City Council, in accordWee with the power vested
in said Vverni:ng body, did lawfully pass and adopt an ordinance on the
23rd day of June, A. D. 1948, authorizing the issuance of negotiable
coupon bonds of the government of the City of Fort Worth amounting to the
principal sum of Four Hundred and Twenty-five Thousand Dollars (#425,000,W);
and,
W%U'US, the City Council, in aocordance with the power vested in
said govornisq bo47, did lawfully pass and adopt an ordinance on the
27th day of Ootober, A. D. 1948, authorizing the issuance of negotiable
coupon bonds of the government of the City of Fort Worth amounting to
the principal sum of One Million, Four Hundred and Fifty Thousand Dollars
(11*450,000,00); and,
WHOWiS, the City Council, in accordance with the power vested in
said governing body, did lawfully pass and adopt an ordinance on the
14th day of September, A. D. 194,9, authorizing the issuance of negotiable
coupon bonds of the government of the City of Fort Worth amounting to the
principal sum of Two Million, Three Hundred Thousand Dollars ($2,300,000*00);
and,
WWWRA5, the City Council, in accordance with the power vested In
said governing body, did lawfully pass and adopt an ordinance on the
3M, dAy of August, A. D. 1950, authorizing the issuance of negotiable
coupon bonds of the government of the City of Fort Worth'amounting to
the principal sum of Two Million$ One Hundred and Seventy-two Thousand
Dollars ($2,172,000.00); and,
WHBfWAS, all of the above described bonds were issued out of an
authorized issue of Nine< Million Dollars ($9,000,000*00) worth of said
bonds, which bonds were authorized to be issued by the property taxpay-
ing qualified voters of said City at an election held on the 2nd day of
October, A. D. 1945, and 411 of them being a part of and known as Series
74, and designated as t"Street Improvement Bonds"; and,
VERUS, 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 Five Hundred Thousand Dollars ($500,000#00) worth of
said bonds, in addition to the Sight Million, Five Hundred Thousand Dol-
lars ($8,500,000400) worth of said bonds heretofore issued and sold out
of the authorized issue of Nine Million Dollars ($9,000,000.00), be is-
sued in bonds at this time, said bonds to be issued being a part of
Series 74 and designated as "Street Improvement Boads"; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COIXOIL OF TIM CITY OF FORT W0=1,
TLUS:
SECTION, 11
That the municipal government of the City of 'Fort Worth, Texas,
issue its corporate negotiable coupon bonds in the principal 9= of
Five Hundred Thousand Dollars ($500,000.00), this amount being in addi-
tion to the Four Hundred and Fifty-three Thousand Dollars (#453,000,00)
worth of said bonds heretofore issued by an ordinance lawfully passed
and adopted on the 13th day of February, A. D. 1946, the Nine Hundred
and Fifty Thousand Dollars ($950,000.00) worth of said bonds heretofore
issued by an ordinance lawfully passed and adopted on the 18th day of
December, A. D. 1946, the Seven Hundred and Fifty Thousand Dollars
050,000900) worth of said bonds heretofore issued bv an ordinance lav"
fully passed and adopted on the 16th day of July, A. D. 1947, the Four
Hundred and Twenty*five Thousand Dollars ( 25,000o00) worth of said
bonds heretofore issued by an ordinance lawfully passed and adopted on
the 2.3rd day of June, A. D. 1948, the One Million, Your Hundred and Fifty
Thousand Dollars ($1,450,000.00) worth of said bonds heretofore issued
by an ordinance lawfully passed and adopted on the 27th day of October,
A. D. 1948, the Two Million, 'Three Hundred Thousand Dollars (#2,300,000,W, )
worth of said bonds heretofore issued by an ordinance lawfully passed
and adopted on the l4th day of September, A. D. 1949, and the Two Million,
One Hundred and Seventy--two Thousand Dollars 02472,000*00) worth of
said bonds heretofore issued by an ordinance lawfully passed and adopted
on the 30th day of August, A. D. 1950; that the bonds above described were
issued, and sold out of an authorized issue of Nine Million Dollars
49,000,000,00), authorized to be issued at a proper election held on the
2nd day of October, A. D. 1945, which bonds are known as Series 74, and
designated as "Street Improvement Bonds"; that the bonds so to be issued
8 � W ®8 • 4 7 6 d
° 6 m %
SECTION II a
That the said bands so to be issued by the City of Fort Worth,
Texas, amounting to Five Hundred Thousand Dollars, ( 5 4 444.i1Q), in ad-
dition to the stud of Eight Million, Five Hundred Thousand Dollars'
($8,$00,000.00) worth of said bonds heretofore issued out of the said
authorized issue of Fine Million Dollars ( 9,000,000oO 1), shall be is-
sued for the purpose of constructing, improving and extending the streets,
thoroughfares and storm sewers of said City, including in such permanent
public improvements the straightening, widening, pawing, grade separa-
tion, lighting and drainage of said streets and thoroughfares,, and ac-
quiring the necessary lands therefor for said City, and shall consist
of five hundred (5440 bonds numbered from 'eighty-five hundred and one
(8,541) to nine thousand (9,4) 4), inclusive, and the :first Sixty Thou-
sand Dollars ($60,000.00) worth of said bands, maturing from 1953 to
1955, inclusive, shall bear interest at the rate of four per cent (4,%)
per annum, and the next Two Hundred and Twenty Thousand Dollars ($220,-
000.00) worth of said bonds, maturing from 1956 to 1966, inclusive,
shall bear interest at the rate of one and three,-quarters per cent
(1-3/4%) per annum, and the next Two Hundred and Twenty Thousand Dol-
lars ($220,004.00 worth of saidubonds, maturing from 1967 to 19770 In-
clusive, shall bear interest, at the rate of two per cent (2%) per annum,
payable semi.-annually as aforesaid, all of which said five hundred (500)
bonds shall be known as Series 74 and shall be styled and designated as
"Street Improvement Bonds"; and that all of the said bonds, comprising
the sum of Five Hundred Thousand Dollars (4500,000.00), shall mature
in numerical order in the ,manner and amounts as set out in the tabulated
statement herewith attached, to wit;
SECTION M.
That the said bonds are hereby authorized to be sold to the beat
advantage, but in no event shall same be sold for less than par, and
the accrued interest to the time of delivery and the proceeds thereof
to be placed in the treasury of the City of Pbrt Worth and utilized
for the special purposes for which they are createdo
SECTION IV,
That for the purpose of paying the interest of said bonds, as well
as the various installments of principal, as the same shall respective-
ly mature, there is hereby levied for the year 1952 and for each sum
ceeding year thereafter so long as the ooze may be necessary, to provide
for the interest and annual installments ofprincipal of said bonds, on
all property in the City of Fort Worth, Texas, liable to taxation, a
straight ad valorem tax of .1060, cents on the one hundred dollar valu-
atlon of said property, or so much thereof as may be necessary, or in
addition thereto as may be required, 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 aforesaid 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 pur-
poses named, as often as it may be necessary. There shall be assessed
and collected annually a sufficient sum to pay the interest on such bonds
and to create a sinking fund of at least two percentum (2%) of the prin-
cipal 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 1952 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 .7860 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 ordinance, and said special tsar 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 singular the 'bonds hereinabove mentioned as as= mature from time
to time, and shall not be used, applied or diverted to any other purpose
or object whatsoever, and the ;funds derived from said tax shall be held
and listed as a separates account on the books of said City and the pro-
ese", held. and i cept by the City,Treasurer of said City as a separate
and distinct account and so specified as such on his books.
SECTION V,.
That as soon as convenient after said bonds shall have been pre-
pared and signed in the manner prescribed 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, including the bonds here-
in and hereby authorised and the assessed value of the taxable property
in said City, for his approval, and none of said bonds shah, be nego-
tiated, sold or transferred until the same shall have received,'the of-
ficial 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.
SEGITON VIII.
That the City Treasurer of the City of Fort:Worth, or other law-
ful custodian of such fund, during the months of August and February 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 z1outh's, shall transmit suf-
ficient money out of the interest funds hereinbafore created for the
payment of the semi-annual interest accruing on said bonds to The
Hanover Bank, of the City of New York, State of Now York, and likewise
proper remittance shall be made in due course to provide for the pay-
ment of the principal of any- of said bonds in advance of the maturity
of same.
SECTION IX.
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 ordained4
Mayor of the Ujij of PoR Worth, Texas
ATTEST:
City 3007MA17— of M City Of
Fort worth, 1*M*
APPROVO AS•TO FORK AND LEGALITY:
Gity Attorney of the ORM
Fort Worth,, Texas
CITY OF POST WORTH
PRINCIPAL NATURITIES
$500,4JW,00 STRUT IblPFOVEMT BMS
DATED XWH 1, 1952
DUS MUCH 18T PRINCIPAL MATURING
1953 0,20,000.00
1954 20,000,00
1955 20,000.00
1956 20,000.00
1957' 20,000.00
1958' 20,000.00
1959 20, 0.
1960 20,000.00
1961 20,000.00
1962 20,000.00
1960' 20,000.00
1964 20,000,00
1965 20,000.00
1766 20,000.00
1967 20,000,.00
1968, 20,000.00
1969 20,000.00
'4 20,x.00
1 19971 20,000.00'
1972 20,000.00
1973 200000.00
1974; 20,000.00
1975 20,000«00
1976 20,000.00
1977 200000.00
UNII1 STATES
OF ACA
STATE OF TEXAS, COUNTY OF TAHWT.
SERIES 74
CITY OF F 0 R T WICATH
00000-
Street Improvement Bond of the City of Fart Worth issued for the purpose
of constructing, improving and extending the streets, thoroughfares
and storm sewers of said City, including in such permanent pub-
lie Improvements the straightening, widening, paving, grade
separation,, lighting and drainage of said streets and
thoroughfares, and acquiring the necessary lands
therefor.
KNOW ALL W BY THESE PEWI TTS
That the goverment of the City of Dart Worth, a municipal cor-
poration duly created under the laws of the State of Texas, hereby
acknowledges itself to owe, and for value received promises to pay to
bearer,
ONE THOUSAND DOLLARS ($l, *00)
in lawful honey of the United States of America,, on the first day of
March,, A. D 19 ,,, ,_, together with interest thereon at the rate of
percentum ( %) per annum, payable semi-
annually on the first day of September and March in each year, on presen-
tation 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 Bang, in New York City, 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.,
uJl z This bond Is one of a caries of five hundred +(50)j bards numbered
consecutively from eighty-five hundred and one (8,501) to nine thousand
(9,000), inclusive, in the denomination of One Thousand Dollars ( 1,000.00)
each, amounting in the aggregate to the sum of Five Hundred Thousand
Dollars ($500,000.00), issued for the purpose of constructing, improving,
and extending the streets, thoroughfares and storm sewers of said City,
including in such personent public improvements the straightening, widen-
gs paving, grade separation, lighting and drainage of said streets and
thoroughfares, and acquiring the necessary lauds therefor, under and by
virtues 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 mart Worth, pursuant to valid authori-
ty from the ,property to.Vaying qualified voters of said City, at a proper
and legal election held on the 2nd day of October, A. D 1945,
It is hereby further expressly represented, recited and covenanted;
by the government of the City of Fort Worth, to and with each and every
holder of said bonds or any one of them, that all acts, conditions and
things required by the Constitution and laws of the State of Texas, and
of 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 manner as pre-
scribed by law, so as to make this bond a legal, binding and valid ob-
ligation of the City of Fort Worth, and that provision has been made
for the levy and collection of a direct annual tsx on all taxable prop-
erty 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
indebtedness of said City, including this bond and the issue of which
it is a component part, does not emceed any constitutional or statutory
limitation,,
IN `l STIMMY WH—E 1F, the City of Fort Worth, in the State of
Texas, has executed this bond by causing it to be,signed by its Mayor
and attested by the City secretary, with the seal of the City thereunto
duly impressed, and has caused the atmexed interest coupons to be exe-
cuted with the facsimile signatures of the Mayor and City Secretary,
and has caused this band to be dated; as the first day of March, A. A
CITY OF TORT WORTH, TEES
BY
Mayor
As"
ity;Secretary
mmmmu .M.. .. -
(FORM OF COUPON NOTE)
The City of Fort Worth, in the State of Texas, promises to P8Y to
Bearer ($ _) on the 1st day
of 19 �, at The Hawvor 501*1 in the City of
New York, New York, for interest due that day on its Street Improvement
Bond, Series 74, dated March 1, 1952, and numbered
CITY OF FORT WORTH, TEXAS
BY
Mayor
ATTEST:
81GY nacre t;;j
(CERTIFICATS,OF 001�?TR=JR)
OFFICE,OF COMPrRCLLER,
STAn. OF TEAS.
I do hereby certify that there is on file and of record in my of-
fice 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 obli-
gation upon said City of Fort Worth, Texas, and said bond has this day
been registered by me.
WITNESS uV hand and seal of office, at Austin, Texas, this the
day of A. D. 19
5-igr4ler V Rb-11-c Accounts
of the State of Texas