HomeMy WebLinkAboutOrdinance 3438 ORDINANCE NO.
AN ORDINANCE PROVIDING FOR THE ISSUANCE Cdr NEGOTIABLE COUPON
BONDS (' THE GOVERWWT,CAF THE CITY OF FORT''WORTH, TV M*
AMOUNTING TO TEE PRINCIPAL SUM OF FOM T.LION, NINE HUNDRED
AND M-FIVE THOUSAND DOLLARS ($4,925,000.00), IN ADDITION
TO TO ON OF 71MVE MILLION, FIVE HUADRXD A" TWOR -FTO
THOUSAND DOLLARS ($12,5,25,000-00) WORTH OF SAID BONDS -
TOFORE ISSUED OUT OF AN AUTHOR IM 18801 OF TW4XTY
MILLION, FOUR WORED AND FIFTH' THOUSAND DOLLARS ( 23,40,
000.00) WORTH OF SAID BOM, AND BEING KNOWN AS SERIES 84
AND DISIGNATED AS "ST4 M, T 1MPROV=W BONDS," TO BE ISSUED
FOR THE PURPOSE OF NAKIRG PERMAMM CITY IMPRO VE MM BY
CONSTRUCTING, IMPROVING AND UrESDING THE STREETS, THOROUGH-
FARES AND STORK MMS OF SAID CITY, INCLUDING IN SUCH P RKA,-
KENT PUBLIC IMPROVEMENTS T1Z STRAIGHTENING,.WIDENING, PAVING,
GRADE SEPARATION, LIGHTING AND DRAINAGE OF SAID SETS AND
THOROUGHFARES, AND ACQUIRING TSE NECESSARY LAMB MREFOR FOR
SAID CITY, EACH OF SAID BONDS TO BE IN THE DENOMINATION OF ONE
THOUSAND DOLLARS ($1,000.00), TO BE DATED MARCH 1, 1956, xA
TURING FROM ONE (1) TO 'IWOM-FIVE ( 5) YEARS FRS THE DA'
THEREOF, THE FIRST ONE MILLION, SEVEN HUNDRED AND SEVEPPT' -
THE THOUSAND DOLLARS ($1,773,000.00) WORTH OF SAID BONDS TO
BEAR INTEREST AT THE RATE OF FOUR PER CENT (4$) PER ANNUM, THE
NEXT NINE HUNDRED AND EIGHTY "IVE THOUSAND DOLLARS (*985,000-00)
WORTH OF SAID BONDS TO BOAR INS ST AT THE RATE OF TWO AND
ONE-HALF PER CE (2-1f2 ) PER ANNUM, THE X=T SEVEN' HUNDRED
AND EIGHTY-EIGHT THOUSAND DOLLARS ( x"788,000.00) WORTH C ` SAID
BONDS TO BAR INTEREST AT THE RATE OF TWO AND SIXTY-HLMMMS'
PER CENT (2.6o%) PER ANNUM, x= ma on MILLION, 00 BRED
AND EIGHTY-�TWO THOUSAND DOLLARS (,$1,182,000.00) WORTH OF S
BONDS TO BEAR INTEREST AT THE RA,",IE OF TWO AND
PER CENT (2.70%) PO A , , AM THE NEXT" ONE AND NINETY'-
SEVEN THOUSAND DOLLARS ($197,000-00) WORTH OF SAID BONDS TO
BEAR INTEREST AT 'ISE RATE OF ONE-QUARTER PER CENT (1/4) PER
ANNUM, SAID INTEREST BRING PAYABLE SEMI-ANNUALLY, THE I=RZS
TO BFI FDCPRES50 IN COUPON NO S,ATTACHED TO THE i DIRECT-
ING THAT THE SAID BONDS BE WCUT'ED BY THE ;MAYOR AND CITY
SECRETARY AND APPROVED AS TO FORM AND LWALITY BY THE CITY
ATTORNEY; PROVIDING FOR AN ADF A�.CE TAX L W FOR THE PAST
OF THE INTEREST ON SAID BONDS AND TO CREATE A SINKING FOND FOR
THE PAYMNT OF THE PRINCIPAL THEREOF AS THE SAME MATURES FROM
TIME TO TIM; AND PROVIDING THAT THIS ORDINANCE SHALL BE IN
FORCE AND ;EFFECT" FROM AND AFTER THE DATE OF ITS PASSAGE.
WHEREAS, on the 15th day of August, A. D. 1951, pursuant to the au-
thority vested in said City by Sections 19 of Chapter XXV of they Charter of
the City of Fort Worth, adopted by the qtalified waters within the limits
of said City on the 11th day of December, A. D. 1924, and the laws and Con-
stitution 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 quali-
fied electors when own taxable property in the City of Fort Worth, Texas,
and who have duly rendered the same for taxation, at an election to be held
in said City on the 11th day of September, A. D. 1951, of the right, power
and authority of the City Council of the City of .Fort Worth, Texas, to is-
sue negotiable coupon bonds of the corporate government of said City in the
Principal sum of Twenty-three Million, Four Hundred and Fifty Thousand Doi-
tars 023,45o,00O.00) for the Purpose of making permanent city improvements
by constructing, improving naid, exteadirqS the streets, thoroughfares and
storm sewers of said City, including In such par maaeat public improvements
the straightening, widening, psving/, grade sepairation, 14ghtlag (Lad drain-
age of said streets and thoroughfares, and acqgiring the necessary lands
therefor for said City; and,
WHEREAS, in conformity with said ordinance, the Mayor of said City
did make proclamation of said election as Eixed the date thereof for the
.11th day of September, A. D. 1951; =rl,
WKEREA8, said electloa order and proclamation thereof were prepared
and published in the umnner and for the tiole prescribed in said ordinance;
and,
WHERBAS, on the 11th day of September, A. Do 1951, said election
was held In the City. of 'Pert Worth, Nt,=s, at the respective polling places
designated 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
Dave duly rendered the same for ta=tion; and,
WHEREAS, the official ballot an said occasion, in conformity with
the ordinance of the City Council hereinabove mentioned and in accordance
with the order of said election, in foam and in substance reads as follows:
OFFICIAL BA114T,
I.
Shall the City of Fort Worth, Texas, through its City Council
issue its ueSotiable coupon bonds in the principal sum of
,liVe,nty-thr,es 14114lion, Four Hundred and Fifty Thousand Dollars
(423,450,CCO.00) for the purpose of makimg permanent city im-
provements 'by constructing, improving and extending Use streets,
thoroughfares and storm sewers of said City, including in such
permanent public iraprovearents the straightening, widening,
paving, grade separation, lightimg and dxainage of said streets
epA thoroughfares, and acquiring the necessary lands therefor,
said bonds being payable aerially as may be deterzKod by the
City Council, so that the last maturing bonds shall becove pay-
able within forty (40) yews from the date tlwreof, beari1w,
Waxest at a rate not to exceed four per cent (4)) per annnuiva
the date thereof, payable aemi-annually, and levy a srr.f-
wt
't t, to Igy the intereat on said bonds and create a sink-
% to redeem said bonds at the maturity thereof?
FOR the Issuance of Street lr#qirovememt axids.
AGAINST the Issuance of Street Laprovement Bonds.
11.
Oball the City of Fort Worth, Texas, Mough its City
Council, issue its negotiable coupon bonfb% in, the principal
sum of Uae 1,111.1liou, Seven Hwidred and, Fifty Thousand Dol-
lars ($1,750,000,M) for the purpose of rwilting permazent,
city impravements Ipj establishirg;,, equiyplzug, extezxdinrr,a„ and
improving, tmaiicipal airports aad-nanding fields for airylanes,
airarwrt mead othei aerial roacAdues, and acquiring the neces-
sary lands therefor, said borWs beink, payable serially as
nay be determined by the City Council, so that the last ma-
turing bonds sball becove payable OKIn forty (40) years
from the date thereof, beariag interest at a rate not to
exceed four leer cej!O; (41j4) per z=wm frcla the date thereof,
payable semi-annually, mid 1.as as sufficient Iztx to pay the
interest on said boads rand create a Pand muff icient
to redeem said bonds at the maturity thereof?
FOR the Issuance af hiaport 13onds.
MOST the Issuance of Airport Bonds.
Ill.
"Ou
E All the City of Fort Worth, Texas, througb its City
Council, Issue its negotiable cm' pon bonds in the principal
sum of Eight Hundxtecd Thousand Do].Lars ('$P,00,000.00) for the
purpose of making permwout city •mprovonents by constructing,
building aad equippin,f,1 rullItional, incinerators for said City
and acquiring the necessary lands therefor, said bonds being
payable serially as may be determined by the City Council, so
t,bat the last maturizWz, bonds shall become payable withia forty
(40) years frem-the mate thereof., bearllxiyin interest at a rate
not to exceed four 'r*r cent (14) per annam from the date there-
of, payable semi-annwa.11y, and levy a sufficierit t,wc to ;pay
the interest on said bonds and create a siOcing fund suffi-
cient to redeem said borids at the maturity thereof?
FOR the Issuance of Incinerator Bormle.
AGAINST the Issumace of lacinerator Bonds.
IV.
Shall the City of Fort WOO, Texas, through Its City
Counwil, issue its negotidble ccaixpmn bonds in the principal
sum of Five Hundred Thousand Dollars ($500,000-00) for the
purpose of making permanent city Improvements, to wit, con-
structing, building and equipping fire stations and improving
and extending tie city fire alarm aystem, and aw4juiring the
necessary lands therefor, said, brn)4z being payable serially
as may be determined by the City Coinicil, so that the last
maturing bonds shall beoowe payable within forty (40) years
from the date thereof, bearini interest at a rate not to ex-
ceed four per cent (4f) per m=um fros the date thereof, ymy-
able seni-oxwmally, seed levy as rauf,ficient tax to pay the in-
terest an said bonds and create, a slMing fund sufficient to
redeem said bonds at the naturity 'thereof?
FOR the Issuance of Fire Froteetion Bonds.
AGAINST the Issuance of Fire Protection Bonds.
V.
Shall the City of Fort Worth, Texas, through Its City
Council, issue its negotiahLe compan-bonds in the principal
sum of Seven Hundred Thousand Dollars ($700,000-00) for the
purpose of making permazeat city improvements by construct-
ing, building and equipping a police station and jail build-
ing, and acquiring t1 me necess&�,.jf land therefor, said bonds
being payable serially as may be determined by the City
Council, so Uvat the lost maturing bonds shall become pay-
able within forty (40) years from the date thereof, bearing
interest at a rate not to weed four per cent (41) per annum
from the date thereof, jayable semi-annually, 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?
FOR the Issuance of Police Station arrow.. Jail Building
Bonds.
AGAINST the Issuanae of Police "Station tuid Jam„il Building
Bonds.
V1.
Shall the City of Fort north, Texas, through its City Coun-
cil, issue its negotiable coupon U,,iads in the principal sum
of Two Hundred Thousand Dollars ($200,000.00) for the purpose
of making permanent city improvements in providing a recreation
center building, to vrit, by constructing, building and equip-
ping a children's museum for said City, and acquiring the
necessary .and therefor, said bonds being payable serially
as may be determined by the City Couacil, so that the last
Yvzturing bonds shall become peyable within forty (40) years
from the date thereof, bearl,ng interest at a rate not to ex-
need four per cent (41%) per twinum from the date thereof, pay-
able semi-annually, and levy a sufficient tax to pay the in-
terest on said bonds and create a sinking fund sufficient to
redeem said bonds at thie Ynaturity thereof?
FOR the Issuance of Children's Museum Bonds.
AGAINST the Issuance of Children's Musema Bonds.
V11.
Shall the City of Fort Worth, Texas, through Its City Coun-
cil, issue its negotiable coupon toads in the 'principal sum
of Cue =11ion Dollars ($1,r=,000.()o) for tbe mwe of
tramming permanent city improvements by purchasing, acquiring
and improving land and property for public parks in said City,
said bonds being payable serially as may be determined by the
City Council, so Uiat tlu last rjutwrinaz bonds shall becoamX10
payable within forty (40) yvars from the date thereof, bearing
interest at a rate not to exceed four per cant (4r/j) per annum
from the date thereof, payable semi-annually, wid, levy a suf-
ficleat tax to pay the interest on said bonds ood create a
sinking fund sufTicient to redeem said bands at the maturity
thereof?
FOR the lssuarx.se of Pazrk Nzads.
AGAIVIST the Isatutnee of Fiu,kz Tknkls'.
Vi II
Shall the City, of fort, ',oforth, Texas, throi®r I its City
Cowuzil, issue its negotiable coupon bonds in the principal
sum of Five Hundred T%ousajid Dollars ($5M),000-00) for the
purpose of rr king, pemwient city improvements by purchasing,,
acquiring mid inprov=& the pDqj,,,rrouads s recreq%tion pwrks
of said City, said bonds beizq; )fgWable serially as may be
determined by the City Counell.3, so that the last awaturirwg
bonds shall become payable vitIain forty (40) years from the
date thereorf, bearing inter cwt at a rate not to exceed four
per cent (4; ) per annum frcxa ^the date thereof, payable serai-
annually, and levy a sufficient tax to -M- the interest on
said bonds and create a, ajiWUW!, fUid, suf-ficient to redewm
said boLVis at the maturity thereof
YCE the Issuance ol" I'layground, and E.1ecreation 'Park Bo w4s.
AGAMST the Issuance of Plzygrotuid aed Recreation Ilark
Bonds';
and,
,If in the election held in said Oity. of Fcxt Worth, Texas, on
the lith day of Septedi)er, A. D. 1951,, On the question of the issuance of
said bonds hereinbefore mentioned, there was a Majority of votes in favor
of the issuance of said bonds, and,
WEMMAS, by virtue of said electiciin, sail City Council is vested
with power and authority by and from the qwilified electors who owwa tax-
able property in t1w City of Fort Worth, Texas, FaO wbo, have duly roaclered
the same for taxation, to issue said 1.*nds fnr the pirrposes aforennantioned
and to make same valid aria birkiimg obligations of the corporate Pgoverlunent
of the City of Fort Worth, Texas; and,
IMMS1,15, the City Council, in accordance with the power vested in
sald governing body, did lavfully pass mad adopt wi orditmace on the 27th
day of February, A. D. 1.952, authorizir4gi the isaxuuice of negotiable coupon
bonds of the government of the City, of Fort Worth tunounting, to the prin-
cipal sum of One Million, Two Hw.idrea =1 Piftij 19cousiand Dollars ($1,250,-
000.00); arid,
WMEMAS, the City Council, in accardance with the power vested in
said governing body, did lawful.1y pass and adqy,,,)t an ordixulace on the l8th
day of February, A. D. 1553, aUth0riZiI43 LhO iS5'Ljaj"jLUe of negotiable coupon
bonds of the government of the City of Fort Worth amounting to the princi-
Pal slatl of TWO 14LI11,011, Four litu'vired and SaventyK ive Thousand Dollars
($2,475,000-00); mod,
Via City Council, in accordance vith the power vested in
sold governing body, did, lawfully pass and adopt an ordInwace on the 101th
day of March, A. D. 1954-, authoricing the Issivince of negotiable cmipon
bonds of the gaverwaant of the City of Fort 'biorth tunoianu"ng to t1w: prin-
cipal sunk of Four MiLlIon, Five 11[andred Tkv.nisrnid. Dollars
axid,
WHERNAB, the City Caiuici.l, in accordrmce Tviith the power, vested in
said governing body, did lawfu'.1.3,y, pass and adopt an ordinance on the 23rd
day of February, a- D. 1955, authorizing the issuance of negotiable coupon
bonda or t1te% goverrmuent of Vie ytt,,,i 01" Part 1,401,-th 81%)Unting to the princi-
pal siza of Four MIJ.Lion, "Miree Hundred 11'!housand, Dolla.'r6 ($4,300"000-On.);
and,
W10"12 AS, all of bbe abovie t1es,,ribed, bonds were Issued out of an au-
thorized issue of Twenty-three RL11ion, Four flundred. Wid Flfty Thousand
Dollars 023,450,000-CO".)) wortli of said bonds, vdiich liorx1a were a0horized
to be issued by the property tsxpsyin4,,,, cjWilified votArs of acid City at
an election hold an the 11th rday of Sieptrmdber, A. D. 19!51, and all ar, di,mm
being a fa rt of wren known as series 64, anui deaiL�,pated, as "Street 11nprove-
ment Bonds"; and,
WHEREAS, it is deemed wise and expedieut try tae City, Cl<:niacil of the
City of Fort Worth, Texas, in tbe exercise of the d1scretion reposed in
it by law, that Four Million, Kine flundred and Twenty-five Thousand Dollaxs
($4,925,000.00) worth of said bonds, in adlition to the Twelve Million,
Five Hundred and Twenty-five Thousand Dollars 012,525,000.00) worth of
said bonds heretofore issued and sold out of the authorized issue of Twenty-
three Million, Four Hundred and Fifty Thousand Dollars ($23,450,000-00),
be issued in bonds at this time, said bonds to be issued being a part of
Series A and designated as "Street Improvement Bonds"; Nad, T10U,1701101,
BE IT 01,MAJNED BY TUB CITY COUNCIL OF THE CITE OP FORT WURTH, TUIAS:
SECTION 1.
That the municipal. government of the City of Fort Worth, Texas, is-
sue its corporate negotiable coupon bonds In the principal sum of Four
Million, Nine Hundred and Twenty-five Thousand Dollars ($4,925,000.00),
this amount being in addition to the One Million, Two Hundred and Fifty
Thousand Dollars ($1,250,000-00) worth of said bonds heretofore issued
by an ordinance lawfully passed and adopted on the 27th day of February,
A. D. 1952, the Two Million, Four Hundred and Seventy-five Thousand Dollars
($2,475,000.00) worth of said bonds heretofore issued by an ordinance law-
fully passed and adopted on the 18th day of February, A. D. 1953, the
Four Million, Five Hundred Thousand Dollars ($4,500,000-00) worth of said
bonds heretofore issued by an ordinance lawfully passed and adopted on the
lOth day of March, A. D. 1954, and the Four Million, Three Hundred Thou-
sand Dollars ($4,300,000-00) worth of said bonds heretofore issued by an
ordinance lawfully passed and adopted on the 23rd day of February, A. D.
1955; that the bonds above described verre issued and sold out of an au-
thorized issue of Twenty-three Million, Four Hundred and Fifty Thousand Dol-
lars ($23,450,000-00), authorized to be issued. at a proper election held on
the 11th day of September, A. 1). 1951, which bonds are known as Series 64,
and designated as "Street Improvement Bonds"; that the bonds so to be is-
sued shall be in the denomination of Oie Thousand Dollars (,1,000.00) each,
dated March 1, 1956, the first One Million, Seven Hundred and Seventy-three
Thousand Dollars ($1,773,000.00) worth ar said bonds, maturing from 1957
to 1965, inclusive, to bear interest at the rate of four per cent (4,%)
per annum, the next Nine Hundred and Righty-five Thousand Dollars ($985,-
000.00) worth of said bonds, maturing from 1966 to 1970, inclusive, to bear
interest at the rate of two and one-half per cent (2-1/2%) per annum, the
next Seven Hundred and Eighty-eight Thousand Dollars ($788,000.00) worth
of said bonds, maturing from 1971 to 1974, inclusive, to bear interest at
the rate of two and sixty-hundredths per cent (2.600 per annum, the next
One Million, One Hundred and Eigkity-tvo Thousand Dollars ($1,182,000.00)
worth of said bonds, maturing from 1975 to 1980, inclusive, to bear interest
at the rate of two and seventy-hundredths per cent (2.70%) per annum, and
the next One Hundred and Ninety-seven Thousand Dollars ($197,000-00) worth
of said bonds, maturing in 1981, to bear interest at the rate of one-
quarter per cent (1/4%) per annm, payable semi-annually on the first day
of September and March of each year respectively, both principal and in-
terest of said bonds being payable at Mw Hanover Bank, in the Borough of
Manhattan, City and State of New York, the semi-annual interest being evi-
denced by interest coupons attached 'thereto; that each of said bonds shall
be executed for and on behalf of the City of Fort Worth, Texas, by the
Mayor thereof, attested by the City Secretary, and approved as to form and
legality by the City Attorney, with the seal of the City thereon duly Im-
pressed, and the interest coupons shal.1 be executed with the lithographed
facsimile signatures of the Mayor and City Secretary of the City of Fort
Worth; that each of said bonds said cowl as shall be negotiable and payable
to bearer, and said bonds sball be numbered in the way and manner herein-
after set out, so that the last maturing bond shall become payable within
twenty-five (25) years from the date thereof, and the bonds themselves,
forty-nine hundred and twenty-five (4,925) in umber, shall be numbered
consecutively from twelve thousand, five hundred and twenty-six (12,526)
to seventeen thousand, four hundred and fifty (17,450), inclusive, and shall
mature in the amount and manner hereinafter set out; and that said bonds
shall be issued for the purpose of making permanent city improvements by
constructing, improving and extending the streets, thoroughfares and storm
sewers of said City, including in such permanent public improvements the
straightening, widening, paving, grade separation, lighting and drainage
of said streets and thoroughfares, and acquiring the necessary lands there-
for for said City.
That the general form of said bonds and the coupons thereto annexed
and the interest added to said bonds shall be executed substantially in
the following form;
SECTION IT.
That the said bonds so to be issued by the City of Fort Worth,
Texas, amounting to Four Million, Nine Hundred and Twenty-five Thousand
Dollars ($4,925,000-00, in addition to the sum of Twelve Million, Five
Hundred and Twenty-five Thousand Dollars ($12,525,000.00) worth of said
bonds heretofore issued out of the said authorized issue of Twenty-three
Million, Four Hundred and Fifty Thousand Dollars ($23,450,000.00), shall
be issued for the purpose of making permanent city improvements by con-
structing, improving and extending the streets, thoroughfares and storm
sewers of said City, including in such permanent public improvements the
straightening, widening, paving, grade separation, lighting and drainage
of said streets and thoroughfares, and acquiring the necessary lands
therefor for said City, and shall consist of forty-nine hundred and twenty-
five (4,925) bonds numbered from twelve thousand, five hundred and twenty-
six (12,526) to seventeen thousand, four hundred and fifty (17,450), in-
clusive, and the first One Million, Seven Hundred and Seventy-three Thou-
sand Dollars ($1,773,000-00) worth of said bonds, maturing from 1957 to
1965, inclusive, shall bear interest at the rate of four per cent (4$) per
annum, and the next Nine Hundred and Eighty-five Thousand Dollars ($985,-
000.00) worth of said bonds, vaturing from 1966 to 1970, inclusive, shall
bear interest at the rate of two and one-half per cent (2-1/2%) per annum,
and the next Seven Hundred and Eighty-eight "Thousand Dollars ($788,000-00)
worth of said 'bonds, maturing from '1971 to 19'14, inclusive, shall bear in-
terest at the rate of two and sixty-hundredths per cent (2.60%) per annum,
and the next One Million, One Hundred and Eighty-two Thousand Dollars
($1,182,000.00) worth of said bonds, maturing from 1975 to 1980, inclusive,
shall bear interest at the rate of two and seventy-hundredths per cent
(2.70%) per annum, and the next One Hundred and Ninety-seven Thousand Dol-
lars ($197,000.00) worth of said bonds, maturing in 1981, shall bear in-
terest at the rate of one-quarter per cent (1/4%) per annum, payable semi-
annually as aforesaid, all of which said forty-nine hundred and twenty-five
(4,925) bonds shall be known as Series 84 and sball be styled and desig-
nated. as "Street Improvement Bonds"; and that all of the said bonds, com-
prising the sum total of Four Million, Nine Hundred and Twenty-five Thou-
send Dollars ($4,925,000.00), shall mature in niumrical order in the man-
ner and amounts as set out in the tabulated statwipnt herewith attached,
to wit:
83111121014 M.
That the said bonds are hereby authorized. to be sold to the best
advantage, but in no event shall same be sold for leas tlaaa ler, and the
accrued interest to the time of deliver y and the proceeds thereof to be
placed in the treasurV of the City of Fort Worth an& utilized for the
special purposes for which they are crw%ted.
SECTION IV.
That for the pa rVose of palrLrq, the interest of said bonds, as well
as the various installuients of principal, as the same shall respectively
mature, there is hereby levied for the year 1956 and for each succeeding
year thereafter so long as the same may be necessary, to provide for the
interest and araivai installments of priacipal of said bonds, on all 1.'xop-
erty in the City of Fort Worth, Texas, liable to baxatioa, a straight ad
valorem tax of 6.63523 seats on the oae hundred dollar valuation of said
property, or so Youch thereof as may be necessary, or in addition t1,iereto
as may be required, mad if i!�Lt axV, tinve the amount of said tax shall not
be sufficient to provides for the interest and annual Hatallments of prin-
ci.jml, it shall be the daty, of the City Council to so increase said rate
that at amount shall be realized from, ss%id tw,., suflfic4.ent to meet the re-
quirements aforesaid for interest and aauival Lnaf,4,,ULaents of principal of
said bonds; and it is hereby promised and agreed that such increase of tasty:
shall be made, if required for the ptwrjoses rummed, as often as it 111ay 'be
necessary. There shall be assessed and collected annually a sufficient
sum to pay the interest on such 'hounds and to create a sinking fund of at
least two percentan (2%) of the principal debt herein authorized.
SM710111 V.
That it shall be the duty of the City Counc1,1 of t1te City of Fort
Worth, Texa's and its successors, and, of the gavernumnt of the City of
Fort Worth, in levying taxes for general purposes for the said City for
the year 1956 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 6.63523 cents an the one hundred e1x,!1rjr proj,.nrry valluttion. (or so much
thereof as ru.qy be requisite a4d necescAaxy, or in a4biltion thereto as may
be required), provided for in t1w ae_%t 'preceding section of this ordinance,
and said special tax sbuill on no account A=tever be displaced therefrom.
I.
111,w,t tile special tgix hereinbefore provided for, when collected,
shall be placed and kqpb in a separate fund tuvi shall be devoted to the
payment of the interest as the extir4j,,uislmaaat of the princl-pal ar all
and singular the bonds hereitutbove mentioned as same mature fraia tune to
time, and shall not be used, w
gplied or diverted to any other purpose or
object whatsoever; and the funds derived from 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 sudh on his br,)oks.
SOCTIOA VII.
That as soon as convenient after said bonds sba.11 have been prepared
and signed in the manner prescribed by ,the ordinance, they shall be sub-
mitted to the 0%ttorney General of the State of INIxas, together with a cer-
tified copy of this ordinance =4 as statement of thq,^ total bonded indebted-
ness of the City of Fort Worth, including the bands herein and hereby au-
thorized and the assessed vaitte of the taw it'able praperty in said City, for
his approval, and none of said, bonds shall be nef,;otiated, sold or trans-
ferred until the same slutli have received tba official sanction of the
said Attoraey General as prescril>ed by lair, sixi the:r,,eafter said bonds shall
be placed with the State Comptroller of Public Accounts for registration.
SECTION VIII.
That the City Treasurer of the City of Fort Worth, or other lawful
custodian of such fund, durini,,; the months of Augmst and February of each
and every year during the life of said bonds orjxrxt thereof, and not
later than the 25th day of esr,ch of said. months, shall tranamit sufficient
money out of the interest funds hereinbefore created for the payment of
the semi-annual interest accruing on saiaf bonds to The Hanover :Hank, in
the Borov#1 ot" hankatt=, City and State of New York, and likewise proper
rMittaUP Bhsll be urada in due course to provi�,]e for the payment of the
prine,ipai or agky of said bonds in advance of the mmwturity of same..
That this ordinance shall take effect wd be in full force and ef-
fect from and after the date of its nssage, and it is so ordained.
3 ro
ro �xf the City .t Fort Wor th, Texas
Aell,
,C�Ytyj at w7 of the City of
,_!ecrp
'Fort Worth, Texas
APPROVED ASS TO F(IM IUIID UMALIT"Z:
City torn-y of the ti-tyof
Fort Worth, Tw�ms
NO. UN11=)
a? AM CA
snaz LF w[Ae" cWwrf ar ➢x
kwams 84
CITY OF F ORT WORTH
--0600,0--
Street Iinprovement Dond of the City of Fort Worth issued for the purpose
of making permanent city improvemeats by constructLig, improving and
extending the streets, thoroWfhfaxea wid s orm sewers of said City,
including in such permanent public improvwients the straightening,
widening, paving, gzimle seq_%ration, lit,;htlng and drainage of
said streets and thoroughfares, and acquiring the neces-
sary lands Uterefor.
lCiN ALL HEN BY UESE 11RESENTS:
That the goverrunezit, of the City of Fort Worth, a municipal corpora-
tion duly created under the laws af the State of Texas, hereby acknowledges
itself to owe, and for value received p'roxalues to lay to bear°er,
0142 THOUSA11D DO U08 ($1,=).100)
in lawful money of the United States of America, on the first day of March,
&. D. 19 together trith interest therean at t1ie rn%te of
percentum %) per winum, payable seqLL-annually on the first day of
September and March in each year, on priesentation, and surrender of the
annexed interest coupons as they severally fall due. Both the principal
and interest of this bond are pay cable at the oifice of The Hanover '.SaAk,
in the Borough of Manhattan, City and luate of New York, and for the due
and punctual payment of 'this Wad at the nxt,birity thereof, and the interest
thereon when, it falls due, the full 1.,'aith, credit tuid resources of the
City of Fort Worth are hereby irrevocably pledged.
Th,js bond is one of a series or forty-nine 'hundred and twenty-five
w0ered consecutively from t'velve thousand, five hundred
and tveatY-six (124,526) to seventeen 'thousand, four hundred and fifty
(17,450), ineluelve, in the den� maLiaa ar One 111housand Dollars ($1,1000.00)
eacb, amj,.,Kmt1rW,, in the aMregx�,te to Vte zmun of Four Million, Nine llurulred
sad Mnty-five Thousand Dollars ($4,929,000.00), issued, for the pur�,*se
of makial permanent city iijaprovewwents by constructing, Improving and ex-
tandIng Me streets, thorousUares awl stann �.,mutkrs of SELid, City, inaltul,-
tng in suab J!'cavamleat improvements the
loving, greAe separation, a,nd draimLf of said streets and tIavrough,-
fares, and acqulrlmg the neceseary, landr,,a t1w;refar, under, Euid by vixtue of
the corlstit'wtlian luad, ]jwm of the State of 'Pexas, the Charter of the City
of Fort WoUb, ead sin ordinance lawfully passed and �,,%dopted by the, N-ty
Ctnincil ar the City of Fort Worth, pursuant ta valid authorllW from the
pr~,,,,rj,,a erty taxpay1a,ug qualifl.ed VOters of •ald City', at as jnnotderi rtrO, legal
election hold an -Um 11th day of Septe,,,,iber, A. D. 1951.
It is herdby furtber ealressly represented,, ree.`Lte4l and, cr,!�vei,,aated
by tbe goverraaent of the 1.11,ty of Fort ,Jortli, 'tr) and, wi:th e-ach auul evier�,-
holder of said bonds or eari one of tkiam, that all acte, conditions and
thing@ required by-the Constitution Fu,,Ld ly,,,tws of 11m S,Uatet of 'tang, 1-111d
Q the Obarter and Urdinances of the Ulty of Fort Worth, precedent to and,
In the Isswince of tble t*nd,, Mve been done, h,,xve, hag,,mnied, and lkhvave 'been
performed In proper and lawful time, fwrm mnd mmner fas prescribed by law,
so A's to mitt, th"I's bond as legal, bAarling and valld oblIgation of the City
of Fort Worth, mad that prow,'Lsian tuts been and e fcw the levy, any.], collec,tiq,)n
of a.direct manuaL tax an all taAbla prqperty In the City of Fort Worth,
ujvt such tzx has been luvied A M SUMBOUt MMMMA fOr the payment
of the princisel aM Interest of thle boR a,t t1x., resj,,>ect1vP waturity dates
t1wroof4land that bho toUtl Indditedoese of said any, inalmUng this banki
Y
of "Which it Is a cagownt pwt,, d oes not exceed any
autl.,Qzu,o, Or MMAM00a.
!, the City of Fort faxth, in the State of Texas,
IN y �,IVOVNR
aLl.0 bond by cauwinFe, It to lie ai;med try :Lts 1,hyor, at tee teqJ,
fpprovad as tf,) for�m 4uid. by V.11M CitY
intpl, Ims
owased the vmwmed Inteayst coqjvas 'to be ececuted wiUL the, facsimile sig-
x1aturps Of the Nkx'Yxxr an& Cltwy Ser,,,,rptm!r,,,y, and has caused this bond to lbe
dated, ii&si tlu,� first day of March, A. V. 1956.
CI77—OF FORT WCRTH, TEXAS
RTTEST:
fief rataxV
(FCMM 0V COUPON NOTS)
The City of Fort Worth, in the State of Teams, promises to pay to
Bearer on the Ist day of
19 at The Hanover Bank, in the Borough of.Man-
hattan, City an(I Stqglre of Jjew Ycrrk, for interest dot that day on its
Street Improvement Bond, Series A, dated March 1, 1956, and numbered
CITY OF FORT WORTH, ITZMA0,
'PAY
Mayor
IM EST:
City secretary
(CEMPICATE aTj,
OPPICE OF COMPTROLIM,
STAM OF TEXAS.
I do hereby certify that there is on file and of record in uy office
a certificate of the Attoimey 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 obligation upon
said City of Fort Worth, :fur,-)Taus, aad said bond has this day been registered
by me.
WITINM8 my Immid axvi seal of office, at Austin, Texas, this the
day of A. D. 19
abaptroller of Public Recounts
of the State of Texas
(CE10TIFICAIS OF CITY AMORNEY)
The within bond is hereby aFprovedas to form and legality.
MT-A-itlraey
crey OF FORT lei(OTH
STROT I14,111,012,06"NT BOM
INAT, klARCH 1, 1956
DVE RARCH lat PRI1^)CITla1 I'llkTURIEIG
1957 $197,000-00
l'ya 19,y)OO.00
1959 197,000-00
1 9, 170mv.00
1961 1;g ,1)011..00
1963 Igy,000.00
4 Igy,000.00
1965 17(,o0o.00
.L966 lyf,000.LOYI
ILc,67 1:r(,coo.fX)
197,000.00
1969 197,0c)0.00
19pto 197,OOD.00
1971 1!�rj"000.00
2.9p 197,000-00
1973 197P000.00
1974 1,97,000.00
1975 1" 9,000.Oyl)
1 76 197,000-00
1977 197,000.00
1978 191(,cXY).00
1979 I);;T,ow.oo
1.980 197,000.00
1981 197,000.OX)