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HomeMy WebLinkAboutContract 6014 EXECUTED CITY SECRETARY, ~%M-IRACT. No- Tvittrart anb Agmumut OFFICIAL, RECOR9 I CITY SECFTAR'� between FT. W RTI♦, TEX. I The CITY OF DALLAS, TEXAS and The CITY OF FORT WORTH, TEXAS Dated and Effective as of April 15, 1968 (Continuing, expanding and further defining the powers and duties of the Dallas-Fort Worth Regional Airport Board, creating the Joint Airport Fund of the Cities and providing for the construction and operation of the Dallas-Fort Worth Regional Airport) t THE STATE OF TEXAS KNOW ALL MEN BY THESE COUNTIES OF DALLAS/TARR.ANT PRESENTS: 04is Tanfrart Anb Agrremrn# (herein called this "Agree- ment"), entered into and effective as of April 15, 1968, by and between the CITY OF DALLAS, TEXAS, a municipal cor- poration acting by and through W. S. McDonald, its duly authorized City Manager, and the CITY OF FORT WORTH, TEXAS, a municipal corporation acting by and through Howard D. McMahan, its duly authorized City Manager; WITNESSETH - WHEREAS, the Parties hereto did, by Contract and Agreement made September 27, 1965, establish the Dallas-Fort Worth Reg- ional Airport Board as an interim board in anticipation of the cre- ation of a Regional Airport Authority when authorized by the Legislature and the electorate of each of the Counties of Dallas and Tarrant; and WHEREAS, in 1967 the Legislature of the State of Texas, 60th Session, passed an Act permitting the Counties of Dallas and Tar- rant to create the North Central Texas Regional Airport Au- thority, but as the result of elections held in each of said Counties on June 6, 1967, such Authority was not favorably voted by the voters of Dallas County; and WHEREAS, the Cities of Dallas and Fort Worth desire to pro- ceed with the development of the Regional Airport (some- times herein called the "Regional Airport" or the "Project" or the "Airport") already commenced by and between the two Cities, and to operate the Airport on a joint and regional basis pursuant to this Agreement and as provided by the laws of the State of Texas; Now, THEREFORE, in consideration of the premises and the per- formance of the mutual covenants and agreements by the parties 2 hereto, the City of Dallas and the City of Fort Worth (herein sometimes collectively called the"Cities") do hereby covenant and agree one with the other as follows,to wit: 1. ESTABLISHMENT OF THE BOARD The Dallas-Fort Worth Regional Airport Board (hereinafter referred to as the"Board") heretofore created by the Contract and Agreement of the Cities dated September 27, 1965, is hereby con- tinued, confirmed and established as the operating Board of Di- rectors for the Dallas-Fort Worth Regional Airport. The Board shall operate the Airport on behalf of the Cities pursuant to this Agreement and shall be composed of the number of members ap- pointed in the manner hereinafter set out, and shall have the fur- ther functions, powers and duties as hereinafter set forth. 2. BOARD QUALIFICATIONS Each member of the Board in order to be eligible for appoint- ment must be a citizen of and have resided within the City from which he is selected for a period of at least one (1) year immed- iately preceding his appointment, and must have been a qualified taxpaying voter within the State of Texas for a period of at least three (3) years immediately prior to the date of appointment. 3. COMPOSITION OF BOARD The Board shall consist of eleven (11) members, said number to be composed of seven (7) members from the City of Dallas and four (4) members from the City of Fort Worth, each to be ap- pointed by the respective City Councils of the Cities, such appoint- ment to be evidenced by a resolution. on file in the respective City. records. 3 4. TERMS OF BOARD MEMBERS Each Board member shall be appointed to occupy a designated place. Those initially occupying Places Nos. 1, 3, 5, 7, 9 and 11 shall be originally appointed for a term to expire on January 31st of the second year following their appointment, or until their successors are qualified; those initially occupying Places Nos. 2, 4, 6, 8, and 10 shall be originally appointed for a term to expire on January 31st of the fourth year following their appointment, or until their successors are qualified; provided, however, that no person shall serve for more than two (2) consecutive four-year terms. Each appointment after the initial appointments shall be for a four-year term. Places Nos. 2, 3, 7 and 8 shall be filled by appointments from the City of Fort Worth, and Places Nos. 1, 4, 5, 6, 9, 10 and 11 shall be filled by appointments from the City of Dallas. 5. ELECTION OF OFFICERS; MEETINGS Within fifteen (15) days after the appointment of the initial members, and annually during each February thereafter on a specific date set by the Board, the Board shall hold a meeting for the purpose of electing officers for the ensuing year,, and the transaction of such other business that may come before it. The Board shall hold at least one (1) public meeting each month and other public meetings as it may deem necessary for the transaction of its general business. 6. OFFICERS; QUORUM The Board shall organize by electing one of its members as Chair- man and another of its members as Vice-Chairman. The Board 4 shall designate a secretary to keep the minutes and records of the Board, who may or may not be a member of the Board itself. Any eight (8) members of the Board shall constitute a quorum and a concurrence of six (6) members shall be necessary for any official action taken by the Board. No vacancy in the membership of the Board shall impair the right of a quorum to exercise all of the rights and perform all of the duties of the Board. Any vacancy of the Board due to death, resignation or inability to act shall be filled for the unexpired term by appointment of another member by the City Council of the City from which the member was originally ap- pointed. - 7. MEMBERS COMPENSATION; REIMBURSEMENT The duly elected, qualified and acting members of the Board shall serve without compensation,but shall be entitled to reimbursement of actual expenses incurred in the performance of their official duties upon the approval of such expenses by the Board. 8. POWERS AND DUTIES The Board, in addition to other powers and duties herein con- ferred and miposed'or authorized by law, shall have the following powers and duties,to-wit: A. The Board may contract for such professional services as it may deem necessary and fix the time, manner and pay- ment therefor, and it shall employ and fix the compensation and duties of an Executive Director. Additionally, the Board may create and authorize such other administrative offices and employee positions as it shall consider appropriate in the planning, construction and operation of the Airport. How- 6 ' ever, the Executive Director shall be the chief administrative and executive officer of the Board and shall make recommen- dations to the Board in connection with the exercise of the powers granted to the Board under this Agreement. Addition- ally, a duty and function of the Executive Director shall be the selection and appointment of persons to fill such other offices and positions, except that such selections and appoint- ments shall be made by him based on a merit system estab- lished by the Board. Except as otherwise stated in- this ' paragraph regarding the creation of offices and positions and the establishment of a merit system for employees, neither the Board nor any of its committees or members nor any offi- cial of either of the Cities shall dictate or attempt to dictate the appointment of any person to, or his removal from, office or employment by the Executive Director or any of his sub- ordinates, or in any manner interfere in the appointment of officers and employees in the offices or positions of administra- tive service vested in the Executive Director. Except for the purpose of inquiry, the Board and its members shall deal with that part of the administrative service for which the Executive Director is responsible solely through such Director, and neith- er the Board nor any member thereof shall give orders to any of the subordinates of the Executive Director, either,publicly or privately. B. It shall be authorized to plan, acquire, establish, develop, construct, enlarge, improve,maintain, equip, operate, regulate, protect and police the Regional Airport, together with all air navigation facilities, airport hazards and land subject to this Agreement, and shall exercise on behalf of the Cities of Dallas and Fort Worth all of the powers of each with respect thereto and as may be authorized by this Agreement and by law. s. C. The Board in operating the Airport may enter into con- tracts, leases and other arrangements with any person, associ- ation of persons,firms, or public or private entities or corpora- tions for terms not exceeding forty (40) years, granting the privilege of using or improving the Regional Airport, or any portion thereof or space therein for commercial purposes; and may confer the privilege of supplying goods, commodities, things, services or facilities at the Airport or of making avail- able services to be furnished to or by the Board or its agents thereat. It shall establish the terms and conditions and fix the charges, rentals or fees for such privileges or services. D.The Board may contract with any person, firm or private or public entity or corporation for the planning, supervision, financing and construction of, or may itself construct or other- wise acquire, all structures or improvements which in its judg- ment are useful,necessary,desirable or convenient in efficiently operating and maintaining the Airport and facilities related thereto.The Board shall have full discretion as to the methods employed in the construction or acquisition of the Airport and facilities related thereto, subject to any requirements of this Agreement or imposed by law. It may provide for and enter into any operating agreements or agreements of lease with any person,firm or private or public entity or corporation for the operation or lease of such facilities, or any part thereof. The terms and conditions of such agreements shall be de- termined by the Board. E. The Board shall have the general power to enter into contracts subject to all of the statutory, legal requirements and restrictions applicable to the two Cities, expressly includ- ing when applicable the requirements and restrictions con- I 7 tained in Article 2368a, Texas Revised Civil Statutes. Such contracts shall— (1) specify the source of payment of any funds that are required to be expended by the Board pursuant to the contract; (2) be executed by action of the Board without further action by the Cities if the source of payment is from cur- rent and previously budgeted items as approved by the Cities; (3) be executed by action of the Board if the contract payments are to be made concurrently with the perfor- mance of services or delivery of goods in connection with the daily operations of the Board, or if they are payable from sums fixed by this Agreement or from some special fund which has previously been authorized or over which the Board has jurisdiction and control under this Agree- ment; (4) be submitted to the Councils of the two cities for ratification and concurrent tax levies in support of them or other lawful provisions for payment if the contract pay- ments are to be made other than concurrently with the rendition of services or delivery of goods in subsequent years and not from special funds already authorized or from sums fixed by this Agreement. All of the contractual requirements as hereinabove listed shall apply in respect of any leases, franchises or operating agree- ments which create a debt payable in future years. F. The Board shall have the power, by a duly adopted order, to adopt and enforce rules and regulations for the orderly, safe, efficient and sanitary operation of the Airport; to employ and constitute its own security force and peace officers; and .any member of such security force and any such peace officer or any county peace officer, shall have the power to make 8 arrests when necessary to prevent or abate the commission of any offense against any rule or regulation of the Board and against the laws of the State of Texas or the United States of America, when any such offense or threatened offense oc- curs upon any lands or facilities controlled and/or operated by the Board. The Board may prescribe reasonable penalties for the breach of any rule or regulation not exceeding more than Two Hundred Dollars ($200) fine. All such rules, regulations or orders shall become effective only upon approval of the governing bodies of the Cities of Dallas and Fort Worth, and after publication of a substantive statement of the rule or reg- ulation and the penalty for violation thereof, in a newspaper of general circulation in each of the Counties of Dallas and Tarrant. The notice shall state that a breach of the rule or regulation will subject the violator to the infliction of a pen- alty and shall state that the full text of the rule or regulation sought to be enforced is on file in the principal office of the Board where the same may be read by any interested party. Said rules and regulations properly authorized as herein set out and as provided by law, shall, after the required publi- cation, be judicially recognized by the courts the same as other valid penal ordinances of a city of this State. G. The Board shall provide for a suitable seal with the following letters upon its face: "DALLAS-FORT WORTH REGIONAL AIRPORT BOARD" The seal shall be used for the authentication of legal docu-, ments, contracts and other instruments, indicating the official action of the Board. 9 H. The Board shall have the general power to make and enter into all contracts, leases and agreements necessary or convenient to carry out any of the powers granted under this Agreement or by law, or that could be granted to it by the respective governing bodies of the Cities acting jointly. Any and all such contracts, leases and agreements and other legal documents herein authorized, shall be approved by resolution of the Board, and shall be executed by those individuals des- ignated in such resolution; and in absence of such designation, by the Chairman or Vice Chairman, and attested by the Sec- retary thereof. I. The enumeration of the particular powers in this Agree- ment shall not be held or deemed to be exclusive, but in addition,-to the powers enumerated herein, implied hereby or appropriate to the exercise thereof, the Board shall have; and may exercise all of the powers conferred or implied by the "Municipal Airports Act," Article 46d-1 to Article 46d-22, Texas Revised Civil Statutes, as the same presently exists or as it may hereafter be amended. J. The fiscal year of the Board shall commence October 1st and end midnight September 30th. Except for sums fixed by this Agreement, as specified in paragraph numbered 17 hereof, the total expenditures to be made in any fiscal year shall be determined by a budget submitted on a single standard form to the City Managers of the Cities of Dallas and Fort Worth on or before July 15 and approved by the governing bodies of such Cities on or before September 1st. The Board shall prepare and submit such a form to the Cities for approval as to form prior to the preparation of the initial budget. K.Each of the Cities hereto in signing this Agreement here- by certifies that it has agreed and the authority has been 10 granted for the institution of any and all condemnation or eminent domain proceedings that may be necessary for acquir- ing any lands or facilities useful or necessary in the develop- ment of the Regional Airport. The Board shall forward the information concerning the institution of eminent domain proceedings to the respective Cities requesting that the same be condemned either in the name of the City individually or in the name of the Cities jointly and the property so acquired shall be held by the City or Cities until conveyed to the Board. If the proceedings are in the name of the Cities jointly the property shall be held by the Cities prior to its convey- ance to the Board. In either event such properties shall be held subject to the provisions of paragraph 17.E. hereof. L. Except as otherwise herein provided, the board shall not dispose of any Airport or air navigation facilities or real prop- erty under its jurisdiction, or any of the rights therein, except with the consent of the governing bodies of the Cities, as hereinafter provided. M. The Board is authorized to apply for, accept, receive, receipt for, disburse, spend and repay Federal and State monies or monies from other sources, all in order to plan or accomplish in whole or in part any of the purposes of this Agreement. All Federal monies accepted by the Board shall be accepted and expended by the Board upon., such terms and conditions as are prescribed by the United States or any agency thereof and as are consistent with State law; and all State monies accepted under this provision, shall be ac- cepted and expended by the Board upon such terms and conditions as are prescribed by the State of Texas or any agency thereof making the grant. Unless otherwise prescribed by the agency from which monies were received, the Board 11 shall cause to be deposited and recorded all monies received pursuant to this provision and shall keep the same in the proper account within the Joint Airport Fund and the same shall be devoted to the purposes for which the monies were made available and shall be held in trust for such purposes. N. The Board shall be authorized to adopt such bylaws gov- erning itself and its operations and affairs as will not be incon- sistent with the provisions of this Agreement. 9. GOVERNMENTAL PURPOSE The acquisition of any land or interest therein pursuant to this Agreement, the planning, acquisition, establishment, development, construction, improvement, maintenance, equipment, operation, regulation, protection and policing of the Airport and air naviga- tion facilities, including the acquisition or elimination of airport hazards, and the exercise of any other powers herein granted, are hereby declared to be public and governmental functions exer- cised for a public purpose, and are municipal functions. All lands and other property and privileges acquired are hereby declared to be acquired for municipal, public and governmental purposes and as a matter of public necessity. 10. TREASURER In accordance with the procedures specified in this paragraph 10, the Board shall select, appoint and contract with a person to be known as the Treasurer for the Dallas-Fort Worth Region- al Airport Board. Such Treasurer shall have the custody of all of the moneys, funds, notes, bonds and other securities comprising a part of the Joint Airport Fund and committed to the control 12 and jurisdiction of the Board under this Agreement. The con- tract with the Treasurer shall be let to the highest and best bidder in accordance with detailed bidding procedures established by the Board in its discretion. The Board shall, within ninety (90) days after the execution of this Agreement, and biennially thereafter, advertise for bids for said contract, stating what said bids shall specify and the detailed bidding procedures and the terms upon the basis of which such bids shall be received. Said Treasurer shall give such bond and make such security as the .Board may require, conditioned for the faithful discharge of his duties. The Treasurer shall receive and securely keep all monies committed to him hereunder and make all disbursements from the same upon orders signed by such persons as may be author- ized by resolution of the Board; provided that no order shall be paid unless it shows upon its face that the Board has ordered its issuance. He shall render to the Executive Director and to the Board a full and correct statement of his receipts and pay- ments on or before the tenth (10th) day of each month and at such other times as the Executive Director or the Board may require, such statements to be made in such form as the Execu- tive Director may prescribe. The Treasurer shall perform such other acts and duties as the Board may prescribe. 11. CONFLICT OF INTEREST; REMOVAL No member of the Board or officer or employee thereof shall have a financial interest, direct or indirect, in any contract with the Board, or be financially interested, directly or indirectly, in the sale to the Board of any lands, materials, supplies or serv- ices, except on behalf of the Board as a member, officer or em- ployee thereof. Any violation of this provision by a member of the Board'shall be grounds for removal by a vote of two-thirds 13 (2/3rds) of the City Council appointing such member. Any vio- lation of this provision by an administrative officer or employee of the Board shall be grounds for removal by the Board or by the Executive Director. 12. EXEMPTION OF PROPERTY No execution shall be issued or levied by virtue of any judg- ment that may be recovered against the Board, but the Board may provide for the payment of judgments out of any funds on hand and uncommitted, or the .respective Cities may provide for the payment of judgments by the levying of taxes after the final recovery of any judgment. All lands, improvements, monies or debts due the Board, and all personal and real property and assets of every description administered by it, shall be exempt from execution and sale and from involuntary liens. No writ of garnishment or attachment shall issue against the Board, the members thereof or any employee to subject or seize any funds or property administered by the Board for any debt due, or which may hereafter become due, to any person or corporation, or to make any claim or demand upon the same. The Board shall stand in the same position as the constituent Cities and shall not be required to give any bond as security for costs, supersedeas or any other security in .any suit or action brought by or against it or in proceedings to.which it may be a party in any court in this State or the United States, and the Board shall have the remedies of appeal and writ of error to all courts without bond, supersedeas or security of any kind. No builders', materialmans', contractors', laborers' or mechanics' lien of any kind or character, shall ever attach to or become a lien upon any of the property, real or personal, administered by the Board, and no assignment of wages shall be binding upon or rec- ognized by the Board. i II I 14 13. ZONING REGULATIONS The Board shall have the power and authority to promulgate, adopt and enforce appropriate zoning regulations to protect the Airport and related facilities from hazards and obstructions which would interfere with the use of the Airport and its facilities for landing or taking off of aircraft, and for such purposes, shall be considered a political subdivision under the provisions of the "Air- port Zoning Act" of the State of Texas, as amended, and shall have all of the authority, power and jurisdiction delegated to a political sub-division thereunder. 14. ATTORNEYS FOR THE BOARD As required by their respective City Charters, the City At- torneys for the respective Cities of Dallas and Fort Worth are hereby authorized to furnish to the Board such legal assistance and to represent it in such legal matters as may be requested by the Board. 15. ANNUAL AUDIT The Board shall cause an audit to be made of its books and ac- counts at least once each year by an independent certified pub- lic accountant and furnish copies of the same to the respective Cities. 16. DURATION OF JOINT VENTURE The duration of the joint venture and joint undertaking creat- ed and evidenced by this Agreement shall be perpetual, unless sooner terminated and dissolved by operation of law or by mu- tual agreement of the Cities of Dallas and Fort Worth; provided, • 16. however, that the same shall not be dissolved by mutual agree- ment of the parties if such'action would violate the terms or pro- visions of any outstanding joint revenue bonds relating to the Project. 17. JOINT AIRPORT FUND A. For the purpose of accurately and adequately recording and accounting for the ownership, operations, and properties contrib- uted and committed by the Cities to the joint venture evidenced by this Agreement, and for the purpose of providing the Board with moneys for the necessary expenditures in carrying out the functions committed to it hereunder, the Cities hereby create a Joint Airport .Fund and direct that it, and all properties therein, shall be held, supervised and maintained by the Board subject to the terms of this Agreement. Within the Joint Airport Fund, the Board shall be authorized to create, designate and maintain such separate and special accounts and trust funds as shall be by it considered proper in the sound business management of its busi- ness and affairs. The Cities themselves, however, hereby create within the Joint Airport Fund the following special accounts and funds, to-wit: (1) An Initial Capital Contributions Account; (2) A Construction Fund; and (3) An Operating Revenue and Expense Fund. With respect to said special accounts and funds, the Board shall be authorized to substitute such designations as it may consider proper and to create within such special accounts and funds such special designations as may be appropriate, so long as the com- mitment of properties thereto in this Agreement shall be prop- erly reflected in any such successor accounts or funds. 16 B. The Joint Airport Fund shall be treated by the Board and the Cities as the master fund for accounting purposes in which shall be recorded and listed all properties of any nature initially and at any time thereafter contributed or committed by the Cities to the Regional Airport and at any time thereafter received by the Board from any source. Except as expressly directed in this Agreement, such properties and monies may be accounted for by the Board in such funds or accounts as it shall consider ap- propriate and reflective of the true intent and meaning of the parties hereto. C. Initial capital contributions of the Cities, and subsequent contributions for capital and operating purposes, shall be and are hereby committed to be made into and for the benefit of the Joint Airport Fund in accordance with the following provisions of this paragraph C, to-wit: (1) Initial Capital Contributions. For the purpose of ac- counting for the initial capital contributions of the Cities, the Cities create within the Initial Capital Contributions Account two special accounts, viz., Account A and Account B, and hereby initially contribute and promise and agree to contrib- ute to the joint venture evidenced by this Agreement, to the terms hereof, and to the jurisdiction of the Board the fol- lowimg.property, money and things of value, to-wit: (a) for recording in Account A— City of Dallas — (i) $799,240 in advance planning, engineering and other incidental expenses previously paid by City and applicable to the Project; (ii) $2,831,605 in previously approved but not yet received grant funds, all applicable to the Proj- ect; and 17 (iii) $418,395 for land and engineering services heretofore purchased or acquired by it with federal grant funds. City of Fort Worth— (i) $670,683 in advance planning, engineering and other incidental expenses previously paid by City and applicable to the Project; (ii) $2,831,605 in previously approved but not yet received grant funds, all applicable to the Project; (iii) $418,395 for land and engineering services heretofore purchased or acquired by it with federal grant funds; (iv) $128,557 in cash funds from sources lawfully available for the purpose. (b) for recording in Account B— City of Dallas — (i) $520,827 in cash funds from sources lawfully available for the Project; and (ii) $1,825,514 in land heretofore acquired by said City and allocable to the Project. City of Fort Worth= (i) $297,6 .5 in cash funds from sources lawfully available for the Project; and (ii) $5,893,499 in land heretofore acquired by said City and allocable to the Project. (c) agreed contribution ratio — It is agreed and ac- knowledged by the Cities that,except for the contributions reflected above for initial recording in Account A, all pres- ent and future contributions to this joint venture from whatsoever source and all ownership of properties of the Regional Airport shall be in the proportions specified in paragraph D,(2), below. It is acknowledged by the City of I 18 Dallas that Account B will not and does not reflect initial contributions to Account B in such ratio on the effective date hereof and that the objective of this paragraph (c) is to obligate and commit the City of Dallas to make addi- tional initial contributions and payments for recording in Account B so as to cause said Account to reflect the ratio to be achieved at the earliest practicable date. To that end, the City of Dallas acknowledges that it now has on hand $2,180,669, being the amount remaining unexpended from the proceeds of that part of its General Obligation,Various Purpose Bonds, Series 429, dated March 1, 1968, allocable to the Regional Airport. The City of Dallas hereby com- mits, covenants and agrees with the City of Fort Worth that it will hold and appropriate said funds for the sole and exclusive purpose of financing the cost of additional land for the Project, which land will be acquired in ac- cordance with the provisions of paragraph (d),next below. The City of Dallas further acknowledges that it now has an additional $3,500,000 of voted but unissued general ob- ligation bonds which may be used in connection with the Project and that said bonds may be lawfully issued at any time after May 26, 1968.The City of Dallas, therefore, agrees that it will at the earliest time after such date as municipal bond market conditions will reasonably permit, issue such additional, voted bonds, and from the proceeds thereof— (i) the City of Dallas shall acquire a proportionate interest in the lands heretofore purchased from bond or general funds by the City of Fort Worth and con- tributed by it to Account B and reflected above. Such acquisition shall be accomplished"by the �ayment by the City of Dallas directly to the City of Fort Worth the sum in cash of $1,604,252, being the amount necessary to cause the City of Dallas' contribu- tions theretofore made to Account B, plus the amount above committed by Dallas to future land purchases and plus the amount committed by Dallas to land purchases in (ii), next below, to equal 7/11ths of the total amount theretofore con- tributed by both Cities to Account B, plus the above amount committed by the City of Dallas to fu- ture land acquisitions and plus the amount to be com- b 19 witted by said City for future land acquisitions in (ii),next below. Upon receipt of such payment by the City of Fort Worth, that City's initial land contribu- tions to Account B reflected in (b), above, shall be reduced by an amount equal to the amount of such payment and the City of Dallas' initial land contribu- tion thereto will be increased by an amount equal to such payment. (ii) the City of Dallas shall hold and appropriate $1,895,748, being the balance of such $3,500,000, for the sole and exclusive purpose of financing future land acquisitions for the Project, such acquisitions to be made in accordance with the provisions of paragraph (d),below. (d) future project land acquisitions—It is acknowl- edged by the Cities that land additional to that described, committed and contributed in (b), next above, will be re- quired to complete the construction and equipment of the Regional Airport and related facilities, the precise amount and location of such.additional land being incapable of determination and description at the time of the execu- tion of this Agreement. However, it is agreed by the Cities that such amount of land will be acquired as will permit the orderly construction and operation of a regional air- port generally of the size and scope contemplated by the over-all preliminary plan approved by the Cities as herein required prior to the issuance of point revenue bonds. This Agreement shall not be construed as an absolute commitment to acquire the quantity of land contemplated by said over-all preliminary plan if the Board shall deter- mine that a lesser quantity will nevertheless permit the orderly planning, development and construction of an effi- cient, operating self-sustaining and self-supporting re- gional airport of a size and scope sufficient to produce the revenues necessary to operate and maintain the facilities and to pay the principal and interest on all joint reve- nue bonds issued in connection therewith. Such future land acquisitions may be made in any manner permitted by law, including purchase, lease or otherwise, and may consist of such estates or other interests in land as the Board shall consider necessary to fulfill the agreements 20 specified next above. The acquisition, financing and re- cording in the Joint Airport Fund of future land acqui- sitions made by purchase shall be made in accordance with the following provisions of this paragraph, to-wit: (i) The Board, from time to time after the date hereof and with due dispatch, shall submit to the Cities a schedule of needed land acquisitions which it considers necessary to fulfill and honor the above commitments of the Cities to acquire future land. The Cities agree for the benefit of the holders of their joint revenue bonds, and each City agrees for the benefit of the other, that if it shall be reasonably de- terminable that the schedules thus submitted from time to time by the Board are consistent with the over-all preliminary plan theretofore approved by the Cities, the Cities will approve such acquisitions and will diligently undertake and pursue such steps as may be necessary to acquire the land requested by the Board (or as requested and reasonably modified by the Cities), including resort to such legal methods of acquiring such lands as may be available or re- quired. (ii) In connection with the financing of such future land acquisitions, the City of Dallas agrees that until such time as funds committed by it to that purpose have been exhausted, as specified in paragraph (c), next above, it will finance all such future land acqui- sitions when and as thus requested by the Board. When such funds have been actually paid by the City of Dallas for such purposes, appropriate entries shall be made in Account B increasing its initial land con- tributions to such Account. During the period follow- ing the execution of this agreement during which the City of Dallas is financing all of such acquisitions, the City of Fort Worth shall have the right to requisition the City of Dallas pursuant to this paragraph for the payment of land acquisitions when and as funds are needed by it for the purpose, it being the present in- tention of the parties that acquisitions in Tarrant County will be made by the City of Fort Worth and acquisitions in Dallas County will be made by the City of Dallas. It is provided, however, that both 21 Cities co-ordinate their actual land acquisitions with the City of Dallas so as to assure that purchase or other commitments coincide with the availability of funds for the payment thereof pursuant to the com- mitment of the City of Dallas contained in this�para- graph. (iii) From and after the date upon which the City of Dallas advises the City of Fort Worth and the Board that the funds committed by it to future land acquisitions has been committed or expended for that purpose,,the Cities agree that land acquisitions made thereafter shall be financed on the basis of 7/11ths of the costs and related expenses thereof by the City of Dallas and 4/11ths thereof by the City of Fort _ Worth.Each City agrees that,when and as the Board submits the land acquisition schedules contemplated above, it will resort to such lawful and practical meth- ods of financing its share of such acquisitions as may be reasonably available to it. The Cities, however, shall coordinate their financing programs so as to pro- vide funds expeditiously and within the time needed for orderly development of the Project. It is provided, however, that if either of the Cities should request that a part or all of future land acquisitions be fi- nanced through the issuance of joint revenue bonds, they shall notify the Board of this fact, and such bonds, if reasonably practicable, shall be utilized as the method of financing the future land acquisitions then under consideration, and the Board shall forth- with undertake the issuance of joint revenue bonds for that*purpose pursuant to the provisions of this Agreement relating thereto, or it may allocate by percentage (or other appropriate allocation) a por- tion of other joint revenue bonds to the purchase of such land. If future land acquisitions are financed by the funds of the Cities other than joint revenue bonds, their acquisition shall be recorded in Account B. Land acquisitions financed by joint revenue bonds shall be recorded in any account or fund with- in the Joint Airport Fund considered by the Board to be appropriate, except that such acquisitions shall not be recorded in Account A or Account B. If the 22 Cities, by use of funds other than joint revenue bond funds, cause Account B commitments and contri- butions to be in a ratio other than 7/11ths for the City of Dallas and 4/11ths for the City of Fort Worth' then, at the end of the land acquisition program, the deficient City shall,within a reasonable time and from lawfully available funds, pay a sum in cash to the other City necessary to cause Account B to be proper- ly adjusted and appropriate adjustments shall be made therein reflecting such payments. It is provided that if the Board shall ever have on hand any grant funds (either heretofore approved but not yet re- ceived or hereafter approved and received) which are dedicated to be used for land purposes, such funds shall be furnished to the Cities for use for such pur- poses when and as needed therefor. (e) future grant funds—A.11 future grant funds from any source approved and received after the effective date hereof shall be recorded in the Construction Fund or any other account or fund within the Joint Airport Fund (other than Account A or Account B) which the Board considers appropriate. (f) dates and bases of commitments and contributions— The land initially contributed to Accounts A and B shall be deemed committed by the Cities, respectively, on the effective date hereof to the extent then owned or rightly possessed by each contributing City. All future land ac- quisitions shall be deemed committed to this Agreement upon acquisition of the right to possession thereof, and shall be recorded in the proper account within the Joint Airport Fund (other than Account A) when the cost there- of has been determined, except that future land acquisi- tions from grant funds shall be reflected by proper ad- justment entries in the appropriate accounts changing the nature of the Joint Airport Fund asset from cash to land. The cash funds initially committed and contributed (other than grant funds approved but not yet received) to Ac- count A and Account B shall be actually delivered to the Board and shall become a part of the Joint Airport Fund not later than the 30th day after the effective date of this Agreement. Grant funds approved but not received shall be delivered to the Board upon receipt. The entries of 23 land and any other purchased properties recorded in any account within the Joint Airport Fund shall be made on the basis of the cost thereof (including related expenses of acquisition). Entries of all other items listed above shall be on the basis of the amount thereof as above stated. Other entries shall be made on the basis determined appropriate by the Board. (g) additional initial cash contributions—It is contem- plated by the Cities that the initial cash capital contribu- tions made and promised to be made in this paragraph (1) will be sufficient to furnish the Board with mon- ies to continue with the preliminary planning for the es- tablishment of the Regional Airport. It is aclmowledged, however, that such cash funds will not be sufficient to com- plete such planning or to commence actual construction for the Project, and, therefore, that additional funds will be needed immediately and continuously thereafter for such purposes and the completion of construction thereof. It is* further contemplated by the Cities that such addi- tional funds may be obtained through the issuance of the joint revenue bonds herein elsewhere further described, which will be secured by and payable from— (i) the rentals or income derived from leases or contracts (which bonds may be designated as special facility or special facility common fund bonds); and/ or (ii) the general gross or net revenues to be received from the general operations of the Regional Airport when the same becomes operative (which bonds may be designated as general revenue bonds) ; and/or (iii) such additional sources as the Cities might agree upon or this Agreement might require. However, if, prior to the issuance of any such bonds, the Board shall need additional funds with which to continue such planning, then the Cities agree to furnish such fiends on the basis of 7/11ths by the City of DaLas and 4/11ths by the City of Fort Worth, in such total amounts as may be required and authorized by the Cities. Such contribu- tions shall be reflected in Account B within the Initial Capital Contributions Account. I� U. (h) expenditures of initial cash contributions—Ex- penditures of cash within the Initial Capital Contributions Account may be made by the Board for such purposes as it shall consider proper, including purposes consistent with its obligations expressed in paragraph F, below, without the necessity of preparing budgets with respect thereto for approval by the Cities, such sums being toy the parties hereto fixed according to the terms of this agreement within the meaning of Article 46d-14(d) (1) and (2). (2) Capital Contributions from Bond Funds. It is agreed by the Cities that the funds for the completion of planning and the actual construction of the Project shall be obtained by the issuance of the joint revenue bonds above contemplated and de- scribed. It is further agreed that in order to accomplish the issuance of such revenue bonds the City Councils of the Cities shall pass and enact such bond authorizing ordinances and re- lated proceedings, pursuant to such terms and methods and having such effect as are provided by the laws of Texas'appli- cable to the Cities with regard to the issuance of joint revenue bonds in the names of the two Cities for airport purposes. All such ordinances and proceedings shall be prepared, processed, and made effective in such manner as will permit the joint issu- ance of bonds authorized, executed, sold and delivered pursu- ant to concurrent actions and proceedings of the Councils of both Cities and their officials as authorized by law. Prior to the issuance of the first series of any such bonds, the Board shall .prepare and present to the respective Councils of the Cities an over-all preliminary plan for construction of the Regional Air- port contemplated by this Agreement, which plan shall be general in terms and shall contain by general description a statement of the initially contemplated size and scope of the Project and related land utilization. After the approval of such over-all preliminary plan by both Cities, the Board by reason thereof, and without the necessity of other City action regarding plans and specifications, shall then be authorized to proceed with the financing, constructing and equipping of the Project through the issuance of joint revenue bonds and according to final plans and specifications approved by the Board. Such bonds may be issued in one or more series, as the Board shall determine, and shall be issued at such times as the Board shall request. Each such series or issue of bonds 25 shall be prepared, approved and issued in substantially the following manner, to-wit: (a) The Board. based upon financial, engineering and legal advice obtained by and available to it, shall seek and obtain the preparation of a proposed ordinance to be adopted concurrently by the Cities, which ordinance shall be prepared in such manner as shall be capable of adop- tion by both Cities and shall be identifiable as to each City by an ordinance number corresponding to the numbering system.employed by each City. Such ordinance shall con- tain substantially the following and such other provisions as the Board shall consider appropriate: (i) the date, denomination, maturity dates and re- demption provisions of such bonds; (ii) provisions substantially to the effect either (A) that such bonds shall be secured by and payable solely from a joint Cities pledge of the gross or net revenues derived from the operation and control of the Regional Airport and from time to time on deposit in a separate pledged revenue account within the Joint Airport Fund, and/or (B) from named specific revenues or rents from leases or contracts, or from a common fund thereof to be created, as-the case may be; (iii) provisions substantially to the effect that the pledge of each of the Cities, respectively, of the reve- nues specified pursuant to paragraph (ii),next above, shall be junior and subordinate, as to each respective City's interest therein, to any prior pledge of •the same revenues for airport purposes for any outstand- ing airport revenue bonds of each City, respectively, by the terms of which its share of the revenues de- rived from the Regional Airport is already pledged to the payment of such outstanding bonds if any such prior pledges exist; (iv) provisions reserving the right in the City of Dallas to issue senior lien revenue bonds for exten- sions and improvements to its:Red Bird and Love Field airports, and reserving the right in the City of Fort Worth to issue senior lien revenue bonds for ex- 26 tensions and improvements to its Airport System (other than the Regional Airport). (V) provisions reserving the right to issue parity additional bonds upon such terms as the Board shall consider appropriate; and (vi) provisions specifying the purchaser or pur- chasers of such bonds and specifying the terms of sale thereof. (b) Upon the preparation thereof, said ordinance shall be submitted to the City Attorney of each respective City for his review. If each shall find that the same is lawful in all respects and in conformity with this Agreement, he shall present the same at the next meeting of his City Council for adoption, and said ordinance shall be passed and adopted by each such City Council and such bonds shall be issued in accordance with the tern-is of sale and of said ordinance. (c) Such bond ordinance may contain such other pro- visions as may be appropriate and may contain provisions different or in variance with the foregoing, and if so, then this Agreement shall be deemed amended to the extent of such variance. (d) Upon the sale and delivery of and payment for such joint revenue bonds, the Board shall deposit the pro- ceeds thereof into a special bond proceeds account within the Construction Fund, and such proceeds shall for all purposes be considered and treated as between the two Cities as-having been received by eacli acid in tfnt con- tributed to said Fund in the proportion of their respec- tive interest therein as stated in paragraph D. (2), below. Such proceeds shall be devoted by the Board to the pur- poses for which such bonds were issued. The amounts-in said separate account shall be considered as fixed under this Agreement for such purposes within the meaning of Article 46d-14(d) (1) and (2), and the Board shall be authorized to enter into such contracts payable there- from and to exercise such other powers in respect thereto as each City itself could enter into and exercise if its proportionate share of such proceeds were deposited in 27 its separate funds and were under its separate jurisdic- tion and control apart from this Agreement, all without further action or approval of any such expenditures or any budget relating thereto by either,of the Cities. (3) Contributions On Account of Revenue Bonds Issued for Land Acquisitions. (a) The Cities, one for the benefit of the other, and both Cities for the benefit of the holders of the Cities' joint revenue bonds, agree that if they shall ever issue joint revenue bonds for the purpose of acquiring land for the Project (or if they shall include land acquisition pur- poses among the purposes included in any multi-purpose is- sue(s) of such bonds)', then, effective for the fiscal year be- gm=g October 1, 1972, and in each year thereafter during which all or any part of such bonds shall be outstanding, the Cities shall contribute to the Joint Airport Fund, on the basis of 7/11ths by the City of Dallas, and 4/11ths by the City of Fort Worth, an amount equal to the total prin- cipal, interest, reserve and other special fund requirements, maturing or to become due or payable in each year, respec- tively, on or in respect of any joint revenue bonds issued for the purpose of acquiring land for the Project, and/or the percentage or allocable part of such principal, interest and fund requirements on or in respect of the percentage or allo- cable part of any multi-purpose joint revenue bonds allo- cated to such land purchases. To the extent a debt is or may be created by virtue of the provisions of this paragraph (a), each City, respectively, in the ordinance authorizing this Agreement has levied and hereby levies and agrees to levy and collect an ad valorem tax sufficient to pay any such debt each year wrxen due and to provid.e a.sinking fund in an amount not less than 2% thereof each year. It is provided, however, that the Cities, respectively, in lieu of the levy and collection of such tax may use any funds it may otherwise have on hand which are lawfully available for the purposes of this para- graph (3). (b) Such funds shall be used first by the Board for such purposes and in such manner as will assure that the princi- pal, interest and fund requirements of such land purchase joint revenue bonds will be met and any surplus amounts shall be applied to the general budget requirements of the Board which are approved by the Cities in the manner con- 28 templated by paragraph 4(a), next below, and any surpluses in revenues or net profits created because of the contributions required by paragraph (a), next above, shall be subject to distribution in the manner provided in paragraph 4(b), next below, except that all distributions of surplus revenues or profits arising by reason of the contributions required by this provision shall be on the basis of 7/11ths to the City of Dallas and 4/11ths to the City of Fort Worth. (c) For the purposes of this paragraph (3), "land" shall include real property and any improvements and other tang- ible or intangible properties acquired in connection therewith. (4) Contributions for Maintenance, Operation, Regulation and Protection of Regional Airport. (a) Revenues and Prof- _ its — Subject to the terms and provisions of any outstanding bonds of each of the Cities requiring otherwise and subject to any covenants contained in any ordinance authorizing joint revenue bonds, each of the Cities hereby covenant one with the other that all revenues received by the Board from the operation of the Regional Airport and any other facilities un- der the jurisdiction of the Board shall be received and depos- ited to the credit of the Operating Revenue and Expense Fund as received. However, as between the two Cities, such revenues shall be deemed to have been received by each City to the ex- tent of the proportionate interests in said Fund stated in para- graph D.(2), below, and shall automatically and without fur- ther action be deemed then to have been contributed to the Operating Revenue and Expense Fund in the same propor- tions, and neither City shall have the right to withhold such contributions. Expenditures from said Fund may be made by the Board for any purposes authorised by law hi connection with its business and affairs. The total expenditures'from said Fund to be made in any Fiscal Year shall be set forth in a budget submitted to and approved by the Cities to the extent required by Article 46d-14(d) (1) and (2). However, the ap- proval of the Cities of any item contained in annual budgets made by the Board shall not be withheld if such are for pay- ment of principal or interest due on outstanding joint revenue bonds or if such are payable from revenues generated by Air- port operations or from sources other than those which must be provided directly by the two Cities. Nor shall such ap- proval of items to be payable from sources provided direct- 29 ly by the two Cities be withheld if such will interfere with the orderly conduct of Airport operations. (b) Distribution of Net Profits — No distribution of net profits of the Regional Airport shall ever be made if such action would violate the terms, covenants and provisions of any lawful agreement of the Board or of any ordinance au- thorizing joint revenue bonds or any other airport revenue bonds of either of the Cities. At any other times and to the extent not in violation of any such covenants, the Cities act- ing jointly may require the distribution of net profits to the Cities, but neither of the Cities acting independently shall be authorized to require any such distributions. Subject to the provisions of paragraph (3) (b), next'above, all net profits, when distributed, shall be distributed to each City in equal amounts until such time as each City, respectively, has from all sources, including prior distributions of net revenues, re- couped an amount equal to the amount of its initial capital contribution reflected in Account A within the Initial Capital Contributions Account. From and after such recoupment, net profits shall be distributed to the Cities on the basis of their respective ownership of Regional Airport properties as speci- fied in D. (2),below. (c) Distribution of Net Losses — So as to protect the con- tractual and financial integrity of the Board and of the Joint Airport Fund, the Cities hereby covenant and agree that if at the end of any year, it shall be determined that the Board has not or will not receive sufficient revenues and income with which to meet its contractual obligations and undertakings, other than such obligations as may be by their terms payable from some specific or special find, the Cities will each, from sources lawfully available to each, make up such deficiency, the amount of such contributions on the part of each City, respectively, to be the mathematical product of its interest in Regional Airport properties, as specified in paragraph D.(2), below, times the total amount of such deficiency each year and such contributions shall be reflected in such accounts within the Joint Airport Fund as the Board shall consider appropriate. Additionally, from and after the effective date of this Agree- ment, the Cities, one for the benefit of the other, and both for the benefit of interested third parties, hereby covenant to con- struct and to continue the due and proper operation of the 30 Regional Airport by g d s to the Bo ard which, with t he revenues abv e contemplated, will be sufficient to provide f or su ch operations, and the extent deb t is or may be crea te d by virtue of e provisions f this paragraph (c), each City r esp e c respectively,M the 0� n c ea u th 0 � .m t this Agreement has levied and hereby le vies and agr e es to levy an ad valorem tax sufficient to pay any such debt each year when due and to provide a sinking fund in amount not less than 2% thereof each year. (d) Additional Operating Expense Contributions — T he Cities expressly agree that 'during each year in which joint revenue bonds are outstanding and as a supplement to the pledge of revenues for the payment of such bonds, they will levy, collect and pledge to the payment of operation and main- tenance expenses of the Regional Airport such part of the tax authorized to be levied by Article 1269j-5.2 as from time to time amended as may be necessary to cause revenues to be sufficient to pay and meet the principal, interest and fund re- quirements for said outstanding bonds. When and as such tax shall be levied and collected, the Cities shall deliver the funds thus received to the Board and the contributions thus made shall be deposited to the credit of the contributing City in the Operating Revenue and Expense Fund as received by the Board. The Cities each agree that the tax pledged herein shall not be pledged, levied or collected for any other purposes of the Cities, except that if the total amount of such tax shall not be required in any year, then the Cities shall be authorized to utilize the amount not required for other lawful City pur- poses on a year-by-year basis. To the extent the tax herein pledged by each City.shall. have heretofore been pledged to another pledge thereof by either City, the pledge and agree- ment herein contained shall be subject and subordinate to such prior pledge. D. The ownership of the properties, monies and assets from time to time comprising the Regional Airport and reflected or accounted for in the Joint Airport Fund shall be as specified in the following provisions of this paragraph D, to-wit: (1) Properties in Account A within Initial Capital Contri- butions Account. All properties, monies and assets from time 31 to time credited to or held in Account A of the Initial Capi- tal Contributions Account shall be owned jontly by the Cities on a fifty-fifty (50-50) basis. (2) Other Properties and Monies in Joint Airport Fund. All other monies and properties committed to the terms of this Agreement and comprising a part of the Joint Airport Fund, expressly including those reflected in Account B of the Initial Capital Contributions Account (from and after the date re- spective initial contributions are made therein in the propor- tions specified below), the Construction Fund and the Op- erating Revenue and Expense Fund, shall be owned jointly by the respective Cities in the following proportions, to-wit: City of Dallas 7/11ths of the whole City of Fort Worth 4/11ths of the whole E. Notwithstanding the proportions of ownership of the vari- ous properties comprising the Joint Airport Fund, as -stated in paragraph D, next above, and notwithstanding the nature of re- corded ownership of properties, as contemplated in paragraph, 8.K. hereof, all of such properties, monies, and assets (irrespec- tive of the account therein in which listed) comprising a part of the Joint Airport Fund shall be and are hereby declared to be at all times owned by the Cities in undivided interests and shall be subject to the jurisdiction of the Board under this Agree- inent, and neither- of the Cities' shall -haVi3' the' right ot Power' by unilateral action to impair or obligate anticipated revenues or properties of the Regional Airport or to deal in or with any such properties independently of the other City. The Board, in the ex- ercise of other powers granted hereunder, shall have the same rights, powers, privileges and duties with respect to all of such properties as the contributing City would have if such properties had not been committed to this Agreement, including the ex- press power of leasing such properties to others and/or construct- 32 ing such improvements thereon as the Board considers proper, subject to such other limitations as may be contained herein. Pro- vided, however, that no mortgage lien shall ever be granted by the Board or by either City upon any property subject to its juris- diction hereunder. No real or other properties comprising a part of the Joint Airport Fund shall ever be sold, irrespective of the account in which carried, if such action would violate the terms of any outstanding bonds relating to the Project, or any lawful- agreement of the Board, and when no such violation would occur no such sales shall be made except by mutual agreement of the Cities. In the event of any such sales, the proceeds therefrom - shall be deposited or utilized by the Board as directed by any outstanding applicable bond ordinances, and, if no directions ex- ist therein, then such proceeds shall be deposited to the Operat- ing Revenue and Expense Fund. Upon dissolution of the joint venture evidenced by this Agreement at the end of its term, by mutual agreement of the parties or by operation of law, the prop- erties shall be partitioned as may be then agreed by the Cities, failing which the properties shall be sold with the net proceeds, after payment of all debts of the venture, first applied to the pay- ment of any amounts due the Cities as reflected in Account A within the Initial Capital Contributions Account, and, second, distributed.to the Cities an.the.proportion of their ownership of other properties as specified in paragraph D.(2), above. F. From and after the effective date of this Agreement, the Board shall assume,undertake,perform and fulfill all contractual commit- ments heretofore assumed and entered into by the Cities for services or properties (except the land to be acquired by the Cities as a part of their initial capital contributions) and related in any manner to the Regional Airport, and shall honor and carry forward all contracts or agreements heretofore entered into 93 by the Board while operating under and pursuant to the Agree- ment between the Cities dated September 27, 1965. All payments of money on account thereof shall be made from the cash funds on hand in the Initial Capital Contributions Account (unless they are expressly payable from other sources) until the cash therein shall be exhausted, and thereafter from whatever suitable fund or account within the Joint Airport Fund the Board shall consider proper and truly reflective of the nature of the expenditure and the intentions of the parties hereto. 18. ENTIRETY OF CONTRACT This Contract and Agreement supersedes the Contract and Agreement between the same parties made and executed Septem- ber 27, 1965, which initially established the Dallas-Fort Worth Regional Airport Board, and constitutes and represents the entire agreement of the parties hereto as of the date hereof. Any agree- ments supplemental hereto or amendatory hereof shall, to be effec- tive and binding, be evidenced and represented by agreements in writing approved, executed and delivered in the same manner as this Agreement. SEVERABILITY In the event any section, part or provision of this Agreement should be held invalid, unconstitutional or inoperative, such fact shall not affect the validity of the remaining sections, parts or provisions hereof, but the remainder of this Agreement shall be given effect as if said invalid, unconstitutional or inoperative section, or part of a section or provision had not been included. 34 ENTERED into and effective as of the date first above written, and executed in multiple originals on this th@;)3k8day of . Q�. ............1 1968, by the respective officers of the constituent Cities as hereunto authorized. CITY OF DALLAS W. S.McDonald, City Manager ATTEST- Submitted to City ,attorney ------------- [SEAL] City Secretary C NED: aty itor P; S TO FORM. CiO Attorney CITY OF FORT WORTH F , Howard D. McMahan, City Manager ATrEw 4 ' ! z_----- [SEAL] C ty ecretary APPROVED AS TO FORM AND LEGALITY: City Attorney as THE STATE OF S COUNTY OF .. BEFORE ME, the undersigned authority, in and for Tarrant County,Texas,on this day personally appeared Howard D. McMa- han, City Manager, and R. A. Bateman, City Secretary, respec- tively, of the City of Fort Worth, Texas, known to me to be the persons whose names are subscribed to the foregoing instrument and known to me to be respectively, the City Manager and City Secretary of the City of Fort Worth, a municipal corporation, and each acknowledged to me that he executed the same for the pur- poses and consideration therein expressed and in the capacities therein stated, as the act and deed of said City of Fort Worth, Texas GIVEN UNDEJZ MY HAND and seal of office, this thei?,i day of ..........�, 1�-�-f Notary ublic in and for said ounty and State" (SEAT.,) THE STATE oF TExAs COUNTY OF ........... BEFoRE ME,the undersigned authority, in and for Dallas County, Texas, on this day personally appeared W. S. McDonald, City Manager, and Harold G. Shank, City Secretary, respectively, of the City of Dallas, Texas, known to me to be the persons whose names are subscribed to the foregoing instrument and known to me to be respectively, the City Manager and City Secretary of the City of Dallas, a municipal corporation, and each acknowl- edged to me that he executed the same for the purposes and con- sideration therein expressed and in the capacities therein stated, as the act and deed of said�City of Dallas,Texas. GIVEN UNDER My HAND and seal of office, this the V�" day of .............:.,1968. W. L. STOREY Notary Publ in and for said County and State (SEAL)