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HomeMy WebLinkAboutOrdinance 1904 r ORDINANCE N0. AN ORDINANCE AMENDING SECTIONS 1 AND 2 OF ORDINANCE NO. 1902, PASSED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH* TEXAS, ON WEDNESDAY, THE 18TH DAY OF MARCH, A. D. 1936, SO AS TO PROVIDE THAT THE BONDS DESCRIBED IN SAID ORDI- NANCE SHALL START MATURING IN NUMERICAL ORDER FIVE (5) YEARS INSTEAD OF SIX 'j'6) YEARS FROM THE DATE THEREOF; THAN FOUR THOUSAND DOLLARS ($4,000.00) WORTH OF SAID BONDS SHALL MATURE IN 1941 AND THAT FIVE THOUSAND DOLLARS ($5,000.00) IN- STEAD OF NINE THOUSAND DOLURS ($9,000.00) WORTH OF SAID BONDS SHALL MATURE IN 1942; PROVIDING FOR THE REPEAL OF PRO- VISIONS IN CONFLICT HEREWITH; AND PRO- VIDING THAT THIS ORDINANCE SHALL BE IN FULL FORCE AND EFFECT FROM AND AFTER THE DATE OF ITS PASSAGE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION I. That Sections 1 and 2 of Ordinance No. 1902, passed at a regular meeting of the City Council of the City of Fort Worth, Texas, on Wednesday, the 18th day of March, A. D. 1936, be and the same are hereby amended and, after being so amended, shall read as follows : SECTION I. That the municipal government of the City of Fort Worth issue its corporate negotiable coupon bonds in the principal sum of Three Hundred Forty Thousand Dollars ($340,000.00), this amount being in addition to the One Hundred Fifty Thousand Dollars ($150,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 23rd day of October, A. D. 1929 and which ordinance was amended by an ordinance lawfully passed and adopted on the 4th day of December, A. D. 1929; in ad- dition to Six Hundred and Fifty Thousand Dollars ($650,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 7th day of May, A. D. 1930; in addition to Six Hundred Thousand Dollars (4600,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted on the 21st day of January, A. D. 1931; in addition to Fifty-five Thousand Dollars ($55,000.00) worth of said bonds, said bonds be- ing the ones sold out of the issue of One Hundred Thousand Dol- lars ($100,000.00) worth of said bonds authorized to be issued by an ordinance lawfully passed and adopted on the 13th day of Jan- uary, A. D. 1932; and also in addition to One Hundred Twenty Thousand Dollars ($120,000.00) worth of said bonds heretofore is- sued by an ordinance lawfully passed and adopted on the 4th day of December, , A. D. 1935, in lieu of bonds numbered from fourteen hundred fifty-six (1456) to fifteen hundred seventy-five (1575), inclusive, which were withdrawn from registration and cancelled by the Comptroller of Public Accounts of the State of Texas on the 29th day of January, A. D. 1936. All of said bonds above de- scribed were issued and sold out of an authorized issue of Two Million Dollars (42,000,000.00), authorized to be issued at a pro- per election held on the 25th day of June, A. D. 1929, and which bonds are known as Series 56, and designated as "Street Improve- ment Bonds. " That the bonds so to be issued shall be in the de- nomination of One Thousand Dollars ($ 1,000.00) each, dated April 1, 1936, bearing interest at the rate of three and one-half per cent (3-1/2%) per `annum, payable semi-annually on the first day of April and October of each year respectively, both principal and interest of the said bonds being payable at the Central Han- over Bank and Trust Company, in the City of New York, State of New York, the semi-annual interest being evidenced by interest coupons attached thereto, all of said bonds to be executed for and on be- half of the City of Fort Worth by the Mayor thereof, attested by its City Secretary', with the seal of the City thereon duly im- pressed, but the interest coupons to be executed with a litho- graphed facsimile signature of the Mayor and City Secretary of the City of Fort Worth. Each of said bonds shall be negotiable and payable to bearer, and said bonds shall be numbered in the way and manner hereinafter set out, maturing in numerical order five (5) years from the date thereof and annually thereafter until the last maturing bond shall become payable within thirty (30) years from the date thereof, and the bonds themselves, three hundred forty (340) in number, shall be numbered consecutively from fifteen hun- dred seventy-six (1576) to nineteen hundred fifteen (1915) , in- clusive, and shall mature in the amount and manner hereinafter set out. Said bonds shall be used for the purpose of making- permanent improvements by constructing, extending and improving the streets, thoroughfares and storm sewers of said City, and including in such permanent improvements the straightening, widening, paving, grade separation and drainage of said streets and thoroughfares. That the general form of said bonds and the coupons thereto an- nexed and the interest added to said bonds shall be executed sub- stantially in the following form: NO. UNITED STATES V610000. OF AMERICA STATE OF TEXAS, COUNTY OF TARRANT SERIES 56 CITY OF FORT WORTH Street Improvement Bond of the City of Fort Worth issued for the purpose of making permanent improvements by constructing, improving and extending the streets, thoroughfares and storm sewers of said City. KNOW ALL MEN BY THESE PRESENTS: That the government of the City of Fort Worth, a muni- cipal corporation, duly created under the laws of the State of Texas, hereby acknowledges itself to owe, and for value received promises to pay to bearer, ONE THOUSAND DOLLARS ($10,000) in lawful money of the United States of America, on the lst day of April, A. D. 19 , together with interest thereon at the rate of three and one-half per centum (3-1/2%) per annum, payable semi- annually on the first day of April and October in each year, on presentation and surrender of the annexed interest coupons, as they severally fall due. Both the principal and interest of this bond are payable at the office of the Central Hanover Bank and Trust Company, in New York City, New York, and for the due and punctual payment of this bond at the maturity thereof, and the in- terest thereon, when it falls due, the full faith, credit and re- sources of the City of Fort Worth are hereby irrevocably pledged. This bond is one of a series of three hundred forty (340) bonds numbered consecutively from fifteen hundred seventy-six (1576) to nineteen hundred fifteen (1915), inclusive, each of the denomination of One Thousand Dollars ($1,000.00) , amounting in the aggregate to the sum of Three Hundred Forty Thousand Dollars ($340,- 000.00), issued for the purpose of making permanent improvements by constructing, extending and improving the streets, thoroughfares and storm sewers of the City of Fort Worth, Texas, including in such permanent improvements the straightening, widening, paving, grade separation and drainage of said streets and thoroughfares, under and by virtue of the Constitution and laws of the State of Texas, the Charter of the City of Fort Worth, and an ordinance law- fully passed and adopted by the City Council of the City of Fort Worth, pursuant to valid authority from the property tax-paying qualified voters of said City, at a proper and legal election held on the 25th day of June, A. D. 1929. It is hereby further expressly represented, recited and covenanted by the Government of the City of Fort Worth, to and with each and every holder of said bonds or any one of them, that all acts, conditions and things required by the laws of the State of Texas, and of the Charter and Ordinances of the City of Fort Worth, precedent to and in the issuance of this bond, have been done, have happened, and have been performed in proper and lawful time, form and manner as prescribed by law, so as to make this bond a legal, binding and valid obligation of the City of Fort Worth, and that provision has been made to assess and collect annually a sufficient sum to pay the interest on said bonds and creating a sinking fund of at least two (2) per cent thereon and that for such purpose a tax has been levied on all taxable property of the City of Fort Worth in an amount sufficient for the payment of the prin- cipal and interest of this bond at the respective maturity dates thereof, and that the total indebtedness of said City, including this bond and the issue of which it is a component part, does not exceed any constitutional or statutory limitation. IN TESTIMONY WHEREOF, the City of Fort Worth, in the State of Texas, has executed this bond by causing it to be signed by its Mayor and attested by the City Secretary, with the seal of the City thereunto duly impressed, and has caused the annexed in- terest coupons to be executed with the facsimile signature of the Mayor and City Secretary, and dated as the lst day of April, A. D. 1936, CITY OF FORT-WORTH, TEXAS yar ATTEST: City 3ecFetary (FORM OF COUPON NOTE) NO. The City of, Fort Worth, in the State of Texas, promises to pay to bearer 1 U ), on the first day of , at the Central Hanover Bank and Trust Com- pany in the City of New York, New York, for interest due that day on its Street Improvement Bond, Series 56, dated April 1, 19360 and numbered CITY OF FORT WORTH, TEXAS or ATTEST: Ulty Secretary (CERTIFICATE OF COMPTROLLER) OFFICE OF COMPTROLLER, STATE OF TEXAS. I hereby certify that there is on file and of record in my office a certificate of the Attorney General of the State of Texas, to the effect that this bond has been examined by him as re- quired 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, Texas, and said bond has this day been registered by me. WITNESS my hand and seal of office, at Austin, Texas, this the day of , A. D. 1936. Comptr5lleF of Public Accounts of the State of Texas. SECTION II. That the said bonds so to be issued by the City of Fort Worth, amounting to Three Hundred Forty Thousand Dollars ($340,- 000.00) , in addition to the sum of One Million, Five Hundred Sev- enty-five Thousand Dollars ($1,575,000.00) of said bonds hereto- fore issued out of the said authorized issue of Two Million Dol- lars ($2,000,000.00) , shall be issued for the purpose of making permanent improvements in said City by constructing, improving and extending the streets, thoroughfares and storm sewers of said City, and including in such permanent improvements the straighten- ing, widening, paving, grade separation and drainage of said streets and thoroughfares, and shall consist of three hundred for- ty (340) bonds, numbered from fifteen hundred seventy-six (1576) to nineteen hundred fifteen (1915) , inclusive, and shall bear in- terest at the rate of three and one-half per cent (3-1/2 ) per annum, payable semi-annually as aforesaid, all of which said three hundred forty (340) bonds shall be known as Series #56 and shall be styled and designated as "Street Improvement Bonds`; that all of the said bonds comprising the sum total of Three Hundred Forty Thousand Dollars ($340,000.00) shall mature in numerical order in the manner and amounts as set out in the tabulated statement here- with attached, to wit: w CITY OF FORT WORTH PRINCIPAL MATURITIES 4340,000.00 STREET IMPROVE NT BONDS DATED APRIL 1. 1936 DUE APRIL IST PRINCIPAL MATURING 1941 40000.00 1942 5,000.00 1943 99000.00 1944 99000.00 1945 10,000.00 1946 109000.00 1947 10,000.00 1948 11,000.00 1949 112000.00 1950 110000.00 1951 12,000.00 1952 12,000.00 1953 130000.00 1954 13,000.00 1955 140000.00 1956 14,000.00 1957 150000.00 1958 15,000.00 1959 169000.00 1960 16,000.00 1961 17000.00 1962 170000.00 1963 18,000.00 1964 190000.00 1965 19,000.00 1966 200000.00 SECTION II• To the extent that the provisions of Ordinance No. 1902 are in conflict with this ordinance, they are hereby repealed, but in all other respects the terms and provisions of said Ordi— nance No. 1902 shall remain in full force and effect. SECTION III. This ordinance shall take effect and be in full force and effect from and after the date of its passage, and it is so ordained, Mayor of the y of PortMRS, Texas. ATTEST: My 1jecretary or the t=y of Fort Worth, Texas. APPROVED AS TO FORT AND LEGALITY: My AftoRey of the C1 y of Fort Worth, Texas.