HomeMy WebLinkAboutOrdinance 7505 CITY OF DALLAS ORDINANCE
CITY OF FORT WORTH ORDINANCE
NO. 751)5
(Series 1971, No. 11,395)
An ordinance passed concurrently by the City
Councils, respectively, of the cities of Dallas and Fort
Worth, authorizing the issuance of a $5,000.00 replacement
bond to replace bond number 11,395 of Dallas-Fort Worth
Regional Airport Joint Revenue Bonds, Series 1971 and
resolving other matters relating to the subject.
WHEREAS, the Cities of Dallas and Fort Worth
by ordinance passed concurrently on February 10, 1971,
authorized the issuance of and sold their Dallas-Fort
Worth Regional Airport Joint Revenue Bonds, Series 1971,
in the aggregate principal amount of $75,000,000.00,
and dated March 1, 1971; and
WHEREAS, one bond of the above described Series
of bonds, to-wit:
Bond Numbered 11,395 in the denomination of
$5,000.00 and bearing interest at the rate of
6.75% per annum, payable semi-annually on each
May 1, and November 1, (Interest Coupon No. 7
and subsequent coupons appertaining thereto
unpaid) and maturing November 1, 2000
is outstanding and unpaid ; and
WHEREAS, an affidavit in due form verified
by Doris Chortek, affiant, to the effect that Dallas-Fort
Worth Regional Airport Joint Revenue Bond , Numbered 11,395
in the aggregate amount of $5,000.00, Series 1971, was
destroyed, lost or stolen from the residence of Doris H.
Chortek, 7805 N. Pheasant Lane, Milwaukee, Wisconsin, 53217,
the owner of such bond, during the month of August, 1974, has
been received and is on file in the offices of the Director
of Finance of the Dallas-Fort Worth Regional Airport,
and such affidavit has been accepted by the City Councils
of Fort Worth and Dallas as sufficient evidence that
the above described securities have been destroyed, lost
or stolen within the meaning of Article 715a of the Revised
Civil Statutes of Texas, and a certified copy of such
affidavit is attached hereto as a permanent part hereof;
and
WHEREAS, the loss occurred prior to Coupon
Number 7 coming due on November 1, 1974, and therefore
neither said coupon nor any subsequent coupons have been
presented for payment; and
WHEREAS, the owner of said bond and appurtenant
coupons desires that a replacement bond be issued to
replace the aforesaid destroyed, lost or stolen bond
and appurtenant coupons; and
WHEREAS, by Acts 1965, of the 59th Legislature,
of the State of Texas, Chapter 334, commonly known as
Article 715a of the Revised Civil Statutes of Texas,
the City Councils of Dallas and Fort Worth are authorized
to issue without an election a bond to replace any bond
theretofore lawfully issued which is outstanding and
which has been destroyed, lost or stolen, provided that
such replacement bond may be issued only upon indemnification
satisfactory to the issuer and upon an affidavit or other
form of evidence satisfactory to the issuer establishing
proof of ownership and the circumstances of the loss,
theft or destruction of the bond for which a replacement
bond is being sought; and
WHEREAS, lost Securities Indemnity Bond No. SMR 329
9834 dated April 15, 1975, and executed by Doris H. Chortek,
as principal and by The American Insurance Company as surety
has been received and is on file in the office of the Director
of Finance of the Dallas-Fort Worth Regional Airport and
such Indemnity Bond is acceptable to the City Councils
of Fort Worth and Dallas as sufficient indemnity under
the provisions of Article 715a of the Revised Civil Statutes
of Texas, and a certified copy of such Lost Securities
Indemnity Bond No. SMR 329 9834 is attached hereto as a
permanent part hereof;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL
OF THE CITY OF DALLAS, TEXAS:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL
OF THE CITY OF FORT WORTH, TEXAS:
Section 1. That there is hereby authorized to
be issued a replacement bond to replace Bond Number 11,395
of Dallas-Fort Worth Regional Airport Joint Revenue Bonds,
Series 1971. Said replacement bond and the interest coupons
appertaining thereto shall. be in the same form and in all
respects of like tenor and effect as said Bond Number 11,395
and the interest coupons appertaining thereto, except that
such replacement bond and the interest coupons appertaining
thereto shall be signed manually, or in facsimile, as provided
by law, by the proper officials holding office at the time
of the issuance, and that no interest coupon shall mature
prior to November 1, 1974, and that only Interest Coupon
No. 7 and subsequent interest coupons shall be attached to
said replacement bond.
Section 2 . That said replacement bond shall
be dated March 1, 1971, which is the date of the destroyed,
lost or stolen bond.
Section 3 . That said replacement bond and all
interest coupons appertaining thereto shall have the letter
"R" preceding the Bond Number and following the Interest
Coupon Number.
Section 4. That after said replacement bond
has been executed, it shall be the duty of the Chairman
of the Board of Directors of the Dallas-Fort Worth Regional
Airport Board or some officer, employee or attorney of
the Board acting through authority from him, to deliver
said replacement bond to the Attorney General of Texas
for examination and approval. After approval by the Attorney
General of Texas, said replacement bond shall be delivered
to the Comptroller of Public Accounts of the State of Texas
for registration . The replacement bond thus registered
shall remain in the custody of the Chairman of the Board,
or subject to his order, until the delivery thereof to
the owner of the original bond being replaced thereby.
Section 5. That the Comptroller of Public Accounts
of the State of Texas is hereby authorized and directed
to register the replacement bond in the same manner as
the original bond was registered, giving it the same reg-
istration number as the original bond, except that such
number shall be preceded by the letter "R". The Comptroller
shall date his registration certificate as of the date
of registration of the replacement bond .
Section b . That all provisions of the ordinance
adopted by the City Councils of the Cities of Dallas and
Fort Worth on the 10th day of February, 1971, authorizing
the Series of bonds of which said destroyed, lost or stolen
bonds is a part and which are not in conflict with this
ordinance are hereby adopted by reference and shall be
a part of this ordinance.
Section 7. That the preparation and adoption
of this ordinance by the City Councils of Fort Worth and
Dallas and the adoption of the Resolution recommending
same by the Board of Directors of the Dallas-Fort
Worth Regional Airport and the performance of each
and every, all and singular, the acts ordered hereby
and all acts or expenditures incidental thereto shall
be at no cost to the City of Fort Worth, the City
of Dallas or the Dallas-Fort Worth Regional Airport
and shall be borne entirely and be the sole liability
of Doris H. Chortek the owner of said above described
destroyed, lost or stolen security who has requested
the issuance of a replacement security as provided
herein.
Section 8. This ordinance may be executed
in counterparts, and when duly passed by both Cities,
and separate counterparts are duly executed by each
City, the ordinance shall be in full force and
effect.
FEB 28 1977
PASSED AND CORRECTLY ENROLLED ,
1977 .
May—or
City of. Dallas, Texas
(Seal)
ATTEST:
City Secretary P`o Ea: ^
City of Dallas, Texas CORRECTLY E;ir-;LLE 4. ._ 7, - ,-
i.c_:
APPROVED AS TO FORM: ATTEST: C+tY Attorney
Rob:rt S. S-an
City Secrctary
CTI&y At orney
City of Dallas, Texas
PASSED VL4A , Z z_ 1977 .
'Mayor
City f Fort Worth, Texas
(Seal)
ATTEST:
CY0 Secretary
City of Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
V �
City Attorney
City of Fort Worth, Texas
FORM OF CERTIFICATE
I, Frances Moore, Staff Secretary of the Board of Directors
of the Dallas-Fort Worth Regional Airport, do hereby
certify that the foregoing Affidavit of Ownership, attached
hereto, is a true and correct copy of the original of
said document on file in the records of the Dallas-Fort
Worth Regional Airport.
Frances Moore, Staff Secretary
Board of Directors
Dallas-Fort Worth Regional Airport
(Airport Seal)
I, the lmder::igned, do hereby cotif i-rm that I am the sole owner of the
fol-k-wLng se-,!.ritles: $5000.00 Dallas Fort Worth Airport-19'TI Series
6.75',','� due .11/1/2000, Certificate ff-11395, 'ird includi:7 Novembr-r 1. 1974
,-,.nd r subsequent _ upons, and tm,t on Au'C,;Af;t 28, 19'T4, the above
d(',-;, I bon I wa.. oien "I'L"M U sa my x,,-. ;_ ence c�i ,)1,5
71heac.-:i:-7 Lara_-, Milwaukee Wisconsi-_- 53^1"i
I herc-�-:v cer-t.-Ify tlaat the :,hove s'L-Ltemen+s are tru(_ arid correct:
Doris H. Churtek
Signed �Lrid se7-.led this dnY of L, czjk'6 C_ 1975.
Not,jLry Public , State of Wisconsin
FORM OF CERTIFICATE
I, Frances Moore, Staff Secretary of the Board of Directors
of the Dallas-Fort Worth Regional Airport, do hereby
certify that the foregoing Lost Securities Bond, attached
hereto, is a true and correct copy of the original of
said document on file in the records of the Dallas-Fort
Worth Regional Airport.
G
Frances Moore, Staff Secretary
Board of Directors
Dallas-Fort Worth Regional Airport
(Airport Seal)
BOND IJO. SMR 329 9834
LOST SECURITIES BOND
KNOW ALL MEN 13Y TI1PSF PRESGi`ITS, That
Doris H. Chortek
As Principal (hereinafter called "Principal") , and THE AFRICAN
INSURANCE COMPANY a corporation under the laws of the State
New Jersey Newark
Of having its principal office at •
New Jersey as Surety Wreina fter called "Surety") ,
are held and firmly bound unto First National Bank of Fort Worth
City of Fort Worth, City of Dallas and the
Dallas-Fort Worth Regional Airport Board
their respective legal representatives, successors and assigns
(hereinafter collectively called "Obligee:,") in r_ceo separate sums
as follows:
1. Li a dated T7amac?es. In the unpaid face amount of the
hereinafter deserihed security together with the unpaid interest
coupons attached thereto, which said race amount of Me security
is determined and agreed to be Five Thousand and N011ooths --------
($5.000.00 ) and which clic} amount of mvpaid interest coupons is
determined and agreed to he Eight'Thousand Seven Hundred Seventy-Five and
No/100ths -------- 8)775.00 ) mak i t?sT a cpm} i ned kota 1 of Thirteen :
thousand'Seven hundred �eventy-Five and N0110 a mj-i 11 d t
($13,775.00 )
which said combined Thirteen-Shousand Seven Hundred Seventy-Five and_NO/100ths--
Dollars ($ 13,775.00, total is hereby declared to be dire
and payable to Obl:icle es as .ticlu`i<lat ed claVanes at such time as
said hereinafter described security or one or more of the inter-
est coupons which were originally a ttachvd thereto is presented
for payment to Obligees or any of them.
Said amount of liquidated damages shall be paid within 15
days of the date on which obligeos or any of them deliver to
Surety a verified statement that the said hereinafter described
security or interest: courons or any of Mom has been presented to
Obligees or anV of them for payment. If :,ai<: amount of liqui-
dated damages .is not paid within 15 days as aforesaid, Principal
and Surety are furLhor bound to pay to Obligoe s an additional
sum, also as liquidated. damages, equal to 25 of Me com}iined
total of liquidated &amagns as hcrc inabovo sat ouL in words and
figures. -ail nAdVional _,um Ming to rcimhui sc obligees for
attorneys fees and/or cNpense of collection.
2. Offen Pc halt. As open penalty, in the amount of all
liabilities, losses, damages, costs, charges, counsel fees (in-
/6lud.ing attorney Ecco �,:;d e:;pens :s actually incurred in callec-
titAtion of this bond, but Hiis amount: shall l)e reduced by attorney
fees paid as lir{uidate(I damages under preceedinq paragraph_)
and other e�_pens�s,oE e•-•ory nature and rharar'-.nr by reason of
the paying or crediting; of said horeinaft.or dr'scribocl ,security
or attached into.rest cot:pon, or any of tliom t:hot:t 'same being
then and there presented ana surrendered.
Ear.h of said amounts, neige] the ] it{uirlat:, d damarles and open
penalty as (lescribecl al)n•rc, sl:;ll. he pn_aLlc ;rt la�,Iful money of
the Ignited States of Amorica t_n nbl.iger-s, t'te r reF;rect:i.ve, legal
renresentativ-es, succrssnrs or a,nir]ns, as in!-�Irest: may appoar. ,
for evhich pavmc nt, wall ane: trial-., to ho made, the PA incipa.l and
Surety,hind tltew'selvos, ,:?�ei.r re:;pectivc' hr. ir:., legal representa-
tives, successors and issigns, jointly and so--rally, firmly by
these presents.
SEALED .,ith our seals and executed in Four (4) counterparts
this 15th da N, of April 19 75
WHEREAS, the Pr.incipnl ronresrnt:s that t:he Principal is the owner
Of $5,000 Dallas-Fort Worth Airport Bond, 1971 series 6.75% due November 1, 2000
Lost Certificate U 11395, Bearer Form, Owner: Mrs. Doris H. Chortek
and that the sante has bean mislaid, lost., st-nlr:n or clestroyecl and
cannot be found or produ^t,d, b} �-irtize of +rh rh the. princi.pat
has requestecd the Oi>lidec:; to isr:ue to Princ•irral or ':o Prinr_ i-
pal's order a new or clupl i cite instrtnment. o 'nstruzfonts, or
to pay to Principal or .:.-.crit to Principal 's :?rCOunt. tho face
amount of same without st;rrender t.hereo:' i-or ^ancellation; and
WHEREAS, on the faith of the foregoing reprc:;rntatinns and in
consideration of this 1,onl of indcmnit:y, t.h(- have com
pli?d or agreed to rompl,.- wi tli said request-.;
NOW, TITEPEPOP,E, TITS CONDTTTn'iS OF TTITs nTIT,TC'.-,l'T0N Ar'I;, that i.f.
the Principal, the Iteir�7, .lecral representavi c s, sttr^essors or
assigns of t.ite Principal, or any of them, sh,:l l in rasa the mis-
laid, lost, stolen or dc,troyed original or originals hr., found
or come into the. hands or pcn,:er of any of t l,-nm, or into the hands,
custody or power of any r,nrson, deliver or c:-use the same to be
delivered unto the 011licreos in order to I,o c.-tncelled, and shall
also at all times indemni fy and r i,-c,. harmless- t:h(- Ol%ligoes from
and against any and all claims, act ions and :-nits %.•bother ground-
less or otherwise, and from and ajainst any nrl all li,-:1)ilitics,
losses, clamaRes, coF,.s, c°,arr,es, counsel ;e(, and other e}:penses
of-every nature and rhar<.^ter y mason at t ' r said mislaid,
lost, stolen or riesi roved original or .-; the i ssu-
ance of a dimlicate (-)r clu:,licater. in licit thol—of or the paying
or ._regi'.. na of Clic F` tie :;o.rrr. of the nrir,i, al r)r cy:-ir;'nals
out snrrrnder thereof, hit? er of not caus:0(I has(xl :)on or
arisings out of ina:' ,-erterce, acc•idcnt, o-or: i.rht. or ne•-1(-ct nn
the part of the 01)14 cos c,r theii respert i t ^ c, ficern, <.7ontr;,
Clerks and employnes angor emirrien or failure to inquire into,
:'+contest or litigate Lho right of any applicant to receive any
payment, credit, transfer, registration, e_:chnngc or delivery
in respect of the original or originals anal/or the duplicate
or duplicates i;,;,gpd in lieu thereoE, and/or caused by, baser]
upon or arising out of any other matter or thing whgtsoever, than
this obligation sWOrll be void; otherwise shall remain in full
force and ef£c±ct.
i
Venue of any action brought: hereunder dull lie hereunder in
Tarrant County, Tmas. t ,
Doris H. Chortek, Principai
THE AMERICAN INSURANCE COMPANY
Surety
By:
A tt arney-i n-Pact
Susan M. Veit,
GERIERAL
POWER OF' .
ATTORNEY
THE AMERICAN INSURANCE COMPANY
SNOW ALL MEN BY THESE PRESENTS: That THE AMERICAN INSURANCE COMPANY, a Corporation duly organized and existing
underthe laws of the State of New Jersey, and having its Home Office in the City and County of San Francisco, California, has made,
constituted and appointed, and does by these presents make, constitute and appoint
Susan M. Veit of Milwaukee, Wisconsin
its true and lawful Attorney(s)-in-Fact, with full power and authorit hereby conferred in its name, place and stead, to execute seal,
acknowledge and deliver any and all bonds, undertakings, reeognizanees or other written obliga-
tions in the nature thereof
.I
and to bind the Corporation thereby as fully and to the same extent as if such bonds were signed by the President, sealed with the
corporate seal of the Corporation and duly attested by its Secretary, hereby ratifying and confirming all Thal the said Attorney(s)-in-
Fact may do in the premises.
This power of attorney is granted pursuant to Article Vlll, Section 30 and 31 of By-laws of THE AMERICAN INSURANCE COMPANY
adopted on the 71h day of May, 1963,and now in full force and effect.
"Article VIII, Appointment and Authority of Resident A,sistant Se octrics, and Attorney,-in-Fact and Agents to accept L,9-1 Prot,„ end Make
Appcarencu.
Section 33. Appointment, The Chairman of the Board of Directors,the President,any Vice-President or any other person authorized by the Board
of Directors,the Chairman of the Board of Directors,the President or any Vice-President,may,from time to time,appoint Resident Assistant Secretaries and
Allot neysan-Fact to represent and act for and on behalf of the Corporation and Agents to accept legal process and make appearances lot and on behalf of
the Corporation. ,
Section 31. Authority, The Authority f such Resident Assistant Secretaries, Attorneys-in-Fagt, and Agents shall be as prescribed in the instrument
evideneng their appointment, and any such appointment and all authority granted thereby may be te�oked at any time by the Board of Directors or
by any person empowered to make such appointment.'"
This power of attorney is signed and sealed under and by the authority of the following Resolution adopted by the Board of Directors
of THE AMERICAN INSURANCE COMPANY at a meeting duly called and held on the 28th day of September, 1966, and that said
Resolution has not been amended or repealed:
'RESOLVED, that the signature of any Vice-President, Assistant Secretary, and Resident Assistant Secretary of this Corporation, and
the seal of this Corporation may be affixed or printed on any power of attorney, on any revocation of any power of attorney, or on
any certificate relating thereto, by facsimile, and any power of attorney, any revocation of any power of attorney,or certificate bearing
such facsimile signature or facsimile seal shall be valid and binding upon the Corporation." '
IN WITNESS WHEREOF, THE AMERICAN INSURANCE COMPANY has caused these presents to be signed by its Vice-President,and its
corporate seal to be hereunto affixed this 5th day of June 1974
THE AMERICAN INSURANCE COMPANY
estin coyBy
JAMES H-WELLS,Vice President
STATE OF ILLINOIS, l
COUNTY OF COOK fS as.
On this 5th day of June _ 19 74 ,before me personally came JAMES H.WELLS,to me known,who,
being by me duly sworn, did depose and say: that he is Vice-President of THE AMERICAN INSURANCE COMPANY, the Corporation
described in and which executed the above instrument; that he knows the seal of said Corporation: that the seal affixed to the said
instrument is such corporate seal; that it was so affixed by order of the Board of Directors of said Corporation and that he signed his
name thereto by like order.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, the day and year herein first above written.
NOTA Y
PUBLIC
MARY A.GIUDIC G,Notary Public
�Oo+coutt `tiV My commfsslon expires October q, 1977
CERTIFICATE
STATE OF ILLINOIS,
COUNTY OF COOK JS ss
1. the undersigned, Assistant Secretary of THE AMERICAN INSURANCE COMPANY, a 14EW JERSEY Corporation, DO HEREBY CER-
TIFY that the foregoing and attached POWER OF ATTORNEY remains in full force and has not been revoked; and furthermore that
Article VIII, Sections 30 and 31 of the By-laws of the Corporation, and the Resolution of the Board of Directors, set forth in the Power
of Attorney, are now in force.
Signed and sealed in the County of Cook. Dated the �,' f day of
........................... ......... .......V ....................................
J l':;k:f I(',t11:11i1N C'1:,Asslatunt:;a«el nr'i
350641—TA-1-7Q "
THE STATE OF TEXAS
COUNTY OF DALLAS
CITY OF DALLAS
I, Robert S. Sloan, City Secretary of the City of Dallas,
Texas, do hereby certify:
1 . That the above and foregoing is a true and correct
copy of the Concurrent Ordinance and an excerpt from the minutes
of the City Council of the City of Dallas, had in regular meeting,
February 28, 1977, authorizing the issuance of Dallas-Fort Worth
Regional Airport Joint Revenue Replacement Bond, Series 1971 in the
principal amount of $5,000, which Concurrent Ordinance is duly of
record in the minutes of said City Council .
2. That the persons named above, respectively, are the
duly chosen, qualified and acting officers and Council Members of
said City Council as indicated.
3. That sai.d meeting was open to the public, and public
notice of the time, place and purpose of said meeting was given,
all as required by Article 6252-17, V.A.C.S. , as amended.
WITNESS MY HAND and seal of the City of Dallas, Texas, this
28th day of February, 1977.
City Secretary,
City of Dallas, Texas
(SEAL)
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF FORT WORTH
I, Jack W. Green, City Secretary of the City of Fort Worth,
Texas , do hereby certify :
1 . That the above and foregoing is a true and correct copy
of an excerpt from the minutes and Ordinance No . 750.5 duly
presented and passed by the City Council of the City o Fort Worth,
Texas , at a meeting held on February 22 , 1977 , as same appears of
record in the Office of the City Secretary .
2 . That the persons named above , respectively, are the
duly chosen, qualified and acting officers and Council Members of
said City Council as indicated .
3 . That said meeting was open to the public , and public
notice of the time , place and purpose of said meeting was given , all
as required by Article 6252-17 , V.A.C .S . , as amended .
WITNESS MY HAND and the Official Seal of the City of Fort
Worth , Texas , this the 22nd day of February, 1977 .
CW Secretary ,
City of Fort Worth, Texas
(SEAL)
THE STATE OF TEXAS
COUNTY OF DALLAS
CITY OF DALLAS
The City Council convened in Regular Meeting on February
38 , 1977 , with the following present :
COUNCIL MEMBERS :
FOLSOM., HARRISON, MURR, NICOL, '8x , LEEDOM,
COTHRUM, SMITH, BLACKBURN AND CRAFT.
WITH THE FOLLOWING ABSENT:
Renfroe (absent from room)
Patterson
At which time the following among other business was transacted:
It was moved by Council Member Leedom and seconded
by Council Member Smith that the ordinance having the
following caption pass :
ORDINANCE NO. 15431
An ordinance passed concurrently by the City Councils ,
respectively, of the Cities of Dallas and Fort Worth,
authorizing the issuance of a $5 ,000.00 replacement
bond to replace bond number 11,395 of Dallas-Fort Worth
Regional Airport Joint Revenue Bonds , Series 1971 and
resolving other matters relating to the subject .
ROLL CALL ON MOTION:
Aye - Folsom, 1X 4&VW& , Harrison, Murr, Nicol, B ktbVA 4Xft(,
Leedom, Cothrum, Smith, Blackburn and Craft.
Nay -
Absent - Renfroe (absent from room) , Patterson
Carried - ordinance passed.
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF FORT WORTH
On the 22nd day of February, 1977 , the City Council
of the City of Fort Worth , Texas , convened in Regular Meeting
with the following members present, to-wit :
Clif Overcash, Mayor
Joe Bruce Cunningham
Jim Bradshaw
John J . O'Neill
Hugh Parmer Councilmen
Woodie W. Woods
Richard C . Newkirk
Henry A . Meadows
Mrs . Margret Rimmer
R . N. Line , City Manager
S . G. Johndroe , Jr . , City Attorney
Jack W. Green , City Secretary ,
with the following members absent : Mrs. Margret Rimmer
, with more than a quorum present , at
which time the following, among other things was transacted ,
to-wit :
Councilman lieadows introduced an ordinance
and moved that it be passed . The motion was seconded by
Councilman Newkirk The ordinance was read by the City
Secretary . The motion , carrying with it the passage of the
ordinance , prevailed by the following vote :
AYES : Mayor Clif Overcash and Councilmen Cunningham,
Bradshaw, O 'Neill, Parmer, Woods Newkirk, Meadows -I� c�ae�.
NOES : None .
ABSENT : -Neeae- Dirs. Rimmer
The ordinance , as passed , is as follows :
"LT�' City of Fort Worth, Texas
LINE /�
BAILIFF Mayor and Council Communication
GRAHAM
DATE REFERENCE SUBJECT: Concurrent Ordinance of the CitiS PAGE
IVORY NUMBER of Fort Worth and Dallas Authorizing th
2/22/77 G-3332 Issuance of a $5,000 Replacement Bond lof 1
to Replace Bond Numbered , o a as-
Fort Worth Regional Airport Joint Revenue Bonds,
Series 1971
Bond numbered 11,395 in the denomination of $5,000.00 bearing interest at the
rate of 6.756 per annum, payable semi-annually and maturing November 1,2000 is
presently outstanding and unpaid. Doris H. Chortek has 'filed an affidavit in
due form and verified that she was the owner of such bond in August 1974 and
that such bond was stolen from her residence at that time. This affidavit
is on file with the Director of Finance of the Dallas-Fort Worth Regional
Airport. Doris H. Chortek, as Principal, and The American Insurance Company,
as surety, have posted a Lost Securities Bond providing that liquidated damages
in the amount of $13,775.00 be paid within 15 days after delivery to the Surety
a verified statement that the above security or any interest coupon has been
presented for payment. This bond is on file with the Director of Finance of
the Dallas-Fort Worth Regional Airport.
The Dallas-Fort Worth Regional Airport Board by Resolution 76-055 adopted
May 4, 1976, requested and recommended that the City Councils of the Cities of
Dallas and Fort Worth pass an ordinance to authorize a replace bond for bond
numbered 11,395.
It is understood and agreed with the owner of the above bond that the prepara-
tion and adoption of this ordinance and the performance of each and every act
ordered by such ordinance and any act or expenditure incidental thereto shall
be at no cost to the City of Fort Worth, the City of Dallas or the Dallas-Fort
Worth Regional Airport and shall be borne entirely and be the sole liability
of Doris H. Chortek, the owner of the above described bond.
It is the opinion of the Department of Law that all required conditions pre-
cedent to the passage of this Concurrent Ordinance have been satisfied and that
the Lost Securities Bond is sufficient to indemnify the City of Fort Worth in
the event bond numbered 11,395 is ever presented for payment.
Recommendation
It is recommended that this Concurrent Ordinance be passed by the City Council
of the City of Fort Worth.
RNL:ms
SUBMITTED BY: DISPOSITIO BY COUNCIL: PROCESSED BY
APP
APPROVED
OPTED ORDINANCE Me
FIER (-7580 S �
CITY SECRETARY
DATE
CITY MANAGER �yZJ7 I