HomeMy WebLinkAboutOrdinance 2107 ORDINANCE NO. I r
AN ORDINANCE CONFIRMING THE PROCEEDINGS HERETO-
FORE TARN COVERING THE CALLING AND HOLDING OF
THE BOND ELECTION TO AUTHORIZE ONE MILLION, TWO
HUNDRED AND FIFTY THOUSAND DOLLARS ($1,250,000.00)
WORTH OF AIRPORT BONDS, ONE MILLION, ONE HUNDRED
AND TWELVE THOUSAND DOLLARS ($1,112,000.00) WORTH
OF STREET IMPROVEMENT BONDS, THREE HUNDRED AND
TWENTY THOUSAND DOLLARS ($320,000.00) WORTH OF
INCINERATOR BONDS, ONE HUNDRED AND SIXTY THOUSAND
DOLLARS ($160,000.00) WORTH OF GARAGE AND REPAIR
SHOP BONDS, AND ONE HUNDRED AND FIFTY-EIGHT
THOUSAND DOLLARS ($158,000.00) WORTH OF SANITARY
SEWER SYSTEM AND SEWAGE DISPOSAL PLANT BONDS;
VALIDATING THE NOTICE OF SUCH ELECTION AND THE
CANVASS AND RETURN THEREOF; CONFIRMING THE AU-
THORIZATION AND SALE OF ONE MILLION DOLLARS
($1,000,000.00) WORTH OF SUCH AIRPORT BONDS,
THREE HUNDRED AND FORTY THOUSAND DOLLARS (4340,-
00,00) WORTH OF SUCH STREET IMPROVEMENT BONDS
AND ONE HUNDRED AND SIXTY THOUSAND DOLLARS
($160,000.00) WORTH OF SUCH GARAGE AND REPAIR
SHOP BONDS; AND PROVIDING THAT THIS ORDINANCE
SHALL BE IN FORCE AND EFFECT FROM AND AFTER ITS
PASSAGE.
WHEREAS, by ordinance adopted February 12, 19412 the City Council
directed the submission at an election of propositions for the issuance of
One Million, Two Hundred and Fifty Thousand Dollars ($1,250,000.00) worth
of Airport Bonds, One Million, One Hundred and Twelve Thousand Dollars ($1,-
112,000.00) worth of Street Improvement Bonds, Three Hundred and Twenty Thou-
sand Dollars ($320,000.00) worth of Incinerator Bonds, One Hundred and Sixty
Thousand Dollars ($160,000.00) worth of Garage and Repair Shop Bonds, and One
Hundred and Fifty-eight Thousand Dollars ($158,000.00) worth of Sanitary Sewer
System and Sewage Disposal Plant Bonds; and,
WHEREAS, said ordinance further provided that said election should
be held on the 4th day of March, 1941, between the hours of seven otclock A• M.,
and seven otclock P. M., at the places named in such ordinance, and directed
that a copy of such ordinance signed by the Mayor and attested by the City
Secretary should serve as a proper notice of said election; and,
WHEREAS, said ordinance was thereafter duly published and posted
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in substantially correct form as such notice of said election, although the
signature of the Mayor was omitted from the ordinance as published in the
Fort Worth Star-Telegram, Evening, of February 14, 1941, and February 21,
1941; and,
WHEREAS, the said election was duly held and the result thereof
was duly canvassed and return made by the City Council at its regular meet-
ing of March 5, 19/.1; and,
WHEREAS, One Million Dollars ($1,000,000.00) worth of such Air-
port Bonds, Three Hundred and Forty Thousand Dollars ($340,000.00) worth of
such Street Improvement Bonds and One Hundred and Sixty Thousand Dollars
($160,000.00) worth of such Garage and Repair Shop Bonds have heretofore
and pursuant to such election been authorized by ordinances respectively
adopted on March 26, 1941; and,
YNEREAS, at the same meeting of March 26, 1941, pursuant to ad-
vertisement previously made, bids were presented by the City Manager for
such bonds, and the Council, upon motion, duly awarded the same; NOW, THERE-
FORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION I.
That the authorization, calling and posting and publication of
notice of such election of March 4, 1941, the canvass, examination and count-
ing of the returns of such election, and the declaration of the result there-
of, all as above recited, are hereby in all respects validated and confirmed.
SECTION II,
That the further authorization of the following bonds dated April
10 1941, to be issued in the denomination of One Thousand Dollars ($1,000.00)
each, to be executed by the Mayor and attested by the City Secretary under
the City's seal, and maturing and bearing interest as follows:
$1,000,000 Airport Bonds, Series 66, maturing on April let of
each year, $27,000 in 1942, $26,000 in 1943, $29,000 in 1944, $30,000 in
1945, $31,000 in 1946, $32,000 in 1947,$33,000 in 1946, $34,000 in 1949,
$35,000 in 1950, $36,000 in 1951, $37,000 in 1952, $36,000 in 1953, $39,000
in 1954, $40,000 in 1955, $41,000 in 1956, $43,000 in 1957, $44,000 in 1956,
$45,000 in 1959, $47,000 in 1960, $48,000 in 1961, $49,000 in 1962, $51,000
in 1963, $53,000 in 1964, $54,000 in 1965, $56,000 in 1966; the first $390,000
of said bonds maturing from 1942 to 1953, inclusive, bearing interest at the
rate of two and one-half percentum (2j%) per annum, and the remainder of said
bonds bearing interest at the rate of two and one-quarter percentum (2j%)
per annum, in all respects as recited in Ordinance No. 2101, adopted March
26, 1941;
$340,000 Street Improvement Bonds, Series 69, maturing on April
lot of each year, $9,000 in 1942, $10,000 in 1943 to 1945, inclusive,
$11,000 in 1946 to 1949, inclusive, $12,000 in 1950 and 1951, $13,000 in
1952 to 1954, inclusive, $14,000 in 1955 and 1956, $159000 in 1957 to 1959s
inclusive, $16,000 in 1960 and 1961, $17,000 in 1962 and 1963, $16,000 in
1964 and 1965, and $19,000 in 1966; the first $133,000 of said bonds, matur-
ing from 1942 to 1953, inclusive, bearing interest at the rate of two and one-
half percentum (2j%) per annum, and the remainder of said bonds bearing in-
terest at the rate of two and one-quarter percentum (2j%) per annum, in all
respects as recited in Ordinance No. 2102, adopted March 26, 1941;
$160,000 Garage and Repair Shop Bonds, Series 70, maturing on
April let of each year, $4,000 in 1942, $5,000 in 1943 to 1949, inclusive,
$6,000 in 1950 to 1955, inclusive, $7,000 in 1956 to 1960, inclusive, $6,000
in 1961 to 1964, inclusive, and $9,000 in 1965 and 1966; the first $63,000
of said bonds, maturing from 1942 to 1953, inclusive, bearing interest at
the rate of two and one-half percentum (2j%) per annum, and the remainder of
said bonds bearing interest at the rate of two and one-quarter percentum (2j%)
per annum, in all respects as recited in Ordinance No. 2103, adopted March
26, 1941;
and the sale of said bonds to Fenner & Beane & Associates at a net interest
cost to the City of Three Hundred Thirty-three Thousand, Five Hundred Seven
and 50100 Dollars ($333,507.50) for $1,000,000 Airport Bonds, One Hundred
Thirteen Thousand, One Hundred and Sixty Dollars ($113,160.00) for the
$340,000 Street Improvement Bonds and Fifty-three Thousand, Two Hundred and
Ten Dollars ($53,210.00) for the $160,000 Garage and Repair Shop Bonds, be-
ing a price of par with accrued interest for each of said issues of bonds to
the date of delivery, be and the same hereby is in all respects confirmed.
SECTION III.
That all ordinances and parts of ordinances in conflict herewith
be and they are hereby expressly repealed.
SECTION IV.
That this ordinance shall take effect and be in full force and
effect from and after the date of its passage, and it is so ordained.
Mayor of the City of Fort
ATTEST:
City Secretary of the City of
Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
City Attorney of the City of
Fort Worth, Texas