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HomeMy WebLinkAboutOrdinance 1105 i 77hO City Council of the City of Twort =,jt in regulRr In the CoUnail Chamber °�,t the City Rell 9130 : * fu`3 jdoy,# the 29th fty, of De4ionitwv,, ..�� 109i>� abd uPOn I&OD, "'11* the TCS .owing Vwere presenta M640 r,a V.Or, W l:l.are Burtons A. R. x xOS , W1111=, w W�a r� xa constituting, a quorum and majority of saeald: card; I a ttendnree .,At Said. InDO U "* alla Vne following, roseedi7] I al G� lin Bur`ton# seconded by Councilman 4t moved the adoption of t'o !'olirww rv&hmnoe , i -t4xrlr a )P 110r� 0"111 t �qalY,iu, UOUP AH Vj" /.. ;"p"T Yp, r .i L•ad„`k. 1a #' , a$', O �a la 'gg _ -F fid? TON A�yP 4'v H# �, � �' x 1 t rD a ,� �q �+r� u!1%,Iuk �}11� 1, Qiyl7$ �F y I�, w,lAsJk.fp��4y Fy:�}S301r 0'�'�1()) t,11M ..E>., �:.;1,g�.�.,f't.4 xaA.� �h/M � �'t«3 Y..l.:t ��, «�44�4,k�pil��.d::a� A A F x 7 e3'� r a a+oyy T' rp C s y6�,F�.�`�.YT.t Y r,l �A x�7.PG,i'%aT :�.ir+t.�-dwr"'w. ���•a.+i�- r�. Y.',3'I. 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"�7 A ID i;:,« z "ATi 1 ",S) y UIN 02 4` A,14) D� a �45 � T J .s��s.� ��,,'.. 3�. ,L -i.b4:., 1'1 �t�a.:.l,�1� T.« T41a .�,�ATMg �.d _ d'. f.{��,y xyy r*.f �ykdy�. ,J„.k..rt...- i�s"�+f✓�{a-Ek§.�.6'#A +�.1�.1 1.:;fi' .. i.b •.� ��ryry 1��'Vy fy CC ~y �� i'�'i:..'7oAi ,�t.{fi.,f J�`�.. ;'';rt8bxTa-.k• ..,f. �V,-, I I W,M_,7REA,3. on the 3rd day of Novembers A, D 1925, pursuant to the authority vested: in said City by Section 19 of Chapter XXV of the Charter of the City of Fort Worth, adopted by the � quallfied voters within the limits of said City ou the Ilth day of ]december, A. D. 10240 and the laws and constitution of the State of Texas,, the Cita Council of the City of Fort Worth, Texas, by resolation and order of th&t date ? cted the s-abmis.sion to the, resident pr.'dperty tax pay- ing qualified votera of said. Gity, at an eleation to be held in said Citi. on the 24th day of member, A. D, 1925, of the rtght, poorer and authority of the Cit Council of said City to issue negotioble coupon bonds of the corporate government of said City, in the principal aa.m of 11hree Million Three-Hundred Thousand Dollars (0...'500,000.00),. Bch amount was to be used for the purpose of,-faking per- m:arwnt, improvements in the said. City by improving and ex- tending the water and sanitary sewer systems of said City, ARI,,A,S, in conformity with said resolution and order, than � $o'r o:� zpdid City raid: make proclamation of said election and the & to for same was set on the 24th day of November,, A. D# IG25 and VV ?ISA ,F publication wa:a made of said election in the manner and for the time preserilAd: in said resolution and election order; and NIOREAS, on the said 24th day of November, A. D, 19250 said election: was held in the City of Fart Vorth at the respective palling places designated in the election order,, at which said election each issue of bonds was sub- mitted as a separate and distin,t proposition to the voters of said City,, the official ballot on such occasion, in. con- I, formity with the resolution of the City Council and they order of they eloation, Inform and substancep wa ae i OFFICIAL BALLOT I. Shall the City of Fort Worth, Texas ; through its City Council, issue its negotiable coupon bonds, running from five . (5) -to forty (40) years in the principal sum of Three Million Three Hundred Thousand 0,3,300,040.00) Dollars , for the purpose of improving and extending the waterand sanitary sewer system of s aid City, the first of said bonds being payable at the expiration of five (5) years . from the date thereof, and s erially thereafter as may be determined by the said City Council, so that the last maturing bonds shall become payable -within forty (40) years from the date thereof, bearing interest at a rate not to exceed five per cent (51-") per annum from the date thereof, payable semi-annually, and levy a sufficient tax to pay 'the _interest on said bonds and. create a sinking fund sufficient to .redeem said bonds a t the maturity thereof? FOR the . Issuance of Nater and Sanitary Sewer Bonds. AGAINST the Issuance of Water and Sanitary Sei°°ver Bonds. II. Shall the City of Fort 1,Vorth through its City Council, issue its negotiable coupon bonds, running from five (5) to forty . (40) � years, in the principal sum of Two Million Two Hundred Thousand t X200 OQO.CO) Dollars for the purpose ose of constructing, improving and extend spa the streets, thoroughfares and storm sewers of said city, inc1q. g in such permanent improvements the tividening, paving, grade separaLi:on- bridges and drainage; the first of said bonds be- ing payable at the expiration of five (5) years from the date thereof, and serially thereafter as masr be determined by the ,said City Council, so that the .last matiiring bonds shall become 'payable 'within forty (40 ) years from the date thereof, bearing interest at a rate not to exceed five per cent (5%) pet, a nnum from the date thereof, pa yable semi- annually, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to -redeem said bonds at the ma- turity thereof? FOR the Issuance of Street Improvement Bonds . AGAINST the Issuance of Street Improvement Bonds.- III. onds:III. Shall the City of Fort Worth, through its City Council, issue its negotiable coupon bonds, running from five (5) to forty (40) years, in the principal scam of Seventy-One Thous and ( 1371,000.00) Dollars, for the pitrposo of constructing, building and equipping an additional incinerator plant for the City of Fort' 1,7orth, Texas, and. purchasing the necessary lands and site therefor, the first of said bonds being payable at the expiration of five (5) years from the date thereof, and serially thereafter as may be determined by the said City Council, so that the last maturing bonds shall become Y.jayable within forty (40) years from the .date thereof, bearing in- terest at a rate not to exceed five per cent (5 �) per annum from the date thereof, payable semi-annually, and levy a sufficient tax to ,)ay the interest on s aid bonds and create a. sinking fund. sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Incinerator. Bonds. AGAINST the Issuance of Incinerator Bonds . IV. Shall the City of Fort Worthi through its City Council, issue its negotiable coupon bonds, running from five (5) to forty (40) years, in the principal sum of Five Hundred Thousand (500,000.00) Dollars, for the purpose of purchasing, af;quiring and improving lands and property for public parks 'in thy. City of Fort Worth, the f'i'rst of said bonds being payable at the ,_zxpiration of five (5) years 'rom the date thereof, and serially thereafter as may be determined cy the said City Council, so that the last maturing bonds shall be- payable within forty (40) years from the date thereof, bearing nterest at a rate not to exceed fivo per cen.-c (5%) per annum from ze data thereof, payable semi-anniia lly , nd l_ try- sufficient tax to pay the ir.�,rest on said bonds and create a s. ging fund suffi- cient- to redeem said bonds at the maturity thereof? FOR the Issuance of Parr Bonds : AGAINST the Issuance of Park Bonds . V. Shall the City of Fort Worth, through its City Council, issue its negotiable coupon bonds, running from five (5) to forty (40) years, in the principal sum of Ono undred and Seventy Thousand ($170,000.00) Dollars, for the purpose of purchasing, acquiring and improving playgrounds, athletic fields andnother recreationfacil- ities -of a permanent nature in said city, the first of said Ibonds being payable at the exbiration of five (5) years from the date thereof, and serially thereafter as may be determined by the .said n City. Goucil; so that . last maturing' bonds � shall become payable within forty (40) years from the date thereof, bear?ing interest at a 'rate not to exceed five per cent -(5,-,) per annum from the date thereof, payable semi-annually, and levy a s uffi.cient .tax to pay the , interest on said bonds - and create a sinking -fund sufficient to redeem said bonds at the maturity thereof ? FO-R the Issuance of- Recreation Bonds. AGAINST the Issuance of Recreation Bonds. VI: Shall the City of Fort Worth, through its City Council, issue its negotiable coupon bonds, running from five (5) to forty .(40) years, in the principal sum of Eighteen Thousand 018,000..00) Dol lars , for the purpose of constructing, building and equipping an addition to the City-County Ho -pital in the. iCity of ,Fort Wo' rth,, Tex- as, the .first _of said bonds being p ayable at the -expiration of five (5) years from the date thereof, and .serially thereafter -qs may be determined by the said City Council-, ' so that the Iasi maturing bonds shall become 'payable within forty (4--0) '.years from the dat-e. thereof., bearing interest at a rats-not to exceed five per cent' (5%) per annum from the date thereof, payable- semirannually, and -levy a sufficient tax to pay -the Iinterest on said bonds and create.'a ; ,ink- ing fund -suf'fi'cient 'to redeem `said bonds "t the maturity thereof? FCR the Issuance of City-County- Hospital Bonds. AGAINST the Issuance of City-Council Hospital Bonds, VII Shall the City of Fort Worth,- through its,; City Council, issue its negotiable coupon bonds, running from five (5) to forty (40) yearsp in the principal sum of Omme Milliizon Four hundred Thousand (1;400',000,00) Dollars, for the purpose of censtrc.ting;, improving and .extending its system -of streets and tharoughfates, by construct- ing,. improving and extending: l'-now,main afi_t.�eriai '_street . and t ' or- oughfar-e running north and south anda new main arterial street and thoroughfare extending east 'and West throe;gh said city, . including in such permanent improvements grade separation, bridges., drainage ani; the purchase of right of way, the -first .of said bonds being- pay- ' able at the- ,expiration of five5 ( ) years from the date thereof, and serially thereafter .as may be determined. by- the said City Council, ao , thtt the last maturing bonds shall become payable within forty (40) years from the date thereof, bearing i;.terest at a rate not to exceed five ,per -cont (5%) per annum from. t!I e date thereof , payable semi-annually, and levy a sufficient tali :to, pay the interest on said bonds and create a sinking fund suffid!ient to redeem said bonds at the maturity. thoreof? FOR the Issuance. of Maim Arterial TIjoroughfare Bonds . AGAINST the Issuance of Main ArteriE*,l Thoroughfare Bonds # I NEREAS, at the election held in said City on the 24th day of XoVemberf A. D. 1925, there were 3,,401 votes fust In favor of the Issuance of said Wetted' and sanitary sewer bonds and 1,,256 votes cast against the issuance of said bonds, leaving a majority in fervor of the issuarwe of said bonds of 2#145 votes; and '17HEREASj, by virtue of said election the said City Co=nch is vested: with authority by and from the people to issue said brands for the purpose aforementioned;, and to make same valid and binding obligations of the corporate gover=ent I of the City of Fort -Worth] and the. said. City Council deem it advisable and expedient at this times to issue only One Nil. lion Fire :1undred `thousand. (41s500,€100.00) Dollars Orth of said Series No. 45, and beim designated, "Waster and Sanitary Seiver Bonds"; and. NOW TMMEFOREO BE IT CRDAInD BY TraE CITY GOU?. CIL OF THE CITY QP FORT 'UOR7l"H: ;z-ECTIOW I. That pursuant to section 19 of Chapter xxv of the Chartsr of the City of Fort Worth adopted by the qualified vOte1r8 within the corporate limits of said City, on the 11th dray of December, A. D. 1924, and the laws and constitution of this State, and pursuant to the vane of the resident property tax paying voters of the City of Fort Worth, in election hold in said. City for such purposes on the 24th day of November, A D. 1925, that the municipal government of the City of Fart worth issue its corporate negotiable coupon bonds in the principal sup of One Million Five Hundred Thousand. (41,500,000.00) Dollars,. out of an authorized issue at said election df Three Nil - lion Three Hundred (�Z,3001000 00) Dol lars s and vhi ch authorized issue shall be designated as "Water and. Sanitary Sewer Bonds", series 45; said bands to be in the denomination fi on One Thousand ($10000.00) Dollars., each dated January Ist, 1926, bearing interest at the rate of four and one-half (4j) per cent per annum, payable semi-annually on the ;first day of Ju17 and January of each year respectively,, both principal and interest of said bonds payable at the Hanover National Bank in the City of New York, State of New Yorks the_ semi. annual interest evidenced by interest coupons attached there- to, all of said bonds to be executed for and on behalf of the City of Dort Worth by the Mayor then.eof, attested by its secretary-Treasurer, with the seal thereon duly impressed, but the interest coupons to be executed with the lithographed facsimile signature of the Mayor and City Seeretary-Treasurer of the City of Fort Worth, each of said bonds and. 001Apc M shall be negotiable and payable to bearers and said bonds numbered In the way and Xamer hereinafter set out, maturing five (5) years from the date thereof and annually thereafter until the last maturing bands abal1 become payable within forty (40) gears from the date thereof, That the general form of said bonds and the dontponas thereto annexed, and the interest/ to be added to said bonds aball be executed in substantially the following forms, to- Wit UNITED STATES OF AMERICAo STATE OF TEXAS, COUNTY OF TARRANT, CITY OF FORT WORTH. 13ond of the City of. For* Worth (here insert a general description of the purr, � poses for which s aid bond is issued) . I, ,I KNOW ALL MEN BY THESE PRESENTS: That the government of the Cit of Fort Worth a g y Worth., municipal corporation, duly created under the laws of the State of Texas , hereby acknowledges itself to owe, and for value re- ceived promises to pay, to bearer, One Thousand (41,00040) Dol- leers, in lawful money of the United States of America, on the. dny of , t. D. 19 together with in- terest thereon at the mete of p,_:r centum per annum, pgyable semi-annually on the first day of July a nd Ja nuary 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 Hanover National Bank, in New York City, N. Y. , and for the due and punctual payment of this bond at the maturity thereof,rand the interest thereon, when it falls clue, the full, faith credit and resources of the City of Fort Worth are hereby irrevocable pledged. This bond. ; s' one of' a series of ( } bonds numbered consecutively from One (1) to ( ) , inclusive, ea ch of the denomination of One Thousand Dollars ($1,000.00) , amounting' in the aggregate to the sum of Dallars ( ) s issued' for the purpose of under and by virtue of the. Const%tutioiiWand lays of the State of Texas , the Charter of the City of Fort Worth, and an ordinance of 'the City Council of s aid City lawfully passed and adopted on the day of December, A. D. 1925, pursuant to valid authority from the property tax paying -qualified voters of said City, at d proper and legal election held on the 24th day of November, A. D. 1925. It is hereby further expressly represented, re- cited 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 '',oath, precedent to and- in, the issuance of this bond, have been done, have happened, and have been performed in proper and law- ful 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 ':.'orth, and that provision has been made for the levy ,and collection of a direct annual tax on all taxable property in the City o.f Fort ':Jorth, and that such tax has been levied in a sufficient amount for the payment of the principal 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 VuHEREOF, 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-Treasurer, with the :Pal of the City thereunto duly impressed, and has caused the annexed interest coupons to be executed with the lithographed facsimile i oignature of the Mayor and- City Secretary-Treasurer, and dated as - ',he first day of January, A. D. 1926. THE CITY OF FORT WORTH, TEXAS, Mayor ATTEST IT S ,C .STA -TREASURER �► � tii IT c ,.a (FORM OF COUPON NOTE)" NO. F � The City of. Fort Worth, in the .Sta-te of Texas., promises to pay to ?nearer Dollars, an the v day of , A. D. 19 , at the Hanover Naticnal Bank in the City of New York, N.. Y: , for interest due that day on its municipal bond dated January. 1st, A. D. 1526, and nizibered MI IT CT__TY OF FONT WORTH, TEXAS, 4 MAT0R ATTEST: CITRSECRETARY TREAS'T REf__ .�; t That the total amount of bonds so to be issued by the City sof port Worth, one Million Five RUndrad 'Thousand ( Ip5 C0^0000) Dollars thsz%eof shal"! be Issued for the purpose of irapro J_n,C and exte.uding the water and sanitary sewer systems of sa..;d and shall consist of one thousand five hundred (1,x`00) bonds, r-nmbered from cne (l,) to one t-liousand five izundr; d d slell gear interest at the rate of 4.1 v anrUm., pay able sem3.-annusll r, as aforesa d; all of wbsl-oh said one thousfrd five h=dred (1,,500) bunds shall be a pert of series No. qnd shall be styled and designated. as "',Iv to r and S&nitar¢ �:Tewsr Bonds", Th- at all of said bandy Million Five Hundred Thousand (41,,500,000,00) Dollars e sNall mature in the mann+ar and amounts with the reg=peotivedi-visions of t me as set forth. In the fol:Lowin tab:; . pt d schedl le CITY M "SRT IVB i Dm JA 2� Ira lot UA 46 40 40 je UAW* I R t SECTION IV. That the said bonds are hereby authorized 'to be sold to the hest advantage, but in no evont shall same sold for less than par and the accrued interest to the time ,p',� delivery, and the proceeds thereof shall be placed In the tr4 ury of the City of Fort ':worth ,and utilized for the speci6l purposes I for which each issue of bonds iscreated.. I i OSECTION V That for the purpose of creating a sinking ftz�d Etat the payment and complete extinguishment of the forgo banded debt, frrincipal and interest, and all and eery P "t names nes there is hereby levied and therms shall be, gLasess,ed, and collected as. provided by law, set apart and a 'prtpri.rated for the saaid purposes an a=l.mnials direst speeial a4 lorem tax for the year 1926, and every successive year Cherf��fter d-u,rin ' the life of said bonded debt of any part thereof 6`y, S4 cents (or such all amount as may. be necessary an.,adequate,}1 be, it more I or less) on every One Hundred ( y100.00) Dollars of property valuation, real, personal and mived,, subject to tae iati©n and not exempt therefrom under the Constitution and law �f t State of Texas$ situated and owned in. the City of For#,,\ di^,h can the i.st day of Jarmary 19260 and on the ist day. of 4nuary of each year thereafter until said debt represented by-,' staid bonds and. coupon interest nates. shall have been fully and if., at any time,, such tax should be insufficient, �t4+en,i i.t shall be the duty of the Citi* Council or any other Bove is body of the City of Fort Worth,. to set apart and approOiate such additional amount of moneyout of the general revenu+sskc,f the said City, as may be requisite to supply the deficiency until. I i all interest shall have been paid and the sInkIng fUYA es- tablished as required by the Co natitution of tho ,State of Texas and the Charter of the City of Fort '�orth. SEOTI W V1 ,,'!hat it shall be the duty of the City Council of the City of Fort Worth and Its succesaarso and of the govern- ment of the city of Fort Worth, by levying taxes for gene»al purposes for the said City of Fort Worth for the year 1920, and for every successive year during the life of said bonded debt or any part thereof# to include In such leery the special tam. of 6, cents on. the One Hundred 0100000) Dollars property valuation (or so much thereof as may be requisite and necessary) provided for in the next preceding seetion of this Ordinance,, and such speeia.i tax shall on no aecso=t whatsoever be dis- placed therefrom, SECTION V11. That the speoial tax heroi..nbefore provided for, when oolleoted, shall be placed and kept in sepsrnte fund and shall be devoted to the pay�en.t of the interest and the extinguish- ment of the principal of all and singular .the bands hereinabove in,entioned: a.s: some matures from time to time, and shall not be used., applied or diverted to any other purpose or object what- soever; and the fundi derived from said tam shall rue hold and listed as separate account on the books of said City., and the proceeds held and kept by the City Treasurer of said Gity as a. separate and distinct ac:oovnt and so specified as such on his books SECTION VISI. That as soon as eonv+enient rafter sscaid bonds have been prepared and aL gnod in the wrwnier ppeaeribed, ly.-t tb-Js ordi -00 they s hall be submitted W t�is Attwmk�ie; neral of the ztate of Texas, at 4-A.-!itirt,# togetIlr r with, a certified copy of this Ordinance and a statement of the total 1""P od -nd.ebt«Tinea s of the City of Feet Wo th-. 'Incli-;Lding the bonds herein s.nd heireby ant or.-Ijzod# and the asses.sed value ,.)f the tax-aL le Px;c PG::* ;; i-q $Aid G t7;, for his aapproval$ and none cl tao qa t.d bends shall l e 'negotiated, aold or transferred until the s&ma shall have received the offie 1 sanotjon of w`hO 7-waeralp as prescribed by law,0 and there- aft(-,: t?^.e bonds shall be presented t io �he State Comptroller of bZ G Aceotwto fcIr :.Registration. That -the City of the c1ty of Fort th ctr ' .:��' . . :, tii. irrr� of suo fv.-ads$ during the and O.-E, .aeh a.xad avert' year., dtar- imz the z Ve o s a',d boad.s ; r aal art thereof, and not later than tb* 20th . y of. aaeh of said uontbsp shall transmit suf- f tient. mosey ont, of the intern—z: , funds hereinbefore created for the R;ia:$'=6, of semi-annwll iz#-67est accruing can said bonri�, t the caCer JIF"tx��nr a of the (ity of New York, State of Wew York, and l3xrewise remittance shall be mmade in d7ae course to provide for the ,payment of the principal of any of said bonds in advance of the maturity of ;dame.. SECTION X. All ordinances and parts of ordinanees in conflict herewith be and they are hereby expressly repealed. SECTION X1. ele holding or ad jvdicat ion of any s e et.ion,* pay`- tion or part hereof to be invalid shall not affect the validity* of any ether section or part of this ordinenoe,, but all of such other sections, portions or warts hereof shall be and resin valid, SECTION XII. That this ordit=os Shall tape effect and be in fall for4s from acid after the date of its passage and it is so orcUined, Mayer He 0* Mea m,, presiding at said meeting a b-- mi.tted. the motion to adopt said Ordinance.. and all of the Goww baen, ineludii3g the Mayor, voted. .1aye rz thereon, and none voted. ''n�a�, and the motion to adopt the ordinande was declared to be unanimously passed,. h i STATE Ri l. 1'i I I. L. Van Zati+dtJr. Gity of thiD City of Fort Worth,, do hereby tmr-ti fy thx a; taa above and foregoing ord„inanee is a' tr e and cor:^cct copy of Ur- nance, Xo. and was wuaoxAmo" Y, by the City Coul cil o2 the City of Fort k!orthj,, Tezar., atl 4 'i-,06uia.r meet- ing held in t ho Coup-oil Chamfper at .dna city a&1I ;gin rass.day 29t'h day o Doaember, A. D. 11,425. 4ITUMS' my hared at Fort4YOrth, To-as, this day of Deoembar, A. lbw 3925. jfi Aft 4:Ile Rei '�.'".4''� PP'�•fY� .A".