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HomeMy WebLinkAboutOrdinance 2705 AN ORDINANCE PROVIDING FOR THE ISSUANCE OF NEGOTIABLE COUPON BONDS OF THE GOOVERN1,INT OF THE CITY OF FORT WORTH, TEXAS. MOUNTING TO THE,., PRINCIPAL SUM OF TWO 1v1TLLION, THREES HUNDRED' THOUSAND DOLLARS (,,2,300 000.00)2 IN ADDITION TO THE SUM OF FOUR YE LTLION, 'TUENTY-EIGHT THOUSAND DOLLARS ($4,028,000.00) WORTH OF SAID BONDS HERETOFORE ISSUED OUT OF AN AUTHORIZED ISSUE OF NINE 11ELLION DOLLARS ($,0001000.00), AND BEING KNOWN AS SERIES 74 AND DESIGNATED AS "STREET IMPFROVEMENT BONDS,'' TO BE ISSUED FOR_T;C-IE PURPOSE OF "CONSTHUCTINq, IM, PROVING AND EATS DING THE STREETS, THOROUGHFARES AND STORM S3'%E.RS OF SAID CITY, INCLUDING IN SUCH PERMANENT PUBLIC IMS- PR,OVEMENTS THE STRAIGHTENING, SL .DEXING2 :EA IN, GRADE SEPA- RATION, LIGHTING AND DRAINAGE OF SAID STREETS AND THOROUGH- FARES, S.HOROUG -FARES, AND ACQUIRING THE NECESSARY LANDS THEREFOR FOR SAID CITY, EACH OF SAID BONDS TO BE IN THE DENOMINATION OF ONE THOUSAVD DOLLARS ( 1,000 00), TO BE LAA.f,ED SEPTEVBE R 1, 1949, MATURING FROM ONE (1) TO 71-ENT' FIV (25? YEARS FROM THE DAT THEA SOF, THE FIST SIX HUNDRED AND FIFTY THOUSAND DOLLARS 650,000 .00) WORTH OF SAID BONDS TO BEAR INTEREST AT THE, RATE OF 710 99D THREE-QUARTERS PER CENT (2-3/4%) PER ANNUmf AND THE t`EE:1T OT1F, MILLION; ,SIX :HUNDRED AND FIFTY THOUSAND DOL- LARS ($1050,000,0) WORTH OF SAID BONDS TO BER INTEREST AT THE RATE'OF TWO AND ONE-HALF PER CENT (2-1/2%) PER ANNUM, SAID INTEREST BEING PAYABLE ,SENT-ANNUALLY, THE INTEREST TO BE E PRESSED IN COUPON' TOTES ATTACHED TO THE ,BONDS; DIRECT.- IS',G THAT THE SAID BONDS BE EXECUTEDBY THE MAYOR AND CITY SECRETARY; PROVIDING FOR AN ADEQUATE TAX LEVY FOR THE PAYMENT OF THE INTEREST ON SAID BONDS ;AND TO CREATE A SINKING FUNME FOR THE PAYEE 'T OF THE, PRINCIPAL, THEREOF AS THE SAME MATURES FROSV; TIME TO TIME; ND PROVIDING THAT THIS ORDINANCE SHALL BE IN FORCE, AND EFFECT FROM AND AFTER THE DATE OF ITS PASSAGE. ,7EREAS on the 5th day of September, A. Da 1945, pursuant tea the authority vested in said City Q Section 19 of Chapter XXV of the Charter of the City of Fort Worth, adopted by the qualified voters nr thin the limits of said City on the lith day of December, A. D. 1924,E and the latFt?' and Constitution of the State of Texas, the City Council of the City o Forst Worth, Texas, by an ordinance of that date, directed the submission to the qualified electors who ol,,,rn taxable property in the Cite of Fort Worth Texas,,and who have duly rendered the same for tax tion, at an el ec- tion to be held in said Clay can the 2nd day of October, A. Do- 1945, of the right, power and autho;l ty' of the City Council of the Citi of Fort G'7orth Texas, to issue negotiable coupon bonds of the corporate government of said City 1n the principal sum of'Nine Million Dol,lars, (59, 00,000.00 thoroughfares and storm sewers of said City, including in such permanent public improvements' the straightening, widening, paving grade separation lighting and drainage of said streets and thoroughfares, and acquiring the necessary lands therefor for said. City; and., WHEREAS, in conformity with said or 'nance, the Mayor of said City did_make proclamation of said election and fixed the date thereof for the 2nd day of October, A. D. 1945; and, WHEREAS,, said election order and proclamation thereof were prepared and published in the manner and for the time prescribed in said ordinance- and., 't REAS, on the 2nd day of October, A. D. 194% said election was held in the Cite of Fort Worth, Texas, at the respective polling places designated in the election order, at which said election the issuance of said bonds 'was submitted as a proposition to the qualified electors of said City who own taxable property in the City of Fort North, Texas,, and o have duly rendered the sane for° taxation; and, 'WHEREAS, the official ballot on said occasion, in conformity with the ordinance of the City Council hereinabove mentioned and in accordance with the order of said election, in form and in substance reads as follows OFFICIAL BALLOT I® Shall the City of Fort Worth,, Texas., through:its City Council, issue its negotiable coupon bonds in the principal sum of Nine Million Dollars ($92000,000.00) for the purpose of constracting, improving d extending the streets thoroughfares and storm sewers of said City, i,rn- eluding in such permanent public improvements the straightening,, widening, paving, grade separation, ;lighting and drainage of said street's and thoroughfares, and acquiring the necessary lands therefor,, said bonds being payable serially as may be determined ned b the City Council., so that the last maturing bonds shall become payable within forty (40) years from the date thereofr bearing interest a ; a rate not to exceed four per cent (4%) per annum from the date thereof, payable semi-annually, and le a sufficient tax to pay the intereston said bonds and create a sinking fund sufficient to redeem said bonds ;at the maturity thereof? FOR the Issuance of Street Improvement Bonds, AGAINST the Issuance of Street Improvement Bonds. I� Shall the City of Fort Worth, Texas., through its City Ccs cial issue its negotiable coupon bonds in the principal sum of Two Million., Five Hundred Thousand Dollars ($2,500,000,00) for the purpose of estab- lishing, equipping, extending and improving m icipal airportsand land- ing fields for airplanes, aircraft and other aerial machines, and acquir- ing the necessary lands therefor, said bonds being payable serially as may be determined ned by the City Council,, so that the last maturing bonds shall become payable within forty (40) years from the date thereof,; bear- ing interest at a rate not to exceed four per cent (4%) 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 at the maturity thereof? FOR the Issuance of Airport Bonds, AGAINST the Issuance of Airport Bonds, IIS, Shall. the City of Fort Worth, Texas, through its City Cocil issue its negotiable ,coupon bonds in the principal sum of Two Million Dollars ($2,,000.,000.00) for the purpose of improving, extending; and en- larging the sanitary serer system and. sewage disposal plant of said City., and acquiring the necessary lands therefor, said bonds being payable serially as may be determined by the City'Council,, so that the last`ma- turing bonds shall become ;payable within forty (40) ;years' from the date thereof, bearing interest at a rate not to exceed four per cent (4%) per annum. from the date thereof, payable seemi-annually, and levy a suf- ficient tax to pay the interest on said brands and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR;the Issuance of Sanitary Serer System and Sewage Disposal Plant Bonds AGAINST the Issuance of Sanitary Sewer System and Sewage Disposal Plant Bonds. IV Shall. the City of Fart Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Three Million Dollars ( 3.,0002000,00) for the,`purpose of improving,, extending and- en- larging the water works and water works system of said City, and acquir- ing the necessary lands therefor, said bonds being payable serially as y be determined by the Cite Council, so that the last maturing bands shall become payable within forty (40) years from the date thereof, bear- ing interest at a rate not to exceed four per cent (4%) per annum, from the date thereofp payable semi-annually, and levy a sufficient tax to Tway the interest on said bonds and create a sin-king fund sufficient to redeem said bonds at the maturity thereof?'' FOR the Issuance of Water Works Bonds AGAINST the Issuance of Water Works Bonds, V, Shall the City of Fort Worth., 'Te , through. its City Council, issue its negotiable coupon bonds in the principal sum of Three Hundred Thousand Dollars ($300.,000,00)00,00) for the purpose of constructing,, bzr ld , ing and equipping, a police station and a—tl 'building, said bonds being payable serially as may be deter ,ned by the City Council so th<�, the: last mati.3.ri g bonds shall become payable idthin forty (40years fres the date thereof, be2izzg interest at a rate not to exceed four per cent ( ) per annum from the date thereof, payable ;semi—annually., and le%,y a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeems said bonds at the maturity thereof? FOR the Issuance of Police Staticin and Jail Building Bonds. AGAINST the Issuance of Police Station and Jail Building Bonds, Shall the City of Fort Worth, Texas, through its City Council, issue its negotiable coupon bonds in the principal sum of Seer, Hundred Thousand Dollars ($700,000,00) for the purpose of purchasing, acquiring and improving land and property for public parks ib said City., said bonds being payable serially as may be determined by the City Council so that the last maturing 'bonds shall became parable within forty (405 years from the date thereof, bearing interest at a rates not to exceed' four per cent (4%) per annum from the date thereof, payable semi—annually,, and levy a sufficient tai, to pay= the interest on said bonds and create a sinking fund sufficient to redeem said bands at the maturitythereof? FOR the Issuance of Park Bonds. AGAINST the Issuance of Park Bonds, I® Shall the City of Fort Worth,, Texas, through its City Council., issue its negotiable coupon bonds in the principal sum of Five Hundred Thousand Dollar ($500,,000.00) for the purpose of purchasing, acquiring and improving the playgrounds and recreation parks of said. City, said bonds being payable serially as may be determined by the City- Council., so that the last'maturing bonds' shall become parable within forty (40) years from the date thereof, bearing interest at a rate not to exceed four per cent (4 ) per a ; from the date thereof, payable seas.—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 maturity`thereof? FOR the Issuance of Playground and Recreation Park Ponds AGAINST the Issuance of Playground and Recreation. Park Bonds. II0 Shall the City of Fort Worth, Texas, through its City Council,, issue its negotiable coupon bonds in the principa.1 sum of Eight Hundred Thousand Dollars ($800,000.00) for the purpose of constructing, building and equipping an art and childrents museum for said City, and acquiring the necessary land therefor, said bonds being payable serially as may be determined y the City Council, so that the last suturing bonds shall become payable within forty (1�0) years from the date thereof, bearing interest at a rate not to exceed four° per cent'(4%) ;per a fromthe 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 at the maturity thereof? FOR, the Issuance of .Art and Children's Museum Bonds AGAINST the Issuance of Art and Children's Museum Bonds.: Shall the City of Fort Worth, Texas,, through its City Council, issue its negotiable coupon bonds in the principal sum of Five' Hundred Thousand Dollars ($500,000®00) for the purpose of constructing., build- ing and equipping a recreation center building and amphitheater for said. City, and acquiring the necessary land therefor, said bonds being pay- able serially as may be determined by the City Co oil, so that the Last maturing bonds small become payable ble wi,thir forty (4.0) years from the date thereof, bearing interest at a rate not to exceed four per' cent (4%) per annum. from the date thereof, payable semi-annually,,uall y, and levy a sufficient tax to pay the interest on said bonds and create a sinking fund sufficient to redeem said bonds at the maturity thereof? FOR the Issuance of Recreation Center Building and Amphi- theater Bonds. AGAINST the Issuance of Recreation Center Building and Amphitheater Bonds. X Shall the City of Fort North,, Texas, through its City Co cil, issue its negotiable coupon bonds in the ,principal sum of One Million, Five Hundred Thousand Dollars ($10500,000,00) for the purpose of construct— ing.,ng, equipping and improving agricultural and livestock exhibit buildings for said City, and acquiring the necessary lands therefor, said bonds being payable serially as may be determined by the Citi- Council, so that the last maturing bonds shall become payable within forty (LSO) years from the date thereof, bearing interest at a rate not to exceed four per cent (4 ) per annum from the date thereof, parable se artnuall , and levy a sufficient tax to pay the interest on said bands and create a sinking fund,sufficient to redeem said bands at the maturity thereof? FOR the Issuance of .Agricultural and Livestock Exhibit Building 'Bonds. AGAINST the Issuance: of Agricultural and Livestock. Exhibit Building Bonds...; and., WHEREAS, in the election held in said City of Fort Worth, Texas,,, on the 2nd day of October , A. B 1945, on the >question of the issuance of said bonds hereinbefore mentioned there was a majority of votes' in favor of the issuance of said bands; and, WHEREAS,q by virtue of said election.. said City Council is vested with power and authority by and from the qualified electors nes own tax- able property in the City of Feet Worth, Texas, and who have duly ren- dered the same for taxation, to issue said bonds for the purposes afore- mentioned and to mate same valid and binding obligations of the corporate government of the City of Fort Worth, Texas; and, WHEREAS., the City Council., in accordance with the poorer vested in said governing body did lawfully pass and adopt an ordinance on the 13th day of February, A. D. 1946, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort, Worth amounting to the prin- cipal "n-cipol s of Four Hundred and Fifty-three Thousand Dollars ($453,000.00) and, NHEREAS., the City- Council,, in accordance with the power vested in said .governing body, did lawfully pass and adept an ordinance on the 18th day of December, ,A® D. 1946, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the princi- pal sum of Nine:Hundred ed d Fifty Thousand Dollars (X950,0 a00)3 and, WHEREAS, the City- Council, in. accordance with the power;vested in said governing body, dial lawfully pass and adopt an ordinance on the 16th day of July A. D. 19479 authorizing the issuance of negotiable coupon bonds of the government of the City of Font Worth amounting to the princi- pal sum of Seven Hundred and Fifty Thousand Dollars ($7502000.00),- and, WH Sp the City Council, in accordance with the power vested in said governing body, -did l.awALIly pass and adopt an ordinance on the 23rd day of June, A. D. 1948s authorizing the issuance of negotiable coupon bonds of the government of the City of Font Worth amounting to the pr°ina-ti cip,.l sum of Four Hundred and Twenty-five Thousand Dollars ($425,000@00); arnd WH'"" S, the City Council, in accordance with the ;power vested in said governing body, did lawfully pass and adopt an ordinance on the 27th day of October, A, D, 1948, authorizing the issuance of negotiable coupon bonds of the government of the City of Fort Worth amounting to the prin- cipal s r°cipal -s e Million, Four Hundred and Fifty Thousand Dollars ($1,450,000.CO); and, WHEREAS,, ;all of the above described bonds were issued out of an authorized issue of Nine Million Dollars ($9,000,000.00) worthof said bonds, which bonds were authorized to be issued by the property tampaying qualified voters of said City at an election held on the 2nd day of Octo- ber, A. D 1945., and all of them being a part of and known; as Series 74 d designated as "Street Improvement Bonds"; and., WHERYAS it is deemed wise and expedient by the City Council of the City of Fort Worth, Texas, in the exercise .of the discretion reposed in it by law, that Two Million, Three Hundred Thousand Dollars ($2,300,,- 000.00) worth of said bonds, in addition to the Four Million, entymeight Thousand Dollars ($4j,028,,000,00) worth of said bonds heretofore issued and sold out of the authorized issue of Nine Million Dollars ($9,000,000000), be issued in bonds at this time, said bonds to be issued being a ,part of Series 74 and designated as "Street-Improvement Bonds!; N(AT, THEREFORE., BE IT ORDAINED BY THE CI'T'Y COUNCIL OF THE CITY OF FORT WORTH2 TEXAS: SECTION I, That the municipal government of the City of Fort Worth,., Texas., issue its corporate negotiable coupon bands in the principal sum of Two Million, Three Hundred Thousand Dollars ($2,300,000@00). this amount be- ing in addition to the Four Hundred and Fifty-three Thousand Dollars ($453,000.00) worth of said bonds heretofore issued by an ordinance law- fully passed and adopted on the lath day of February, .A, D, 19 .69 the Nine Hundred and Fifty Thousand Dollars ($950,000.00) worth of said bonds here- tofore issued by an ordinance lawfully passed and adopted on the 18th day of December;, A. 0a 1946. the Seven Hundred and Fifty Thousand Dollars ($750,000.00) worth of said bonds heretofore issued by an ordinance law- fully passed and adopted on the i6th day of JuI7, A D. 1947, the Fou Hundred and `twenty-Entre Thousand Dollars ($425,000.00) worth of said bonds heretofore issued by an ordinance lawfully passed and adopted oil the 23rd day of June, A. D. 1918, and the One Million, Four Hundred and Fifty Thousa.nd, Dollars ($1,450,000.00) worth of said bonds heretofore is- sued by an, ordinance lanTully passed and adopted on the 27th day of Octo- ber, A. D. 1948; that the bonds above described were issued and sold out, of an authorized issue of Nine AIlion Dollars ($9,000,000,00), authorized to be issued at a proper election held on the 2nd dad, of October, A. D. 19452 which bonds are knownas Series 74 and designated as "Street. Im p+'ovevent Bonds"; that the bonds so to be missed shall be in the denomi- nation enomi-matson of One Thousand Dollars l ��1,000.00) each, dated September I� 3 the first Six Hundr°ed. and Fifty Thousand. Doll,a,:s ($650,000.00) worth of said bonds, maturing from 1955 to 1964, inclusive, to bear interest at, the rate of two and three—quarters per cent per anniun and the net One ?illion.$ Six Hundred and Fifty Thousand. Dollars Q1,650,000,00) north of said bonds maturinE from 1965 to 1974, inclusive, to bear in- terest est a.t.. the rate of two and one-half per cent 12-1/2%) per annum, Pay able semi-annually on the first dadof Marchand September 0f each year respectively, both principal a.i:r.'ul' interest of said bonds being payable at the Central Hanover Bank and Tryst Company, in t.hE'. �'.p.it of New York, State of New York, the semi-annual l interest being evidenced by interest coupons attached thereto, all of said bonds to be executed or and GAF be— hall E'•--'hall of the City of fort Worth, `texas, by the Mayor thereof, attested by its City Secretary, with the s e l of the City thereon duly "=npr'e;ssed, but the interest coupons to be executed with the .;..:3.thogr:aphed. a.ac'ai.C?"ile sig- natures si -natures of the Mc3,4T`or and .r'aity :Seo+'°eta"°7 of the City of bort florth, ite.:w,...u'a5 that each of said bonds and fnouposzs, ,hall be negotiable and payable to bearer, and said bonds shall be numbered in the Z:,;ay and manner hereinafter slat out, so that the last. T1xtr1ArinE bond shall bpcome payable with tin;entyV.ive (25) years _'rC.7m the .?ate thereof, and the bonds themselves, twenty-three hundred (2,,300) in number, shall be numbered consecutively from four thousand and twenty-rine (4,029) to six thousand., three hundred and twenty-eight (6,32£),, inclusive, and shall mature in the amount and manner hereinafter set out; and that said 'brands shall be issued for the purpose of constructing, improving and extending the streets, ;thoroughfares and storm sewers of said City, including in such permanent public improve- ments pro e-meats the strai ghteni g, widening,, paving,, grade separation,, lighting and drainage of said streets and thoroughfares d acquiring the necessary lands therefor for said City. That the general form of said ands and the cosi- ons t !ereto an- and naad the interest added to said bonds sh ll be executed substantially in the fbllo'�rinm form.- SECTIO k That the said bonds so to be issued by the City of Fort Worth; Texas,s am unt a n to ';,.ro 1,1illion, Three Hundred T aQ2,_ 2 300,000.00), in addition to the r f Four Allion, T'wn nz s Thou- sand Dollars (1342028,000A%) worth of said bonds heretofore issued out CST the said authorized __ss e of Nine Million -a a w Q9,000,000.00 ' `.hall_ be issued for the purpose of constrLtCti n7 improving and extend- ing"''._.. A,he streets, thoroughfares and storm seers of said City, .t.!).cludit'F in such rerma a,enpublic ingroz,emen is the straithteni ng, widen nE a pa'vV . i- g, g,''rc3.de separation, lighting and drainage of said streets %._?.4.+, thorough- fares, A M1 ,.�._'.,:a, �.A1u; acquiring the necessary lands therefor for said City, and. si_a_9_'r consist of twenty-three hundred (2,300) bonds numbered ... `"' ._ f`tusan ,. _y--n in e (e 09) to six thousand, ew _fin k,; 3d and 'C,-r..utyA.1 ��,23,,r2 r i" cl_ . ie, and the first ..,l..r Hundred and Fifty t Thousand Dollars a t,?650,,000..\.0i v,°Lt,"_, of said bc) ds, maturing ....ri,.,n 1955 .,o 1964,. inclusive, shall atr_s,:' interest at S2Te r.wtC; of two at`3G1. three— quarters ?Tre€w°.,_ arters per cent (.24-3/ t p; per annum, and the ne.xt One 1."d1i,,)n,, Six !"'I 'n— Dollars • :.."n"`.�d :and Fifty Thousand ..,':?l l,a..- s (11,650,000.001 vu:'';'tka° 'of s,r..±,d bonds, i'.2'";. t1 Ping from 1965 to 1974, inclusive, shall bear __nterest at the rate fie of a_q.'l one-half per ..a° (2-1/2%) ti.1 e..e annum, payabV.,x,..l w•".ri���. ..T k�a.:'d'�.� ��� %u n"k.' aforesaid, all of which said twenty-three hundred (2,300) bonds shall be knC3w`4'k as Series 74 and shall be styled and designated at-ed as "Streetmen a n onds"; aid that all of the said bonds, com.,prisL',-_,,g the sum of Two Million, Three Undred Thousand Dollars (42,300,000.00), shall mature ,x l i;:e ic 1. orde,. in the manner er and amounts as set out it the tabulated SECTION III, That the said bonds are hereby authorized to be soldtothe best advantage, but in no event shall same be sold for less than par,, and the accrued interest to the time of delivery and the proceeds thereof tobe placed in the treasury of the City of Fort Worth and utilized for the special purposes for vhich they are createde SECTION IV. That for the purpose of paying the interest of said bonds as well as the various installments of principal, as the same shall respectively mature., thereishereby levied for the year 1949 and for each succeeding year thereafter so long as the same may be necessary, to provide for the interest and annual installments of principal of said bonds, on all prop- erty in the City of Fort Worth,, Texas, liable to taxation, a straight ad valorem tax of 2.6433 cents on the one hundred dollar valuation of said p perty, or so Bruch thereof as may be necessary, and if at any time the Dunt of said tax shall not be sufficient to provide for the interest and annual installments of principal, it shall be the duty of the -City Council to so increase said, rate haat an amount shall be realized from said tax sufficient to meet the requirements aforesaid for interest and annual installments of principal of said 'bonds; and it is hereby promised sed and agreed.that such increase of tax shall be made, if required for the purposes gyred', as often as it may;be necessary. There ;shall be assessed and collected annually a sufficient sum to pay the interest on such bonds and to create a sinking fund of at least two percent (2 ) of the princi- pal 'nci®pal debt herein authorized. SECTION V, That it shall be the duty orf the City Council of the City of Fort Worth, Texas,, and its successors, and of the government of the City of Fort Worth, in levying hg t es for general purposes for the said, City for the year 1949 and for every .successive year during the life of said bonded in- debtedness or any part thereof, to include in such levy the special tax of 2.6433 dents on the one hundred dollar property valuation (or so much thereof as may be requisite and necessary), provided for in the next pre- ceding section of this ordinance, and said special tax shall on no account whatever be displaced therefrom. SECTION VI That the special tax hereinbefore provided for, when collected., shall be placed and kept in a separate fund and shall be devoted to the payment of the interest and the extinguishment ent oaf the principal, of all d singular the bonds hereinabove mentioned as same mature from time to time, and shall not be used, applied or diverted to any other purpose or object whatsoever; and the funds derived from said tax shall be held and listed as a separate account on the books of said City and the ;proceeds held and kept by the City Treasurer of said City as a separate and dis- tinct account and so specified as such on his books. SECTION VII That as soon as convenient after sai.d,bonds shall have been pre- pared r pared and signed in the manner prescribed by the ordinance, they shall be submitted to the Attorney General of the State of Texas,, together with a certified copy of this ordinance and a statement of the total bornded in- debtedness of the City of Fort Worth, including the bonds herein and here- by authorized and the assessed value of the taxable property in said City, for his approval, and none off said bonds shall be negotiated , sold or transferred until the sane shall have received the official sanction of the said. Attorney General as prescribed by law, and thereaftersaid bonds shall be placed with the State Comptroller of Public ,Accounts for regis- tration. on SECTION VIII, That the Citic Treasurer of the City of Fort Worth or other lawful custodian of such fund., during the months<o f February and August of each and every year during the life of said bonds or part thereof, and not later than the 25th day of each of said months, shall transmit sufficient money out of the interest funds hereinbefore created for the payment of the semi.-annual interest accruing on said bonds to the Central Hanover Bank and Trust Company, of the City of New York, State of New York, and likewise proper remittance shall be made in due course to provide for the payment of the principal of any of said bonds in advance of the maturity of same,, SECTION IX. 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 Worth, Texas/ ATTEST: City Secretary of the City of Fort Worth, Texas APPROV'i A TO FORM AND LEGALITY: u- City At orney of the City of Fort Worth, Texas NO, UNITED STATES O C STATE OF TEXAS,, COUNTY OF TARRANT SERIES 74 C I T Y 0 E E Q R T W 0 R T -00000-- Street Improvement Bond of the City of Fort North issued for the purpose of constructing, improving and extending the streets, thoroughfares and storm sewers of said Cite, including in such permarnernt pub- lic iznprovemexnts the straightening, widening., paving, grade separation., lighting, and drainage of said streets and thoroughfares, and acquiring the necessary- lands therefor. OW ALL MEN BY THESE P S&VTS: That the government of the City of Fort Worth, a municipal corpora- tion duly created under the laws of the State of Texas., hereby acknowl- edges ck no l-edges itself to owe, and for value received promises ses to pay to bearer, ONE THOUSAND UOQ' ($l,,000.00) in Lawful, md'ney of the United States of America, on the first day of September, A. D. l , together with interest thereon at the rate of percent ( %) per annum, payable semi- annually on the first day of March and September in each year, on presen- tation and:surrender of the annexed interest coupons as they severally fall, due® Bath the principal and interest of this ,bond are payable at the office of the Central_ Hanover Sank and Trust Co pany� in New York City, New York, and for the due and punctual payment of this bawd at the maturity thereof, and the interest thereon when it falls due, the full faith-, credit and resources of the City of Fort Worth are hereby irrevocably' pledged, IAV TESTIMONY WHEREOF., the City of Fort Worth, in the State of Texas has executed this bored by causing it to be signed by its Mayor d attested by the City Secretary, with the seal of the :City thereunto duly impressed'. and has caused the annexed interest coupons to be executed with the facsimile signatures of the Mayor and City Secreta , and has caused this bond to be dated as the First day of September., A D. 1949, CITY OF FORT WORTH$ TEXAS BY Mayor ATTEST: City;Secretary (FORM OF COUPON NOTE) The City of Fort Worth, in the State of Texas, promises to ;pay to Bearer ( } on the lst day of , 19 , at the Central Hanover Bank and. Trust Company, in the City of New York, New York., for interest due that day on its Street Improvement Bond, Series 74, dated September 'j-,, 19119, and num- bered CITY OF FORT O�RT-H., TEXAS BY Mar ATTEST: City Secretary NO, (CERTIFICATE OF COMPTROLLER) OFFICE OF COMPTROLLER., STATE<OF TEXAS, I de hereby certify that there is on file and of record in my of- fice a certificate of the Attorney General of the State of Texas to the effect that this bond has been -e 'ned by hire as required by law., and that he finds it has been issued in conformity with the Constitution and lags of,the State of Texas, and that it is a valid and binding obligation upon said City of Fort North, Texas, and said bond has this day been regis- tered eqstered by and WITNESS my hand and seal of office, at Austin., Texas., this the ---- day of , A. D. 19 Coamptroller of Fublie Accounts of the State of Texas' CITY OF FORT WORTH PRINCIPAL IVATURITIES 2,300,,000.00''STREET IMPROVT BONDS DATED SEPT& ER, 1 1949 DUE SEPTEMBER 13T PRINCIPAL MATURING 1955 102000®00 1956 40,000,00 1957 402000.00 1958 5O OOO,QO 1959 60,OOO,OO 1960 70s-000,00 1961 80.SOOO,00 1962 90,000,00 1963 100,000,00 1964 110,000,00' 1965 12030000,00 1966 130,000,00 1967 1 .02000,00 1965 1502000,00 1969 160,000,00 1970 170,000,00 1971 1802000,00 1972 1900000,00 1973 200,$000,00_ 1974 210$000,00 This bond is one of a series of twenty-three hundred (2,300) bonds numbered consecutively from four thousand and twenty-nine (4,020) to six thousand, three hundred and _twenty-eight (=6,328), inclusive, in the de- nomination no 'ration .of One Thousand Dollars ( I,000.00) each, amounting in the ag- gregate to the sum of Two Million, Three Hundred Thousand Dollars ($2.,- 300,000,00), issued for the purpose of constructing, improving and extend- ing the xtend-ing_the streets, thoroughfares and stony sewers of said City, including in such permanent public improvements the straightening, wide "ng,, paving., grade separation,, lighting and drainage of said streets and thoroughfares, d acquiring the necessary lands therefor, under and by virtue of the Con- stitution and laws of the State of Te s, the Charter of the City of Fort Worth,, and an ordinance lawfully passed and adapted by the City Council of the City of Fort Worth, pursuant to valid authority- from the property t paying qualified voters of said City, at a proper and legal election held on the 2nd day of October, A. D. 1945, 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 Constitution and 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 for the levy and col- lection of a direct annual tax-on all 'taxable property in the City of Fort Worth, and that such taxa has been 'levied ed 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, in-, cluding this bond and the issue of which it is a component part, does not exceed any constitutional or statutory limitation.