HomeMy WebLinkAboutOrdinance 5115 EWORTH,
CORD
ORDINANCE NO. ✓ rj ,J ARY
TEX.
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF SIX
MILLION, SIX HUNDRED AND TWENTY-FIVE THOUSAND
DOLLARS ($6,625,000.00) OF SANITARY SEWER SYSTEM
AND SEWAGE DISPOSAL PLANT BONDS, SERIES 96, OF
THE CITY OF FORT WORTH, TEXAS, BEARING INTEREST
AT THE RATES HEREINAFTER SET FORTH, AND PROVID-
ING FOR THE LEVY, ASSESSMENT AND COLLECTION OF
A TAX SUFFICIENT TO PAY THE INTEREST ON SAID
BONDS AND TO CREATE A SINKING FUND FOR THE RE-
DEMPTION THEREOF AT MATURITY; REPEALING ALL ORDI-
NANCES IN CONFLICT HEREWITH; AND PROVIDING THAT
THIS ORDINANCE SHALL BE IN FORCE AND EFFECT FROM
AND AFTER THE DATE OF ITS PASSAGE.
WHEREAS, it is deemed advisable and to the best inter-
est of the City of Fort Worth that certain improvement bonds
authorized at an election previously held in said City be is-
sued and sold at this time, the date of election, the amount
of bonds authorized thereat, purpose, the amount of bonds
previously sold and the amount now to be sold being as follows:
DATE OF AMOUNT AMOUNT PREVIOUSLY AMOUNT
ELECTION AUTHORIZED PURPOSE 9JLD NOW OFFERED
Jan. 24, $19,000,000 Sanitary $5,770,000 $6,625,000
1961 Sewer Sys-
tem and
Sewage Dis-
posal Plant
NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS:
SECTION 1.
That the bonds of said City to be called "Sanitary Sewer
System and Sewage Disposal Plant Bonds, Series 96," be issued
under and by virtue of the Constitution and laws of the State
of Texas, and the Charter of said City, for the following pur-
pose, to wit: for the purpose of making permanent city improve-
ments by improving, extending and enlarging the sanitary sewer
system and sewage disposal plant of said City, and acquiring
the necessary lands therefor, said bonds amounting in the
aggregate to the sum of Six Million, Six Hundred and Twenty-
five Thousand Dollars ($6,625,000.00) .
SECTION 2.
That said bonds shall be numbered from thirty-one hun-
dred and thirty-one (3,131) to forty-four hundred and fifty-
five (4,455) , both inclusive, of the denomination of Five
Thousand Dollars ($5,000.00) each, aggregating Six Million,
Six Hundred and Twenty-five Thousand Dollars ($6,625,000.00) .
SECTION 3.
That said bonds shall be dated February 1, 1964, and
shall become due and payable serially as follows:
Bond Numbers Maturity Dates Amounts
3,131 to 3,183, both incl. February 1, 1965 $265,000.00
3,184 to 3,236, both incl. February 1, 1966 265,000.00
3,237 to 3,289, both incl. February 1, 1967 265,000.00
3,290 to 3,342, both incl. February 1, 1968 265,000.00
3,343 to 3,395, both incl. February 1, 1969 265,000.00
3,396 to 3,448, both incl. FebLvery 1, 1970 265,000.00
3,449 to 3,501, both incl. February 1, 1971 265,000.00
3,502 to 3,554, both incl. February 1, 1972 265,000.00
3,555 to 3,607, both incl. February 1., 1973 265,000.00
3,608 to 3,660, both incl. February 1, 1974 265,000.00
3,661 to 3,713, both incl. February 1, 1975 265,000.00
3,714 to 3,766, both incl. February 1, 1976 265,000.00
3,767 to 3,819, both incl. February 1, 1977 265,000.00
3,820 to 3,872, both incl. February 1, 1978 265,000.00
3,873 to 3,925, both incl. February 1, 1979 265,000.00
3,926 to 3,978, both incl. February 1, 1980 265,000.00
3,979 to 4,031, both incl. February 1, 1981 265,000.00
4,032 to 4,084, both incl. February 1, 1982 265,000.00
4,085 to 4,137, both incl. February 1, 1983 265,000.00
4,138 to 4,190, both incl. February 1, 1984 265,000.00
4,191 to 4,243, both incl. February 1, 1985 265,000.00
4,244 to 4,296, both incl. February 1, 1986 265,000.00
4,297 to 4,349, both incl. February 1, 1987 265,000.00
4,350 to 4,402, both incl. February 1, 1988 265,000.00
4,403 to 4,455, both incl. February 1, 1989 265,000.00
SECTION 4.
That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 3,131 to 3,395, both incl., 4 % per annum;
Bonds Nos. 3,396 to 3,660, both incl., 2.90% per annum;
Bonds Nos. 3,661 to 3,978, both incl., 3 % per annum;
Bonds Nos. 3,979 to 4,243, both incl., 3.10'% per annum; and
Bonds Nos. 4,244 to 4,455, both incl., 3.201% per annum,
payable August 1, 1964, and semi-annually thereafter on Feb-
ruary 1st and August 1st of each year.
SECTION 5.
That the principal of and interest on said bonds shall
be payable upon presentation and surrender of bond or proper
coupons at the Manufacturers Hanover Trust Company, in the
Borough of Manhattan, City and State of New York.
SECTION 6.
That each of said bonds shall be executed for and on be-
half of the City of Fort Worth, Texas, by the facsimile sig-
nature of the Mayor, approved as to form and legality by the
facsimile signature of the City Attorney, and attested manual-
ly by the City Secretary, with the seal of the City thereon
duly impressed or affixed, and the interest coupons shall_
be executed with the lithographed or printed facsimile signa-
tures of the Mayor and City Secretary of the City of Fort
Worth, Texas, and such facsimile signatures shall have the
same effect as if manually placed on said bonds.
SECTION 7.
That the form of said bonds shall be substantially as
follows:
That substantially the following certificate shall be
printed on the back of each bond:
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 required by law, and that he finds that it has been
issued in conformity with the Constitution and laws of the
State of Texas and the Charter of said City, 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. 19
Comptroller of Public Accounts
of the State of Texas
SECTION B.
That the proceeds from all taxes collected for and on
account of this series of bonds shall be credited to an In-
terest and Redemption Fund for the purpose of paying the in-
terest as it accrues and to provide a sinking fund for the
purpose of paying each installment of principal as it becomes
due; that for each year thereafter while any of said bonds, or
interest thereon, are outstanding and unpaid, there shall be
computed and ascertained, at the time other taxes are levied,
the rate of tax based on the latest approved rolls of said
City as will be requisite and sufficient to make, raise and
produce in each of said years a fund to pay the interest on
said bonds and to provide a sinking fund sufficient to pay
the principal as it matures, or at least 2% of the outstand-
ing principal as a sinking fund, whichever is greater, full
allowances being made for delinquencies and costs of col-
lection; that a tax at the rate as hereinabove determined is
hereby ordered to be levied and is hereby levied against all
of the taxable property in said City for each year while any
of said bonds, or interest thereon, are outstanding and unpaid;
that the said tax each year shall be assessed and collected
and placed in the Interest and Redemption Fund; and that the
City Treasurer shall honor warrants against said fund for the
purpose of paying the interest maturing and principal of said
bonds and for no other purpose.
SECTION 9.
That to pay the interest scheduled to mature on August 1,
1964, there is hereby appropriated the sum of One Hundred
Seven Thousand, Sixty and no/100 Dollars ($107,060.00) from
funds of the City available for such purpose; and that the
money thus appropriated shall be used for no other purpose
than to pay said interest.
SECTION 10.
That the bonds herein authorized shall be presented to
the Attorney General of the State of Texas for examination and
approval and to the Comptroller of Public Accounts for regis-
tration; that upon registration of said bonds, the Comptroller
of Public Accounts (or a deputy designated in writing to act
for the Comptroller) shall manually sign the Comptroller's cer-
tificate of registration prescribed herein to be printed on
the back of each bond; and that the seal of the Comptroller
shall be impressed, or printed, or lithographed on each of
said bonds.
SECTION 11.
That the sale of the bonds herein authorized to Re-
public National Bank of Dallas and The Fort Worth National
Bank and Associates at a price of par and accrued interest
to date of delivery, plus a premium of $1,070.00, is hereby
confirmed; and that delivery of such bonds shall be made to
such purchasers as soon as may be after the passage of this
ordinance upon payment therefor in accordance with the terms
of sale.
SECTION 12.
That all ordinances and resolutions or parts thereof in
conflict herewith are hereby repealed.
SECTION 13.
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
APPROVED AS
AS TO FORM AND LEGALITY:
5, AEkL� _ e
City Attorney of the City
of Fort Worth, Texas
NO. $5,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF FORT WORTH
SANITARY SEWER SYSTEM AND SEWAGE DISPOSAL PLANT BOND
SERIES 96
The City of Fort Worth, in the County of Tarrant, State
of Texas, a municipal corporation duly incorporated under the
laws of the State of Texas, for value received, hereby promises
to pay to the bearer hereof, on the 1st day of February, 19
the sum of
FIVE THOUSAND DOLLARS
in lawful money of the United States of America, with interest
thereon from date hereof at the rate of % per annum,
evidenced by coupons payable August 1, 1964, and semi-annually
thereafter on February 1st and August 1st of each year, both
principal and interest payable upon presentation and surrender
of bond or proper coupon at the Manufacturers Hanover Trust
Company, in the Borough of Manhattan, City and State of New
York, and the City of Fort Worth, Texas, is hereby held and
firmly bound, and its faith and credit and all taxable prop-
erty in said City are hereby pledged for the prompt payment
of the principal of this bond at maturity and the interest
thereon as it accrues.
This bond is one of a series of thirteen hundred and
twenty-five (1,325) bonds of like tenor and effect, except as
to number, interest rate and maturity, numbered from thirty-
one hundred and thirty-one (3,131) to forty-four hundred and
fifty-five (4,455) , both inclusive, of the denomination of
Five Thousand Dollars ($5,000.00) each, aggregating Six Mil-
lion, Six Hundred and Twenty-five Thousand Dollars ($6,625,000.00)
for the purpose of making permanent city improvements by im-
proving, extending and enlarging the sanitary sewer system
and sewage disposal plant of said City, and acquiring the
necessary lands therefor, under and by virtue of the Constitu-
tion and laws of the State of Texas and the Charter of said
City, and pursuant to an ordinance passed by the City Council
of the City of Fort Worth, Texas, which ordinance is duly of
record in the Minutes of said City Council.
The date of this bond in conformity with the ordinance
above mentioned is February 1, 1964.
AND IT IS HEREBY CERTIFIED AND RECITED that the issu-
ance of this bond, and the series of which it is a part, is
duly authorized by law and by a vote of the resident, quali-
fied electors who own taxable property in said City and who
had duly rendered the same for taxation in the City of Fort
Worth, Texas, voting at an election held for that purpose with-
in said City on January 24, 1961; that all acts, conditions
and things required to be done precedent to and in the issuance
of this series of bonds, and of this bond, have been properly
done and performed and have happened in regular and due time,
form and manner as required by law; that sufficient and proper
provision for the levy and collection of taxes has been made,
which, when collected, shall be appropriated exclusively to the
payment of this bond and the series of which it is a part,
and to the payment of the interest coupons hereto annexed as
the same shall become due; and that the total indebtedness of
said City of Fort Worth, Texas, including the entire series of
bonds of which this is one, does not exceed any constitutional,
statutory or charter limitation.
IN WITNESS WHEREOF, this bond has been signed by the
imprinted or lithographed facsimile signature of the Mayor of
said City, countersigned by the manual signature of the City
Secretary, and approved as to form and legality by the im-
printed or lithographed facsimile signature of the City At-
torney, and the interest coupons attached hereto have been
signed by the imprinted or lithographed facsimile signatures
of the Mayor and City Secretary, and the official seal of
said City has been duly impressed, or printed, or lithographed
on this bond.
CITY OF FORT WORTH, TEXAS
ATTEST: BY
Mayor
City Secretary
APPROVED AS TO FORM AND LEGALITY:
City Attorney
That the form of coupon shall be substantially as follows:
The City of Fort Worth, in the State On the
first day of
of Texas, promises to pay to bearer at the
Aug., 19 _
Manufacturers Hanover Trust Company, in the Feb.,
City of New York, New York, for interest due NO. , - $
that day on its Sanitary Sewer System and SERIES 96
Sewage Disposal Plant Bond, Series 96, dated BOND NO.
February 1, 1964.
ATTEST: CITY OF FORT WORTH, TEXAS
BY
City Secretary Mayor