HomeMy WebLinkAboutOrdinance 1630 The City Council of the City of Fort Worth net in
rogitlar session in the Coungl Chamber at the City Hall at nine-
thirty o+clock A. . ,, adneaday, the 23rd day of Ostober, A. D.
1929, and upon roll call the following were presents 9m. Bryce,
':;ager, Dr. W. R. Thompson, '. 11] d Burton, Vara Zandt Jarvis, Wm.
Ka=1g, -,. T. Renfro, A. E. Th mos, and J. R. Penn, Councilmen,
constituting a majority and gzac um of the membership of the
said board, rd I. L. Van Zand•�,\ Jr.,, City aeoretary-Tressumr,
was in attondanae at said mooting, and the following proceedings
among other things were had an� dont
Counoilnan pton seconded by-Councilmen
Jaryl,� moved -the adoption o.V the following ordinances
L
ORDINANCE NO�1680
AN ORDINANCS PROVIDING FO THE 133UAACE OF NIGOM BLE
COUPON BONDS OF THE OOVIMIMENT OF I CITY OF FORT WORTH, AMOUNT-
ING TO THE PRINCIPAL SUN OF 710 In1BRING
AND FIFTY THOUSAND
DOLIARS (4260,000.00), OUT OF AN A U L '•:ED I38UE OF FIVE HUNDRED
THOUSAND DOLIARS (#500,000.00), AID i_3JV'-_h AS SERIFS b7
AND DESIGNATED AS FIRE PROTECTION B ", TO BE ISSUED FOR
THE PURPOSE OF IMPROVING AND EXTENDING Fi_, 3YSTksM OF FIRE PRO-
TECTION OF SAID CITY j ILCH OF SAID 802M3 TO BE IN THE DENOMINATION
OF ONE THOUSAND DOLIARS (4l 000.00), TO 'Br; DATED NOVEMBER 33T,
1989, 'l.TURING FROM FIVE (5) TO FORM(40) YEARS FROM THEDATH
THEREOF, AND TO BEAR INTEREST AT THE TATWIOF FOUR AND THREE
FOURT33 (4%) PER CENT PER ANi PA . BLE BE�YI-�ANN�►LI�C, THE
INTIM33T TO BE ECPRE83ED IN CAPON NU M kt2%CHED TO THE, BONDS,.
DIRECTING TNLT THE SAID BONDS BE Im Tio Mr THE MkYOR AND CITY
33CRMRY-TREASURER; AND PROVIDING Fot AN &DSX%TT TkX UIVY FOR
THE PAYMENT OF THE INTEREST ON SAID BPND`u' ATO CRH�T$ b% SINE+
ING FUND FOR THE WMENT OF a" PRIEC,Z PAL Tr•'130F, YDS THE TAMS
KkTURIZ FROM TIME TO TIMET AND PROVIMNG TItAT THIS ORDINANCE
sIiALL 3., IN FORCES AND EFFECT M- Gj,' nID AFTs`R THE DAT,8 OF ITS
PASSAGE.
. iTO,EAS, on the 22nd day o4 May, A. D. 1929, pursuant
to the authority vested in said City�by Section 19 of Chapter
XXV of the Charter of the City of rot ejorth, adopted by the
qualified voters within the limits said City on the 11th day
of December, A. D. 1924, and the 14,09 and constitution of the
State of Texas, the City Council of(the City of Port Worth, Texas,
`a
i
by a resolution and an ord*nsnce of that date,, directed the sub-
mission to the resident property tax paying qualified voters
of said City, at an election to be held in said City on the 85th
day of dune, A. D. 1984,, of the right, power and authority of
the City Council of said City to issue negotiable coupon bonds
of the oorpvrate government of the said City in the principal
sum of Five Hundred ThoussrA Dollars ($M,000.00), for the
purpose of improving and extending the system of fire protection
of said City by constrwting, building and *quipping a new
central fire station,, acquiring the necessary land therefor,
and extending and improving the fire alarm signal system; and
tMMJ.S, in conformity with the said resolutionand
ordinance,, the Mayor of said City did make proclamation of said
election, and fixed the date thereof for the 85th day of June,
Ao D, 1999] and
WkiWaa, said election order and proclamation thereof
was prepared and published in the mariner and for the time pros-
cribed in said resolution and ordinanss; and
W"HMBLS, on the 25 mh day of June, A. D. 1988, said
election was held in the City of Fort Worth 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 tax paying qualified voters of said City; and
WRAtFd!►8, the official ballot on such occasion, in con-
formity with the resolution anti ordinance of the City Council,
hereinabove mentioned, and in accordance with the order of said
election,, in form and in substanpe reads as follows
b#ftcTAL BALLOT
r.
,Wali the -City of Fort Worth; through its City Council,
Issue its negotiable coupon bonds Tunning fiom five (5) to forty
.(40) years), in the principal sum of Two Rillibn (),$2,000,000.00)
D0114t,s, for, the4.purppse of constructing, improving and extending
the streets•, thoroughfares and storm sewers of said City includ-
ing in such permanent -improvements the straighte#ng,' wi-Aening
paring; grade separation anddrainage of said streets and thorAugh:.
faxes the first of said bonds being payable at the bxpiration. of .
five N years from the date thereQf, and serially thereafter as
may be determined by the said City Council, so. that the last matur+
Ang bonds shall become payable within forty '(40}. years from the
date 'thereof a bearing intereet at a. rate not to exceed five .(5%)
per cent per annum from the date thereof, payable semi-annually,
and levy a sufficient tax to pay the interest on said bonds and
dVeate a sinking fund sufficient to redeem. said bonds at the. mu--
tutity thereoc'7
I'OA the Issuance of Street Improvement Bonds.
AGAIN,$T the tbauanoe of Street Improvement Bonds.
�I.
Shall the flty �bt 'Fort Worth, through its City Council,
issue its zegotlAbI4 oaupon bonds running from five .(5,) ° to fort_.y
i(' -0) years, in :6he priaaipal sing of Five Hundred Thousand
19500j-
000.00) Dollatv, fbt the 'ptikpose of improving and extending the
system of fife,prbt8AUA of .said. City by construct,ingv' building
and equipping & new terM al fire station., acquiring the necessary
land therefor; and extehd1ng and impioving the fire alarm signal.
.system), the firot of sla"id bonds being payable at .the expiration
of five (5) years from the date ,thereof, and serially thereafter
as may be determined 'bar the said City Council, so that the last
:maturing bonds shall bW0eme payable within-forty (40) years from
the date thereof, beah%g. ihtei'est at a rate nat to exceed five
45%) per vent per anuli* from the date thereof, payable semi,an-
nually; and levy a suffl:618Mt tax to pay the interest on said
bonds and create a ainkt ng.fund sufficient to redeem said bande
at the maturity •themeof
FOR the 'issuance of t1te Protection Bonds.
AGAINST the ttzuAbde bf Fire 'Protection Bonds-4
IYI.
Shall the City of Fort Worth, through its Cit Councll$
issue its negotiable coupon bonds running from five. }, to forty
(40) years, in°.the prinelpal sum of Five Hundred Thousand 0500,
'000.00) Dollars, for the purpoge of establishing, equipping, ex-
tending and reproving a municipal aizort and landing field fol
.aeroplanes and other aerial Machines and acquiring the necessary
lands, and property therefofy the first of said bands being pay-
able at the expiratiop of five (5), years from th date thereof;
and serially therg4fter,°as may be determined by the said City
Council, so that the last maturing bohde -shall become payable
within forty (40) years from the date thereof; beating interest
s.t a orate not to exceed five (5%) per, cent pet annum from the date
thereof, payable semi-annually, and, levy a spffi.cient tax to pay
the interest on said bonds and create a sinking fund sufficient
to redeem said bonds at-the 'maturity thereof?
FCR the Issuance of Airport BoiidiN
AQAINOT the Issuance of AL-rpbit' h6nde.
,
WHEREAS, in the election held in said City of Fort
Worth on the 25 th day of Jbne, A. D. 1989, on the question of
the issuance of said bonds hereinbefore mentioned, there was a
majority of votes in favor of the issuance of said bonds; and
by virtue of said election, said Council
In vested with power and authority by and from the people to
Issue said bonds for the purposes aforementioned, and to
make same valid and binding obligations of the corporate govern-
ment of the City of Fort Worth; and
WH,AREkS, it is dewed wise and expedient by the City
Council of the City of Fort north, in the exercise of the
discretion reposed in it by law, that only Two Hundred and Fifty
Thousand Dollars ($280,000.00) worth of the authorised issue
of Five Hundred Thousand Dollars ($8A0,000.00) be issued in
bonds at thin time; said bonds to be issued being a part of
Series 87 and designated as *Fire Protection Bonds."
NOW, EFORE,
BE IT ORMXNED BY THE CITY COUNCIL OF THE CITY OF
FORT WORM
SECTION 1.
That pursuant to Section 19 of Chapter 7IXV of the
Charter of the City of Fort North, adopted by the qualified
voters within the corporate limits of said City on the 11th
day of December, A. D. 1924, and the laws and constitution of
the State of Texas, and pursuant to a vete of the resident
property tax paying voters of the City of Fort Vdorth, at an
election held in said City for such purpose on the 85th day of
Jltne, A. D. 1929, that the municipal government of the City of
Fort Worth issue its corporate negotiable coupon bonds in the
principal sum of Two Hundred and Fifty Thousand Dolls"
($880,000.00), out of an authorised issue at said election of
Five Hundred Thousand Dollars ($8006000.00), and which authorised
Issue is known as Series 57 and designated as "Fire Protection
Bonds," and the bonds so to be issued shall be in the denomination
of One Thousand Dollars ($10000.00) each, dated November ist'
1929, bearing interest at the rate of four and three fourths (4 $)
per cent per annum, payable semi-annually on the let day of
May and November of sash year respectively, both principal and
interest of said bonds being payable at the Hanover National
Bank in the City of New Yo7rk, Ztete of New York, the semi-
annual interest being evidenced by interest coupons attaPhed
thereto, all of said bonds to be executed for and on behalf of
the City of Fort orth by the Mayor thereof, attested by,its
City Secretary-treasurer, with the seal of the City thereon duly
impressed, but the interest coupons to be executed with the
lithographed facsimile signature of the Mayor and City Secretary-
Treasurer of the City of Fort '• ortk=, each of said bonds and
coupons shall be negotiable and payable to bearer, and said
bonds shall be numbered in the way and manner hereinafter set
out, maturing rive (5) years from the date thereof and annu&14
thereafter until the last maturing bond shall become payable
within forty (40) years from the date thereof, and the bonds
themselves, two Hundred and Pifty (250) in number, shall be
numbered consecutively from one (1) to two hundred and fifty (830)
Inclusive, and shall mature in the amount Brad manner hereinafter
set out; said bonds shall be used for the purpose of improving
and extending the system of fire protection of said City by
oonstructing, building and equipping; a new central fire station,
acquiring the necessary land therefor, and extending and improv-
ing the fire alarm signal system.
That the general form of said bonds and the coupons
thereto annexed and the interest added to said bonds shall be
executed substantially in the following forms
NO. UNITED STATED 41000
OF AMERICA
STATE OF TEXAS, COUtdTY OF TARRANT
SERIES.
C I T Y O F F 0 R T W 0 R T H
---0000000---
Bond of the City of Fort Worth
issued for the purpose of
KNOW ALL MEN BY THESE PRESENTS:
That the government of the City pf Fort Worth, a
municipal corporation, duly created under the laws of the
State of Texas, hereby acknowledges itself to owe, and for
value received promises to pay, to bearer,
ONE THOUSAND DOLLARS ($1000)
In lawful money of the United Stated of America, on the
together with interest thereon
at the rate of per centum per annum
payable semi-annually on the 1st day of and
in each year, on presentation ar�d 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 Hanover National Bank, In New York City,
N. Y., and for the due and punctual payment of this bond 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 Fledged.
This bond is one of a series of
bods numbered consecutively from
to inclusive, each of the denomination
or One Thousand Dollars ($1,000.00), amounting in*the ;at-
gregate to the sum of
issued for the .purpose of
under and bX virtue of the Constitution and haws of the
State of Te as, the Charter of the City of Fort 17orth, and
an ordinance of the City Council of the City lawfully pass-
ed and adopted on the , pursuant to
valid authority from the property tax paying qualified voters
of said City, at a proper and legal election held on the
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 the^l, that all acts, conditions v.nd things re-
quired by the laws of the State of Texas, and of the Charter
and Ordinances of the City of Fort :?North, precedent to and in
t
the issuance of this bond, have been done, have happened, and
have been performed in proper and lawful time, form and man-
ner 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 collection of
a direct annual tax on all taxable property in the City of
Fqrt Worth, 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 thoreof, 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 staturoty limitation.
IN TESTI11;40NY WHEREOF, the Citj of Fort Worth, in
the State of Texas, has executed this bond by causing it to
bd signed by its Mayor and attested by the City Secretary
Treasurer with the seal of the City ther�uhto duly impressed,
and has caused the annexed interest coupons to be executed
with the facsimile signature of the Mayor and City Secre-
tary-Treasurer, and dated as the ist day of
CITY OF FORT 'NORTH, TEXAS
Mayon
ATTEST:
City Secro: ,%ry-Treasurer.
(FORM OF COUPON NOTE)
SERIES
NO.
The City of Fort Worth, in the State of Texas,
bromises to pay to bearer
on the lst day of ,
at the Hanover National Bank in the City of New York, N. Y. ,
for interest due that day on its municipal bonded dated
and numbered
CITY OF' FORT WORTH, TEXAS
yor
AT!IBST:
City ecmaFy- reasurer.
SBCTION II.
That the said 'bands so to be issued by the City of
Fort North, amounting to Two Hundred and Fifty Thousand Dollars
($250,000,00), out of the said authorised issue of Five Hundred
Thousand Dollars ($M,000,00), shall be issued for the purpose
of improving and extending the system of fire protection of
said City by constructing, building and equipping a nes+ central
fire station, acquiring the necessary land therefor, and extend-
ing end improving the fire alarm signal system of said City and
shall consist. of two hundred and fifty bonds, numbered from one
(1) to two htradred and fifty (250) inclusive, and shall bear
interest at the rate of four and three fourths per cent (4f%)
per annum, payable semi-4mually, as aforesaid; all of which
said two hundred and fifty (250) bonds shall be known as Series
57 and shall be styled and desipated as "Fire Protection Bends"j
that all of the said bonds, comprising the sum total of Tao
Hundred and Fifty Thousand Dolls" ($250,000.00), shall mature
In the manner and amounts as not out in the tabulated statement
herewith attached, to-wits
CITY OF FORK' WORTH
PRINCIPAL MATURITI93
6030,000.00 FIM rROUCTION BONDS
DATED NOS IST, 1929
DUE NOVMUMR I-ff PRINCIPAL
MATURINO
1934 50000.
35 5,000.
36 5,000.
37 1,000.
38 8,000.
39 80000.
1940 81000,
41 8,000.
42 5,000.
43 5,000.
44 8,000.
45 6,000.
46 6,000.
47 5,000.
r'1000.
49 8,000.
1950 8,000.
51 8,000.
52 8,000.
53 8,000.
54 stow.
55 8,000.
S6 8,000.
67 8,000.
88 8,000.
59 8,000.
1960 8,000.
61 8,000.
62 8,000.
cz 9,000.
64 9,000.
65 9,000.
66 9,000.
67 0,000.
68 9,000.
69 9,000.
SECTION IIx
That the said bonds are hereof authorized to be
sold to the best advantage, tat in no event shall same be
sold for less than par, and the accrued interest to the time of
delivery and the proceeds thereof, to be placed in the treasury
of the City of Fort Worth and utilized for the special purposes
for which they are created,
SECTION IV
That for the purpose of creating a sinking fund for
the payment and complete extinguishment of the foregoing bonded
debt, principal and interest, and all and every part of same,,
there is hereby levied and there shall be assessed and oolleoted
as provided by law, set apart and appropriated for the said
purpose, an annual, direct special ad valorem tax for the year
1988, and every successive year thereafter during the life of
said bonded debt or any part thereof of .95 cents (or such
an amount as may be neoessary and adequate, be it more or less)
on every One hundred ($100.00) Dollars of property valuation,
real, personal and mixed, subject to taxation and not exempt
therefrom under the Constitution and law of the State of Texas,
situated and owned in the City of Fort Worth on the lot day of
January 1930, and on the Ist day of January of each year there-
after until said debt represented by said bonds and coupon
Interest notes shall have been fully paid, and if, at any time,
such tax should be insufficient, then it shall be the duty of
the City Council or any other governing body of the City of Fort
Worth, to not apart and appropriate eueh additional amount of
money out of the general revenues of the said City, as may be
requisite to supply the deficiency until all interest shall have
been paid and the sinking fund established as required by the
Constitution of the State of Texas and the Charter of the City
of Fort Worth,
SBCTIOH v
That it shall be the duty of the City Council of
the City of Fort Worth and its successors, and of the government
of the City of Fort Worth, by levying taxes for general purposes
for the said City of Fort North for the year 1930, and for
every successive year during the life of said bonded debt or
any part thereof, to include in such levy the special tax of
.95 cents on the One Hundred ($100.00) Dollars property
valuation (or so much thereof as may be requisite and necessary)
provided for in the next preceding section of this ordinance,
and such special tax shall on no socount whatsoever 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
of the principal of all and singular the bonds hersinabove men-
tioned as some 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 distinct account and so specified as such on his boob.
SECTION VII
That as soon as convenient after said bonds shall
have been prepared and signed in the manner prescribed by the
ordinance, they shall be submitted to the Lttorney deneral of the
State of Texas, together with a certified copy of this ordinance
and a statement of the total bonded indebtedness of the City of
Fort Worth, ine lsiing the bonds heroin and hereby authorized and
the assessed value of the taxable property in said City, for his
approval, and none of said bonds shall be negotiated, sold or
transferred until the some shall have received the official
sanction of the said Attorney General as prescribed by law, wAd
thereafter said bonds shall be placed with the .';tate Comptroller
of Public Accounts for registration.
SECTION VIII
That the City Seoretary-Treasurer of the City of
Fort Worth, or other lawful custodian of such fund, during the
months of November and May of each and every year during the
life of said bonds or pert thereof, and not later than the bth
day of each of said months, shall transmit sufficient money out
of the interest funds hereinbefore ereatwi, for the pay#pent of
the seam.-annual interest accruing on said bonds, to the Hanover
National Barak of the City of Now York, •:-tate Elf Now York, and
likewise proper remittance shall be made in due course to pro-
vide for the payment of the principal of any of said bonds in
advance of the maturity of same.
SECTION IR
All ordinances and parts of ordinances in conflict
herewith be and they are hereby expressly repealed.
SECTION R
The holding or adjudication of any aeotion, portion
or part hereof to be invalid, stiall rot affect the validity of
any other section or part of this ordinance, but all such other
sectio-a, portions end parts hereof shall be and remain valid.
s ECTION is
That this ordinance shall take effect andtbe in full
force and offset from and after the date of its passage and it
is so ordained.
Mayor William Bryce, presidinG at said meeting,
submitted the motion to adopt said. ordinance and all of the
Counci]men, ineltding the Mayor, voted ";,,-Ye" thereon and none
voted "No", and the motion to adopt the ordinance was declared
to be unanimously passed and adopted,.
THE 2 ZLTS OF TFC i
COUNTY OF VLRRANT f
I, I. L. Van 2andt, Jr., ,C'lSeeretary-Treasurer
of the City of Fort Worth, do hireby cattify that the above
and foregoing ordinance is a true And dorreot copy of Ordinance
1�c. 163% and that same was UrllnIMOUGly passed and adopted by
the City Council of the City of Fort '.;orth, Texas, at a regular
nesting held in the Council Chambers at the City Hall on
"°edneoday, the 23rd day of October', L. D. 1929.
JXTXi&:'1 my hand at ',.'art orth, Texas, this the
day of Uotober, D. 1929r
ecr a eas
' t