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Home My WebLink AboutOrdinance 11429DALLAS-FORT WORTH INTERNATIONAL AIRPORT CONCURRENT REPLACEMENT BOND ORDINANCE (SERIES 1979, BOND NOS. 17584, 18965, 18966, 19021, 19(122, 20950, 21993 and 28374) CITY OF DALLAS ORDINANCE NO. ~/ CITY OF FORT WORTH ORDINANCE NO. ~ ~' 7' An ordinance passed concurrently by the City Councils, respectively, of the Cities of Dallas and Fort Worth, authorizing the issuance of eight (8) $5,000.00 replacement bonds to replace Bond Numbers 17584, 18965, 18966, 19021, 19022, 20950, 21993 and 28374 of Dallas-Fort Worth Regional Airport American Special Facilities Revenue Bonds, Series 1979 and resolving other matters related thereto. WHEREAS, the Cities of Fort Worth and Dallas by ordinance passed concurrently on December 5,1978 and December 6, 1978, respectively, authorized the issuance of and sold their Dallas -Fort Worth Regional Airport American Special Facilities Revenue Bonds, Series 1979, in the aggregate principal amount of $147,000,000, dated January 1, 1979; and WHEREAS, eight bonds of the above described Series of bonds, to-wit: Bond Numbers 17584, 18965, 18966, 19021, 19022, 20950, 21993 and 28374, each in the denomination of $5,000.00, and bearing interest at the rate of 7.25% per annum, payable semiannually on each May 1 and November 1 (Interest Coupon No. 26 and subsequent coupons appertaining thereto unpaid), and maturing November 1, 2012 (the "Bonds") is outstanding and unpaid; and WHEREAS, a notarized affidavit of Abe Mayfa (the "Owner") and the Operation Manager of the Maryland Heights, Missouri office of Edward D Jones & Co. ("Edward D Jones"), to the effect that the Bonds were forwarded by United States mail, on November 12, 1991, from the Owner to Edward D Jones' offices in Maryland Heights, Missouri, but were never received nor returned to the Owner and are believed to be lost or destroyed in the mails, has been received and is on file in the offices of the Director of Finance of the Dallas-Fort Worth International Airport, and such affidavit has been accepted by the City Councils of Dallas and Fort Worth as sufficient evidence that the Bond is lost, mutilated or damaged, within the meaning of Article 715a of the Revised Civil Statutes of Texas, and a certified copy of such affidavit is attached hereto as a permanent part hereof; and WI-iEREAS, at the time the loss occurred, Coupon Number 26, coming due on November 1, 1991 and subsequent coupons were attached to each of said Bonds, and therefore neither said coupon nor any subsequent coupons have been presented for payment; and WHEREAS, the Owner of said Bonds and lost coupons desires that replacement bonds be issued to replace the aforesaid lost, mutilated or damaged Bonds and lost coupons; and WHEREAS, by Acts 1965 of the 59th Legislature of the State of Texas, Chapter 334, commonly known as Article 715a of the Revised Civil Statutes of Texas, the City Councils of Dallas and Fort Worth are authorized to issue without an election bonds to replace any bonds theretofore lawfully issued which are outstanding and which have been destroyed, mutilated, damaged, lost or stolen, provided that such replacement bonds may be issued only upon indemnification satisfactory to the Cities establishing proof of ownership and the circumstances of the loss, theft, destruction, damage or mutilation of the bonds for which replacement bonds are being sought; and WHEREAS, an open penalty Sole Obligor Indemnity Bond No. 000106191-74092582260 dated February 27, 1992, and executed by an authorized representative of the American Insurance Company, as obligor, has been received and is on file in the office of the Director of Finance of the Dallas -Fort Worth International Airport and such indemnity bond is acceptable to the City Councils of Dallas and Fort Worth as sufficient indemnity under the provisions of Article 715a of the Revised Civil Statutes of Texas, and a certified copy of such Sole Obligor Indemnity Bond No. 000106191-74092582260 is attached hereto as a permanent part hereof. NOW, THEREFORE, BE 1T ORDAINED BY THE CITY COUNCIL OF THE CITY OF DALLAS: NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH. Section 1. That there is hereby authorized to be issued replacement bonds to replace the Bonds and attached lost coupons. Said replacement bonds and the interest coupons appertaining thereto shall be in the same form and in all respects of like tenor and effect as the Bonds, and the interest coupons appertaining thereto, except that such replacement bonds and the interest coupons appertaining thereto shall be signed 2 manually, or in facsimile, as provided by law, by the proper officials holding office at the time of their issuance, and that no interest coupon shall mature prior to November 1, 1991. Section 2. That said replacement bond shall be dated January 1, 1979, which is the date of the Bonds. Section 3. That said replacement bonds and all interest coupons appertaining thereto shall have the letter "R" preceding the Bond Number and following the Interest Coupon Number Section 4. That after said replacement bonds has been executed, it shall be the duty of the Chairman of the Board of Directors of the Dallas -Fort Worth International Airport or some officer, employee or attorney of the Board acting through authority from the Chairman, to deliver said replacement bonds to the Attorney General of Texas for examination and approval. After approval by the Attorney General of Texas, said replacement bonds shall be delivered to the Comptroller of Public Accounts of the State of Texas for registration. The replacement bonds thus registered shall remain in custody of the Chairman of the Board, or subject to his order, until the delivery thereof to the owner of the original Bonds being replaced thereby. Section S. That the Comptroller of Public Accounts of the State of Texas is hereby authorized and directed to register the replacement bonds in the same manner as the original Bonds were registered, giving it the same registration number as the original Bonds except that such number shall be preceded by the Letter "R." The Comptroller shall date his registration certificate as of the date of registration of the replacement bonds. Section 6. That all provisions of the ordinance passed by the City Councils of Dallas and Fort Worth on December 6, 1978 and December 5, 1978, respectively, authorizing the series of bonds of which the Bonds was a part and which are not in conflict with this ordinance are hereby adopted by reference and shall be a part of this ordinance. Section 7 That the preparation and passage of this ordinance by the City Councils of Dallas and Fort Worth and the adoption of the resolution recommending same by the Board of Directors of the Dallas -Fort Worth International Airport and the performance of each and every, all and singular, the acts ordered hereby and all acts or expenditures incidental thereto shall be at no cost to the City of Dallas, the City of Fort Worth, 3 or the Dallas -Fort Worth International Airport and shall be borne entirely by and be the sole liability of the Owner of the lost Bonds which has requested the issuance of replacement securities as provided herein. Section 8. This ordinance may be executed in counterparts, and when duly passed by both Cities, and separate counterparts are duly executed by each City, the ordinance shall be in full force and effect. ~ ~ ~P .~'' +_ ~;- .., .~ ~,- s. ~r • ke 4..~ _ ,n ~ J ~ ~ TM ,~a,~ City Secieiary ~`` ""^' •~~' City'of Fort Worth, Texas` ,+~,rr fre~,r~,~~}~~a'a" yor, City of Fort orth, Texas APPROVED AS TO FORM LEGALITY: City Attorney City of Fort Worth, Texas PASSED• /D-- ~ ~` CORRECTLY ENROLLED• 4 .]T '>w1ASrER FILI•1 / 7~) off' Fort Worth, ~''exas ACCOUNTING 2 ~•INi/V 7RANSPORTi~~ aid Council C~nnmunicati~~n IAAfER ApMINIS1RATi6N i E N REFERENCE NUMBER Lo(~ NAME PA(;E , ,WO 10/19~~"3' G-10387 12BONDS 1 of 2 SUIBJECT CONCURRENT ORDINANCE OF THE CITIES OF FORT WORTH AND DALLAS AUTHORIZING THE ISSUANCE OF A 55,000 REPLACEMENT BOND AND INTEREST COUPONS TO REPLACE LOST DALLAS-FORT WORTH REGIONAL AIRPORT AMERICAN SPECIAL FACILITIES REVENUE BONDS, SERIES 1979 RECOMMENDATION. It is recommended that the City Council adopt the attached concurrent ordinance authorizing the issuance of replacement Dallas-Fort Worth Regional Airport American Special Facilities Revenue Bonds and Coupons DISCUSSION The Cities of Dallas and Fort Worth, by ordinance passed concurrently on December 5, 1978 and December 6, 1978, authorized the issuance of and sold their Dallas-Fort Worth Regional Airport American Special Facilities Revenue Bonds, Series 1979, in the aggregate principal amount of 5147,000,000, dated January 1, 1979 The following bonds of the above-described series of bonds are outstanding and unpaid Bonds Numbers 17584, 18965, 18966, 19021, 19022, 20950, 21993 and 28374, each in the denomination of 55,000, and bearing interest at the rate of 7 25% per annum, payable semi-annually on each May 1 and November 1 (lnterest Coupon No 26 and subsequent coupons appertaining thereto unpaid), and maturing November 1, 2012 (the "Lost Bonds and Coupons") A notarized affidavit of Abe Mayfa (the "Owner") and the Operation Manager of the Maryland Heights, Missouri office of Edward D Jones & Co. ("Edward D Jones"), to the effect that the Bonds were forwarded by United States mail, on November 12, 1991, from the Owner to Edward D Jones' offices in Maryland Heights, Missouri, but were never received nor returned to the Owner and are believed to be lost or destroyed in the mails, has been received and is on file in the offices of the Director of Finance of the Dallas-Fort Worth International Airport. When the loss occurred, Coupon No 26, coming due on November 1, 1991 and subsequent coupons were attached to each of said Bonds, and therefore- neither said coupon nor any subsequent coupons have been presented for payment Edward D Jones & Co , as principal, and American Insurance Company, as obligor, have posted a bond of indemnity to indemnify the Dallas-Fort Worth International Airport and the paying agents from any and all claims, actions or suits, and any and all costs and expenses, together with reasonable attorneys' fees, that may be caused by the issuance of a replacement bond and coupons This indemnity 'bond is on file with the Director of Finance of the Dallas-Fort Worth International Airport. •=~~ Printed on recycled paper City of Fort Worth, Texas Mayor and Council Crnnmunication DA7`E REFERENCE NOMBER LO(~ NAME PAGE 10/19/93 G-70387 92BONDS 2 of 2 svlsJECT CONCURRENT ORDINANCE OF THE CITIES OF FORT WORTH AND DALLAS AUTHORIZING THE ISSUANCE OF A 55,000 REPLACEMENT BOND AND INTEREST COUPONS TO REPLACE LOST DALLAS-FORT WORTH REGIONAL AIRPORT AMERICAN SPECIAL FACILITIES REVENUE BONDS, SERIES 1979 The .Dallas-Fort Worth International Airport Board, by resolution adopted on February 2, 1993, requested and recommended that the City Councils of the Cities of Dallas and Fort Worth pass an ordinance to authorize the issuance of a replacement bond and coupons The owner of the lost Bond and Coupons has agreed that the adoption of the attached ordinance and the F~erformance of each and every act ordered by such ordinance shall be at no cost to the City of Fort Worth, the City of Dallas or the Dallas-Fort Worth International Airport and shall be the sole liability of Edward D Jones & Co It is the opinion the Department of Law that all required conditions for adoption of the attached ordinance have been satisfied and the lost security bond is sufficient to indemnify the City of Fort Worth if the Lost Bond and Coupons are ever presented for payment FISCAL INFORMATION/CERTIFICATION. 'The proposed action does not require the expenditure of any funds by the City of Fort Worth CB m - Submitted for City Manager's FUND ACCOUNT ENTER AMOUNT CITY ECRETARY Office by: (ta) /~ r~flp ~V ® Mike Groomer 6140 /'1rf t1 ~ '~ '' Oriiginatmg Depvtment Hesd: ! ( {~ '/ i!1 ~ I T Y C o U 1 `I V 1 t ,. Wade.Adkins 7623 (from) ~C7 29 'E993 Fur Additional Information ~ , Contact: uu.~.t/ Wade Adkins 7623 City S~ttry of the City of Fort Worth.'l+exas A opted Ordinance No.~~~ t~~ Printed on recycled paper