HomeMy WebLinkAboutOrdinance 11236EXHIBTT A
DALLAS-FORT WORTH INTERNATIONAL AIRPORT
CONCURRENT REPLACEMENT BOND ORDINANCE
(SERIES 1978, BOND NO. 5649)
CITY OF DALLAS ORDINANCE NO.
CITY OF FORT WORTH ORDINANCE NO.
An ordinance passed concurrently by the City Councils, respectively, of the Cities of Dallas and Fort
Worth, authorizing the issuance of one (1) $5,000.00 replacement bond to replace Bond Number 5649 of
Dallas-Fort Worth Regional Airport Joint Revenue Bonds, Series 1978 and resolving other matters related
thereto.
WHEREAS, the Cities of Fort Worth and Dallas by ordinance passed concurrently on Apri14,1978 and
April 5, 1978, respectively, authorized the issuance of and sold their Dallas -Fort Worth Regional Airport
Joint Revenue Bonds, Series 1978, in the aggregate principal amount of $30,000,000, dated April 1,1978; and
WHEREAS, one bond of the above described Series of bonds, to-wit:
Bond Number 5649 in the denomination of $5,000.00, and bearing interest at the rate of 6.10% per
annum, payable semiannually on each May 1 and November 1 (Interest Coupon No. 21 and
subsequent coupons appertaining thereto unpaid), and maturing November 1, 2007 (the "Bond")
is outstanding and unpaid; and
WHEREAS, a notarized affidavit by David T Young of Prudential-Bache Securities, Inc. (the "Owner"),
to the effect that it was discovered that the Bond with attached coupons was missing and presumably lost from
the premises of the Owner and could not be found after a diligent search thereof, 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
WHEREAS, at the time the loss occurred, Coupon Number 21, coming due on November 1, 1988 and
subsequent coupons were attached to said Bond, and therefore neither said coupon nor any subsequent
coupons have been presented for payment; and
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WHEREAS, the Owner of said Bond and lost coupons desires that a replacement bond be issued to
replace the aforesaid lost, mutilated or damaged Bond and lost coupons; and
WHEREAS, by Acts 1965 of the 59th Legislature of the Siate 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 lost securities indemnity bond No. PB92100-8-89-3NY dated November
9, 1990, and executed by an authorized representative of the Federal 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
indemnity bond No. PB92100-8-89-3NY is attached hereto as a permanent part hereof.
NOW, THEREFORE, BE IT 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 bond to replace the Bond and
attached lost coupons. Said replacement bond and the interest coupons appertaining thereto shall be in the
same form and in all respects of like tenor and effect as the Bond, and the interest coupons appertaining
thereto, except that such replacement bond and the interest coupons appertaining thereto shall be signed
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, 1988.
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Section 2. That said replacement bond shall be dated April 1, 1478, which is the date of the Bond.
Section 3. That said replacement bond 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 bond 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 bond to the Attorney
General of Texas for examination and approval. After approval by the Attorney General of Texas, said
replacement bond shall be delivered to the Comptroller of Public Accounts of the State of Texas for
registration. The replacement bond 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 Bond being replaced thereby
Section 5. That the Comptroller of Public Accounts of the State of Texas is hereby authorized and
directed to register the replacement bond in the same manner as the original Bond was registered, giving it
the same registration number as the original Bond 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
bond.
Section 6. That all provisions of the ordinance passed by the City Councils of Dallas and Fort Worth
on April 5, 1978 and Apri14, 1978, respectively, authorizing the series of bonds of which the Bond 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,
or the Dallas -Fort Worth International Airport and shall be borne entirely by and be the sole liability of the
Owner of the lost Bond which has requested the issuance of replacement securities as provided herein.
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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.
Mayo
City f Fort Worth, Texas
ATTEST:
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t City Secretary,
City of Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
City Attorney 1 - t 2 -`q
City of Fort Worth, Texas
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CITY S~C~~~ARY
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SUBJECT CONCURRENT ORDINANCE OF THE CITIES OF FORT WORTH AND DALLAS AUTHORIZING THE
ISSUANCE OF A $5,000.00 REPLACEMENT BOND AND INTEREST COUPONS TO REPLACE A
LOST DALLAS-FORT WORTH REGIONAL AIRPORT JOINT REVENUE BOND SERIES 1978
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached concurrent ordinance authorizing the issuance of a replacement
Dallas-Fort Worth International Airport Joint Revenue Bond and coupons.
DISCUSSION:
The Cities of Dallas and Fort Worth, by ordinance passed concurrently on April 4, 1978,
and April 5, 1978, authorized the issuance of and sold their Dallas-Fort Worth Regional
Airport JointRevenue Bonds, Series 1978, in the aggregate principal amount of
$30,000,000.00, dated April 1, 1978. The following bend of the above-described series
of bonds is outstanding and unpaid.
Bond No. 5649 in the denomination of $5,000.00 and bearing interest at the
rate of b.10 percent per annum, payable semi-annually on each May 1 and
November 1 (Interest Coupon No. 21 and subsequent coupons appertaining
thereto unpaid), and maturing November 1, 2007 (the "Lost Bond and
Coupons").
An affidavit in due form verified by David T. Young on behalf of Prudential-Bache
Securities, Inc., the owner of the bond,, stating that about July 27, 1989, it was
discovered that the bond with attached coupons had been lost and could not be found
after a diligent search, 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. 21, coming due on November 1, 1988, and subsequent coupons were
attached to the bond and, therefore, neither said coupon nor any subsequent coupons
have :been presented for payment. Prudential-Bache Securities, Inc., as principal, and
Federal 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.
The Dallas-Fort Worth International Airport Board, by resolution adopted 'on June 22,
1992, requested and recommended that the City Councils of the Cities of Dallas and Fort
Worth pass an ordinance to authorize the issuance of a rePlaceme ~.B~ and coin ns.
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City of Fort Worth, Texas
Mayor and Council ~;ommunication
DATE REFERENCE NUMBER
5
** LOG NAME PAGE
01/12/93 G-999 1260NDOR 2 of 2
SUBJECT CONCURRENT ORDINANCE OF THE CITIES OF FORT WORTH AND DALLAS AUTHORIZING THE
ISSUANCE OF A $5,000.00 REPLACEMENT BOND AND INTEREST COUPONS TO REPLACE A
LOST DALLAS-FORT WORTH REGIONAL AIRPORT JOINT REVENUE BOND SERIES 1978
The owner of the Lost Bond and Coupons has agreed that the adoption of the attached
ordinance and the performance 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 Prudential-Bache Securities,
Inc.
It is the opinion of the Department of Law that all required conditions for adoption
of the attached ordinance have been satisfied and that 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:
This Council action does not require the expenditure of City funds.
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Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by _
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Ramon Guajardo 6143 APPRC}~EQ
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