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HomeMy WebLinkAboutOrdinance 11391ORDINANCE NO I/ AUTHORIZING THE ISSUANCE OF A REPLACEMENT BOND FOR FORT WORTH WATER AND SEWER REVENUE BONDS SERIES 111 BOND NUMBER 1207 WITH COUPONS ATTACHED, AND OTHER MATTERS RELATED THERETO THE STATE OF TEXAS § COUNTIES OF TARRANT AND DENTON § CITY OF FORT WORTH § WHEREAS, the City Council of the City of Fort Worth (the "Council"), by order passed July 1, 1979 (the "1979 Ordinance"), provided for the issuance of its Fort Worth Water and Sewer Revenue Bonds, Series 111 in the aggregate principal amount of $6,500,000 dated July 1, 1979; and WHEREAS, one (1) bond of the above described series of bonds (the "Bond"), to- wit: Bond Number 1207, in the denomination of $5,000, bearing interest at a rate of 5.0% per annum, payable semiannually on each March 1 and September 1 (Interest Coupon No. 27 and subsequent coupons appertaining thereto unpaid), and maturing March 1, 2004, is outstanding and unpaid, and WHEREAS, a notarized affidavit of Dean Witter Reynolds, Inc., the owner of the Bond, to the effect that the Bond was lost, is on file in the offices of the City of Fort Worth (the "City") and such statement has been accepted by the Council as sufficient evidence that the Bond has been lost, within the meaning of Texas Revised Civil Statutes Annotated Article 715a (Vernon Supp. 1992), and a certified copy of such statement is attached hereto as a permanent part hereof; and WHEREAS, at the time of its loss, the Bond had Coupon No. 27, coming due on March 1, 1993, and subsequent coupons attached, and none of said coupons have been presented for payment; and WHEREAS, the owner of the Bond desires that a replacement bond be issued to replace the aforesaid lost Bond and appurtenant coupons; and WHEREAS, by Acts 1965 of the 59th Legislature of the State of Texas, Chapter 334, as amended, commonly known as Article 715a of the Texas Revised Civil Statutes Annotated, the Council is authorized to issue, without an election, a bond to replace any bond theretofore lawfully issued which is outstanding and which has been destroyed, lost or stolen, provided that such replacement bond may be issued only upon indemnification satisfactory to the Council establishing proof of ownership and the circumstances of the loss, theft or destruction of the bond for which the replacement bond is being sought; and WHEREAS, a Bond of Indemnity, Number 524963-37923, dated May 19, 1993, executed by an authorized representative of Seaboard Surety Company, as Obligor, has been received and is on file in the offices of the City, and such Bond of Indemnity is acceptable to the Council as sufficient indemnity under the provisions of -Article 715a of the Texas Revised Civil Statutes Annotated, and a certified copy of such Bond of Indemnity is attached hereto as a permanent part hereof. THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH: Section 1. That there is hereby authorized to be issued one (1) replacement bond to replace the Bond. 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 interest coupons appertaining thereto, as set forth in the 1979 Ordinance, 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. Section 2. That said replacement bond shall be dated July 1, 1979, 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 Mayor of the Council or some other officer, employee or attorney of the City acting through authority from him, to deliver the replacement bond to the Attorney General of the State of Texas for examination and approval. After approval by the Attorney General of the State of Texas, the 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 the custody of the Mayor of the Council, 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 Bond was registered, giving it the same registration number as the 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 1979 Ordinance providing for the issuance of the series of bonds of which the Bond was a part and which are not in conflict with this order are hereby adopted by reference and shall be a part of this order. -2- Section 7 That the preparation and passage of this order by the Council 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 and shall be borne entirely by, and be the sole liability of, the owner of the lost Bond who has requested the issuance of a replacement bond as provided herein. , . ~' ADOPTED this day of ' ' ~ ~' -: - , 1993. Mayor ATTEST• /.~~:~ ~~ City Secretary APPROVED AS TO FORM AND LEGALITY. City Attorney (SEAL) ~~-- ..~ ~^~ ~ ~~ ~' `,z ,,, ~ ~, ~- ,. -~ r,,, "~ ~ j .~---, ,,, --~ = - ~ ~ e `~~ ~ ._. h r ~ h ~~ 'r ~^4. ,~ -~,,....~ ~ ,.. -3- rf ; .~ .~ ~ ,~.. .~ Section 7 That the preparation and passage of this order by the Council 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 and shall be borne entirely by, and be the sole liability of, the owner of the lost Bond who has requested the issuance of a replacement bond as provided herein. ADOPTED this~~ ay of i _, 1993. Mayor ~ ATTEST. ~~~LGC~ City Secretary APPROVED AS TO FORM AND LEGALITY: d~-~,0,,~.- City Attorney (SEAL) iY * k ~~f"4 Vii' ,f,~ ~e `i' ~~ ti. ~ ~ _ ~` ~ ~* ~. .-~a " ~ ~ 1 `~~ r `~: \., .!:J ~~ ~"~1 ~`