Min 07/07/1930892
Wichita Falls, Texas
Memorial Auditorium
Building
July 7th, 1930
The Board of Aldermen of the City of Wichita Falls met in
regular session on the above date with the following members present:
Walter Nelson, Jr., Mayor
J. M. Spoonts,
C. E. McCutchen, X
J. N. Prothro, Z Aldermen
R. 0. Harvey, X
E. H. Eddleman, X
G. D. Fairtrace, City Manager
b1. E. McBroom, City Clerk
Thelbert Martin, City Attorney
The Minutes of the previous meeting were read and approved.
Pvioved by Alderman eCutchen that the claim of G. D. Ireland
for alleged water damage to his property at 2105 Broad `'treet in the
amount of $750.00 be received and held under advisement.
Motion seconded by Alderman Harvey and carried.
Moved by Alderman McCutchen that the City Manager be
authorized to sign the following contract by and between the City of
' ichita Falls and C. Edgar Honnold of Oklahoma City accepting the
proposition of Mr. Honnold with reference to refunding of ? aterworks
Bonds dated February loth, 1920, in the amount of $640,000.
Motion seconded by Alderman Eddleman and carried.
Wichita Falls, Texas
July 7th, 1930
To the 1<?ayor and Board of Aldermen
City of 'riichita Falls, Texas
Gentlemen:
For your issue of City of Wichita Falls, Texas, Refunding
Waterworks Series lA and 1B Series of 1930, in the amount of $640,000
bearing interest at the rates of (1st $320,000 earl? maturities at
4 , interest and last ,Z20,000 of last maturities 4-j interest payable
semi-annual on August loth and February loth of each year. Bonds to
mature 021,000.00 one year from their date and 1;a21,000.00 each year
to 30 years, incl., except the last five maturities of each issue
shall be $22,000.00 each, we submit the following proposition:
';.e will take up and pay for the $640,000 5% Bonds on their
call date August loth in New York at Par. It is understood and agreed
said refunding bonds are to be delivered to us within a reasonable
length of time, not to exceed ninety days from call date, or later if
mutually agreed.
! J
You are to instruct the Comptroller at Austin to deliver us
bonds of the new issue, bond fbr bond, maturities delivered to be agreed
upon by the undersigned parties, as old bonds are surrendered by us.
In connection with the above proposition we will furnish all
the proceedings had in connection with the issuance of these bonds and
attorneys opinion and printed bonds and exchange same for which services
you are to allow us fee of $5,000.00, sane to be paid when bonds are
exchanged. This proposition is made subject to the legality of said
bonds being approved by our Attorney John D. McCall of Dallas, Texas, and
some other reputable market bond attorney.
As evidence of our good faith in complying with the terms of
this proposal, we attach hereto Cashier's check for $10,000 on the First
National Bank and Trust Company of Oklahoma City, Oklahoma, which check
is to be held by you pending delivery of the bonds to us in accordance
herewith, to be forfeited as full liquidated damages in the event of our
failure or refusal to comply with the terms herewith. �':e also agree to
leave as good faith our $5,000 fee until consumation of our part of this
contract.
Respectfully submitted,
C. EDGAR HONNOLD,
Oklahoma City, Oklahoma.
By (Signed) John T. Barry.
Moved by Alderman McCutchen that the following resolution be
adopted.
Motion seconded by Alderman Eddleman and carried by the follow-
ing vote:
Yeas: Aldermen YcCutchen, Eddleman, Prothro, Harvey and Spoonts
Nays: None.
RESOLUTION
A RESOLUTION AUTHORIZING AND DIRECTIIZ THE CITY TREASURER AND
CITY CLERK TO GIVE WRITTEN NOTICE OF CALLITU FOR REDEMPTION WATERWORKS
BONDS DATED FEBRUARY LOTH, 1920, DUE FEBRUARY LOTH, 1960, AND OITIONAL
FROM AND AFTER FEBRUARY LOTH, 1930.
WHEREAS, the City of Wichita Falls has heretofore issued City
of Wichita Falls Waterworks Bonds dated February loth, 1920, bearing 5%
interest, maturing February loth, 1960, in the total sum of $800,000.00
in the denomination of $1,000.00 each, numbered 1 to 800, principal and
interest being payable at the office of the City Treasurer or at Hanover
National Bank, City of New York, N. Y., (now Central Hanover Bank and
Trust Company) at the option of the holder; and
WHEREAS, the City has heretofore redeemed $160,000.00 of said
bonds, leaving outstanding $640,000.00 of said bonds; and
WHEREAS, the out st andi ng bonds of said issue are numbered as
follows, to -wit:
109 to 113, inclusive
142 to 253
"
256 to
278
"
294 to
607
"
609 to
667
"
670 to
681
"
684 to
763
"
765 to
799
"
and
WHEREAS, each of said bonds contains the following provision in
reference to the calling thereof for redemption:
"The City of Wichita Falls hereby reserves the
right to redeem this bond before maturity at
any time after February loth, 1930, by paying
principal and accrued interest, and in case
this bond shall be called for redemption before
maturity, notice thereof shall be given by
publication in a newspaper published in Tichita
Falls, once a week for three successive weeks,
the first publication to be at least thirty
days before the date fixed for the redemption,
and should this bond not be presented for re-
demption the same shall cease to bear interest
from and after the date so fixed.";
and
WHEREAS, it is deemed to be to the best interest of the
City to exercise the option to redeem all of said outstanding bonds
above described by number; THEREFORE,
BE IT RESOLVED BY THE BOARD OF AIDERMIN OF THE CITY OF
WICHITA FALLS, TEXAS.
SECTION 1. The City Treasurer and the City Clerk of the
City of i'ichita Falls, Texas, are hereby authorized, ordered and
directed to jointly issue and execute proper notice in writing in
conformity with the proceedings authorizing the issuance of -'ater-
works Bonds issued pursuant to an election duly called and held in
said City and Ordinance No. 278 adopted by the Board of Aldermen on
February 12th, 1920, to the effect that the City of Wichita Falls has
called in for redemption outstanding Bonds Nos. 109 to 113, inclusive,
142 to 253, inclusive, 256 to 278, inclusive, 294 to 607, inclusive,
609 to 667, inclusive, 670 to 681, inclusive, 684 to 763, inclusive,
765 to 799, inclusive, aggregating the sum of $640,000, which out-
standing bonds are hereinabove described and which said notice shall
be substantially as follows:
CITY OF WICHITA FAILS, TEXAS
July 7th, 1930
To holders of City of '::ichita Falls aterworks Bonds, dated
February loth, 1920.
NOTICE IS HEREBY GIVEN THAT the City of Wichita Falls,
Texas, by resolution duly adopted by its Board of Aldermen on the 7th
day of July, 1930, of record in rook P'o. 11 of the Yinutes of said
Board, has called in for redemption the following series of bonds:
City of Wichita Falls ',,aterworks ?'onds dated February loth,
1920, Nos. 109 to 113, inclusive, 142 to 253, inclusive, 256 to 278,
inclusive, 294 to 607, inclusive, 609 to 667, inclusive, 670 to 681,
Inclusive, 684 to 763, inclusive, 765 to 799, inclusive, in the
denomination of $1,000.00 each, aggregating 7640,000.
THAT THE DATE fixed in said resolution for redeeming said
bonds is the loth day of August, 1930, and you are hereby notified
that in the event said bonds, or any of them, are not presented for
redemption at the Central Hanover Bank and Trust Company, successors
to the Hanover National Bank, in New York City, N. Y., they shall
cease to bear interest from and after the date so fixed fcr their
redemption.
805
THIS NOTICE is issued and given pursuant to the aforesaid
resolution of the Board of Aldermen, and in accordance with recitals
and provisions in each bond of the series of bonds hereinabove described.
IN FITNESS WHEREOF, we have signed our names hereto officially _
on this the 7th day of July, 1930, and affixed hereto the corporate seal
of the City of 5 ichita Falls, Texas.
(Signed) W. S. Abbott, City
Treasurer, City of Wichita Falls,
Texas.
(Signed) 71. E. McBroom, City Clerk
City of F;ichita Falls, Texas.
PASSED AND APPROVED this the 7th day of July, 1930.
Moved by Alderman Spoonts that the meeting be adjourned.
11ot i on seconded by Alderman Prothro and carried.
The Board of Aldermen then adjourned.
REAL �.ND APPROVED this the 16th d of Jul 1930.
Mayor