Min 10/21/1920 CITY HALL,
City of Wichita Falls, Texas.
Thursday, October 21st, 1920.
The Board of Aldermen of the City of Wichita Falls.Texas
met in regular session, in the Ciyy Hall in said City, on this the 21st
day of October, A. D. 1920.
PRESENT:
W. D. Cline, Mayor,
W. S. Curlee, (
R. E. Shepherd )
Wm. N. Bonner ( ALDERMEN.
M. 0. McDowell, )
W. G. Bralley,
and Geo. W. Thorburn, City Clerk.
There was presented to the Board of Aldermen by the Mayor
for its consideration and passage, an ordinance No. 321 entitled "An
ORDINANCE AUTHORIZING THE ISSUANCE OF THE BONDS OF THE CITY OF WICHITA
FALLS, TEXAS. IN THE AMOUNT OF SEVEN HUNDRED THOUSAND ($700,000.00)
DOLLARS, MATURING THIRTY YEARS _ROM THEIR DATE,WIT H OPTION OF REDEMPTION
AT ANY INT.RREST PAYING PERIOD AFTER FIVE YEARS FROM THEIR DATE,BEARING
INTEREST AT TEE RATE OF SIX PER CENTUM (6%) PER ANNUM, PAYABLE SEMI-
r
ANNMALLY ON MAY 1ST AND NOVEMBER 1ST ON EACH YEAR FOR THE PURPOSE GP CON*
STRUCTING A COMPLETE SANITARY SEWER SYSTEM IN AND FOR SAID CITY, AND LEV-
I YING A TAX ON EACH ONE HUNDRED DOLLARS' VALUATION OF TAXABLE PROPERTY
IN SAID CITY SUFFICIENT TO PAY 'OHE INTEREST ON SAID BONDS AND TO CREATE
A SINKING FUND SUFFICIENT TO REDEEM THEM AT MATURITY: AND DECLARING AN
EMERGEDICY.
Moved by Alderman Curlee seconded by Alderman Bonner,that
the ordinance be read in full. Motion carried and the ordinance was read
in full by the City Clerk. Moved by Alderman Curlee, Seconded by Alderman
Bonner, that the ordinance pass its first reading.
Ayes: Aldermen W. S. Caries, W. N. Bonner, W. G. BRAlley,
M. 0. MoDowell, R. E. Shepherd.
Nays: None.
Moved by Alderman Curies seconded by Alderman Bonner, that
the role requiring ordinances to be passed on three separate days, be sus-
pended and that the ordinance be put upon final passage.
Ayes: Cline, Mayor, and Aldermen Curlee, loner, McDowell
Bralley and R. E. Shepherd.
Nays: None.
Moved by Alderman Curlee, seconded by Alderman Bonner that
the ordinance pass its second reading by caption.
Ayes: Aldermen Curlee, Bonner, McDowell, Bralley, and
Shepherd.
43 Nays: None.
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Moved by Alderman Curlee, seconded by Alderman Bonner,
that the ordinance pass its second reading by caption.
Ayes: Aldermen Crrlee, Bonner, McDowell, Bralley, and
Shepherd.
Nays: None.
Moved by Alderman Curiae, seconded by Alderman Bonner,
that the ordinance be read third time in full.
Ayes: Aldermen Curlee, Bonner, McDowell, Bralley, and
Shepherd.
Nays: None.
Moved by Alderman Curlee, seconded by Alderman Bonner,
that the ordinance be finally passed.
Ayes: Alderman Curies, Bonner, McDowell, Bralley, and
Shepherd.
Nays: None.
1
The ordinance follows: V
"AN ORDINANCE
AUTHORI:ING THE ISSUANCE OF THE BONDS OF THE CITY OF
WICHITA FALLS, TEXAS, IN THE AMOUNT OF SEVEN HUNDRED
THOUSAND ($700,000.00) DOLLARS, MATURING THIRTY YEARS FROM
THEIR DATE, WITH OPTION OF REDEMPTION AT ANY INTEREST PAY-
ING PERIOD AFTs FIVE YEARS FROM THEIR DATE, BEARING
INTEREST AT THE BATE OF SIX PE3 CENTeM (6%) PER ANNUM
PAYABLE SEMT-ANNUALLY ON MAY 1st AND NOV! ER let OF
EACH YEAR, FOR THE PURPOSE OF CONSTRUCTING A COMPLETE
SANITARY SEWER SYSTEM IN ND FOR SAID CITY, AND LEVYING
A TAX ON EACH ONE HJND_:E ()LIARS' VALUATION OF TAXABLE
PROPERTY IN SAID CITY SUF ICIE1T TO PAY THE INTEREST
ON SAID BONDS AND TO CREATE A SINKING FUND SUFFICIENT
TO REDE.`M THEM AT MATURITY: AND OECLAring AN EMERGENCY".
WHE: AS, on the Ilth day of September, A. D. 1920, the
Board of Aldermen of the City of Wichita Falls, Texas, by an ordinance duly
and legally passed ordered that an election be held within the limits of said ,,
City on the 12th day of October, 1920, for the purpose of determining whether Ar
.
the Board of Aldermen of the City of Wichita Falls. shall be authorized to issue
the bonds of said City in the amount of Seven Hundred Thousand, ($700,000,00) d „.
Dollars, for the purpose of constructing a complete sanitary sewer system in
and for said City; in the amount of Two Hundred Sixty Thousand ($260,000.00)
Dollars forthe purpose of constructing storm sewers; in the amount of Three
Hundred Forty Thousand ($340,000.00) Dollars, for the purpose of constructing
permanent street improvements;. in the amount of Two Hundred Thousand (0200.000
t1W irpollars,for the purpose of constructing improvements and extensions to
the present water works system; in the amount of Twenty Five Thousand ($25,000.
00) Dollars, for the purpose of constructing a public building, towit, an` in-
cinerator; in the amount of Seventy Five Thousand ($75,000.00) Dollars, for
the purpose of constructing public buildings, to-wit, the construction of
additions to and rppatrs of City Hospital; in the amount of Twenty Five Thous-
and ($25,000.00) Dollars, for the purpose of acquiring public parks, play
grounds and cemeteries, all of said bonds to mature serialize, or otherwise,
within the discretion of the Board of Aldermen, not to exceed forty years,
from their date, and to bear interest at the rate of six per centum (6%) per
annum, payable semi-annually, and whether said Board of Aldermen shall be
authorized to levy a tax on each Ofie Hundred Dollars' valuation of taxable
property in said City to pay the annual interest and provide a sinking fund fer
each of said series of bonds sufficient to redeem them at maturity, notice of
which electi.nn was duly and legally given in accordance with the laws of the
State of Texas and- the City Charter of the City of Wichita Falls, Texas;and
WHE.iEAS, said election was duly and legally held on the
said 12th day of October, 1920, and the result of said election was duly cer-
tified and returned to this Board b/ the Judges and Clerks thereof. and on
the 14th day of October, 1920, the Board of Aldermen of the City of Wichita
Falls, by order duly passed, considered said returns and canvassed the same
and found that there were cast at said election 390 votes, of which number
372 votes were cast "for the issuance of bonds in the amount of Seven Hundred
Thousand ($700,000.00) Dollars, maturing serially, or otherwise, at such times
as may be fixed by the Board of Aldermen, not to exceed forty years from their
date, bearing interest at the rate of six per centum (6%) per annum, payable
semi-annuallyr for the purpose of constructing a complete sanitary sewer system
and for the levy of a tax on each One Hundred Dollars' valuation of taxable
property in said City sufficent to pay the interest on said bonds and create
a sinking fund to redeem them at maturity", and 18 votes were oast "against
the issuance of bonds in the amount of Seven Hundred Thousand ($700,000.00)
Dollars, maturing serially or Otherwise, at such times as may be fixed by the
Board of Aldermen, not to exceed forty years from their date, bearing interest
at the rate of six per cent um (6%) per annum, payable semi-annually, for the
ee 44 purpose of constructing a complete sanitary sewer system, and against the levy
.,/,/r
of a tax on each One Hundred Dollars' valuation of taxable prop_rty in said CITY
sufficient to pay the interest on said bonds and create a sinking fund to redeem
them at maturity", and the Board of Aldermen thereupon declared that the s prop-
osition so submitted was sustained and adopted by a majority vote of the quill
ified property taxpayers voting at said election; and
WHELiEkS, this Board has examined into and investigated tie
regularity of the proceedings for said election, and declare same to have been
legally called and held and that the notice required by law to be given has
been duly and legally given, and that said election was conducted in strict
conformity with the requirements of law; and
WHEREAS, of the propositions submitted at said election
and the bonds voted thereat, it is the purpose of this Board, in this ordinane e
to only authorize the issuance of Seven Hundred Thousand (0700,000.00) Dollars
of sanitary sewer bonds, maturing thirty years from their date, with option of
redemption at any interest paying period after five years from their date, bear-
ing interest at the rate of six per centum (6%) per annum, payable semi-annually
and to levy atax to pay the interest on said bonds and provide a sinking fund
to pay them at maturity.
THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE
CITY OF WICHITA FALLS, TEXAS:
(1) That the bonds of said City, to be denominated "CITY
OF WICHITA FALLS SANITARY SEWER BONDS", be issued for the purpose of constructing
a complete sanitary sewer system in and for said City under and by virtue of
Title 22, of the REvised Civil Statutes of the State of Texas, and particularly
Chapter 17 of said Title, "Vernon's Complete Texas STatutes, 1920", and the
City Charter of the City of Wichita Falls, adopted by a majority vote of the
qualified voters in said City at an election held for that purpose on the 12t
day of October 1920.
(2) Said bonds shall be numbered from one (1) to Seven
Hundred (700) inclusive, shall be in the denomination of One Thousand (41,000.
00) Dollars each; shall be dated November 1st, 1920, and shall mature thirty
years from their date, but the City of Wichita Falls reserves the right to
redeem any or all of said bonds at any interest paying period after five years
from their date by paying principal and accrued interest, and said bonds shall
in their face, reserve to the City of Wichita Falls such option.
(3) Said bonds shall bear interest at the rate of six per
eentum (6%) per annum, payable semi-annually on the let day of May and Novem-
ber of each year.
(4) Principal and interest shall be payable on presentation
and surrender of bonds of bonds or proper coupons at the National Bank of Com-
merce New York, N. Y.
(5) Said bonds shall be signed by the Mayor, countersigned
by the City Clerk, registered by the City Treasurer, and the corporate seal of
said City shall be impressed upon each of them; the fac-simile signatures cf
the Mayor and City Clerk may be lithographed upon the coupon attached to each
rr of said bonds.
(6) Said bonds shall be in form and shall contain recitals
substantdblly as follows:
NO. 01,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF WICHITA FALLS.
CITY OF WICHITA FALLS SANITARY SEWER BOND.
THE CITY OF WICHITA FALLS, a municipal corporation duly
incorporated under and by virtue of the laws of the State of Thras,for value
received, is indebted and hereby promises to pay to bearerm oh the let day
of November, A. D. 1950, at the National Bank, of Commerce acf New York, N. Y.
the sum of
ONE THOUSAND DOLLArs.
in lawful money of the United States of America, with interest thereon at the
rate of six per centum (6%) per annum, payable semi-annually on the 1st day of
May and November each year principal and interest payable at the Bank above .
named; and the full faith and credit of the City of Wichita Falls and all of
the resources of said City are hereby pled ged for the prompt payment of the I
principal of this bond and the interest thereon at maturity.
THE CITY OF WICHITA FALLS reserves the right of redeeming
this bond at any interest paying period after five years from the date hereof
by paying principal and accrued interest and in event the same shall be called
in for redemption before maturity, notice thereof, in writing, shall be given
45 +fixIkef 1118Teli 1preof by the City Treasurer at least thirty days before the date
rand should this bond not be presented for redemption the
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same shall cease to bear interest from and after the date so fixed for redemp-
tion.
THIS BOND is one of a series of seven hundred bonds of like
date and tenor, issued for the purpose of constructing a complete sanitary sewer
system in and for the City of Wichita Falls, Texas, under and by virtue of the
Constitution and of Title 22 of the Revised Civil Statutes of Texas, and particu&
larly Chapter 17, of said Title, "Vernon's Complete Texas Statutes, 1920", and
the City Charter of the City of Wichita Falls, and pursuant to an ordinance duly
and legally passed by the Board of Aldermen of said City at a regular meeting of
said Board held on October 21st, 1920, which is of record in Book No.6, at pages
43 to 48 et seq., of the Minutes of said Board.
THE DATE of this bond, in accordance with the ordinance
above mentioned, is November 1st, 1920.
AND IT IS HEREBY CERTIFIED AND DECLAred that provision has
been made, as required bythe Constitution and laws of the State of Texas, for
the levy and collection of an annual tax s _fficient to pay the interest on said
bonds as the same shall becsme due, and to pay the principal sum at maturity;
that said bonds have been authorized by a majority vote of the qualified prop-
erty tax paying voters voting at an election held for thatppurpose on the 12th
day of October, 1920, and that all acts, conditions and things required to be
done precedent to and in the issuance of this bond, hate been properly done
have happened and been performed in regular and due time as required by the Con-
stitution and laws of the State of Texas and the City Charter of the City of
Wichita Falls, and that the total indebtedness of said City, including this bond
does not exceed any constitutional or statutory limitation.
IN WITNESS WHEREOF, the City of Wichita Falls, by its Board
of Aldermen, has caused this bond to be signed by its Mayor countersigned by
the City Clerk, registered by the City Treasurer, and the corporate seal of
said City to be impressed hereon, as of the date Aidiaabove mentioned.
)Mayor, City of Wichita Falls, Texas.
Countersigned:
City Clerk, City of-Wichita Falls, Texas.
REGISTERED.
City Treasurer, City of Wichita Falls, Texas.
The interest coupons attached to each of said bonds shall
be in substantially the following form:
NO. $30.00
ON THE 1ST DAY OF
MAY, 1921.
the City Treasurer of the City of Wichita Falls, Texas, will pay to bearer, at
the National Bank of Commerce, New York, N. Y. Thirty ($30.00) Dollars, being
six months' interest on City of Wichita Falls Sanitary Sewer Bond No.
dated November let, 1920.
Ulna
City Clerk.
(7) On the back of each of said bonds shall be printed
the following certificate:
OFFICE OF THE COMPTROLLER CF PUBLIC ACCOUNTS
OF THE STATE OF TEXAS.
REGISTER NO.
I , EBY CERTIFY that there is on file and of record in
my office a certificate of the Attorney General of the State of Texas to the
46
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fre., :i.1 x 00Y47
effect that this bond has been examined by him as required by Article 632,
Vernon's Sayles' Revised Civil Statutes of the State of Texas, and that it
has been issued in conformity with the Constitution and laws of the State of
Texas and that it is a valid and binding obligation upon the City of Wichita
Falls, Texas, and said bond has this day been regiateered by me.
WWTNESs EX HAND and seal of Office, at Austin, Texas,
this the day of ,1920.
Comptroller aE Public Acoeunts of the
State of Texas.
(8) BE IT FURTHER ORDAINED BY THE BOArd OF ALDERMEN OF THE
CITY OF WICHITA FALLS, that to pay the interest on said bonds as the same shall
accrue and to crest e a sinking fund sufficient to discharge the principal thereof
at maturity, there shall be annually levied, and there is hereby levied for the
year 1920, atax of 20.6752 cents on the One Hundred Dollars' valuation of tax-
abl property in said City; that for the year 1921, and each succeeding year
while any of said bonds are outstanding and uppaid, there shall be computed and
ascertained what nate of tax, based upon the latest approved tax rolls of said
City, will be required to fully make, raise and produce in each of said years
a sum of money necessary to pay all interest scorning and becoming due in said
year and to provide a sinking fund equal to one-thirtieth of the principal of
said bonds, and a tax at such rate as shall be found necessary,(said tax in any
year, however, not to be less than the tax of 20.6752 cents as aforesaid) shall
be levied, assessed and collected in each of said years, and at the time other
City taxes are levied, assessed and collected, and the proceeds from said taxes
shall be applied to the purposes named.
(9) The fact that there is an urgent public need for the con-
struction of sanitary sewers in said Ci y for the preservation of the health of
the Community, creates an emergency and public necessity that the rule requir-
ing ordinances to be read on three separate days be suspended, and said role is
hereby suspended, and this ordinance shall take effect and be inforce from and
after its passage, and it is so ordained.
112.1%
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v" 4 .
Moved by Alderman Bonner that the Wichita Falls, Electric
Co., be ordered to extend ervice to the ten houses on Street
situated from centre of 6th and 6th Stre to to centre of 6th and 7th Streets,
as soon as the houses were wired and ready to receive service, which motion
was seconded by Alderman McDowell and carried.
Moved by Alderman McDowell that the City purchase, for lo-
cation of New Fire Station, Lot E . Block 91, Floral Heights for the cons-
ideration of Three Thousand ($3.000.00) Dollars, on terms of One Thousand
($ 00.00) DollarDollars , two no ned by City and proceeds of sale of Lots
!!�� Blk. amounting to Fifteen Hundred
(..,40 .0 D rs and the assume ion o a note for Five Hundred ($500.00)
Dollars now against the property, which motion was seconded by Alderman Shepherd
and carried.
Moved by Alderman Shepherd that M. 0. McDowell be authorized
to order a house built for the Cemetery Keeper witch motion was seconded by
Alderman Curlee and carried.
The Following City of Wichita Falls Bonds were then offered `
for sale.
260,000.00 Storm Sewer Bonds
340,000.00 Street Improvement Bonds.
200.000.00 Water Bends.
25,000.00 Park Bonds.
25,000.00 Incinerator Bonds.
W5,000.00 Hospital Bonds
and the following bids received
(1) Theis and Diestelkamp- agreed to find a buyer for all
the Bonds at par and accrued intereat,for 30 years at six per cent bonds option
of redemption 5 years dated Nov. 1st, 1920 provided the Citysbould pay them the
sum of $27750.00 as commission;the commission to include the cost of printing
attorney fees, and all other expenses; Wood & Oakley of Chicago Ili. to pass
on the legality of the issue; and a forfeit of $25,000.00 in cash to be placed
in the City natl. Bank of Commerce of this City by them, at once, as evidence
of good faith.
(2) The Hanchatt Bond Co of Chicago Ill made a mid of
97-5/8 nett for the two hundred thousand Dollars Six per cent, 30 year option
of 5 years- Bonds.
(3) Thornton Bowman made a bid of 97 nett for all the bonds
r 47 provided they were thirty year 6% Bonds with ten year option of redemption.
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(4)Kaufman-Smith-EGieitt of St Louis, made a bid on all the
Bonds provided they were thirty year six per cent, 5 year option, of 98 nett
provided.tbat the money received for the Bonds should be placed on deposit at the
City Natl Bank of Commerce and First National Bank of this City at a rate of
interest not exceeding three per cent until all the money was used and also
made a bid of 97 nett with no provision of deposit for same kind of bonds.
It was then mobed 'by Alderman McDowell, that the Mayon be
authorized to sign a Contract with Theis & Diestelkamp for the $925,000.00
Bonds on the terms of the bid made by them.
which motion was seconded by alderman Shepherd and carried.
The Board of Aldermen then recessed until 1:30 P. M. Friday
22nd, October 1920.
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