Ord 063-92 8/5/1992 � � r
CERTIFICATE FOR ORDINANCE
THE STATE OF TEXAS •
COUNTY OF WICHITA •
CITY OF WICHITA FALLS •
We, the undersigned officers of the City Council of said City, hereby certify
as follows:
1. The City Council of said City convened in SPECIAL MEETING ON
THE 5TH DAY OF AUGUST, 1992, at the regular designated meeting place,
and the roll was called of the duly constituted officers and members of said City
Council, to-wit:
Michael Lam, Mayor David Farabee
Paul Hughes, Mayor Pro-Tem Harold Hawkins
Wilma J. Thomas, City Clerk J. W. Martin
Angus Thompson Terry Loughry
and all of said persons were present, except the following absentees: None, thus
constituting a quorum. Whereupon, among other business the following was
transacted at said Meeting: a written
ORDINANCE AUTHORIZING THE ISSUANCE OF
CITY OF WICHITA FALLS, TEXAS
CERTIFICATES OF OBLIGATION
SERIES 1992
$4,000,000
was duly introduced for the consideration of said City Council and read in full. It
was then duly moved and seconded that said Ordinance be passed; and, after due
discussion, said motion, carrying with it the passage of said Ordinance, prevailed
and carried by the following vote:
AYES: All City Council members present above voted
"Aye."
NOES; None.
2. That a true, full, and correct copy of the aforesaid Ordinance passed at
the Meeting described in the above and foregoing paragraph is attached to and
follows this Certificate; that said Ordinance has been duly recorded in said Board's
minutes of said Meeting; that the above and foregoing paragraph is a true, full,
and correct excerpt from said Board's minutes of said Meeting pertaining to the
passage of said Ordinance; that the persons named in the above and foregoing
paragraph are the duly chosen, qualified, and acting officers and members of said
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City Council as indicated therein; that each of the officers and members of said
City Council was duly and sufficiently notified officially and personally, in advance,
of the time, place, and purpose of the aforesaid Meeting, and that said Ordinance
would be introduced and considered for passage at said Meeting, and each of said
officers and members consented, in advance, to the holding of said Meeting for
such purpose; and that said Meeting was open to the public, and public notice of
the time, place, and purpose of said Meeting was given all as required by
Vernon's Ann. Civ. St. Article 6252-17.
3. That the ordinance has not been modified, amended or repealed and is
in full force and effect on and as of the date hereof.
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SIGNED AND SEALED
JAni2,1
Clerk ayor
CI or y
(SEAL)
ORDINANCE AUTHORIZING THE ISSUANCE OF
CITY OF WICHITA FALLS, TEXAS
CERTIFICATES OF OBLIGATION
SERIES 1992
$4,000,000
THE STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS
WHEREAS, the City Council hereby finds and determines that the authorization of
tax and revenue certificates of obligation in the total principal amount of$4,000,000 should
be undertaken at this time; and
WHEREAS, the City Council of said City(the "Issuer")has heretofore on the 1st day
of June, 1992 adopted a resolution authorizing and directing notice of its intention to issue
the tax and revenue certificates of obligation herein authorized to be issued, pursuant to
Section 271.041 et. seq., Local Government Code, Vernon's Texas Codes Annotated; and
WHEREAS,said notice was published as required by said Article 2368a-1 V.A.T.C.S.
in the "Times Record News", which is a newspaper of general circulation in said Issuer, in
its issues of June 2, 1992 and June 9, 1992; and
WHEREAS,the City received a petition signed by 5% of the qualified electors of the
City protesting the issuance of such tax and revenue certificates of obligation unless the
issuance thereof was approved at an election called,held and conducted pursuant to the laws
of the State of Texas; and
WHEREAS, the City Council of said City held an election, pursuant to the laws of
the State of Texas, in said City on July 25, 1992, regarding the issuance of said certificates
of obligation; and
WHEREAS, the City Council has heretofore adopted a Resolution Canvassing
Election Returns on July 31, 1992,whereby the City Council officially found,determined and
declared that of the votes cast at said election, a majority were in favor of the submitted
propositon regarding the issuance of said certificates of obligation; and
WHEREAS, it is considered to be to the best interest of the City that said tax and
revenue certificates of obligation be issued;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, THAT:
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Section 1. AMOUNT AND PURPOSE OF THE CERTIFICATES OF
OBLIGATION. The certificates of obligation of the City of Wichita Falls, Texas (the
"Issuer")are hereby authorized to be issued and delivered in the aggregate principal amount
of $4,000,000, for the purpose of providing funds for paying contractual obligations to be
incurred for the purpose of paying in whole or in part the Issuer's contractual obligations
to construct, equip and purchase land for a Multi-Purpose Event Center, to be constructed
in Wichita County, and for paying, legal, fiscal architectural and engineering fees in
connection with this project.
Section 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS AND
MATURITIES OF CERTIFICATES OF OBLIGATION. Each certificate of obligation
issued pursuant to this Ordinance shall be designated: "CITY OF WICHITA FALLS,
TEXAS CERTIFICATES OF OBLIGATION,SERIES 1992",and there shall be issued,sold
and delivered hereunder fully registered certificates of obligation,without interest coupons,
dated August 1, 1992, in the respective denominations and principal amounts hereinafter
stated,numbered consecutively from R-1 upward,payable to the respective initial registered
owners thereof (as designated in Section 17 hereof), or to the registered assignee or
assignees of said certificates of obligation or any portion or portions thereof(in each case,
the "Registered Owner"), and said certificates of obligation shall mature and be payable
serially on September 1 in each of the years and in the principal amounts, respectively as
set forth in the following schedule:
YEARS AMOUNTS YEARS AMOUNTS
1993 $ 80,000 2003 $145,000
1994 100,000 2004 155,000
1995 105,000 2005 160,000
1996 105,000 2006 170,000
1997 110,000 2007 570,000
1998 115,000 2008 600,000
1999 120,000 2009 635,000
2000 125,000 2010 430,000
2001 135,000
2002 140,000
The term "Certificates of Obligation" as used in this Ordinance shall mean and include
collectively the certificates of obligation initially issued and delivered pursuant to this
Ordinance and all substitute certificates of obligation exchanged therefor,as well as all other
substitute certificates of obligation and replacement certificates of obligation issued pursuant
hereto, and the term "Certificate of Obligation" shall mean any of the Certificates of
Obligation.
Section 3. INTEREST. The Certificates of Obligation scheduled to mature during
the years, respectively, set forth below shall bear interest from the dates specified in the
FORM OF CERTIFICATE OF OBLIGATION set forth in this Ordinance to their
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respective dates of maturity or redemption prior to maturity at the following rates per
annum:
maturities 1993 2.75%
maturities 1994 3.20%
maturities 1995 3.60%
maturities 1996 4.00%
maturities 1997 ---- 4.25%
maturities 1998 4.50%
maturities 1999 4.70%
maturities 2000 4.90%
maturities 2001 - 5.10%
maturities 2002 -------- 5.10%
maturities 2003 -------- 5.20%
maturities 2004 -- 5.30%
maturities 2005 ------- 5.45%
maturities 2006 ------ 5.55%
maturities 2007 5.60%
maturities 2008 5.65%
maturities 2009 5.70%
maturities 2010 -------- 5.75%
Said interest shall be payable in the manner provided and on the dates stated in the FORM
OF CERTIFICATE OF OBLIGATION set forth in this Ordinance.
Section 4. CHARACTERISTICS OF THE CERTIFICATES OF OBLIGATION.
Registration. Transfer, and Exchange; Authentication. (a) The Issuer shall keep or cause
to be kept at the principal corporate trust office of the
, , (the 'Paying Agent/Registrar") books or records for the registration of the
transfer and exchange of the Certificates of Obligation (the "Registration Books"), and the
Issuer hereby appoints the Paying Agent/Registrar as its registrar and transfer agent to keep
such books or records and make such registrations of transfers and exchanges under such
reasonable regulations as the Issuer and Paying Agent/Registrar may prescribe; and the
Paying Agent/Registrar shall make such registrations,transfers and exchanges as herein pro-
vided. The Paying Agent/Registrar shall obtain and record in the Registration Books the
address of the registered owner of each Certificate of Obligation to which payments with
respect to the Certificates of Obligation shall be mailed, as herein provided; but it shall be
the duty of each registered owner to notify the Paying Agent/Registrar in writing of the
address to which payments shall be mailed, and such interest payments shall not be mailed
unless such notice has been given. To the extent possible and under reasonable
circumstances, all transfers of Certificates of Obligation shall be made within three business
days after request and presentation thereof. The Issuer shall have the right to inspect the
Registration Books during regular business hours of the Paying Agent/Registrar, but
otherwise the Paying Agent/Registrar shall keep the Registration Books confidential and,
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unless otherwise required by law, shall not permit their inspection by any other entity. The
Paying Agent/Registrar's standard or customary fees and charges for making such regis-
tration, transfer, exchange and delivery of a substitute Certificate of Obligation or
Certificates of Obligation shall be paid as provided in the FORM OF CERTIFICATE OF
OBLIGATION set forth in this Ordinance. Registration of assignments, transfers and ex-
changes of Certificates of Obligation shall be made in the manner provided and with the
effect stated in the FORM OF CERTIFICATE OF OBLIGATION set forth in this
Ordinance. Each substitute Certificate of Obligation shall bear a letter and/or number to
distinguish it from each other Certificate of Obligation.
Except as provided in (c) below, an authorized representative of the Paying
Agent/Registrar shall, before the delivery of any such Certificate of Obligation, date and
manually sign the Paying Agent/Registrar's Authentication Certificate, and no such
Certificate of Obligation shall be deemed to be issued or outstanding unless such Certificate
is so executed. The Paying Agent/Registrar promptly shall cancel all paid Certificates of
Obligation and Certificates of Obligation surrendered for transfer and exchange. No addi-
tional ordinances, orders, or resolutions need be passed or adopted by the governing body
of the Issuer or any other body or person so as to accomplish the foregoing transfer and
exchange of any Certificate of Obligation or portion thereof,and the Paying Agent/Registrar
shall provide for the printing, execution, and delivery of the substitute Certificates of
Obligation in the manner prescribed herein, and said Certificates of Obligation shall be of
type composition printed on paper with lithographed or steel engraved borders of customary
weight and strength. Pursuant to Vernon's Ann. Tex. Civ. St. Art. 717k-6, and particularly
Section 6 thereof, the duty of transfer and exchange of Certificates of Obligation as
aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of
said Certificate, the transferred and exchanged Certificate of Obligation shall be valid,
incontestable, and enforceable in the same manner and with the same effect as the
Certificates of Obligation which initially were issued and delivered pursuant to this
Ordinance, approved by the Attorney General, and registered by the Comptroller of Public
Accounts.
(b) Payment of Certificates of Obligation and Interest. The Issuer hereby further
appoints the Paying Agent/Registrar to act as the paying agent for paying the principal of
and interest on the Certificates of Obligation, all as provided in this Ordinance. The Paying
Agent/Registrar shall keep proper records of all payments made by the Issuer and the
Paying Agent/Registrar with respect to the Certificates of Obligation.
(c) In General. The Certificates of Obligation (i) shall be issued in fully registered
form, without interest coupons, with the principal of and interest on such Certificates of
Obligation to be payable only to the registered owners thereof, (ii) may be redeemed prior
to their scheduled maturities (notice of which shall be given to the Paying Agent/Registrar
by the Issuer at least 35 days prior to any such redemption date), (iii) may be transferred
and assigned, (iv) may be exchanged for other Certificates of Obligation, (v) shall have the
characteristics, (vi) shall be signed, sealed,executed and authenticated, (vii)shall be payable
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as to the principal of and interest on such Certificates, and (viii) shall be administered and
the Paying Agent/Registrar and the Issuer shall have certain duties and responsibilities with
respect to the Certificates of Obligation,all as provided, and in the manner and to the effect
as required or indicated, in the FORM OF CERTIFICATE OF OBLIGATION set forth in
this Ordinance. The Certificates of Obligation initially issued and delivered pursuant to this
Ordinance are not required to be,and shall not be,authenticated by the Paying Agent/Regis-
trar, but on each substitute Certificate of Obligation issued in exchange for any Certificate
of Obligation or Certificates of Obligation issued under this Ordinance the Paying
Agent/Registrar shall execute the PAYING AGENT/REGISTRAR'S AUTHENTICATION
CERTIFICATE, in the form set forth in the FORM OF CERTIFICATE OF
OBLIGATION.
(d) Substitute Paying Agent/Registrar. The Issuer covenants with the registered
owners of the Certificates of Obligation that at all times while the Certificates of Obligation
are outstanding the Issuer will provide a competent and legally qualified bank, trust
company, financial institution, or other agency to act as and perform the services of Paying
Agent/Registrar for the Certificates of Obligation under this Ordinance, and that the Paying
Agent/Registrar will be one entity. The Issuer reserves the right to, and may, at its option,
change the Paying Agent/Registrar upon not less than 120 days written notice to the Paying
Agent/Registrar, to be effective not later than 60 days prior to the next principal or interest
payment date after such notice. In the event that the entity at any time acting as Paying
Agent/Registrar (or its successor by merger, acquisition, or other method) should resign or
otherwise cease to act as such, the Issuer covenants that promptly it will appoint a
competent and legally qualified bank, trust company, financial institution, or other agency
to act as Paying Agent/Registrar under this Ordinance. Upon any change in the Paying
Agent/Registrar,the previous Paying Agent/Registrar promptly shall transfer and deliver the
Registration Books (or a copy thereof), along with all other pertinent books and records
relating to the Certificates of Obligation, to the new Paying Agent/Registrar designated and
appointed by the Issuer. Upon any change in the Paying Agent/Registrar, the Issuer
promptly will cause a written notice thereof to be sent by the new Paying Agent/Registrar
to each registered owner of the Certificates of Obligation, by United States mail, first-class
postage prepaid,which notice also shall give the address of the new Paying Agent/Registrar.
By accepting the position and performing as such, each Paying Agent/Registrar shall be
deemed to have agreed to the provisions of this Ordinance, and a certified copy of this
Ordinance shall be delivered to each Paying Agent/Registrar.
Section 5. FORM OF CERTIFICATES OF OBLIGATION. The form of the
Certificates of Obligation, including the form of Paying Agent/Registrar's Authentication
Certificate, the form of Assignment and the form of Registration Certificate of the
Comptroller of Public Accounts of the State of Texas to be attached to the Certificates of
Obligation initially issued and delivered pursuant to this Ordinance, shall be, respectively,
substantially as follows, with such appropriate variations, omissions, or insertions as are
permitted or required by this Ordinance.
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FORM OF CERTIFICATE OF OBLIGATION
NO. R- PRINCIPAL
AMOUNT
$
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS
CERTIFICATE OF OBLIGATION
SERIES 1992
INTEREST RATE MATURITY DATE CUSIP NO.
% September 1,
REGISTERED OWNER:
PRINCIPAL AMOUNT: DOLLARS
ON THE MATURITY DATE specified above, the CITY OF WICHITA FALLS, in
Wichita County, Texas (the "Issuer"), being a political subdivision of the State of Texas,
hereby promises to pay to the Registered Owner set forth above, or registered assigns
(hereinafter called the "registered owner") the principal amount set forth above, and to pay
interest thereon from August 1, 1992, on March 1, 1993 and semiannually on each
September 1 and March 1 thereafter to the maturity date specified above, or the date of
redemption prior to maturity, at the interest rate per annum specified above; except that if
this Certificate of Obligation is required to be authenticated and the date of its authenti-
cation is later than the first Record Date (hereinafter defined), such principal amount shall
bear interest from the interest payment date next preceding the date of authentication,
unless such date of authentication is after any Record Date but on or before the next
following interest payment date,in which case such principal amount shall bear interest from
such next following interest payment date; provided, however, that if on the date of au-
thentication hereof the interest on the Certificate of Obligation or Certificates of Obligation,
if any, for which this Certificate of Obligation is being exchanged is due but has not been
paid, then this Certificate of Obligation shall bear interest from the date to which such
interest has been paid in full.
THE PRINCIPAL OF AND INTEREST ON this Certificate of Obligation are
payable in lawful money of the United States of America, without exchange or collection
charges. The principal of this Certificate of Obligation shall be paid to the registered owner
hereof upon presentation and surrender of this Certificate of Obligation at maturity or upon
the date fixed for its redemption prior to maturity, at the principal corporate trust office of
the , , which is the 'Paying
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Agent/Registrar" for this Certificate of Obligation. The payment of interest on this
Certificate of Obligation shall be made by the Paying Agent/Registrar to the registered
owner hereof on each interest payment date by check, dated as of such interest payment
date, drawn by the Paying Agent/Registrar on, and payable solely from, funds of the Issuer
required by the ordinance authorizing the issuance of this Certificate of Obligation (the
"Certificate of Obligation Ordinance") to be on deposit with the Paying Agent/Registrar for
such purpose as hereinafter provided; and such check shall be sent by the Paying
Agent/Registrar by United States mail, first-class postage prepaid, on each such interest
payment date, to the registered owner hereof, at its address as it appeared on the fifteenth
(15th) day of the month next preceding each such date (the "Record Date") on the Regis-
tration Books kept by the Paying Agent/Registrar, as hereinafter described. In addition,
interest may be paid by such other method, acceptable to the Paying Agent/Registrar, re-
quested by, and at the risk and expense of the registered owner. In the event of a non-
payment of interest on a scheduled interest payment date, and for 30 days thereafter, a new
record date for such interest payment (a "Special Record Date") will be established by the
Paying Agent/Registrar, if and when funds for the payment of such interest have been
received from the Issuer. Notice of the Special Record Date and of the scheduled payment
date of the past due interest (the "Special Payment Date" which shall be 15 days after the
Special Record Date) shall be sent at least five business days prior to the Special Record
Date by United States mail, first-class postage prepaid, to the address of each registered
owner of a Certificate appearing on the Registration Books of the Paying Agent/Registrar
at the close of business on the last business day next preceding the date of mailing of such
notice.
Any accrued interest due at maturity or upon the redemption of this Certificate of
Obligation prior to maturity as provided herein shall be paid to the registered owner upon
presentation and surrender of this Certificate of Obligation for redemption and payment at
the principal corporate trust office of the Paying Agent/Registrar. The Issuer covenants with
the registered owner of this Certificate of Obligation that on or before each principal
payment date, interest payment date, and accrued interest payment date for this Certificate
of Obligation it will make available to the Paying Agent/Registrar, from the "Interest and
Sinking Fund" created by the Certificate of Obligation Ordinance, the amounts required to
provide for the payment, in immediately available funds, of all principal of and interest on
the Certificates of Obligation, when due.
IF THE DATE for the payment of the principal of or interest on this Certificate of
Obligation shall be a Saturday, Sunday, a legal holiday, or a day on which banking
institutions in the Issuer where the principal corporate trust office of the Paying
Agent/Registrar is located are authorized by law or executive order to close, or the United
States Postal Service is not open for business, then the date for such payment shall be the
next succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which
banking institutions are authorized to close, or the United States Postal Service is not open
for business; and payment on such date shall have the same force and effect as if made on
the original date payment was due.
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THIS CERTIFICATE OF OBLIGATION is one of a Series of Certificates of
Obligation dated August 1, 1992, authorized in accordance with the Constitution and laws
of the State of Texas in the principal amount of $4,000,000 P P�
$ FOR THE PURPOSE OF
PAYING IN WHOLE OR IN PART THE ISSUER'S CONTRACTUAL OBLIGATIONS
TO CONSTRUCT, EQUIP AND PURCHASE LAND FOR A MULTI-PURPOSE
EVENT CENTER, TO BE CONSTRUCTED IN WICHITA COUNTY, AND FOR
PAYING LEGAL, FISCAL, ARCHITECTURAL AND ENGINEERING FEES IN
CONNECTION WITH THIS PROJECT.
ON September 1, 2001, or on any date thereafter, the Certificates of Obligation of
this Series may be redeemed prior to their scheduled maturities, at the option of the Issuer,
with funds derived from any available and lawful source, as a whole, or in part, and, if in
part, the Issuer shall determine the amounts of each maturity or maturities to be redeemed
and shall direct the Paying Agent/Registrar to select by lot the particular Certificates of
Obligation, or portions thereof within such maturity or maturities,to be redeemed (provided
that a portion of a Bond may be redeemed only in an integral multiple of $5,000), at a
redemption price equal to the principal amount of the Certificates of Obligation to be
redeemed, plus accrued interest to the date fixed for redemption.
AT LEAST 30 days prior to the date fixed for any redemption of Certificates of
Obligation or portions thereof prior to maturity a written notice of such redemption shall
be published once in a financial publication,journal or reporter of general circulation among
securities dealers in The City of New York,New York or in the State of Texas. Such notice
also shall be sent by the Paying Agent/Registrar by United States mail, first-class postage
prepaid, at least 30 days prior to the date fixed for any such redemption, to the registered
owner of each Bond to be redeemed at its address as it appeared on the 45th day prior to
such redemption date and to major securities depositories,national bond rating agencies and
bond information services; provided, however, that the failure to send, mail or receive such
notice, or any defect therein or in the sending or mailing thereof, shall not affect the validity
or effectiveness of the proceedings for the redemption of any Bond, and it is hereby
specifically provided that the publication of such notice as required above shall be the only
notice actually required in connection with or as a prerequisite to the redemption of any
Certificates of Obligation or portions thereof. By the date fixed for any such redemption,
due provision shall be made with the Paying Agent/Registrar for the payment of the required
redemption price for the Certificates of Obligation or portions thereof which are to be so
redeemed. If such written notice of redemption is published and if due provision for such
payment is made, all as provided above, the Certificates of Obligation or portions thereof
which are to be so redeemed thereby automatically shall be treated as redeemed prior to
their scheduled maturities, and they shall not bear interest after the date fixed for
redemption, and they shall not be regarded as being outstanding except for the right of the
registered owner to receive the redemption price from the Paying Agent/Registrar out of the
funds provided for such payment. If a portion of any Certificate of Obligation shall be
redeemed, a substitute Certificate of Obligation having the same maturity date, bearing
interest at the same rate, in any denomination or denominations in any integral multiple of
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$5,000, at the written request of the registered owner, and in aggregate amount equal to the
unredeemed portion thereof, will be issued to the registered owner upon the surrender
thereof for cancellation, at the expense of the Issuer, all as provided in the Certificate of
Obligation Ordinance.
ALL CERTIFICATES OF OBLIGATION OF THIS SERIES are issuable solely as
fully registered Certificates of Obligation, without interest coupons, in the denomination of
any integral multiple of$5,000. As provided in the Certificate of Obligation Ordinance, this
Certificate of Obligation, or any unredeemed portion hereof, may, at the request of the
registered owner or the assignee or assignees hereof,be assigned,transferred and exchanged
for a like aggregate principal amount of fully registered Certificates of Obligation, without
interest coupons, payable to the appropriate registered owner, assignee or assignees, as the
case may be, having the same denomination or denominations in any integral multiple of
$5,000 as requested in writing by the appropriate registered owner, assignee or assignees,
as the case may be, upon surrender of this Certificate of Obligation to the Paying
Agent/Registrar for cancellation, all in accordance with the form and procedures set forth
in the Certificate of Obligation Ordinance. Among other requirements for such assignment
and transfer, this Certificate of Obligation must be presented and surrendered to the Paying
Agent/Registrar,together with proper instruments of assignment,in form and with guarantee
of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment of this
Certificate of Obligation or any portion or portions hereof in any integral multiple of$5,000
to the assignee or assignees in whose name or names this Certificate of Obligation or any
such portion or portions hereof is or are to be registered. The form of Assignment printed
or endorsed on this Certificate of Obligation may be executed by the registered owner to
evidence the assignment hereof, but such method is not exclusive, and other instruments of
assignment satisfactory to the Paying Agent/Registrar may be used to evidence the assign-
ment of this Certificate of Obligation or any portion or portions hereof from time to time
by the registered owner. The one requesting such transfer and exchange shall pay the
Paying Agent/Registrar's reasonable standard or customary fees and charges for transferring
and exchanging any Certificate of Obligation or portion thereof. In any circumstance, any
taxes or governmental charges required to be paid with respect thereto shall be paid by the
one requesting such assignment, transfer or exchange, as a condition precedent to the
exercise of such privilege. The foregoing notwithstanding, in the case of the exchange of a
portion of a Certificate of Obligation which has been redeemed prior to maturity, as
provided herein, and in the case of the exchange of an assigned and transferred Certificate
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of Obligation or Certificates of Obligation or any portion or portions thereof, such fees and
charges of the Paying Agent/Registrar will be paid by the Issuer. The Paying Agent/Regis-
trar shall not be required to make any such transfer or exchange (i) during the period
commencing with the close of business on any Record Date and ending with the opening of
business on the next following principal or interest payment date, or (ii)with respect to any
Certificate of Obligation or any portion thereof called for redemption prior to maturity,
within forty five (45) days prior to its redemption date; provided, however, such limitation
of transfer shall not be applicable to an exchange by a registered owner of the unredeemed
balance of a Certificate of Obligation called for redemption.
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IN THE EVENT any Paying Agent/Registrar for the Certificates of Obligation is
changed by the Issuer, resigns, or otherwise ceases to act as such, the Issuer has covenanted
in the Certificate of Obligation Ordinance that it promptly will appoint a competent and
legally qualified substitute therefor, and cause written notice thereof to be mailed to the
registered owners of the Certificates of Obligation.
IT IS HEREBY CERTIFIED,REC1'FED AND COVENANTED that this Certificate
of Obligation has been duly and validly authorized, issued, and delivered; that all acts,
conditions, and things required or proper to be performed, exist, and be done precedent to
or in the authorization, issuance, and delivery of this Certificate of Obligation have been
performed,existed,and been done in accordance with law; that this Certificate of Obligation
is a general obligation of said Issuer, issued on the full faith and credit thereof; and that
annual ad valorem taxes sufficient to provide for the payment of the interest on and
principal of this Certificate of Obligation, as such interest comes due and such principal
matures, have been levied and ordered to be levied against all taxable property in said
Issuer, and have been pledged irrevocably for such payment, within the limit prescribed by
law; and that this Certificate of Obligation is additionally secured by and payable from the
Issuer's portion of the Net Revenues of the Multi-Purpose Event Center, remaining after
payment of all operation and maintenance expenses thereof, and all debt service, reserve,
and other requirements in connection with any of the Issuer's revenue bonds or other
obligations (now or hereafter outstanding), which are payable from all or any part of the
Issuer's interest in the Net Revenues of the Multi-Purpose Event Center, constituting
"Surplus Revenues".
SAID ISSUER has reserved the right, subject to the restrictions stated, or adopted
by reference, in the ordinance authorizing the Certificates of Obligation, to issue additional
obligations, payable from and secured by a pledge of the Surplus Revenues of the Multi-
Purpose Event Center, whether payable from the net revenues of the system and senior to
the lien securing the Certificates or payable from the Surplus Revenues of the Multi-Purpose
Event Center and on a parity with the certificates; and whether or not, in either case, such
obligations are additionally secured by a tax levy.
BY BECOMING the registered owner of this Certificate of Obligation,the registered
owner thereby acknowledges all of the terms and provisions of the Certificate of Obligation
Ordinance, agrees to be bound by such terms and provisions, acknowledges that the
Certificate of Obligation Ordinance is duly recorded and available for inspection in the offi-
cial minutes and records of the governing body of the Issuer, and agrees that the terms and
provisions of this Certificate of Obligation and the Certificate of Obligation Ordinance
constitute a contract between each registered owner hereof and the Issuer.
IN WITNESS WHEREOF, the Issuer has caused this Certificate of Obligation to be
signed with the facsimile or manual signature of the Mayor of the Issuer and countersigned
with the facsimile or manual signature of the City Secretary of the Issuer, and has caused
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the official seal of the Issuer to be duly impressed, or placed in facsimile, on this Certificate
of Obligation.
City Secretary, Mayor,
(SEAL)
FORM OF PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
(To be executed if this Certificate of Obligation
is not accompanied by an executed
Registration Certificate of the Comptroller
of Public Accounts of the State of Texas)
It is hereby certified that this Certificate of Obligation has been issued under the
provisions of the Certificate of Obligation Ordinance described in the text of this Certificate
of Obligation; and that this Certificate of Obligation has been issued in exchange for, a
certificate of obligation, certificates of obligation, or a portion of a certificate of obligation
or certificates of obligation of a Series which originally was approved by the Attorney
General of the State of Texas and registered by the Comptroller of Public Accounts of the
State of Texas.
Dated
DALLAS, TEXAS
Paying Agent/Registrar
By
Authorized Representative
FORM OF ASSIGNMENT:
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned registered owner of this certificate of
obligation or duly authorized representative or attorney thereof, hereby assigns this
certificate of obligation to
(Assignee's Social (print or typewrite Assignee's name
Security or Taxpayer and address, including zip code)
Identification Number)
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and hereby
irrevocably constitutes and appoints
attorney to transfer the registration of this certificate of obligation on the Certificate of
Obligation Registration Books with full power of substitution in the premises.
Dated:
Signature Guaranteed:
NOTICE: The signature of the Registered Owner
Registered Owner must be guar- NOTICE: This signature must
anteed by a member of the New correspond with the name of
York Stock Exchange or a coin- the Registered Owner appearing
mercial bank or trust company. on the face of this Certifi-
cate of Obligation.
FORM OF REGISTRATION CERTIFICATE OF
THE COMPTROI J.FR OF PUBLIC ACCOUNTS:
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO.
I hereby certify that this Certificate of Obligation has been examined, certified as to
validity, and approved by the Attorney General of the State of Texas, and that this Certifi-
cate of Obligation has been registered by the Comptroller of Public Accounts of the State
of Texas.
Witness my signature and seal this
Comptroller of Public Accounts
of the State of Texas
(COMPTROLLER'S SEAL)
12
[FORM OF INSURANCE LEGEND]
The legend relating to the insurance policy to be issued by Insurer shall be
substantially in the form set forth in the Commitment Letter from Insurer to Mr. Fred L.
Werner, Director of Finance, dated _, 1992.
***END OF CERTIFICATES OF OBLIGATION FORM***
Section 6. ADDITIONAL OBLIGATIONS. The Issuer reserves the right to issue
additional obligations,payable from and secured by a pledge of the Surplus Revenues of the
Multi-Purpose Event Center, whether payable from the net revenues of the Multi-Purpose
Event Center and senior to the lien securing the Certificates or payable from the Surplus
Revenues of the Multi-Purpose Event Center (as defined in the Form of Certificates of
Obligation) and on a parity with the Certificates; and whether or not, in either case, such
obligations are additionally secured by a tax levy.
Section 7. FUNDS. The following special fund is hereby established and shall be
maintained as long as any of the Certificates or the interest thereon is outstanding and
unpaid:
City of Wichita Falls, Texas Certificates of Obligation, Series 1992 Interest and
Sinking Fund, hereinafter called the "Interest and Sinking Fund." This Fund shall be initially
established and maintained at the official depository of the Issuer.
Section 8. INTEREST AND SINKING FUND AND TAX LEVY. The Interest and
Sinking Fund shall be kept separate and apart from all other funds and accounts of said
Issuer, and shall be used only for paying the interest on and principal of the Certificates.
All ad valorem taxes levied and collected for and on account of the Certificates shall be
deposited, as collected, to the credit of said Interest and Sinking Fund. During each year
while any of the Certificates or interest thereon are outstanding and unpaid,the City Council
shall compute and ascertain a rate and amount of ad valorem tax which will be sufficient to
raise and produce the money required to pay the interest on the Certificates as such interest
comes due,and to provide and maintain a sinking fund adequate to pay the principal of such
Certificates as such principal matures (but never less than 2% of the original amount of the
Certificates as a sinking fund each year); and said tax shall be based on the latest approved
tax rolls of the Issuer, with full allowances being made for tax delinquencies and the cost of
tax collection. Said rate and amount of ad valorem tax is hereby levied, and is hereby
ordered to be levied, against all taxable property in the Issuer, for each year while any of
the Certificates or interest thereon are outstanding and unpaid, and said tax shall be
assessed and collected each such year and deposited to the credit of the aforesaid Interest
and Sinking Fund. Said ad valorem taxes sufficient to provide for the payment of the
interest on and principal of the Certificates, as such interest comes due and such principal
matures,are hereby pledged irrevocably for such payment,within the limit prescribed by law.
All investment income and profits received from the investment of the proceeds of the
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Certificates of Obligation shall also be deposited in the Interest and Sinking Fund to the
extent they are not expended for the purpose for which the Certificates of Obligation are
being issued.
Section 9. PLEDGE OF SURPLUS REVENUES. The Certificates of Obligation
are additionally secured by and shall be payable from the Issuer's portion of the net
revenues of the Multi-Purpose Event Center,which constitutes a coliseum, exhibit hall and
agricultural/arena buildings that will be jointly owned with the County of Wichita, remaining
after payment of all operation and maintenance expenses thereof, and all debt service,
reserve, and other requirements in connection with any of the Issuer's revenues bonds or
other obligations (now or hereafter outstanding), which are payable from all or any part of
the Issuer's interest in the net revenues of the Multi-Purpose Event Center, constituting
"Surplus Revenues". The Issuer shall deposit such Surplus Revenues to the credit of the
Interest and Sinking Fund created pursuant to Section 8, to the extent necessary to pay the
principal and interest on the Certificates of Obligation. Notwithstanding the requirements
of Section 8, if Surplus Revenues are actually on deposit or budgeted for deposit in the
Interest and Sinking Fund in advance of the time when ad valorem taxes are scheduled to
be levied for any year, then the amounts of taxes which otherwise would have been required
to be levied pursuant to Section 8 may be reduced to the extent and by the amount of the
Surplus Revenues then on deposit in the Interest and Sinking Fund or budgeted for deposit
therein.
Section 10. FINAL PAYMENT. Whenever the total amount in the Interest and Sinking
Fund shall be equivalent to(1)the aggregate principal amount of all outstanding Certificates
plus (2) the aggregate amount of all unpaid interest, accrued and to accrue to maturity, and
any premiums then payable, no further payments need to be made into the Interest and
Sinking Fund.
Section 11. SECURITY FOR FUNDS. All Funds created by this ordinance shall be
secured in the manner and to the fullest extent permitted or required by law for the security
of public funds, and such Funds shall be used only for the purposes and in the manner
permitted or required by this ordinance.
Section 12. ACCOUNTS. The Issuer shall keep proper books of records and accounts
of the Issuer,in which complete and correct entries shall be made of all transactions relating
to the Multi-Purpose Event Center, and shall have said books audited once each fiscal year
by a Certified Public Accountant.
Section 13. DEFEASANCE OF CERTIFICATES OF OBLIGATION. (a) Any
Certificate of obligation and the interest thereon shall be deemed to be paid, retired, and
no longer outstanding (a "Defeased Certificate of Obligation") within the meaning of this
Ordinance, except to the extent provided in subsection (d) of this Section 13,when payment
of the principal of such Certificate of Obligation, plus interest thereon to the due date
(whether such due date be by reason of maturity, upon redemption, or otherwise) either (i)
14
shall have been made or caused to be made in accordance with the terms thereof(including
the giving of any required notice of redemption), or (ii) shall have been provided for on or
before such due date by irrevocably depositing with or making available to the Paying
Agent/Registrar for such payment (1) lawful money of the United States of America
sufficient to make such payment or(2)Government Obligations which mature as to principal
and interest in such amounts and at such times as will insure the availability, without
reinvestment, of sufficient money to provide for such payment, and when proper
arrangements have been made by the Issuer with the Paying Agent/Registrar for the
payment of its services until all Defeased Certificates of obligation shall have become due
and payable. At such time as a Certificate of Obligation shall be deemed to be a Defeased
Certificate of Obligation hereunder, as aforesaid, such Certificate of Obligation and the
interest thereon shall no longer be secured by, payable from, or entitled to the benefits of,
the ad valorem taxes and revenues herein levied and pledged as provided in this ordinance,
and such principal and interest shall be payable solely from such money or Government
Obligations.
(b) Any moneys so deposited with the Paying Agent/Registrar may at the written
direction of the Issuer also be invested in Government obligations, maturing in the amounts
and times as hereinbefore set forth, and all income from such Government Obligations
received by the Paying Agent/Registrar which is not required for the payment of the
Certificates of Obligation and interest thereon, with respect to which such money has been
so deposited, shall be turned over to the Issuer, or deposited as directed in writing by the
Issuer.
(c) The term "Government Obligations" as used in this Section, shall mean direct
obligations of the United States of America, including obligations the principal of and
interest on which are unconditionally guaranteed by the United States of America, which
may be United States Treasury obligations such as its State and Local Government Series,
which may be in book-entry form.
(d) Until all Defeased Certificates of Obligation shall have become due and
payable,the Paying Agent/Registrar shall perform the services of Paying Agent/Registrar for
such Defeased Certificates of Obligation the same as if they had not been defeased, and the
Issuer shall make proper arrangements to provide and pay for such services as required by
this ordinance.
Section 14. DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROYED
CERTIFICATES OF OBLIGATION. (a) Replacement Certificates of Obligation. In the
event any outstanding Certificate of Obligation is damaged, mutilated, lost, stolen, or
destroyed, the Paying Agent/Registrar shall cause to be printed, executed, and delivered, a
new certificate of obligation of the same principal amount,maturity, and interest rate,as the
damaged, mutilated, lost, stolen, or destroyed Certificate of Obligation, in replacement for
such Certificate of Obligation in the manner hereinafter provided.
15
(b) Application kr Replacement Certificates Qf Obligation. Application for
replacement of damaged, mutilated, lost, stolen, or destroyed Certificates of obligation shall
be made by the registered owner thereof to the Paying Agent/Registrar. In every case of
loss, theft, or destruction of a Certificate of Obligation, the registered owner applying for a
replacement certificate of obligation shall furnish to the Issuer and to the Paying
Agent/Registrar such security or indemnity as may be required by them to save each of them
harmless from any loss or damage with respect thereto. Also, in every case of loss, theft,
or destruction of a Certificate of Obligation, the registered owner shall furnish to the Issuer
and to the Paying Agent/Registrar evidence to their satisfaction of the loss, theft, or
destruction of such Certificate of obligation, as the case may be. In every case of damage
or mutilation of a Certificate of Obligation, the registered owner shall surrender to the
Paying Agent/Registrar for cancellation the Certificate of Obligation so damaged or
mutilated.
(c) No Default Occurred. Notwithstanding the foregoing provisions of this
Section, in the event any such Certificate of obligation shall have matured, and no default
has occurred which is then continuing in the payment of the principal of, redemption
premium, if any, or interest on the Certificate of obligation, the Issuer may authorize the
payment of the same (without surrender thereof except in the case of a damaged or
mutilated Certificate of obligation)instead of issuing a replacement Certificate of Obligation,
provided security or indemnity is furnished as above provided in this Section.
(d) Charge for Issuing Replacement Certificates of Obligation. Prior to the
issuance of any replacement certificate of obligation,the Paying Agent/Registrar shall charge
the registered owner of such Certificate of Obligation with all legal, printing, and other
expenses in connection therewith. Every replacement certificate of obligation issued
pursuant to the provisions of this Section by virtue of the fact that any Certificate of
obligation is lost, stolen, or destroyed shall constitute a contractual obligation of the Issuer
whether or not the lost, stolen, or destroyed Certificate of Obligation shall be found at any
time, or be enforceable by anyone, and shall be entitled to all the benefits of this ordinance
equally and proportionately with any and all other Certificates of Obligation duly issued
under this ordinance.
(e) Authority for Issuing Replacement Certificates of Obligation. In accordance
with Section 6 of Vemon's Ann. Tex. Civ. St. Art. 717k-6, this Section 14 of this Ordinance
shall constitute authority for the issuance of any such replacement certificate of obligation
without necessity of further action by the governing body of the Issuer or any other body or
person, and the duty of the replacement of such certificates of obligation is hereby
authorized and imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar
shall authenticate and deliver such Certificates of obligation in the form and manner and
with the effect, as provided in Section 14 a of this ordinance>� p ( ) ance for Certificates of Obligation
issued in exchange for other Certificates of Obligation.
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Section 15. CUSTODY, APPROVAL, AND REGISTRATION OF CERTIFICATES
OF OBLIGATION;BOND COUNSEL'S OPINION,AND CUSIP NUMBERS. The Mayor
of the Issuer is hereby authorized to have control of the Certificates of Obligation initially
issued and delivered hereunder and all necessary records and proceedings pertaining to the
Certificates of Obligation pending their delivery and their investigation, examination, and
approval by the Attorney General of the State of Texas, and their registration by the
Comptroller of Public Accounts of the State of Texas. Upon registration of the Certificates
of obligation said Comptroller of Public Accounts (or a deputy designated in writing to act
for said Comptroller)shall manually sign the Comptroller's Registration Certificate attached
to such Certificates of Obligation, and the seal of said Comptroller shall be impressed, or
placed in facsimile, on such Certificate. The approving legal opinion of the Issuer's Bond
Counsel and the assigned CUSIP numbers may, at the option of the Issuer, be printed on
the Certificates of Obligation issued and delivered under this Ordinance, but neither shall
have any legal effect, and shall be solely for the convenience and information of the
registered owners of the Certificates of obligation.
Section 16. DESIGNATION AS QUALIFIED TAX-EXEMPT CERTIFICATES OF
OBLIGATION. The Issuer hereby designates the Certificates of Obligation as "qualified
tax-exempt bonds"as defined in section 265(b)(3)of the Internal Revenue Code of 1986(the
"Code"), conditioned upon the purchaser identified in Section 18 hereof certifying that the
aggregate initial offering price of the Certificates of Obligation to the public (excluding any
accrued interest) is no greater than $10 million. Assuming such condition is met, in
furtherance of such designation,the Issuer represents,covenants and warrants the following:
(a) that during the calendar year in which the Certificates of Obligation are issued, the
Issuer(including any subordinate entities)has not designated nor will designate bonds,which
when aggregated with the Certificates of Obligation, will result in more than $10,000,000 of
"qualified tax-exempt bonds"being issued; (b) that the Issuer reasonably anticipates that the
amount of tax-exempt obligations issued during the calendar year in which the Certificates
of Obligation are issued by the Issuer (or any subordinate entities) will not exceed
$10,000,000; and, (c) that the Issuer will take such action or refrain from such action as
necessary, and as more particularly set forth in Section 17 hereof, in order that the
Certificates of Obligation will not be considered "private activity bonds"within the meaning
of section 141 of the Code.
Section 17. COVENANTS REGARDING TAX-EXEMPTION. The Issuer
covenants to refrain from any action which would adversely affect, or to take such action to
ensure,the treatment of the Certificates of Obligation as obligations described in section 103
of the Code, the interest on which is not includable in the "gross income" of the holder for
purposes of federal income taxation. In furtherance thereof,the Issuer covenants as follows:
(a) to take any action to assure that no more than 10 percent of the proceeds
of the Certificates of Obligation(less amounts deposited to a reserve fund,if any)are
used for any "private business use," as defined in section 141(b)(6) of the Code or,
17
if more than 10 percent of the proceeds are so used, that amounts, whether or not
received by the Issuer, with respect to such private business use, do not, under the
terms of this Resolution or any underlying arrangement, directly or indirectly, secure
or provide for the payment of more than 10 percent of the debt service on the
Certificates of Obligation, in contravention of section 141(b)(2) of the Code;
(b) to take any action to assure that in the event that the "private business
use" described in subsection (a) hereof exceeds 5 percent of the proceeds of the
Certificates of Obligation (less amounts deposited into a reserve fund, if any) then
the amount in excess of 5 percent is used for a "private business use" which is
"related" and not "disproportionate," within the meaning of section 141(b)(3) of the
Code, to the governmental use;
(c) to take any action to assure that no amount which is greater than the
lesser of $5,000,000, or 5 percent of the proceeds of the Certificates of Obligation
(less amounts deposited into a reserve fund, if any) is directly or indirectly used to
finance loans to persons, other than state or local governmental units, in
contravention of section 141(c) of the Code;
(d) to refrain from taking any action which would otherwise result in the
Certificates of Obligation being treated as "private activity certificates of obligation"
within the meaning of section 141(b) of the Code;
(e) to refrain from taking any action that would result in the Certificates of
Obligation being "federally guaranteed" within the meaning of section 149(b) of the
Code;
(f) to refrain from using any portion of the proceeds of the Certificates of
Obligation, directly or indirectly, to acquire or to replace funds which were used,
directly or indirectly, to acquire investment property (as defined in section 148(b)(2)
of the Code) which produces a materially higher yield over the term of the
Certificates of Obligation, other than investment property acquired with —
(1) proceeds of the Certificates of Obligation invested for a reasonable
temporary period of 3 years or less or, in the case of a refunding bond, for a
period of 30 days or less until such proceeds are needed for the purpose for
which the certificates of obligation are issued,
(2) amounts invested in a bona fide debt service fund,within the meaning
of section 1.103-13(b)(12) of the Treasury Regulations, and
(3) amounts deposited in any reasonably required reserve or replacement
fund to the extent such amounts do not exceed 10 percent of the proceeds of
the Certificates of Obligation;
18
(g) to otherwise restrict the use of the proceeds of the Certificates of
Obligation or amounts treated as proceeds of the Certificates of Obligation, as may
be necessary, so that the Certificates of Obligation do not otherwise contravene the
requirements of section 148 of the Code (relating to arbitrage) and, to the extent
applicable, section 149(d) of the Code (relating to advance refundings);
(h) to pay to the United States of America at least once during each five-year
period(beginning on the date of delivery of the Certificates of Obligation)an amount
that is at least equal to 90 percent of the "Excess Earnings," within the meaning of
section 148(f) of the Code and to pay to the United States of America, not later than
60 days after the Certificates of Obligation have been paid in full, 100 percent of the
amount then required to be paid as a result of Excess Earnings under section 148(f)
of the Code; and
(i) to maintain such records as will enable the Issuer to fulfill its
responsibilities under this section and section 148 of the Code and to retain such
records for at least six years following the final payment of principal and interest on
the Certificates of Obligation.
It is the understanding of the Issuer that the covenants contained herein are intended to
assure compliance with the Code and any regulations or rulings promulgated by the U.S.
Department of the Treasury pursuant thereto. In the event that regulations or ruling are
hereafter promulgated which modify, or expand provisions of the Code, as applicable to the
Certificates of Obligation, the Issuer will not be required to comply with any covenant
contained herein to the extent that such failure to comply, in the opinion of nationally-rec-
ognized bond counsel,will not adversely affect the exemption from federal income taxation
of interest on the Certificates of Obligation under section 103 of the Code. In the event that
regulations or rulings are hereafter promulgated which impose additional requirements which
are applicable to the Certificates of Obligation, the Issuer agrees to comply with the
additional requirements to the extent necessary,in the opinion of nationally-recognized bond
counsel, to preserve the exemption from federal income taxation of interest on the
Certificates of Obligation under section 103 of the Code.
Section 18. SALE OF CERTIFICATES; APPROVAL OF OFFICIAL
STATEMENT. The Certificates of Obligation are hereby sold and shall be delivered to
Southwest Securities Incorporated and Banc One Capital Corporation, for the price of
$3,929,744.50 and accrued interest to date of delivery pursuant to the terms and provisions
of a Purchase Contract in substantially the form attached hereto as Exhibit A which the
Mayor of the Issuer is hereby authorized and directed to execute and deliver and which the
City Clerk of the Issuer is hereby authorized and directed to attest. It is hereby officially
found, determined, and declared that the terms of this sale are the most advantageous
reasonably obtainable. The Certificates of Obligation shall initially be registered in the name
of Southwest Securities Incorporated and it is hereby officially found, determined, and
declared that the Certificates of Obligation have been sold pursuant to an Official Statement
19
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4 , ^s
•
dated August 5, 1992 prepared and distributed in connection with the sale of the Certificates
of Obligation. Said Official Statement,and any addenda,supplement,or amendment thereto
have been and are hereby approved by the governing body of the Issuer, and their use in
the offer and sale of the Certificates of Obligation is hereby approved. It is further officially
found, determined, and declared that the statements and representations contained in said
Official Statement are true and correct in all material respects, to the best knowledge and
belief of the governing body of the Issuer.
Section 19. INSURANCE. The Mayor is authorized to execute an Application for
Municipal Bond Guaranty Insurance to Municipal Bond Investors Assurance Corporation
("MBIA") and the Mayor and all other officials and employees of the City are authorized
to take such further action and execute such documents and certificates as are necessary to
secure such insurance, including paying the costs and fees specified in such application and
in the Commitment for Municipal Bond Guaranty Insurance received from MBIA and dated
June 19, 1992. In addition, a copy of any notice required to be given by this Ordinance shall
also be given to MBIA at the following address unless a different address is hereafter
designated in writing to the Issuer:
Municipal Bond Investors
Assurance Corporation
113 King Street
Armonk, NY 10504.
Section 20. REMEDIES. Any owner or holder of any of the Certificates of
Obligation, in the event of default in connection with any covenant contained herein or
default in the payment of said Certificates of Obligation, or of any interest thereon, shall
have the right to institute mandamus proceedings against the Issuer or any other necessary
or appropriate party for the purpose of enforcing payment from the sources herein pledged
or for enforcing any covenant herein contained.
Section 21. EMERGENCY. That it is hereby officially found and determined that
a case of emergency or urgent public necessity exists which requires the holding of the
meeting at which this ordinance is passed, such emergency or urgent public necessity being
that the proceeds from the sale of the proposed Certificates are required as soon as possible
and without delay for necessary and urgently needed public improvements; and that said
meeting was open to the public, and public notice of the time, place and purpose of said
meeting was given, all as required by Vemon's Ann. Texas Civ. St. Article 6252-17.
Section 22. IMMEDIATE EFFECT. That this Ordinance shall be effective
immediately from and after its passage in accordance with the provisions of the Charter of
the Issuer, and it is accordingly so ordained.
20
Affidavit of PublicAd ation
THE STATE OF TEXAS
ORDINANCE NO.58-92
ORDINANCE WAIVING APPEN- COUNTY OF WICHITA
DIX A, SUBDIVISIONS SECTION
9(B)(2)(a)OF THE CODE OF
(I ORDINANCES WITH RESPECT TO ere)
PLACING CURB AND GUTTER
ON CITY VIEW DRIVE ADJA- 19 t h August
CENT TO THE WEST LINE OF LOT On this day Of
1,BLOCK 1,WATTS ADDITION
ORDINANCE NO.59-92
ORDINANCE WAIVING SEC- 1992
TION 27-29 OF THE CODE OF A.D. personally appeared before me, the undersigned authority
ORDINANCES WITH RESPECT TO
PLACING A SIDEWALK ALONG D a r i c e Ming
THE WEST LINE OF LOT 1,BLOCK bookkeeper
1,WATTS ADDITION
ORDINANCE No.60-92 for the Times Publishing Company of Wichita Falls, publishers of the Wichita Falls
ORDINANCE MAKING AN AP-
PROPRIATION IN THE GENERAL Times/Record News, a newspaper published at Wichita Falls in Wichita County,
FUND FOR ADDITIONAL GRANT
REVENUE FROM THE TEXAS DE- Texas, and upon being duly sworn by me, on oath states that the attached
PARTMENT OF HEALTH P g y
ORDINANCE NO.61-92
AN ORDINANCE CHANGING advertisement is a true and correct copy of advertising published
THE NAME OF SCOOTER DRIVE
TO AIR FORCE DRIVE AND in one ( 1) issues thereof on the following dates:
FURLONG STREET TO REYES
STREET; FINDING AND DE-
TERMINING THAT THE MEETING
AT WHICH THIS ORDINANCE U g u s t 199 1992
WAS PASSED WAS OPEN TO THE
PUBLIC AS REQUIRED BY LAW
ORDINANCE NO.62-92
AN ORDINANCES WAIVING THE � ti$ Sk
THREE HUNDRED FEET SEPAR-
ATION REQUIREMENT FROM A Bookkeeper for Times Publishing C
CHURCH, FOR AN ALCOHOLIC P g om any P
BEVERAGE PERMIT FOR OFF-
PREMISE CONSUMPTION, AT of Wichita Falls
811 NORTH EASTSIDE DRIVE,
WICHITA FALLS, TEXAS
ORDINANCE NO.63-92 AL) Subscribed and sworn to before me this the day and year first above written.
ORDINANCE AUTHORIZING THE
ISSUANCE OF CITY OF WICHITA
FALLS, TEXAS CERTIFICATES OF
OBLIGATION SERIES 1992 ) -,
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