Ord 3814 8/18/1981 't r
CERTIFICATE FOR
ORDINANCE AUTHORIZING THE ISSUANCE OF
CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS •
We, the undersigned officers of said City, hereby certi-
fy as follows :
1. The Board of Aldermen of said City convened in
REGULAR MEETING ON THE 18TH DAY OF AUGUST, 1981,
at the City Hall, and the roll was called of the duly consti-
tuted officers and members of said Board of Aldermen, to-wit:
Wilma J. Thomas, City Clerk Kenneth Hill, Mayor
Gene Shearman John W. Hampton, Jr., Mayor Pro Tem
Carol G. Russell Curtis W. Smith
James B. Thomas Horace O. Boston
and all of said persons were present, except the following
absentees :
thus constituting a quorum. Whereupon, among other business,
the following was transacted at said Meeting: a written
ORDINANCE AUTHORIZING THE ISSUANCE OF
CERTIFICATES OF OBLIGATION
was duly introduced for the consideration of said Board of
Aldermen 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 prevail-
ed and carried by the following vote:
YEAS: All members of said Board of Aldermen
shown present above voted "Yea" .
NAYS: None.
2. That a true, full and correct copy of the aforesaid Or-
dinance passed at the Meeting described in the above and forego-
ing paragraph is attached to and follows this Certificate; that
said Ordinance has been duly recorded in said Board of Alder-
men's minutes of said Meeting; that the above and foregoing para-
graph is a true, full and correct excerpt from said Board of
Aldermen' 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 Board of Aldermen as indicated therein; that each
of the officers and members of said Board of Aldermen 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 Mayor of said City has approved, and hereby
- approves , the aforesaid Ordinance; that the Mayor and the City
Clerk of said City have duly signed said Ordinance; and that the
Mayor and the City Clerk of said City hereby declare that their
signing of this Certificate shall constitute the signing of the
attached and following copy of said Ordinance for all purposes .
SIGNED AND SEALED the 18th day of August, 1981.
City C erk ,J Mayor
(SEAL)
ORDINANCE NO.if*
ORDINANCE AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS •
COUNTY OF WICHITA •
CITY OF WICHITA FALLS •
WHEREAS , Vernon' s Article 2368a. 1 permits the City to
issue and sell for cash the Certificates of Obligation here-
inafter authorized; and
WHEREAS, the City has duly caused notice of its intention
to issue the Certificates of Obligation hereinafter authorized
to be published at the times and in the manner required by
Vernon' s Article 2368a. 1, and no petition has been filed pro-
testing the issuance thereof.
THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF
THE CITY OF WICHITA FALLS , TEXAS:
Section 1. That the said City ' s Certificates of Obliga-
tion (hereinafter sometimes called "Certificates") are hereby
authorized to be issued in the aggregate principal amount of
$1, 315, 000, FOR THE PURPOSE OF PAYING ALL OR A PORTION OF THE
CITY' S CONTRACTUAL OBLIGATIONS INCURRED PURSUANT TO CONTRACTS
FOR THE CONSTRUCTION OF SOLID WASTE TRANSFER STATION IMPROVE-
MENTS, AND PAYING ALL OR A PORTION OF THE CONTRACTUAL OBLIGA-
TIONS FOR PROFESSIONAL SERVICES OF ENGINEERING, ARCHITECTS,
FINANCIAL ADVISORS, AND ATTORNEYS IN CONNECTION WITH SUCH IM-
PROVEMENTS AND CERTIFICATES OF OBLIGATION.
Section 2. That said Certificates shall be designated
as the: CITY OF WICHITA FALLS CERTIFICATES OF OBLIGATION,
SERIES 1981.
Section 3. That said Certificates shall be dated
SEPTEMBER 1, 1981, shall be in the denomination of $5 ,000 each,
shall be numbered consecutively from one upward, and shall ma-
ture on September 1, 1986 .
Section 4 . That said Certificates shall bear interest
to maturity or redemption as follows : from September 1, 1981,
to October 1, 1981, at the rate of 5% per annum; from October 1,
1981, to September 1, 1983 , at the rate of 10 . 92% per annum;
from September 1, 1983 , to March 1, 1984 , at the rate of 11.00%
per annum; from March 1, 1984 , to September 1, 1984, at the rate
of 11. 50% per annum; and from September 1, 1984 , to maturity
at the rate of 12% per annum. Said interest shall be evi-
denced by interest coupons which shall appertain to said
Certificates, and which shall be payable in the manner
provided and on the dates stated in the FORM OF CERTIFICATE
set forth in this Ordinance.
Section 5. That said Certificates and interest coupons
shall be issued, shall be payable, may be redeemed prior to
their scheduled maturity, shall have the characteristics ,
and shall be signed and executed (and said Certificates shall
be sealed) , all as provided, and in the manner indicated, in
the FORM OF CERTIFICATE set forth in this Ordinance.
Section 6. That the form of said Certificates , includ-
ing the form of Registration Certificate of the Comptroller
of Public Accounts of the State of Texas to be printed and
endorsed on each of said Certificates , and the form of the
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aforesaid interest coupons which shall appertain and be at-
tached initially to each of said Certificates , shall be, re-
spectively, substantially as follows :
FORM OF CERTIFICATE:
NO. $5 ,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS
CERTIFICATE OF OBLIGATION
SERIES 1981
ON SEPTEMBER 1, 1986, THE CITY OF WICHITA FALLS , in
Wichita County, Texas , hereby promises to pay to bearer the
principal amount of
FIVE THOUSAND DOLLARS
and to pay interest thereon to maturity or redemption as follows :
from September 1, 1981, to October 1, 1981, at the rate of 5%
per annum; from October 1, 1981, to September 1, 1983 , at the
rate of 10. 92% per annum; from September 1, 1983 , to March 1,
1984, at the rate of 11. 00% per annum; from March 1, 1984, to
September 1, 1984, at the rate of 11. 50% per annum; and from
September 1, 1984 , to maturity at the rate of 12% per annum,
evidenced by interest coupons payable SEPTEMBER 1, 1982 , and
semiannually thereafter while this Certificate is outstanding.
THE PRINCIPAL of this Certificate and the interest cou-
pons appertaining hereto shall be payable to bearer, in lawful
money of the United States of America, without exchange or
collection charges to the bearer, upon presentation and sur-
render of this Certificate or proper interest coupon, at the
following, which shall constitute and be defined as the "Pay-
ing Agent" for this Series of Certificates :
CITY NATIONAL BANK IN WICHITA FALLS ,
WICHITA FALLS , TEXAS .
THIS CERTIFICATE is one of a Series dated as of SEPTEMBER
1, 1981, authorized, issued, and delivered in the principal
amount of $1, 315, 000 FOR THE PURPOSE OF PAYING ALL OR A PORTION
OF THE CITY' S CONTRACTUAL OBLIGATIONS INCURRED PURSUANT TO CON-
TRACTS FOR THE CONSTRUCTION OF SOLID WASTE TRANSFER STATION IM-
PROVEMENTS, AND PAYING ALL OR A PORTION OF THE CONTRACTUAL
OBLIGATIONS FOR PROFESSIONAL SERVICES OF ENGINEERING, ARCHI-
TECTS, FINANCIAL ADVISORS , AND ATTORNEYS IN CONNECTION WITH
SUCH IMPROVEMENTS AND CERTIFICATES OF OBLIGATION.
THE OUTSTANDING CERTIFICATES of this Series may be re-
deemed prior to their scheduled maturity, at the option of
said City, in whole, or in part, on October 1, 1981, or on
any date thereafter, for the principal amount thereof and ac-
crued interest thereon to the date fixed for redemption. At
least ten (10) days prior to the date fixed for any such re-
demption said City shall cause a written notice of such re-
demption to be given to the "Paying Agent" . By the date
fixed for any such redemption due provision shall be made with
the "Paying Agent" for the payment of the principal amount of
the Certificates which are to be so redeemed and accrued in-
terest thereon to the date fixed for redemption. If such
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written notice of redemption is given, and if due provision
for such payment is made, all as provided above, the Certi-
ficates which are to be so redeemed thereby automatically
shall be redeemed prior to their scheduled maturities , and
they shall not bear interest after the date fixed for redemp-
tion, and they shall not be regarded as being outstanding ex-
cept for the right of the bearer to receive the redemption
price from the "Paying Agent" out of the funds provided for
such payment.
IT IS HEREBY certified, recited, and covenanted that this
Certificate 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
have been performed, existed, and been done in accordance with
law; that this Certificate is a general obligation of said City,
issued on the full faith and credit thereof; and that annual ad
valorem taxes sufficient to provide for the payment of the in-
terest on and principal of this Certificate, as such interest
comes due and such principal matures, have been levied and or-
dered to be levied against all taxable property in said City,
and have been pledged irrevocably for such payment, within the
limit prescribed by law; and that this Certificate is addition-
ally secured by and payable from the surplus revenues derived
by the City from the ownership and operation of the City' s
Waterworks and Sewer System remaining after payment of all
operation and maintenance expenses thereof, and all debt ser-
vice (Interest and Sinking Fund) and Reserve Fund, and other
requirements, payments , and deposits required in connection
with the City' s revenue bonds (now or hereafter outstanding)
which are payable from net revenues of the City ' s Waterworks .
and Sewer System.
IN WITNESS WHEREOF, this Certificate and the interest
coupons appertaining hereto have been signed with the facsimile
signature of the Mayor of said City and countersigned with the
facsimile signature of the City Clerk of said City, and the
official seal of said City has been duly impressed, or placed
in facsimile, on this Certificate.
xxxxxxxx _ xxxxxxxx
City Clerk Mayor
FORM OF REGISTRATION CERTIFICATE:
I hereby certify that this Certificate of Obligation has
been examined, certified as to validity, and approved by the
Attorney General of the Stare of Texas, and that thi4 Certifi-
cate of Obligation has been registered by the Comptroller
of Public Accounts of the State of Texas.
Witness my signature and seal this
xxxxxxxx
Comptroller of Public Accounts of
the State of Texas
FORM OF INTEREST COUPON:
NO. $
ON 1,
THE CITY OF WICHITA FALLS , in Wichita' County , Texas ,
promises to pay to bearer the amount shown on this interest
-3-
coupon, in lawful money of the United States of America, with-
out exchange or collection charges to the bearer, unless due
provision has been made for the redemption prior to scheduled
maturity of the Certificate to which this interest coupon ap-
pertains, upon presentation and surrender of this interest
coupon, at
CITY NATIONAL BANK IN WICHITA FALLS ,
WICHITA FALLS , TEXAS ,
said amount being interest coming due that day on the Certifi-
cate, bearing the number hereinafter designated, of that
issue of CITY OF WICHITA FALLS CERTIFICATES OF OBLIGATION,
SERIES 1981, DATED SEPTEMBER 1, 1981. Certificate No.
xxxxxxxx xxxxxxxx
City Clerk Mayor
Section 7. That a special "Interest and Sinking Fund"
is hereby created solely for the benefit of said Certificates ,
and said Interest and Sinking Fund shall be established and
maintained by said City at an official depository bank of said
City. Said Interest and Sinking Fund shall be kept separate
and apart from all other funds and accounts of said City, and
shall be used only for paying the interest on and principal of
said Certificates. All ad valorem taxes levied and collected
for and on account of said. Certificates shall be deposited, as
collected, to the credit of said Interest and Sinking Fund.
During each year while any of said Certificates or interest
coupons appertaining thereto are outstanding and unpaid, the
governing body of said City 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 said Cer-
tificates as such interest comes due, and to provide and main-
tain a sinking fund adequate to pay the principal of such Cer-
tificates as such principal matures (but never less than 2%
of the original principal amount of said Certificates as a
sinking fund each year) ; and said tax shall be based on the
latest approved tax rolls of said City, with full allowance
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 said City for each year while any of said Certificates or
interest coupons appertaining thereto are outstanding and un-
paid; 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 said Certifi-
cates, as such interest comes due and such principal matures,
are hereby pledged irrevocably for such payment, within the
limit prescribed by law.
Section 8. Said Certificates additionally shall be pay-
able from and secured by the surplus revenues derived by the
City from the ownership and operation of the City' s Waterworks
and Sewer System remaining after payment of all operation and
maintenance expenses thereof, and all debt service (Interest
and Sinking Fund) and Reserve Fund, and other requirements ,
payments, and deposits required in connection with the City ' s
revenue bonds (now or hereafter outstanding) which are payable
from the net revenues of the City 's Waterworks and Sewer System.
The City shall deposit such surplus revenues and the ad valorem
taxes levied pursuant to Section 7 hereof to the credit of the
Interest and Sinking Fund created pursuant to Section 7 in an
amount sufficient to pay the principal of and interest on the
-4-
Certificates herein authorized, and if surplus revenues are
actually on deposit in the Interest and Sinking Fund in ad-
vance of the time when ad valorem taxes are scheduled to be
levied for any year, then the amount of taxes which otherwise
would have been required to be levied pursuant to Section 7 may
be reduced to the extent and by the amount of the surplus rev-
enues then on deposit in the Interest and Sinking Fund.
Section 9 . That the Mayor of said City is hereby author-
ized to have control of said Certificates and all necessary
records and proceedings pertaining to said Certificates pend-
ing their delivery and their investigation, examination, and
approval by the Attorney General of the State of Texas, and
registration by the Comptroller of Public Accounts of the State
of Texas. Upon registration of said Certificates , said
Comptroller of Public Accounts (or a deputy designated in
writing to act for said Comptroller) shall manually sign the
Comptroller' s Registration Certificate printed and endorsed
on each of said Certificates, and the seal of said Comptroller
shall be impressed, or placed in facsimile, on each of said
Certificates.
Section 10. That the City covenants to and with the pur-
chaser of the Certificates that it will make no use of the pro-
ceeds of the Certificates at any time throughout the term of
this issue of Certificates which, if such use had been reason-
ably expected on the date of delivery of the Certificates to
and payment for the Certificates by the purchser, would have
caused the Certificates to be arbitrage bonds within the mean-
ing of Section 103 (c) of the Internal Revenue Code of 1944 ,
as amended, or any regulations or rulings pertaining thereto;
and by this covenant the City is obligated to comply with the
requirements of the aforesaid Section 103 (c) and all appli-
cable and pertinent Department of the Treasury regulations re-
lating to arbitrage bonds. The City further covenants that
the proceeds of the Certificates will not otherwise be used
directly or indirectly so as to cause all or any part of the
Certificates to be or become arbitrage bonds within the mean-
ing of the aforesaid Section 103 (c) , or any regulations or
rulings pertaining thereto.
Section 11. That it is hereby officially found and deter-
mined and declared: 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 said Certi-
ficates 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 re-
quired by Vernon' s Ann. Civ. St. Article 6252-17.
Section 12. That said Certificates are hereby sold and
shall be delivered to City National Bank in Wichita Falls ,
Texas, for cash for the par value thereof and accrued interest
to date of delivery, and any such accrued interest shall be
deposited into the Interest and Sinking Fund.
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r 1
•
Affidavit of Publication
THE STATE OF TEXAS
COUNTY OF WICHITA -
THE STATE OF TEXAS
(F COUNTY OF WICHITA ' e)
CITY OF WICHITA FALLS-
NOTICE OF INTENTION -
TO ISSUE CERTIFICATES OF 10th - _ August
OBLIGATION OF THE CITY On this day of
OF WICHITA FALLS, TEXAS, -
FOR SOLID WASTER TRANS- 1981
F E R STATION IMPROVE- A.D personally appeared before me,the undersigned authority
MENTS
THE CITY OF WICHITA
FALLS, in Wichita County,Tex- Willetta Cope - bookkeeper
as, hereby gives notice of inten-
tion to issue CITY OF WICHITA -FALLS CERTIFICATES OF
OBLIGATION in the maximum for the Times Publishing Company of Wichita Falls, publishers of the Wichita Falls
principal amount of $1,500,000,
for the purpose of paying all or a
portion of the City's contractual Record News, a newspaper published at Wichita Falls in Wichita County,Texas,and
obligations incurred pursuant to •
contracts for the construction of upon being duly by me,on oath states that the attached,advertisement is a true .
solid waste transfer station im- g y sworn y-
provements, and paying all or a two (2)
portion of the contractual obliga- and correct copy of advertising published in issues
Lions for professional services of
engineering, architects,a finan- thereof on the following dates: -
ciafadvisors, and attorneys in
connection with such improve-
ments and Certificates of Obli- q 9 gation.The City proposes to pro- August 2; 9 - 1981
vide for the payment of such
Certificates of Obligation from _ •
the levy and in the City as ad /'/ i
valorem taxes in the from the surpro-
vided by law,and from the sur- (((���IVV/ -01/-4-
plus revenues of the City's •
•
Waterworks and SewerSystem Bookkeeper for Times Publishing Company.
remaining after payment of all of Wichita Falls
' operation and maintenance ex- •
r.' penses thereof,and all debt ser-
vice(Interest and Sinking Fund) '
' and Reserve Fund, and other Subscribed and sworn to before me this the day and year first above written.
requirements, payments, and
,...._..,c) .
deposits required in connection
with the City's revenue bonds .
• (now or hereafter outstanding) e
which are payable from net re-
l' • venues of the City's Waterworks
-`1 and Sewer System.The Board of _
x,Aldermen of the City tentatively - '
proposes to authorize the is- PAT CHAMBERLAIN, -Notary Public •
suance of such Certificates of
Obligation at a meeting to be in and for Wichita County, Texan
held at 8:30 a.m.on the 18th day ,
of August,1981,in the City Hall,
Wichita Falls, Texas.
CITY OF WICHITA FALLS,
TEXAS
Thnmae
- et-4,(?` A ‘44".
•
Affidavit of Publication
THE STATE OF TEXAS
COUNTY OF WICHITA
(I ORDINANCE NO. 3814 e)
% ORDINANCE AUTHORIZING
THE ISSUANCE OF August •
CERTIFICATES OF - 25th LI
OBLIGATION. On this - day of
1981
A.D personally appeared before me,the undersigned authority
Willetta Cope bookkeeper
for the Times Publishing Company of Wichita Falls, publishers of the Wichita Falls
Record News, a newspaper published at Wichita Falls in Wichita County,Texas,and
upon being duly sworn by me,on oath states that the attached,advertisement is a true
one (1)
and correct copy of advertising published in issues
thereof on the following dates:
August 25, 1881
--(111.ddit) 0°X-e
Bookkeeper for Times Publishing Company
of Wichita Falls
Subscribed and sworn to before me this the day and year first above_written.
(SEAL)
tr•
,„
Roy Rimy . • .0.,
* ROY t.REAVES
May iIicc.Stets of Texas
14/Commission Eipires Nov.30,19-1.
x'44 pj It**. 3..S.44642-2662