Ord 2645 3/2/1971 N.
CERTIFICATE FOR
ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS
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THE STATE OF TEXAS
•
COUNTY OF WICHITA
•
CITY OF WICHITA FALLS
We, the undersigned officers of said City, hereby certify as
follows :
1. The Board of Aldermen of said City convened in
REGULAR MEETING ON THE 2ND DAY OF MARCH, 1971,
at the City Hall, and the roll was called of the duly constituted
officers and members of said Board of Aldermen, to-wit:
Wilma Thomas , City Clerk R. Kenneth Hill, Mayor
Donald H. Wills Harrison E. Taylor
Larry Lambert Richard R. Darner
3. C: Boyd Bill Drake
and all of said persons were present, except the following
absentees: 4,-__R ,
thus constituting a quorum. Whereupon, among other business,
the following was transacted at said Meeting: a written
ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS
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 prevailed
and carried by the following vote :
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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 2nd day of March, 1971.
'
City Clerk Mayor
(SEAL)
ORDINANCE NO. 14S
ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS
THE STATE OF TEXAS
COUNTY OF WICHITA •
CITY OF WICHITA FALLS •
WHEREAS , the bonds hereinafter authorized were lawfully
and favorably voted at an election duly held in said City on
SEPTEMBER 28 , 1967; and
WHEREAS , out of the bonds voted at said election, the fol-
lowing previously have been authorized, issued, and delivered:
$8 ,670 ,000 out of a voted $10 ,670 ,000 , represented by part of the
Series 1968 , and all the Series 1968-A and Series 1970 Bonds ; and
WHEREAS , the bonds hereinafter authorized and designated
were voted and are to be issued and delivered pursuant to Vernon 's
Articles 823 and 1175 , and the Home Rule Charter of said City .
THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN
OF THE CITY OF WICHITA, FALLS , TEXAS :
Section 1. That the said City's bonds are hereby au-
thorized to be issued in the aggregate principal amount of
$2,000 ,000 , FOR THE PURPOSE OF CONSTRUCTING AND IMPROVING
STREETS IN SAID CITY, AND PROVIDING DRAINAGE IN CONNECTION
THEREWITH.
Section 2 . That said bonds shall be designated as the :
"CITY OF WICHITA FALLS GENERAL OBLIGATION BONDS , SERIES
1971. "
Section 3 . That said bonds shall be dated FEBRUARY 15, 1971 ,
shall be in the denomination of $5 ,000 each, shall be numbered
consecutively from one upward, and shall mature serially on the
maturity date, in each of the years , and in the amounts , respec-
tively, as set forth in the following schedule :
MATUJRITY DATE: FEBRUARY 15
YEARS AMOUNTS
1976 $125 ,000
1977 125 ,000
1978 125 ,000
1979 125 ,000
1980 125 ,000
1981 125 ,000
1982 125 ,000
1983 125 ,000
1984 125 ,000
1985 125 ,000
1986 125 ,000
1987 125 ,000
1988 125 ,000
1989 125 ,000
1990 125 ,000
1991 125 ,000
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Section 4 . That the bonds scheduled to mature during the
years , respectively, set forth below shall bear interest at the
following rates per annum:
maturities 1976 through 1981 , Y, oo
maturities 199.2 through 19p , 'It. zs %
maturities 19.a through 19k, ,co %
maturities 1927 , 7v %
maturities 19 gg throu k 19 , ,t 75 %
maturities 19g1 t rou h 1-9- , go %
Said interest shall be evidenced ed � re' i h
e by interest coupons which shall.
appertain to said bonds , and which shall be payable in the manner
provided and on the dates stated in the FORM OF BOND set forth
in this Ordinance.
Section 5. That said bonds and interest coupons shall be
issued, shall be payable , may be redeemed prior to their schedul-
ed maturities , shall have the characteristics , and shall be sign-
ed and executed (and said bonds shall be sealed) , all as provided,
and in the manner indicated, in the FORM OF BOND set forth in this
Ordinance.
• Section 6 . That the form of said bonds , including 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
bonds , and the form of the aforesaid interest coupons which shall
appertain and be attached initially to each of said bonds , shall
be, respectively, substantially as follows :
FORM OF BOND :
NO. $5 ,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS
GENERAL OBLIGATION BOND
SERIES 1971
ON FEBRUARY 15 , 19
THE CITY OF WICHITA FALLS , in Wie- ita County, Texas ,
hereby- promises to pay to bearer hereof the principal amount of
FIVE THOUSAND DOLLARS
and to pay interest thereon, from date hereof , at the rate of %
per annum, evidenced by interest coupons payable FEBRUARY 15 , 1972 ,
and semi-annually thereafter while this bond is outstanding.
THE PRINCIPAL of this bond and the interest coupons apper-
taining 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 surrender of this bond or
proper interest coupon, at the following, which shall constitute
and be defined as the "Paying Agent"
y g for this Series of Bonds :
THE CHASE MANHATTAN BANK (NATIONAL ASSOCIATION) , NEW YORK, NEW YORK,
OR, AT THE OPTION OF THE BEARER, AT
CITY NATIONAL BANK IN WICHITA FALLS , WICHITA FALLS , TEXAS ,
THIS BOND is one of a Series dated as of FEBRUARY 15 , 1971 ,
authorized, issued, and delivered in the principal amount of
$2 ,000 ,000 FOR THE PURPOSE OF CONSTRUCTING AND IMPROVING STREETS
IN SAID CITY, AND PROVIDING DRAINAGE IN CONNECTION THEREWITH .
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ON FEBRUARY 15 , 1983 ,
or on any interest payment date thereafter , any outstanding bonds
of this Series may be redeemed prior to their scheduled maturi-
ties , at the option of said City, in whole , or in part, for the
principal amount thereof and accrued interest thereon to the date
fixed for redemption. At least thirty days prior to the date
fixed for any such redemption said City shall cause a written
notice of such redemption to be published at least once in a fi-
nancial publication published in the City of New York, New York.
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 bonds which are to be so redeemed and accrued in-
terest thereon to the date fixed for redemption. If such writ-
ten notice of redemption is published and if due provision for
such payment is made , all as provided above , the bonds which are
to be so redeemed thereby automatically shall be redeemed prior
to their scheduled maturities , and they shall not bear interest
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after the date fixed for redemption, and they shall not be re-
garded as being outstanding except 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
bond has been duly and validly voted, authorized, issued, and de-
livered; that all acts , conditions , and things required or proper
to be performed, exist, and be done precedent to or in the voting,
authorization, issuance , and delivery of this bond have been per-
formed, existed, and been done in accordance with law; that this
bond is a general obligation of said City, issued on the full
faith and credit thereof; and that annual ad valorem taxes suffi-
cient to provide for the payment of the interest on and principal
of this bond, as such interest comes due and such principal ma-
tures , have been levied and ordered to be levied against all tax-
able property in said City, and have been pledged irrevocably for
such payment, within the limit prescribed by law.
IN WITNESS WHEREOF, this bond and the interest coupons apper-
taining hereto have been signed with the facsimile signature of
the Mayor of said City and countersigned with the facsimile signa-
ture of the City Clerk of said City, and the official seal of
said City has been duly impressed, or placed in facsimile , on this
bond.
xxxxxxxx xxxxxxxx
City Clerk Mayor
FORM OF REGISTRATION CERTIFICATE:
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO.
I hereby certify that this bond has been examined, certi-
fied as to validity, and approved by the Attorney General of
the State of Texas , and that this bond 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 .
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•
FORM OF INTEREST COUPON:
NO. $
ON 15 , 19 ,
THE CITY OF WICHITA FALLS , in Wichita County , Texas ,
promises to pay to bearer the amount shown on this interest
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 bond to which this interest coupon appertains ,
upon presentation and surrender of this interest coupon, at
THE CHASE MANHATTAN BANK (NATIONAL ASSOCIATION) , NEW YORK, NEW YORK,
OR, AT THE OPTION OF THE BEARER, AT
CITY NATIONAL BANK IN WICHITA FALLS , WICHITA FALLS , TEXAS ,
said amount being interest coming due that day on the bond,
bearing the number hereinafter designated, of that issue of
CITY OF WICHITA FALLS GENERAL OBLIGATION BONDS , SERIES 1971,
DATED FEBRUARY 15 , 1971 .
Bond No.
xxxxxxxx xxxxxxxx
City Clerk Mayor
Section 7 . That a special "Interest and Sinking Fund" is
hereby created solely for the benefit of said bonds , 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 bonds . All ad
valorem taxes levied and collected for and on account of said
bonds shall be deposited, as collected, to the credit of said
Interest and Sinking Fund. During each year while any of said
bonds 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 suffi-
cient to raise and produce the money required to pay the interest
on said bonds as such interest comes due , and to provide and
maintain a sinking fund adequate to pay the principal of such
bonds as such principal matures (but never less than 2% of the
original principal amount of said bonds 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 de-
linquencies 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 bonds or interest coupons appertaining thereto
are outstanding and unpaid; and said tax shall be assessed and
collected each such year and deposited to the credit of the afore-
said Interest and Sinking Fund. Said ad valorem taxes sufficient
to provide for the payment of the interest on and principal of
said bonds , as such interest comes due and such principal matures ,
are hereby pledged irrevocably for such payment, within the limit
prescribed by law.
Section 8. That the Mayor of said City is hereby authorized
to have control of said bonds and all necessary records and pro-
ceedings pertaining to said bonds 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
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registration of said bonds , 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 bonds , and the seal of said
Comptroller shall be impressed, or placed in facsimile , on each
of said Bonds .
Section 9 . That said City hereby covenants that the .pro-
ceeds from the sale of said bonds will be used as soon as prac-
ticable for the purpose for which said bonds are issued; that
such proceeds will not be invested in any securities or obliga-
tions except for the temporary period pending such use ; and that
such proceeds will not be used directly or indirectly so as to
cause all or any part of said bonds to be or become "arbitrage
bonds" within the meaning of Section 103 (d) of the Internal
Revenue Code of 1954 , as amended, or any regulations or rulings
prescribed or made pursuant thereto.
Section 10 . That it is hereby officially found and deter-
mined: 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 bonds 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 Vernon's Ann.
Civ. St. Article 6252-17 .
Section 11. That the Board of Aldermen officially finds , de-
termines , and declares that said bonds have been duly advertised
for sale; that sealed bids have been received at a public sale
of said bonds ; that all of said bonds are hereby sold and shall
be de ivered to a syndicate managed or headed by 4L44`, being e best bidder
at said pub sale, for the principal amount of said bonds , and
accrued interest thereon to date of delivery, plus a premium of
$ 35 ). 0. .
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