Ord 2459 10/29/1968 7
CERTIF1.CA.L r FOR
ORDINANCE AUIHO 1Z:INC TH1] ISSUANCE OF GENERAL OBLIGATION BONDS
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
SPECIAL MEETING ON THE 29TH DAY OF OCTOBER, 1968,
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 Kenneth Hill, Mayor
Donald H. Wills Richard R. Darner
Harrison E . Taylor Max Kruger -
James M. Davis Cletus C. Schenk
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 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, carry-
ing with it the passage of said Ordinance prevailed 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 foregoing
paragraph is attached to and follows this Certificate; that said
Ordinance has been duly recorded in said Board of Aldermen' s minutes
of said Meeting; that the above and foregoing paragraph 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 offi-
cially and personally in advance, of the time, place andpurpose of
the aforesaid Meeting, and that said Ordinance would be introduced
and considered for passage at said Meeting, and each of said offi-
cers and members consented, in advance, to the holding of said Meet-
ing for such purpose; and thatsaid Meeting was open to the public
as required by law.
3. That the Mayor of said City has approved, and hereby ap-
proves, 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 29th day of October, 1968.
•
City Clerk Mayor
(SEAL)
ORDINANCE NO -N a
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 duly and
favorably voted at an election held in said City on the 28th day of
. September, 1967; and
WHEREAS, out of the bonds voted at said election, the
following previously have been issued and delivered:
$2,235,000 out of a voted total of $10,670,000,
voted for the purpose of constructing
and improving streets in said City, and
providing drainage in connection there-
with, represented by part of the bonds
of Series 1968; and
WHEREAS, the bonds hereinafter authorized 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 said City ' s bonds to be designated the
"CITY OF WICHITA FALLS GENERAL OBLIGATION BONDS, SERIES 1968-A, "
are hereby authorized to be issued and delivered in the principal
amount of $4,435 ,000, FOR THE PURPOSE OF CONSTRUCTING AND IMPROVING
STREETS IN SAID CITY, AND PROVIDING DRAINAGE IN CONNECTION THERE-
WITH.
Section 2 . That said bonds shall be dated DECEMBER 1,
1968, shall be in the denomination of $5,000 EACH, shall be number-
ed consecutively from 1 THROUGH 887, and shall mature serially on
JUNE 1 in each of the years, and in the amounts, respectively, as
set forth in the following schedule:
YEARS AMOUNTS YEARS AMOUNTS
1971 $ 85,000 1981 $250,000
1972 150, 000 1982 250, 000
1973 225 ,000 1983 250,000
1974 225,000 1984 250,000
1975 250,000 1985 250,000
1976 250,000 1986 250,000
1977 250,000 1987 250,000
1978 250,000 1988 250, 000
1979 250,000 1989 250,000
1980 250,000
-1-
Said bonds may be redeemed prior to their scheduled maturities, at the option
of said City, on the dates stated, and in the manner provided, in the FORM OF
BOND set forth in this Ordinance.
Section 3. That the bonds scheduled to mature during the years,
respectively, set forth below shall bear interest from their date, until
maturity or redemption, at the following rates per annum:
maturities 1971 through 1976 5 %
maturities 1977 through 1979 4 1/2%
maturities 1980 through 19- 4.10 %
maturities 1981 through 19- 4.20 %
maturities 1982 through 19- 4.25 %
maturities 1983 through 19- 4.30 %
maturities 1984 through 19- 4.35 %
maturities 1985 through 19- 4.40 %
maturities 1986 through 19- 4.50 %
maturities 1987. through 19- 4.55 %
maturities 1988 through 19- 4.60 %
maturities 1989 through 19- 3.50 %
Said interest shall be evidenced by interest coupons which shall appertain to
said bonds, and which shall be payable on the dates stated in the FORM OF BOND
set forth in this Ordinance.
Section 4. That said bonds and interest coupons shall be payable,
shall have the characteristics, and shall be signed 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 5. 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 1968-A
ON JUNE 1, 19 , the CITY OF WICHITA FALLS in the County of
Wichita, State of Texas, promises to pay to bearer the principal amount of
FIVE THOUSAND DOLLARS
and to pay interest thereon, from the date hereof, at the rate of % per
annum, evidenced by interest coupons payable DECEMBER 1, 1969, and—MT-annually
thereafter on each JUNE 1 and DECEMBER 1 while this bond is outstanding. The
principal of this bond and the interest coupons 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 surrender
of this bond or proper interest coupon, at THE CHASE MANHATTAN BANK, NEW YORK,
NEW YORK, or, at the option of the bearer, at the CITY NATIONAL BANK IN WICHITA
FALLS, WICHITA FALLS, TEXAS, which places shall be the paying agents for this
Series of bonds.
-2-
THIS BOND is one of a Series of bonds dated DECEMBER. 1,
1968, issued in the principal amount of $4,435 ,000 FOR THE PURPOSE
OF CONSTRUCTING AND IMPROVING STREETS IN SAID CITY, AND PROVIDING
DRAINAGE IN. CONNECTION THEREWITH.
ON JUNE 1, 1980, OR ON ANY INTEREST PAYMENT DATE THERE-
AFTER, any outstanding bonds of this Series may be redeemed prior
to their scheduled maturities, 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 financial 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 agents for the payment of the prin-
cipal amount of the bonds which are to be so redeemed and accrued
interest thereon to the date fixed for redemption. If such written.
notice of redemption is published and if due provision for such pay-
ment 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 after the
date fixed for redemption, and they shall not be regarded as being
outstanding except for the purpose of being paid by the paying
agents with the funds so provided for such payment.
IT IS HEREBY certified, recited, and covenanted that this
bond has been duly and validly issued and delivered; that all acts ,
conditions, and things required or proper to be performed, exist,
and be done precedent to or in the issuance and delivery of this
bond have been performed, 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
sufficient to provide for the payment of the interest on and princi-
pal of this bond, as such interest comes due and such principal
matures , 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
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
bond.
xxxxxx xxxxxx
City Clerk, City of Wichita Falls Mayor, City of Wichita Falls
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
-3-
•
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, 19
THE CITY OF WICHITA FALLS, in the County of Wichita, State of Texas ,
promises to pay to bearer the amount shown on this interest coupon,
in lawful money of the United States of America, without exchange
or collection charges to the bearer, unless due provision has been
made for the redemption prior to maturity of the bond to which this
interest coupon appertains, upon presentation and surrender of this
interest coupon, at THE CHASE MANHATTAN BANK, NEW YORK, NEW YORK,
or, at the option of the bearer, at the CITY NATIONAL BANK IN
WICHITA FALLS, WICHITA FALLS, TEXAS, said amount being interest
due that day on the bond, bearing the number hereinafter designated,
of that issue of CITY OF WICHITA FALLS GENERAL OBLIGATION BONDS,
SERIES 1968-A, DATED DECEMBER 1, 1968. Bond No.
_ xxxxxx
City Clerk o Mayor
Section 6. That a special fund or account, to be desig-
nated the "City of Wichita Falls General Obligation Bonds , Series
1968-A, Interest and Sinking Fund," is hereby created and 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 out-
standing and unpaid, the City Council 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 in-
terest 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 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 tax-
able 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 de-
posited to the credit of the aforesaid Interest and Sinking Fund.
-4-
f .
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 7 . That the Mayor of said City is hereby authoriz-
ed 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 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 8. That the Board of Aldermen officially finds ,
determines , 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-
livered to a syndicate managed or headed byl) e2 k)64-/o r.4_
� �-, being the b st bidder at said
public sale, for the principal amount of said bonds, and accrued
interest thereon to the date of delivery, plus a premium of $ i voo,0C) .
•
•
-5-