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Res 46 12/12/1949c&ete-A-41_- 91- /2-c/7 A1de-man Brown presented for the consideration of the Board ofUri€irmen an ordinance. The ordinance was read in full by the City Clerk. ORDINANCE NO. 1508 Moved by Alderman Brown that Ordinance No. 1508 be approved and passed as read on its first reading. Motion seconded by Alderman Abbott and carried by the following vote: k YEAS: Aldermen Abbott, Ray, Thomas, Brown, Parish and Hunter and Mayor, Jones. NAYS: None. ORDINANCE NO. 1508 Moved by Alderman Ray that the rule requiring that ordinances be read on three separate days be and is hereby suspended, and declaring an emergency. Motion seconded by Alderman Hunter and carried by the following vote: YEAS: Aldermen Abbott, Ray, Thomas, Brown, Parish and Hunter and Mayor Jones. NAYS: None. ORDINANCE NO. 1508 Moved by Alderman Thomas that Ordinance No. 1508 be approved and passed as read on its second reading. Motion seconded by Alderman Abbott and carried by the following vote: YEAS: Aldermen Abbott, Ray, Thomas, Brown, Parish and Hunter and Mayor Jones. NAYS: None. li ORDINANCE NO.1508 Moved by Alderman Brown that Ordinance No. 1508 be approved and passed as read on its third and final reading, and declaring an emergency. Motion seconded by Alderman Parish and carried by the following vote: YEAS: Aldermen Abbott, Ray, Thomas, Brown, Parish and Hunter and Mayor Jones. NAYS: None. ORDINANCE NO. 1508 BY THE BOARD OF ALDD' D OF THE CITY OF WICHITA FALLS, TEXAS, PROVIDING FOR THE ISSUANCE OF CITY OF WICHITA FALLS, TEXAS, WATERWORKS BONDS, SERIES 1949, IN THE AGGREGATE AMOUNT OF $1,250,000.00; CITY OF WICHITA FALLS, TEXAS, STREET IMPROVEMENT BONDS, SERIES 1949, IN THE AGGREGATE AMOUNT OF $800,000.00; CITY OF WICHITA FALLS, TEXAS, PARK BONDS, SERIES 1949, IN THE AGGRE- GATE AMOUNT OF $200,000.00 AND CITY OF WICHITA FALLS, TEXAS, FIRE STATION BONDS, SERIES 1949, IN THE AGGRE- GATE AMOUNT OF $100,000.00, BEARING INTEREST AT THE RATES HEREINAFTER SET FORTH, AND PROVIDING FOR THE LEVY, ASSESSMENT AND COLLECTION OF A TAX SUFFICIENT TO PAY THE INTEREST OF SAID BONDS AND TO CREATE A SINKING FUND FOR THE REDEMPTION THEREDF AT MATURITY, PRESCRIBING THE FORM OF BONDS AND DECLARING AN EMERGENCY. WHEREAS, heretofore on the 14th day of November, 1949,the Board of Aldermen of the City of Wichita Falls, Texas, adopted a resolution callins an election to be held in the City of Wichita F ,laiTexas, y.y, 6th T ,...q. Ft e1e+x6as, on he 6th d oLDeognabo#" `lltk:51. nn the! f11 ri,swi nn i 726 PROPOSITION NO. 1 Shall the Board of Aldermen of the City of Wichita Falls, Texas, be authorized to issue the bonds of said City in the amount of $1,250,000.00, maturing serially in such in- stallments as may be fixed by the Board of Aldermen, the maxi- mum maturity date being not more than Twenty Five (25) years from their date, and bearing interest at a rate not to exceed Three and one-half (3z%) per cent per annum, payable annually or semi-annually, and to levy a tax sufficient to pay inter- est as it accrues and principal as it matures on said issue of bonds, for the purpose of constructing, repairing, improv- ing and extending the water works of said City, as authorized by the Constitution and laws of the State of Texas." PROPOSITION NO. 2 Shall the Board of Aldermen of the City of Wichita Falls, Texas, be authorized to issue the bonds of said City in the amount of x°:00,000.00, maturing serially in such in- stallments as may be fixed by the Board of Aldermen, the maxi- mum maturity date being not more than Twenty Five (25) years from their date, and bearing interest at a rate not to exceed Three and one-half (32%) per cent per annum, payable annually or semi-annually, and to levy a tax sufficient to pay inter- est as it accrues and principal as it matures on said issue of bonds, for the purpose of constructing permanent street improvements within said City, as authorized by the Consti- tution and laws of the State of Texas." PROPOSITION NO. 3 Shall the Board of Aldermen of the City of Wichita Falls, Texas, be authorized to issue the bonds of said City in the amount of $200,000.00, maturing serially in such in- stallments as maybe fixed by the Board of Aldermen, the maxi- mum maturity date being not more than Twenty Five (25) years , from their date, and bearing interest at a rate not to exceed Three and one-half (3i%) per cent per annum, payable annually or semi-annually, and to levy a tax sufficient to pay inter- est as it accrues and principal as it matures on said issue of bonds, for the purpose of improving lands for park purposes, as authorized by the Constitution and laws of the State of Texas." PROPOSITION NO. 4 Shall the Board of Aldermen of the City of Wichita Falls, Texas, be authorized to issue the bonds of said City in the amount of $100,000.00, maturing serially in such in- stallments as may be fixed by the Board of Aldermen, the maxi- mum maturity date being not more than Twenty Five (25) years from their date, and bearing interest at a rate not to exceed, Three and one-half (31%) per cent per annum, payable annually or semi.-annually, and to levy a tax sufficient to pay inter- est as it accrues and principal as it matures on said issue of bonds, for the purpose of constructing, repairing and im- preying fire stations within said City, as authorized by the Constitution and laws of the State of Texas." and WHEREAS, said election was duly and legally held in the City of Wichita Falls, Texas, on the 6th day of December, 1949, at which election a majority of the legally qualified electors,, owning taxable property in said City and who had duly rendered the same for taxation, voting at said election, sustained the propositions to issue the bonds hereinafter described by the following vote: PROPOSITION NO. 1 FOR THE ISSUANCE OF WATERWORKS BONDS" 3671 Votes; AGAINST THE ISSUANCE OF WATERWORKS BONDS" 1000 Votes. PROPOSITION NO. 2 FOR THE ISSUANCE OF STREET IMPROVEMENT BONDS" 3583 Votes; AGAINST THE ISSUANCE OF STREET IMPROVEMENT BONDS"1058 Votes. PROPOSITION vNO. FOR THE ISSUANCE OF PARK BONDS"3440 Votes; AGAINST THE ISSUANCE OF PARK BONDS" 1213 Votes. PROPOSITION NO. 4 FOR THE ISSUANCE OF FIRE STATION BONDS" 3706 Votes; AGAINST THE ISSUANCE OF FIRE STATION BONDS" 959 Votes, as is reflected in the election returns heretofore filed with the City Clerk; BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS: PERTAINING TO THE WATERWORKS BONDS 1. That the bonds of said City to be called "City of Wichita Falls, Texas, Waterworks Bonds, Series 1949", be issued under and by virtue of the Constitution and laws of the State of Texas, and the Charter of said City, for the purpose of constructing, repairing, improving and extending the water works of said City, in the principal sum of One Million Two Hurd red Fifty Thousand ($1,250,000.00) Dollars. 2. That said bonds shall be numbered from One (1) to One Thousand Two Hundred Fifty (1,250), both inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating One Million Two Hundred Fifty Thousand ($1,250,00) Dollars. 3. That said bonds shall be dated December 1, 1949, and shall become due and payable serially as follows: BONDS NUMBERS MATURITY DATES AMOUNTS 1 to 21, both incl., December 1, 1950, 21,000.00 22 to 35, " December 1, 1951, 14,000.00 36 to 67, " December 1, 1952, 32,000.00 68 to 101, " December 1, 1953, 34,000.00 102 to 137, " " December 1, 1954, 36,000.00 138 to 171, " December 1, 1955, 34,000.00 172 to 203, " December 1, 1956,32,000.00 204 to 237, " December 1, 1957, 34,000.00 238 to 273, " December 1, 1958, 36,000.00 274 to 311, " December 1, 1959,38,000.00 312 to 338, " December 1, 1960, 27,000.00 339 to 373, " December 1, 1961, 35,000.00 374 to 409, " December 1, 1962, 36,000.00 410 to 447, " December 1, 1963, 38,000.00 448 to 482, " December 1, 1964, 35,000.00 483 to 514, " December 1, 1965,32,000.00 515 to 552, " December 1, 1966,38,000.00 553 to 593, 11 December 1, 1967, 41,000.00 594 to 629, " December 1, 1968, 36,000.00 630 to 667, if December 1, 1969, 38,000.00 668 to 777, " December 1, 1970, 110,000.00 778 to 890, " December 1, 1971, 113,000.00 891 to 1005, i December 1, 1972, 115,000.00 1006 to 1126, " it December 1, 1973, 121,000.00 1127 to 1250, ", "" December 1, 1974, 124,000.00 4. That said bonds shall bear interest at the rates as follows: Bonds Nos. 1 to 409, both incl., _ 32% per annum; Bonds Nos. 410 to 1250, " " . 2-3/4% per annum, payable December 1, 1950., and semi-annually thereafter on June 1st and December 1st of each year. 5. In Bonds Numbers Four Hundred Eighty Three (483) to One Thousand Two Hundred Fifty (1,250), both inclusive, the City shall reserve. the option of calling each such bond for redemption prior to maturity at par and accrued interest, on any interest payment date on and after December 1, 1964, by giving thirty (30) days' notice in writing to the place of payment and by publication of such notice in a financial publication having general cir- culation in New York City. Said notice shall appear in said publication in at least one issue, the date of said issue being not less than thirty days prior to the date so fixed for redemption. If any such bond is called for redemption in said manner and funds sufficient to pay the principal and accrued interest I thereon shall have been duly placed in the place of payment and it shall not L _. be tresented for payment it sha l not thereafter bear interest. 728 6. The form of said bonds shall be substantially as follows: NO..._ w 1,000.00 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF WICHITA CITY OF WICHITA FALLS WATERWORKS BOND SERIES 1949 The City of Wichita Falls, in the County of Wichita, State of Texas, a municipal corporation duly incorporated under the laws of the State of Texas, for value received, hereby promises to pay to the bearer hereof onthe1stdayofDecember, 19 • , the sum of ONE THOUSAND DOLLARS in lawful money of the United States of America, with interest thereon fromdatehereofattherateof (14) per cent per annum, interest payable December1, 1950, and semi-annually thereafter on the 1st day of June and the 1st dayofDecemberofeachyear, both principal and interest payable upon presentation and surrender of bond or proper coupon at the Chase National Bank, New York, New York, or, at the option of the holder, at the Mercantile National Bank atDallas, Dallas, Texas, and the City of Wichita Falls, Texas, is hereby held and firmly bound and its faith and credit and all taxable property in s aid City are hereby pledged for the prompt payment of the principal .of this bond at maturity and the interest thereon as it accrues. This bond is one of a series of One Thousand Two Hundred Fifty (1,250) bonds of like tenor and effect, except as to number, interest rate, maturity and right of prior redemption, numbered from One (1) to One Thousand Two Hundred Fifty (1,250), both inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating One Million Two Hundred Fifty Thousand ($1,250,000.00) Dollars, issued for the purpose of construct- ing, repairing, improving and extending the water works of said City, under and by virtue of the Constitution and laws of the State of Texas, the Charter of said City, and pursuant to an ordinance passed by the Board of Aldermen of said City of Wichita Falls, Texas, which ordinance is duly of record in the minutes of said Board of Aldermen. The City reserves the right to redeem this bond prior to maturity on any interest payment date on and after December 1, 1964, at par and accrued interest to date fixed for payment, provided thirty (30) days' notice in writing is given to the place of payment, and by publication of such notice in a financial publication having general circulation in New , York City. Said notice shall appear in said publication in. at least one issue, the date of said issue being not less than Thirty (30) days prior to the date so fixed for redemption. If this bond is called for payment in said manner and money is placed in said place of payment prior to the date so fixed for redemption sufficient to pay the principal and interest to said date and this bond is not so presented for payment, it shall not thereafter bear in- terest.) The date of this bond in conformity with the ordinance above mentioned is December 1, 1949. AND IT IS HEREBY CERTIFIED AND RECITED that the issuance of this bond, and the series of which it is a part, is duly authorized by law and by a vote of the resident, qualified electors who own taxable property in said City and who had duly rendered the same for taxation in the City of Wichita.Falls, Texas, voting at an election held for that purpose within said City on.the 6th day of December, 1949; that a1) acts, conditions and things required to be done precedent to and in the issuance of this series of bonds, and of this bond, have been properly done and performed and have happened in regular and due time, form and manner as required by law; that sufficient and proper provision for the levy and collection of taxes has been made, which, when collected shall be appropriated exclusively to the payment of this bond, and of the series of which it is a part, and to the payment of the interest coupons hereto annexed as the same shall become due; and that the total in- debtedness of said City of Wichita Falls, Texas, including the entire series 1 of bonds of which this is one, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the City of Wichita Falls, Tex•.sd`'by its 3oard of Aldermen has caused it coraJoratF: seal to be affixed he:v eo, 'an, aes :bone to be f.t.ed by ,ehe Mayor dee countersigned by the City Cleee e ir':.eeeeet cc,„ledas 'aerate a- tache4 'eo be executed by the "l:i.thogrca°p ee i nat s. ',' of t °.2," j d 01er4.a th s-`of .e 4' Jecnher, 1949. Mayor, City of Wichita Falls, Tex COUNTERSIGNED: City Clerk, City of Wichita Falls, Texas. Bonds Nos. 1 to 409, both incl., 32% per annum; Bonds Nos. 410 to 1250, " 1° 2-3/4% per annum.) This paragraph should be omitted from Bonds Numbers 1 to 482, both incl.) 7. The form of coupon shall be substantially as follows: NO. ON THE 1st DAY OF 219 The City of Wichita Falls, Texas, will pay to bearer, unless the bond to which this coupon is attached shall have been called for previous redemption as therein provided and provision for the redemption thereof made), at the Chase National Bank, New York, New York, or, at the option of the holder, at the Mercantile National Bank at Dallas, Dallas, Texas, the sum of Dollars, in lawful money of the United States of America, being months' interest due that day on "City of Wichita Falls, Texas, Waterworks Bond, Series 1949" dated December 1, 1949, No. City Clerk Mayor This parenthetical expression should be printed only in coupons maturing June 1, 1965, and subsequent). PERTAINING TO THE STREET IMPROVEMENT BONDS 8. That the bonds of said City to be called "City of Wichita Falls, Texas, Street Improvement Bonds, Series 1949", be issued under and by virtue of the Constitution and laws of the State of Texas, and the Charter of said City, for the purpose of constructing permanent street im- provements within said City, in the principal sum of Eight Hundred Thousand 500,000.00) Dollars. 9. That said bonds shall be nuObered from One (1) to Bight Hundred (800), both inclusive, shall be of the denomination of One Thousand 01,000.00) Dollars each, aggregating Eight Hundred Thousand 800,000.00) Dollars. 10. That said bonds shall be dated December 1, 1949, and shall become due and payable serially as follows: BONDS NUMBERS MATURITY DATES. AMOUNTS 1 to 11, both incl., December 1, 1950, 11,000.00 12 to 19, " December 1, 1951, 8,000.00 20 to 36, " December 1, 1952, 17,000.00 37 to 55, " It December 1, 1953,19,000.00 56 to 76, " it December 1, 1954, 21,000.00 77 to 95, " December 1, 1955, 19,000.00 96 to 112, " December 1, 1956,17,000.00 113 to 131, " December 1, 1957, 19,000.00 132 to 151, " December 1, 1958, 20,000.00 152 to 173, " December 1, 1959, 22,000.00 174 to 189, " December 1, 1960, 16,000.00 190 to 207, " ," December 1, 1961, 18,000.00 208 to 227, if it December 1, 1962, 20,000.00 228 to 249, " It December 1, 1963, 22,000.00 250 to 267, " December 1, 1964, 18,000.00 268 to 284, " it December 1, 1965, 17,000.00 285 to 306, " December 1, 1966, 22,000.00 307 to 329, " December 1, 1967, 23,000.00 330 to 359, " It December 1, 1968, 30,000.00 360 to 396, n December 1, 1969,37,000.00 397 to 473, " December 1, 1970, 77,000.00 474 to 552, " December 1, 1971,79,000.00 553 to 632, " It December 1, 1972, 80,000.00 633 to 715, " December 1, 1973, 83,000.00 716 to 800, " December 1, 1974, 85,000.00 730 11. That said bonds, shall bear interest at the rates as follows: Bonds Nos. 1 to 227, both incl., 32% per annum; Bonds Nos. 228 to 800, a tt 2-3/4% per annum, payable December 1, 1950, and semi-annually thereafter on June 1st and December 1st of each year. 12. In Bonds Numbers Two Hundred Sixty Eight (268) to Eight Hundred (800), both inclusive, the City shall reserve the option of calling each such bond for redemption prior to maturity at par and accrued interest, on any interest payment date on and after December 1, 1964, by giving thirty (30) days' notice in writing to the place of payment and by publication of such notice in a financial publication having general cir- culation in New York City. Said notice shall appear in said publication in at least one issue, the date of said issue being not less than thirty days prior to the date so fixed for redemption. If any such bond is called for redemption in said manner and funds sufficient to pay the principal and accrued interest thereon shall have been duly placed in the place of payment and it shall not be presented for payment it shall not thereafter bear inter- est. 13. The form of said bonds shall be substantially as follows: NO. 1,000.00 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF WICHITA CITY OF WICHITA FALLS STREET IMPROVEMENT BOND SERIES 1949 The City of Wichita Falls, in the County of Wichita, State of Texas, a municipal corporation duly incorporated under the laws of the State of Texas, for value received, hereby promises to pay to the bearer here- of on the 1st day of December, 19 the sum of ONE THOUSAND DOLLARS in lawful money of the United States of America, with interest thereon from date hereof at the rate of (*%) per cent per annum, interest payable December 1, 1950, and semi-annually thereafter on the 1st day of June and the 1st day of December of each year, both principal and interest payable upon presentation and surrender of bond or proper coupon at the Chase National Bank, New York, New York, or, at the option of the holder, at the Mercantile National Bank at Dallas, Dallas, Texas, and the City of Wichita Falls, Texas, is hereby held and firmly bound and its faith and credit and all taxable property in s aid City are hereby pledged for the prompt payment of the principal of this bond at maturity and the interest thereon as it accrues. This bond is one of a series of Eight Hundred (800) bonds of like tenor and effect, except as to number, interest rate, maturity and right of prior redemption, numbered from One (1) to Eight Hundred (800), both inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating Eight Hundred Thousand 0800,000.00) Dollars, issued for the purpose of constructing permanent street improvements within said City, under and by virtue of the Constitution and laws of the State of Texas, the Charter of said City, and pursuant to an ordinance passed by the Board of Aldermen of said City of Wichita Falls, Texas, which ordinance is duly of record in the minutes of said Board of Aldermen. The City reserves the right to redeem this bond prior to maturity on any interest payment date on and after December 1, 1964, at par and accrued interest to date fixed for payment, provided thirty (30) days' notice in writing is given to the place of payment, and by publication of such notice in a financial publication having general circulation in New York City. Said notice shall appear in said publication in at least one issue, the date of said issue being not less than Whirty (30) days prior to the date so fixed for redemption. If this bond is called for payment ins aid manner and money is placed in said place of payment prior to the date so fixed for redemption sufficient to pay the principal and interest to said date and this bond is not so presented for payment, it shall not thereafter bear in- terest.) The date of this bond in conformity with the ordinance aeova ;aartioned is December 1, 1949. 731 AND IT IS HEREBY CERTIFIED AND RECITED that the issuance. of this bond, and the series of which it is a part,, is duly authorized by law and by a vote of the resident, qualified electors who own taxable property in said City and who had duly rendered the same for taxation in the City of Wichita Falls, Texas s voting at an election held for that purpose within said City on the 6th day of December, 1949; that all acts, conditions and things required to be done precedent to and in the issuance of this series of bonds, and of this bond, have been properly done and performed and have happened in regular and due time, form and manner as required by law; that sufficient and proper provision for the levy and collection of taxes has been made, which, when collected shall be appropriated exclusively to the payment of this bond, and of the series of which it is a part, and to the payment of the interest coupons hereto annexed as the same shall become due; and that the total in- debtedness of said City of Wichita Falls, Texas, including the entire series of bonds of which this is one, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the City of Wichita Falls, Texas, by its Board of Aldermen has caused its corporate seal to be affixed hereto, end this bond to be signed by the Mayor and countersigned by the City Clerk and the interest coupons hereto attached to be executed by the lithographed or printed facsimile signatures of the Mayor and City Clerk as of the let day of December, 1949. Mayor, City of Wichita Falls, Texas COUNTERSIGNED: City Clerk, City of Wichita Falls, Texas. Bonds Nos. 1 to 227, both incl., 32% per annum; Bonds Nos. 228 to 500, " 2-3/4% per annum). This paragraph should be omitted from Bonds Number 1 to 267, both inclusive). 14. The form of coupon shall be substantially as follows: NO. ON THE 1ST DAY OF 19_,___ The City of Wichita Falls, Texas, will pay to bearer, unless the bond to which this coupon is attached shall have been called for previous redemption as therein provided and provision for the redemption thereof made), at the Chase National Bank, New York, New York, or, at the option of the holder, at the Mercantile National. Bank at Dallas, Dallas, Texas, the sum of Dollars, in lawful money of the United States of America, being months' interest due that day on "City of Wichita Falls, Texas, Street Improvement Bond, Series 1949", dated December 1, 1949, N&. City Clerk Mayor This parenthetical expression should be printed only in coupons maturing June 1, 1965, and subsequent). PERTAINING TD THE PARK BONDS 15. That the bonds of said City to be called ',City of Wichita Falls, Texas, Park Bonds, Series 1949", be issued under and by virtue of the Constitution and laws of the State of Texas, and the Charter of said City, for the purpose of improving lands for park purposes, in the principal sum of Two Hundred Thousand ($200,000.00) Dollars. 16. That said bonds shall be numbered from One (1) to Two Hundred (200), both inclusive, shall be of the denomination of One Thousand 1,000.00) Dollars each, aggregating Two Hundred Thousand (1200,000.00) Dollars. 17. That said bonds shall be dated December 1, 1949, and sh, 1.1 become due and payable serially as follows: 732 BONDS NUMBERS MATURITY DATES AMOUNTS T. --Z December 1, 1950, 2,000.00 3 - 4 December 1, 1951, 2,000.00 5 to 8, both incl., December 1, 1952, 4,000.00 9 to 13, " 11 December 1, 1953, 5,000.00 14 to 19, " 91 December 1, 1954,6,000.00 20 to .24, " " December 1, 1955, 5,000.00 25 to 28, " n December 1, 1956, 4,000.00 29 to 33, " " December 1, 1957, 5,000.00 34 to 39, " " December 1, 1958, 6,000.00 40 to 45, " " 9 December 1, 1959,6,000.00 46 to 50, " " December 1, 1960, 5,000.00 51 to 55, " " December 1, 1961, 5,000.00 56 to 61, " " December 1, 1962, 6,000.00 62 to 67, " " December 1, 1963, 6,000.00 68 to 72, " 9 December 1, 1964, 5,000.00 73 to 76, " " December 1, 1965,,4,000.00 77 to 82, " " December 1, 1966, 6,000.00 83 to 90, " " December 1, 1967, 8,000.00 91 to 96, " " December 1, 1968, 6,000.00 97 to 102, " " December 1, 1969, 6,000.00 103 to 120, " " December 1, 1970, 18,000.00 121 to 138, " " December 1, 1971, 18,000.00 139 to 158, " It December 1, 1972, 20,000:00 159 to 179, " December 1, 1973, 21,000.00 180 to 200, " " December 1, 1974, 21,000.00 18. That said bonds shall bear interest at the rates as follows: Bonds Nos. 1 to 61, both incl., 32% per annum; Bonds Nos. 62 to 200, " " 2-3/4% per annum, payable December 1, 1950, and semi-annually thereafter on June 1st and December 1st of each year. 19. In Bonds Numbers Seventy Three (73) to Two Hundred 200), both inclusive, the City shall reserve the option of calling each such bond for redemption prior to maturity at par and accrued interest, on any interest payment date on and after December 1, 1964, by giving thirty (30) days° notice in writing to the place of payment and by publication of such notice in a financial publication having general circulation in New York City. Said notice shall appear in said publication in at least one issue, the date of said issue being not less than thirty days prior to the date so fixed for redemption. If any such bond is called for redemption in said manner and funds sufficient to pay the principal and accrued interest thereon shall have been duly placed in the place of payment and it shall not be presented for payment it shall not thereafter bear interest. 20. The form of said bonds shall be substantially as follows: NO.1,000.00 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF WICHITA CITY OF WICHITA FALLS PARK BOND SERIES 1949 The City of Wichita Falls, in the County of Wichita, State of Texas, a municipal corporation duly incorporated under the laws of the State of Texas, for value received, hereby promises to pay to the bearer here- of on the 1st day of December, 19 the sum of ONE THOUSAND DOLLARS in lawful money of the United States of America, with interest thereon from date hereof at the rate of (*%) per cent per annum, interest payable December 1, 1950, and semi-annually thereafter on the 1st day of June and the 1st day of December of each year, both principal and interest payable upon presentation ana surrender of bond or proper coupon at the Chase National Bank, New York, New York, or, at the option of the holder, at the herc mile National Bank at Ja las, Dallas; Texas, anc the City of Wichita Falls, Texas, is hereby held a firmly bound and its 'nth and credit and all taxable property in said iv are hereby eledged foe the prompt payment of the principal of this bond T.Us recrn:. ""'. > ,, P ro taandrao to a'. . .':''Q t ice telc~ and effect, except n;' i Y er ee t rate, r..yyi. ght of prior redemption, numbere,2 from One -} to Two Hundred clueive, of tl-,e denomination of One I Us nd ; `1„000.00) Dollars ach, p gregating Two Hundred Thousand 0,200,1,'t,00) Dollars, issued for the purpose of improving lands for park purposes, under and by virtue of the Constitution and laws of the State of Texas, th<- Charter. o' said City, and pursuant to an ordinance passed by the Board of Aldermen of said City of Wichita Falls, Texas, which ordinance is duly of record in the minutes of said Board of Aldermen. The City reserves the right to redeem this bond prior to maturity on any interest payment date on and after December 1, 1964, at par and accrued interest to date fixed for payment, provided thirty (30) days' notice in writing is given to the place of payment, and by publication of such notice in a financial publication having general circulation in New York City. Said notice shall appear in said publication in at least, one issue, the date of said issue being not less than Thirty (30) days prior to the date' so fixed for redemption. If this bond is called for payment in said manner and money is placed in said place of payment prior to the date so fixed for redemption sufficient to pay the principal and interest to said date and this bond is not so presented for payment, it shall not thereafter bear in- terest.) The date of this bond in conformity with the ordinance above mentioned is December 1, 1949. AND IT IS HEREBY CERTIFIED AND RECITED that the issuance of this bond, and the series of which it is a part, is duly authorized by law and by a vote of the resident, qualified electors who own taxable property in said City and who had duly rendered the same for taxation in the City of Wichita Falls, Texas, voting at an election held for that purpose within said City on the 6th day of December, 1949; that all acts,' conditions and things required to be done precedent to and in the issuance of this series of bonds, and of this bond, have been properly done and performed and have happened in regular and due time, form and manner as required by law; that sufficient and proper provision for the levy and collection of taxes has been made, which, when collected shall be appropriated exclusively to the payment of this bond, and of the series of which it is a part, and to the payment of the interest coupons hereto annexed as the same shall become due; and that the total in- debtedness of said City of Wichita Falls, Texas, including the entire series of bonds of which this is one, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the City of Wichita Falls, Texas, by its Board of Aldermen has caused its corporate seal to be affixed hereto, and this bond to be signed by the Mayor and countersigned by the City Clerk and the interest coupons hereto attached to be executed by the lithographed or printed facsimile signatures of the Mayor and City Clerk as of the 1st day of December, 1949. Mayor, City of Wichita ally , Texas COUNTERSIGNED: City Clerk, City of Wichita Falls, Texas. Bonds Nos. 1 to 61, both incl., 32% per annum; Bonds Nos. 62 to 200, " " 2-3/4% per annum.) This paragraph should be omitted from Bonds Numbers 1 to 72, both incl.) 21. The form of coupon shall be substantially as follows: NO. ON THE 1ST DAY OF 19 The City of Wichita Falls, Texas, will pay to bearer, unless the bond to which this coupon is attached shall have been called for previous redemption as therein provided and provision for the redemption thereof made), at the Chase National Bank, New York, New York, or, at the option of the holder, at the Mercantile National Bank at Dallas, Dallas, Texas, the sum of Dollars. in lawful money of the United States of America, being months' interest due that day on "City of Wichita Falls, Texas, Park Bond, Series 1949", dated December 1, 1949, No. Mew MMNINWIO City Clerk Mayor This parenthetical expression should be printed only in coupons maturing June 1, 1965, and subsequent). PERTAINING TO THE FIRE STATION BONDS 22. That the bonds of said City.'to be called "City of Wichita Falls, Texas, Fire Station Bonds, Series 1949", be issued under and by virtue of the Constitution and laws of the State of Texas, and the Charter of said City, for the purpose of constructing, repairing and improving fire stations within said City, in the principal sum of One Hundred Thousand 100,000.00) Dollars. 23. That said bonds shall be numbered from One (1) to One Hundred (100), both inclusive, shall be of the denomination of One Thousand 1,000.00) Dollars each, aggregating One Hundred Thousand ($100,000.00) Dollars. 24. That said bonds shall be dated December 1, 1949, and shall become due and payable serially as follows: BONDS NUMBERS MATURITY DATES AMOUNTS 1 December 1, 1950,1,000.00 2.' December 1, 1951, 1,000.00 3 - 4 December 1, 1952, 2,000000 5 - 6 December 1, 1953, 2,000.00 7 - 8 December 1, 1954, 2,000.00 9 - 10 December 1, 1955, 2,000.00 11 - 12 December 1, 1956, 2,000.00 13 - 14 • December 1, 1957, 2,000.00 15 to 17, both incl., December 1, 1958, 3,000.00 18 to 21, " " December 1, 1959, 4,000.00 22-- 23. December 1, 1960, 2,000.00 24 - 25 December 1, 1961, 2,000.00 26 to 28, " " December 1,1962, 3,000.00 29 to 32, " " December 1, 1963, 4,000.00 33 34 December 1, 1964, 2,000.00 35 - 36 December 1, 1965, 2,000.00 37 to 40 " " December 1, 1966, 4,000.00 41 to 43, " " December 1, 1967, 3,000.00 44 to 46, " " December 1, 1968, 3,000.00 47 to 50, " " December 1, 1969, , 4,000.00 51 to 60, " December 1, 1970, 10,000.00 61 to 70, " " December 1, 1971, 10,000.00 71 to 80, " " December 1, 1972, 10,000.00 81 to 90, " " December 1, 1973, 10,000.00 91 to 100, " 91 December 1, 1974, 10,000.00 25. That said bonds shall bear interest at the rates as follows: Bonds Nos. 1 to 28, both incl., 317% per annum, Bonds Nos. 29 to 100, " " 2-3/4% per mum, payable December 1, 1950, and semi-annually thereafter on June 1st and December 1st of each year. 26. In Bonds Numbers Thirty Five (35) to One Hundred 100), both inclusive, the City shall reserve the option of calling each such bond for redemption prior to maturity at par and accrued interest, on any interest payment date on and after December 1, 1964, by giving thirty (30) days' notice in writing to the place of payment and by publication of such notice in a financial publication having general circulation in New York City. Said notice shall appear in said publication in at least one issue, the date of said issue being not less than thirty days prior to the date so fixed for redemption. If any such bond is called for redemption in said manner and funds sufficient to pay the principal and accrued interest thereon shall have been duly placed in the place of payment and it shall not be presented for payment it shall not thereafter bear interest. 27. The form of said bonds shall be substantially as follows: NO. 1,000.00 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF WICHITA CITY OF WICHITA FALLS FIRE STATION BOND SERIES 1949 The City ol: the County of Wi lee, of Texas, a municipal corporation e.11%* 1-: a-? nt _d under the law- se" the as t . of Texae for value received, hereby Cron aes to pay to the bearer hare_ of on the 1st day of December, 19 4he sum of ONE THOUS!n DOLIa l`iS in lawful money of the United States of America, with interest thereon f rom date hereof at the rate of (*%) o r nt pe • ;a, interest payable December 1, 1950, and semi-annually thereafter on the 1st day of June and the 1st day of December of each year, both principal and interest payable upon presentation and surrender of bond or proper coupon at the Chase National Bank, New York, 1 New York, or, at the option of the holder, at the Mercantile National Bank at Dallas, Dallas, Texas, and the City of Wichita Falls, Texas, is hereby held and firmly bound and its faith and credit and all taxable property in said City are hereby pledged for the prompt payment of the principal of this bond at maturity and the interest thereon as it accrues. This bond is one of a series of One Hundred (100) bonds of like tenor and effect, except as to number, interest rate, maturity and right of prior redemption, numbered from One (1) to One Hundred (100), both inclusive, of the denomination of One Thousand ($1,000:.00) Dollars each, aggregating One Hundred Thousand 0100,000.00) Dollars, issued for the pur- pose of constructing, repairing and inproving fire stations within said City, under and by virtue of the Constitution and laws of the State of Texas, the Charter of said City, and pursuant to an ordinance passed by the Board of Aldermen of said° City of Wichita Falls, Texas, which ordinance is duly of record in the minutes of said Board of Aldermen. The city reserves the right to redeem this bond prior to maturity on any interest payment date on and after December 12 1964, at par and accrued interest to date fixed for payment, provided thirty (30) days' notice in writing is given to the place of payment, and by publication of . such notice in & financial publication having general circulation in New York City. Said notice shall appear in said publication in at least one issue, the date of said issue being not less than Thirty (30) days prior to the date so fixed for redemption. If this bond is called for payment in said manner and money- is placed in said place of payment prior to the date so fixed for redemption sufficient to pay the principal and interest to said date and this bond is not so presented for payment, it shall not thereafter bear in- terest.) The date of this bond in conformity with the ordinance above mentioned is December 1, 1949. AND IT IS HEREBY CERTIFIED AND RECITED that the issuance of this bond, and the series of which it is a part, is duly authorized by law and by a vote of the resident, qualified electors who own taxable property in said City and who had duly rendered the same for taxation in the City of Wichita Falls, Texas, voting at an election held for that purpose within said City on the 6th day of December, 1949; that all acts, conditions and things required to be done precedent to and in the issuance of this series of bonds, and of this bond, have been properly done and performed and have happened in regular and due time, form and manner as required by law; that sufficient and proper provision for the levy and collection of taxes has been made, which, when collected shall be appropriated exclusively to the payment of this bond, and of the series of which it is a part, and to the payment of the interest coupons hereto annexed as the same shall become due; and that the total in- debtedness of said City of Wichita Falls, Texas, including the entire series of bonds of which this is one, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the City of Wichita Falls, Texas, by its Board of Aldermen has caused its corporate seal to be affixed hereto, and this bond to be signed by the Mayor and countersigned by .the City Clerk and the interest coupons hereto attached to be executed by the lithographed or printed facsimile signatures of the Mayor and City Clerk as of the 1st day of December, 1949. Mayor, City of Wichita Falls, Texas COUNTERSIGNED; City Clerk, °City of Wichita Falls, Texas. Bonds Nos. 1 to 2$, both incl., 32% per annum; Bonds No.s 29 to 100, " n 2-3/4% per annum). This paragraph should be omitted from Bonds Numbers 1 to 34, both incl.) 2 , The form of coupon shall be substantially as fellow NO. ON THE 1ST DAY OF 19 The City of Wichita Falls, Texas, will pay to bearer, unless the bond to which this coupon is attached shall have been called for previous redemption as therein provided and provision for the redemption thereof made), at ,.the Chase National Bank, New York, New York, or, at the option of the holder, at the Mercantile National Bank at Dallas, Dallas, Texas, the sum of Dollars, in lawful money of the United States of America, being months' interest due that day on "City of Wichita Falls, Texas, Fire Station Bond, Series 1949", dated December 1, 1949, No. City Clerk Mayor This parenthetical expression should be printed only in coupons maturing June 1, 1965, and subsequent). PERTAINING TO ALL ISSUES ABOVE DESCRIBED 29. That substantially the following certificate shall be printed on the back of each bond: OFFICE OF COMPTROLLER STATE OF TEXAS I HEREBY CERTIFY that there is on file and of record in my office a certificate of the Attorney General of the State of Texas to the effect that this bond has been examined by him as required by law, and that he finds that it has been issued in conformity with the Constitution and laws of the State of Texas, and the Charter of said City, and that it is a valid and binding obligation upon said City of Wichita Falls, Texas, and that said bond has this day been registered by me. WITNESS MY HAND and seal of office at Austin, Texas. Comptroller of Public Accounts of the SEAL) State of Texas. 30. That the principal and interest of said bonds shall be payable upon presentation and surrender of bond or proper coupon at the Chase National Bank, New York, New York, or, at the option of the holder, at the Mercantile National Bank at Dallas, Dallas, Texas. 31. That each of said bonds shall be signed by the Mayor and countersigned by the City Clerk and the corporate seal of the City of Wichita Falls, Texas, shall be impressed upon each of them. 32. That the facsimile signature of the Mayor and City Clerk may be lithographed or printed on the coupons attached to said bonds and said facsimile signatures shall have the same effect as if they had been executed manually by the said officials. 33. That special funds shall be created and are hereby created to be designated as follows: City of Wichita Falls, Texas, Waterworks Bonds, Series 1949 Fund"; City of Wichita Falls, Texas, Street Improvement Bonds, Series 1949 Fund"; City of Wichita Falls, Texas, Park Bonds, Series 1949 Fund"; City of Wichita Falls, Texas, Fire Station Bonds, Series 1949 Fund". The proceeds of all taxes collected for or on account of each series of bonds shall be credited to each such fund for the redemption of said bonds at maturity and to pay the interest as it accrues thereon, and said funds shall be used for no other purpose. To create said funds, a tax on the One Hundred 100.00) Dollars' Valuation of taxable property in the City of Wichita Falls, Texas, is hereby levied for the year 1950, for the respective issues of bonds as follows: Waterworks Bonds i8 Street Improvement Bonds 114¢ Park Bonds 3 Fire Station Bonds 12 thereafter whe any of said bonds or interesty due thereon are w.W a'•:> ne e:f me o;ncr aue:.ne t b. 1 coTput c anr„', ascertainec. `rl 3 .. -:_a x, based upon N 7 tes e l7i".'L?trF'G. ':.s."S. rolls 1 ;7 a,d Cityyy n'1...,.. 'ea wF's u a 3^y, requi e it.,e and °,:aw.°,a;,.,x at .fully :make„ •rail and produc t ei r'. year., the cur_en°< and tcze required amount of the pr. Lnc tip . o„ c , year, for each Issue of bonds, or'a proportionate part Jhe reo4, r •, at, such rate the permitted rate on the One HunareJ Doll,arst va shall be levied, assessed and collected during each of said ;,rears, for each issue of bonds and said tax is hereby levied and ordered to be assessed and collected, and the taxes collected shall be applied to said purpose and to no other purpose. 34. Be 'it further ordained that the Mayor of said City shall be authorized to take and have charge of all necessary records pending investigation by the Attorney General and shall take and have charge and con- trol of the bonds hereinauthorized pending their approval by the Attorney General, registration by the Comptroller of Public Accounts and their actual delivery to the purchaser thereof. 35. The fact that the passage of this ordinance is necessary for the immediate preservation of the public business and property of the City creates an emergency and an imperative public necessity that the Q ordinancesrerulrsnnordin,nces to be read at more than one meeting be suspended and that this ordinance be effective immediately from and after its passage, and it is so ordained. Alderman Parish presented for the consideration of the Board of Aldermen a Resolution. Alderman Thomas made a motion that the resolution be adopted finally. The motion was seconded by Alderman Hunter. The motion was carried by the following vote: YEAS: Aldermen Abbott, Ray, Thomas, Brown, Parish and Hunter and Mayor Jones. NAYS: None. The resolution as adopted is as follows: RESOLUTION NO. 46 4 9- 2-/f BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS, AWARDING TO THE PURCHASERS $1,250,000.00 WATERWORKS BONDS, SERIES 1949; 3800,000.00 STREET IMPROVEMENT BONDS, SERIES 1949; $200,000.00 PARK BONDS, SERIES 1949, AND $100,000.00 FIRE STATION BONDS, SERIES 1949. WHEREAS, the Board of Aldermen of the City of Wichita Falls, Texas, has under consideration the sale of its bonds, briefly described as follows: City of Wichita Falls, Texas,W aterworks Bonds, Series 1949, dated December 1, 1949, numbered One (1) to One Thousand Two Hundred Fifty (1,250), both inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating One Million Two Hundred Fifty Thousand 31,250,000.00) Dollars, bearing interest at the rates as follows: Bonds Nos. 1 to 409, both incl., 31% per annum; Bonds Nos. 410 to 1250, n n 2-3/4% per annum, payable December 1, 1950, and semi-annually thereafter on June 1st and December 1st of each year and maturing serially throughout the years 1950 to 1974, both inclusive. City of Wichita Falls, Texas, Street Improvement Bonds, Series 1949, dated December 1, 1949, numbered ene 1) to Eight Hundred (800), both inclusive, of the denomi- nation of One Thousand 01,000.00) Dollars each, aggregating Eight Hundred Thousand (3800,000.00) Dollars, bearing inter- est at the rates as follows: Bonds Nos. 1 to 227, both incl., 3?%per annum; Bonds Nos. 228 to 800, u n 2-3/4% per annum, payable December 1, 1950, and semi-annually thereafter on dune 1st and December tat off' each year and maturing aerially 738 throughout the years 1950 to 1974, both inclusive. City of Wichita Falls, Texas, Park Bonds, Series 1949, dated December 1, 1949, numbered One (1) to Two Hundred (200), both inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating Two Hundred Thousand (200,000.00) Dollars, bearing interest at the rates as follows: Bonds Nos. 1 to 61, both incl., 31% per annum; Bonds Nos. 62 to 200, if o 2-3/4% per annum, payable December 1, 1950, and semi-annually thereafter on June 1st and December 1st of each year and maturing serially throughout the years 1950 to 1974, both inclusive. City of Wichita Falls, Texas, Fire Station Bonds, Series 1949, dated December 1, 1949, numbered One (1) to One Hundred (100), both inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating One Hundred Thousand ($100,000.00) Dollars, bearing interest at the rates as follows: Bonds Nos. 1 to 28, both incl., 3L% per annum; Bonds Nos. 29 to 100, u o 2-3/4% per annum, payable December 1, 1950, and semi-annually thereafter on June 1st and December 1st of each year and maturing serially throughout the years 1950 to 1974, both inclusive. and WH1LEAS, after having received and considered the offer of Shields and Company, New York, New York, and associates, for said bonds, being par and accrued interest to date of delivery, it is considered to be to the best interest of the City that said offer be accepted; BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITLOF WICHITA FALLS, TEXAS: 1. That the offer of S hields and Company, New York, New York, and associates, for said bonds, being par and accrued interest to date of delivery, be and the same is hereby accepted. 2. That the Mayor, City Clerk and City Treasurer be and they are hereby ordered and directed to do any and all things necessary to complete the delivery of said bonds to said purchasers in accordance with their offer, and the receiving of the money for the benefit of the City.. Alderman Thomas presented for the consideration of the Board of Aldermen an ordinance. The ordinance was read in full by the City Clerk. ORDINANCE NO. 1509 Moved by Alderman Brown that Ordinance No. 1509 be approved and passed as read on its first reading. Motion seconded by Alderman Hunter and carried by the following vote: Yeas: Aldermen Abbott, Ray, Thomas, Brown, Parish and Hunter and Mayor Jones. • Nays: None.