Ord 1435 7/14/1947 ORDINANCE NO. 1435
"AN ORDINANCE by the Board of aldermen of the City
of Wichita Falls, Texas, authorizing the issuance
of bonds in the principal sum of $500,000, desig-
nated as 'CITY OF WICHITA FALLS, TEXAS, FIRST
MORTGAGE WATERWORKS SYSTEM REVENUE IMPROVEP11ENT
BONDS, SERIES 1947' (being the unissued balance
of a total authorized issue of $3,500,000 bonds
authorized at an election held on Aril 11, 1944,
for the purpose of paying off, refunding and can-
celling �351,000 'City of VTichita Falls, Texas,
Waterworks System Improvement Revenue Bonds' ,
dated October 11 1940, and for the purpose of pur-
chasing additional water powers, riparian rights,
improving, enlarging, extending and rewiring such
system at a cost of not exceeding $3,149,000, as
authorized by the General Lairs of the State of
Texas, particularly Articles 1111 et seq. , Revised
Civil Statutes of 1925, as amended) ; providing that
said $500,000 bonds shall be issued for the purpose
of purchasing additional water powers, riparian
rights, improving, enlarging, extending and repair-
ing the City' s Waterworks System; prescribing the
form of bond, interest coupons, and certificates of
registration; pledging the revenues of the City's
Waterworks System to the payment of principal and
interest of the bonds, after providing for the ex-
penses of operating and maintaining said system;
further securing said bonds by the first mortgage
on all the properties comprising the City' s entire
Waterworks System, acquired or to be acquired, as
provided by the terms of that certain Trust Inden-
ture dated as of the 1st day of May, 1944, includ-
ing all supplements thereto heretofore or hereafter
given, to secure the entire authorized issue of
,P3,500,000 revenue bonds; enacting provisions inci-
dent and relating to the subject and purpose of this
ordinance; and declaring an emergency.
WHEREAS, under and by virtue of an ordinance duly passed
and adopted by the Board of Aldermen of the City of Wichita Falls,
Texas, on the 13th day of March, 1944, an election was ordered to
be held in said City on the llth day of April, 1944, and at which
election the following proposition was submitted to the qualified
voters of said City:
"SHALL the Board of Aldermen of the City of Wichita
Falls, Texas, be authorized to issue the
revenue bonds of said City in the principal
sum of not exceeding THREE MILLION FIVE HUN-
DRED THOUSAND DOLLARS ($3,500,000) , maturing
serially over a period of years not to exceed
forty years from the date thereof, bearing
interest at the maximum rate of THREE AND ON.E-
H1LF PER CENTUI,T (326) per annum, for the pur-
pose of paying off, refunding and cancelling
not exceeding $_51,000 of bonded indebtedness
of the City' s 1 aterworks System and for the
purpose of purchasing additional water powers,
riparian rights, improving, enlarging, extending
and repairing such System at a cost of not ex-
ceeding $3,149,000, as authorized by the General
Laws of the State of Texas, particularly Articles
1111 et seq. , Revised Civil Statutes of 1925, as
amended, said bonds to be special obligations of
the City of Wichita Falls, Texas, payable as to
both principal and interest solely from the
revenues of the City' s Waterworks System; and
SHALL the Board of Aldermen be authorized to
encumber the City' s Waterworks System or the
revenue thereof, or both., for the purpose of
securing the payment of the principal of and
interest on said bonds, said encumbrance on said
revenues to be an exclusive first lien on and
pledge of said revenues, after the deduction of
reasonable expenses of operating and maintaining
said System, as said expenses are defined by
statute, and all bonds of said series are to
be ratably secured in such manner that no one
bond shall have priority of lien over any other
bond of said series; the indebtedness to be paid
off, refunded and cancelled now being in the
principal sum of $351,000, represented by 'City
of .: ichita Falls, Texas, V aterworks System
Improvement Revenue Bonds ' , dated October 1, 1940,
bearing interest at the rates of 36 and 31` per
annum, due serially in each of the years 1945 to
1960, both inclusive; but redeemable on October 1,
1955, or on any interest payment date thereafter,
which bonds were authorized and issued pursuant
to an election held in said City on September 30,
1938, and an ordinance adopted by the Board of
Aldermen of said City on September 23, 1940,
recorded in Ordinance Book Number 8, and to which
ordinance reference is hereby made for further
description of said indebtedness?"
AND, WHEREAS, upon consideration of the returns of said
election, the Board of Aldermen found that said election had been
conducted in the manner prescribed by law, and was in all respects
legally held, after due and proper notice as required by law;
that due returns of said election had been made by the proper
officers; that said election resulted favorably to the issuance
of said bonds; that a majority of the qualified electors, voting
at said election, voted in favor of the issuance of said bonds;
and that the Board of Aldermen was and is in all things authorized
to issue said bonds and to do any and all things necessary and/or
convenient in connection therewith; and
WHEREAS, on the llth day of May, 1944, the Board of
Aldermen duly passed and approved Ordinance Number 1384 providing
for the issuance of $3,000,000 bonds, it being therein found and
determined that it was not desired at that time to issue all of
the bonds in the amount of �3,500,000 voted, and that said $3,000,000
was the amount then to be issued and that the remaining amount of
said bonds, to-wit: $500,000 should be issued at a future date or
dates when, in the judgment of the Board of Aldermen of said City,
the amount was needed by the City for the purpose for which it was
authorized; and
WHEREAS, by said Ordinance Number 1384, passed and ap-
proved on May 11, 1944, the Board of Aldermen duly authorized the
issuance of $3,000,000 revenue bonds and provided therein that
same should be issued in two series; that is to say --
(a) "Series 1" for the principal sum of $1,000,000, with
interest rates, maturities and option of redemption,
as thereinafter stated in said Ordinance Number 1384,
of which series $351,000 was used for the purpose of
paying off, refunding and cancelling a like principal
amount of the aforesaid outstanding bonds, and $649,000
thereof was used for the purpose of acquiring the author-
ized waterworks improvements; and
(b) "Series 2" for the sum of $2,000,000, with interest
rate, maturities and option of redemption, as there-
inafter stated in said Ordinance Number 1384, and the
said amount was used for the purpose of acquiring the
authorized waterworks improvements; and
1,THEREAS, under the terms and provisions of said
Ordinance Number 1384 it is recited that all of the said $3,500,000
bonds, authorized at the aforesaid election, should be, when and
as the same were issued and sold, ratably secured by such pledge
of revenues and by the terms of such motgage or indenture and/or
any supplemental mortgage or indenture, in such manner that no
one bond shall have priority of lien over any other bond of the
entire authorized amount or series; and
WHEREAS, pursuant to authority given under the terms
and provisions of said Ordinance Number 1384, the Mayor and City
Clerk have heretofore executed a proper Indenture or Deed of
Trust, making effective the lien on the City' s entire Waterworks
System, and on the revenues and income of such System, to pay the
principal of and interest on the entire series of $3,500,000 bonds,
authorized at the aforesaid election, when and as such bonds are
issued, pursuant to ordinances passed by the Board of °Aldermen,
and in which Indenture the City National Bank in Wichita Falls,
Wichita Falls, Texas, is named as Trustee; and
WHEREAS, the said Mayor and City Clerk have filed
a duly authenticated copy of such Indenture with the City Clerk
and have also filed a duly authenticated copy thereof with the County
Clerk of Wichita County, Texas, and of 1`�.rcher County, Texas, and
same has been placed of record in the Deed of Trust and Mortgage
Records of Wichita County, Texas, and of Archer County, Texas;
and
WHEREAS, it is the finding and judgment of the Board
of Aldermen that the balance of the aforesaid bonds, authorized
at said election but remaining unissued, to-wit: $500,000, is
needed at this time for the purpose of acquiring additional
authorized waterworks improvements, and that same should now be
issued and sold, and ratably secured by a pledge of the revenues
and by the terms of the Indenture and/or any supplemental mortgage
or indenture, as aforesaid; therefore
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY
OF WICHITA FALLS, TEXAS :
SECTION 1: That, in order to borrow the said sum of
FINE HUNDRED THOUSAND DOLLARS ($500,000) for the purpose of pur-
chasing additional water powers, riparian rights, improving,
enlarging, extending and repairing the City' s Waterworks System,
the Board of Aldermen of the City of Wichita F:�lls, Texas, by
virtue of authority expressly conferred by the qualified electors
of said City, at the aforesaid election, and pursuant to the
General Laws of the `tate of Texas, particularly Articles 1111
et seq. , Revised Civil Statutes of 1925, as amended, has deter-
mined to provide for a series of coupon bonds to be designated
as "CITY OF WICHITA FALLS, TEXAS, FIRST MORTGAGE WATERWORKS
SYSTEM REVENUE IMPROVE14ENT BONDS, SERIES 1947" , aggregating in
amount FIVE HUNDRED THOUSAND DOLLARS ($500,000) , payable as to
both principal and interest solely from the revenues of the
City' s Waterworks System, and further secured by the terms of
that certain Trust Indenture dated as of the 1st day of May,
1044, including all supplements thereto heretofore or hereafter
given, to secure the entire authorized issue of $3,500,000
revenue bonds, hereinabove mentioned, said encumbrance on said
revenues being an exclusive first lien on and pledge of said
revenues, after the deduction of the reasonable expenses of
operating and maintaining said 1,1aterworks System, as said
expenses are defined by statute .
SECTION 2: That the bonds to be known as "CITY OF
WICHITA FALLS, TEXAS, FIRST MORTGAGE WATERWORKS SYSTEM REVENUE
IMPROVEMENT BONDS, SERIES 1947" shall be dated June 1, lQ47;
shall be numbered consecutively from One (1) to Five Hundred (500)
both inclusive; shall be in denomination of One Thousand Dollars
($1,000) each, aggregating FIVE HUNDRED THOUSAND DOLLARS ($500,000) ,
and shall be due serially in accordance with the following schedule:
BOND NUMBERS
JA11 Inclusive) MATURITY DATES AMOUNTS
1 to 3 April 1, 1950 $ 3,000
4 to 6 April 1, 1951 3,000
7 to 9 April 1, 1952 3,000
10 to 12 April 1, 1953 3,000
13 to 16 April 1, 1954 4,000
17 to 19 April 1, 1955 3,000
20 to 23 April 1, 1956 4,000
24 to 27 April 1, 1957 4,00o
28 to 31 April 1, 1958 4,o00
32 to 35 April 1, 1959 4,000
36 to 38 April 1, 1960 3,000
39 to 57 April 1, 1961 19,000
58 to 77 April 1, 1962 20,000
78 to 98 April 1, 1963 21,000
99 to 118 April 1, 1964 20,000
119 to 139 April 1, 1965 21,000
14o to 161 April 1, 1966 22,000
162 to 183 April 1, 1967 22,000
184 to 206 April 1, 1968 23,000
207 to 229 April 1, 1969 23,000
230 to 253 April 1, 1970 24,000
254 to 278 April 1, 1971 25,000
279 to 303 April 1, 1972 25,000
304 to 330 April 1, 1973 27,000
331 to 357 April 1, 1974 27,000
358 to 385 April 1, 1975 28,000
386 to 413 April 1, 1976 28,000
414 to 441 April 1, 1977 280000
442 to 470 April 1, 1978 29,000
471 to 500 April 1, 1979 30,000;
PROVIDED, HOWEVER, that the said City of Wichita Falls reserves
the right to redeem said bonds Numbers 119 to 500, both inclusive,
in whole or in part, on April 1, 1964, or on any interest payment
date thereafter, by paying par and accrued interest; PROVIDED,
FURTHER, that if less than all of said bonds are redeemed on any
such date, the same shall be redeemed in inverse numerical order;
and, PROVIDED, FURTHER, at least thirty days prior to any interest
payment date upon which any of said bonds are to be redeemed,
a notice of intention, signed by the City Clerk (specifying the
serial numbers and amount of bonds to be redeemed) shall have
been published once in a newspaper of general circulation pub-
lished in the State of Texas, and shall have been filed with the
MERCANTILE NATIONAL BANK AT DALLAS, DALLAS, TEXAS (the paying
agent named in each of said bonds) , and should any bond not be
delivered to the City for redemption, pursuant to such notice,
the same shall cease to bear interest from and after the redemp-
tion date specified in such notice.
SECTION 3: That the said "CITY OF WICHITA FALLS, TEXAS,
FIRST MORTGAGE WATERWORKS SYSTEM REVENUE IMPROVEMENT BONDS,
SERIES 1947" shall bear interest at the following rates per
annum; that is to say --
(a) Bonds Numbers 1 to 27, both inclusive,
maturing on April 1st in each of the years 1950 to 1957,
both inclusive, shall bear interest from date until paid
at the rate of TI10 PER CENTUM (2%) per annum;
(b) Bonds Numbers 28 to 161, both inclusive,
maturing on April lst in each of the years 1958 to 1966,
both inclusive, shall bear interest from date until paid
at the rate of TWO AND ONE-HALF PER CENTUM (2-21-%) per
annum; and
(c) Bonds Numbers 162 to 500, both inclusive,
maturing on April 1st in each of the years 1967 to 1979,
both inclusive, shall bear interest from date until paid
at the rate of TWO AND THREE-FOURTHS PER CENTUM (2-3/4%)
per annum;
such interest to be evidenced by proper coupons attached to each
of said bonds; and said interest shall be payable semi-annually
on April lst and October lst in each year, the first interest
payment date to be October 1, 1947.
SECTION 4: That the principal of and interest on said
series of bonds shall be payable on presentation and surrender
of bonds or proper coupons, in lawful money of the United States
of America, at MERCANTILE NATIONAL BANK AT DALLAS, DALLAS, TEXAS.
SECTION 5: That each of said bonds shall be signed by
the Mayor, countersigned by the City Clerk, and sealed with the
seal of the City, and the interest coupons attached to said bonds
shall be executed with the lithographed or printed facsimile sig-
natures of said officers; and each bond may be registered as to
principal only by the City Clerk, at the option of the holder.
SECTION 6: That the bonds to be issued hereunder and
the coupons to be attached hereto, and the Trustee' s Certificate
to be endorsed on the bonds, and Comptroller' s Certificate, are
to be substantially in the following forms, respectively, with
appropriate omissions, insertions and variations permitted or
otherwise, as hereinafter provided:
(FORM OF BOND)
NO., UNITED STATES OF AMERICA $1,000
STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS, TEXAS, FIRST
MORTGAGE WATERWORKS SYSTEM REVENUE
IMPROVEMENT BOND, SERIES 1947
FOR VALUE RECEIVED, the City of Wichita Falls, in the
County of Wichita, State of Texas, hereby acknowledges itself
indebted to, and hereby promises to pay the bearer, or, if this
bond be registered as to principal, to the registered holder
hereof, as hereinafter stated, the sum of
ONE THOUSAND DOLLARS
($1,000) , on the FIRST DAY OF APRIL, 19 in lawful money of
the United '-testes of America, and to pay interest thereon from
the date hereof until paid at the rate of PER CENTUM
(� %) per annum, payable semi-annually on :,pril 1st and October
lst in each year, first interest payment date being October 1,
1947, upon the presentation and surrender of coupons hereto
appertaining as they severally become due; both principal and
interest shall be payable at MERCANTILE NATIONAL BANK AT DALLAS,
DALLAS, TEXAS, and the said City of Wichita Falls, Texas, is
hereby held and firmly bound to apply the pledged appropriated
revenues of its 1- aterworks System to the prompt payment of prin-
cipal and interest of this bond at maturity, and to pay said
principal and interest as they mature .
THIS BOND is one of the bonds issued in the aggregate
principal amount of THREE MILLION FIVE HUNDRED THOUSAND DOLLARS
0 3,500,000) , under and in accordance with, and all equally
secured by an Indenture or Mortgage or Deed of Trust dated
May 1, 1944, including all supplements thereto heretofore or
hereafter given by the City of Wichita Falls, Texas, to the City
National Bank in 17ichita Falls, 1- ichita Falls, Texas (herein-
after sometimes referred to as the "Trustee") , including partic-
ularly the Supplemental Indenture dated June 13 1947, ( said origi-
nal and supplemental indentures being hereinafter sometimes referred
to collectively as the "Indenture") , wherein and whereby, for the
purpose of securing the payment of all of said bonds, the City has
mortgaged its entire Waterworks System and the revenues to be de-
rived from the operation thereof, to �,,ihich Indenture reference is
here made for a description of the property mortgaged and pledged,
the nature and extent of the security, and the rights of the holders
of the said bonds, and of the Trustee, and of the City in respect
of such security. By the terms of the said Indenture the bonds to
be secured thereby are i ssuable in series, which may vary as to
date, amount, date of maturity, option of redemption, rate of
interest, and in other respects as in the said Indenture provided.
The principal and interest of said bonds are payable out of the
revenues of said Waterworks System pledged for that purpose, after
deduction of reasonable operation and maintenance expenses. �"The
bonds of the series, of which this is one, are all of like tenor
and effect, except as to interest rate and maturity, and are is-
sued in the aggregate principal amount of FIV""; HUNDRED THOUSAt\TD
DOLLARS (4500,000) for the purpose of purchasing additional water
powers, riparian rights, improving, enlarging, extending and re-
pairing such system in accordance with the Constitution and laves
of the State of Texas, particularly Articles 1111 et seq. , Revised
Civil Statutes of 1925, as amended, by authority of a vote of the
qualified property taxpayinjZ voters of said City, who had duly
rendered their property for taxation, voting; at an election held
on the llth day of April, 1944, and pursuant to an ordinance
passed by the Board of Aldermen of said City, and duly recorded
in the minutes of said Board.
AS PROVIDED in the ordinance hereinabove mentioned, the
City reserves the right to redeem the bonds of this series which
mature in the years 1965 to 1979, both inclusive, in whole
or in part, on April 1, 1964, or on any interest payment date
thereafter, by paying par and accrued interest; provided, if
less than all of said bonds are redeemed on any such date, the
same shall be redeemed in inverse numerical order; and, provided
further, at least thirty days prior to any interest payment date
upon which any of said bonds are to be redeemed, a notice of
intention, signed by the City Clerk ( specifying the serial numbers
and amount of bonds to be redeemed) shall have been published
once in a newspaper of general circulation published in the State
of Texas, and shall have been filed with the MRCANTILE NATIONAL
BANK AT DALLAS, DALLAS, TEXAS (the paying agent named in each of
said bonds) , and should any bond not be delivered to the City for
redemption, pursuant to such notice, the same shall cease to bear
interest from and after the redemption date specified in such
notice.
THE HOLDER HEREOF shall never have the right to demand
payment of this obligation out of any funds raised or to be raised
by taxation.
IN CASE an event of default, as defined in the Indenture,
shall occur, the principal of this bond and all other bonds se-
cured or to be secured thereby, may become or be declared due
and payable at the time or times, in the manner and with the
effect provided in the Indenture.
AT THE OPTION of the holder this bond may be registered
as to principal at the office of the City Clerk in the City of
Wichita Falls, State of Texas, and such registration noted hereon
by the City Clerk, as Registrar. After such registration, upon
delivery to the City Clerk of a written instrument of transfer,
in the form approved by the City of Wichita Falls, executed by
the registered holder in person or by his attorney thereunto duly
authorized, this bond may be transferred, and such transfer shall
be similarly noted hereon, and no transfer hereof shall be valid,
unless so made; but this bond may be discharged from registration
by being in like manner transferred to bearer, and thereupon
transferability by delivery shall be restored, and this bond may
again, from time to time, be registered or transferred to bearer
as before . No such registration shall affect the negotiability
of the coupons appertaining hereto, which shall continue to be
transferable by delivery, merely, and shall remain payable to
bearer.
AND IT IS HEREBY CERTIFIED, RECITED AND DECLARED that
all acts, conditions and things required to be done precedent to
and in the issuance of this bond have been properly done, have
happened and have been performed in regular and due time, form
and manner, as required by the Constitution and Laws of the State
of Texas, and the ordinance hereinabove mentioned, and that this
series of revenue bonds does not exceed any constitutional or
statutory limitation; and that provision has been made for the
payment of the principal and interest of this bond, and the series
of which it is a part, by irrevocably pledging revenues of the
Waterworks System of said City of Wichita Falls.
NEITHER THIS BOND nor any interest coupon appertain-
ing hereto shall be or become valid or obligatory for any purpose
unless and until this bond shall have been authenticated by the
execution of the certificate endorsed hereon by the Trustee or its
successors in trust under the Indenture.
IN TESTIMONY WHEREOF, the City of Wichita Falls, Texas,
by its Board of lkldermen, has caused this bond to be signed by its
Mayor and countersigned by its City Clerk and sealed with the seal
of said City, and has caused the annexed coupons to be signed by
the lithographed or printed facsimile signatures of the Mayor and
City Clerk; the date of this bond, in conformity with the ordinance
hereinabove mentioned, authorizing its issuance, being the first
day of June, 1947.
Mayor, City of Wichi a Falls, Texas.
COUNTERSIGNED:
z v Clerk. City of Winhi-Fn Pn„ _ M-._--
(FOPI'i OF INTEREST COUPON)
NO. ON 'ice DAY OF P
19 ,
the CITY OF WICHI`1'A FALLS, a municipal corporation of the State
of Texas, hereby promises to pay to the bearer, out of the funds
specified in the bonds to which this coupon is attached, and in
lawful money of the United States of America, at NTERCANTILE
NATIONAL BANK AT DALLAS, DALLAS, TEXAS, the sum of
- - - - - - - - DOLLARS
said sum being months? interest that day
due on "CITY OF WICHITA FALLS, TEXAS, FIRST 1V_ORTGA.GE V1ATE1G1ORKS
SYSTEMI REVENUE IMPROVETJENT BOND, SERIES 1947", dated June 1, 1947,
Bond No,
City Clerk M Mayor
( "TRUSTEE'S CERTIFICATE"}
IT IS =MEBY CERTIFIED that this bond is one of the
series of bonds described in the Trust Indenture dated as of May
1, 1944, and the Supplemental Trust Indenture dated as of June 1,
19471, executed by the City of 71ichita Falls, Texas, to the under-
signed Trustee.
CITY NATIONAL BANK IN WI CHITA FALLS,
Ia;'ICHITA FALLS, TEXAS,
Trustee,
By
Its
(FOP11 OF COMPTROLLERS CERTIFICATE
OFFICE OF COMPTROL1.10 0
0 REGISTER NO.
STATE OF TEXAS 0
I 11EREBY CERTIFY that there is on file and of record in
my office a certificate o-- the AttDrney 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 lairs of the State of Texas,
and that it is a valid and binding special obligation of the City
of Wichita Falls, Texas, payable from the revenues pledged to its
payment by and in the ordinance authorizing same, and said bond
has this day been registered by me.
WITNESS MY HAND AND SEAL OF OFFICE at r.ustin, Texas,
Comptroller of Public Accounts of the
State of Texas.
("REGISTRATION CERTIFICATE")
(No writing hereon except by the City Clerk
of the City of Wichita Falls, Texas, as Registrar) :
DATE OF REGISTRATION IN WHOSE NAME REGISTERED: REGISTRAR
City Clerk
City Clerk
City Clerk
. City Clerk
: City Clerk
SECTION 7: The Mayor and City Clerk will immediately
execute an appropriate supplement to the Indenture or Deed of
to
Trust, here/fore given by the City of Wichita Falls, Texas, to
the City National Bank in Wichita Falls, Wichita Falls, Texas,
as Trustee, dated May 1, 1944, so as to specifically include
therein the said *500,000 series of revenue bonds, and so as to
otherwise adopt, for the benefit of such series of bonds, all
provisions of said Indenture applicable in making effective the
lien on the City' s entire Waterworks System, and on the revenues
and income thereof, to pay the principal of and interest on the
entire issue of $3,500,000 bonds authorized at the election of
April 11, 1944, including said $500,000 Series, in such manner
that no one bond of any of the several series shall have priority of
lien over any other of said bonds; and the said Mayor and City
Clerk shall file a duly authenticated copy of such Supplemental
Indenture with the City Clerk and same shall also be placed of
record in the Deed of Trust Records and Mortgage Records of
Wichita and Archer Counties, Texas.
SECTION 8: All rights existing under the aforesaid
Indenture and/or supplements thereto shall be and are hereby
expressly recognized and incorporated herein for the protection
of the bonds hereby authorized and their enforcement .
SECTION 9: That except in those particulars appro-
priately applicable only to the bonds therein authorized, the
provisions of Ordinance Number 1384 passed and approved May 11,
1944, authorizing the two series of revenue bonds dated May 1,
1944, aggregating the principal sum of $3,000,000, are hereby
adopted by this reference in support of the series of bonds
herein authorized, and said ordinance is hereby recognized and re-
affirmed in all its term; and provisions. Particularly the pro-
visions of said ordinance set out in Section 8 thereof relating
to the creation of the "SPECIAL WATERWORKS SYSTEM REVENUE BOND
FUND" , are hereby adopted for the support and payment of the
series of bonds herein authorized, and for the purpose of pay-
ing the principal of and interest on such bonds as the same
mature, and in addition to the amounts required for such pur-
pose as regards the Series 1 and 2 bonds, dated May 1, 1944, under
schedules of the aforesaid ordinance Number 1384, the following
amounts in the following years shall be deposited in said Special
Fund for payment of the principal of and interest on the
"CITY OF WICHITA FALLS, TEXAS, FIRST MORTGAGE WATERWORKS SYSTEM
REVENUE IMPROVEMENT BONDS, SERIES 1947" , aggregating $500,000
in principal amount as herein authorized; that is to say --
YEAR ENDING
March 31st PRINCIPAL INTEREST TOTAL AMOUNT
1948 11,OIO.42 ll,01o.42
1949 13,212.50 13,212.50
1950 3,000 13,212. 50 16,212.50
1951 3,000 13,152. 50 16,152.50
1952 3,000 13,092.50 16,092.50
1953 3,000 13,032.50 16,032.50
1954 4,000 12,972.50 16,972.50
1955 3,000 12,892.50 15,892.50
1956 4,000 12,832.50 16,832.50
1957 4,00o 12,752.50 16,752.50
1958 4,000 12,672.50 16,672.50
1959 4,000 12,572.50 16,572.50
196o 3,000 12,472. 50 15,E+72.50
1961 19,000 12,397.50 31,397.50
1962 20,000 11,922.50 31,922.50
1963 21,000 11,422.50 32,E+22.50
196E 20,000 10,897.50 30,897.50
1965 21,000 10,397.50 31,397.50
1966 22,000 9,872.50 31,872.50
1967 22,000 9,322.50 31,322.50
1968 23,000 8,717.50 31,717.50
1969 23,000 8,o85.00 31,085.00
1970 24,000 7,452.50 31,E+52.50
1971 25,000 6,792.50 31,792.50
1972 25,000 6,105.00 31,105.00
1973 27,000 5,417.50 32,417.50
1974 27,000 4,675.00 31,675.00
1975 28,000 3,932. 50 31,932.50
1976 28,000 3,162.50 31,162.50
1977 28,000 2,392.50 30,392.50
1978 29,000 1,622.50 30,622.50
1979 30,000 , 825.00 30,825.00
No mistake in the foregoing calculations, or any of
the provisions hereof, shall in any manner operate to diminish
the amounts, of either principal or interest, to become due,
but an amount is hereby ordered to be set aside for each of the
years specified, sufficient in all respects to meet the obliga-
tions of the City as evidenced by the bonds and interest coupons
herein provided.
The aforesaid total amounts shall be deposited in such
Special Fund in equal monthly installments on or before the 15th
day of each month; and so long as said bonds or interest coupons,
or any of them, shall remain outstanding and unpaid the Board
of j'ldermen of said City shall fix and maintain rates and col-
lect charges for facilities and services afforded by its W,.;:ter-
works System, which will produce revenues sufficient at all
times --
(1) To pay for all operation, maintenance, deprecia-
tion, replacement and betterment charges of the said Waterworks
System;
(2) To establish and maintain the said "SPECIAL
WATERWORKS SYSTEM REVENUE BOND FUND" ; and
(3) To pay all outstanding indebtedness against its
said Waterworks System, other than the said bonds, as and when
the same becomes due .
Any funds remaining on hand, after provision for the
maintenance and operating expenses of the 1,1aterworks System,
and after paying the amount required to be paid into the
"SPECIAL WATERWORKS SYSTEM REVENUE BOND FUND" , as above provided,
may be used by the City for any other purpose permitted by law.
SECTION 10: That the sale of the bonds herein
authorized to --
DALLAS RUPE AND SON, DALLAS, TEXAS,
MOSS, MOORE AND COMPANY, DALLAS, TEXAS,
R. J. EDWARDS, INC. , DALLAS, TEXAS, and
FIRST OF TEXAS CORPORATION, SAN ANTONIO, TEXAS,
at the price of par and accrued interest to date of delivery,
is hereby confirmed. Delivery of the bonds shall be made to
said purchasers as soon as may be after the adoption of this
ordinance, upon payment therefor in accordance with the terms
of sale .
SECTION 11 : That the Mayor, City Clerk and the
Trustee named in the Indenture to secure payment of said bonds,
shall be and they are each hereby expressly authorized to do any
and all things necessary in respect to the issuance, approval
and certification, the registration and delivery of said bonds.
SECTION 12: IT IS HEREBY DECLARED that the afore-
said ordinance is an emergency measure; that in order to improve,
enlarge, extend and repair such Waterworks System at the earliest
possible date, there exists urgent public need for preservation
of peace, health and safety of property that this ordinance shall
take effect from and after its passage, and it is so ordained.
PASSED AND APPROVED, this the l,, - day of July ,
1947.
Mayor, Cal y o aic i a alls, Texas .
ATTE
l
Cit- lerk, City of Wichita Falls,
Texas
(City Seal)
CERTIFICATE OF CITY CLERK
THE STATE OF TEXAS
CITY OF WICHITA FALLS
COUNTY OF WICHITA
I, George T. Henderson City Clerk of the City
of Wichita Falls, Texas, DO HEREBY CERTIFY that the foregoing
is a true and correct copy of Ordinance No. 1435 , adopted
by the Board of Aldermen of said City on the J4 day of
ju y , 1947, at a regular + meeting of said
Board of Aldermen, and that it has, been properly enrolled,
placed in the office of the City Clerk and approved by the
Mayor, having been recorded in Ordinance Book No. 8 ,
of the Ordinance LLLecords of said City.
WITNESS MY HAND AND SEAL OF THE SAID CITY OF WICHITA
FALLS, TEXAS, this the 15 day of July, 1947.
ity C erk, City of 111chita Fall s.
(City eat)