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Ord 1380 3/13/1944 C C_ ORDINA1TCE NO. AN ORDINANCE ordering an election in the City of Wichita Falls, Texas, to be held on the 11th -FR day of April, 1944s for the purpose of su mr—t- ting to the qualified voters of said City the following propositions tO-wit: whether or not the Board of Aldermen shall be authorized to issue Three JAillion Five Hundred Thousand Dollars 03,500sOOO-00) in revenue bonds for the purpose of paying off, refunding and can- celling not exceeding Three Hundred Fifty One Thousand ($351,000-00) of bonded indebtedness of the city' s Waterworks System and for the purpose of purchasing additional water powerv, riparian rightst improving, enlarging, extend- ing and repairing such system at a cost Of not exceeding Three J�jillion One Hundred Forty Nine Thousand Dollars 03, 149,000-00) as au- thorized by the General Laws of the State of Texas, particularly Articles 1111 et seq. 9 Revised Civil Statutes 1925, as amended; designating the places at which such election shall be held; prescribing the form of the ballot to be used therein; providing for notice of such election; enacting provisions incident and relating to the subject and pur- pose of this ordinance; ard declaring an emergency. ',VHEREAS, the CTTY OF WICHITA FALLS2 TEXAS, owns and operates its Waterworks System, and has continuously owned and operated the said system since the 20th day of November 1920 and, by Article 1111 of the Texas Revised Civil Statutes of 1925, as amended, power and authority is conferred upon said city to purchase additional water powers, riparian rights$ or to build, improve, enlarge, extend or repair said Waterworks System; and, V,,'HEREAS, HERETOFORE, TO-WIT: on the 24th day of September, 1940, by ordinance duly adopted and entered of record in Book 8 of the Ordinance Records of said City, and under author- ity of an election held in said City on the 30th day of September, 1938, the said City issued its revenue bonds in the principal sum of Four Hundred Thousand Dollars ($400,000.00) designated as "City of Wichita Falls, Texas, Waterworks System Improvement Revenue Bonds, " issued for the purpose of improving, enlarging, extending and repairing the Waterworks System of said City, which bonds were and are equally secured by a Trust Indenture or 14ortgagge dated as of October 1) 1940, given by the City Of Wichita Falls, Texas, to the City National Bank in Wichita Falls, Texas, as Trustee, wherein and whereby the City mortgaged its entire i�jaterworks System, and all the revenues of the said SYS- tem, after deduction of reasonable operation and maintenance expensest to secure payment of both principal of and interest on said bonds at maturity; and said bonds were duly issued and sold and the proceeds applied to the purpose stated, and of which series there is now outstanding against said System an indebtedness in the principal sum of Three Hundred Fifty One Thousand Dollars ($351,000-00) ; and, Ti.,IHEREAS, the present Waterworks System is wholly inadequate to render efficient service to the City, and the in- habitants thereof, and this Board, after due investigation, has ascertained and determined that there now exists an emergency and imperative public necessity requiring the City to acquire an additional water supply because at the present time the City can obtain water from only two sources, namely, from Lake Vv'ichita, and from Lake Kemp; that Lake Wichita is a small lake which fur- nishes water of a fair quality but inadequate in quantity; that Lake Kemp, which is located approximately forty miles west on the jjichita River, is in a drainage area which has a considerable 8mount of soluble minerals, and results in making that source of water supply very unsuitable for many domestic uses; and that by reason of the demand on the part of the citizens for a more adequate and healthful water supply this Board finds it necessary for the City to purchase additional water powers (including lands for reservoir) and to improve) enlarge, extend and repair the present �Aiaterworks System; andq a more efficient and adequate water su,oply and distribution system is also made necessary by reason of the fact that the population of the City has increased ap- proximately ten thousand (lOsOOO) inhabitants subsequent to the 1940 census; andp 'o,H, EREAS5 this Board has ascertained and deter mined that the cost for the necessary and needed improvements, extensions and repairs to the said 1,Vaterworks System5 including the acquisition of an additional water supplyt will not exceed the sum of Three �,Tillion One Hundred Forty Nine Thousand Dollars 03, 149, 000.00) ; and, �,.FEREAS, there is not at this time in the main tenance and operation fund of the said Viater-works System an amount sufficient to provide for such necessary and needed water- wor'Ks improvements, or any part thereof, and will not be avail- able for said purposes for many years; and, WEEREAS, at the time the aforesaid $4002000.00 ,,City of 1�ichita Falls, Texas, VvIaterworks System Improvement Revenue Bonds, " dated October 11 1940, were voted and issued, it was provided by Article 1112, Revised Statutes 1925, as amended, that the City could issue revenue bonds for the purpose of refund- ing any existing indebtedness lawfully created against its Water- works System; and, I-MREAS, this Board has further ascertained and determined that the only method whereby the City can now acquire such needed waterworks improvements is by the authorization and issuance of the revenue bonds of said City in the amount and for the -purposes hereinafter slu-ated; it being the intent and purpose of the City to mortgage and encumber the City' s Waterworks System by the issuance of one series of revenue bonds not exceeding the 1 sum of THREE MILLION FIVE TT . 1 112 LL principa --LZTDRED TT- OUS TD DOL IRS for the -Durpose of paying off, refunding and 500, 000-00) , cancelling not exceeding Three Hundred Fifty One Thousand Dollars ($3519000-00) of said outstanding indebtedness , and for the purpose of purchasing additional water powerso riparian rights, improving, enlarging, extending and repairing such system at a cost of not exceeding Three jj,�illion One Hundred Forty Nine Thousand Dollars (43, 149, 000-00) , and which said bonds shall be special obligations of the City, payable as to both principal and interest solely from the revenue of the City' s 11aterworks System, and the same may be further secured by encumbering the City' s Waterworks System or the revenues thereof, or botho said encumbrance on said revenues to be an exclusive first lien on and pledge of said revenueso after the deduction of t1ae reasonable expenses of operating and maintaining said Waterworks 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; therefore, BE IT ORDAINED By THE BOARD OF ALDEaTIEN OF THE CITY OF wJoHITA FALLSO TOXkS: SECTION 1: That the findings and declarations made in the preamble of this ordinance, be, and they are, entered as a part of this ordinance. SECTION 2: That the Board of Aldermen of the City of V,"ichita Falls, Texas, deems it advisable and necessary to issue the revenue bonds of said City in the amount and for the purposes hereinafter mentioned. SECTION 3: That an election be held on the Z-4t/ day of April� 1944s which date is not less than fifteen nor more than thirty days from the date of the passage and adoDtion of this ordinance, at which election the following proposition shall be submitted to the qualified electors who own taxable property in said City and who have duly rendered' the same for taxation: t1SHALL 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 DOLIARS (0, 500sOOO-00) , matur- ing serially over a period of years not to exceed forty years from the date thereof, bearing interest at the maximum rate of THREE AND ONE HALF PER CENTUM (3-21%) per annum, for the purpose of paying off, refunding and cancelling not exceeding $3519000-00 of bonded indebtedness of the City' s Waterworks System and for the purpose of purchasing additional water powers, riparian rights, improving, enlarging, extending and repairing such Sys- tem at a cost of not exceeding Three 'Vi-lillion One Hundred Forty 111ine Thousand Dollars (43� 149, 000-00) , as authorized by the General Laws of the State of Texas, particularly Articles Jill et seq. , Revised Civil Statutes 1925, as amended, said bonds to be special obligations of trB City Of IVITichita Falls, Texas, payable as to both principal and in- terest solely from the revenues of the City' s lVaterworks system and, Shall the Board of Aldermen be authorized to encunber the City' s I'Vater%orks 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 cf said revenuest 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 051,000.00, represented by ,city of Wichita Falls, Texas, Waterworks System Improvement Revenue Bonds, " dated October 1, 1940, bearing interest at the rates of 3% and 3-1% per annum, due serially in each of the years41945 to 1960, both inclusive; but redeem- able on October 1) 1955, or on any interest pay- ment date thereafter, which bonds were author- ized and issued pursuant to an election held in said City on September 30s 1938, and an ordi- nance adopted by the Board of Aldermen of said CITY on September 23, 1940, recorded in Ordinance Book 17umber 8, and to which ordinance reference is hereby made for further description of said indebtedness?" SECTION 4: In the event the said bonds are authorized to be issued by a majority of the qualified electors of said City, voting at said election� and the same are issued and sold, the holder or holders of such bonds shall never have the ri4it to demand. payment thereof out of any funds raised or to be raised by taxation; and each bond issued or executed, in pursuance of such electiont shall contain this clause: "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." SECTION 5: That said election shall be held within said City at the following duly established City voting precincts, and the following named persons are hereby appointed managers thereof, tO-wit: VOTING PRECINCT LOCATION VOTING PRESIDDIG JUDGE NWBER BOX 1 Central Fire station p. 2. Pearson Mrs He Re Putnam 2 Travis School 3 Barwise 6chool We L. Neel 4 Wichita County Courthouse Z, Be Fitts 5 Kerap Public Library S. Be Wilson 6 Baber' s Phermacy, 11th & Holliday Roscoe Staton 7 Seventeenth Street Fire Station swing Claggett 8 Jefferson Street Fire Station 8, L, Bingham 9 Seventh Street Fire Station Me Lo Tittle 10 Floral Heights Cook Shop� We G. Bralley 2303A 9th St. 11 1911 Collins Street so Be Zittel 12 Patton' s Pharmacy, 2400 Holliday 0. A* Pitts 13 Giddings Street Fire Station Re Le Brumbalow 14 T�onroe Street Pharmacy, 1600 Ylonroe N* A. Moore 15 English Pharmacy, 2414 A 10th St. Be Be Crocker 16 Buchanan Street Fire Station Tom Be Medders 17 Holland' s Barber Shop, Kitt Cowan 2415 Grant. C IT. Broadway Geo. F, Tasker 18 B & H Ieaners* 609 19 East Side Presbyterian Church. 1. We Bussey S � E ION 6: That soid election shall be held under the provisions of and in accordance with the laws governing the issuance of municipal bonds in cities, as provided in the general laws of the State of Texas ; and onlY qualified electors who own taxable property in the city, and who have rendered the same for taxation, shall be qualified to vote. SEC !ION 7: That the form of the ballot to be used at said election shall be as follows: OFFICIAL BALLOT ttFOR THE ISSUANcE OF �-,IATER��IORKS SYSTEIM RIPIVENUE BONDS AND ENCUy,�,�RING THE CITy,S i,,ATERwORKS SYSTEM OR TH-E REVENUES THEREOF, OR BOTH, FOR THE pkylvIENT OF SAME." i!vu ,,AGAINST THE ISSUANCE OF '�,VIATE_R'�XRM SYST211 REV E I BONDS AND EN(,UyBFRING THE CITY'S WATER�!ORKS SYSTMI OR THE REVENUES THEREOF$ OR BOTH, FOR TH- g, PAYMENT OF SIAIAE- " All voters who favor the Proposition to issue the bonds shall leave upon their ballot that part of the ballot which reads "FOR THE ISSUf-liCE OF vVATEKC,.i,�TORKS SYSTEIJ RIEMENUE BONDS AND ENrjRrIB�,IRING THE CITy,S ,,p,,ATERWORKS SYSTEY OR TFE RF'VMTUES OR BOTT _ - -PAYMERT OF SMT. 11 Those opposed to the TFE RE OF, 1, FOR TrTp issuance of said bonds shall leave upon their ballot that portion of the ballot which reads IIAGGkINST TTIIE J�SSUANCE OF VATERWORKS ,, 8 RKS 73 ONDS k, SYSTEII REVENUE, �T ENCU1,MERING THE CIT SYSTM21 OR TTTE REVENUES THERE-OF, OR 'BOTH$ FOR THE PA)MMTT OF SMT SECTION 8: That a copy Of this ordinance, signed by the 14ayor and attested by the city Clerk of the City Of Wi- chita Falls shall serve as proper notice of said electiorl- SECTION 9: Notice of said election shall be given by postir.g a substantial COPY Of this ordinance in each of the election precincts of the City Of Wichita Falls, and. also at the City Hall in the City of Wichita Falls; such notice shall also be published on the same day in each of two successive weeks in a newspaper of general circulation published within the City of Wichita Falls, and the date of the first publication to be not less than fourteen ( 14) days prior to the //J�/_ daY of April, 1944. SECTION 10: IT IS =EBY DECIARED that the afore- said ordinance is an emergency measure; that in order to pay off, refund and cancel the existing indebtedness of the City' s lAlater- works System and to purchase additional water powers, ( including lands for reservoir) , riparian rights, improve, enlarget extend. and repair said 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 accordingly the rule requiring the reading of ordinances on three several days is hereby suspehded� and this ordinance shall take effect immediately after its pas- sage, and it is so ordained. PASSED AIT th M APPROVED, this e day of March, 1944. Hayor ATTES City Clerk.