Ord 1308 9/23/1940 1308
"AN oRDIMS CS by the Board of ti-lderman of the
City ofw1ohite Falls, Texas. nathorizing
the issuance of bonds in the principal sua
of #400,OUC.00, designated as IGITY OF
Ta;��$ WATAMML, MTW
r�L,,vLNuX Duj.j�,L for the purpose
of Improving, enlarging, extending and re-
pairing the Waterworks ,.�-Iystem of said QIty;
prescribing the form of bond, interest oou-
pons ond certificates of registration*
pledging Via revenues of the City's water-
works �;yst= to the payment of principal
and interout or the bonds uftor providIng
for the expense of operaUng said System;
further securing said bonds by a mortguge
on all the properties o=pri$ing the City's
entire Waterworks �5yatem, acquired or to be
aoqalred; ouaoting provisions incident and
relating to tho sub3oat and purpose of this
ordinEaoe; and dealaring an amarg0noy."
W11M1"-8, on and prior to the l2th day of �;eptembar,,
19380 the City of Wichita Fallso Texas,, owned and operated Its
Waterworks �;ystem; ande
WHZRUZ�, under and by virtue of an ordinance duly
passed and adopted by the )�oard of Aldarrwn of the City of Wichita
Falls, Texas, on the 12th day of W"--'epteaber, 1938, an election was
ordered to be 1held in said City on the 30th day of 6eptemb*rx 1938,
and at which elootion the following proposition was submitted to
the qualified elootors, of said City:
"tAIALL the board of kldermon of tho City
or wichitu Fallso Texas,, be authorized to isatte revenue
bonds in the nxwant of FOUR HUMM 'rM01VWJW (000*000,UO)
D�UkR6 to nature serially from 1 to 20 yoars from the
date thereof. boarin6 IL-itereat at tj-;e rate of 0 per annum.
payable sami-tinnually; and be authorizod t-o encumber the
Water �Iorks i;ystom of ould City, and the rranohise and In-
come thereof and everything pertaining thereto acquired,, or
to be acquired, to secure the payment of said bonds, to
build, improve, enlarge, extend and repair suab Water
;5ystea?11
Aj.vD W, icts, upon consideration of the returns
UNK
of sold 0166tiOn, the Boord of A140rMOU fOund that said 0100-
tion had been conduot0d in the manner pr000ribed by law, and
was in all respoots legally heldp k1fter propor notice
as required by law; thL*%O due retuj= Of sold election had been
made by the proper officers; th&t "id 0180tiOn resulted favor-
ably to the issuance or said bonds# tLat a majority Of the
k1uslif,194 elaotoruo Voting. at "id gleationo voted iz favor of
f jaid bonat,; tkI14; tile 13o.-rd of rldermn Is
the issuance, O_ V W
in &.11 things LUtLorl"d tO ibuuO said '��ondn and to do any and
all things n0ces,,jal-y and/or oonveniont in connection therewith;
therefores
BLP 'OLT ORDAINED BY IrIz DURD or 'ALMU44A4 OF TIM
01'ry UY wician Tw'st as follows:
That, in order to borrow the said
sum of FOLM jjUMjW 1,MIOUbAND DULIAR6 (#W0*0U0 -0Q) 0 for the
purpose of improving. onlargings extend.Ing and repairing the
stoz -d of ',lderulen Of the
Waterworks By I or said City* the i3oui
City of Oichita pullas Texoss by virtue Of authority expressly
conferred by tile qualified electors of said City) at the afore-
said election, and pursuant to the laws Of the �>tuts Of Texas*
particularly i,.rtiales 1111 Ot 00'4- o rexpe lievised Civil iAatutGO
of 1�215V as aja-en4ado lo�s determined to provide for a series of
ooupon bondS s, to be designated "ClTY Op ,,JC14aV� T;Qj-,So
Y Z11- V��, , payable as to both
';,',UV,� I,,,
prinoipol and iuteruSt zolely rroja tLe revenues Of tile City's
Waterworka ;;�YStftls and further secured by a first mortg(AgS On
tile Gityts entire viaterworks JyatGms said encumbrance on said
revenues to be an "014sivo tirat li011 OR vud pledge of Suid
J.
revenaeso artair thO 4ad40tIOL 0'0 the reasoliable eXPOU808 Of
operatixW, find Maintaining said y4aterworks E413t0mo as Lw-Id expenses
are defined by ststutO-
0. sa'-,d boud6 51,011 be numbered
Oil
-�M.T.-I ,
landrod k4o�c ) p both inalu-
eonsecutivoly, Mr. une (1) to rolur il
11 DQUAR�;
Siva; shall be of vl�o donomin*tiOn Of 0,"i�Z
I -V 'AM
00.00) occu; the Is"A Of ll%M� "T�i
($100 16
DOLLIJiS (4400v000-00) -
iviat said bonds be dkited the
3:
rIllf"iT my or ccwmmo ond sholl b000gis due and petyables
seriullys according, to tho -ollowing sohadiLle:
BOND Illum=1 W-.TMITY WITM; ilUUNT.11;
.........
-Lail
That the priAO11)61 Of and interest
on said series of bonds shall be payable on presentAtiOn and
surrender of bonds or proper cOuPOUSs in lawful money of the
United 6tates of Ameri0a a at
�MTIAAL That each of said bonds shall be
signed by the kayor,* 0ountersigAed by U10 City GlOrks and
sealed with the sea, of the Gityl and the interest coupons
attached to said bonds shall be executed with the li%h08r*'P'h-
ad or printed facsimile signatures of said officers; and each
bond may be registered as to prluelVal only by U�o (;ity Clark,,
at the option of the holder.
I., That the bonds to be issued hereunder
att ached horetOx and the Trustee's Corti-
and the cOaPOn8 to be on the bonds,, and Comptroller's Cortifi-
fjoato to be endorsed ntially in the following famag respoOti-
onto, are to be substa insertions and variations per-
Volyo with appropriate Omission$,
mitted or otherwisev as hereinafter provided:
(?OjW. OF BOND)
UjjjTFD t;TATLb OF 141BRICA #142a.—O—O
STILTL Or nw"as
GOUNTY Or WICHITA.
CITY OF Vaclay. Txuao WATMMOML,
Z�r,;TW Wlpov"�T RIMMUN BOND-
?OR V�uLVB Rj.GjaV,=8 the City of wiohitU Vallss in
the County Of V40hitss 6tate of Texas* hereby a0knowledgeS itself
Indebted too and hereby prOM18os to Pay the beararg ors if this
bond be re stored as to principals to the registered holder here-
of$ as horainaftor stated$ the sum Of
()NE Tliousi14D. DOIJAW
0 U) 0 01, the F11WT D11 oF APRIL v in 141Wf ul AOn6y
of tr pay Interest thereon from
"a United States of IMerioal, and to
the date hereof at the rate of
ium. payable s9xI_&nr1'ualjy on April Ist and
per unr first interest payment date being
ootober Isto in Such Year, paid$ UPOn the
'A
.'Pril a 19410 until the prinaipul sum shall be
prsseut8tiOu and s=Onder of 00QpOns hereto appertaining as they
severally beo0=0 dus's' both prinoLP01 and interest shall be payable
at
and the said City Of %johita palls, Texass is hereby tield and fim-
ly bound to apply the pledged appropriated revenQos Of its water-
works 46t= to the pronpt PaYusat Of prinoiPal and interest Of this
bond at Maturityl und to Pay said prinaipal and interest as they
mature* Tjjj�; BOND Is One Of a series of bonds Of like tenor
and W00t* ex0ept as to number Bud Muturity's a6gregating the
priuolPal OUR Of YOUR HUNDRED THOU"" DOLLklti" (#"09000-00"
n=bored consGOutivsly from One (1) to Your jjun4red (40000 both
inolusives in denomination Of one Thousand Dollars (4s000-00)
000ho and is issued for the purpose Of improving* sulargingo
extending and repairing the Waterworks 5yatem of said GItY Of
W10hita Texasj in n000rdanoS with %he Constitution and
laws of the Qtsts Of Texas, partiOularlykrtlolOs 1111 Ot Oeq- 0
of tkle wrexas Revised Civil Lite�WtOs Of 1925t as nzendeds by
authority of 4 vote Of the qualified property taxpaying voters
of said CitYs who had duly rendered their property for taxationt
vot4,.n,g, at an eloation hold on the 30th dtty of 66ptambor* 19389
and pursuant to an ordinanoO passed by the Board of iademOn Of
said City, and duly r000rded in the �4aut" of said i3oardo
IT IS
%-By DSCJj�R�Z AND R1U4('W' HHTSD thut In
Issuing this bond, and the series of whi0h It is a part, the
city Of Vii0hita. rallas Texnss by ordinances and as required by
laws haij covauented and agreed W operate and maintain the
%aterworks 6yStQM and to charge and 001160t at all times suffi-
clout rates for services to pay all operating alld MiUlOUS3100
expenses, together with 'principal and Interest of these bonds
as they MUM "at all acts, conditions and things required
to be done precedent to and In the isBubuce Of this series of
bonds, and of tills bond, have been properly done aUd performed
and have happened in regular and due times fom and manner$ as
required by low; and that said bonds are issued under and in
accordance with and are all 8AUAllY secured by a Trust Indentures
or ,Uiortgage thereinafter referred to as the "Indenture90 dated
as of the first day of October$ 19408 given by the City Of
,V,�Jojijta Fallas Texas, to City National Bank in bichitft Full8s
k1johite, yallso TexxAs, (hereinafter sometimes referred to 00 the
"Trustoo") o as Trustees wherein ozd. whereby the City has mortgag-
ed Its entire taterworks I.;ysteml and all the revenues Of the mid
,�,,'ystem, after deduction of reasonable operation and maintent'nOe
expenses, to whloh Indenture reference is hereby made for a
do seription Of the property mortgaged and Vloft*dr the nature of
the security and the rights of the holders hereofs and of the
Trustees and of the City. in respect of Such 000urity,
mM HOLDEN RMSOF shall never have txile right to
demand paymen% of tills obligation Out Of tiny funds raised or to
be raised by taxation.
IN CkSE an event of defaults an definod In the
Indenture shall 000ur, the principal of thia bond and all other
bonds secured or to b0 seourea thereby$ may become or be doolar-
ad due and payable at tile time or timeas in the manner and with
the gffaot provided in the Indenture.
AT T11,S 01�TIQN OF TILE ItOLDUR this bond sAy be
registered an to principal at the Office Of "a City Clark in
the r
',ty of Wichita Falls$ 6tate of 11exast and suoh registra
tion noted hereon by the City Clark, as liegistrar. kfter suoh
registratioto a�Vn delivery to the City t;lerk of a written
instrA=Ont of transfero 1z ttLe fo= approved by the City Of
viiehitu F61lut executed by the registered holder in person or
by -his attorney thereunto duly authorized$ this bond may be
transferred,, unci such transfer shall be similarly noted hersons
and no transfer hereof shall be valids unless so made; but this
bond may be disahargod, from registration by being In like zs=er
transferred to bearer,, and thereupon transferability by delivery
shall be restoredg and this bond may again from time to ti=G be
registered or transferred to bearer as before. No such rogistra-
tion shall affoot the negotiability of the coupons appertaining
heretos wl,joh shall oontinae to be transferuble by daliverys
merely, and shall remain payable to bearer,
NUTHIR Tliji; JsOND nor any interest coupon apper-
taining hereto shall be or become valid or obligatory for any
purpose unless and until this bond artall hove been allthOnti06t6d
by the execution of the oertifictitS endorsed hereon by the Trustee
or its successors in trust under tl,,e indenture&
IN IMT111011Y W"WWo the City Of Wichita Yalls'
Texas, by its Board of ;,ldermens has caused this bond to be signed
by Its "- yor and aountaraigned by itu City Clork und sealed with
the sea, of ;�ajd �:jtyj' ,,Ind I,&$ ojuuaad the unaoxed coupons W be
signed by the litbographad or printed facsimile signatures of the
gayor and city Clark; the date of tilia bonds, in conformity with
the ordizanee herainabovO wentionedg autliorizing its issusnOO*
beinp, the first day of October, 1940,
— iM
f ta
--Lbyor f
COUNT
ta -Tl�also
LIty of UlOhitA
Texas*
(Fuj,v. oy jull,"M1,6T
N
the cl!"L OF WICIZV� Fi,�IL08s, a rjunicipal corporation Of t1l* Z;tate
of Texas,, hereby promises to Pay to the bearer, out Of the funds
specified in the bond to which t148 coupon is attached, and in
lawful money of the United Litutes of America$ at
the sum Of
- - - - - - - - - - -
said S= being months$ interest
that d.&y due on "CITY Op wlcMTP-. r;,1-1Zo �;s V'fATERW(X'=- 'iySTSM
IMMOVAIMT M&MU, BOND$ " dnted Ootober 1940. Bond No.
Tgy—or.
IT IS IWILHY caTIFIED thut, tills bond is one Of
tue series of bonds described in t&,o Trust indenture executed by
the City of WiciLito pallso Texast to the undersigned Trustees 88
of October 10 1940.
CITy wTIoNAL DQM IN 'WICIaTA FAUSs
W-Walu T-
Trustees
it
(FO"fi
OFFICF, OF rV%U!:"PTII0LLVW0
sT;-,TL or TW,3-
I JjMn;BY CEPTIFY that Viere is on file and of
r000rd in my Office FA certifice.te of the Attorney General of
-tate of 4"Oxast to t1jo effect tAist this bond hoe been
this ,
examined by him as re,,.juired by laws and ta,,tst he finds that it
has been IaLued In oonforuity with tile C-onstitution and laws
of the ;4tate of Texhao cud thut it In a valid and binding
spe0jul obligtition of the Qity of Wjauita Falls$ Texass payable
from the revenues pledged to its paymen't by and in the ordinanae
authorizing samSt and said bond has this day been, registered by
Me
y-#jnm,'-,j 0Y YY JI?FICS at Austins
Texass this the day of -9 1"0*
of the 6tate of Taxes,
( "REGIbIMMU14 Clot TIFIC"'ITS41)
(No -writing hereon ex0ept by thO 6itY (;l6rk Of
the G�jty Of Wj0hita Fulls,, Tezt-tsv as Registrar) :
PAME OF RARIAMIMN IN W
city 019-rg
city or
M ty
city (;Iery
GI ty-'MR
Ilia% the Layor and City Clark will
immediately execute 8 proper Indenturel, or Deed of Trust,, mak-
ing effective the lion on the Cityta entire Waterworks 6yatom*
and on the revenues and income of such 6YOtOmo to pay the bonds
and interest thereon an they mature, naming the CITY IAAT1011AL
W.NK III 1710laTk r1,1,L4;q -t1Gh1T1_.L V.1A;b1j TE:o-At�1, as Trustee; and the
said uayor and City Clerk shall rile v. duly authenticated OOPY
of such indenture with ths City Clerk, and the O"W Shall 9180
be placed of record in tit* Deed of Trust and UorUago h000rds of
yj,lohita Gountyg, Texaso �mong other provisions, the Indenture
shall stipulate and provide for a grant to the purabasor or pur-
chasers under any sale or foreclosure thereunder* a franchise to
operate said Waterworks 4yateme and properties so purahasedo for
a to= of twenty 00.0) years, dating from the purabases subject to
all laws regulating 80=0 then in force; suoh franahisa, to becono
operative and effective only In the event Of sale or the water-
works ',ystem under foreclosure proosedings; and as provided and
authorized by t4eetion 122, of the Miarter of sold City$ Ouch
franobissmay be terminated by ordinance at specified intervals
ut the and of such five (5) year period from and after date of
purchase of Said It.;ystan and properties under foreclosure proceed-
Inge. The term "specified intervals" is hero construed to mean
that any ordinance adopted by the Board of itldormen for the purpose
of tominating such franchise shall be adopted by said board within
one month from and after the and of each rive (5) year period dur-
ing the ex:L8%OnQ* Of such twenty (20) your frandhiast, whenever the
City shall detemins to acquire by condemnation or re-purahave said
system and all proportion necessarily used In or conveniently UAQ-
ful for the operation thereof; and the method of determining the
price to bo paid for said 6yetex and proportioul In avant 0OUdOmm-
tion proceedings are not instituted by the CitY# Shall be by
arbitration as provided by the statute$ Of this '"Utss with the
right of appeal reserved. i5uoh franchise shall be subject to the
right reserved by the Qity in 600tion 123 of its Charter; that 10
to say__.M
(a) 11b repeal tho same by, ordinance at
any time for misuse or nonuse;
(b) To require proper and adequate
extensions of the 6yetom and service, and the mainto-
nano* of the '�;'ystem and fixtures at the highest
practicable standard of efficiency;
(o) To establish reasonable standards
of service and quality of water furnished consumers
and to prevent unjust discrimination in service or
rates;
(d) To prescribe the form of a000=to,,
and at any time to examine and audit the accounts and
other records of the �;ystea; and,
(9) To Impose such other regulations
as tay be conducive to the safety, welfare and a000mo-
dation of the public.
All rights existing, under saoh Indenture shell be
and tire hereby expressly recognized and incorporated herein for
the protection of said bonds and their enforcement,
3A
,MH Vi That a .0,peoial Fundo, which Is hereby
created and designated as "SPECIAL WIM2MORIV.; SrUM REV121VI B014D
VM$ " shall be set aside out of the operating revenues of the
Citylls Waterworks 6yetem,, after deduction of reasonable operation
and maintenance expenses, as said expenses are defined by statute*
and which bpeolal Fund shall be maintained and used for the payment
of principal of and Interest on atAd bonds at maturity,, and for no
other purpose; and the Trust** In Lereby nAmed and designated as
the custodian of asid bpeoial Fund, and that to create said, 6peoisl
S
fund, a sufficient amount of suoh. iaoome and revenues of atid
Viaterworks ��ystom is liereby Irrevooably pledged and set aside, and
such, income and revenues shall be at all times sufficient to pay
pronptly the principal of and interest on said bonds when and as
the name mature, on the zaturity Otas heroin proscribed, and the
City hereby covenants and agrees that oat of the income and
revenues of its said Waterworks system it will duly and punctaully
deposit the following amounts with the Trustee, end the City Clark
of said City is hereby authorized, ordered and directed to remit
saoh amounts in equal monthly installments direct to the Trustee,
and whioh deposits art to be bold by said Trustee and ypplied
solely to the purposes herein stated; and such income and revenues
shall be at all times sufficient to produce the followina amounts
in the following years$ so long as said bonds, or any interest
OOUPDUS thereto appertaining, shall be outstanding and unpaid;
Met in to any---
buoll total amounts shall be deposited in such
special Yund In 6,lual monthly instalLuents on or before the
— day of each month'$ und 00 long as said
bonds and interest coupons, or any Of said bonds or 00U.Ponst
sball be oUtstan4ing and unpaid* the Board of A148meu Of
said City shall fix and maintain rates and collect charges for
t
.he fRojUtieg and services afforded by its Waterworks 6Yat6me
whi0h will produce revenUSO sufficient at all times:
(1) To pay for all Opsr&LtIOns maintenaU06s 40-
proolation# replaOSMOut and betterment charges of the said
,�;aterworks LiYOtGu;
( 2) To establish RUd maintain the said "SPXCM
WAMVi,ORXZ� ,:;YOTA� ULVIWVU BOND MND"; and,0
(3) To pay all outstanding indebtoduesS against
its said waterworks 2yst8mo, other than the said bondso as sAd
when the same becomes dueo
Any funds rsmalniUg On hand,, after provision for
the maintenance and oporatiUg OxPOASOO Of the Waterworks Ziystsms
and after paying the amount required to be paid into the n6pECIAL
an above provid8do may be
WATURWORYU! -"A5TVM RVIMUR WND FM1,
used by tile 01ty for any other purpose permitted by IRW,
The Mayorg City Clerk and City Uanager
are hereby instructed and directed to do any and all things U6068-
Sary in reference to tile installing and maintaining Of a OMPlOtO
systaju of records and a0aOUUts POrtaining to said LiyStsms, and to
make the 1,40nies available for the payment of said revenue bonds
In the MSMISr provided by Article 1113* Levised (AVU btutut0s Of
19Z50 a& amended by Chapter 122t Acts Of the "gillar �46ssion of the
l'orty-third Legislature ; the fiscal your for the operation Of such
Ltystem shall be January lst to December 31st Of oaah year; and the
remaining part of 194U shall constitute a fraotional part of a fis-
0al your; and tiny PurOhns1w Of tw8uty-fi" (25) Per Oentm In ag-
gregate prinoipal azount Of the bonds at the time then outstand-
ing or any holder or holders of twUntY-fivs ( 25) per oontUM Of
said amount Of Outstandiu6 bondsp shall have the right at all
reasonable tilaes to inspeot tile :ystqz and all reeords, a000unts
and data Of the Gity relating thereto&
it Shall be tile duty of the Unyor to
submit the r000rds of said bonds, and the bonds# to the Attorney
General of the :)tatO Of T8=4 for approval* und thereafter$ to
have then registered by the Comptroller of the S'..;tate of Texas,
After said bonds have been approved by the Attorney usneral and
registered by the 6tate CorWtrollers as herein providodo they
shall be delivered to the Trustee, and by the Trustee authentiVat-
e4 and delivered to the purobaser or purahasers thereofj upon
written order of the Mayor.
"C1101-4 19;_ it is hereby deolared that the afore-
said ordinanoe Is an emorgenoy meauure; that in order to Improve*
enlarge, extend and repair suoh Waterworks j;ystem at the earliest
possible date* thoro exists urgent publio need for preservation,
of p8a060 health and safety of property that this ordinunee shall
take offeat froja end after its passagO. and It is so ordained*
M15.3ED i.ND t,4�1SOVEDi, this the day of
:;eptember,
IFF WGhita lrall;,
Texas.
AT=5T_-_.
7
--clerk ci f W10hi
UIVY M
(City lisal)
'�2 01TY UL&a
TIM 7
CITY 0-Y 141"WLITJ�k ITALL6,
COLMTY OF WIC11111M. 0
it J. 11. Crouch, City Clerk of the City
of Wichita Falls. Texas* DO IMHUBY OVITIFY that the for*-
going Is a true and correct copy of Ordinance No* 1308
adopted by the Board of Aldermen of said City on the
23rd day of 6aptember, 1940, at a -regular
meeting of said Board of -Alderman, and that it has been
properly enrolledt placed in the office of the City Clerk
and approved by the "yort havind been recorded in Or4inanos
Book No, 8 Qr the Ordinance Records of uaid Uity.
c*r
ky '1411-JiL. i"A'k'L 01; Tlk�' �4'11) ITY
0".141 Vllcil'��'.'A`Z`-- rjI.L�v "'E". this the 25th dt,,y of
lV40'
�7uty- Clerk, of UNCE1
ta
ralist
(city �iaal)