Ord 517 5/19/1924 ORD114ANCE NO,
IS OR1,1NANCE '�.UTHORIZITIG THE ISSU'NCE OF
BONDS OF 'CHU, CITY OF ',1ICHITi, TEXIISS IN THE LMOUNT
OF TWO HUNDRED THOUSAND DOLLARS
Y, 711 U R I N G S E R 1.k-, I Yv B P,,,,-R
IN(j T I J T E R'-, T AT T 1' RATS:
am
AND ONLE HALF FERCUITUM(15 112%) PER ANNUMs 1W,11,E nyi*
-,.Nj,1U.1;,LLY ON MAY 1 AND NOVEMBER I OF Bj,.CH YEI�Rp FOR THE
URPOSE OF REFUNI DING hAlKT," A. -MiNT 0 DSqMW,,ID CITY'
ED i*TT-CE 11URPOSE OF CONSTRUCTING IMPROVEMENTS AND
EXTENSIONS TO THE PRESENT SYSTEM OF WATERWORKS IN AND
FOR S.--.ID CITY..
':HIGH 10N WERF DS ISSU-P U ED ND12;R DlffE OF 14OVEMBER 1p 1920O
1.:ATURING THIRTY YEiM, T! EIR D.ATEJ, -tVITH OPTION OF
RT 'V,.",'FTION j,','T fiJ,Y ITNTFR�:ST 11-`.YING PERIOD KFTER FIVE
FR THIFIR DliTE i.N1) BE RING 11TTERiST A'-P THIS' RA'PE OF SIX
P' IRCWTUM 4 6%) Fl,;R IIINUM: AND LEVYING &, '-Pr,X JN Ej"CH ONE
1 TUWDP D DOLLIRS VAUj,'-,TI0N OF Tla-,lBLE PROPER'TY IN SAID CITY
SUfFT,ICIENT TO T,*!y INTERF T ON S,.-ID Ri-]FUNDINIG EOWDS .0rD
TO CR 'ATE A SINKING FUND SUFFICIENT TO REDEEM THEM AT
W.TURITY."
!,'VHEREASjo HERr�OFOREp on the 22nd day of October*
1920$ this Board of Aldermen did$ by ordinance number 326
authorize the issuance of bonds in the sum of Two Hundred Thousand
Dollars* for the purpose of constructing improvements and extensions
to the present system of wa�;erworks in and for said city* and
TME'TAYUPP staid bonds ww re duly and
legally sold brd delivered and are now valid oxitstanding
obligations of the CTTY Or `,TCETV7 FAIIJiZr,# and
V,7*.T I it is possible to refsanfl the said bords
at a lower rt.,te of Interest by the is�uanae r:nd exahan-v,
therefor or reitvAing bends mv.turing serially and bearing
irtorest at the rate of Five and that half !-'ercent= (S 112`ill)
per annum*
TM,M'IF';'/*7Es R'r, IT OPPAINIII, PT TT'T' BIC't?N' C-P
AMERTY OF TTIT' CITY Of ',-,ICITIT!, FAL�K'I TI3":IP,,II":-
SECTIM
T
at bonds of the ovid oityp to be elenwninafeds
CrTY OF 'ITITTP, 24
- r� OF 19
be issued for the purooso of refunding bonds
heretofore issued for the uurpose ofoonstructing improvements and
extensions to the present system of waterworks in and for said citys
which stIC bonds are &0.,od November Ily IV20 tnd i.,tture
NwferUr Ij* 19.50s with option of redlemption at airy iAorcvt
paryin- perloe., af,'tar fl.vc yeirs Pror. dote and benrini; int.creat
at the rate of six -porcentum (ev) per anrum, whlch said bonds
were authorized to i&6ued by ordinanoo nwpDer 326
adopted October 22j# 11,a20.
S SiCTION
S,-`,IT? WrDS shall be nuriilered front one (1) toTwo Hundred
(200 inolusives almll be dented may 1) 1-24j, shall be
in the denorrainatior of One Thoi,sard Dollars (,`31y000)
each and shall i:.-&ture serially v4ithout o1A.ion oIL prior
as rollowat-
UNIT_r,;D
STATE OF TEXAS
CITY CW WICHITA 21`bLL63
BOND.
S1 R I E S C
•
NO. �1,000.00.
The City of IvIchita Fans, a municipal
corporation duly incorporated under and by virtue of the
laws of the State of Texas, fbr value received, is
indebted to and hereby promises to pay to bearer on the
first day of November., 19 , the sum of
ONE THOUSAND DDIZiRS
in lawful money of the United States ofilimerica, with
interest thereon fro-i the date hereof, at the rate of
Five and One Half Percentum ( 5 1/2% ) per annum, payable
semi-annually on the first days of 4Ly and November of
each year.
BOTH PTRINCIP-tLL I)ND INILREST of this bond
are hereby made payable at the Hanover National Bank in
Now York City, and for the prompt payment of the principal
and interest of this bondas the same shall mature, the
full faith, credit and resources of the city of „,ic1lita
Falls are hereby irrevocably pledged.
VIS BJ'ND is one of a series of bonds of
like tenor and effect, except as to maturity, and is
issued for the purpose of refundiniL a like amount of valid
outstandin.,, bonds of the city of 'Nichita Falls, Texas,
which were issued for the purpose of constructin;-,
c,
improvements and extensions to the present system of
luaj,-erviorks in and for said cityi,
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in accordance with ordinance number 326 of the City
of Wichita Falls, adopted October 22, 1920 and by virtue
of an election duly called and held in said City on the
12th day of October, 1920.
111118 BOND is Issued under and pursuant to
the Constitution and Laws of the State of Texas, including
9-nong others Ch-Apter17 of Title 22 of the Revised Civil
Statutes and the City Charter of the City of Wichita Falls;
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and pursuant to an ordinance duly and b gally adopted by
the Board of Aldermen of said city.
IT IS PUI THM, COVENANTED AND AMEED MITT M
HOLDER OF TIS BOND that if this bond should be declared
invalid for any reason the holder hereof shall be subrogated
to all the rights of the holder of the originRl bond
-vOriich this bond was issued to refund.
IT IS H!2�"BY PEPIMSENTEED AND DECLARs,D hat
provision has been made as required by the Constitution and
Laws of the State of Texas for the levy and collection of an
annual tax sufficient to pay the interest on said bonds as
the same shall become due and to pay the principal thereof at
maturity; that the bond which this bond was issued to refund
was duly wthorized by a majority of the qualified property
tax paying voters of said city and is a valid subsisting and
outstanding oblig-stion of said city.
6
027.50
On the first day of May or November 19
the City of Aichita Fall-, , Texas, promises to pay to
bearer at the Hanover National Bnk, New York City,
TWINTY SEVEN DOLL;aS AND raFTY CENTS
being six months interest due that day on the City of
V'ichita Falls, Texas, Refunding Bond of 1924, Series Ca
dated May 1, 1924 and numbered
COUNT-.,;RS IGNE D:
Mayor
City Clerk
SwCTI,-'N EVE-N.
On the back of eacil of said bonds shall be
printed the following certificate:-
OFFICE, OF DIE, WIPTROLLIR 0? PUBLIC ACC(jTJN'2�1�
OF U11, STAT 0? TEXAS.
I hereby certify that thore is on file of
record in my office a certificate of the Attorney General
that this bond has been examined by him as required by
Article 619 of the Revised Civil Statutes and that it has
been issued in conformity with the 'constitution and Laws of
the State of Texas and that, it is a valid and binding
oblig'a4:1or of the City of 1,7ichita Falls and said bond has
this &y been registered by me.
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WY'VY:SS MLY M�,ND 2,11D SEY.L at Lustini, Texas$
this day of 1924.
C,51!i,ptroll—erof Public
.-':ceountra of the State
of Texas.
IT MTRT117) 01-Rt'-ITM) TT TEF BW�`D OF
f
1r%1L1',1''M,,,'z;1.,T[ OF '"I'ME," CITY OF Tv.ICPIT;l Fj LLS* that to pay the
interest an said bonds as the same sh.,11 mature and to
crcute a sinking,. fund sufficient to discharge the Principal
thereof at naturityp there shall be annually levied and
there is hereby levied for the 1924 a tax of .05*12
on the One hundred Dollar valuation of taxable property
in said city; that for the year 1925 and each succeeding
while any of, -aid bnds are cutstanding and u!)Paids
there be computed and a ;certai,--,ed what rate of tax*
based on '-he last approved tax rolls of said cityp will
be required to fully makep raise and produce in each of
said years a sum of money necessary to pay all interest;
accruing and. cominF- due in said ye4.-Ir aiad to provide a
sinkinrr fund s',ifficient -to meet the,' ,-.s they maturev
and -, -111-ax at such Y-ate as shal-I be found -lecessary ( said tax
4n '.,!'Y Yca-o h0w�vcry not to be les,,, than the tax of t5.12
as afores-,id) shall be 1:-viedp asso see, and coll.ec+ed in
e-Uch of said years and. at the tirne other city taxes are
levied* assessed and collected amli the proceeds from said
tax shlall be applied to the purpose named.
SECTIOF WIFE*
IT IS Inf"T" '-) BY STTPULPINED Frith the holders of the
E
original bonds hereintefore authorized and each of therms that
if said refunding bonds or any of them should be held invalid
for any reason the holder or bciders +Jareof shall be aubrog&ted
to v,11 the rir�,,ts or the holders of the ori.e.inal bonds refunded
by this is!-,Ile of bonds.
SECTION
TM K'XT there is an urgent public need for
the refunding of the outstanding bonds of said city and 8,
reduction in the rate n? taxes -*Lr,, sn-,A oit,r for the nresem-,Aior,
of t',-.e health and i7elfare of the co-wainity creates ar, emer"ency and
e, pnbll,c necessity tlmt. the rulo req,,;1r!.rg ordinances to be read
on three son-crate dates be nusperded an(' saiO rule is hereby
suspended end this ordinance shall take effOct and, be in force
i ,�ai-,ed,
iron, and after its rassv- 'e tnd it i no or
T
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