Ord 516 5/19/1924 ORDINANCE NO.
it
j-,N ORD11UNCE b-'GTHORIZL G T11E ISSUI&CE OF
EUNDS OF TBEE, CITY OF ,11CHIT.L FALLS# T" -'ASP r.,' THE
11,110IMN", OF TWO HUNDRED SIXTY THOUSAND DOLLARS
lil-ATURING SERIF L!Yp BF. G !-v TFR`ST AT TIT" PdTE
Or, FIV-.',-,' j4;fljl ONE HALF l-E"-l?G'l3f4TUM ( 5 1/2,-/.) PER 1,11NUMP
PAYPBLE SEMI-ANT,,U.�.LLY ON !,UY I 1,Nbl NOVEMBER I OF
Ej,CH YI-22s FOR TE' : TJ'RFOSv, OF' REF-U-NDING J: LIKE `!JOUNT
OF BONDS OF SAID CITY ISSIRA", FOR THE PURPOSE OF
CONSTRUCTING STORM SEWERS IN AND FOR SAID CITYs
'SHICH BONDS IYERE ISSUT) UbD"ll DA`-'E OF NOVEMBER 1p 1920$
THIRTY YEj,,RS FROK, THEIR D2�TEq '""ITH OP'LION OF
Rllll)E�,--I?T ION AT iliY Px,Y.ING ll-'EiRIOD YIFTER FIVE
YBi.,RS FRO14 TEEIR RATE iNT) BEkRIN(z II TER -T AT TH-1,,
T�`:TB OF SIX F'!i,RC0JTUYl (6%) PT",.P !`NNUm: AND LrlVYIITG 1'.
TAX ON EICE ONE HUNDI-ED YlOLIARS V11LUiTION OF Ti,-YU.BLE
"ROPERTY IN IL CITY S€.jFYiICIENT T"' FY.,Y THE IN'-VEREST
ON S`AID B'014DS iND TO C-%',EjlTE A SINKING F(qlD
SUFIPICIENT TO J'T7L, !X TE,
i AT :I7,s
-If -TURITY.n
1`,IIEREASp HERETOFORE# on the 2 nd day, of Octobers
19ZOP this Board of 2-aldermen did# by ordinance number 324j,
authorize the issuance of bonds in the sum of Two Hundred Sixty Thousand
Dollarsp for the -urpose of constructing storm sewers in and for
said city* and
"0M','R`,F,1j'-.Sj, lmRr!,�FTERs said bonds were duly and
legally sold and delivered and are ow valid ou' standing
ol-1 ions of the CITY TIIICHT`P ?,,�L 'Ss and
OFIEREASP it is possible to refund the said bonds
at a lower rate of interest by the issuance and exchange
therefor of refuil-ding bonds maturing serially and bearing
interest at the rate of five and One Ealf Percentum (5 1/2".F)
per annum.
NO p THEREFOREo BE IT ORD11NED BY M BOARD OF
'LDER 2"lt OF THE CITY OF TEXI..,S;-
SEC!ION ONE,
That bonds of the said citys to be denominated$
CITY OF Tdrj.CEIITA F�L, Sip TEMiSp B,NDS OF 19244
SERIES A # be issued for the purpose of refunding bonds
horetofore issued for the purpose of constructing storm
sewers in and for said citys
which said bonds are dated November Is 192".0 and mature November
Is 1950 with option of redemption at any interest paying period
after five years from day and bearing; intere, ,t at the rate of
Six Pereentum per annump which said bonds -were authorized
to be issued by ordinance r)umber 324 s adopted October 22s 19200
'ECT'ON T470*
SY11) B0141TD8 shall be numbered from one (1) to Two Hundred Sixty
260 ) inclusives sh,-Al be dated May 10 1924s shall be in
the denomination o` One Thousand Dollars (8 10000)
each and shall mature serially without option of prior payment
as follows:-
2
i-,T,'.OUNT, JL i'URITY,
5 inclusive ,-W 5,000 November 1p 1925 V
6 - '410 52000 November 12 1926V
11 - 15 5.0000 November 1p 1927D/
If
1 -�' - 21 6..,0 0 November 1$ 1928V/
22 - 27 C)O 000 November 1., 1929..//
28 - 133 If
_,0()0 November 1, 1930 V//
34 - 39 6j,00"', November Ix 1931
40 - 46 7.,C 0 0 ovember 1p 3.932
- 53 71000 IIovember io 'J,933V
E4 - 31 if 8$000 TNovomber I 1934V
000 November 11 1935v/
U
70 - 77 i--3"0,L)C, 1"ovember i$ 1936V//
- 36 it Op ovemb,:-�r 1, 1937�/
7 - 95
ovedber 1.4 h)3 8 v1
10.,0"'10 11rovember ly 1939V
tp
OUO i'-Ioveu'ber 1,, 1940V
1,17 - 127 11.,G;)C) ovemb e r 11 1941V/
1280 - 139 1"
1"'P 0�")O Uovember 1, 1942\/
140 - 151 1 000 CrVemhc r ly 19431/
13,(Y)o Nov--mber 1, 19,A' .V/
lj5 - 178 140000 ovcmbar 1$ 1945
179 - 193 15,Ow Tjo-,rember 1.1 1946V/
194- NOverabor ls 194711//
12, ',10 - '-,5 14 lc,000 11 o v c,n,b e r 1, 19481/
- 2"12 17j.000 ! o-,Tember 1p 1949\/
243 - !-,S 0 18.,000 Novembor 1p 1950✓
3
SECTION THREE,
'9ID BONDS shall bear interest at the rate of
Five and One Half Percentum (5 1/2%) per annump payable
send-annuallys on the first days of May and November of
each yealr.
SECTION FOUR,
TH13 PPI111CIPIL f-�ND INTEREST of said bonds shall
be payable on presentation and surrender of the bonds or
proper coupons at the Hanover National Banks New York City,
SEC`_ TON FIVE*
SAID BONDS shall be signed by the Hayorp
countersigned by the City Clerk and registered ',,)y the City
Treasurer and the corporate seal of said city shall be
impressed on each of them and the fac-simile sigmatures
of said Mayor and City Clerk shall be lithographed on the
coupons attached to each of said bonds*
SIX.
SAID BONDS END COUPONS shall be in substantially
the following form:-
4
UNITED STATES OF EMI-RICA
STJ�TE OF' TEXAS
CITY OF WICHITA FALLS
POND.
SERIES L'a
NOe $10000,00.
The City of 7'ichit;a Falls# a municipal
corporation duly incorporated under and by virtue of the
laws of the State of Texass for value receiveds is
indebted to and hereby promises to pay to bearer on the
first day of Yovembero 19 # the sum of
ONE THOUS1,ND DOUARS
in lawful money of the United Stv.tes of 1,mericap with
interest thereon from the date hereof# at the rate of
Five and One "alf Percentum ( 5 1/2%) per annums payable
semi-annually on the first days of May and November of each
year,
BOTH PRDCIPj-iL I.N1, IN`MUST of this ond
are hereby made payable at the Hanover National Bank in
New York City, and for the prompt payment of the principal
and interest of this bond as the same shall matures the full
faith$ credit and resources of the city of Wichita Falls are
hereby irrevocably pledged.
THIS EOFD is one of a series of bonds of
like tenor and effect* except as to ma+.Uritys and is issued
for the purpose of rel'undinC a like ,,mount of valid out-
standing bonds of the city of Vfichita Falloj, Texasp which were
issued for the purpose of constructing
storm sewers in and
for said citys
in accordance with ordinance number 324 a of the City
of vVichita Fallsp adopted October 22a 1020 and by virtue
of an election duly called and held in said city on the
12th day of Octoberp 1920.
THIS N)ND is issued under and pursuant to
the Constitution and Laves of the 3a-.ate of Texas., including
canon others others Chapter17 of Title 22 of the Revised Civil
Statutes and the City Charter of the City of Wichita Falls;
and pursuant to an ordinance duly &hd le;.1',ally adopted by the
Board of Aldermen of said city.
IT IS "FURTHER CO"V''!N2'JTTFD P11r, I'GMED MTH THE
HOLDER OF THIS 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 original bond
which this bond vas issued to refund,
IT IS HEREBY R-`1PRrSb1,TTED -P,,ND DECURED that
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 t1le interest on said bonds as
',-he same shall become due and to pay the principal thereof at
maturity; that the bond which this bond was issued to refund
was duly authorized by a majority of the qualified property
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tax paying voters of said city an(.'- is a valid subsisting and
:)uts�-,anding obli4ption of said city*
6
I'J' IS FURTHER RBPR`'4SENTED rND DECLARED that
all acts conditions and things required to be done precedlent
to and in the issuance of this 'bond have been Oroperly Jonas
have happened and have been performed in regular and due
form as required by the Constitution and Laws of the State
of Texas and by the City Charter of the City of VVichita Falls
and that the total indebtedness of said city including this
bond does not exceed any constitutional or sl.-,atutory limitations
IN WITNESS INKTREOF the City of Wichita Falles
by its Board of �,ldermens has caused this bond to be sigmed
by its Mayors countersip'ned by its City Clerk and registered
by its City Treasurer, with its corporate seal impressed hereon
and the annexed interest coupons to be executed by the lithographed
fac-simile sirn,,<tures of said Mayor and City Clerk this first
day of Mays 1924.
Mayor
COVIN"'',"RSP--VED: City of Nichita Falls.
City ClerE.
REGISTERED t
CIty Treasurer.
the interest coupons attached to each of said bonds
shall be in substantially the following form:-
7
NO, 427,50,
On the first day, of May or November 19 p
the City of 'Kichita Falls$ Texas$ promises to pay to bearer
at the Hanover National Bankj, fiew York Cityp
URS �''IIL FIFITY MITS
being six months interest due tha. day on the City of "Achita
Fal.1s., Texas$ Ref,,-,-nding .pond of 1924# Series A 'P
dated Iay 1.* 1924 and numbered
i —
MUNT71iRSIMED: —Mayor
--Y711—y C!XRK,
On the back of each of said bonds shall be printed
. he following certificate:-
OFFICE OF `CIF COMITROLLER OF 111BLIC 1,CCOUNITS
OF TEE STD`TE OF TEXAS*
I hereby certify that there 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 'Irticle 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 obligation of the City of 1,7ichita Falls
and said bond has this day been registered by me.
8
'N,1T1N7,S'7 Ttlff ILLNT, !ND UAL at hustinp Texasp
this day of 1924.
Kccounts of the State
of Texas.
37M V BIGET9
ML OFMEBE W RM DAMID A BOA MMITT
OF TV CITY OF 7GAV A.Sp that to pay the interest on said
bonds as the same shall mature and to creote a sinking fund
sufficient to discharge theprincipal thereof at paturityp there
shall be annnally levied and there is hereby levied for Ae
y ar ISAy a tax of ,C6*7 on .-lie One Hundred Lollar valuation
of tamable property in said city; that for the year 1925 and
e-ch oucceedinr year while any of said bonds are outstanding
and unpaid$ there shall be computed and ascertained slat rate
of tax, based on the laA approved tax rolAs of said cityp will
be required to fully nakeo raise ane produce in each of said
years a sum of money necessary to puy oll interest accruing
and coming due In said year and to provide a sinkinp fund
sufficient to meet the zaid bonds as they matur, and a tax at
such rate as shall be found necensary ( said tax in any years
hounver, not to be less than the tax of 406*7 f as aforesaid)
shall be leviedp assessed and collected in each of said years
and at the time other city lanes are levied# assessed and
collected and the proceeds from said tax shal be applied to
the purpose named*
SECTION NUT,.
IT 13 Tie"719Y STIPT3L!-T*t-':T,, with the holders of the
ori,sinal bonr'-s hereinbefore authorized G.ncl. e ch of them,, that
if said refunding bonds -Ir an7 of tl-.em should be held irvalid
for any reason the holder or holders thereof shfsll be sulbro,,-Pted
to ° 11 the rights of the 'holders of the ori .-gin.ql bons rePtinded
by this issue of I)o:rds.
&`CT TON TIPIT,
TM,17 t.ICT that. there is an ur-ent public. reed for
the reftmding of the outslandin�, bonds of said cit."r and, a
reduction in the -rate of tay:es ir, cn;f5, ci+,-- for Ahr -71 s r f-t- n
of the health and wb(fare of the. cor.:muln-',ty orvates an eno--!-�menoy
and, a public necossity that the rule r-c-ArIn- or(-.Iinf:ncew to be
react on three separate dr..tes be suspended smd scid rile is !-!(,r,,,:bv
suspended and this ordinance sh-n.11 `--,ke fffect andl be in force
from rind after it. &snCe ard it is s 0 ore�ti,,, je
10