Min 08/12/1957 158
Wichita Falls2 Texas
Memorial Auditorium Bldg*
August 12, 1957
The Board of Aldermen of the City of Wichita Falls met in called session on the
above date, in the Council Room of the Memorial Auditorium Bldg., at 5:0,') O'clock P.M.,
with the following members present:
K. C. Spell Mayor
J. D. Ha112 M.D.
Stayton M. Bonner Aldermen
Avery Mitchell
Geo. T. Henderson., City Clerk
H. A. Thomason City Manager
J. Walter Friberg City Attorney
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A quorun being present, Mayor K. C. Spell stated the purpose of this meeting
to be, among other things, the opening of bids for purchase of Ferrous Sulphate.
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As advertised, bl..ds for purchase of 45 tons Ferrous Sullphate were opened by
the City Clerk and read aloud by the City Manager. The bids were as follows:
Thompson-Hayward Chemical Go, $24.00 per ton fob Sayreville., N.J.,, frt. rate $1.40 per
cwt. via all rail; $1.32 per cwt. via sea-train.
Terms, Net, 30 days.
Chemical Supply Co. $24.00 per ton fob Sayreville, N.J. frt. rate (corrected)
per local I,,IK&T Rate Clerk, $1.40 per cwt.
Terms 1% - 10 days.
Moved by Alderman Mitchell, in view of the fact that the above bids are
identically the same with reference to price and freight rate, V= the City Manager be
and he is hereby authorized and directed to purchase from the local concern, Chemical
Supply Co., providing they can make quicker delivery.
Motioh seconded by Alderman Bonner and carried.
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Moved by Alderman Bonner that the Board of Aldermen does hereby authorize payment
to J. C. Oliver the silm of $8027.64, final payment for the construction of the pump station
and installation of pumps, and direct the City Clerk to draw a check for the same, payable
out of Water Bond Improv. Ser. 1955 fund.
Motion seconded by Alderman Hall and carried.
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Moved by Alderman Bonner that the Board of Aldermen does hereby authorize payment
to J. C. Oliver the sun of 9831,,795.70, final payment, inclusive of Change Order increase
of $818.38, for water Booster pump stations and direct the City Clerk to draw a check for
.the same, payable out of Water Bond Im�rov. Ser. 1955 fund.
Motion seconded by Alderman Mitchell and carried.
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Moved by Alderman Bonner that the City Attorney be and he is hereby authorized to
employ the services of Attorney Ernest Robertson, as co-attorney in the case of Weeks Park
lawsuit against the City of Wichita Falls.
Motion seconded by Alderman HaIl and carried.
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159
Moved by Alderman Bonner that the meeting be adjourned,
Motion seconded by Alderman HitcheJ-1 and carried.
The Board of Aldermen then adjourned.
APPROVED this the _day of 1957.
May6r-
ATTE
I-
City Clerk
160
THE STATE OF TEX�S
COUNTY OF WICHITA
CITY OF WICHITA FALLS
On this the 30 day of August, 1957., the Board of Aldermen of the City of Wichita
Falls, Texas,, convened in called meeting, at the regular meeting place., with the following
members present, to-.Qit:
K. C. Spell Mayor
D,�--. J. D. Hall
Avery Mitchell Aldermen
J. B. Jarratt
Geo. T. Henderson City Clerk
and with the following absent: Bill G, Hale., Stayton M. Bonner, and Tom C. Foley, consti-
tuting a quorum,, at which time the following proceedings were had:
Alderman Jarratt presented for the consideration of the Board an ordinance and
made a motion that it be passed. The motion was seconded by Alderman Mitchell. The
ordinance was read in full by the City Clerk.
The motion carrying with it the passage of the ordinance prevailed by the
following vote:
AYES: Aldermen Hall, Mitchell and Jarratt and Mayor Spell.
NAYS; None.
The Mayor announced that the ordinance had been passed. The ordinance 4s passed
is as follows:
ORDINANCE NO. 1785
BY THE BOARD OF ALD&UI&N OF THE CITY OF WICHITA FALLS., TEXASj, PROVIDING FOR THE
'I
ISSUAINCE OF CITY OF WICHITA FALLSY TEXAS, K tM 11,1PROVIIIENT AND EXTENSION BONDS, SERIES
1957,t IN THE AGGREETATE X1,1JUNT OF $500.0000.00; BEARING INTEIiEST AT THE RATES HEREIINAFTLU
SET FORTH., AND PROVIDING FOR THE LEVY, ASSESSMENT AID COLLECTION OF A TAX SUFFICIENT TO
PAY THE INTEREST ON SAID BONDS AND TO CREATE A SINKING FUND FOR THE REDE�.IPTION T�HEZREOF AT
MATURITY.
WHEREAS., heretofore on the llth day of June, 1957, the Board of Aldermen of the
City Of Wici-LitaFallsip Texas., adopted a resolution calling an eloction to be held in said
City on the 29th day of June, 1957, on the following proposition:
"Shall thd Board of Aldermen of the City of Wichita Falls.$ Texas, be authorized
to issue the bonds of said City in the sum of $500.,000.00,, maturing serially in such
installments as may be fixed by the Board of Aldermen, the maximum 0 maturity being not
more than Thirty (30) years from their date, bearing interest at a rate not to ex:'ceed
Five (5%) per cent per annum, and to levy a tax sufficient to pay interest as it
accrues and pri-ncipal as it matiires on said issue of bonds, for the purpose of :Uqprov
inE; and extending the City's sanitary sewer system., as authorized by the Constitution
and laws of the State of Texas.
and
WHEREAS,, said election was duly and legally held on the 29th day of June 1957, and
a majority of the legally qualified electors? owning taxable property in said City,and who
had duly rendered the same for taxation, votin- at said election$ sustained the proposition to
issue the bonds hereinafter described by the f-ollowing vote:
C�
"FOR THE ISSUANCE )F S3jrER IMPROVEMENT AND EXTENTSION BONDS" 787 Votes;
"AGAINST THE, ISSUARTCE . JF SF,-O`R 114PROVEiLINT AND EXTL21SION BOIMS11 775 Votes,
as is preflected in the election returns heretofore filed with the City Clerk; and
WHEREAS., it is deemed advisable and to the best interest of the City that said
bonds be issued and sold at this time;
BE IT ORDAINED BY THE BOARD OF ALDERIIEN OF THE CITY OF 1:ICHITA FALLS3 TEXAS:
1, That the bonds of said City to be called "City of Wichita Falls, Texas., Sewer
Improvement and Extension Bonds., Series 1957", be issued-under and by virtue of the Constitu_
tion and laws of the State of Texas and the Charter of said Cityo for the purpose of improv-
ing and extending the Cityts sanitar"y sewer system,, in the principal amount of Five Hundred
161
Thousand (0-500,000.00) Dollars.
2. That said bohds shall be numbered from One (1) to Five Hundred (500)., both
inclusive$ of the denomination of one Thousand ($1.,000,00) Dollars each., aggregating Five
Hundred Thousand ($500.,000,00) Dollars.
3. That said bonds shall be dated September 11 1957, and shall become due and
payable serially as follows:
BONDS NU_ABERS MATURITY DATES AMOUNTS
1 to 30$ both incl.$ September 1$ 1958, WsOOO-00
31 to 60s to September 12 1959s 30sOOO-OO
It September 1., 19160$ 30sOOO-OO
61 to 90$ If September 1$ 1961s 30sOOO-OO
91 to 120$ it September 1, 1962., 30$000.00
121 to 150$ is September 12 1963, 35sOOO-OO
151 to 185,, 3eptember 1$ 1964, 35sOC`O-OO
186 to 2-20., September 11 1965s 35sOOO-OO
221 to 255,, 35.,000-00
256 to 290., " September 1$ 1966,, 35,,000-00
291 to 325, " Septem1ger 1$ 1(P 6 7., 35.,000.00
326 to 360., " September 1�P 1968,
September 11 1969, 35.,000-00
361 to 395., September 11 1970., 35.fOOO-OO
396 to 430., September 1., 1971. 35:000-00
431 to 465, 35,000-00
466 to 500., September 1., )-�_721$
4, That said bonds shall bear interest at the rates as follows:
Bonds Nos. 1 to 220, both incl.2 4 % per annum;
Bonds Nos. 221 to 360, If 3 3/4 % ptr annum;
Bonds Nos. 361 to 500, It 4 % per annum,
payable March 1., 1958., and semi-amnually thereafter on September lst and March ist of each
year*
5. That the principal and interest of said bonds shall be payable upon presenta-
tion and surrender of bond or proper coupon at the City National Bank in Wichita Falls2
Wichita Falls, Texas, or, at the option of the holder$ at the First National Bank in Dallas,
Dallas, Texas., without exchange or collection charges to the owner or holder thereof.
6. That each of said bonds and interest coupons shall be executed by the imprinted
facsimile signature of the Mayor and countersigned by the imprinted facsimile signature of
- ita Falls., Texas., shall be im-
the City Clerk, and the corporate seal of the City of WJch
pressed upon each of said bonds, Such facsimile signatures shall have the same effect as
manual signatures.
7, The form of said bonds shall be substantially as follows:
$1"000.00
NO.
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WICHITA
CITY OF 11ICHITA FALLS
SE�IDR DTROVEIIENT AND FXMNSION BOND
SERIES 1957
The City of Wichita Falls, in the County of Wichita., State of Texas, a municipal
corporation duly incorporated under the laws of the State of Texas2 for value received,,
hereby promises to pay to the bearer hereof., on the lst day of September, 1958$ the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America., with interest thereon from date hereof at
n interest payable March 1, 1958, and semi-a,,-inually
the rate of (i�,o) per cent per annw., I th principal and interest paybble
thereafter on September lst and March lst of each year, bo
upon presentation and surrender of bond or proper coupon at the City National Bank in
Wichita Falls,, Texas.* or,at the option of the holder., at the First National
Wicita Falls., wit�nlout exchange or collection charges to the owner or
Bank in Dallas,, Dallas.$ Texas, and firmly bound and
holder hereof., and the City of Wici.ita Falls., Texas., is hereby held
its faith and credit and all taxable property in said City are hereby pledged for the
r
?rompt oayment of the principal of this bond at maturit, and the interest thereon as it
accrues*
162
This bond is one of a series of Five Hundred (500) bonds of like tenor and effect,
except as to number., interest rate and maturity, numbered from One (1) to Five Fundred (500).
both inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating
Five Hundred Thousand ($500,000.00) Dollars, issued for the purpose of improving 0
and extending-
the City's sanitary sewer systemp under and by virtue of the Constitution and laws of the State
of Texas and the Ch-irter of said City., and pursuant to an ordinance passed by the Board of
Aldermen of the City of Wicl-ita Falls,, Texas
of said Board, which ordinance is duly of record in the minutes
The date of this bond in conformity wl-th the ordinance above mentioned is September
11 1957.
AND IT IS HEREBY CERTIFIED AND H1,CITED that the issuance of this bond., and the
series of which it is a part, is duly authordzed by law and by a vote of the resident., qualified
electors who own taxable property in said City and who had dulir rendered the same -for taxation
in the City of Wichita Falls, Texas, votin- at an e'lection held for that purpose within said
City on the 29th day of June., 1957; that all acts, conditions and things required to be done
precedent to and in the issuance of this series of bondso and of this bond, have been properly
done and performed and heve happened in re.-mlar and due t:Lrae., form and manner as required by
law; that sufficient and proper provision for the levy and collection of taxes ,has been made.,
lv�,hich when collected shall be appropriated exclusively to the payment of this bond nd the series
of which it is a part and to the n I
.9 ayment of the interest coupons hereto annexed as the same
shall become due; and that the total indebtedness of said City of 'N-Iic-;,�ita Falls,, Texas., includin.,
the entire series of bonds of which this is one., does not exceed any constitutional., statutory
or charter limitation.
IN WIT11ESS 1''HEREOF, the City of Wici-.ita Falls, Texas., by its Board of Aldernen has
caused the seal of said City to be impressed hereon and this bond and the annexed coupons to
be executed by the facsimile signature of the I'lla-y-or and countersigned by the facsimile signa-
C>
ture of the City Clerk.
COUIUMIGNED: M�ayor, City of Wic1lita Falls., Texas.
City Clerkp City of Wichita Falls., Texas
*(Bonds Nos. 1 to both incl.,
3 ___/b per annijin;
Bonds Nos, to If 1 11 11
___/0 p nun;
Bonds Nos. to tt 11 Of
/0 per a nun.)
8. The form of coupon shall be substantially as follows:
ON THE 13T DAY OF
_P 1�_
The City of Wichita Falls, Texas, will pay to bearer at the City National Bank
in Wichita Falls,, Wichita Falls, Texas., or., at the option of the holder., at the First National
Bank in Dallas., Dallas, Texas, without exchange or collection charges to the owner or holder
hereof, the sum of ($ ) Dollars, in lawful money of the
United States of America,, being _______p.onths' interest due that day on "City of Wichita Falls
Texas, Sewer Improvement and Extension Bond,, Series 195711, dated September 1., 1957, Bond No.
City Clerk Mayor
bond-, 9. Substantially the following certificate shall- be printed on the back of each
ORFICE OF COMPTROLLER
STATE OF TEXAS
I HEREBY CERTIFY that there is on file and of record in my office a certificate of
the Attorney 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 laws of the State of Texas and the Charter of said Cityp and that it is a
valid and binding obligation upon said City of Wichita Falls, Texas, and said bond has this
day been registered by me.
WITNESS 1,1Y HAND and seal of office at Austin., Texas.
Comptroller of Public Accounts of the
(SEAL) State of Texas.
10. That a special fund to be designated "City of Wichita Falls Texas Sewer
163
Improvement and Extension Bonds, Series 1957 Fund", is hereby c reated and proceeds from
all taxes collected for and on account of this series of bonds shall be credited to said
fund for the purpose of paying the interest as it accrues and to provide a sinking fund
for the Durpose of paying each installment of principal as it becomes due, and said fund
shall be used for no other purpose. For the current year and eac� year while any of said
bonds, or interest thereon, are outstanding and unpaid., there shall be computed and ascer-
tained,, at the time other taxes are levied, the rate of tax based on the latest approved
rolls of said City as will be requisite and sufficient to make, raise and produce in each
of said years a fund to pay the �nterest on said bonds and to provide a sinking fund suffi-
cient to pay the principal as it matures, full allowances being made for delinquencies and
costs of collection. A tax at the rate as hereinabove detexmin6d is hereby ordered to be
levied and is hereby levied against all of the taxable property in said City for the current
year and each year respectively while any of said bonds., or interest thereon, are outstand-
ing and unpaid, and the said tax each year shall be assessed and collected and placed
in the Fund hereby created and the Treasurer shall honor warrants against said fund for
the purpose of paying the interest maturing and principal of said bonds and for no other
purpose,
11. Be it further ordained that the Mayor shall be authorized to take and have
charge of all necessary records pending investigation by the Attorney General, and shall
take and have charge and control of the bonds herein authorized pending their approval by
the Attorney General and registration by the Comptroller of Public Accounts. Upon regis-
tration of said bonds, the Comptroller of Public Accounts (or a deputy designated in
writing to act for the Comptroller) shall manually sign the Comptroller's certificate of
registration prescribed herein to be printed on the back of each bond, and the seal of
said Com-otroller shall be affixed to each of said bonds.
12, That the sale of the bonds herein authorized to City National Bank of
Wichita Falls and First Southwest Company of Dallas, at a price of par and accrued
interest to date of delivery., plus a premium of 345.00,, is hereby confirmed. Delivery of
such bonds shall be made to such purchasers as soon as may be after the passage of this
ordinance upon payment therefor in accordance with the terms of sale.
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Bids for the sale of $500,000.00 Sewer Bonds were opened by the City Clerk and
read aloud by the City Ma#ager. The bids were as follows:
First National Bank in Dallas, and Colinqbi,,n Securities Corp. San Antonio,
Effective Interest Rate 3.92%
Rauscher, Pierce & Co. Dallas, and it r7 Of
William N, Edwards & Company,, Ft. Worth 3-95118t/.
Russ & Company., Inc.,Metropolitan Dallas Corp,
et al 3.99557%
Municipal Securities Co. Dallas., 7a/
Republic National Bank, Dallas, et al 4.0703',/-
Merrill Lynch., Pierce., Fenner & Beane et al 4.0242424,%'
Central Investment Co. of Texas et al 4.03889%
0
First of Texas Corp., Dallas Rupe & Son et al 3.92'54%
City National Bank, Wichita Falls., First
Southwest Co., Dallas,, and Rotan, Mosle & Co.
Houston., 3-91830%
Mercantile Trust Co. et al 3.91149%
plus $1750.00 payment to them by City of Wichita Falls., in the event the
State Board of Education elects to exercise its option to purchase these bonds;
each of the above bids to be filed in the Office of the City Clerk for future reference.
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Moved by Alderman Jarratt that the meeting be adjourned.
Motion seconded by Alderman Hall and carried.
The Board of Aldennen the adjourned,
APPROVED this the _4ay ofs",� 1957.
Mayor
ATTEST:
City Clerk