Min 12/12/1949 722
Wichita Falls,, Texas
Memorial Auditorium Building
December 12, 1949
THE STATE", OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS
On this the 12th day of December, 1949, the Board of
Aldermen of the City of Wichita Falls., Texas., convened in regular meeting at
the regular meeting place., with the following members present:
Harold Jones Mayor.,
L. R. Abbott
J. R. Ray
Lloyd C. Thomas Aldermen
Berry Brown
Roy W. Parish
B. C. Hunter
George T. Henderson Cit y Clerk
Frank Wood City Manager
Guy McNeeley City Attorney
and with the following absent: None., constituting a quorum, at which time the
following proceedings were had:
Alderman Thomas presented for the consideration of the Board
of Alderman a resolution.
Alderman Ray made a motion that the resolution be adopted
finally. The motion was seconded by Aldeiman Parish. The motion was carried
by the following vote:
YEAS: Aldermen Abbott., Ray) Thomas., Brown., Parish and
Hunter and Mayor Jones.
NAYS: None.
The resolution as adopted is as follows-.
RESOLUTION NO. 45
BY THE BOARD OF ALDFA-01EN OF THE CITY OF
WICHITA FALLSp TEXAS, CANVA33ING RETURNS
AND DECLARING R&SULT OF AN ELECTION ON THE
QUESTION OF THE ISSUANCE OF $1,,250,,000.00
WATERI-K)RKS BONDS; ON THE QUESTION OF THE
ISSUANCE OF $8002000.00 STREET IMPROVEMENT
BONDS; ON THE QUESTION OF THE ISSUANCE OF
$200,,000.00 PARK BONDS; ON THE QUESTION OF
THE ISSUANCE OF $100,9000.00 FIRE STATION
BONDS AND ON THE QUESTION OF THE ISSUANCE
OF $900,000.00 SEVM REV�,NUE BONDS.
WHEREAS,, heretofore on the 14th day of November,, 1949..
the Board of Aldermen of the City of Wichita Falls, Texas, adopted a
resolution calling an election to be held in said City on the 6th day of
December, 1949, on the following proposit-I.ons:
PROPOSITION NO. 1
"Shall the Board of Aldermen of the City of Wichita
Fa2ls,, Texas., be authorized to issue the bonds of said City
in the amount of $1.,250.,000,00., maturing serially in such in-
stallments as may be fixed by the Board of Aldermen., the maxi-
mum maturity date being not more than Twenty Five (25) years
from their date, and bearing interest at a rate not to exceed
Three and one-half (3L'5%) per cent per annum, payable annually
or semi-annually, and to levy a tax sufficient to pay inter-
est as it accrues and principal as it matures on said issue
of bonds., for the purpose of constructing., repairing,, improv-
ing and extending the water works of said City., as authorized
by the Constitution and laws of the State of Texas."
723
PROPOSITION NO. 2
Falls "Shall the Board of Aldermen of the City of Wichita
.1 Texas,, be authorized to issue the bonds of said City
in the amount of $8OOyOOO,OO, maturing serially in such in-
stallments as may be fixed by the Board of Aldermenj, the maxi-
mum maturity date being not more than Twenty Five (25) years
from their date., and bearing interest at a rate not to exceed
Three and one-half OW per cent per annum, payable annually
or semi-annually, and to levy a tax sufficient to pay inter-
est as it accrues and principal as it matures on said isaue
of bonds, for the purpose of constructing permanent street
improvements within said City., as authorized by the Consti-
tution ans laws of the State of Texas,t'
PROPOSITION NO. 3
ItShall the Board of Aldermen of the City of Wichita
Falls, Texas, be authorized to issue the bonds of said City
in the amount of $200,000.00, maturing serially in such in-
stallments as may be fixed by the Board of Aldermen, the maxi-
mum maturity date being not more than Twenty Five (425) years
f rom their date,, and b earin., interest at a rate not to exceed
Three and one-half (31%) per cent per annum, payable annually
or semi-annually, and to levy a tax sufficient to pay inter-
est as it accrues and principal as it matures on said issue
of bonds, for the purpose of improving lands for park purposes.,
as authorized by the Constitution and laws of the State of Texas.1t
PROPOSITION NO. 4
"Shall the Board of Aldermen of the City of Wichita
Falls., Texasj, be authorized to issue the bonds of said City
in the amount of $100,,000.00.. maturin- serially in such in-
stallments as may be fixed by the Board of Aldermen, the maxi-
mum maturity date being not more than Twenty Five (25) years
from their date., and bearing interest at a rate not to exceed
Three and one-half (32'%) per cent per annum., payable annually
or semi-annually., and to levy a tax sufficient to pay inter-
est as it accrues and principal as it matures on said issue
of bonds,, for the purpose of constructingj, repairing and im-
proving fire stations within said Cityj, as authorized by the
Constitution and laws of the State of Texas.11
PROPOSITION NO. 5
"Shall the Board of Aldermen of the City of Wichita
Falls, Texas, be authorized to issue the bonds of said City
in the amount of $9000000.00, maturing serially in such in-
stallments as may be fixed by hhe Board of Aldermen., the maxi-
mum maturity being not more than Twenty Five (25) years from
their date., bearing interest at a rate not to exceed Three
and one-half per cent per annum.,--- for the purpose of
constructing, repairing,. improving and extending the sanitar7
sewers of said City, to be issued in accordance with and
secured in the manner provided in Articles 1111-1118, both
inclusive, of the Revised Civil Statutes of 'Texas., 1925, as
amended, each bond to be conditioned that the holder thereof
shall never have the right to demand payment of said obli-
gation out of funds raised or to be raised by taxation,, secur-
ed by a pledge of the net revenues from the operation of said
system."
and
WHEREAS., said election was duly held at the time and places
specified after due notice as required by law had been given by posting and
publication; and
WHEREAS,, there were cast at said election the following
votes:
PROPOSITION NO. 1
"FOR THE ISSUANCE OF WATERWORKS BONDS" 3671 Votes;
"AGAINST THE ISSUANCE OF WATERWORKS BONDS" 1000 Votes.
PROPOSITION NO. 2
"FOR THE ISSUANCE OF STREET 111PROVEMENT BONDS" 3583 Votes;
"AGAINST THE ISSUANCE OF STREET MPROV34ENT
BONDS" 1058 Votes.
724
PROPOSITION No. 3
"FOR THE ISSUANCE OF PARK BONDS11 3"0 Votes;
"AGAINST THE ISSUANCE OF PARK BONDS" 1213 Votes.
PROPOSITION NO. 4
"FOR THE ISSUANCE OF FIRE STATION BONDS" 3706 Votes;
ItAGAINST THE ISSUANCE OF FIRE STATION BONDS" 959 Votes.
PROPOSITION NO. 5
"FOR THE ISSUANCE OF SEWER REVENUE BONDS" 3618 Votes;
"AGAINST THE ISSUANCE OF SEWER REVENUE BONDS" 1042 Votes.
as is reflected in the election returns heretofore filed with the City Clerk;
and
WHEREAS,, only qualified taxpaying voters owning taxable
property in said City and who had duly rendered their property for taxation
were allowed to vote;
BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF
WICHITA FALLS, TEXAS:
1. That said election was duly called; that notice was
given in accordance with law and in accordance with the resolution calling
the election; that the 4lection was held in accordance with law; that the re-
turns of said election have been made by the proper officers; that a majority
of the qualified voters who own taxable property in said City and who have
duly rendered the same for taxation voting at said election have voted in
favor of the issuance of the bonds.
2. That the Board of Aldermen be and it is hereby in all
things authorizeds ordered and directed to issue said bonds and to do any and
all things necessary or convenient in connection therewith.
- - - - - - - - - - -
Moved by Alderman Parish that the Board of Aldermen approve the
Amended Contract by and between Shields & Co. and Associates., as hereinafter
set forth, and further to authorize and empower Mayor Harold Jones to
execute the said amended Contract for and on behalf of the City- of Wichita
Falls.
Motion seconded by Alderman Ray and carried by the following vote:
Yeas: Aldermen Abbotto Ray.. Thomas, Brown., Parish and Hunter.
Nays: None.
CONTRACT
December 72 1949
To the Honorable Mayor and City Council.,
City of Wichita Fallso Wichita Falls, Texas
Gentlemen:
Reference is made to our contract with you dated November 7. 1949, for the
purchase of $2,350,000-00 City of Wichita Falls, Texas, General Obligation
Bonds to be dated December 1. 1949v
Under the provisions of the above mentioned contract, you agree to sell us
and we agree to purchase from you the total amount of these bonds as voted
on December 6, 1949, in accordance with the following terms:
All bonds maturing 1950 through 1962 inclusive to bear interest
at the rate of 3 1/2%., and all bonds maturing 1963 through 1974
inclusive to bear interest at 2 3/4%. with all bonds maturing
on December 1. 1965, and thereafter to be optional for redemption
on December 1. 1964 at par and accrued interest.
For the bonds bearing interest as described above, we agree to pay the par
value thereof plus a premium of $2,179-75 plus accrued interest to date of
delivery.
This represents a total net interest cost over the life of these bonds to
the City of $1,139,582.715, or an effective average interest rate of 2.8464%.
Respectfully submitted,,
Shields & Company & Associates
By Isl Arthur E. Goodwin, Jr. Authorized Representative.
725
Alderman Brown presented for the consideration of the Board of
Aldermen an ordinance. The ordinance was read in full by the City Clerk.
ORDINANCE NO. 1508
Moved by Alderman Brown that Ordinance No. 1508 be approved and
passed as read on its first reading,
Motion seconded by Alderman Abbott and carried by the following vote:
YEAS: Aldermen Abbott, Rays Thomasj Browns Parish and hunter and
Mayor Jones.
NAYS: None.
ORDINANCE NO. 1508
Moved by Alderman Ray that the rule requiring that ordinances be
read on three separate days be and is hereby suspended, and declaring an
emergency,
Motion seconded by Alderman Hunter and carried by the following vote:
YEAS: Aldermen Abbott', Rays Thomas, Browns Parish and Hunter and
Mayor Jones.
NAYS: None.
- - - - - - - - - -
ORDINANCE NO. 1508
Moved by Alderman Thomas that Ordinance No. 1508 be approved and
passed as read on its second reading.
Motion seconded by Alderman Abbott and carried by the following vote;
YEAS: Aldermen Abbott, Rays Thomas,, Brown, Parish and Hunter and
Mayor Jones.
NAYS: None.
ORDINANCE NO-1508
Moved by Alderman Brown that Ordinance No. 1508 be approved and
passed as read on its third and final readings and declaring an emergency.
Motion seconded by Alderman Parish and carried by the following vote:
YEAS: Aldermen Abbott, Ray, Thomas, Brown, Parish and Hunter and
Mayor Jones.
NAYS: None.
ORDINANCE NO. 1508
BY THE 130ARD OF ALDERMEN OF THE CITY OF, WICHITA FALLS,
TZXAS.V PROVIDING FOR THE ISSUANCE OF CITY OF WICHITA
FALLS, TEXAS., WATER1,URKS BONDS, SERIES 1949$ IN THE
AGGREGATE AMOUNT OF $1,250.,000.00; CITY OF WICHITA
FALLSs TEXASp STREET IMPROVEME14T BONDS, SERIES 1949,
IN THE AGGREGATE AMOUNT OF $800,000.00; CITY OF WICHITA
FALLS, TEXAS., PARK BOND8., SERIES 1949, IN THE AGGRE-
GATE AMOUNT OF $200POOO.00 AND CITY OF WICHITA FALLS,
TEXAS, FIRE STATION BONDS, SERIES 1949$ IN THE AGGRE-
GATE AMOUNT OF $100.,000.00,o BEARING INTEREST AT THE
RAThS HEREINAFTER SET FORTH., AND PROVIDING FOR THE LEVYs
ASSESSMENT AND COLLECTION OF A TAX SUFFICIENT TO PAY THE
INTEREST OF SAID BONDS AND TO CREATE A SINKING FUND FOR
THE REDWTION THEREDF AT MATURITY2. PRESCRIBING THE FORM
OF BONDS AND DECLARING AN EMERGENCY.
WHEREAS., heretofore on the 14th day of November., 1949s
the Board of Aldermen of the City of Wichita Falls, Texass adopted a
resolution calling an election to be held in the City of Wichita Falls.,
Texas, on the 6th day of December, 1949, on the following propositions:
726
PROPOSITION NO. 1
"Shall the Board of Aldermen of the City of Wichita
Fallso Texaso be authorized to issue the bonds of said City
in the amount of $1,,250.,000.00, maturing serially in such in-
stallments as may be fixed by the Board of Aldermen, the maxi-
mum maturity date being not more than Twenty Five (25) years
from their date., and bearing interest at a rate not to exceed
Three and one-half (31%) per cent per annum, payable annually
or semi-annually.. and to levy a tax sufficient to pay inter-
est as it accrues and principal as it matures on said issue
of bonds, for the purpose of constructing,, repairing, improv-
ing and extending the water works of said City, as authorized
by the Constitution and laws of the State of Texas."
PROPCSITION NO. 2
ItShall the Board of Aldermen of the City of Wichita
Falls,, Texas,, be authorized to issue the bonds of said City
in the amount of $800,000.00., maturing serially in such in-
stallments as may be fixed by the Board of Aldermen, the maxi-
mum maturity date being not more than Twenty Five (25) years
from their date, and bearing interest at a rate not to exceed
Three and one-half (312%) per cent per annum, payable annually
or semi-annually,, and to levy a tax sufficient to pa
'y inter-
est as it accrues and principal as it matures on said issue
of bonds., for the purpose of constructing permanent street
improvements within said City, as authorized by the Consti-
tution and laws of the State of Texas.tt
PROPOSITION 140. 3
"Shall the Board of Aldermen of the City of Wichita
Falls, Texas, be author-ized to issue the bonds of said City
in the amount of $200.,000.00., maturing serially in such in-
stallments as may be fixed by the Board of Aldermen,, the maxi-
mum maturity date being not more than Twenty Five (25) years
from their date, and bearing interest at a rate not to exceed
Three and one-half (31%) per cent per annum, payable annually
or semi-annually, and to levy a tax sufficient to pay inter-
est as it accrues and principal as it matures on said issue
of bonds, for the purpose of improving lands for park purposes.,
as authorized by the Constitution and laws of the State of
Texas."
PROPOSITION NO. 4
"Shall the Board of Aldermen of the City of Wichita
Falls, Texas, be authorized to issue the bonds of said City
in the amount of $100,000.00, maturing serially in such in-
stalLnents as may be fixed by the Board of Aldermen,, the maxi-,
mum maturity date being not more than Twenty Five (25) years
from their date,, and bearing interest at a rate not to exceed
Three and one-half (3'%) per cent per annum, payable annually
or semi-annually., and to levy a tax sufficient to pay inter-
est as it accrues and principal as it matures on said issue
of bonds, for the purpose of constructing,, repairing and im-
pr6ving fire stations within said City, as authorized by the
Constitution and laws of the State of Texas*"
and
WHEREAS,, said election was duly and legally held in the
City of Wichita Falls, Texas, on the 6th day of December, 1949, at which
election a majority of the legally qualified electors., owning taxable property
in said City and who had duly rendered the same for taxation,, voting at said
election, sustained the propositions to issue the bonds hereinafter described
by the following vote:
PROPOSITION NO. 1
"FOR THE ISSUANCE OF WAT109ORKS BONDS" 3671 Votes;
"AGAINST THE ISSUANCE OF WATERWORKS BONDS" 1000 Votes.
PROPOSITION NO. 2
"FOR THE ISSUANCE OF STREET IKPROVEKENT BONDS" 3583 Votes;
"AGAINST THE ISSUANCE OF 3TRSET DIPROVEMENT
3ONDS11 1058 Votes.
727
PROPOSITION NO. 3
"FOR THE ISSUANCE OF PABK BONDS" 3"0 Votes;
"AGAINST THE ISSUANCE OF PARK BONDS" 1213 Votes.
PROPOSITION NO. 4
"FOR THE ISSUANCE OF FIRE STATION BONDS" 3706 Votes;
"AGAINST THEi ISSUANCE OF FIRE STATION BONDS" 959 Votes,
as is reflected in the election returns heretofore filed with the City Clerk;
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA
FALLS, TEXAS:
PERTAINING TO THE WATERWORKS BONDS
1. That the bonds of said City to be called "City of
Wichita Falls, Texas, Waterworks Bonds., Series 194911., be issued under and by
virtue of the Constitution and laws of the State of Texas, and the Charter of
said City, for the purpose of constructing., repairing., improving and extending
the water works of said City, in the principal sum of One Million Two Hundred
Fifty Thousand ($1,250,000-00) Dollars.
2, That said bonds shall be numbered from One (1) to One
Thousand Two Hundred Fifty (1,250). both inclusive, of the denomination of One
Thousand ($-ljOOO.00) Dollars each, aggregating One Million Two Hundred Fifty
Thousand ($1,250,00) Dollars.
3, That said bonds shall be dated December 1, 1949, and
shall become due and payable serially as follows:
BONDS NUMBERS MATURITY DATES AMOUNTS
1 to 21., both incl., December 111 1950, $ 21.,000.00
22 to 35, if It December lj 1951, 14.,000.00
36 to 679 It It December 12 19520 32,000.00
68 to 101,, it December 11 19532 342000-00
102 to 137, it December 11 1954, 36,000.03
138 to 171., is December 12 19551 34.,000,00
172 to 203., It December lj, 19562 32.,000.00
204 to 237., It December 11 1957, 34.,000.00
238 to 273, December 1, 1958., 36,000.00
274 to 311., December lj 1959, 382000.00
312 to 3381 December 11 1960, 27.,000.00
339 to 373j, December 11 1961j 35�000-00
374 to 409, December lj 1962,, 36,000.00
410 to "7, December 1, 1963, 38,000.00
"8 to 482., December 1, 1964, 35jOOO-00
483 to 514, December 1, 1965j 32,000.00
515 to 552, December 1, 1966, 38j,000.00
553 to 593, December 1, 19671, 41,000.00
594 to 629, December 1, 1968j 361$000.00
630 to 667, December 1, 19692 38.9000.00
668 to 777j, December 1, 1970, 1101000.00
778 to 890, December li 1971� 113,000-00
891 to 1005, December IJI 1972., 115,000-00
1006 to 1126, December li 1973., 121,000.00
1127 to 1250,, December 1, 1974, 124,000-00
4. That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 1 to 409, both incl., 31% per annum;
;z
Bonds Nos. 410 to 1250, It it 2-3/4% per annum,
payable December 1., 1950., and semi-annually thereafter on June lst and
December lst of each year.
5. In Bonds Numbers Four Hundred Eighty Three (483) to
One Thousand Two Hundred Fifty (1,250), both inclusive, the City shall reserve
the option of calling each such bond for redemption prior to maturity at par
and accrued interest, on any interest payment date on and after December 'l.
1964j by giving thirty (30) days' notice in writing to the place of payment and
by publication of such notice in a financial publication having general cir-
culation in New York City, Said notice shall appear in said publication in at
least one issue, the date of said issue being not less than thirty days prior
to the date so fixed for redemption, If any such bond is called for redemption
in said manner and funds sufficient to pay the principal and accrued interest
thereon shall have been duly placed in the place of payment and it shall not
be presented for payment it shall not thereafter bear interest.
728
6. The form of said bonds shall be substantially as follows:
NO. $1,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS
WATERWORKS BOND
SERIES 1949
of Texas The City of Wichita Falls., in the County of Wichitat, State
., a municipal corporation duly incorporated under the laws of the State
of Texass ,for value received.. hereby promises to pay to the bearer hereof on
the lst day of December., 19 the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America, with interest thereon from
date hereof at the rate of (*%) per cent per annum., interest payable December
1, 1950, and semi-amnually thereafter on the lst day of June and the lst day
of December of each year, both principal and interest payable upon presentation
and surrender of bond or proper coupon at the Chase National Bank, New York,
New York, or, at the option of the holder, at the Mercantile National Bank at
Dallas,, Dallas,, Texas,, and the City of Wichita Falls., Texas.. is hereby held
and f irmly b ound and it s f ai th and c redi t and al I -"Jaxable p rope rty in s aid
City are hereby pledged for the prompt payment of the principal .of this bond
at maturity and the interest thereon as it accrues.
This bond is one of a series of One Thousand Two Hundred
Fifty (1,250) bonds of like tenor and effect', except as to numbey, interest
rate, maturity and right of prior redemption., numbered from One (1) to One
Thousand Two Hundred Fifty (lj250)., both inclusive,, of the denomination of
One Thousand ($1,000.00) Dollars each, aggregating One Million Two Hundred
Fifty Thousand ($1,250.,000.00) Dollars., issued for the purpose of construct-
in&,, repairing,, improving and extending the water works of said City., under
and by virtue of the Constitution and laws of the State of Texas, the Charter
of said City, and pursuant to an ordinance passed by the Board of Aldermen
of said City of Wichita Falls, Texas, which ordinance is duly of record in
the minutes of said Board of Aldennen.
**(The City reserves the right to redeem this bond prior to
maturity on any interest payment date on and after December 1. 1964, at par
and accrued interest to date fixed for payment, provided thirty (30) days'
notice in writing is given to the place of payment, and by publication of
such notice in a financial publication having general circulation in New
York City, Said notice shall appear in said publication in- at least one
issue, the date of said issue being not less than Thirty (30) days prior to
the date so fixed for redemption. If this bond is called for payment in said
manner and money is placed in said place of payment prior to the date so fixed
for redemption sufficient to pay the principal and interest to said date and
this bond is not so presented for payment, it shall not thereafter bear in-
terest.)
The date of this bond in conformity with the ordinance
above mentioned is December l.. 1949.
P14D IT IS HEREBY CERTIFIED WD RECITED that the issuance
of this .bond., and the series of which it is a part,, is duly authorized by law
and by a vote of the resident., qualified electors who own taxable property in
said City and who had duly rendered the same for taxation in the City of
Wichita-Falls, Texas, voting at ail election held for that purpose within said
City on the 6th day of December, 1949; that all acts, conditions and things
required to be done precedent to and in the issuance of this series of bonds,
and of trds bond, have been properly done and performed and have happened in
regular and due time., form and manner as required by law; that sufficient and
proper provision for the levy and collection of taxes has been made, which,
when collected shall be appropriated exclusively to the payment of this bond,
and of the series of which itu is a part, and to the payment of the interest
coupons,heretc, annexed as the same shall become due; and that the total in-
debtedness of said City of Wic�dta Falls, Texas, including the entire series
of bonds of which this is one, does not exceed any constitutional or statutory
limitatione
IN WITNESS WHEREOF I the City of Wichita Falls., Texas., by
its Board of Aldermen has caused its cor-porate seal to be affixed hereto, and
this bond to be signed by the Mayor and countersigned by the City Clerk and
the interest coupons hereto attached to, be executed by the lithographed or
printed facsimile signatures of the Mayor and C-1-ty Clerk as of the lst day
I
729
of December, 1949,
Mayor., City of Wichita Falls,, Texas
COUNTERSIGNED:
City Clerk, City of Wichita Falls, Texas.
*(Bonds Nos. 1 to 409, both incl., 3i% per annum;
Bonds Nos. 410 to 1250s 11 11 2-3/4% per annum.)
**(This paragraph should be omitted from Bonds Numbers 1 to 482, both incl.)
7. The form of coupon shall be substantially as fbllows:
NO. $
ON THE lst DAY OF
.,19
The City of Wichita Falls, Texas,, will pay to bearer,
*(unless the bond to which this coupon is attached shall have been called
for previous redemption as therein provided and provision for the redemption
thereof made), at the Chase National Bank, New York, New York,, or,, at the
option of the holder, at the Mercantile National Bank at Dallas,, Dallas� Texas,
the sum of Dollars,
in lawful money of the United States of America., being months' interest
due that day on "City of Wichita Falls,, Texas., Waterworks Bond, Series 19491,
dated December 1, 1949, No.
City Clerk Mayor
*(This parenthetical expression should be printed only in coupons maturing
June 1, 1965, and subsequent).
PERTAINING TO THE STRE6T IMPROVEM24T BONDS
8. That the bonds of said City to be called "City of
Wichita Falls., Texas, Street Improvement Bonds, Series 1949"., be issued under
and by virtue of the Constitution and laws of the State of TexasP and the
Charter of said City., for the purpose of constructing permanent street im-
provements within said City., in the principal sum of Eight Hundred Thousand
($800,000.00) Dollars.
9. That said bonds shall be nu#bered from One (1) to
Eight Hundred (800)2 both inclusive, shall be of the denomination of One
Thousand ($1,000.CO) Dollars each, aggregating Eight Hundred Thousand
($800,000.00) Dollars.
10. That said bonds shall be dated December 1,, 1949,
and shall become due and payable serially as follows:
BONDS NUMBERS MATURITY DATES- AMOUNTS
1 to 112 both incl., December 1.9 19509 $ ll.,000.00
12 to 19, December 1, 1951, 8,000.00
20 to 36, December 1, 1952, 17,000.00
37 to 55, December 11 1953, 19,000.00
56 to 76, December Is 1954., 21,000.00
77 to 95., December 10 1955, 192000,00
96 to 112, December 12 1956, 17.,000.00
113 to 131P December I., 1957s 19,00O.Co
132 to 151, December 1, 1958, 20.,000.00
152 to 173., December 11 1959., 22,000.00
174 to 189., December 11 1960, 161OOO.CO
190 to 207., December 1, 1961., 18,000.00
208 to 227,, It tt December 11 1962, 2O.,OOO.CO
228 to 249,9 " it December 11 1963, 22,000.00
250 to 267., " It December 11 1964o 18,000.00
268 to 284, if December 11 19652 17.,000.00
285 to 306,, It December 1, 1966, 22,tOOO.00
307 to 3290 it December 12 1967, 23,000-CO
330 to 359, it December 1, 1968p 30,,000.00
36o to 396., il ti December 11 1969j 37,000,00
397 to 473, 11 It December 1p 1970, 77�000,00
474 to 552, December 1., 1971, 79,000-00
553 to 632, December 11 1972, 80j,000.00
633 to 715, December 1, 1973, 83,000-00
716 to 800., December 11 1974., 85,000-00
730
11. That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 1 to 227s both incl., 31% per annum;'
Bonds Nos. 228 to 800, to 11 2-3/4% per annum,
payable December ls 1950., and semi-annually thereafter on June Ist and
December Ist of each year.
12. In Bonds Numbers Two Hundred Sixty Eight (268) -to
Eight Hundred (800)2 both inclusive2 the City shall reserve the option of
calling each such bond for redemption prior to maturity at par and accrued
interest, on any interest payment date on and after December 1) 1964., by
giving thirty (30) days' notice in writing to the place of payment and by
publication of such notice in a financial publication having general cir-
culation in New York City. Said notice shall appear in said publication in
at least one issue, the date of said issue being not less than thirty days
prior to the date so fixed for redemption. If any such bond is called for
redemption in said manner and funds sufficient to pay the principal and
accrued interest thereon shall have been duly placed in the place of payment
and it shall not be presented for payment it shall not thereafter. bear inter-
est.
13. The form of said bonds shall be substantially as
f ollows:
NO. $10000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WICHITA -
CITY OF WICHITA FALLS
STREET IMPROVEK2NT BOND
SERIES 1949
The City of Wichita Falls, in the Countyof Wichita.. State
of Texas, a municipal corporation duly incorporated under the laws of the
State of Texas, for value received, hereby promises to pay to the bearer here-
of on the lst day of December, 19 the sum of,
ONE THOUSAND DOLLARS
in lawful money of the United States of Amenica., with interest thereon from
date hereof at the rate of (*%) per cent per annums interest payable December
ls 1950., and semi-annually thereafter on the lst day of June and the lst day
of December of each year, both principal and interest payable upon presentation
and surrender of bond or proper coupon at the Chase National Bank, New York,
New Yorks or, at the option of the holder, at the Mercantile National Bank at
Dallas, Dallas., Texas., and the City of Wich-ita, Falls., Texas., is hereby held
and firmly bound and its faith and credit and all taxable property in said
City are hereby pledged for the prompt payment of the principal of this bond
at maturity and the interest thereon as it accrues.
This bond is one of a scries of Eight Hundred (800) bonds
of like tenor and effect$ except as to number, interest rates maturity and
right of prior redemption, numbered from One (1) to Eight Hundred (80O)s both
inclusive., of the denomination of One Thousand ($1,000.00) Dollars each,
aggregating Eight Hundred Thousand ($800,000.00) Dollars, issued for the
purpose of constructing permanent street improvements within said Citys under
and by virtue of the Constitution and laws of the State of Texas, the Charter
of said City, and pursuant to an ordinance passed by the Board of Aldermen
of said City of Wichita Falls, Texass which ordinance is duly of record in
the minutes of said Board of Aldermen.
**(The City reserves the right to redeem this bond prior to
maturity on any interest payment date on and after December 1. 1964, at par
and accrued interest to date fixed for paymemt, provided thirty (30) days'
notice in writing is given to the place of payment, and by publication of
such notice in a financial publication having general circulation in New
Said notice shall appear in said publication in at least one
York City.
issues the date of said issue being not less than thirty (30) days prior to
Id
the date so fixed for redemption. If this bond is called for payment in 3ai
manner and money is placed in said place of payment prior to the date so fixed
for redemption sufficient to pay the principal and interest to said date and
this bond is not so presented for payment, it shall not thereafter bear in-
t-erest.)
The date of this bond in conformity with the ordinance
above mentioned is December 1. 1949,
731
AND IT IS HEREBY CERTIFIED AND RECITED that the issuance
of this bond, and the series of which it is a part.,. is duly authorized by law
and by a vote of the resident,, qualified electors who own taxable property in
said City and who had duly rendered the same for taxation in the City of
Wichita Falls., Texas., voting at an election held for that purpose within said
City on the 6th day of December, 1949; that all acts., conditions and things
required to be done precedent to and in the issuance of this series of bonds,,
and of this bond, have been properly done and performed and have happened in
regular and due time, form and manner as required by law; that sufficient and
proper provision for the levy and collection of taxes has ,been made., which.,
when collected shall be appropriated exclusivels, to the payment of this bond,
and of the series of which it is a part, and to the payment of the interest
coupons hereto annexed as the same shall become due; and that the total in-
debtedness of said City of Wichita Falls, Texas, including the entire series
of bonds of wl-iich this is one, does not exceed any constitutional or statutory
limitation.
IN WITTIESS WHEREDF,, the City of Wichita Falls,, Texas., by
its Board of Aldermen has caused its corporate seal to be affixed hereto, and
this bond to be signed by the Mayor and countersigned by the City Clerk and
the interest coupons hereto attached to be executed by the lithographed or
printed facsimile signatures of the Mayor and City Clerk as of the lst day
of December., 1949.
COUNTERSIGNED: Mayor, City of Wichita Falls, Texas
City Clerk, City of Wichita Falls, Texas.
*(Bonds Nos. 1 to 227, both incl
�19 3z% per annum;
Bonds Nos. 228 to 800., -3/4% per annum),
**(This paragraph should be omitted from Bonds Number 1 to 267, both inclusive).
14. The form of coupon shall be substantially as follows:
NO.
ON THE 1ST DAY OF
"19
The City of Wichita Falls., Texas., will pay to bearer.,
*(unless the bond to which this coupon is attached shall have been called
for previous redemption as therein provided and provision for the redemption
thereof made), at the Chase National Bank., New York,, New York., or., at the
option of the holder, at the Mercantile National Bank at Dal7as, Dallas Texas
L
the sum of -) Dollars.,
in lawful money of the United States of America, being months' interest
due that day on '?City of Wichita Falls,, Texas,, Street Improvement Bond., Series
1949". dated December 1. 1949, N&,
City Clerk Mayor
*(This parenthetical expression should be printed only in coupons maturing
June 1. 1965, and subsequent).
PERTAINING TO THE PARK BONDS
15. That the bonds of said City to be called "City of
Wichita Falls Texas.. Park Bonds., Series 1949".. be issued under and by virtue
of the Constitution and laws of the State of Texas, and the Charter of said
City, for the purpose of improving lands for park purposes, in the principal
sum of Two Hundred Thousand ($200,000.00) Dollars.
16. That said bonds shall be numbered from One (1) to Two
hundred (200)., both inclusive, shall be of the denomination of One Thousand
($1,000.00) Dollars each, aggregating Two Hundred Thousand ($200,000.00) Dollars.
17. That said bonds shall be dated December 1, 1949, and
shall become due and payable serially as follows:
732
AMOUNTS
BONDS NUMBERS MATURITY DATES
1 22 December 11 1950, $ 2,000.00
3 4 December 11 1951o, 2,000.00
5 to 8s both incl., December 1, 1952, 4,000-00
9 to 13., It if December 11 1953o 5sOOO-O0
14 to 19.- 11 it December ls 19542 6sOOO.00
20 to 24s 11 if December 11 1955, 5.,000-00
25 to 28s 11 it December 12 1956, 4..000.00
29 to 33.0 It if December 11 1957, 5,,000.00
34 to 39j, 11 it December 13 1958p 62000.00
40 to 45., 11 to 9 December 11 1959, 6POOO.00
46 to 50., " December 11 1960, 5..000,00
51 to 55s of December 19 19610 5,000,00
56 to 61, of 11 December 12 1962, 6,000.00
62 to 67.. December 11 1963s 6,000.00
68 to 72s December 12 1964, 5.,000.00
73 to 76, it it December 12 19652 4,,000.00
77 to 82., 11 it December 12 19661' 6,000.00
83 to 90s of it December 11 1967s 8,000.00
91 to 96, 11 December 11 1968, 69000.00
97 to 102, It December 11 1969, 6,000.00
103 to 120.4 If December 11 1970, 18,000.00
121 to 138, it December 1, 19713 18.,000.00
139 to 158., If if December 11 1972, 203000.00
159 to 179., 11 to December 11 19732 21.,000.00
180 to 200., December 11 19742 21,000.00
18. That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 1 to 61s both incl., 3z'% per annum;
Bonds Nos. 62 to 200, It It 2-3/4% per annum,
payable December ls 1950., and semi-annually thereafter on June lst and
December lst of each year.
19. In Bonds Numbers Seventy Three (73) to Two Hundred
(200), both inclusive, the City shall reserve the option of calling each such
bond for redemption prior to maturity at par and accrued interest, on any
interest payment date on and after December 1, 19642 by giving thirty (30)
days' notice in writing to the place of payment and by publication of such
notice in a financial publication having general circulation in New York City.
Said notice shall appear in said publication in at least one issue., the date
of said issue being not less than thirty days prior to the date so fixed for
redemption. If any such bond is called for redemption in said manner and
funds sufficient to pay the principal and accrued interest thereon shall have
been duly placed in the place of payment and it shall not be presented for
payment it shall not thereafter bear interest.
20. The form of said bonds shall be substantially as
follows:
NO. $1sOOO.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WICHITA
,CITY OF WICHITA FALLS
PARK BOND
SERIES 1949
The City of Wichita Fallsj in the County of Wichita2 State
of Texas., a municipal corporation duly incorporated Under the laws of the
State of Texas., for value received., hereby promises to pay to the bearer here-
of on the lst day of Decembers 19 , the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of Americas with interest thereon from
date hereof at the rate of (*%) per cent per annums interest payable December
ls 1950, and semi-annually thereafter on the lst day of June and the lst day of
December of each year, both principal and interest payable upon presentation
and surrender of bond or proper coupon at the Chase National Bank, New York,
New York., ors at the option of the holder, at the �Iercantile National Bank at
Dallas., Dallas., Texas., and the City of Wichita Falls., Texas., is hereby held
and firmly bound and its faith and credit and all taxable property in said
City are hereby pledged for the prompt payment of the principal of this bond
at maturity and the interest thereon as it accrues.
733
This bond is one of a series of Two Hundred (200) bonds
of like tenor and effect, except as to number, interest rate, maturity and
right of prior redemption., numbered from One (1) to Two Hundred (200), both
inclusive,, of the denomination of One Thousand ($1,000.00) Dollars each.,
aggregating Two Hundred Thousand ($200,000.00) Dollars,, issued for the purpose
of improving lands for park purposes., under and by virtue of the Constitut-ion
and laws of the State of Texas., the Charter of said City., and pursuant to an
ordinance passed by the Board of Aldermen of said City of Wichita Falls,, Texas.,
which ordinance is duly of record in the minutes of said Board of Aldermen.
**(The City reserves the right to redeem this bond prior to
maturity on any interest payment date on and after December 1, 1964, at par
and accrued interest to date fixed for payment, provided thirty (30) days'
notice in writing is given to the place of payment, and by publication of
such notice in a financial publication having general circulation in New
York City. Said notice shall appear in said publication in at least one
issue, the date of said issue being not less than Thirty (30) days prior to
the date' so fixed for redemption. If this bond is called for payment in said
manner and money is placed in said place of payment prior to the date so fixed
for redemption sufficient to pay the principal and interest to said date and
this bond is not so presented for payment, it shall not thereafter bear in-
terest.)
The date of this bond in conformity with the ordinance
above mentioned is December 1,, 1949.
AND IT IS HEREBY CERTIFIED AND RECITED that the issuance
of this bond, and the series of which it is a part,, is duly authorized by law
and by a vote of the resident, qualified electors who own taxable property in
said City and who had duly rendered the same for taxation in the City of
Wichita Falls, Texas., voting at an election held for that purpose within said
City on the 6th day of December, 1949; that all acts.,, conditions and things
required to be done precedent to and in the issuance of this series of bonds,
and of this bond, have been properly done and performed and have happened in
regular and due time,, form and manner as required by law; that sufficient and
proper provision for the levy and collection of taxes has been made., which.,
when collected shall be appropriated exclusively to the payment of this bond,
and of the series of which it is a partj, and to the payment of the interest
coupons hereto annexed as the same shall become due; and that the total in-
debtedness of said City of Wichita Falls,, Texas, including the entire series
of bonds of which this is one, does not exceed any constitutional or statutory
limitation,
IN WITNESS WHEREOF., the City of Wichita Falls., Texas., by
its Board of Aldennen has caused its corporate seal to be affixed hereto and
this bond to be signed by the Mayor and countersigned by the City Clerk and
the interest coupons hereto attached to be executed by the lithographed or
printed facsimile signatures of the Mayor and City Clerk as of the lst day
of December, 1949.
Mayor., City of Wichita Falls
Texas
COUNTERSIGNED:
City Clerk, City of Wichita Falls., Texas.
C
*(Bonds Nos. 1 to 61, both incl., 31% per annum;
Bonds Nos. 62 to 200., if it 2-3/4% per annum.)
**(This paragraph should be omitted from Bonds Numbers 1 to 72, both incl.)
21. The form of coupon shall be substantially as follows:
NO.
ON THE 1ST DAY OF
., 19
The City of Wichita Falls, Texas, will pay to bearer,
*(unless the bond to which this coupon is attached shall have been called
for previous redemption as therein provided and provision for the redemption
thereof made), at the Chase National Bank, New York., New York, or., at the
option of the holder, at the Mercantile National Bank at Dallas., Dallas, Texas,
the sum of ($ ) Dollars.
in lawful money of the United States of America, being monthst interest
due that day on "City of Wichita Falls, Texas., Park Bond, Te—ries 1949". dated
December 1. 1949, No.
City Clerk Mayor
734
*(This parenthetical expression should be printed only in coupons maturing
June 1, 1965, and subsequent).
PERTAINING TO THE FIRE STATION BONDS
22. That the bonds of said City to be called "City of
Wichita Falls.* Texasp Fire Station Bonds$ Series 19491to be issued under and
by virtue of the Constitution and laws -of the State of Texas, and the Char-ter
of said City, for the purpose of constructing,, repairing and improving fire
stations within said City, in the principal sum of One Hundred Thousand
($100,000.00) Dollars.
23. That said bonds shall be numbered from One (1) to One
Hundred (100)0 both inclusive, shall be of the denomination of One Thousand
($1,000,00) Dollars each, aggregating One Hundred Thousand ($100,000.00) Dollars.
24. That said bonds shall be dated December 1,, 1949., and
shall become due and payable serially as follows:
BONDS NUMBERS kATURITY DATES AMOUNTS
1 December 11 1950., 3 10000.00
2 December 12 19510 1.,000.00
3 - 4 December 12 1952, 2..000.00
5 - 6 December 11 1953, 2,000.00
7 - 8' December 11 1954� 2.*000.00
9 - 10 December 12 1955, 2,000.00
11 - 12 December 10 19562 2j,000.00
13 - 14 December 1� 1957, 2,,000.00
15 to 17 2 both incl., December 1, 1958, 3,000-00
18 to 21., 11 it December 11 1959p 4jOOO.00
'22-- 23 December 11 1960, 2..000.00
24 - 25 December 1,, 19612 23000.00
26 to 28, 11 it December 11 1962, 3�000-00
29 to 32, December 11 1963, 4,000.00
33 - 34 December 12 1964, 2,000.00
35 - 36 December 11 1965, 22000.00
37 to 40 December 11 1966s 43000-00
41 to 43., December 12 1967o 3,000.00
to 46, December 11 19682 31000-00
47 to 50, December 12 1969, 4,000-00
51 to 600 December 1p 1970, 100000.00
61 to 70., December 11 1971t 10SO00.00
71 to 80, December 11 1972, 10.,000.00
81 to 909 December 1p 1973, 1OP000.00
91 to 100" December 1p 1974,9 10P000.00
25. That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 1 to 28., both incl.., 3z% per annum,
Bonds Nos. 29 to 100, it it 2-3A% per annum,
payable December 11 1950, and semi-annually thereafter on June lst and
December lst of each year.
26. In Bonds Numbers Thirty Five (35) to One Hundred
(100). both inclusive, the City shall reserve the option of calling each such
bond for redemption prior to maturit�p at par and accrued interest, on any
interest payment date on and after December 1., 1964., by giving thirty (30)
clays, notice in writing to the place of payment and by publication of such
notice in a financial publication having general circulation in New York City.
Said notice shall appear in said publication in at least one issuej, the date
of said issue being not less than thirty days prior to the date so fixed for
c�
redemption. If any such bond is called for redemption in said manner and
funds sufficient to pay the principal and accrued interest thereon shall �Bve
been duly placed in the place of payment and it shall not be presented for
payment it shall not ther(,,after bear interest.
27. The form of said bonds shall be substantially as
follows:
NO. $1.,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WICHITA
CITY OF WICHITA FALLS
FIRE STATION BOND
SERIES 1949
735
of Texas The City of Wichita Falls, in the County of Wichita,, State
., a municipal corporation duly incorporated under the laws of the
State of Texas, for value received., hereby promises to pay to the.bearer here-
of on the lst day of December., 19 0 the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America,, with interest thereon from
date hereof at the rate of (*%) per cent er ani,11D-a., interest ,payable December
12 1950, and semi-annually thereafter on the lst day of June and the lst day of
December of each year, both principal and interest payable upon presentation
and surrender of bond or proper coupon at the Chase National Bank., New York.,
New York., or, at the option of the holder, at the Mercantile National Bank at
Dallas, Dallas, Texas, and the City of Wichita Falls., Texas, is hereby held
and firmly bound and its faith and credit and all taxable property in said
City are hereby pledged for the prompt payment of the principal of this bond
at maturity and the interest thereon as it accrues.
This bond is one of a series of One Hundred (100) bonds
of like tenor and effect, except as to number,, interest -rate, maturity and
right of prior redemption, numbered from One (1) to One Hundred (100), both
inclusive., of the denomination of One Thousand ($1,000' 00) Dollars each,
aggregating One Hundred Thousand ($100jOOO.00) Dollars issued for the pur-
pose of constructing, repairing and inproving fire stat2ions within said City,
under and by virtue of the Constitution and laws of the State of Texas, the
Charter of said City, and pursuant to an ordinance passed by the Board of
Alderman of said- City of Wichita Falls,, Texas., which ordinance is duly of
record in the minutes of said Board of Aldermen.
**(The city reserves the right to' redeem this bond prior to
maturity on any interest payment date on and after December 1. 1964., at par
and accrued interest to date fixed for payment, provided thirty (30) days'
notice in writing is given to the place of payment, and by publication of
such notice in a financial publication having general circulation in New
- York City. Said notice shall appear in said publication in at least one
issue, the date of said issue being not less than Thirty (30) days prior to
the date so fixed for redemption. If this bond is called for payment in said
manner and money is placed in said place of payment prior to the date so fixed
for redemption sufficient to pay the principal and interest to said date and
this bond is not so presented for payment,, it shall not thereafter bear in-
terest.)
The date of this bond in conformity with the ordinance
above mentioned is December 1, 1949.
AND IT IS HEREBY CERTIFIED AND RECITED that the issuance
of this bond, and the series of which it is a part, is duly authorized by law
and by a vote of the resident, qualified electors who own taxable property in
said City and who had duly rendered the same for taxation in the City of
Wichita Falls., Texas., voting at an election held for that purpose within said
City on the 6th day of December, 1949; that all acts, conditions and things
required -to be done precedent to and in the issuance of this series of bonds,
and of this bond, have been properly done and performed and have happened in
regular and due time,, form and manner as required by law; that sufficient and
proper provision for the levy and collection of taxes-,has been made, which
when collected shall be appropriated exclusively to the payment of this bond,
and of the series of which it is a part., and to the payment of the interest
coupons hereto annexed as the same shall become due; and that the total in-
debtedness of said City of Wichita Falls, Texas, including the entire series
of bonds of -.4hich this is one, does not exceed any constitutional or statutory
limitation.
IN WITNESS WHEREOF.. the City of Wichita Falls., Texas., by
its Board of Aldermen has caused its corporate seal to be affixed hereto, and
this bond to be signed by the Mayor and countersigned bythe City Clerk and
the interest coupons hereto attached to be executed by the lithographed or
printed facsimile signatures of the Mayor and City Clerk as of the lst day
of December, 1949.
Mayor, City of Wic)Xita Falls, Texas
COUNTERSIGNED:
City Clerk, ,City of Wichita FallsP Texas.
*(Bonds Nos. 1 to 28 2 both incl., 321% per annum;
Bonds No.s 29 to 100, it 11 2-3A% per annum).
**(This paragraph should be omitted from Bonds Numbers 1 to 34, both incl.)
736
28. The form of coupon shall be substantially as follows:
NO. ON THE 1ST DAY OF
, 19
The City of Wichita Falls, Texas, will pay to bearer,
*(unless the bond to which this coupon is attached shall have been called
for previous redemption as therein provided and provision for the redemption
thereof made), at the Chase National Bank.. New York,, New York, or., at the
option of the holder., at the Mercantile National Bank at Dallas, Dallas, Texas,
the sum of ($ ) Dollars,
in lawful money of the United States of America, being months' interest
due that day on 11City of Wichita Falls., Texas,, Fire Station Bond, Series
194911, dated December 1. 1949., No.
City Clerk Mayor
*(This parenthetical expression should be printed only in coupons maturing
June 1, 1965., and subsequent).
PERTAINING TO ALL ISSUS ABOVE DESCRIBED
29. That substantially the following certificate shall
be printed on the back of each bond:
OFFICE 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 City,, and that it is a valid
and binding obligation upon said City of Wichita Falls, Texas., and that said
bond has this day been registered by me.
WITNESS MY HAND and seal of office at Austin, Texas.
Comptroller of Public Accounts of the
(SEAL) State of Texas.
30. That the principal and interest of said bonds shall
be payable upon presentation and surrender of bond or proper coupon at the
Chase National Bank., New York, New York, or, at the option of the holder., at
the Mercantile hational Bank at Dallas, Dallas, Texas.
31. That each of said bonds shall be signed by the Mayor
and countersigned by the City Clerk and the corporate seal of the City of
Wichita Falls, Texas, shall be impressed upon each of them.
32. That 'he facsimile signature of the Mayor and City
Clerk may be lithographed or printed on the coupons attached to said bonds
and said facsimile signatures shall have the same effect as if they had been
executed manually by the said officials.
33. That special funds shall be created and are hereby
created to be designated as follows:
"City of Wichita Falls,, Texas, Waterworks Bonds., Series 1949 Fund?;
IlCity of Wichita Falls, Texas, Street Improvement Bonds, Series 1949
Fund,';
t'City of Wichita Falls, Texas, Park Bonds, Series 1949 Fund";
"City of Wichita Falls, Texas, Fire Station Bonds, Series 1949 Fund".
The proceeds of all taxes collected for or on account of each series of bonds
shall be credited to each such fund for the redemption of said bonds at
maturity and to pay the interest as it accrues thereon, and said funds shall
be used for no other purpose. To create said funds, a tax on the One Hundred
($100.00) Dollars, Valuation of taxable property in the City of Wichita Falls.,
Texas, is hereby levied for the year 1950, for the respective issues of bonds
as follows:
Waterworks Bonds - - 18
Street Improvement Bonds 11�O
Park Bonds 3�
Fire Station Bonds - - - - - - - - - - - JZT
Each year thereafter while any of said bonds or interest due thereon are un-
737
paid, and at the time other City taxes are levied during said years, there
shall be computed and ascertained what rate of tax., based upon the latest
approved tax rolls of said City will be necessary, requisite and sufficient
to fully make, raise and produce in eacin, of said years the current interest
and the required amount of the principal for such year, for each issue of
bonds, or a proportionate part thereof, and a tax at such rate within the
permitted rate on the One Hundred Dollars' valuation shall be levied, assessed
and collected during each of said years, for each issue of bonds and said
tax is hereby levied and ordered to be assessed and collected, and the taxes
collected shall be applied to said purpose and to no other purpose.
34. Be it further ordained that the Mayor of said City
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 con-
trol of the bonds hereinautlorized pending their approval by the Attorney
General, registration by the Comptroller of Public Accounts and their actual
delivery to the purchaser thereof.
35. The fact that the passage of this ordinance is
necessary for the immediate preaervation of the public business and property
of the City creates an emergency and an imperative
C> - public necessity that the
rule requiring ordinances to be read at more than one meeting be suspended
0
and that this ordinance be effective immediately from and after its passage,
and it is so ordained.
Alderman Parish presented for the consideration of the
Board of Aldermen a Resolution.
Alderman Thomas made a motion that the resolution be
adopted finally. The motion was seconded by Alderman Hunter. The motion
was carried by the following vote:
YEAS: Aldermen Abbott., Ray.. Thomas, Brown, Parish and
Hunter and Mayor Jones.
NAYS: None,
The resolution as adopted is as follows:
RESOLUTION NO. 46
BY THE BOARD OF ALDER14EN OF THE CITY OF
VICHITA FALLS,, TEXAS,, AWARDING TO THE
PURCHASERS $1,,250.,000.00 WATERWORKS BONDS,
SERIES 1949; $800,000.00 STREET IMPROVI�MiENT
BONDS, SERIES 1949; $200,000.00 PARK BONDS,
SERIES 1949, AND $100,000.00 FIRE STATION
BONDS, SERIES 1949.
WHEREAS, the Board of Aldermen of the City of Wichita
Falls,, Texas,, has under consideration the sale of its bonds, briefly described
as follows:
City of Wichita Falls,, Texas., W aterworks Bondsl
Series 1949, dated December 1. 1949, numbered One (1) to
One Thousand Two hundred Fifty (1.,250), both inclusive., of
the denomination of One Thousand ($1,000.00) Dollars each,
aggregating One Million Two Hundred Fifty Thousand
( I
$.L1250SO00.00) Dollars, bearing interest at the rates as
follows:
Bonds Nos. I to 409, both incl., 31% per annum;
2
Bonds Nos. 410 to 1250., It it 2_3/4% per annum,
payable December 1, ,950., and semi-annually thereafter on
June lst and December lst of each year and maturing serially
throughout the years 1950 to 1974, both inclusive.
CitT, of Wichita Falls, Texas, Street Improvement
Bonds, Series 1949, dated December 1, 1949, numb-red One
(1) to Eight Hundred (800), both inclusive., of the denomi-
nation of One Thousand ($1,000.00) Dollars each, aggregating
Eight Hundred Thousand ($800,000.00) Dollars, bearing inter-
est at the rates as follows:
Bonds Nos. 1 to 227, both incl., 3z'%per annum;
Bonds Nov. 228 to 800, 11 it 2-3/4% per annum,
payable December 1, 1950, and semi-annually thereafter on
June lst- and December lst of each year and maturing serially
738
throughout the years 1950 to 1974, both inclusive.
CD I
City of Wichita Falls, Texas, Park Bonds, Series
1949,, dated December 1., 1949,, numbered One (1) to Two
Hundred (200), both inclusive, of the denomination of One
Thousand ($1,000.00) Dollars each, aggregating Two Hundred
Thousand (200,000.00) Dollars, bearing interest at the rates
as follows:
Bonds Nos. 1 to 61, both incl., 31"' per annum;
BoInds Nos. 62 to 200 2-3��
% per annum,
payable December 1, 1950, and semi-annually thereafter on
June lst and December lst of each year and maturing serially
throughout the years 1950 to 1974, both inclusive.
City of Wichita Falls, Texas, Fire Station Bonds,
Series 1949, dated December 1, 1949, numbered One (1) to One
Hundred (100). both inclusive, of the denomination of One
Thousand ($1,000.00) Dollars each, aggregating One Hundred
Thousand ($100,000.00) Dollars., bearing interest at the rates
as follows:
Bonds Nos. 1 to 28, both incl., 312% per annum;
Bonds Nos. 29 to 100P It if 2-3/4% per annum,
payable December 1., 1950., and semi-annually thereafter on
June lst and December lst of each year and maturing serially
throughout the years 1950 to 1974, both inclusive,
and
WHEREAS., after having received and considered the offer
of Shields and Company, New Yorko New York, and associates, for said bonds.,
being par and accrued interest to date of delivery, it is considered to be to
the best interest of the City that said offer be accepted;
BE IT RESOLVED BY THE BOARD OF ALDERIM OF THE CITY ,OF
KCHITA FALLS., T&XA3:
1. That the-offir ofS hields and Company, New York,
New York, and associates,, for said bonds, being par and accrued interest to
date of delivery, be and the same is hereby accepted.
2. That the Mayor, City Clerk and City Treasurer be and
they are hereby ordered and directed to do any and all things necessary to
complete the delivery of said bonds to said purchasers in accordance with
their offer, and the receiving of the money for the benefit of the -City.
Alderman Thomas presented for the consideration of
the Board of Aldermen an ordinance.
The ordinance was read in full by the City Clerk.
ORDINANCE NO. 1509
Moved by Alderman Brown that Ordinance No. 1509 be approved and
passed as read on its first reading.
Motion seconded by Aldenuan Hunter and carried by the following
vote:
Yeas: Aldermen Abbott, Ray, Thomas., Brown., Parish and Hunter and
Mayor Jones. -
Nays: None.
- - - - - - - - - -
739
ORDINANCE NO. 1509
Moved by Alderman Hunter that the rule requiring that ordinances
be read on three separate days be and is hereby suspended, and declaring
an emergencyo
Motion seconded by Alderman Abbott and carried by the following
vote:
Yeas: Aldermen Abbott, Ray, Thomas, Brown, Parish and�hunter and
May-or Jones.
Nays: None.
ORDINANCE NO. 1509
Moved by Alderman Abbott that Ordinance No. 1509 be approved and
passed as read on its second reading.
Motion seconded by Alderman Parish and carried by the following
vote:
Yeas: Aldermen Abbott, Ray, Thomas, Brown,, Parish and,Hunter and
Mayor Jones.
Nays: None.
ORDINANCE NO. 1509
Moved by Alderman Brown that Urdinance No. 1509 be approved and
passed as read on its third and final reading and declaring an emergency.
MI
otion seconded by Alderman hunter and carried by the following
vote:
Yeas: Aldermen Abbott, Ray2 Thomas, Brown, earish and Hunter and
Mayor Jones.
Nays: None.
The ordinance as passed is as follows:
ORDINANCE NO. 1509
BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS.,
TEXAS, PROVIDING FOR THE ISSUANCE OF CITY OF WICHITA
FALLS., TEXAS,, SEWER REVENUE BONDS., SERIES 1949., IN THE
AGGREGATE AMOUNT OF NINE HUNDRED THOUSAND ($9002000.00)
DOLLARS., BEARING INTERbST AT THE RATES HEREINAFTER SET
FORTH, TO SECURE FUNDS FOR THE PURPOSE OF CONSTRUCTING,
REPAIRING, IMPROVING AND EXTENDING THE SANITARY SH31LRS
OF SAID CITY; PRESECIBI14G THE FORM OF BOND; PLEDGING
THE REVENUES OF THE CITY'S SEWER SYSTEM TO THE; PAYMENT
OF THE PRINCIPAL AND INTEREST OF SAID BONDS; PROVIDING.
FOR THE EXPENSE OF OPERATING SAID SYSTEM; MAKING CERTAIN
COVENANTS OF THE CITY IN REFERiLNCE TO THE BONDS AND THE
BOND FUND FROM WHICH SAID PRINCIPAL AND INTEREST ARE TO
BE PAID; PROVIDING THAT THE' HOLDSH OR HOLDERS OF SAID
BONDS SHALL NEV_k2 HAVE THE RIGHT TO DEMAND PAYMENT OF
SAID OBLIGATIONS OUT OF ANY FUNDS RAISED OR TO BE RAISED
BY TAXATIONJ$ REPEALING ALL ORDINANCES IN CONFLICT HERE-
IWITH., AND DECLARING AN EMERGENCY.
WHEREAS,, the Board of Aldermen of the City Of Wichita
Falls, Texasp has heretofore determined that it is to the best interest of the City
and of its inhabitants that it issue revenue bonds of said City for the purpose of
constnuctingj, repairing, improving and extending the sanitary sewers of said
City; and
WHEREAS, pursuant to such determination, the Board of
Aldermen of the City of Wicl-Lita Falls, adopted a resolution on November 14.,
1949, calling an election on the following proposition:
"Shall the Board of Aldermen of the City of Wichita
Falls., Texasp be authorized to issue the bonds of said City
in the amount of $900,000.00, maturing serially in such in-
740
stallments as may be fixed by the Board of Aldemen,, the maxi-
mum maturity being not more than Twenty Five (25) years from
their date,, bearing interest at a rate not to exceed Three
and one-half (321%) per cent per amrium,, for the purpose of
constructing, repairing, improving and extending the sanitary
sewers of said City, to be issued in accordance with and
secured in the manner provided in Articles 1111-1118, both
inclusive, of the Revised Civil Statutes of Texas., 1925, as
amended, each bond to be conditioned that the holder thereof
shall never have the right to demand payment of said obli-
oation out of funds raised or to be raised by taxation,, secur-
ed by a pledge of the net revenues from the operation of said
system.11
and
MHEREAS, at the election held ins aid City on the 6th day
of December., 1949., a majority of the resident,, qualified electors owning
taxable property in said City., and who had duly rendered the same for tax-
ation., voting at said election sustained the proposition to issue the bonds
hereinafter described by the following vote:
"FOR THE ISSUANCE OF SEWER REVENUE BONDS" 3618 Votes;
"AGAINST THE ISSUANCE OF SEWER REVENUE BONDS" 1042 Votes;
and
WHEREAS., the City has authority., generally., to pass this
ordinance authorizing the issuance of revenue bonds for the purpose of con-
structing., repairing, improving and extending the sanitary sewers of said
C
City, under the Constitution and Statutes of the3tate of Texas, including
particularly Articles 1111 to 1118, both inclusive, of the 1925 Revised Civil
Statutes of Texas., as amended 0 and Chapter 163., Acts of the Regular Session
of the Forty Second Legislature, as amended; and
WHEREAS., it is now necessary and proper that the Board of
Aldermen proceed with the issuance of such revenue bonds;
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF
WICHITA FALLS., TEXAS:
1. That to provide funds for the purpose of constructing,
repairing, improving and extending the sanitary sewers of said City., pur-
suant to the Constitution and Statutes of the State of Texas, including
particularly Articles 1111-1118, both inclusive, of the 1925 Revised Civil
Statutes of Texas, as amended, and Chapter 163, Acts of the Regular Session
of the Forty Second Legislature, of Texas, as amended, there shall be issued
"City of Wichita Falls., Texas, Sewer Revenue Bonds, Series 194911., aggregating
Nine Hundred Thousand ($900.,000.00) Dollars, numbered from One (1) to Nine
Hundred (900) both inclusive, of the denomination of One Thousand ($1,000.00)
Dollars each.
2. That said bonds shall be dated December 1, 1949, and
shall bear interest at the rates as follows:
Bonds Nos. 1 to 375, both incl,., 34% per annum;
Bonds Nos. 376 to goo, tt 11 -3/4% pet annum,
payable June 1., 1950,, and semi-annually thereafter on December lst and June
lst of each year.
3. That the principal and interest of said bonds shall
be payable in lawful money of the United States upon presentation and sur-
render of bond or proper coupon at The Harris Trust and Savings Bank,
Chicago, Illinois, or, at the option of the holder, at the Mercantile
National Bank at Dallas, Dallas, Texas,, and they shall mature as follows:
741
BONDS NU'IABERS MATURITY DATES AMOUNTS
1 to 20, both incl., December 11 1950, 20,000.00
21 to 40., December 11 1951., 202000.00
41 to 65,s December 12 1952j 25j,000,00
66 to 90., It December 10 1953, 25,9000-00
91 to 115, December 12 1954, 252000,00
116 to 145,, December 11 1955, 30,9000-00
146 to 175, December 12 1956, 30P000.00
176 to 205,, December 11 1957, 30,,000.00
2o6 to 235s. December 12 1958, 30"000.00
236 to 270., December 11 1959, 35.,000.00
271 to 305., December 10 1960, 35,000-00
306 to 340., December 1, 19612 35�,000-00
341 to 375., December 11 1962, 35,000-CC
376 to 4109 December 11 1963, 35,000-00
411 to 450.1 tt 11 December 1 P 1964, 40,000.00
451 to 490JP December 12 1965, 40.,000.00
491 to 530., December 1, 1966, 40,000.00
000.00
531 to 570P It December 11 19671 40.9
571 to 615,, December 12 19682 45s,000.00
616 to 660
December 12 1969, 45sOOO.00
661 to 705.. December 1, 1970, 45.,000.00
706 to 7502 December 1., 1971, 45.,000.00
751 to 800,, December 11 1972, 50.,000.00
801 to 850., It It December 1, 19739 50"OOO.QQ
851 to 900j, December 10 1974, 50,000,00
4. The City reserves the option of redeeming bonds numbers
Four Hundred Fifty One (451) to Nine Hundred (900)., both inclusive, on December
11 1964, or on any interest payment date thereafter at a price of par and
accrued interest to date fixed for redemption. Notice of such redemption is
to be published in a financial publication in the City of Chicago., State of
Illinois, and in the official newspaper of the City of Wichita Falls, Texas,
at least once, not less than thirty (30) days before the date fixed for re-
demption., and thirty (30) days notice in writing is to be given to the banks
of payment before the date so fixed for redemption. If by the date fixed for
redemption funds sufficient to pay the bonds called and accrued interest thereon
shall be placed in one of the banks of payment to be designated in the notice,
they shall not thereafter bear interest. In the event less than all of the
bonds outstanding and eligible for prior redemption shall be thus called the
bonds then proposed to be redeemed shall be called in the inverse order of
their maturities, and if less than all outstanding bonds of a maturity are
called, the bonds of such maturity shall be called by lot.
5. Each of said bonds shall be signed by the Mayor and
countersigned by the City Clerk, and the corporate seal of the City of Wichita
Falls shall be impressed upon each of them. The facsimile signatures of the
Mayor and City Clerk may be lithographed or printed upon the coupons attached
to said bonds and shall have the same effect as if they had been signed by
said persons.
o. That said bonds shall constitute special obligations
of the City of Wichita Falls and each of said bonds shall contain the pro-
vision that the holder hereof shall never have the right to demand payment
of said obligation out of any funds raised or to be raised by taxation.
7. The form of said bonds shall be substantially as
follows:
NO. $lLqOO.00
UNITED STAT&S OF AMERICA
STATE OF TEXAS
COUNTY OF WIDHITA
CITY OF WICHITA FALLS
S94E,R REVENUE BOND
SERIES 1949
The City ofNlichita Falls, in the County of Wichita, State
of Texas,, a municipal corporation duly incorporated under the laws of the
State of Texas, for value received, hereby acknowledged itself indebted to and
promises to pay to the bearer hereof on the lst day of December, 19
the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America., with interest thereon from
the date hereof at the rate of (*%) per cent per annum, payable June 1, 1950p
and seiai-annually thereafter on December lst and June lst of each year. In-
terest shall be payable in lawful money of the United States of America, upon
742
presentation and surrender of proper coupons as they severally' become due,
both principal and interest being payable at the Harris Trust and Savings Bank,
Chicago., Illinois, or, at the option of the holder, at the Kercantile
National Bank at Dallas, Dallas, Texas.
This bond is one of a series of bonds of like tenor and
effect, except as to number, interest rate, maturity and right of prior
redemption, numbered One (1) to kne Hundred (900), both inclusive, of the
denonination of One Thousand ($1,000.00) Dollars each., aggregating Nine
Hundred Thousand ($900,,000.00) Dollars, issued by the City of Wichita Falls,
Texas,I for the purpose of constructing, repairing, improving and extending
the sanitary sewers of said 'City, in accordance with the Constitution and
laws of the State of Texas., and pursuant to an ordinanc� passed by the Board
of Aldermen duly recorded in the minutes of said Board of Aldermen.
The date of this bond in conformity with the ordinance
above mentioned is December 1. 1949.
'--,(The City reserves the option of redeeming this bond on
Dece.-mber 1, 19642 or on any interest payment date thereafter at a price of
par and accrued interest to date fixed for relemption. Notice of such re-
demption is to be published in a financial- publication in the City of Chicago,
state of Illinois and in the official newspaper of the City of Wichita Falls,,
Texas, at least once, not less than thirty (30) days before the date fixed for
redemption, and thirty (30) days notice in writing is to be given to the banks
of payment before the date so fixed for redemption. If by the date fixed for
redemption, funds sufi'" cient to pay this bond and accrued int&r"st thereon
shall have been placed in one of the banks of payment, to be des-*Lgnated in the
notice, it shall not thereafter bear interest. In the event less than all
of the bonds outstanding and eligible for prior redemption shall be thus
called t-he bonds then proposed to be redeemed shall be called in the inverse
order of their maturities and if less than all outstanding bonds of a maturity
C�
are called., the bonds of such maturity shall be called by lot.)
This bond and the series of which it is a part constitute
special obligations of the City of Wichita Falls" Texas, payable both as to
principal and interest from and secured by a first lien on and pledge of the
revenues of the Sewer System, after deduction of reasonable operation and main-
tenance expenses, including all salaries., labor, materials, repairs and ex-
tensions necessary to render efficient serv-1ce. 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.
AITD IT IS HEHEBY CERTIFIED AND RECITED that the issuance
of this bond and the series of which it is a part, is duly authorized by law
and by a majority of the resident, qualified elector3 owning taxable p
c roperty
in said City, and who have duly rendered the same for taxation, voting at an
election held for that purpose within s�dd City on the 6th d�y of December,
1949; that all acts,, conditions and th-ings required to exist precedent to and
in the issuance of this bond to' render the same lawful and valid have been
properly done., have happened and been performed in regular and due time, form
and manner as required by the Conatitution' and laws of the State of Texas, the
Charter of said City and the ordinance hereinabove mentioned, and that tKis
series of revenue bonds does not exceed any constitutional, statutory or
charter limitations., and that provision has been made for the payment of the
principal and interest of this bond and the series of which it is a part by
irrevocably pled6ing to the payment thereof the net revenues of said sewer
system of the City of Wichita Falls.
IN TESTIY40NY WHEREOF, the Board of Aldermen of the City
of Wichita Falls, Texas,, has caused tile seal of said City- to be impressed
hereon and this bond to be signed by the Mayor and countersigned by the City
Clerk, and has caused the annexed coupons to be signed by the lithographed
or printed facsimile signatures of the Mayor and City Clerk.
Mayor, City of Wichita Falls., Texas
CCUNTER31GNED:
City Clerk, City of Wichita Falls,, Texas
*kBonds Nos. 1 to 375., both incl., 3Z'% per annum;
Bonds Nos. 376 to 9003, If If 2-3/4%. per annum.)
*�(This paragraph should be omitted from Bonds Nos. 1 to 450J, both incl.)
742
8. The form of said coupons shall be substantially as
follows:
NO.
ON THE 1ST DAY OF
" .19
The City of Wichita Falls, Texas, out of revenues specified
in the bond to which this coupon is attached, will pay to the bearer *(unless
the bond to which this coupon is attached shall have been called for previous
redemption as therein provided and provision for the redemption thereof made).,
at the Harris Trust and Savings Banks Chicagos Illinoiss
or, at the option of the holder, at the Viereantile National Bank at Dallas,
Dallas, Texas, the sum of ($
Dollars in lawful money of the United States of America., said sum being
months' interest due that day on "City of Wichita FallsTexas, Sewer Revenue
Bond, Series 194911, bearing the number hereinafter specified, dated December
11 1949p The holder hereof shall never have the right to demand payment of
this obligation out of funds raised or to be raised by taxation., Bond No.
City Clerk Mayor
*(This parenthetical expression should be printed only in coupons maturing
June 1. 1965, and subsequent).
9. The form of Comptroller's certificate, which shall
be printed on the bank of each bond shall be substantially as follows:
OFFICE 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 charter of said City, and that it is a valid and
binding special obligation of said City of Wichita Falls, Texas, payable from
the revenues pledged to its payment by and in the ordinance authorizing same
and said bond has this day been regEstered by me.
WITNESS MY HAND and seal of office at Austin., Texas,
Comptroller of Public Accounts of the
(SEAL) State of Texas.
10. After the bonds have been executed by the City offi-
cial-s as hereinabove provided, they shall be presented to the Attorney General
of the State of Texas, for examination and approval. After the bonds have been
approved by the Attorney General, they shall be registered by the Comptroller
of Public Accounts of the State of Texas.
11. All properties of every nature now or hereafter while
any of the bonds of this issue remain outstanding, owned by the City and used
or useful in the operation of its sewer system, including real estate, per-
sonal and intangible propertiess whether lying within or without the boundaries
of the City, and including all improvements, additions and extensions which
giay be made to said properties are in this ordinance referred to as the
ttSystemit.
The term t1net revenues" shall mean the gross revenues from
the System minus the expens*es of operation and maintenance thereof., including
all salaries, labor, materials., interests repairs and extensions necessary to
render efficient service and every proper item of expense, including such
items required by Article 1113 of the Revised Civil Statutes of 1913, as
amended; and where used in this ordinance the term "operation and maintenanceft
shall include all such items.
The tem Bonds or "bonds"s as used herein I shall mean any
of the issue of revenue bonds aggregating $900,000.00 authorized in this
ordinance.
12. Said "City of Wichita Falls., Texas, Sewer Revenue
Bonds"s are payable from and secured by a first lien upon and pledge of, the
Net Revenues of said System.
SPECIAL COVENANTS AS TO RATES AND FUNDS
13. The Board of Aldermen hereby covenants and agrees
that it wil1J, at all times while any of the Bonds, or any interest thereon,
are outstanding and unpaid, charge and collect for services rendered by said
System rates sufficient to pay all maintenances depreciation., replacement�
743
betterment and interest charges and to provide an Interest and Sinking Fund
sufficient to pay the interest and principal of the bonds as such interest
and principal mature and any outstanding indebtedness against the System as
is required by Article 1113., ReNised Civil Statutues of Texas, as amended.
For the benefit,of the original purchaser., and for the benefit of any and all
subsequent holders of said Bondss coupo*ns,, or any part thereof., and in
addition to all other provisions and covenants in the laws of the State of
Texas and in this ordinance, it is expressly covenanted:
A. RATES: The City shall fix and maintain rates and
collect charges for the facilities and services afforded by the System, which
will provide revenues sufficient at all times:
(1) To pay for all operating2 maintenance,, depreciation.,
replacement and betterment charges of the System, as required under Article
1113, Revised Statutes of Texas as amended;
(2) To establish and maintain the Interest and Sinking Fund
(including the Reserve Account) hereinafter defined;
(3) To establish and maintain the Operating Reserve Fund
(hereinafter defined);
(4) To pay all outstanding indebtedness against the System
other than the Bonds, as and when the same becomes due.
B. 3SE OF IUWE�'NUES: The City,will deposit as collected
all revenues derived from the operation of the System into a separate account
(herein called the "Sewer System Fund"), which shall be kept separate and
apart from all other funds of the City, The Sewer System Fund shall be
administered as follows:
(1) There shall be set aside monthly in a separate account
in the Sewer System Fund to be known as the "Maintenance and operation ,Fundtf.,
such an amount as shall be found necessary to keep such fund at all times
sufficient to pay the reasonable expenses of operation and maintenance of
the System and such expense shall be paid out of said Fund.
(2) INTER-LIST AND SINKING FUND: There is hereby created and
ordered to be established in the Depository of the City a "Sewer Revenue Bond
Interest and Sinking Fund". From time to time as specified in this Subsection
(2),, money shall be tr,-Li-isferred froyn 11"t. Sewer System Fund., after provision
shall have been made for the Maintenance and Operation Fund, to be used in
paying the principal of and interest on theBonds. The following provisions
shall remain effective so long as any of the Bonds shall rewain outstanding
and unpaid: On or before January 10., 1950., -arid on or before the 10th day of
each month thereafter while any of the Bonds are outstanding the City shall
pay into said Fund an amount of money not less than one-twelfth of the next
installment of principal scheduled to mature; one-si'Xth of the next semi--
annual installment of interest; plus an amount equivalent to twenty per
cent of both such items, until a date when all of the following conditions
exi s t: .
(a) There shall have been no default in the payment of
any of the bonds or interest thereon;
(b) All of the payments required by this ordinance (herein-
after sometimes called the "Bond Ordinance") to be made into the Interest and
Sinking Fund prior to aarid on such date shall have been made; and
(c) There shall have been accumulated and shall exist in
such Fund an amount (herein called the "Reserve") sufficient to pay the prin-
cipal and interest scheduled to mature during the next succeeding calendar
.Year*
After the one year Rexerve shall have been completed and
so long as it remains intact, the monthly payments to Interest and Sinking,
Fund may be made without the 20% margin requirement; but if at &ny time ict
becomes necessary to use temporarily an.y part of such Reserve for the payment
of principal or interest., any amounts thus used shall be restored by a resumption
of such margined payments until tire Reserve is again intact.
In order that sufficient funds will be available to pay the
installment of interest maturing June 1, 1950, and the principal maturing
Dece�mber 1. 1950, and to provide the 20% margined payment for the Reserve
there is hereby appropriated from revenues currently accruing from the
operation of the City's Sanitary Sewer system the sum of $4,700.00.
On the occasion of the passage of each ordinance authoriz-
ing the issuance of any additional bonds of equal dignity as hereinafter per
mitted (hereinafter called "Additional Bonds") proper provision shall be made
744
therein for payments into said Fund of money sufficient to pay the installments
of interest on and principal of such Additional Bonds plus the twenty (2016)
per cent margin for creation of a proportionate part of the Reserve. It is
the intention of this Subsection that the same provisions for meeting the semi-
annual interest and maturities, as they fall due and a Reserve be created to
secure the payment of any Additional Bonds which may be issued as permitted
by Section 14 hereof.
The monies in the Interest and Sinking Fund shall be used
solely for the purpose of paying interest on and principal of the Bonds of this
issue until all Bonds have been retired; provided, that, when the total amount
in the Interest and Sinking Fund (including the Reserve) is equal to the
aggregate principal amount of the Bonds outstanding plus all unpaid coupons
thereto appertaining unmatured and matured., no further pa3rnents need to be
made into the Inter-,st and Sinking Fund.
Not less than 10 days prior to each interest and principal
payment date it shall be the duty of the City to withdraw from the Interest
and Sinking Fund primarily., but, if necessary from any other Fund (except
the Maintenance and Operation Fund) established in this Section 13, moneys
sufficient to pay the interest and the instalLment of principal, and to forward
such money to the said banks df payment. At the same time the Cit-y shall
remit to said banks of payment, out of the Sewer System Fund, an amount suffi-
cient to pay the charges made by such banks for making such disbursements for
payment of principal and interest.
(3) The moneys paid into the Interest and Sinking Fund
shall be continuously secured by a valid pledge of direct obligations of,
or obligations unconditionally guaranteed by the United States of America,
having a par value or market value when less than par.. exclusive of accrued
interest, at all times at least equal to the money deposited in the Interest and
Sinking Fund. The Reserve, at the option of the City, may be invested in direct
obligations, of, or unconditionally guaranteed by, the United States of America,
and deposited in escrow under an escrow agreement, or deposited in the trust
department of the depository. If such money is so invested and the bonds
deposited in escrow or in the trust department of the depository., theCity
shall have the ri6ht to have sold throu,�-�h the escrow agent or through the trust
department of such depository on the open market a sufficient amount of said
securities in order to meet its obligations of principal and interest in event
it does not have sufficient funds uninvested on hand for such purpose. Under
such circumstances, the Mayor is hereby authorized, ordered and directed to give
written notice to such escrow agent or such depository bank of the necessity to
sell said securities on the open market. After such sale, the monies resulting
therefrom shall belong to the Interest and Sinking Fund and shall be available
to pay such obligation of principal or interest or both principal and interest,
In the event the Reserve is depleted in instances as
provided in the last preceding paragraph, it shall be the duty of the City
to restore such monies by resuming the monthly deposit of funds margined by
20% in excess of actual requirements as hereinabove in this section provided.
(4) OPSHATING RESERVE FUND. The "Operating Reserve Fund"
is hereby created. Except as hereinafter provided in this Subsection (4)
money in such Fund shall be used only for extensions and replacements of and
improvements to the City's Sewer System, such as are not ordinarily consider-
ed as maintenance and operation expenditures, Payments into such Fund shall
be made and the money in the Fund may be used in the following manner:
(a) At all times money in such Fund which shall not be
committed actually under construction contracts, shall remain available and
shall be used by the City to prevent or relieve any default in the payment
of the principal of or interest on the Bonds;
(b) At any time when the Fund contains not less than
$25,000.00 not committed under construction contracts, any money in excess
thereof
.L., maj% ,, within the discretion of the Board of Aldermen, be withdrawn
for the purpose and used for the purpose of redeeming Bonds- prior to their
maturity in accordance with the redemption provisions contained in this
ordinance and in the Bonds;
(c) There is hereby created and ordered to be established
in the Depository of the City a Fund to be known as the ItOperating Reserve
Fund.'? On or before the 10th day of each month after the required monthly
payments have been made to the Interest and Sinking Fund,, including the 20/10
margined for Reserve, there shall be placed in the Operating Reserve Fund out
of the funds remaining in the Sewer System Fund such monies as will in approxi-
745
mately equal monthly installments acculnulate in said said operating Reserve Fund
within the two fiscal years next succeeding the date of this ordinance a sum
at least equal to one half of the total operating and maintenance expenses
for the previous fiscal year. It is tile intention of this provision that so
-ional Bonds are outstanding there shall
long as any of the Bonds or Addit
always be on deposit in said Operating Reserve Fund a sum equal to not less
than one half of the preceding yearls operating and maintenance costs. The
deposits into this Fund shall be subordinate to those required to be made
into the Interest and Sinking Fund. Whenever any money is paid out or when
for any reason said operating Reserve Fund shall be depleted., payments into
said Fund shall be resumed and continued until such time as the minimum amount
te-quired to be in such Fund has been fully restored.
(5) When the City is not in default in any of its obli-
gations under said ordinance, and after the Reserve hereinabove prescribed
shall have been completed and is intact, and when there shall be in the
Operating Reserve Fund a sum of money not less than one half of the previous
year operating and maintenance expenses, nothing in this ordinance shall pro-
hibit the City from utilizing monies in the Sewer System Fund in excess of all
such requirements within the discretion of the Board of Aldermen for any city
purpose permitted by law.
(6) If in any fiscal year the City shall, for amy reason,,
fail to pay into the Interest and Sinking Fund, including the Reserve, and the
Operating Reserve Fund the full amoants above stipulated, moneys equivalent
to such deficiencies shall be paid into said Funds from the first available
and unallocated revenues of the next fiscal year or years., and such payments
shall be in addition to the amounts hereinabove required to be paid into said
Funds during such fiscal year or years.
14. General Covenants:
The City covenants with the holders of the Bonds so long
as any of the Bohds are outstanding:
(1) The City shall not issue any other Sewer Revenue Bonds'.
secured by a pledge either superior to or on a parity with the pledge securing
the bonds of this issue (hereinafter called "Additional Bonds") payable from
the revenues of the System, while any of the Bonds of this issue are outstand-
ing except under the following condit-Lons:
(a) That such bonds shall be authorized by the qualified
electors of the City at an election held for that purpose; and
(b) That the Net Revenues of the System for each of the two
completed fiscal years next preceding the date when it is proposed to issue
such Additional Bonds have been an amount not less than 1-3/4 times the highest
aggregate of annual principal and interest reqlirements of the Bonds of this
issue and such Additional Bonds; and also when the annual New Revenues antici-
pated to be received Lhrpughott the term of the Bonds and such additional Bonds
shall be an amount not less than 1-3/4 times the highest aggregate of annual
principal and interest requirements of the Bonds of this issue and such
Additional Bonds;
(c) The proceeds of such Additional Bonds shall be used
solely for the making of renewals, replacements, improvements, betterments
and extensions of the Sewer System which are determined by the Board of
Aldermen to be necessary and economically feasible;
M The Citr shall not at the time of the issuance of
such Additional Bonds be in default of any of the provisions,, requirements
or covenants of this ordinance.
(e) That the principal of the Additional Bonds shall mature
on December 1 of each of the years in which they are scheduled to mature and
that the semi-annual installments of interest shall mature on.June land
December 1 of each such years.
Addition,�l Bonds issued under such conditions shall be
secured by a pledge of revenues on a parity with the pledge securing the
issue of bonds authorized by this ordinance.
(2) INSLHANCE: That so long as any of the Bonds are out-
standing the City will maintain insurance on the insurable property of the
System in amounts and against hazards substantially in accordance with the
practice of pu`blic c.orporat-Jons which own and maintain sewer systems similarly
encumbered,
746
(3) ACCOUNTS AND PERIODIC STATE�MT: The City will in-
stall and maintain a complete system of records and accounts pertaining to
the System in the manner provided by Article 1113 of the Revised Civil Statutes
of 1925 as amended by Chapter 139 Acts of the Regular Session of the Forty
Eighth Legislature. The City shall cause an audit of the records pertaining
to the System to be made each year by an independent auditor, and a copy of
such audit together u-ith a copy of the latest available operating and income
statements shall be furnished to John Nuveen and Company, 135 La Salle Street,
Chicago., Illinois, and to any holder of any of the Bonds, at the written re-
quest of such holder.
(4) That money in the Sewer System Fund shall be secured
in the manner prescribed by the applicable laws of the State of Texas.
(5) Inspection: Any holder or holders of 25 per centum
in aggregate principal amount of theBonds at the time then outstanding shall
have the right at all reasonable times to inspect the System and all records,
accounts and data of the City relatin,, thereto,
(6) That nothing in this ordinance shall require the
City to make any expenditure except from money in the Sewer System Fund,
but nothing herein shall prohibit the City from dolng so;
(7) That (except under conditions set forth in Subsection
(1) of this Section 14) the City will not suffer any indebtedness on a parity
with or superior to the bonds other than the Bonds of this issue to accrue
against the System, but that if the System should become liable for any other
indebtedness the Board of Alder-aen will fix and maintain rates and collect
charges for the services afforded by the System sufficient to discharge any
such indebtedness.
(8) That no free service of the System shall be allowed.,
and should the City or any of its agencies or instnmientalities make use
of the services and facilities of the System, payment of the reasonable
value thereof shall be made by the City out of funds other than the revenues
of the System.
(9) That Revenue Bonds authorized hereunder shall be spe-
cial obligations of the City, and the holder thereof shall never have the
right to demand payment thereof out of funds raised or to be raised by tax-
ation.
(10) That it has the lawful power to pledge the revenues
supporting this issue of Bonds and has lawfully exercised said power under
, the Constitution and laws of the State of Texas, and the Charter of this
City, including said power existing under Articles 1111 to 1118, both in-
clusivej, Revised Civil Statutes of the State of Texas, with amendments
theretos Chapter 163, Acts of the Regular Session of the Forty Second Legis-
lature and Chapt-.r 249, Acts of the Regular Session of the Fifty First
Legislature; that the Bonds of this issue shall be ratably secured under said
pledge of income, in such manner that one Bond shall have no preferences over
the other bonds of said issue.
(11) That other than for the payment of the bonds herein
provided for, the rents., revenues and income of the said System have not in
any manner been pledged to the payment of any debt or obligation of the City
or of said System,
(12) Covenant to Operate. That the City will maintain and
operate the System with all practicable efficiency while any of the bonds of
this issue or Additional Bonds remain outstanding and unpaid and that it will
faithfully and punctually perform all duties with reference to the System re-
quired by the Constitution and laws of the State of Texas, and this ordinance,
including the malfing and collecting of reasonable and sufficient rates for
services rendered by the System and the segregation and the application of
the revenues of the System as required by the provisiDns of this ordinance.
(13) Retention 2f_gXstem. The City hereb,,, covenants that
it will not sell, lease, or in any manner dispose of the System or any sub-
stantial part thereof so long as any of the bonds of this issue are outstand-
ing and unpaid; provided that this covenant shall not be construed to prevent
the disposal by the City of property whiclx in its judgment has become useless
or whose use would be uneconomical in connection with the System.
(14) Competing System. That so far as it legally may
the City covenants and agrees for the protection and security of the Bonds
of this issue or Additional Bonds that it will not grant a franchise for ,the
operation of any competing sewer system so long as any of the bonds are out-
standing and unpaid.
747
(15) That the City will cause to be rendered monthly to
each customer receiving water and sanitary sewer service a single statement,
and will not accept payment for one service without payment for the other
service, and will use its powers under existing ordinances and under all such
ordinances to become effective in the future to enforce payment to withhold
service from delinquent cuctomers and to enforce authorized reconnection
charges; further that the City will endorce all applicable ordinances under
which it may require the owners of property to connect with and use sanitary
sewer service where such service is available to serve such properties.
15. The City Manager and City Auditor are hereby in-
structed and directed to do any and all things necessary or convenient in
reference to the installing and maintaininE, of a complete system of records
and accounts pertaining to said System and to make the monies available for the
payment of the Bonds in the manrer provided by Article 1-113 of the Revised Civil
Statutes as amended.
16. It shall be the d4ty of the Mayor (or attorneys acting
for the City) to submit the record of said bonds and the Bonds to the Attorney
General of the State of Texas for approval and thereafter to have the Bonds
registered by the Comptroller of the State of Texas.
17. The revenue bonds when properly executed by the City
Officials, approved by the Attorney General and registered by the Comptroller
of Public Accounts of the State of Texas., shaU be held by the Mayor of the
City until delivered to the proper purchaser or purchasers thereof. The
Mayor,, City Auditor and City Clerk, and City Treasurer are authorized and
directed to do any and all things necessary or convenient to effect delivery
thereof to purchaser.
18, The sale of theBonds to John Nuveen and Company,,
Chicago., Illinois., and associates at a price of par and accured interest to
date of delivery., plus a premium of $2,131-39, is hereby ratified and confirmed.
19. All ordinances and resolutions and parts thereof
in conflict herewith are hereby expressly repealed insofar as they conflict
hert'-with.
20. The fact that the City of Wichita Falls is in great
need of funds for the improvement, extension,, enlargement and repair of its
Sanitary Sewer System, creates an urgency and an emergency, for the immediate
preservation of public health., peace and safety and re-uires that this
ordinance shall take effect immediately upon and after its passage, and it
is accordingly so ordained.
- - - - - - - - - -
Iloved 1by Aldeimaji Parish t, at ", a 3oand of A'! an approve the
I � Li L1 - III
Amended Contract by and between John Nuveen & Co. and Associates and the
City of Wiebita Falls, as �ereinafter set forth; further to authorize and
empower Mayor Hai-old Jones to execute the said Amended Contract for and on
behalf of the City of Wichita Falls,
Motion .9econded by Alderman Ray and carried.
Wichita Falls ,, Texas
To the �Ionorable Mayor and Board of Aldem.en December 14-1., 1949
City of Wichita Falls
WichitaFalls., Texas
Gentlemen:
Supplementing our contract with your city dated November 7, 1949, with
reference to the purchase by the undersigned of your $900,000.00 Sewer
Revenue Bonds, we wish to comply -with the terms and conditions of the
bidding and with particular reference to Paragraph 3 that states:
"The basis for adjustment of the interest rates named shall
be the Dow-Jones Index of Municipal Bond Averages as pub-
lished weekly in the 11all Street Journal, and the final
weighted average interest rate after giving effect to im-
provement in the municipal bond market, if any, shall be
arrived at by deducting from the average rates as named in
the Successful bid or bids, a percentage eauivalent to the
difference between published Dow-Jones averages current for
the week endinE November 7, 1949, and the published Dow' -Jones
average current for the week in which the ordinances author-
izing the issuance of the several issues of bonds shall be
passed.11
748
The Dow-Jones averages as published by -111-heWall Street Journal dated
December 1w, 1949 are 2.09%.
In accordance, we, therefore, wish to establish interest rates for the
$900,000 Wichita Falls,, Texas Sewer Revenue Bonds as follows:
For bonds maturing 1950 to 1962 inclusive to bear interest
at the rate of 314% from date.
For bonds maturing 1963 to 1974 inclusive to bear interest
at the rate of 2-3/4% from date.
It is agreed and understood that we will pay par and accrued interest
from date to date of delivery for the bonds as above described and.,
in addition thereto
,, a premium of $2.,'31-39.
The above combination of interest rates plus the premium., as above
stated, the City of Wichita Falls will receive the adjusted weighted
average inte�est rate of 2.8419%.
Respectfully submitted,
JOHN NUVEEN & Co.
B. J. VAN !NGEN & CO.) INC.
A14D ASSOCIATES
- - - - - - - - - -
Alderman Ray presented for the consideration of the Board of
Aldermen an ordinance.
The Ordinance was read in full by the City Clerk,
- - - - - - - - - -
ORDINANCE NO. 1510
Moved by Alderman Ray that Ordinance No. 1510 be approved and
passed as read on its first reading.
vote: Motion seconded by Alderman Hunter and carried by t.he following
YEA3: Aldermen Abbott., Ray., Thomas., Brown, Parish and Hunter and
Mayor Jones.
NAYS: None.
- - - - - - - - - -
ORDINANCE NO. 1510
Moved by Aldei-man Parish that the rule requiring that ordinances
be read on three separate days be and is hereby suspended, and declaring
an emergency,
Motion seconded by Alderman Thomas and carried by the following
vote:
YEAS: Aldermen Abbott., Ray, Thomas,, Brown, Parish and Hunter and
Mayor Jones.
NAYS; None.
ORDINANCE NO. 1510
Moved by Alderman Ray that Ordinance No. 1510 be approved and
passed as read on its secnd reading.
Motion seconded by Aldennan Hunter and carried by the following
vote:
YEAS: Aldermen Abbott., Ray,, Thomas, Brown, -Parish and Hunter and
Mayor Jones.
NAY3: None,
- - - - - - - - - -
ORDINANCE NO-.1510 749
Moved by Aldei-man Brown that Ordinance No. 1510 be approved and
passed as read on its third and final reading., and declaring an emergency.
Motion seconded by Aldeman Parish and carried by the following
vote:
YEAS: Aldermen Abbott,, Ray., Thomas., Brown., Parish and Hunter and
Mayor Jones.
NAYS: None.
The ordinance as passed is as follows:
ORDINANCE NO. 1510
FIXING THE SEWER RATES FOR THE CITY OF
�,,TICHITA FALLS, TEXAS, AND ORDAINING OTHER
MATTERS RELATIVE TO RENDERING SEWER 31ffiVICE,
Tb.XAS: BE IT ORDAINED BY THE BOARD OF ALDEiDTIEN OF THE CITY OF 7,11CHITA FALLS,
1. That the sewer rates to be charged and collected by the City of
Wichita Falls., Texas., from all customers obtaining service from said Sewer System
of said City shall be and are hereby fixed as set forth below.
A. For domestic users comprising one family residences., two family residences,,
three family residences, 10oarding houses and rooming houses, that the charges
paid by these users of the sewer service furnished by the City Municipal Sewer
System shall be 25 percent of the average water bill for the months of November
through April inclusive,, with a minimum charge of fifty cents per month.
B. For all apartment houses, hotels, tourist courts, commercial businesses,
creameries and laundries, the monthly charge to be paid by these users of
the sewer service furnished by the `Iunicipal Sewer System shall be 25 per-
cent of the users' monthly water bill, when such water bill does not exceed
$10.00. When the users monthly water bill is in excess of $10.00, but does
not exceed W.CO, a charge of 25 percent shall be made on the first $10.00
and a charge of 20 percent for all in excess of $10-00 up to $30-00. Where
the users monthly water bill is in excess of $30.00 and does not exceed
$60.00, a charge of 25 percent shall be made on the first $10.00, a charge
of 20 percent on the next $20.00 and a charge of 15 percent for all in ex-
cess of $30.00 up to $60,C0. Where the users monthly water bill is in ex-
cess of $60.00, a charge of 25 percent shall be made for the first $10.CO,
a charge of 20 percent shall be made for all in excess of $10.00 up to
$30-00, a charge of 15 percent shall be made for all in excess of $30-CO
up to $60.CC, and a charge of 10 percent shall be made for all over $60.00.
C. For industrial users such as Railroads, ice companies, bottling works,
refineries, flour mills and similar users, the monthly charge to be paid by
these users shall be as follows: A charge of 20 percent of the users month-
ly water bill shall be made where h water bill does not exceed $10.00. -
Where the users monthly water bill is in excess of $10.00, but does not ex-
ceed $30.00, a charge of 20 percent shall be made on the first $10.00 and.
a charge of 15 percent on any amount in excess of $10-00 up to $30-00.
Where the users monthly water bill is in excess of $30.00 but does not ex-
ceed $60.00, a charge of 20 percent shall be made on the first $10.00., a
charge of 15 percent for all in excess of $10.00 up to $30-00, a charge of
10 percent shall be made for all in excess of $30-00 up to $60.00. Where
the users water bill is in excess of $60.00, a charge of 20 percent shall.
be made for the first $10.00, a charge of 15 percent shall be made for the
nvxt $20.00, a charge of 10 percent shall be made for the next $30.00,, and
a charge of 5 percent shall be made for all in excess of $60.00.
D. For all charitable institutions a monthly charge to be paid by these
users of the sewer service furnished by the hunicipal Sewer System shall be
as follows: 20 percent of the average water bill for the months of November
through April inclusive, with a minimum charge of fifty cents per month.
2. That all bills for service rendered by said Sewer System
shall be paid monthly within ten (10) days after the billing date., and unless
paid within thirty (30) days after the billing date service shall be dis-
continued. In the event of discoitinuanceeof service an additional sum of
$1.00 shall be charged for re-connection to the System. Statements for water
and sewer service shall be rendered under one bill and payment for one service
will not be accepted unless payment is made concurrently for the other service.
750
3. The house connection from the City lateral shall be installed
at the expense of the connector in accordance with the re6ulat'-ons of and sub-
ject to the inspection of the City.
4. The fact that the City of Wics-,ita, Falls is in great need of
f,unds for the improvement, extension, enlargement and repair of its Sanitary
Sewer System., and it is necessary that rates, fees and charges be fixed to pay
revenue bonds of the City issued to provide such improvements, creates an urgency
and an emer-ency for the imm.ediate preservation of public health., peace and
safety and requires that this ordinance shall take effect immediately upon and
after its passage., and it is accordingly so ordained.
- - - - - - - - - -
RESOLUTION NO. 47
A RESOLUTION TENDERING A FEE SIMPLE TITLE TO LAND NOW
OCCUPIED BY SHEPPARD AIR FORCE BASE AND OWNED BY THE
CITY OF WICHITA FALLS TO THE AIR FORCE OF THE UNITED
STATES.
iTHEREAS, the citizenship of the City of Wichita Falls is greatly indebted to
the Air Force of the United States for the establishment and maintenance of
Sheppard Air Force Base, and;
,VHEREA3., the City of Wichita Falls owns the land upon which the Base is loca-
ted., and;
WHEFEAS 2 the citizens of the city desire Sheppard Air Force Base to be desig-
nated a permanent Base-
NOW, THEREFOHE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF ITICHITA
FALLS, TEXAS:
That the Air Force of the United States be tendered a fee simple title by
a general warranty deed to said land containing about 400 acres, being all
the land owned by the city of Wicihita Falls now occupied by Sheppard Air
Force Base.
Passed and approved by the Board of Aldermen of the City of Wichita Falls.,
Texas, on the 12th day of December -1949, upon motion of Aldermaa Thomas
seconded by Alderman Abbott, by the following vote: YEAS: Aldermen Abbott.
Thomas., -Parish., Ray, Brown and Hunter. NAYS' None.
- - - - - - - - - -
Moved by Aldeman Brown that the Tax Statement presented by the
Wichita County Water Improvement District covering certafin tracts of land
in the vicinity of the Secondary Water Reservoir in Denton County School
Lands, situated in Wichita County, covering years 1947, 1948 and 1949,
be deferred for more definite information.
Motion, sec.onded by Alden-,an Thomas and carried.
- - - - - - - - - -
The Minutes of the regular meeting held November 28" 1949, were
read and approved as read; likewise the Minutes of the called meeting held
December 9., 1949., were read and approved as read.
Moved by Alderman Thomas that the meeting be adjourned.
Motion sec ond ed by Alderman Abbott and carried.
The Board of Aldermen then adjournedz7
ZZ,
READ AND APPROVED this the day of
Mayor
ATTI
7 ic ft y C e'-K
7