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Ord 3668 5/20/1980 , CERTIFICATE FOR ORDINANCE AUTHORIZING THE ISSUANCE OF WATER AND SEWER REVENUE BONDS THE STATE OF TEXAS • COUNTY OF WICHITA CITY OF WICHITA FALLS We, the undersigned officers of said City, hereby certi- fy as follows : 1. The Board of Aldermen of said City convened in REGULAR MEETING ON THE 20TH DAY OF MAY, 1980 , at the City Hall, and the roll was called of the duly consti- tuted officers and members of said Board of Aldermen, to-wit: Wilma J. Thomas, City Clerk Kenneth Hill, Mayor Marvin Traywick John W. Hampton, Jr. Carol G. Russell Curtis W. Smith James B. Thomas Horace O. Boston and all of said persons were present, except the following absentees : thus constituting a quorum. Whereupon, among other business , the following was transacted at said Meeting : a written ORDINANCE AUTHORIZING THE ISSUANCE OF WATER AND SEWER REVENUE BONDS was duly introduced for the consideration of said Board of Aldermen and read in full. It was then duly moved and seconded that said Ordinance be passed; and after due discussion, said motion, carrying with it the passage of said Ordinance prevail- ed and carried by the following vote: YEAS : All members of said Board of Aldermen shown present above voted "Yea" . NAYS : None . 2 . That a true, full and correct copy of the aforesaid Or- dinance passed at the Meeting described in the above and forego- ing paragraph is attached to and follows this Certificate; that said Ordinance has been duly recorded in said Board of Alder- men' s minutes of said Meeting; that the above and foregoing para- graph is a true, full and correct excerpt from said Board of Aldermen' s minutes of said Meeting pertaining to the passage of said Ordinance; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of said Board of Aldermen as indicated therein; that each of the officers and members of said Board of Aldermen was duly and sufficiently notified officially and personally in advance , of the time, place, and purpose of the aforesaid Meeting, and that said Ordinance would be introduced and considered for passage at said Meeting, and each of said officers and members consented, in advance , to the holding of said Meeting for such purpose; and that said Meeting was open to the public , and public notice of the time , place ,and purpose of said meeting was given, all as required by Vernon 's Ann. Civ. St . Article 6252-17 . 3 . That the Mayor of said City has approved, and hereby approves , the aforesaid Ordinance; that the Mayor and the City Clerk of said City have duly signed said Ordinance; and that the Mayor and the City Clerk of said City hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of said Ordinance for all purposes . SIGNED AND SEALED the 20th day of May, 1980 . City Clerk 't Mayor (SEAL) ORDINANCE NO. ___ ORDINANCE AUTHORIZING THE ISSUANCE OF WATER AND SEWER REVENUE BONDS THE STATE OF TEXAS COUNTY OF WICHITA • CITY OF WICHITA FALLS WHEREAS, the Board of Aldermen of the City of Wichita Falls, Texas, deems it necessary and advisable that the bonds herein- after authorized should be issued, sold, and delivered as soon as practicable; and WHEREAS, the bonds hereinafter authorized are to be issued, sold, and delivered pursuant to Articles 1111141112 , 1113 , and 1114 , Vernon' s Annotated Texas Civil Statutes , and other appli- cable laws . THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS , TEXAS : Section 1. That the said City ' s bonds are hereby author- ized to be issued in the aggregate principal amount of $1, 000 , 000 , FOR THE PURPOSE OF PROVIDING MONEY FOR IMPROVEMENTS AND EXTEN- SIONS OF THE COMBINED WATERWORKS AND SEWER SYSTEM OF THE CITY OF WICHITA FALLS . Section 2 . That said bonds shall be designated as the: "CITY OF WICHITA FALLS WATER AND SEWER REVENUE BONDS , SERIES 1980" . Section 3 . That said bonds shall be dated JUNE 1, 1980, shall be in the denomination of $5 ,000 each, shall be numbered consecutively from one upward, and shall mature serially on the maturity date, in each of the years , and in the amounts, respec- tively, as set forth in the following schedule : MATURITY DATE : FEBRUARY 1 YEARS AMOUNTS 1982 $50 , 000 1983 50 , 000 1984 50 , 000 1985 50 , 000 1986 50 , 000 1987 50 , 000 1988 50, 000 1989 50 , 000 1990 50, 000 1991 50 , 000 1992 50 , 000 1993 50 , 000 1994 50 , 000 1995 50 , 000 1996 50 , 000 1997 50 , 000 1998 50 , 000 1999 50 , 000 2000 50 , 000 2001 50 , 000 Section 4 . That the bonds scheduled to mature during the years , respectively, set forth below shall bear interest at the following rates per annum: -1- maturities 1982 , Gi % maturities 1992 , , 7;1 % maturities 1983 , % maturities 1993 , „D % maturities 1984 , % maturities 1994 , „ maturities 1985, ;%1 % maturities 1995, ,.e % maturities 1986 , ,45 % maturities 1996 , % maturities 1987 , ,;GG' % maturities 1997 „_, % maturities 1988 , % maturities 1998 , , % maturities 1989 , 1,4, % maturities 1999 , 7, , % maturities 1990 , , maturities 2000, #9:% maturities 1991, ,G % maturities 2001, % Said interest shall be evidenced by interest coupons which shall appertain to said bonds, and which shall be payable in the man- ner provided and on the dates stated in the FORM OF BOND set forth in this Ordinance. Section 5 . That said bonds and interest coupons shall be issued, shall be payable, may be redeemed prior to their sched- uled maturities , shall have the characteristics, and shall be signed and executed (and said bonds shall be sealed) , all as provided, and in the manner indicated, in the FORM OF BOND set forth in this Ordinance. Section 6 . That the form of said bonds , including the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be printed and endorsed on each of said bonds, and the form of the aforesaid interest cou- pons which shall appertain and be attached initially to each of said bonds, shall be, respectively, substantially as follows : FORM OF BOND: NO. $5 , 000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF WICHITA CITY OF WICHITA FALLS WATER AND SEWER REVENUE BOND SERIES 1980 ON FEBRUARY 1, , the CITY OF WICHITA FALLS , in Wichita County, Texas , hereby promises to pay to bearer hereof the principal amount of FIVE THOUSAND DOLLARS and to pay interest thereon, from date hereof , at the rate of % per annum, evidenced by interest coupons payable FEBRUARY 1, 1981, and semiannually thereafter while this bond is outstand- ing. THE PRINCIPAL of this bond and the interest coupons apper- taining hereto shall be payable to bearer , in lawful money of the United States of America, without exchange or collection charges to the bearer , upon presentation and surrender of this bond or proper interest coupon, at the following , which shall constitute and be defined as the "Paying Agent" for this Series of Bonds: THE CHASE MANHATTAN BANK, N.A. , NEW YORK, NEW YORK, OR, AT THE OPTION OF THE BEARER, AT CITY NATIONAL BANK IN WICHITA FALLS , WICHITA FALLS , TEXAS . THIS BOND is one of a Series dated as of JUNE 1, 1980 , authorized, issued, and delivered in the principal amount of $1, 000, 000 , FOR THE PURPOSE OF PROVIDING MONEY FOR IMPROVEMENTS AND EXTENSIONS OF THE COMBINED WATERWORKS AND SEWER SYSTEM OF THE CITY OF WICHITA FALLS . -2- ON FEBRUARY 1, 1990 , or on any interest payment date thereafter , any outstanding bonds of this Series may be redeemed prior to their scheduled maturi- ties , at the option of said City , in whole , or in part , for the principal amount thereof and accrued interest thereon to the date fixed for redemption. At least thirty days prior to the date fixed for any such redemption said City shall cause a written notice of such redemption to be published at least once in a fi- nancial publication published in the City of New York , New York . By the date fixed for any such redemption due provision shall be made with the "Paying Agent" for the payment of the principal amount of the bonds which are to be so redeemed and accrued in- terest thereon to the date fixed for redemption. If such writ- ten notice of redemption is published and if due provision for such payment is made , all as provided above , the bonds which are to be so redeemed thereby automatically shall be redeemed prior to their scheduled maturities , and they shall not bear interest after the date fixed for redemption , and they shall not be re- garded as being outstanding except for the right of the bearer to receive the redemption price from the "Paying Agent" out of the funds provided for such payment. IT IS HEREBY certified and covenanted that this bond has been duly and validly authorized , issued, and delivered; that all acts , conditions , and things required or proper to be performed , exist , and be done precedent to or in the authorization , issuance , and delivery of this bond have been performed , existed, and been done in accordance with law; that this bond is a special obligation; and that the principal of and interest on this bond, together with other revenue bonds of said City, are payable from, and secured by a first lien on and pledge of , the Net Revenues of said City ' s Waterworks and Sewer System. SAID CITY has reserved the right , subject to the restrictions stated, and adopted by reference , in the Ordinance authorizing this Series of bonds , to issue additional parity revenue bonds which also may be made payable from, and secured by a first lien on and pledge of , the aforesaid Net Revenues . THE HOLDER HEREOF shall never have the right to demand pay- ment of this obligation out of any funds raised or to be raised by taxation. IN WITNESS WHEREOF , this bond and the interest coupons apper- taining hereto have been signed with the facsimile signature of the Mayor of said City and countersigned with the facsimile signa- ture of the City Clerk of said City , and the official seal of said City has been duly impressed, or placed in facsimile , on this bond. xxxxxxxx xxxxxxxx City Clerk Mayor FORM OF REGISTRATION CERTIFICATE : COMPTROLLER' S REGISTRATION CERTIFICATE : REGISTER NO . I hereby certify that this bond has been examined , certi- fied as to validity , and approved by the Attorney General of the State of Texas , and that this bond has been registered by the Comptroller of Public Accounts of the State of Texas . Witness my signature and seal this xxxxxxxx Comptroller of Public Accounts of the State of Texas . -3- FORM OF INTEREST COUPON : NO. $ ON 1, THE CITY OF WICHITA FALLS , in the County of Wichita, State of Texas , promises to pay to bearer the amount shown on this in- terest coupon, in lawful money of the United States of America, without exchange or collection charges to the bearer, unless due provision has been made for the redemption prior to scheduled maturity of the bond to which this interest coupon appertains , upon presentation and surrender of this interest coupon, at THE CHASE MANHATTAN BANK, N.A. , NEW YORK, NEW YORK, OR, AT THE OPTION OF THE BEARER, AT CITY NATIONAL BANK IN WICHITA FALLS , WICHITA FALLS, TEXAS , said amount being interest coming due that day on the bond, bearing the number hereinafter designated, of that issue of CITY OF WICHITA FALLS WATER AND SEWER REVENUE BONDS , SERIES 1980 , DATED JUNE 1, 1980. 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. Bond No. xxxxxxxx xxxxxxx City Clerk Mayor Section 7 . (a) That the term "Outstanding Bonds , " as herein- after used in this Ordinance , shall mean all of said City ' s pres- ently outstanding bonds which are payable from, and secured by a first lien on and pledge of , the Net Revenues of said City ' s Waterworks and Sewer System. (b) That the bonds authorized hereby are parity "Additional Bonds" as defined in the ordinance passed on August 1, 1963 , authorizing the issuance , sale , and delivery of said City ' s Water and Sewer Revenue Bonds, Series 1963 (the "Series 1963 Bond Ordinance" ) . (c) That Sections 8 through 23 of the Series 1963 Bond Ordi- nance are hereby adopted by reference and shall be applicable to the bonds authorized to be issued by this Ordinance for all purposes , except to the extent hereinafter specifically modi- fied and supplemented. The bonds authorized to be issued by this Ordinance and the Outstanding Bonds are and shall be on a parity and of equal dignity in all respects , and are and shall be payable from, and secured by a first lien on and pledge of, the Net Revenues of said City ' s Waterworks and Sewer System. Section 8 . That , in addition to all other amounts requir- ed by the ordinances , respectively , authorizing the Outstanding Bonds , there shall be deposited into the Interest and Sinking Fund (created for the benefit of said Outstanding Bonds and all Additional Bonds) the following : (a) such amounts , in approximately equal monthly install- ments , deposited on or before the 15th day of each month hereafter , as will be sufficient to pay the in- terest scheduled to come due on the bonds authorized by this Ordinance on the next interest payment date ; and (b) such amounts , in approximately equal montly install- ments , deposited on or before the 15th day of each month hereafter, commencing on or before February 15 , 1981 , as will be sufficient to pay the next maturing principal of the bonds authorized by this Ordinance. -4- Section 9 . That there is presently on hand in the Reserve Fund, created for the benefit of said Outstanding Bonds and all Additional Bonds , an aggregate amount of at least $845 , 100 . Said aggregate amount shall be maintained therein, for the bene- fit of the Outstanding Bonds, the Series 1980 Bonds , and all Additional Bonds, in accordance with the procedures set forth in the ordinances authorizing the Outstanding Bonds . All income and earnings from the investment of amounts in the Reserve Fund shall be deposited upon receipt to the credit of the "City of Wichita Falls Water and Sewer Revenue Fund" _created, _ established, and maintained pursuant to the Series 1963 Bond Ordinance. Section 10 . That the bonds authorized by this Ordinance are and shall be special obligations of said City , and the holder or holders thereof shall never have the right to demand payment of said obligations out of any funds raised or to be raised by taxation. Section 11. That the Mayor of said City is hereby authorized to have control of said bonds and all necessary records and pro- ceedings pertaining to said bonds pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas , and their registration by the Comptroller of Public Accounts of the State of Texas . Upon registration of said bonds , said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign the Comptroller 's Registration Certificate printed and endorsed on each of said bonds , and the seal of said Comptroller shall be impressed, or placed in facsimile , on each of said Bonds . Section 12 . That the City covenants to and with the pur- chaser of the bonds that it will make no use of the proceeds of the bonds at any time throughout the term of this issue of bonds which, if such use had been reasonably expected on the date of delivery of the bonds to and payment for the bonds by the purchasers , would have caused the bonds to be arbitrage bonds within the meaning of Section 103 (c) of the Internal Revenue Code of 1954 , as amended , or any regulations or rulings pertaining thereto; and by this covenant the City is obligated to comply with the requirements of the aforesaid Section 103 (c) and all applicable and pertinent Department of the Treasury regulations relating to arbitrage bonds . The City further covenants that the proceeds of the bonds will not otherwise be used directly or indirectly so as to cause all or any part of the bonds to be or become arbitrage bonds within the mean- ing of the aforesaid Section 103 ( c) , or any regulations or rulings pertaining thereto . Section 13 . That it is hereby officially found and deter- mined: that a case of emergency or urgent public necessity exists which requires the holding of the meeting at which this Ordinance is passed, such emergency or urgent public necessity being that the proceeds from the sale of said bonds are required as soon as possible and without delay for necessary and urgently needed public improvements ; and that said meeting was open to the public, and public notice of the time , place , and purpose of said meeting was given, all as required by Vernon 's Ann. Civ. St . Article 6252-17 . Section 14 . That the Board of Aldermen officially finds , determines , and declares that said bonds have been duly adver- tised for sale; that sealed bids have been received at a public sale of said bonds ; that all of said bonds are hereby sold and shall be livered,to a syndicae managed or headed by , being the best bidder at sai-public sale, for the principal amount of said bonds , and accrued interest thereon to the date of de- livery, plus a premium of $ —G — . The Official Notice -5- of Sale and Official Statement dated May 2 , 1980 , prepared and distributed in connection with the sale of the bonds have been and are hereby approved by the Board of Alderman. It is further officially found, determined, and declared that the statements and representations contained in said Official Notice of Sale and Official Statement are true and correct in all material respects , to the best knowledge and belief of the Board of Aldermen. -6-