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Ord 518 5/19/1924 ORDINANCE NO# A.6TFORIZITIG TIT, ISSUANCE OF 13(XIDS OF TIPT CITY OV IWICHIT,4 FALISt TP,,YA:St 1111 THE, JQMOUINT OF THREE HUNDRED FORTY THOUSAND DOLLARS SERMLYs BFiRING l l- ITTFV'!T AT THE ERJTl UX#OFpIvE kwjj )HF, HiLF !Ej (,DTUYi /2%) FR ANN pAy,p,BLF Sfj LLLLB' W,y I jAN 1, jzOVE ,rk 1 OF OU RACH Y!­ill FOR TITD< 1MPOSE OP RE7UNDING A LIKE OF BOWDs OF SAID CITY ISSUED FOR THE PURPOSE OF CONSTRUCTING PER111IMT STREET IMPROVEMENTS IN AND FOR SAID CITY$ IjICH BiNI)Qv jSsUTjlD uND-�'Jj, DKI-E OF NOVEMBER It 1920v W.'URDTOP TIHIRTY YVIRS FROM TFY,'IR DxTEv TITH OPTION OF R?,Dryj,TION t.!' !WY INTEXEST Px1tMG PWRIOD AFTER FIVE YU-_RS FROM THEIR r)ATIE AID BEARING lKTEFr'!lT AT TFI' RATE OF SIX PFROMiTUM (6%) PER ANNUUt AID IYVYIT'%'(; 11 T14 ON FiXE (21r, HUNDR31) l-"OLIARS VA LW TIOW OF Til.Xi BLE 1:R0PR,RTY IN ," Ir; CITY 0,UF!-lClLl4T TO F11Y TKE TINTEIZEST ON AST Rl,,F0'f4'DlVG WINDS AD TO C ,.":14,TE A SINKING; FUND SUFFICIENT TO REDE& TIC AT ;'.lATU_aITY*"' v,�JrClnsx WRNTOFORV* ort the day of Octoberp 19,.'Os this Board of 7 Idermen didp by orditiance number 325 authorize the issuance of 1-,ands in the sum of THREE HUlTDRED FORTY THOUSAND Dollars* for t'he -..lrpo:3e of constructing permanent street improve- ments in and 1"or said city* and 1 WREMEASp T11EM:,AFTE*Py said bonds were duly and legally sold and delivered and are now valid outstanding obligations of the CITY OF ',;ICHITA FALLS.9 and T',rHFREA.S$ it is possible to refund- the said, bonds at a lower rste of interest by the issuance and exchange therefor of refuhding bonds maturing serially and bearing interest at the rate of Five and One Half Percentun (5 per annum. NWit THEREFORE, BF IT ORDAINED BY Tn- BOARD OF kLDERMEY OF THE CITY OF ',,rICHITA FALLS, TEXAS:- SECTION ONE. That bonds of the said cityp to be denoniinated$ CITY OF -,,.TCHITA FALL Ss TEXAS REFUNDING BONDS OF 1924y SERIES B P be issued for the purnose of refunding bonds heretofore issued for the purpose of constructing permanent street improvemontsy in and for said city which said bonds are dated Nova-aber ly 1920 and mature November ly 1950, wilth option of redemption at, any interest paying period after five yenre from, date and bearing interest at the rate of six percentim (6%) per annum, which said bonds were authorized to be issued by ordinance number 325 1 ado-Pted. October 22$ 1920. SECTION T'i-'-'O. SAID BONDS shall be numbered from one (1) to Three Hundred Forty 340 inclusivep shall be dated flay ly 1";,24., shall be in the denomination of One Thousand Dollars ($1,000) each and shall mature serially without option of prior payment as follows:- 2 IMITBERS ITATURITY 1 6 inclusive $6000 November 1.9 1925✓ 7 13 7.,000 November 1, 1926✓ 14 20 7.,000 November ly 1927,/ 21 27 7$000 November 1., 19261// 28 35 8#000 November 1., 1929 / 36 - 43 8"000 November ls 1930✓ 44 - 52 91000 November 1, 1931V/ 53 - 61 90000 November ls 19,,2 V1 62 - 70 9.,000 November 1, 19331"/ 71 - 80 10"000 November 1, 1931"V 81 - 91 11Y000 November 1, 1935V/ 92 - 102 112000 November 1, 1.936\/ 103 -114 12,000 November 1, 1937/ 115 - 126 12,000 N o v e y r,b e r 1, 1938 V/ 127 - 139 13,000 Nove-mber 1, 1939/ 140 - 153 14#000 W' Tovernber 1, 1940'-- 154 - 168 15,000 November 1, 19411/ leg - 183 15Y000 ?•yovernber 1, 1942�1 1p-4 - 199 16100c) 1,,ToveE,.ber 1, 1943-1/ 200 - 216 17"000 November ly 1944-V/ November 1, 194-W 217 - 234: 18,,000 235 - 253 11 19,000 November 1$ 1946✓ 254 - 273 20,000 November 1, 1947VI/ 274 - 294 210000 November 1, 1948V 295 - 316 22,000 Toveraber 1, 1949 V/ 317 - .340 24s000 November 1, 1950VI/ „EC ION THRIVE9 t.eretst at the rate of shall beftr 1,q a Five and One Half Percent= (6 I/L)') IN-r annuz4 pyable sevd.,t=ue,ljy# on the Virst, days of Mmy and Novezber of each ye,-,ro &f C”10H -FJVR* TFY. PRINCIPAL 011) rTTrT)FST of sn.id bonds ahvkll be payable on presentation and surrender of the bonds or proper c.,olipons at the Tlaxtover M-Ational Nimk# rjew York Gity# S,Ajp shall be Sig,ned I r the 11a&yor# counteral M. ed by the cit-7 clerk and reCistred �.7 the City 're aware and the oorporato soal of said city sball be impr�ssod an etuch of them and '.-Iie fc.c-si;Ale siM&tums of said I'Mayor and City Clark shall be lithograph od on the c�-,,Ipons attaa.ed to each of said, bonds* SECTI(A SLX# SIM) R-)ITT)S CMD COCAMS abull be in substantially the follovring fom:. UNITED STITES OF AWRIC-A MATE Or TRYJX CITIV OF rICMTA �'tJ Vi D I N 0 SERIFS B. ITO, 1$"OW600. The City of V-icbita Falls# a. TluniciPul corporail1on duly incorporated under and by virtue of the laws of th.e State of Texas* far value mceived# is indebted to and bereb7 promises to p gay to bezirer on the "first day or Novewberp 15 the sum of 0710, lttt in 1,.-,-,,rful rooney of the United ,,;totes of 'moricas ViV:h interest thereon from the date hereofp at the rate or ,,five and One "alf percent im ( U) per annum* parible 3emi bhe -annually on first days of rAy and November or erich yeur# L,',,,zTH i,4krwjPI�L ZTETFST Of this to'nd are hereby maxde payable at the 1knover National Bank in New York 1-itys and for the prompt puyzent of the principal and interest of this bond as the same shp.11 rxt-Wrejo the AM ruitb* ore6it and rewurcos of the city of Falls are herei,y irrevocably pledredo TEN 10ND is ono of a acrica of bonds of like tenor and effect# except as to maturity) and to issued for the purpose of refund-* r in ., a like -mount of vulid oirt- standing bonds of the city of ',14chita Fe�jls,# Texas# which wore issued for the purpone of constructing permanent street improvements n and for said city# in aocordeme with ordinanoo mt—mber 325 0 of the city of wichi-l'-'a Fallso a4oPted Ootober IM and by virtue of tin election duly and hold in *&id city on the 12th O;t�y of 00tobers 1020* TMs Ln!iLl is issued under and -purwA=t to, the conatitution and Lwaz )f the S'mto or TOXXA,* including mom, at-hers Chaptorl:7 of Title 22 of the RfMiffOd Civil Statutes and the W-y Charter of the City of 710hita, Falls; and pursuant to an ordinance duly Ad le, ally adOptsd IT tiro Board of ,1d4orrava or said eity,* IT IS AMTHIRR COVERINTE'D JAN!", A';G10"Et TaTH TMR EojLjnrR OF TjjjS BOND that if this 'bond slued be doolared Invalid for any reason the holder hereof shrill be subrorated to all the rights of the holder of the origliml bone which thia bond var, iscuod too rcf=4. IT 23 REPRBY MR!"SUMD P.Nr- DECURED that provision has boas made as required by tbe. Constitution and Laws of they state of Texas for t)-.o levy and collection of an t.f�-. sufficimt to pay tl�,e interest on said binds as "he sa= shall b000zw due rmd to pay the princt. I thereof at mtturity; thy the bond which this bond .,mv isatied to refund orac dul-y authorized by a -=,,jority of the qu4lifiod property ts.x paying voters of socAd city r-nd is a wl id SUj)SjStjnr�, and outalanding oblirution of said city* 5 041) DEXULARTM that )a conditiols and thilit S requirod tr, I to r -a ,aid Ln the Issuance of t-his bond 1qve been Oroperly aones have luappened and luive been performed In m-,gulnr and due form ar, roquired by tho Constitutiou end Lvv;s of the StrAte Of the city Marter of the City of iichltft FQ113 and that +J-je total Indebtedness of sAd city Includinr, this bond does not exceed awy, conat.itutional or s,;atutory limitationo IN IVIIKI1111130V the city of -,,�,Aehita Falls* by its Board or -,jderwn* ht,.a (mused t1iis bond to be sirAed 1:7 its ti'ayors cot ntorzi,-aed by its :Sty Clork nand re,,,Astered I)y its city Treasurer* rith Its eorporate seal impressed heroon and the annexed interast ow.-pons to be executed by the litho rra phod rao—simile rAj-,naturez of said Mayor ,md City Clerk this first dvy of 1TWOr* 1930 wayor city of rullsa y7 the Interest .co).a,pc)ns �jttaohod to each or said bonds shrLlj. lie In substantially the follOWinsr fQM#-- 7 On the Arst day of may or the City of I'Vichita Pallas Texas# promises to pay to Itearer at tie Vnmover flational 1 ,* Now York Cityp TVEXTY SEWN VOLLARM M FIFTY GMTS boing si , months interest due that day on the City oP !Achitt Falls# Texaa* ,ref u�oding flond of 191L.4.* Series Bs dated ray 1$ 1924 and numbomd On the b!Lck of each of stAd t*nds shall bo printed -lie following eertirief4te:- OFFICE OF TH'F, CO]MISIROLLER OF MBLIC 1,CCOW-11S OF TIM S3V1,TE OF TFU- AS,# I hereby certifr that there is on Me of record In rV offios u certificate of the I-Atormoy 11"Ienoral that this ,xond has been evemined, by him mo required by rticle 619 or the lle-dsod Civil Statutes zand 'Uhvt it has been I's-coed in conformity wif h the Constitution rind Laws or the State of '-.,,oxus and that 11*14- is a valid md, bindinp-, obligation of the City of 1,tchltu Falls and said, bond ht.,,.s thia Jay ]*on re(Jateret! 1W me, 'VY1TNT--'SSV3 MY IM tAD STAL at Austinp Texaos this day a 1924* ate ccount a Of the "A o:c Texr��80 SECT7,"N 157GHT, -16V IT FURTIMT 0RDJ'JNFD BY THIL B010111r, OF ALMWX OF TEF CITY OF WICHIV Fi',,Li3# t1wt to pay the Interest on said bonds t�s the w,,.Me ah,,.11 rnl,ure and to, cre�t* a sinklnr rlw.d, suofic .ent to discharge tbeprincipal theroof at raturityp -there shall be amnually levied and there is hereby levied for the red " yl,ir,r 1924P a Ux Of 08.7 O On n the e Rund 'Dollar valu-tion Of taxable property in wtid c ty; that for the veer 1926 one, each suet.oeding- Irear YdAle any of said bonds urea outst&ndi and urpA.idp there shall be computod and aaeortuizied what rate of t-(%x* based on t1w. la.:t approved tax rolls of said city* will he required to ful,jy mxhey raise area produce in each or vald yoarz a sun of money nocessary to pay nll Interest accruing and eorninr, due in wAd Nrear and to pro%Ade a sinking.,, fund mxfj'icient to moot thf; said bonds t*r;ey m .turn* and a tax at surb ra.te as bo found none.;nary ( sKid ttix in any �,re&rs howovor* not to be le,-,S than the tax Of,08*7 � as aforesaid) shall be laviods assessed and oollooted in each of scAd years and at the time othor city taxes are laviod* as;essed and colleeted and the proceeds from said tax shall be applied to the purpose narned# TT IS TMprDy sTjj*rj,�Ttr, with the holders of' tho on ,inal bon,-'s liereinbernre stitborized Knd etch of themo thet if jvaid reft.inding bonds or a-y -f t,!„em shotild be haVl inw-lid for amj reszon tbo 11,older or holders thereat" zbtll be oubroCated to t ll the riZAt3 o,f the holders of thc original bonds refNindex by this issue of bonds* gr'.CTV�W T'Mo Tlr;,'. 4 j%CT that there is an urgent public need, for the ref"unding, or the bonds of onid city trot a redi,totion in the rate of tax*# in so id city for the presemrtion of the iv. al+,h and w6lbre of the cormunity orofrttes an emergency and a public necossity tbf,,t the r,,)Ie requiring ordinances to be r,--tid on three sepr1rate drates be suspenW end or, W m1c, is suspended Und this ordinance shrll tt,�koqtrect and be in force fr= tmd efter its pasango vnd it is zo orelulnedo "P rTD ; PD 0VED this 1.9th day :"ITTEST C.r CCUI,,,-,-, OF ;JICJ�TT 1-Y I E. Jicbroom, Uity uler'x-. of the Uity of ',7,Ti(;hita hereby certify that the above is a true and correctcopy of Ordinance Ijo. 518 , passed and approved by the the 19th day of 11. ay 1924. 'a'ITITTESS !.IY FiA.T.ID OD SEAL of the City this 10th day of iiovember 1925'. 10