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Ord 517 5/19/1924 (2) ORDINANCE NO, IS OR-,,-,IWLN0E WTHORIZING TITE ISS'U"NCE OF BONDS OF TFE CTTY OF Fi'�LLSs T IS# IN -HE PJ4OUNT OF TWO HUNDRED THOUSAND DOLLARS 'T Y, 71:U R I N G S ER I fi,J-LY jo B T�j IRI C, T TJTER`!�`�,-�',T 1"T Tll,i RA E Am, Wr, 1�NL, oNE HALF FERC3IiTUH(5 112 ) PER ANNUMs , _.B eSEMI* ON MA 1 0D 140VMBER 1 OF EjxH YEAR2 FOR THE IIRPOSE OF REFUNDING k LIKY' D OF0 s1wID CITY CONSTRUCT ING IMPROVMENTS AND D F'VT11E? PURPOSE OF EXTENSIONS TO THE PRESENT SYSTEM OF WATERWORKS IN AND FOR 311D CITYs '.BICH BONDS WERE ISSOYD UNDIOR DX'-TE OF NOVEMBER 1p 1920* IIATURING THIRTY YEARS -FLiOlEr T1HEIR DATES NITB OPTION OF i T RT,1v7l'!TION r'-T .04Y 114TER" SrP -1LY.YI1`iG PERIOD .FTViR FIVE Y FR K T-711111IR RATE i'Nl) TBE RrNG 11,TER(ES)T A'-;i Th'E RA'PE OF Six P-.RCENITUM 4 6%) FE'R ANNUTT: AND LE7YIN(I k 1,.r'X 6N E,,;CH ONE jT1NDR'D DOLLAPS V.ALb'J',TI0N OF T!�.`lBLE PROPE1,'TY IN SliID CITY SU`?!xICIENT TO LP Tl N iNTERE T ON "a,-.IT.) -RT:,FWiDI.NG }-ONDS .01D TO CR '!.TE A SINKING FUND 31,-,FFICIENT TO REDEEM THIEM AT W.TURITY." WHEREASS HERrj'OFORE.* on the 22nd day of Octoberp 1920* this Board of Aldermen dids by ordinance number 326 authorize the issuance of bonds in the sum of Two Hundred Thousand Dollars$ for the purpose of constructing improvements and extensions to the present system of warervorks in and for said city' and T*­­�:�*, -,!_.AFTTPI said Was were duly almd logal, sold and delivered W are raw valid outatandinrl obligations of the CITY OF AGHTS FA, P and is Vosaible to ro�ind the sail at a lower We of interest by the issuance cnd exchange thervAr of rowding bonds maturing sorially ane bearing istcrent at the rAe of pi.ve and Ono IsIf 'Peroent= per mmown# 1T &PPAIMET BY TV! WIT..._ A MUM �0? TTff,� �!TTY OF ACHITh FALTSs TEN10- EECTIM AP, That bonds of the snia MOP to be denomAnteds CITY OF ACHITA FAIA Trh"' PIFT7";­,,r",,,C, C^11F 1924p STRINS I x be Issued for the purnace of refurding, "bonds heretofore issued for the rtrnoze of constructing improvements and extensions to the present system of waterworks in and for said citys which svid bonds are dalod Nova mber is 1920 rnd achure November 1p IP60s with option of at vny intornat paying perio(l aftor ,re,nre fro= dato and benring interest at the rate of six ,iorcenttrn (6%) per Lnnumv which avid bonds wore anthorizod to is ued by ordinance number 326 J* ndopted %tober 22, 12206 SAD ??MS shall be numlared from one (1) Who Hundred (200 inclusives shall be Rt+,4 15'ay, Is 104p shall be in the denomination of One Mansard Dollars (10000) oath and shall mature serially Athost option of prior payment as Allow- 2 NMI BF,R S AMOUNT J,�ATURITY I - 4 inclusive $4.,000 November 1) 1925 5 - 8 ti 4j000 November Is 1926 9 - 12 It 4p000 November Is 1927 13 - 16 4#000 November 1, 1928 17 - 20 4p000 -Y 1 November Is 1929 21 - 25 5,000 November Is 1930 26 - 30 Ss000 I Q November Is 1931 31 - 35 5)000 November Is ID32 36 - 41 6J000 November 11 1933 42 - 47 62 000 ti 3 Nover ber 1, 1934 48 - 53 6$000 10 f November 1, 1955 54 - 60 7.4000 k Novaqber 11 1936 61 - 67 7,000 1 c' Dlovai-.-,ber 1., 1937 68 - 74 7.,000 November 1, 1938 75 - 82 o 8)000 1 Wovei--,be-r ly 1939 83 - 90 8000 November Is 1940 91 - 99 gy 00"), November Is 1941 loo - 108 gp000 ( I y y Noveriaber 1, 1942 log - 118 10..000 November 1, 1943 119 - 128 los000 1 q TTovo,.,-.ber Is 1944 129 - 139 11,000 q y j November 1, 1945 140 - 150 11"000 Nove-i..ber ls 1946 151 - 162 u 12p0o0 November 1, 1947 163 - 174 121000 Novear.;.bet Is 1948 175 - 187 13,000 Novo-a-ber Is 1949 188 - 200 0 o lyoveL,�bel-- Is 1950 3 SECTION TETPEE. SAID BONDS shall bear interest at the rate of Five and One Half Percentum (5 1/2%) per annmns payable semi-annually' on the first days of bray and November of each year. SECTION FOUR. THE PRINCIPAL I�ND IFTF'REIST of said bonds shall be payable on presentation and surrender of the bonds or proper coupons at the Hanover t$ational Banks New York City, SECTION FIVE, SAID BONDS shall be signed by the Ilayory oonntersigned by the City Clerk and registered by the City Treasurer and the corporate seal of said city shall be impressed on each of them and the fac-simile signatures of sAid. Mayor and City Clerk shall be lithographed on the coupons attached to each of ssid bonds. SECTION SIX. SAID BONDS ATTD COUPONS shall be in substantially the following form:- 4 UYTIT-T,;D S"La,'ThS & AMLIL)RI CA STATE OF TEXAS CITY CW WICHITA BOND. C* NO. ;1'000.00. The City of 1,;-ichita Fans, a municipal corporation duly incorporated under and by virtue of the laws of the State of Texas, fbr value received, is indebted to and hereby promises to pay to bearer on the first day of November, 19 , the sum of ONE' THOUSAND DCLUI RS in lawi'ul money of the United States ofilmerica, with interest thereon fro.'j the date hereof, at the rate of Five and One Half Percentum ( 5 1/2% ) per annum, payable semi-annually on the first days of Aay and November of each year. BOV RINCIP-tI1 AND INTLREST of this bond are hereby made pay-able at the Hano-,,rar National Bank in Newyork City, and for the prompt payment of the principal and interest of this bondas the same shall mature, the Hill faith, credit and resources o-,' the city of lilichita Falls are hereby irrevocably pledged. ZHIS BLIND is one of a series of bonds of like tenor and effect, except as to maturity, and is issued for the purpose of refundin,- a like amount of valid outstandin., bonds of the city of 'Ylichita Falls, Texas, wnic," 1i were issued ad for the purpose of constructinF., improvements and extensions to -,.--be present system of ,w-ai-,erviorks in and for said city, in accordance with ordinance number 326 of the City of ',3fichita Falls, adopted October 22, 1920 and by virtue of an election duly called and held in said City on the 12th day of October, 1920. '111M'� Di")ND is issued tinder and pursuant to the Constitution and Laws o ' the State of Texas, including a.Aong others Cripter17 of Title 22 of the Revised Civil St atutes and the City Charter of the City of Wichita Falls; and pursuant to an ordinance duly and b gally adopted by the Board of &ldermen of said city. IT IS BURIM2 COVEIMANTED AND AGREED VIM THE HOLDER OF EIS BOND that if this bond should be declared invalid for any reason the holder hereof shall be subrogated to =t.11 the r'i;hts of the holder of the original bond -v,-'-iich this bond -vms issuud to refund. IT IS H11.1EBY REPIRSESENTEED AND DEC'UJR'r"D ',hat provision has been made as required by the Constitution and Laws of the State, of Texas for the levy and collection of an annual tax sufficient to pay the interest on said bonds as the same shall become due and to pay the principal thereof at maturity; that the bond Which this bond was issued to refund was duly wthorized by a majority of the qualified property tax paying voters of said city and is a valid subsisting and kD .)utstanding obliG Lion of said city. 6 IT IS FURTHER PEPRESENITED AND DECL:iRED that all acts, conditions and things required to be done precedent to and in the issuance of this bond have been properly done, have happened and have been performed i�i regular and due form as required by the Oonstitution and Laws of the state of Texas and by the City Charter of the City of V,.'ichita Falls and that the total indebtedness of said city including this bond does not exceed any constitutional or statutory limitation. I111 V,1ITN6,c3S VEB1'%EOF the City of 1,"Vichita Fallso by itsBoard of Aldermen, has caused this bond to be signed by its Mayor, countersigned by its City Clerk and registered by its City Treasurer, with its corporate seal impressed hereon and the annexed interest coupons to be executod by the lithogrpahad fac-simile signatures of said Mayor and City Clerk this first day of May, 1924. Mayor CO JNT1.21 S1 GNED: City of Wichita Falls. City Clerk. REGISTERED: City Treasurer. The interest coupons attached to each of said bonds shall be in substantially the follwing form:- 7 NO. $27.50 On the first day of May or November 19 the City o' V'iehita Falls , Texas, promises to pay to bearer at the Hanover National B,,nk, New York City., TWI-ENTY SEVEN DOLLj-&S .,'M PIFTY CIENTS being six months interest due that day on the City of 'Cichita Falls, Texas, Refunding Bond of 1924, Series C,, dated May 1, 1924 and numbered COUNT i;RS IGNED: Mayor City Clerk Sp,CT1,-'DT 9WEN. On the back of earl: of said bonds shall be printed the following certificate:- OFFICE OF ME, CO"ffITROLLIR Ov-, PUBLIC ACC9TJN'ns OF THE SVLTS 0? TU S. I hereby certify that thore is on file of record in my office a certificate of the attorney General that this bond has been examined by him as required by Article 619 of the Revised Civil Statutes and that it has been issued in conformity with the Constitution and Laws of the State of Texas and that it is a valid and binding obligatior of the City of Wichita Falls and said bond has this da- jr been registered by me. 8 7,d`,TT!:S5 NLY Sf.,ND "141D S%':L at j"ustins Texass this day of 1924* C(511�1`troyier Of�Fublic counts of the State -' of Texas* S',CT! EI411T* TPIH7_ 01J;,,,ITM3D PY TEF, BW�1 u OF IT 73 'Ll)lt;;RM I OF TH" 'Y OF P11JA, that to pay the interest on said bonds as the same shall riature and to cr-_ate a sinkinft fund sufficient to discharge the -rincipal thereof at riaturitys there shell be annually levied and there is hereby 'levied for the u ear 1924 a tax of .05*12 0' on the One Hundred Dollar valuation of taxable property in said. city; that for the -,,,ear 1925 and each succeeding year while any of .,,aid buds are outstanding and. urpaids, there s1_,1a1.-: be computed and ascertai:,Ied whz-:,t rate of taxp based on Lhe last approved t,,,,x rolls of said cityp Trill be required to fully makes raise and produce in each of said Years a sum of money necessary to pay all interest, I - -id to pro-Tide a accruin, and cominF due in said year w sin kin,-, fund slfficiont to riect th,e sj6 !_)onds !-..s they ruturep and a tax at, such ante as shal-I be found -ecessary ( said tax i.n ajy how0very not to 'Lie less than the tax of t5#12 as aforesAd) shall. be lrviedp ry,,d collected in each of said years and. at the tine other city taxes are levieds assessed and collected amd the proceeds from said tax sh-M 1he applied to the purpose named. SECTIOU NINE, IT IS IFE-72BY STIPULAT;'M -mith the holders of the original bonds hereintefore authorized and each of them, that if said refunding bonds or any of them should be held invalid for any reason the holder or holders thereof shall be subrogated to all the rights of the holders of the original bonds refunded by this ismi.e of bands. SECTION T,-,U-" P ',CT th,,-.t there is an urgent pUblic need for the refunding of the outstanding bonds of said city end a reduction, in the rate or taros ir cavi�, oitr for the nresemmtion of the health and i-,-elfare of the comunity create', an err.er-ency and a -,».:bllc necessity tha+. the rulo reqi1ri.rg ordinances to be read on three concratc dates be suspended are saic,, rule is hereby suspended tnd this ordinanoe shall 'rake effect aria be in force _from and. after its p. assj,,--e and it is ro or`air�ed. '71 11 1 10