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