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CERTIFICL\11~ FOR
ORDINANCE APPROVING BOND RESOLUTION
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF NORTH RICHLAND HILLS
We, the undersigned officers of said City, hereby certify
as follows:
1. The City Council of said City convened in
REGULAR MEETING ON THE 27TH DAY OF MAY, 1975,
at the City Hall, and the roll was called of the duly consti-
tuted officers and members of said City Council, to-wit:
Dick Faram, Mayor
(Vacancy)
Norman Ellis
George Conant, Jr.
John Lamond
Winnie Barclay, City Secretary
J. F. Cato
Tom Newman
Jo Ann Goodnight
and all of said persons were present, except the following
absentees: ~r>N ¡;; . ,
thus constituting a quorum. Whereupon, among other business,
the following was transacted at said Meeting: a written
ORDINANCE APPROVING TRINITY RIVER AUTHORITY OF TEXAS
RESOLUTION AUTHORIZING THE ISSUANCE OF BONDS
was duly introduced for the· consideration of said City Council!
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,
prevailed and carried by the following vote:
AYES: All members of said City Council
shown present above voted "Aye".
NOES: None.
2. That a true, full and correct copy of the aforesaid
Ordinance passed at the Meeting described in the above and
foregoing paragraph is attached to and follows this Certifi-
cate; that said Ordinance has been duly recorded in said City
Council's minutes of said Meeting; that the above and fore-
going paragraph is a true, full and correct excerpt from said
City Council'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 ¡i
and acting officers and members of said City Council as indi-
cated therein; that each of the officers and members of said ¡
City Council was duly and sufficiently notifierl. officially an~
personally, in advance, of the time, place and purpose of the i
aforesaid Meeting, and that said Ordinance would be introduce4
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 pur-
pose of said Meeting was given, all as required by Vernon's
Ann. Civ. St. Article 6252-l7.
3. That the Mayor of said City has approved, and hereby
approves, the aforesaid Ordinance; that the Mayor and the
City Secretary of said City have duly si.gned said Ordinance;
and that the Mayor" and the City Secretary of said City hereby
declare that their signing of this Certificate shall consti-
tute the signing of the attached and following copy of said
Ordinance for all purposes.
SIGNED AND SEALED the
~/¿~k~
City SecretarrJ
27th day of May, 1975.
//V~ ct-d1thv
(// Mayor
(SEAL)
AN ORDINANCE
APPROVING RESOLUTION BY TRINITY RIVER
AUTHORITY OF TEXAS AUTHORIZING THE
ISSUANCE OF TRINITY RIVER AUTHORITY OF
TEXAS-CITY OF NORTH RICHLAND HILLS
(LITTLE BEAR CREEK PROJECT) REVENUE BONDS,
SERIES 1975, $260,000
WHEREAS, Trinity River Authority of Texas will adopt
a resolution in the form attached hereto; and
WHEREAS, said resolution should be approved by the
City of North Richland Hills, Texas;
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF NORTH RICHLAND HILLS:
Section 10 That the resolution authorizing the
Trinity River Authority of Texas City of North Richland Hills
(Little Bear Creek Project) Revenue Bonds, Series 1975, in
the principal amount of $260,000, in the form attached, is
hereby in all things approved, and this ordinance shall con-
stitute a request by said City for the issuance of said
proposed Bonds.
Section 2. That it is hereby officially found and
determined 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 issuance of said Bonds is 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 Anno Civ.
Stat. Article 6252-17, as. amendedo
----------------------
~n A~EGALITY:
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RESOLUTION NO. R-257
RESOLUTION AUTHORIZING THE ISSUANCE OF
TRINITY RIVER AUTHORITY OF TEXAS-CITY
OF NORTH RICHLAND HILLS (LITTLE BEAR
CREEK PROJECT) REVENUE BONDS, SERIES
1975, $260,000
THE STATE OF TEXAS:
TRINITY RIVER AUTHORITY OF TEXAS:
WHEREAS, a Sewer System Contract (hereinafter
called the "Contract") has been, or will be, duly executed
between the Authority and the City of North Rich1and Hills
(hereinafter called the "City"); and
WHEREAS, the date of the Contract is May 28, 1975;
and
WHEREAS, the Contract is hereby referred to and
adopted for all purposes, the same as if it had been set
forth in its entirety in this Resolution; and
WHEREAS, the governing body of the City has duly
approved a substantial draft of this Resolution or will do so
prior to delivery of the bonds here:i.n author~zed; and
WHEREAS, the bonds (hereinafter called the "Bonds")
authorized to be issued by this Resolution (hereinafter called
the "Resolution Ii) . are to be issued and delivered pursuant to
Vernon's Articles 8280-188 and 1109i and/or Chapter 25, Water
Code of Texaso
THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF TRINITY
RIVER AUTHORITY OF TEXAS:
Section 1. That said Authority's negotiable bonds
are hereby authorized in the aggregate principal amount of
$260,000 FOR THE PURPOSE OF ACQUIRING AND CONSTRUCTING
FACILITIES TO PROVIDE WASTEWATER DISPOSAL SERVICES FOR THE
CITY OF NORTH RICHLAND HILLS.
Section 2. That said bonds shall be designated a~
the TRINITY RIVER AUTHORITY OF TEXAS-CITY OF NORTH RICHLAND
HILLS (LITTLE BEAR CREEK PROJECT) REVENUE BONDS, SERIES 1975.
Section 3. That said Bonds shall be dated June 15,
1975, 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, respectively, as set forth in the fo~lowing
schedule:
MATURITY DATE: JUNE 15
YEARS AMOUNTS ' YEARS 'AMOUNTS YEARS AMOUNTS YEARS AMOUNTS
1976 $ 5,000 1981 $10,000 1986 $15,000 1991 $20,000
1977 5,000 1982 10,000 1987 15,000 1992 20,000
1978 5,000 1983 10,000 1988 15,000 1993 20,000
1979 5,000 1984 10,000 1989 15,000 1994 20,000
1980 10,000 1985 10,000 1990 15,000 1995 25,000
Section 40 That said Bonds shall bear interest
from their date until maturity or redemption at the following
rates per annum:
maturities 1976 through 19~~:, '1.-10 %
maturi t~_ 19!1 -t.h~~ß:i ' a _, -{: ~ %
maturit1. 19~ 1,.1.rr ...:_ 19, ~C¡D -%
maturitY.. 19.:iU. UU~~,:,A l~~, l.,.r-D %
maturit;''' 19~ Lhro~gh 19.::-, b:yo %
maturit'" 19:tl Lhreu;11\ 19 ~, ~.'-I-o %
maturit9:. 19i1 Lh.Lv"'':1L 19 ~, b.bD %
maturit'1-. 19~ ·th~_,-_...·_ .. "'-:.:..' b.g-o %
maturi tfMl 19:1Q. UU.UL.,:,:. 19:.-, '1.00 %
maturi t1~ 19~ !:f1;.~~"',:,A 19...::..., 1. '.0 %
maturi ty:om 19G\Ý' kh.. J"'''''~. 19.~, 1. YD %
maturit1-os 19'13 _~1-_u-- :;.- , n=-, 13V %
w.&\-,,\-.I"'\-~,_ -1q~_ _ _ _ ~.4:tD ~ú
Said i~t~t~ail~è evîdenceãb~'inter~~ c;tpons appertain-
ing to said Bonds, and which shall be payable in the manner
provided and on the dates stated in the FORM OF BOND set forth
in this Resolutiono
Section 5. That said Bonds and intèrest coupons
shall be issued, shall be payable, may be redeemed prior to
their scheduled maturities, shall have the characteristics,
and shall be signed and exec~ted (and said bonds shall be
sealed), all as provided, and in the manner indicated, in the
FORM OF BOND set forth in this Resolution.
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 en-
dorsed on each of said Bonds, and the form of the aforesaid
interest coupons 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
TRINITY RIVER AUTHORITY OF TEXAS-
CITY OF NORTH RICHLAND HILLS
(LITTLE BEAR CREEK PROJECT)
REVENUE BOND
SERIES 1975
ON JUNE 15, 19_, TRINITY RIVER AUTHORITY OF 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. Said interest shall be evidenced by inter-
est coupons payable June 15, 1976, and semiannually thereafter
while this Bond is outstanding.
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THE PRINCIPAL of this Bond and the interest coupons
Ij appertaining hereto shall be payable to bearer, in lawful
lì money of the United States of America, without exchange or
II collection charges to the bearer, upon presentation and
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il surrender of this Bond or proper interest coupon at the
!¡ fOllowing, which shall constitute and be defined as the "pay-
II ing Agent" for this Series of Bonds:
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THE FORT WORTH NATIONAL BANK,
FORT WORTH, TEXAS.
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11 THIS BOND is one of a Series dated as of June 15,
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¡,II 1975, authorized and issued in the principal amount of
! $260,000 FOR THE PURPOSE OF ACQUIRING AND CONSTRUCTING FACIL-
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I: ITIES TO PROVIDE WASTEWATER DISPOSAL SERVICES FOR THE CITY OF
H NORTH RICHLAND HILLS.
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Ii THE BONDS OF THIS SERIES maturing on and after
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¡i June 15, 1991, may be redeemed prior to their scheduled matur-
II ities, in whole, or in part, at the option of the Authority,
!ì on June 15, 1990, or on any interest payment date thereafter,
Ii at par and accrued interest thereon to the date fixed for any
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1\ such redemption. At least ten days prior to the date fixed
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¡j for any such redemption said Authority shall cause a written
Ii notice of such redemption to be published at ,least once in a
Ii financial publication published in the City of New York, New
¡¡
II York 0 By the date fixed for any such redemption, due provi-
'i sion shall be made with the Paying Agent for the payment of
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Ii the principal amount of the Bonds to be redeemed, plus accrued
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:1 interest thereon to the date fixed for redemption. If such
;¡ written notice of redemption is published, and if due provi-
!I sion for such payment is made, all as provided above, the
:1 .Bonds which are to be so redeemed thereby automatically shall
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il be redeemed prior to their scheduled maturities, and they
shall not bear interest after the date fixed for redemption,
and they shall not be regarded 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. Provided, if written notice is delivered to the
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¡¡, holder of all outstanding bonds of this Series, the above pub-
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~ lication shall not be required.
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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 authori-
zation, 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 inter-
est on this Bond are payable from, and secured by. a first lien
on and pledge of certain Net Revenues of the Authority under a
Contract between said Authority and the City of North Richland
Hills, Texas.
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'I SAID AUTHORITY has reservei the right to amend
[ the ~solution authorizing this Series of Bonds, with the
II approval of the holders of two-thirds of the outstanding Bonds,
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Ii subject to the restrictions stated in said Resolution.
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ij THE HOLDER HEREOF shall never have the right to
!i demand payment of thif:i obligation out of any funds raised or
II to be raised by the levy of taxes.
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IN WITNESS WHEREOF, this Bond and the interest
coupons appertaining hereto have been signed with the facsimile
signature of the President of the Board of Directors of said
Authority, and countersigned with the facsimile signature of
the Secretary of said Board of Directors, and the official
seal of said Authority has been duly impressed, or placed in
facsimile, on this Bond.
ii xxxxxxxx
~ Secretary, Board of Directors
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President, Board of Directors
FORM OF REGISTRATION CERTIFICATE:
COMPTROLLER'S REGISTRATION CERTIFICATE:
REGISTER NO.
" I hereby certify that this Bond has been examined,
!I certified as to validity, and approved by the Attorney General
II of the State of Texas; that the Contract mentioned therein has
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" been approved; and that this Bond has been registered by the
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,: Comptroller of Public Accounts of the State of Texas.
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Witness my signature and seal this
xxxxxxxxxx'
Comptroller of Public Accounts of the
State of Texas
FORM OF INTEREST COUPON:
$
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II promises to pay to bearer the ~ount shown on this interest
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:1 coupon, in lawful money of the United States of America,
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II without exchange or collection charges to the bearer, unless
II due provision has been made for the redemption prior to
II scheduled maturity of the Bond to which this interest coupon
I¡ill appertains, upon presentation and surrender of this interest
coupon, at
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II said amount being interest coming due that day on the Bond,
Ii bearing the number hereinafter designated, of that issue of
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ON
TRINITY RIVER AUTHORITY OF TEXAS
THE FORT WORTH NATIONAL BANK,
FORT WORTH, TEXAS,
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Ii TRINITY RIVER AUTHORITY OF TEXAS-CITY OF NORTH RICHLAND HILLS
Ii (LITTLE BEAR CREEK PROJECT) REVENUE BONDS, SERIES 1975, dated
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II JUNE 15, 19750 The holder hereof shall never have the right
II to demand payment of this obligation out of any funds raised
;; or to be raised by the levy of taxes. Bond No 0
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Secretary, Board of Directors
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President, Board of Directors
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Section 70 PLEDGE 0 That the Contract provides for
the semiannual payment by the City to the Authority (a) of
the amount necessary to pay all of the principal and/or
interest coming due on the Bonds herein authorized on each
principal and/or interest payment date, as provided in this
Resolution, and (b) an agreed fixed additional amount to cover
and reimburse the Authority for its administrative and overhead
exp~nses directly attributable to the Bonds, plus the actual
cost of any routine annual accounting audits. The Contract
further provides for the payment or reimbursement of extraordi-
nary or unexpected expenses and costs incurred by the Authority
in connection with the Bonds. The term Net Revenues, as used
in this Resolution, shall mean and be defined as all of the
gross revenues or payments received by the Authority from the
City under Section 5.03(i) of the Contract, after deducting
therefrom the amounts specifically paid to the Authority, as
described above, for the purpose of covering, paying, and re-
imbursing the Authority for such administrative and overhead
expenses, and for any such extraordinary or unexpected expenses
incurred by the Authority, with the result that the Net Revenues
shall consist of the amounts necessary to pay all principal
and/or interest coming due on the Authority's Bonds on each
principal and/or interest payment date. That the Bonds, and
the interest thereon, are and shall be payable from and secured
by an irrevocable first lien on and pledge of said Net Revenues,
and said Net Revenues are further pledged irrevocably to the
establishment and maintenance of the Funds hereinafter createdo
The City has contracted to make all of such payments from the
revenues of City's combined waterworks and sewer system as an
operating expense of said system.
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Section 8. SPECIAL FUNDS. That all gross revenues
or paym~nts received by the Authority under Section 5.03(i) of
the Contract shall be kept separate and apart from all other
funds of the Authority, and the following special Funds are
hereby created and shall be established and maintained in an
official depository bank of the Authority, so long as any of
the Bonds, or interest coupons appertaining thereto, are out-
standing and unpaid:
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(a) the Revenue Fundi
(b) the Interest and Sinking Fund¡
(c) the Reserve Fund.
Section 9. REVENUE FUNDo All gross revenues or
payments received by the Authority under Section 5003(i) of
the Contract shall be deposited as received by the Authority
into the Revenue Fund, and shall be deposited from the Revenue
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Fund, as hereinafter provided.
Section 10. INTEREST AND SINKING FUND. There shall
be deposited into the Interest and Sinking Fund the following:
(a) immediately after the delivery of the Bonds,
all accrued interest and any premium from the proceeds
from the sale of the Bonds.
(b) on or before June 10, 1976, and semi-
annually thereafter on or before each December 10th
and June 10th, an amount equal to the principal
and/or interest coming due on the Bonds on the next
succeeding interest payment date.
Section 11. USE OF INTEREST AND SINKING FUND. The
Interest and Sinking Fund shall be used to pay the principal
of and interest on the Bonds as such principal matures and
such interest comes dueo
Section 12. AUTHORITY'S EXPENSES AND COSTSo The
Authority shall pay, or reimburse itself for, its administra-
tive and overhead expenses, and for any extraordinary or un-
expected expenses or costs, attributable to, and in connection
with, the Bonds from the payments made by the City under the
Contract specifically for such purposes, and in no event from
the pledged Net Revenueso
Section 13. INVESTMENTS. Money in any Fund created
by this Resolution may be invested in securities permitted by
Vernon's Article 8280-188, Section 8-B, which mature in not
more than fifteen (15) years from the date of their purchase.
All income and profits from the investment of all funds
hereunder shall be deposited in the Interest and Sinking Fundo
In determining the payments due Authority from City under
Section 5003(i) of the Contract, any excess funds contained
in the Interest and Sinking Fund shall be taken into account
and the amount due on any payment date shall be reduced by such
excess amount contained in the Interest and Sinking Fund.
Section 140 DEFICIENCIES IN FUNDS. If the Authority
should fail at any time to deposit into any Fund created by
this Resolution the full amounts required, amounts equivalent
to such deficiencies shall be set apart and paid into said
Funds from the first available payments by the City under the
Contract, and such payments shall be in addition to the
amounts otherwise required to be deposited into said Funds.
Section 150 SECURITY FOR FUNDS. All Funds created
by this Resolution shall be secured in the manner and to the
fullest extent permitted or required by law for the security
of public funds, and such Funds shall be used only for the
purposes and in the manner. permitted or required by this
Resolution.
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II Section 180 INSPECTIONo Any holder or holders
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ii any Bonds shall have the right at all reasonable times to
í! inspect all records, accounts, and data of the Authority
Ii relating to the Contract and the Funds created by this
!I Resolution.
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¡I ,I' Section 16. ACCOUNTS AND RECORDS. The Authority
shall keep proper books of records and accounts, separate from
~ all other records and accounts of the Authority, in which
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ij complete and correct eritries shall be made of all transactions
~ relating to the Contract. The Authority shall have said books
~ audited once each Authority fiscal year by a Certified Public
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II Accountant.
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Section 17. ACCOUNTING REPORTS. Within one hundred
twenty (120) days after the close of each Authority fiscal
year hereafter, the Authority will make available during nor-
man business hours of the Authority, at Authority's General
Offices to the original Purchaser of the Bonds, the City and
to any holder of any outstanding Bonds who may so request, a
signed or certified copy of a report by a Certified Public
Accountant, covering the next preceding fiscal year, showing
the following information:
(a) A detailed statement of all payments under
the Contract, and the Authority's disbursements thereof;
(b)
Balance sheet as of the end of said fiscal
year;
(c) Accountant's comment regarding the manner in
which the Authority has complied with the requirements
of this Resolution and his recommendations, if any, for
aný changes or improvements.
of
Section 19. SPECIAL COVENANTS.
further covenants as follows:
The Authority
(a) That other than for the payment of the Bonds
herein authorized, the Net Revenues have not in any manner
been pledged to the payment of any debt or obligation of the
Authority;
(b) that while any of the Bonds are outstanding,
the Authority will not additionally encumber the Net Revenues;
(c) that the Authority will carry out all of its
obligations under the Contract; and when or if necessary will
promptly enforce and cause the City to carry out all of its
obligations under the Contract, for the benefit of the Auth-
ority and the holders of the Bonds, by all legal and equitable
means, including the use of mandamus proceedings against the
il City.
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~ Section 200 BONDS ARE SPECIAL OBLIGATIONS. The
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II Bonds shall be special obligations of the Authority payable
;1 solely from the pledged Net Revenues, and the holder or
il holders of the Bonds shall never have the right to demand
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II payment thereof out of funds raised or to be raised by the
II levy of taxes.
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Section 210 AMENDMENT OF RESOLUTION. (a) The
holders of Bonds aggregating in principal amount two-thirds
of the aggregate principal amount of then outstanding Bonds
shall have the right from time to time to approve any amend-
ment to this Resolution which may be deemed necessary or
desirable by the Authority, provided, however, that nothing
herein contained shall permit or be construed to permit the
amendment of the terms and conditions in this Resolution or
in the Bonds so as to:
(1) Make any change in the maturity of the
outstanding Bonds;
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if
(2) reduce the rate of interest borne by any
of the outstanding Bonds;
(3) reduce the amount of the principal
payable on the outstand~ng Bonds;
(4) modify the terms of payment of principal
of or interest on the outstanding Bonds, or impose
any conditions with respect to such payment;
(5) affect the rights of the holders of less
than all of the Bonds t~en outstanding;
(6) change the minimum percentage of the
principal amount of Bonds necessary for consent
to such amendment.
(b) If at any time' the Authority shall desire to
II amend the Resolution under this Section, the Authority shall
II cause notice of the proposed amendment to be published in a
II financial newspaper or journal published in the State of
, Texas, once during each calendar week for at least four suc-
il! cessive calendar weeks. Such notice shall briefly set forth
II the nature of the proposed amendment and shall state that a
II copy thereof is on file at the principal office of the Paying
II Agent for inspection by all holders of Bonds. Such publica-
Ii tion is not required, however, if notice in writing is given
to each holder of Bonds.
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II (c) Whenever at any time not less than thirty days,
¡I, ' and within one year, from the date of the first publication of
said notice or other service of written notice the Authority
II shall receive an instrument or instruments executed by the
, I! holders of at least two-thirds in aggregate principal amount
II of all Bonds then outstanding, which instrument or instruments
II shall refer to the proposed amendment described in said notice
ii and which specifically consent to and approve such amendment
¡I in substantially the form of the copy thereof on file with
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I the Paying Agent, the Authority may adopt the amendatory
II resolution in substantially the same form.
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(d) Upon the adoption of any amendatory resolution
pursuant to the provisions of this Section, the Resolution
shall be deemed to be amended in accordance with such amenda-
tory resolution, and the respective rights, duties, and
obligations under the Resolution of the Authority and all the
holders of then outstanding Bonds shall thereafter be deter-
mined, exercised, and enforced hereunder, subject in all
respects to such amendmentso
I: (e) Any consent given by the holder of a Bond pur-
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,I suant to the provisions of this Article shall be irrevocable
II for a period of six months from the date of the first publi-
I! bcation °lf ~he notdibc~ Pd:ovided forllinf this hsection, afnd shall
II e conc us~ve an ~n ~ng upon a uture olders 0 the same
!I Bond during such periodo Such consent may be revoked at any
I! time after six months from the date of the first publication
¡II of such notice by the holder who gave such consent, or by a
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II successor in title, by filing notice thereof with the Paying
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II Agent and the Authority, but such revocation shall not be
Ii effective if the holders of two-thirds aggregate principal
amount of the then outstanding Bonds as in this Section
defined have, prior to the attempted revocation, consented
to and approved the amendment.
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!¡ the holding of Bonds by any Bondholder and the amount and
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il! be proved by the affidavit of the person claiming to be such
Ii holder, or by a certificate executed by any trust company,
Ii bank, banker, or any other depository wherever situated
Ii showing that at the date therein mentioned such person had on
II deposit with such trust company, bank, banker, or other depos-
II itory, the Bonds described in such certificate. The Authority
II may conclusively assume that such ownership continues until
¡I . written notice to the contrary is served upon the Authority.
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Section 22. PROJECT ACQUISITION FUND. That in
accordance with the Contract, and immediately after the sale
and delivery of the Bonds, the Authority shall deposit from
the proëeeds from the sale of the Bonds into a special Project
Acquisition Fund the sum of $225,000. Said Project Ac-
quisition Fund shall be established, drawn on, and used in
the manner provided in the Contract, to pay the costs of ac-
quiring and constructing the facilities for which the Bonds
are being issued, subject to the requirement that each
expenditure from the Project Acquisition Fund must be ap-
proved by the "Consulting Engineers" named in the Contract
prior to the making of such expenditure.
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Section 230 RESERVE FUNDo That there shall be
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Ii the amount of $25,700. The Reserve Fund shall be used only
II for the .purpose of paying principal of or interest on the
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r Bonds when there is not sufficient money in the Interest
II and Sinking Fund for such payments. If the Reserve Fund
II
II is depleted below said amount any such depletion shall be
II restored from payments from the City of North Richland Hills
Ii under the Contract in an amount not less than $2,142 per
II month until such deficiency is restored.
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Section 24. APPROVAL AND REGISTRATION OF BONDS.
That the President of the Board of Directors of the Authority
is hereby authorized to have control of said Bonds and all
necessary records and proceedings 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 prescribed herein to
be printed and endorsed on each Bond, and the seal of said
Comptroller shall be impressed, or printed, or lithographed
on each of said Bonds.
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¡,i¡i Section 25. NO ARBITRAGE. That the Authority
covenants to and with the purchasers of the Bonds that it will
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II make no use of the proceeds of the Bonds at any time through-
¡lout the term of this issue of Bonds which, if such use had been
11 reasonably expected on the date of delivery of the Bonds to
II and payment for the Bonds by the purchasers, would have caused
II the Bonds to be arbitrage bonds within the meaning of Section
II
Ii 103(d) of the Internal Revenue Code of 1954, as amended, or
II any regulations or rulings pertaining thereto; and by this
'I covenant the Authority is obligated to comply with the re-
II quirements of the aforesaid Section l03(d) and all applicable
II and pertinent Department of the Treasury regulations relating
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I to arbitrage bonds. The Authority further covenants that the
¡ proceeds of the Bonds will not otherwise be used directly or
II indirectly so as to cause all or any part of the Bonds to be
i1 or become arbitrage bonds within the meaning of the aforesaid
II Section 103(d), or any regulations or rulings pertaining
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Section 260 EMERGENCY. That it is hereby offi-
cially found and determined: that a case of emergency or ur-
gent public necessity exists which requires the holding of
the meeting at which this Resolution is adopted, such emer-
gency 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 im-
provements; 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 Anno Civ. St. Article
6252-170
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II Section 27. SALE OF BONDS. That said Bonds are
I! hereby sold and shall be delivered to First Southwest Company,
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Dallas, Texas, for cash for the par value thereof and ac-
crued interest to date of delivery, and such accrued
interest shall be deposited in the Interest and Sinking Fundo
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LEGAL AFFIDAVIT
THE STATE OF TEXAS:
COUNTY OF
TARRANT :
Before me, the undersigned authority on this day personally
appeared Eleanor Lewis known to me to be a credible person. who
first being sworn, deposed and upon her oath said:
That she is thEP.0okkeeper of the Mid Cities DailY, a newspaper
News
which has been regularly and continuously published and of general
circulaticm In the City/Town of
Hurst
, for a period of
more than one year next preceding the first publication of the
attached
Legal Notice
and that he caused said notice to be
published in said newspaper on the following date/so 4/9/15
That the attached is a true and correct copy of said notice as pub-
lished on said date/s in said
Mid Cities Daily News
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Sworn to and subscribed before me, this the2mLday 011"7 '
19 7,L
Ie Hal.l
Public, Tarrant County,
Texas
-"-~_.. -
---
NOTICE' OF. . PUBLIC
HEAJUNG ,
1 The. Çìty C_il Qith,eCity
of North RicblandHills,.at
its regularly sehedu1~
meeting AprU28, 1975 will
consider the recommenda·
tionof the Planning ånd
Zomng Commission "inPZ
75·7' to APPROVE the ap.
. plica,tiohof ])oYle~irìcher
to rezone the followmg des-
cribed property., froro its
<present dassificationof
. Agriçu1~ to·. a, pro~ed
"classification of Local Re· i
taU. . :
/ To wit: Lot 6, Block 2, Mol..
·.lie B.Cóllins Addition,'
,This property ~s lOcated at ,
Smithfield Road " and' Odell
St. .....MAYOR
,.... ...'....:...,....,. ,
DICK .F!AAMf·
CITY OF 'Not{TH
RICHLAND HILLS
. ACTING CITY .
SECRETARY,
Rt)THPINNER' .
MÇQN ,PN-NO. 8479,
;Pub: 419175' '
Form -- 110