HomeMy WebLinkAboutOrdinance 0357
ORD INANCE NO. 357
ORDINANCE AUTHORIZING ISSUANCE OF $500,000
"CITY OF NORTH RICHLAND HILLS, TEXAS, STREET
IMPROVEMENT BONDS, SERIES 1971,
DATED JULY 10, 1971
THE STATE OF TEXAS X
X
COUNTY OF TARRANT X
X
CITY OF NORTH RICHLAND HILLS X
ON THIS, the 14th day of June, 1971, the City Council of
the City of North Richland Hills, Texas, convened in regular ses-
sion at the regular meeting place thereof in the City Hall, the
meeting being open to the public and notice of said meeting, giving
the date, place and subject thereof, having been posted as pre-
scribed by Article 6252-17, Section 3A, V.A.T.C.S., there being
present and in attendance the following members, to wit:
MARION L. MASSEY
MAYOR
DICK F ARAM
TOM E. NEWMAN
W. F. POLSTER
J. R. HUBBARD
J. F. CATO
CHARLES L. OWEN
M~XI1~
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COUNCILMEN
and with the following absent: Morris E. Riddle ,
constituting a quorum; and among other proceedings had by said City
Council were the following:
The Mayor introduced a proposed ordinance. The ordinance
was read in full.
Councilman Hubbard made a motion that any rule
requ~r~ng an ordinance to be read more than one time or at more than
one meeting be suspended and that the ordinance be passed finally.
Councilman Faram seconded the motion and, the question
being called for, the motion, carrying with it the adoption of the
ordinance, carried by the following vote:
AYES: Councilmen Faram, Newman, Polster, Hubbard, Cato,
(ji¡¡en xæcd:~.
NOES: None.
The Mayor announced that the ordinance had been finally
passed.
The ORDINANCE is as follows:
AN ORDINANCE by the City Council of the City of
, North Richland Hills, Texas, authorizing
the issuance of $500,000 "CITY OF NORTH
RICHLAND HILLS, TEXAS, ,STREET IMPROVEMENT
BONDS, SERIES 1971," dated July 10, 1971,
for the purpose of making permanent public
improvements, to-wit: constructing street
improvements in and for said City and inci-
dental drainage; prescribing th~ form of the
,bonds and the form of interest coupons; levy-
ing a èontinuing direct annual ad valorem
tax on all taxable property within the limits
of said City to pay the interest on said bonds
and to create a sinking fund for the redemp-
tion thereof and providing for the asseSSment
and collection of such taxes; enacting provi-
sions incident and relating to the subject
and purpose of this ordinance; and declaring
an emergency.
WHEREAS, pursuant to an election held in the City of North
Richland Hills, Texas, on the 2nd day of April, 1968, this City
Council became authorized and empowered to issue $4,380,000 general
obligation bonds of the City to mature serially over a period of
years not to exceed 40 years from their date for the purpose of
making permanent public improvements, to wit: constructing street
improvements in and for said City and incidental drainage; and
WHEREAS, under the provisions of Article 717k-2, V.A.T.C.S.
this City Council is now empowered to issue and sell such bonds at
any price or prices and to bear interest at any rate or rates that
shall be determined within the discretion of this governing body; and
WHEREAS, $2,500,000 of the bonds voted as aforesaid have
heretofore been authorized, issued and sold, and it is necessary
to issue and sell an additional $500,000 of the bonds voted as afore-
said, the City Council reserving the right and authority to issue
the remaining amount of such voted authorization in one or more
'series at a future date or dates when, in its judgment, such amounts
are needed for the authorized purpose; therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH
RICHLAND HILLS, TEXAS:
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Ii SECTION 1: That the bonds of said City, to be knmvn as
i[ "CITY OF NORTH RICHLAND HILLS, TEXAS, STREET IMPROVEMENT BONDS,
i¡SERIES 1971," be, and the same are hereby ordered to be issued in
Ii the prine ipal sum of FIVE HUNDRED THOUSAND DOLLARS ($500,000), for
i\ the purpose of making permanent public improvements, to wit:
¡constructing street improvements in and for said City and incidental
¡¡drainage, under and by virtue of the Constitution and laws of the
~State of Texas. '
I:
II
II SECTION 2: That said bonds shall be numbered consecu-
I!tively from One (1) through One Hundred (100); shall each be in
Hdenomination of Five Thousand Dollars ($5,000), aggregating FIVE
¡ HUNDRED THOUSAND DOLLARS ($ 500,000); shall be dated July 10, 197:)..;
¡¡and shall become due and payable serially on July 10 in each of the
liyears in accordance with the following schedule:
,
;:
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BOND NUMBERS
(All Inclusive) MATURITY AMOUNT
1 and 2 1973 $10,000
3 and 4 1974 10,000
5 and 6 1975 10,000
7 and 8 1976 10,000
9 and 10 1977 10,000
11 and 12 1978 10,000
13 to 15 1979 15,000
16 to 18 1980 15,000
19 to 21 1981 15,000
22 to 24 1982 15,000
25 to 27 1983 15,000
28 to 30 1984 15,000
31 to 34 1985 20,000
35 to 38 1986 20,000
39 to 42 1987 20,000
43 to 46 1988 20,000
47 to 51 1989 25,000
52 to 56 1990 25,000
57 to 61 1991 25,000
62 to 67 1992 30,000
68 to 73 1993 30,000
74 to 79 1994 30,000
80 to 86 1995 35,000
87 to 93 1996 35,000
94 to 100 1997 35,000
PROVIDE~ HOWEVER, that the City reserves the right to redeem bonds
maturing on July 10 in each of the years 1987 through 1997 of said
series, in whole or any part thereof, on July 10, 1986, or on any
interest payment date thereafter, at the price of par and accrued
interest to the date fixed for redemption; PROVIDED FURTHER, that
at least thirty (30) days prior to any interest payment date upon
which any of said bonds are to be redeemed, a notice of redemption,
signed by the City Secretary (specifying the serial numbers and
amount of bonds to be redeemed) shall have been filed with THE FORT
WORTH NATIONAL BANK, Fort Worth, Texas, and NORTHEAST NATIONAL BANK,
Fort Worth, Texas (the paying agents named in each of said bonds);
and should any bond or bonds not be presented for redemption pur-
suant to such notice, the same shall cease to bear interest from
and after the date so fixed for redemption.
SECTION 3: That said bonds shall bear interest from date
to maturity at the following rates per annum:
(a) Bonds maturing in each of the years 1973
through 1977 at 8 1/2%;
(b) Bonds maturing in each of the years 1978
and 1979 at 4.60%;
(c) Bonds maturing in each of the years 1980
and 1981 at 5.00%;
(d) Bonds maturing in each of the years 1982
through 1984 at 5.60%;
(e) Bonds maturing in each of the years 1985
and 1986 at 6.00%;
(f) Bonds maturing in each of the years 1987
and 1988 at 6.20%;
(g) Bonds maturing in each of the years 1989
through 1991 at 6.30%;
(h) Bonds maturing in each of the years 1992
and 1993 at 6.35%;
(i) Bonds maturing in each of the years 1994
through 1997 at 6.40%;
such interest to be evidenced by proper coupons attached to each of
said bonds, and said interest shall be payable on January 10, 1972,
and semi-annually thereafter on July 10 and January 10 in each year.
SECTION 4: That both principal of and interest on said
bonds shall be payable in lawful money of the United States of
America, without exchange or collection charges to the owner or
holder, at THE FORT WORTH NATIONAL BANK, Fort Worth, Texas, or, at
the option of the holder, at NORTHEAST NATIONAL BANK, Fort Worth,
Texas, upon presentation and surrender of bonds or proper coupons.
SECTION 5: That the seal of said City may be impressed
on each of said bonds or, in the alternative, a facsimile of such
seal may be printed on the said bands. The bonds and interest
coupons appurtenant thereto may be executed by the imprinted facsi-
mile signatures of the Mayor and City Secretary of the City) and
execution in such manner shall have the same effect as if such
bonds and coupons had been signed by the Mayor and City Secretary in
person by their manual signatures. Inasmuch as such bonds are re-
quired to be registered by the Comptroller of Public Accounts for
the State of Texas, only his signature (or that of a deputy desig-
nated in writing to act for the Comptroller) shall be required to
be manually subscribed to such bonds in connection with his regis-
tration certificate to appear thereon, as hereinafter provided,
all in accordance with the provisions of Article 7l7j-l, V.A.T.C.S.
SECTION 6: That the form of said bonds shall be sub-
stantially as follows:
NO.
UNITED STATES OF AMERICA
$5,000
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF NORTH RICHLAND HILLS, TEXAS, STREET
IMPROVEMENT BOND, SERIES 1971
The CITY OF NORTH RICHLAND HILLS, a municipal corporation
of the State of Texas, acknowledges itself indebted to and, FOR
VALUE RECEIVED, hereby promises to pay to bearer, the sum of
FIVE THOUSAND DOLLARS
($5,000), in lawful money of the United States of America, on the
TENTH DAY OF JULY, 19 , with interest thereon from the date hereof
to maturity at the ra~of PER CENTUM ( %) per annum,
payable on January 10, 1972, and semi-annually thereafter on July 10
and January 10 in each year; and interest falling due on or prior
to maturity hereof is payable only upon presentation and surrender
of the interest coupons hereto attached, as they severally become
due.
BOTH PRINCIPAL OF AND INTEREST ON this bond are hereby
made payable at THE FDRT WORTH NATIONAL BANK, Fort Worth, Texas,
or, at the option of the holder, at NORTHEAST NATIONAL BANK, Fort
Worth, Texas, without exchange or collection charges to the owner
or holder, and for the prompt payment of this bond and the interest
thereon at maturity, the full faith, credit and resources of the
City of North Richland Hills, Texas, are hereby irrevocably pledged.
THIS BOND is one of a serl.es of One Hundred (100) serial
bo~ds, numbered consecutively from One (1) through One Hundred
(100), each in denomination of Five Thousand Dollars ($5,000),
aggregating FIYE HUNDRED THOUSAND DOLLARS ($500,000), issued for
the purpose of making permanent public improvements, to wit: con-
structing street improvements in and for said City and incidental
drainage, under authority of the Cons~itutiort and laws of the State
of Texas, and pursuant to an ordinance duly adopted by the City
Council of the City of North Richland Hills, Texas, and duly re-
corded in the Minutes of said City Council.
AS SPECIFIED in the ordinance hereinabove mentioned, the
City reserves the right to redeem bonds maturing on July 10 in
eách of the years 1987 through 1997 of this series, in whole or
any part thereof, on July 10, 1986, or on any interest payment date
thereafter, at the price of par and accrued interest to the date
fixed for redemption, PROVIDED, HOWEVE~, that at least thirty (30)
days prior to any interest payment date upon which any of said
bonds are to be redeemed, a notice of redemption, signed by the
City Secretary (specifying the serial numbers and amount of bonds
to be redeemed) shall have been filed with THE FORT WORTH NATIONAL
BANK, Fort Worth, Texas, and NORTHEAST NATIONAL BANK, Fort Worth,
Texas; and should any bond or bonds not be pres'ented' for redemption
pursuant to such notice, the same shall cease to bear interest from
and after the date so, fixed for redemption.
IT IS HEREBY CERTIFIED, RECITED AND REPRESENTED that the
issuance of this bond and the series of which it is a part is duly
authorized by law and by an election held for that purpose within
said City; that all acts, conditions and things required to be done
precedent to and in the issuance of this series of bonds and of this
bond have been properly done and performed and have happened in
regular and due time, form and manner as required by law; that
sufficient and proper provision has been made for the levy and
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ollection of taxes which, when collected, shall be appropriated
lusively to the payment of this bond and the series of wþich it
is a part,'and to the payment of the interest coupons thereto
d, as the same shall become due, and that the total indebted-
ss of the City of'North Rich1and Hills, Texas, including the
ire series of bonds of which this is one, does not exceed any
titutional or statutory limitation.
IN TESTIMONY WHEREOF, the City Council of the City of
th Richland Hills, Texas, has caused the seal of said City to
impressed or a facsimile thereof to be printed hereon, and this
and its appurtenant coupons to be executed with the imprinted
imile signatures of the Mayor and City Secretary of said City,
in accordance with the
the date of this bond
,
referred to, being the
prov~s~ons of Article 7l7j-l, V.A.T.C~S.;
in conformity with the ordinance above
~ENTH DA('~F J~' y, 1~71. ,- ~
/ )J t<.!;-1 ~ '7!t(fJl¡C .
Ma§o ,(¿1ty of ~1Chlana ~, ;
, u_-- r
COUNTERSIGNED:
City Secretary, City of North Richland
Hills, Texas
SECTION 7: That the form of interest coupons attached to
each of said bonds shall be substantially as follows:
NO.
ON THE TENTH DAY OF
19
$
*(unless the bond to which this coupon pertains has been properly
called for redemption in accordance with its terms,) the CITY OF
NORTH RICHLAND HILLS, a-municipal corporation of the State..of Texas,
hereby promises to pay to bearer, at THE FORT WORTH NATIONAL BANK,
Fort Worth, Texas, or, at the option of the holder, at NORTHEAST
NATIONAL BANK, Fort Worth, Texas, witpout exchange or collection
charges to the owner or holder, the sum of
DOLLARS
( $ ), in
sum being
NORTH RICHLAND
.dated July 10,
lawful money of the United States of America, said
months' interest due that day on "CITY OF
HILLS, TEXAS, STREET IMPROVEMENT BOND, SER~ES 971,"
1971. Bond No.' . '/! /'
(--·lj~·lc<,¿'V7íJz:dJ
City Secretary . ~ ~
SECTION 8: That the followiI,lg certificate shall be 1/'
printed on the back of each bond:
STATE OF TEXAS
x
X
X
REGISTER NO.
OFFICE OF COMPTROLLER
I HEREBY CERTIFY that there is on file and of record in my
office a certificate of the Attorney General of the State of Texas
to the effect that this bond has been examined by him as required
by law,' and that he finds that it has been iss~ed in conformity with
the Constitùtion and laws of. the State of Texas, and that it is a
TO PRINTER: The expression in parentheses to be included only
in coupons maturing January 10, 1987, and subsequent, p~rtaining to
optional bonds ITßturing in the years 1987 through 1997.
valid and binding obligation upon said City of North .Richland
Hills, Texas, and saiâ bond has this day been registered by me.
WITNESS MY HAND AND SEAL OF OFFICE at Austin, Texas,
Comptroller of Public Accounts of
the State of Texas
SECTION 9: That to provide for the payment of the debt
service requirements on the said bonds, being (i) the interest on
said bonds and (ii) a sinking fund for their redemption at maturity
or a sinking fund of 2% (whichever amount shall be greater) there
shall be and there is hereby levied for the current year and each
succeeding year thereafter while said bonds or interest thereon
'shall remain outstanding and unpaid, a sufficient tax on each one
hundred dollars' valuation of taxable property in said City, ade-
quate to pay such debt service requirements, full allowance being
made for delinquencies and costs of cQllection; said tax shall be
assessed and collected each year and applied to the payment of the
said debt service requirements, and the same shall not be diverted
to any other purpose. The taxes so levied shall be paid into a
fund known as "SPECIAL STREET IMPROVEMENT BOND FUND, SERIES 1971"
which is hereby established for the payment of the obligations
herein authorized. The City Council hereby declares its purpose
and intent to provide and levy a tax legally and fully sufficient
for such bonds, it having been determined that the existing and
available taxing authority of the City for such purpose is adequate
to permit a legally sufficient tax in consider~tion.of all other
outstanding obligatio~s.
SECTION lO~ That the Mayor of said City shall be and he
is hereby authorized to take and have charge of all necessary orders
and records pending investigation by the Attorney General of the
State of Texas, and shall take and have charge and control of'the.
bonds herein authorized pending their àpproval by the Attorney
General and their registration by the Comptroller of Public Accounts
SECTION 11: That the sale of the bonds herein authorized
to
Underwood, Neuhaus & Co.
at the price of par and accrued interest to date of delivery, plus
a premium of $ -0- , is hereby confirmed. Delivery of the bonds
shall be made to said purchasers as soon as may be after the adop-
tion of this ordinance, upon· payment therefor in accordance with
the terms of sale.
SECTION 12: The purchasers ,. obligation to accept de-
livery of the bonds herein authorized is subject to their being
furnished a final opinion of Messrs. Dumas, Huguenin and Boothman,
Attorneys, Dallas, Texas, approving such bonds as to their validity,
said opinion to be dated and delivered as of the date of delivery
and payment for such bonds. Printing of a true and correct copy
of said opinion on the reverse side of each of such bonds, with
appropriate certific.ate pertaining thereto executed by facsimile
signature of the City Secretary of the City of North Richland
Hills, Texas, is hereby approved and authorized.
?ECTION 13: That the public importance of this measure
and the fact that it is to the best. interest ûf the City to provide
funds for the street improvements contemplated at the earliest
possible date constitute and create an emergency and an urgent
public necessity, requiring that any rule providing for ordinances
to be read more than one time or at more than one meeting of the
City Council be suspended, and· requiring .that this ordinance be
passed and take effect as an emergency measure, and any such rules
or provisions are accordingly suspended and this ordinance is
passed as an emergency measure, and shall take effect and be in
full force from and after its passage.
PASSED AND APPROVED, this thè 14th day of June, 1971.
7((j¡)r~ ~. ~}0lÚJ~:¿: >
Mayor, City of''N5rh R~chîand H' s,
Texas
)-<.. /¿;~~L
sec~, ~ity of North Rich1and
Hills, Texas
(Ci ty Seal)
APPROVED AS TO LEGALITY: ~
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!Þ{/ Attorney, City of North
Richland Hills, Texas
II
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.I THE STATE OF TEXAS
¡
,
Ij COUNTY OF TARRANT
II CITY OF NORTH RICHLAND HILLS
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\! WE, the undersigned, Mayor and City Secretary-Treasurer, !
il respectively, of the City of North Richland Hills, Texas, pO HEREBY ¡
'Iii.' CERTIFY as follows: ì
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II 1. That the following is a· full and correct statement of I
II the tax-supported indebtedness of said City as of the date herein- !
II be low shown: . I
'II I
II ,
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I, Kind of Bonds ¡
1!¡Bt. Imp. I
I Ser. 1968 I
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J ¡
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II St. Imp' .
II Ser. 1969
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GENERAL CERTIFICATE
Date
Int.
7-1-68
6.00%
5.00%
5 1/4%
5.30%
5.40%
3-15-69
6.00%
5 1/4%
5.30%
St., Imp.
ISer. 1970
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X
.X
X
X
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Maturity
Arnoun t
Outstanding
$15,000
20,000
25,000
25,000
30,000
3Q,000
35,000
40,000
45,000
45,000
50,000
55,000
60,000
20,000
25,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
65,000
65,000
70,000
7-1-71/72
73/77
78
79/81
82/83
84
85/87
88/89
90/91
92
93/94
95/96
97/98 $
970,000
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3-15-7'0 7.00% 10,000 3-15:"'72/78
6.00% 10,000 79
15,000 80/82
6 3/4% 20,000 83/86
25,000 87
7.00% 25,000 88/89
30,000 90/91
7.10% 35,000 92/93
40,000 94
50,000 95
3-15-72
73/74
75
76/78
79/a2
83
84/86
87/88
89/90
91
92
93/94
980,000
500,000
$2,450,000
$ 116!123
TOTAL OUTSTANDING TAX-SUPPORTED INDEBTEDNESS
Sinking funds on hand to credit of above debt
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~ 2. That the duly qualified and acting officers of said
Ii City are as follows:
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II 3. That said City is incorporated under the general laws
II of the State of Texas, and is operating under the Home Rule Amend-
!!ment to the Texas Constitution, Section 5, Article XI, as amended
Ii in 1912; the City Charter was originally adopted at an election
Ii held on November 3, 1964, and has not been amended in any respect
~since its adoption on 'said date. .
II
II WITNESS OUR HANDS AND THE SEAL OF THE CITY OF NORTH
I¡RICHLAND HILLS, TEXAS, this the 14th day of June, 1971.
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II (City Seal)
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MARION L. MASSEY
DICK FARAM
TOM E. NEWMAN
W. F. POLSTER
J. R. HUBBARD
J. F. CATO
CHARLES L. OWEN
MORRIS E. RIDDLE
EVALYN R. HUSTON
EVALYN R. HUSTON
DENNIS MARTIN MORROW
MAYOR
COUNCILMAN
COUNCILMAN
COUNCILMAN
COUNCILMAN
COUNCILMAN
COUNCILMAN
COUNCILMAN
CITY SECRETARY-TREASURER
TAX ASSESSOR-COLLECTOR
CITY ATTORNEY
<..:.Z~lt~~¥I kiÞr-
ayor, City of Nort~Richlanâ lIs,
;:J Texas
/7 /
J~ä,~J If zL
Secre~ry-Treasurer, City of
North Rich1and Hills, Texas
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LEGAL AFFIDAVIT
THE STATE OF TEXAS:
COUNTY OF TARRANT
Before m~, the undersigned authority on this day personally
appearedEleanor Lewiª,nown to me to be a credible person. who
first being sworn, deposed and upon her oath said:
Bookkeeper Mid Cities Daily News
That she is the of the , a newspaper
which has been regularly and continuously published and of general
circulatidtl -in the City/Town of Hu.:r- s t
, 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 7/2/71
That the attached is a true and correct copy of said notice as pub-
Hshed on said date/s in said Mid Cities Dailv News
1/1~~~
Sworn to and subscribed before me, this thekS.day ofAUg ,
19 ..7J,
Public, Tarrant
Texas
ATTACH LEGAL
COpy HERE
1973
1974
1975
1976
19'fr
1971
1fJt
1:t8ò
1982
19Q3
1984
1.
1M
1937
1988
1989
1$90
1tP1
1.
1993\
1994
1995
1.
1W1
bedór1t\ pre-
nee
of this se . of
this bond have been properly
done and performed and have
happened in regular and due'
time, form and manner às
required by law; that sufficient
and proper provision has been I
madiifot the levy and collec-
tion 1)f taxes which, when col-
lected, shall be appropri$ted
exclusivély to th~ payment of'"
this bond and the series of
which it is a part;,añd tò the
. payment of. the interest c(»
pons thereto annexed, às the
same shall bec<me due, and
that thetota}' indebtedness of .
tl:1e City of North Richland
Hills, Texas, including the en-
tire' series of bonds of which
this is one, doßs not eXceed
anycQDStitutionalor statutory
Urnitat1Ò1L .... ." .
IN TES'l'lMONY WHEREOF
the City Council of thè· City of
North Richlahd Hills, Texas,
has caused the seal ofsaid City
to be impressed or a facsimile
thereOf -to be printed hereon,
and this bond and its appurten-
ant coupons' to be executed
with the iinprinted. facsimile
sigœtures of 'the Mayor and
City Secretary of said City, in
accordance with the provisions
of Article 717j-l, V.A.T.C.S.;
the ofth¡S bond, in con-
." witJr' 'the ocdinance
àbo etmedto, being the
TEN'11I DAY OF JtJJ..,Y, 1971.
. Mayor,
City of NQI'th
Richlánd Hills,
Tœas
á1t~~ve,
seâlmaýbe
bònds.The boi1ðs and interest
coupons ,~pµrtènant thereto
rµay . be er.ecµteò.~ the im-
printed facsimilesignatµres of
.' the'Mayôrand City Secretary
cithe City, and ex~cution in
~maMer~~1 h~e the
sØJne effect as Jfsuch bonds
a~.coupons badbee~ signed
by th~ MayG.%' and, City Secre- .
t~ in.~'Ytheir manual
Slgnatul'ei;fnasmuCh as such
bónds are rØ¡uiredtoberegi~
teredºy~e ComptrØßeJ' of
Public Accounts for the State
of Texas, only bls signature- (or
. that of a deputtde$ignåted in
writing to act ·-tot th.e Camp-
tiOller) shall be l'fquired to be
manuallysubSOribedtosuch
bò~il\èQ~tion with his
registration 'cèt'tl.ficateto·}",
pear thereon, as hereinafter
provided, all' in ..accordance .
with the provisions of Article
717Ï"l, V.A.T.C.S;
AMT.. SdECTlON 6:'lbat the form of
sai bonds shall be substantial"
$10,,000 ly as fol1òWs:
10,000 NO; . $5,000
10,OOOUNITEI}øAi'fES "
10,000 OFAMERlCA
10,000 STATE OF TEXAS .
. ~o,oOO COUNTY OF TARRÁNT
~,OÐO CITY OF NO:aTH
15,000 RICHLAND Hn,LS,
15,. 'fE;:tt\S, STREET
15,000 IMPROVÉMENTB9ND,
15,000 SERIES 1971; .'
; 15~OOO The CITY OFNORTß1UCH~
.000 !;.AND, ~LLS, .amulÙcipal
2O,o'ó'&~orpøration of ttteState of
. 20 000 Tœas, . acknowledges ..1t8..
20:000 indebted to' ãnd, FOR~åJ;.UE
25,000 RECEIVED, herebY1>1'mmseS
25,000 to pay to bearer, thesµmof
~5,OOO FIVE mOUSAND DOLLARS
'30,000 (5,OOO),inlaWfutmoneyof the
:30,oøo1Jnl.ted;,~!lt~.ofAmerica, on
at)'í.ttte TEH'm·ÐA~"iØF:··
. 35,000 19:-, with interes
35,000 from the date hereof to matùn-
:3&,000 ty ,,1It the rate of PER
. CEN'lUM ( percent) per an-
num, payable on January 10,
1972,. and'.sEmi~annually there-
after on July 10 and Janual.'Y 10
in each yeàr; a . J-
COUNTERSIGNED:
City Secretary,
City of North Rich1and
Hills, Texas
om __._
SECTION 7: That the form of
: coupo~ ..attáched to
'9f s shall be
stant' lows: ."
NO. . '~' . $
ON. THE TENTH DAY OF ,
19 '. ,
* (unlesa.¡tbebond t9 which this
coo . ,., t)een pr0p-
erly . in
s,)
eoa ., eo11ection; IIÌId tax
lIball .. ___ .. «IÌecIted
e&cb,-to the
~ser-
viee .: tþe!
be to
, "I' The taxes
~ levièd be~ a
,Jund ',known as, uS At
STREET 'IMPROVEMEN'l1
B. ill,. SERiES iSl'l"
, eby establitbed for
of the obligations
rized. ",The ~ty,
Iy and y
bonds, it
tbat
ta·
for
to
permJt , clelá tal
in consideration of all .....
outsYnding obligations.
SJOC'TION 10: 'Ibat the M....
of slid City shall be and be i.
lM1iNby authorizedtð 'Wk_ ..
have charge of all n~
orders and records pendiJtø
investigation by the At....,
General of the State of T....
and shall take andbaY,e cJwp
and Control of the bonds beréft
~uthorized ,~ ~ ..
proval by,. rne,G....
and tbeiròn by the
Comptroller . Public .\eo
counts..:, '
SECTION 11: That the" of
the bonds'her~n'authorized to
Underwood. Neuhaus &: Co. at
the price of par and aceI1IId
, interest' to ,date of deUM')',
. plus a premitUri It $4)-, il her.
i by confirmed. Delivery of the
bonds shall be made to ...
purchasers. soon as may be
after the ádoption of tbis ordi-
nance, upøn paymemtllafw,
in aecoriJance with the term.
of sale. ,',' , ,
SECTJON 12: The'.~
ert oN'gatlon to aceèpt deli~
very of the bonds herein au-
thoriz" ijsubJeét, to their
: ,being fumifiìed a fÌlifl opinIoÍl
ofMessn¡.Dumas,'H enm
and. A ,Pal.
,{às. . .h
. be> said
and de-
ate, of~t·
',:for sUch '
.. true and
.on
Of
~..~ ,~~--"",-_.,"_.,.__._-,~._»~_._-_._-
Secretary (specifying the seri-
JJ'ö~"'s and, amount. of ~".*j1~or.!!~t~
=:r=e:ell~~~~= (:"'1::-.er~~
trØRT WORTg.NA.'.I'I~thil .....erfullest·f~t. .hr-,
~~1( Fort Worth¡T.as,åttd .. ...
NORTHEAST NATIgri~eeSofthe
BMiI(, . fort Worth,.TeJI;as<tJ¡eCit}"ofN bland · Hills,
p~ "entsnamtd .in· each Tet.as,are' hereby irrevocably
o(Sa1d~); and~ould.any pledged. . '. .'.
bond orbtJjdsnot be presented '( TliiS BOND is one of a series
for.red~ption pursuant to ofoneH~ed (100) serial
such. . notiçf,.the.same Š1all bonds, nwnbet'ectcon_utlve1y
ceaàe to bear interestfrcm (roth- 'One (1) .... Ìhroogh One
and after the date. so fixed for Hun<lfed (lIM)),eacbin d.eooMi-
reciesnpl:ton... nation of}i'ive ThOU~ Dol-
SECTION 3: That said bonds lars·. ($5,000), ag,hping
shall bear interest frClJ1 dateto FIVEHUNPREDrøOVSAND
maturity at the following rates DOLLARS, ($501),0,00), . issued
per annwn: , fI>t tftE!PU1'¡)òse.o.fmaking
. (a) BQDds maturing· in.each Permaneqtpubl1c, hnprove-
.oftl1eyeaJ's 1973 throUgh 1977 m~, to wit: "constl'Ut'ting
at8~per cent; '. . stteetimprovementsipand ,for
(b) Bondi maturing in each said City. an~incidental drain-
cItheYears 1978 and 1979.at age,under.hority of the'
UO percent; . . Constitution.andlaws of the
(C) Bonds maturing in' each State ,of Texas ~pursuantto
oftM yelq's 1980 and 1981 at an ordinance duly adopted by
S,OOper cent; . ..' . . .the€ityCouncilct the City of
(4) Bonds maturing in each. North RichlandHills;Texas,
ofJ~ey$irS 1982 through '1964 , and duly reeoçded in the Min-
.~t ~.~60 percent; .' . ute!! ohaidCityÇouncil.
(e) Bonqsmaturing in each AS SPECIFIED in tbe ordi-
ciUje years 1985 and 1986 at nance h~t~~bòve mentioned,
6.00percèRt:' '. ..the . CitYl'~es the right to
(f) Doms .mlÜuring . in . each ' redeem bonds . . maturing on
1(1. the' years' 1987 and 1988.at; July 10ineáCh of the years
... 6.20 pet cent; . . ....... . 1987 througb<l~of this series,
(,) . B<mds ,Q1aturing in each in. wholeor.áf1Ypàrt thereof,
of tint year$1~9 through 19$1 on July 10; 1886, or on8l1Y in-'
at6.æper cen.t:. '. .... terestpa)'mentdatethereaft-
.' (h) Bòndsmaturing in each er, at the price of par and ac-
of. th, yeàrs J992 and 1993 at cruedinterest to the date fixed
··Ø.35Percent;· '. for redemption, PROVIDED,
(llBt>ndIJ znat\Jl'Ìng in eacbof HOWEVER, t1ìat at IE!ast thirty
tbey~slØ94 through; 1997 at (30) days prior toaD)' interest
..46~erc~t; ..... ..' payment date upon wbich any
~~'il1terf;sttobé evJdenced of. said bonds are)p be re-
b~ Ptcoþe!'C .: ... \attacàedto' deemed, a notice of redemp-
,~'~¡saiªf! ,..l1ßdsaid tion, signèd,by theOity Seere-
;,'~est;~"r leon t.ary·.(sPeclfyin~> the' serial
~'¡~~y,lØ" ,. ........ ,..~i-numbetsánd amount of bonds
:¢1t)1\·"'nually '. ' ·~\<»sªù1Yl )tobe,·redeemed)shall beYe
t~¢,. .' "':' 'been filed ,Wi~hTHE FORT
, '" ',. . . WORTH ·...NA1'IONAL BANI<,
Fôrt .,,' . Te (as, ånd
*9R11l ....... .' . . NATIONAL
.ø~t.·.·Ført \Yorth, , T~as;
"åìtdshot.t!d .~.:o.r'ÞœØs
. . n()t~pre,' 'f~rJ:'eden1p·
tion. . .. e,
bear
the
~
~ plllßUIJIt P1IDIc im·.
pnw-... ....: ..........
¡.*eet'· Ira
den-
the
rm
, ' ,éoupons; 'levying a
. ng" direct ,annual ad
. ._ern ta 'm aU taxeb1e
. " . ( . Y witbintbe limits of
. aty to pay the interest òn
. bonds .. to create' a
ÌIbItdq. fund for the redemp-
tionthereofQd prOYiding for
the aesessmentand collection
of sa tax.; enacting provi·
sionì'iaCident·and relati~ to
the III '.: and: PtfPose of this
ordi , and <tëclaring, an
ene!'leney. J .
,I pursue'" to an
eId In the. CSty of
Nòrth, d' Hills, Texas,
on the· 2fM! day 11 April~ 1.9.88,
this City Co.uQcllbecame au-
thor1le6: and' empowered to
issue tf.IJtMØ1 genèraI obliga-
tion ÞOndf of the aty' tOe ma-
tUft. serially· over a period of
yeatt notto:exeeèd 46 years
trom.. their.for; the purpose
fi . '. bent pùblic
t'O- wit: .còn-
.. impro~~s
d City, and ind·
e; and .
", 'under tl¡e prpvi-
of ·'\Artide .' .117k~2,
. City Çquøcil is
. , . iiSUe: and
aný price or .
'to bear· intel'eSt at
ràteumt shaU be'
" '.the'. disere-
. . bødy;
->,., -- -_"··<__""~~"·_"_~"._.,_"~__~._,_".,._""..,,_"ù,"_.__>.,,"___________~".____._."._,_
'~.i" ....lie
DOlLARS .ørtanet of' this ìneMure
($ ), in laWf~ mon,.oftlte aßdtþe faet that iti~to the
United States of Ameri<:a.~ "'~". .... ,~tbeCity to
sum being months' ¡mere$! ~~,.<~. ...fôr . t~ street
due that. day .Qn"CITY .. QItt. ùn"ìoV~seontanplated at
NORTH. RICHLANÐi JfíJ;.~,· tbeèa1'liestþossibledate con-
TEXAS, .. STREET IMPROVE- stitute.andereate an an~gen-
MENTBPNf;), ~IU~S 1$71," CYandan~ piJbIic he-
dated· Jûly 10; 19f1. . Bond ce~y,reqllirù'ìtthlit., rule
No... ......... ........... . providfns for ordinanc:_tøbe
City SeCretary re.ad . more than one ttme or at
l\dayor more than one 'meeting ci tbe
SECTION 8:'f')¡atthefól1ow· City COUÐCilbe$QSp'en<Jed, and
ing' eertificate $1).~1 þeprinted requiri~ tbEat.. .tñis . orclnanee _
on the b~k of e.ach bond: by nAGeed and take effect as
OFFICF10F COMPTROtLER).. 'an ~erlencym~.ûre, and
REGISTE:ff.NO. ) an)'sucb rU!~ or p~ns
STATSOFTEXAS ,)', are accordingiysuspended and
I HEREBYCEJt~~ ·that. thisordinance.iSpassed as an
there ison:fije and ofr~rdin . ~erøncymeasure, and Iball
my cifice a,certificate.pf the. .... take effect I1nctbe in fWl force
AttorneyGMeral pf~heState, from@datter jtspassap.
of T_~JQtheeffédthat this· PASSEl)' AND APPROVED,
bond has been exAA1inedbYi tms theJ4tb4åyciJune, 1"1.
him asreqlliredby lliW' and.r ...... '..·s-Manon L. Massey
that he finds that it hAl$been ¡ ". . Mayor,
issued In confO~y>M'ith.the j . ÇityofNorthRi<:b1aad
Constitution and 18W'sof.the'~ .., .... ....... .... > HiUs, Texas
State of· Texas, and t~atit is. a ~..A'r~St:
· Note fA> printer: · 'l11e~e~. ';. t·~ ~velyn R. HustQn
::: ~~~:=:~~Jgl~~e¡;:rmchl~
January 10, 1.7AAds'!bøe-~Hil1s!Texas
quent.p~ning fA>optiónalp:CitySe~) .... ...
bondsJ1J8turingirt..vear f. . ',. ArßlPVEDAS 1'0
1., through 1997. . ~ ". .. J..EGALITY :
. .. .... '. ... ':'"S"Detû1is Morrow
valid ·afid.'bindingoi)}j.iationI .' City Attorney,
upOn$l1id gtyofNqJ'th~. ~, '. '. -City of North
land .1:Iijls,'I'~]Ça$,and-said ~ liiebl_ Hilts, Texas
bond has this day been NIiS· ; MC Letal NO;_ .'
tered "" me. . PubtilhdJqly 2;,,1"1
WITNESS MY HAND.M'iD ¡
SEAL OF on'ICE at' Auatin, '
Texas, .
. . Comptroller of
Public Accounts of
the State of Texas
SECTION 9: That, to provide.
for thepaym. of the d~
service reqúiritnénts on the .
said bonds. being (i) the inter-
est on ,said bonds and (Ii) a
sinking fund for their red,EØlp"
tion at maturity or a siAkf~'
fund of 2 per cent (whi,che\fer:
amount shall be gré '
shall be . . .
levied før
èaèh suò
erw
ther
in(
on,
v
in·
%¡-,