O65-07CITY OF KENNEDALE, TEXAS,
ORDINANCE NO. 65-7
ORDINANCE AMENDING AN ORDINANCE PASSED MAY 27TH,
1965, AUTHORIZING THE ISSUANCE OF BONDS
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF KENNEDALE
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WHEREAS, Ordinance No. 65-4 of the City of Kennedale
was passed on May 27, 1965, authorizing the issuance of "City
of Kennedale, Texas, Water and Sewer Revenue Bonds, Series 1965";
and
WHEREAS, said Ordinance No. 65-4 should be amended.
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
KENNEDALE:
Section 1. Section 10 of Ordinance No. 65-4, passed
by the City Council of the City of Kennedale, Texas, on May 27,
1965, authorizing the issuance of "City of Kennedale, Texas,
Water and Sewer Revenue Bonds, Series 1965", is hereby amended
o read as follows:
"Section 10. That, in addition to all other amounts
required by the ordinance authorizing the Outstanding Bonds,
there shall be deposited into the Reserve Fund, created for
the benefit of said Outstanding Bonds and all Additional
Bonds, on or before the 15th day of each month hereafter,
the sum of at least $27.35 until the aggregate amount of
$16,040.60 shall have been accumulated in said Reserve Fund.
"In addition to the foregoing deposits, on July 15,
1965, there shall be deposited in a special sinking fund,
which is hereby established, to be called the 'City of
Kennedale Water and Sewer Revenue Bonds, Series 1960,
Special Sinking Fund',the amount of $648.00, and on the
15th day of each month thereafter there shall be
deposited into said Special Sinking Fund the amount of
$216.00, until the sum of $65,000.00 has been accumu-
lated therein. Said Special Sinking Fund shall be
maintained at Mercantile National Bank at Dallas, Dallas,
Texas, as Trustee for said Special Sinking Fund. Said
Special Sinking Fund shall be maintained for the payment
of the bonds maturing on September 1, 1990, of City of
Kennedale Water and Sewer Revenue Bonds, Series 1960.
The money in said Special Sinking Fund may be invested
in direct obligations of the United States of America,
which are glue on or before September 1, 1990, or the
money in said fund may be used to pay, prior to maturity,
any outstanding bonds of City of Kennedale Water and
Sewer Revenue Bonds, Series 1960, which may mature on
September 1, 1990."
ADOPTED AND APPROVED this 8th day of July, 1965.
APPROVED:
B. T. Webb, Mayor, City of Kenne-
dale, Texas