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O67-15CERTIFICATE FOR BOND ORDINANCE. THE STATE OF TEXAS : COUNTY OF TARRANT CITY OF KENNEDALE . We, the undersigned officers of said City, hereby certify as follows: 1. The City Council of said City convened in SPECIAL MEETING ON THE 7TH DAY OF AUGUST, 1967, at the City Hall, and the roll was called of the duly constituted officers and members of said City Council, -to -wit: Wesley Horton, Mayor Don Lyon Bobby, R. and all of absentees: thus constit following was id Mrs. Jewel Boyd, City Secretary H. L. Hatton John Biondi --2 rsowre present, f+except the following ing a quorum. Whereupc(gi, among other business, the transacted at said Meeting: a written ORDINANCE 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 fore- going paragraph is attached to and follows this Certificate; that said Ordinance has been duly recorded in said City Council's minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from said City Council's minutes of said Meeting pertaining to the passage of said Ordi- nance; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of said City Council as indicated therein; and that each of the officers and members of said City Council was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that said Ordinance would be introduced 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. 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 signed said Ordinance; and that the Mayor and the City Secretary of said City hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of said Ordinance for all purposes. SIGNED ANR SE City Secreta (SEAL) ED the 7th day of August, 1967. May r ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS THE STATE OF TEXAS COUNTY OF TARRANT • • CITY OF KENNEDALE WHEREAS, heretofore on the 16th day of March, 1967, the City Council of the City of Kennedale, Texas, passed an ordinance authorizing the issuance of $20,000 of City of Kennedale Time Warrants, Series 1967, dated January 15, 1967, bearing interest at the rate of 6% per annum; and WHEREAS, heretofore on the 12th day of April, 1967, the City Council of said City passed an ordinance authorizing the issuance of $15,000 of City of Kennedale Time Warrants, Series 1967-A, dated April 1, 1967, bearing interest at the rate of 6% per annum; and WHEREAS, $9,000 of said Series 1967 Warrants and $14,000 of said Series 1967-A Warrants have been delivered and the City has received full value therefor; and WHEREAS, said Warrants, in the aggregate amount of $23,000, are now outstanding; and WHEREAS, on the 29th day of June, 1967, the City Council of the City of Kennedale, Texas passed an ordinance directing the giving of Notice of Intention to issue Refunding Bonds; and WHEREAS, said Notice was published as required by law; and WHEREAS, no Petition was filed by the property tax- paying voters of the City asking for a referendum on the question of issuing said bonds; and WHEREAS, it is to the best interest of the City and of its taxpayers to issue the Refunding Bonds as hereinafter set out; THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF KENNEDALE: Section 1. That said City's coupon bonds to be designated the "City of Kennedale Refunding Bonds, Series 1967" are hereby authorized to be issued and delivered in accordance with the Constitution and laws of the State of Texas in the principal amount of $23,000 for the purpose of refunding the Warrants described in the preamble of this ordinance. Section 2. That said bonds shall be dated April 1, 1967, shall be numbered consecutively from 1 through 23, shall be in the denomination of $1,000 each, and shall mature and become due and payable serially on April 1 in each of the years, and in the amounts, respectively, as set forth in the following schedule: YEARS AMOUNTS 1973 $2,000 1974 2,000 1975 2,000 1976 2,000 1977 2,000 1978 2,000 1979 2,000 1980 2,000 1981 2,000 1982. 2,000 1983 3,000 Section 3. That said bonds shall bear interest from their date, until maturity or redemption, at the rate of 6% per annum, with said interest to beevidenced by interest coupons payable on April 1, 1968, and semi-annually thereafter on each October 1 and April 1. Section 4. That as to said bonds scheduled to mature on and after April 1, 1978, said City shall have the right and option to redeem such bonds prior to their scheduled maturities, in whole, or in part, on October 1, 1977, or on any interest payment date thereafter, for the principal amount thereof plus accrued interest to the date fixed for redemption. At least thirty days before such redemption, the City shall cause redemption to be mailed to the paying the date fixed for any a written notice of such agent. By the date fixed for any such redemption, due provision shall be made paying agent for the payment of the principal amount with the of the bonds to be so redeemed, plus accrued interest thereon to the date fixed for redemption. If the written notice of redemption is mailed to the paying agent, and if due provision for payment is made, all as provided above, the bonds, which are to be so redeemed, thereby automatically shall be redeemed prior to maturity, and they shall not bear interest after the date fixed for redemption, and shall not be regarded as being outstanding except for the purpose of receiving the funds so provided for such payment. Section 5. That the principal of and interest on said bonds shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of proper bond or interest coupon, at the Mercantile National Bank at Dallas, Dallas, Texas, which place shall be the paying agent for said bonds. Section 6. That each of saidbonds and interest cou- pons shall be signed by the imprinted or lithographed facsimile signature imprinted Secretary of the Mayor of said City and countersigned by the or lithographed facsimile signature of the City of said City, and the official seal of said City shall be impressed, or printed, or lithographed on each of said bonds. Section 7. 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 endorsed on each bond, and the form of the interest coupons to be attached to said bonds, shall be, respectively, substantially as follows: (FORM OF BOND) NO. UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF TARRANT CITY OF KENNEDALE REFUNDING BOND SERIES 1967 $1, 000 On April 1, 19, the City of Kennedale, in the County of Tarrant, State of Texas, promises to pay to bearer the principal amount of ONE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of 67 per annum, evidenced by interest coupons payable April 1, 1968, and semi-annually thereafter on each October 1 and April 1 while this bond is outstanding. The principal of this bond and the interest coupons attached hereto shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this bond or proper interest coupon, at the Mercan- tile National Bank at Dallas, Dallas, Texas, which place shall be the paying agent for this Series of bonds. This bond is one of a Series of coupon bonds dated April 1, 1967, issued in the principal amount of $23,000 for the purpose of refunding outstanding Warrants of said City. The bonds of this Series scheduled to mature on and after April 1, 1978, may be redeemed prior to their scheduled maturities, in whole, or in part, at the option of said City, on October 1, 1977, or on any interest payment date thereafter, for the principal amount thereof plus accrued interest to the date fixed for redemption. At least thirty days before the date fixed for any such redemption the City shall cause a written notice of such redemption to be mailed to the paying agent. By the date fixed for any such redemption, due provision shall be made with the paying agent for the payment of the principal amount of the bonds to be redeemed, plus accrued interest there- on to the date fixed for redemption. If the written notice of redemption is mailed to the paying agent, and if due provision for such payment is made, all as provided above, the bonds, which are to be so redeemed, thereby automatically shall be redeemed prior to maturity, and they shall not bear interest after the date fixed for redemption, and shall not be regarded as being outstanding except for the purpose of receiving the funds so provided for such payment. In addition to all other rights, the holders of this Series of Bonds shall be subrogated to all pertinent and necessary rights of the holders of the obligations being re- funded thereby. It is hereby certified and recited that the issuance of this bond and the series of which -it is a part is duly auth- orized by law; 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 due provision has been made for levying and collecting annually by taxation an amount sufficient to pay the interest on these bonds as it falls due and to provide a sinking fund for the final redemption of said bonds at maturity; that the total indebtedness of said City, including the entire series of bonds of which this is one, is within every debt and other limit pre- scribed by the Constitution and laws of the State of Texas. In witness whereof, this bond and the interest coupons attached hereto have been signed by the imprinted or lithographed facsimile signature of the Mayor of said City and countersigned by the imprinted or lithographed facsimile signature of the City Secretary of said City, and the official seal of said City has been duly impressed, or printed, or lithographed on this bond. Mayor, City of Kennedale, Texas COUNTERSIGNED: City Secretary, City of Kennedale, Texas (FORM OF REGISTRATION CERTIFICATE) COMPTROLLERS REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this bond has been examined, certified as to validity, and approved by the Attorney General of the State of Texas; and that this bond has been registered by the Comptroller of Public Accounts of the State of Texas. NO. Witness my signature and seal this Comptroller of Public Accounts of the State of Texas (FORM OF INTEREST COUPON) On , 19the City of Kennedale, in the County of Tarrant, State of Texas, promises to pay to bearer, unless due provision has been made for the redemption prior to maturity of the bond to which this interest coupon is attached, the amount shown on this coupon, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this interest coupon, at the Mercantile National Bank at Dallas, Dallas, Texas, said amount being interest due that day on the bond, bearing the number hereinafter designated, of that issue of City of Kennedale Refunding Bonds, Series 1967, dated April 1, 1967. -`Bond No. City Secretary Mayor Section 8. That a special fund or account, to be designated the "City of Kennedale Refunding Bonds, Series 1967, Interest and Sinking Fund" is hereby created and shall be established and maintained by said City at its official deposi- tory bank. Said Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of said City, and- shall be used only for paying the interest on and principal of said bonds. All taxes levied and collected for and on account of said bonds shall be deposited, as collected, to the credit of said Interest and Sinking Fund. During each year while any of said bonds or interest coupons appertaining thereto are out- standing and unpaid, the City Council of said City shall compute and ascertain the rate and amount of ad valorem tax, based on the latest approved tax rolls of said City, with full allowances being made for tax delinquencies and costs of tax collections, which will be sufficient to raise and produce the money required to pay the interest on said bonds as such interest comes due, and to provide a sinking fund to pay the principal of such bonds as such principal matures, but never less than 2% of the original principal amount of said bonds as a sinking fund each year. Said rate and amount of ad valorem tax is hereby ordered to be levied and is hereby levied against all taxable property in said City for each year while any of said bonds or interest coupons apper- taining thereto are outstanding and unpaid, and said ad valorem tax shall be assessed and collected each such year and deposited to the credit of the aforesaid Interest and Sinking Fund. Said ad valorem taxes necessary to pay the interest on and principal of said bonds, as such interest comes due, and such principal matures, are hereby pledged irrevocably for such purpose, within the limit prescribed by law. Section 9. That the proper proportionate part of the interest and sinking fund originally established for the obligations being refunded, together with the proper proportion- ate part of all taxes heretofore levied and now in the process of collection for the benefit of said obligations being refunded, are hereby appropriated and shall be transferred immediately to the Series 1967 Interest and Sinking Fund created herein. Section 10. That in addition to all other rights, the holders of said bonds shall be subrogated to all pertinent and necessary rights of the holders of the obligations being re- funded thereby. Section 11. That the Mayor of said City 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 registra- tion 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. Section 12. That the Comptroller of Public Accounts of the State of Texas is hereby authorized and directed to deliver said bonds to the holder or holders of the obligations being refunded thereby, in exchange for, and upon surrender and cancellation of, a like principal amount of said obligations being so refunded, provided that all current and unmatured inter- est coupons are attached to each of said obligations surrendered for exchange. Said exchange may be made in one or in several installment deliveries. ACKNOWLEDGMENT OF NOTICE OF SPECIAL MEETING THE STATE OF TEXAS : COUNTY OF TARRANT • CITY OF KENNEDALE I, the undersigned, City Official of the City of Kennedale, Texas, hereby acknowledge and certify that I was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the Special Meeting of the City Council of said City held on the 7th day of August, 1967, and that an Ordinance Authorizing the Issuance of Bonds would be introduced and considered for passage at said Meeting, and that I consented, in advance, to the holding of said Meeting for such purpose. SIGNED this the day of August, 1967. fAoJ