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O67-05CERTIFICATE FOR - ORDINANCE AUTHORIZING,THE ISSUANCE OF WARRANTS 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 sad City convened in MEETING ON THE DAY OF MARCH , . 1967, e City Hall, and the o 1 was called of the duly constitut- officers and members of said City Council, to -wit B. T. Webb, Mayor Don Lyon Cecil Lyon Bobby R. Vaughn Nettie O. Roberts, City Secretary and all of said person were Rresent, ex�e.t th- followii absentees thus cons %�tutina quorum. !�'�ereupon, .mong oth business, the following was transacted at said Meetings a written ORDINANCE AUTHORIZING THE ISSUANCE OF WARRANTS 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 Or- dinance; that the persons named in the above and foregoing para- graph 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 AND SEALED the day of March , 1967. ?": -&-Z-z,/ 72/ City Secretary Mayor KENNEDALE ORDINANCE NO. 67-5 ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF KENNEDALE INTEREST BEARING TINE WARRANTS WHEREAS, the City Council of the City of Kennedale, Texas, has heretofore determined that it is to the best interest of the City to construct improvements and extensions to the City's Waterworks and Sanitary Sewer Systems, to provide fire hydrants in and for said City, and to paint a 50,000 gallon elevated tank in and for said City; and WHEREAS, the City Council has heretofore, on the day of jajlit,n, 1967, passed an lordinance authorizing and directing the City Secretary to give Notice to Bidders for the purposes indicated herein, which notice is in words and figures as follows, to -wit: NOTICE TO BIDDERS OF CITY'S INTENTION TO LET A CONTRACT OR CONTRACTS FOR THE SUPERVISION, LABOR, MATERIALS AND SUPPLIES NECESSARY FOR THE CON- STRUCTION OF IMPROVEMENTS AND EXTENSIONS TO THE CITY'S WATERWORKS AND SANITARY SEWER SYSTEMS, AND PROVIDING FIRE HYDRANTS AND OF THE CITY'S INTENTION .TO DELIVER INTEREST BEARING TIME WARRANTS IN PAYMENT OF ALL. OR A PORTION OF THE COST THEREOF SEALED PROPOSALS addressed to the City of Kennedale, Texas, City Hall, will be received at the office of the City Secretary, in the City of Kennedale, Texas until 2:00 o'clock, P.M,, on the 20th day of February , 1967, for the furnishing of material for: 1. .For the materials and supplies for the construction of improvements and extensions to the City's Waterworks System not exceeding $6,900.00; 2. For the materials, and supplies for the construction of improvements and extensions to the City's Sanitary. Sewer System, not exceeding $3,800.00;, 3.. For providing fire hydrants in and for said City, at not exceeding $1,200.00; and 4. For the supervision, labor, materials and supplies necessary for painting 50,000 Gallon Elevated Tank in and for said City at not exceeding $3,800.00; in accordance with specifications therefor now on file in the office of the City Secretary, and at such time and place all such proposals will -be publicly opened and read. The successful bidder or bidders shall be required to enter into contract with the City of Kennedale, Texas, on the forms provided. A certified or cashier's check or an acceptable bid bond in an amount not less than five per cent (5%) of the total bid shall accompany each bid as a guarantee that if awarded the contract, the bidder will enter into contract with the City of Kennedale and furnish bond on the forms provided within ten (10) days after notice of award of contract to him. The successful bidder or bidders will be required to furnish a performance bond and a payment bond each in the amount of the contract, written by a responsible surety company authorized to do business in the State of Texas, and satisfactory to the City Council, as required by Article 5160, V.A.T.C.S., as amended by H.B. 344, passed by the 56th Legislature, Regular Session, 1959. Bidders are expected to inspect the site of the work and to inform themselves of all local conditions. Plans and Specifications covering the work to be done may be examined at the office of the City Secretary in the City Hall at Kennedale, Texas. Plans, Specifications and Bidding Documents may be secured at the office of Freese, Nichols and Endress, Consulting Engineers, 508 Throckmorton Building, Fort Worth, Texas, without deposit. Not less than the prevailing rate of per diem wages for work of similar character in the City of Kennedale, and County of, Tarrant, and not less than the general prevailing rate of per diem wages for legal holidays,`Saturdays, Sundays, and overtime work shall be paid to all laborers, workmen and mechanics em- ployed in said City and County on item 4 above. The City Council of the City of Kennedale has ascertained and here specifies such general prevailing rate of per diem wages, in said City and County to be as follows: Overtime shall be paid for at the rate of one and one- half (1-1/2) times the regular rates. Classification Rate Per Hour Painter, Brush Painter, Stage and Spray Sand Blasters Labor, Common $ 2.25 2.50 2.00 1.25 Contractor shall comply with all State laws applicable to such work. The above are minimum rates. Bidders shall base their bids on rates they expect to pay, if in excess of these listed. The Owner will not consider claims for extra payment to Con tractor on account of payment of wages higher than those specified. It is the intention of the City Council to issue the time warrants of the City of Kennedale for payment of a part or all of the contracts tobe made pursuant to this notice, and to pay part or all of the Engineer's fees. The maximum amount of time warrant indebtedness to be incurred for said purposes shall be $20,000, the maximum rate of interest such time warrants are to bear is 6% per annum, and the maximum maturity date thereof shall be 1985. The City has obtained a commitment from an investment company for the purchase of said warrants from the Contractor, so that said warrants shall be delivered'to the Contractor on approved estimates and the Contractor will immedi- ately deliver said warrants to said investment company and receive in cash the parvalue therefor. NO BID may be withdrawn within thirty (30) days after the date on which bids are opened. IN CASE of ambiguity or lack of clearness in stating the price in the bids, the City reserves the right to consider the most advantageous construction thereof, and to reject any or all bids, and to award a contract or contracts to that bidder or bidders who, in the opinion of the City Council, offers the pro- posal to the best interest of the City. The City may also waive formalities. W7T b4 Mayor, City of Kennedale, Texas WHEREAS, said notice has been duly published in the "Kennedale News", a newspaper published in the City of. Kennedale,. Texas, in its issues of February 2nd, 1967 and February 9th , 1967; and WHEREAS, no petition for a referendum election has been filed with the City Council as permitted under the, provisions of Chapter 163, Acts of the Regular Session of the Forty Second Legislature,,known as the "Bond and Warrant Law of 1931"; and WHEREAS, it is considered to be to the best interest of the City that said interest bearing time warrants be of even denominations in the amount of $1,000 each; and WHEREAS, the amounts of money for which the City will be indebted to various contractors for said purposes will be in varying amounts and in most instances the amounts will. not be in multiples of $1,000, and certificates evidencing undivided interest in said warrants should be delivered to such persons; and WHEREAS, such certificates, to the extent issued, should be assembled and held until the interest bearing time warrants of even denominations can be substituted by the City therefor with proper provisions for adjusting the credit balance occasioned by odd -amounts of the certificates and the even denomination of the warrants; and WHEREAS, Frank B. McMahon & Company, Inc., has. agreed to'purchase said warrants and said certificates from. the° owners thereof at the face amount' thereof upon delivery to it, and to hold said certificates until a sufficient amount thereof shall have been assembled to justify the delivery to it of said interest bearing time warrants in substitution thereof; THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF KENNEDALE: 1. That the warrants of the City of Kennedale, Texas, to be called "City of Kennedale Time Warrants, Series 1967", be issued under and by virtue of the Constitution and Laws of the State of Texas in the amount of $20,000, for the purpose ofacquiring materials and supplies for the construction of improvements and extensions to the City's Waterworks and Sewer Systems, for providing fire hydrants in and for said City, and for furnishing the supervision, labor, materials: and supplies necessary for painting a 50,000 gallon elevated tank in and for said City. 2. Said Warrants shall be numbered consecutively from 1 through, shall be in the denomination of $1,000 each,and shall become due and payable on January 15 of the years as follows: YEARS AMOUNTS YEARS AMOUNTS 1982 $ 5,000 1984 $ 5,000 1983 5,000 1985 5,000 3. That said warrants shall be dated January 15, 1967. 4. Said warrants shall bear interest from their date at the rate of 6% per annum, evidenced by coupons payable January 15-, 1968, and semi-annually thereafter on each July 15 and January .15. 5. That the principal of and interest on said warrants shall be payable in lawful money of the United States of America upon presentation and surrender of warrant or proper coupon at the Mercantile National Bank at Dallas, Dallas, Texas, without exchange or collection charges to the owner or holder thereof. 6. That each of said warrants shall be signed by the Mayor and countersigned by the City Secretary, and the seal of said City shall be impressed upon each of them. 7. That the facsimile signatures of the Mayor and City Secretary may be lithographed or printed on the coupons attached to said warrants, and said printed or lithographed signatures shall have the same effect as if they had been executed manually by said officers. 8. The form of warrants shall be substantially as follows: NO. $1,000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF TARRANT CITY OF KENNEDALE TIME WARRANT SERIES 1967 The City of Kennedale, in the County of Tarrant, State of Texas, acknowledges itself indebted to, and promises to pay to the bearer hereof on the 15th day of January, 19 , the sum of ONE THOUSAND DOLLARS in lawful money of the United States of America, with interest thereon from the date hereof at the rate of 6% per annum, evidenced by coupons payable January 15, 1968, and semi-annually thereafter on July 15 and January 15 of each year, and the City Treasurer is hereby authorized, ordered and directed to pay to bearer said principal sum together with interest thereon evidenced by coupons hereto attache'd, both principal and interest payable at the Mercantile National Bank at Dallas, Dallas, Texas, without exchange or collection charges to the owner or holder hereof. The full faith and credit of the City of Kennedale,. Texas, and all of the taxable property in said City are hereby irrevocably pledged for the prompt payment of the principal of this warrant,at maturity and the interest thereon as it accrues. This warrant is one of a series of 20 warrants of like tenor and effect, except as to number and maturity, numbered consecutively from 1 through 20, of the denomina- tion of $1,000 each, aggregating $20,000, issued for the purpose of acquiring materials and supplies for the construc- tion of improvements and extensions to the City`s Waterworks and Sewer Systems, for providing fire hydrants in and for said City, and for furnishing the supervision,. labor, materials and supplies necessary for painting a 50,000 gallon elevated tank in and for said City, under and by virtue of the Constitution and laws of the State of Texas, and pursuant to an ordinance passed by the City Council of the City of Kennedale, Texas, duly recorded in the minutes of said City The date of this warrant in conformity with the ordinance above mentioned is the 15th day of January, 1967. AND IT IS HEREBY CERTIFIED AND RECITED that the issuance of this warrant and the series of which it is a part is duly authorized by law and that all acts, conditions and things required to be done precedent to and in the issuance of this series of warrants and done and performed and have form and manner as required Kennedale has received full provision has been made for of this warrant have been properly happened in regular and due time, by law, and that the City of • value for this warrant; that due, levying and collecting annually by taxation an amount sufficient to pay the interest on these, warrants as it falls due and to provide a sinking fund for the final redemption of said warrants at maturity; that the issue of warrants of which this is one, together with all indebtedness of said City is within every debt and other limit prescribed by the Constitution and laws of the State of Texas. IN WITNESS WHEREOF, the City of Kennedale, by its City Council, has caused the seal of said City to be hereto affixed and this warrant to be signed by its Mayor and counter- signed by its City Secretary, as of the 15th day of January, 1967. Mayor, City of Kennedale, Texas COUNTERSIGNED:. City Secretary, City of Kennedale, Texas follows: NO. The form of coupon shall be substantially as. ON THE 15TH DAY OF , 19 The City Treasurer of the City of Kennedale, Texas, will pay to bearer the amount shown on this interest 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 warrant, bearing the number hereinafter desig- nated, of that issue of City of Kennedale Time Warrants, Series 1967, dated January 15, 1967. No. City Secretary Mayor 10. Said warrants, in the authorized amount of $20,000, shall be printed, and with the printed or lithographed coupons attached, shall be executed by the Mayor and counter- signed by the City Secretary. The warrants thus executed shall be placed in the custody of the City Secretary and shall be delivered in installments, as. and when and in the amount neces- sary from time to time, to contractors and persons furnishing labor, services, material and equipment, or to assignees of such contractors and persons. Under no circumstances shall any of said warrants be delivered by the City except for the for which they are authorized., A finding by the City that a specific item of indebtedness was incurred for purposes Council a purpose for which said warrants are authorized shall be conclusive when contained in an ordinance passed by the City Council. 11. After claims and estimates shall have been approvedby the City Council for any purpose for which said warrants are authorized, the Mayor and City Secretary shall issue and deliver to each claimant an amount of warrants not exceeding the amount of the covered by such delivery of tially the following form: Claim No. claim, and, for any amount not warrants, a certificate in substan- This is to certify that the City Council $ of the City of Kennedale, Texas, at a meeting held on audited, approved and allowed a claim in favor of , for furnished in acquiring mater- ials and supplies for the constructiOfl of improvements and exten- sions to the City's Waterworks and Sewer. Systems, providing fire hydrants .in: and;_ for::.said City, and for, furnishing; materials and supplies necessary for painting..;a 50,000 gallon elevated tank in and. for . said City, for which . the: City.:has.. authorized the issuance of 'City of Kennedale Time Warrants., Series 1967", dated January 15, 1967; that the amount of said claim which is in excess of warrants delivered therefor is $ and that said claimant owns that amount of an undivided interest in said warrants not heretofore delivered. ISSUED (SEAL) 19 Mayor City Secretary 12. As and when said certificates shall have been accumulated from time to time, in amounts not less than $1,000,. and when requested by the holder of said certificates, the City Council will pass an ordinance describing said certificates and authorizing the delivery of said interest bearing time warrants in an amount not exceeding the amount of the accumulated certificates, specifying by numbers the time warrants to be delivered in exchange for said certificates. Credit balances may be carried in favor. -of said holder for succeeding installment deliveries. On the occasion of the final installment delivery the City shall make cash adjustment with said holder out of funds available therefor. 13. On the certificates, both the occasion of each exchange of warrants for. City and the holder shall execute receipts, each in -favor of the other, to show the surrender to the City and the receipt therefor of said certificates and the delivery by the City and receipt therefor of said warrants. 14. That.a special fund to be designated "City of Kennedale Time Warrants, Series.1967 Fund" is hereby created and the proceeds from all taxes collected for and on account of this series of warrants shall be credited to said fund for the purpose of paying the interest as it accrues and to provide a sinking fund for the purpose of paying each installment of prin- cipal as it becomes due, and said fund shall be used for no other purpose. For each year while any of said warrants or interest thereon are unpaid, there shall be computed and ascer- tained, at the time other taxes are levied, the rate of tax based on the latest approved rolls of said City as will be requisite and sufficient to make, raise and produce in each of said years a fund to pay the interest as it accrues and to pay the principal as it matures, or to provide at least 2% of the principal as a sinking fund, whichever is greater, full allow- ances being made for delinquencies and costs of collection. A tax at the rate as hereinabove determined is ordered to be levied and is hereby levied against all of the taxable property in said City for the current year and for each year hereafter while said warrants or any of than are outstanding and unpaid, the said tax each year shall be assessed and collected and placed in the fund hereby created and the Treasurer shall honor warrants against said fund for the purpose of paying the interest on and principal of said warrants and for no other purpose. 15. The assignees of said claims and the holders of said warrants are hereby subrogated to all rights which the persons tojwhom the original certificates and warrants were issued had against the City of Kennedale, and the assignment or sale of said certificates shall, without specific mention thereof, include all such rights. 16. The Mayor and City Secretary are hereby ordered to do any and all things necessary to accomplish the transfer of said moneys to the interest and sinking fund of this issue in ample time to pay such items of principal and interest.