O67-09CERTIFICATE, FOR
ORDINANCE AUTI3.ORIZING,THE ISSUANCE OF WARRANTS
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF KENNEDALE
We, the undersigned officers of said City, hereby
follows:
1. The City Council of said City convened in
SPECIAL MEETING ON THE 12TH DAY OF APRIL , 1967,
at the City Hall, and the roll was called of the duly constitut-
ed officers and members of said City Council, to -wit:
B. T. Webb, Mayor
Don Lyon
Cecil Lyon
Bobby R. Vaughn
certify as
Nettie 0. Roberts, City
John J. Biondi, Jr.
Mrs. Evelyn Blissard
and all of said ersons were present, ex
absentees: l�
thus constituting a qu um, Whereupon, among of
the following was transacted at said Meeting 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
shown present above
NOES: None.
2, That a true, full, and
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 theofficers 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
said Meeting, and each of said officers and members
in advance, to the holding of said Meeting for such
Secretary
passage at
consented,
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_
ept the
City Council
voted "Aye."
ollowing
r business,
correct copy of the aforesaid
SIGNED -AND SEALED the 12th day of
(SEAL)
April , 1967.
ifdee,2s�~
City' Secretary Mayor
KENNEDALE ORDINANCE N0, 67-9
ORDINANCE AUTHORIZING THE ISSUANCE OF CITY
OF KENNEDALE INTEREST BEARING TIME 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 System; and
WHEREAS, the City Council has heretofore, on the.
l6th day of March
, 1967, passed an ordinance authorizing
and directing the City Secretary to give Notice to Bidders for
the purpose 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 SUPPLIES NECESSARY
FOR THE EXTENSIONS TO THE CITY'S WATERWORKS
SYSTEM,. 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 6th day of April, 1967, for the furnishing of
material for:
The materials and supplies for the construction
of improvements and extensions to the City's
Waterworks. System not exceeding $13,000.
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.
Bidders are expected to inspect the site.
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.
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 to be 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 $15,000, the'maximum rate of interest such
time warrants are to bear is 6% per annum, and the maximum
maturity date thereof shall be 1988. 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 immediately deliver said warrants to said
investment company and receive in cash the par value 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 proposal to the best interest of the City. The
City may also waive formalities.
/s/ B. T. Webb
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 March 23 , 1967, and
March 30 , 1967; and
WHEREAS, no petition for a referendum election has
been filed with the City Council as permitted under the pro-
visions of Chapter 163, Acts of the Regular Session of the
Forty Second Legislature, known as the "Bond and Warrant Law
of 1931";
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-A", be
issued under and by virtue of the Constitution and Laws of the
$15,000,
State of Texas in the amount of $Y2TV, for the purpose of ac-
quiring materials and supplies for the construction of improve-
ments and extensions to the City's Waterworks System, in the sum of
12 b00, and for the purpose of paying engineering fees in the sum of
2,400 on sail prsaicd warrants shall be numbered consecutively from
1 through 16, shall be
and 16
Warrants NoQ ]/, in the
in the denomination of $1,000 each, except
and $400, respectively,
denominationsof $60Q; and shall become due
and payable on April 1 of the years, as follows:
YEARS AMOUNTS
1986
1987
1988
3. That said
$5,000
5,000
X $5,000.
warrants shall be dated April 1, 1967.
4. Said warrants shall bear interest from their
at the rate of 6% per annum, evidenced by coupons payable
April 1, 1968
April 1.
and semi-annuallythereafter on
date
each October 1 and
5. That the principal of and interest on said
warrants shallbe 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.
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF KENNEDALE
TIME WARRANT
SERIES 1967-A
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 1st day of April, 19, the
sum of
DOLLARS
in lawful money of the United States of America, with interest
thereon from the date hereof at the rate of 67 per annum,
evidenced by coupons payable April 1, 1968, and semi-annually
thereafter on October 1 and April 1 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 attached, 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 16 warrants
of like tenor and effect, except as to number, denomination and
maturity, numbered consecutively from 1 through 16, of the
15 and 16,
denomination of $1,000 each, except WarrantsNcs. 10C of the
and $400 respectively, $15,000,
denominationsof $609', aggregating $10000, issued for the
purpose of acquiring materials and supplies for the construction
of improvements and extensions to the City's Waterworks System, and
paying the engineering fees on said project,
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 Council.
The date of this warrant in conformity with the
-ordinance above mentioned is the 1st day of April, 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 of this warrant have been properly
done and performed and have happened in regular and due time,
form and manner as required by law, and that the City of
Kennedale has received full value for this warrant; that due
provision has been made for 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 1st day of April,
1967.
Mayor, City of Kennedale, Texas
COUNTERSIGNED:..
City Secretary, City of Kennedale,
Texas
follows:
NO.
9. The form of coupon shall be substantially as
ON THE 1ST 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-A, dated ,April 1, 1967. No.
City Secretary Mayor
10. Said warrants, in the authorized amount of
$15,000..
V@, 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 the contractor.furnishing material
and to the engineers on said project or engineers.
and suppli4, or ,to assignees of such contracto/. Under no
circumstances shall any of said warrants be delivered by the City
except for the purposes for which they are authorized. A finding
by the City Council that a specific item of indebtedness was
incurred for 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
approved by 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 claim.
12. That a special fund to be designated "City of
Kennedale Time Warrants, Series 1967-A Fund" is hereby created
and the proceeds from all taxes collected for and on accountof
this series o•f 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 principalas:it becomes due, and said fund shall be used
for no other purpose., :For each year while any of said warrants
or interest thereon
ascertained, at the
,are unpaid,'there shall be computed and._:
timeother taxe,s.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
the principal as it matures,
principal as a sinking fund,
interest as it accrues and to pay
or to provide at least 2% f.the.,
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 b
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 them 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 ofsaid warrants and for no other purpose.
13. .The assignees of said claims and the holders of
said warrants are hereby subrogated to all rights which the
persons to whom.the original warrants were issued had against
the City of Kennedale.
14. 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.
•