O70-09-KENNEDALE ORDINANCE NO. 70-9
ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS
THE STATE OF TEXAS :
COUNTY OF TARRANT .
CITY OF KENNEDALE
WHEREAS, the bonds hereinafter authorized were duly
and favorably voted at an election held in said City on the 31st
day of January, 1970; and
WHEREAS, out of the bonds voted at said election, the
following previously have been issued and delivered:
$35,000 out of a voted total of $170,000, for'
the purpose of improving and extending
the Waterworks System of said City,
represented by the Bonds of Series 1970;
and
WHEREAS, the bonds hereinafter authorized are to be
issued and delivered pursuant to Vernon's Article 823; and
WHEREAS, it is hereby officially found and determined
that a case of emergency or urgent public necessity exists which
requires the holding of the meeting at which this Ordinance is
passed, such emergency or urgent public necessity being that the
proceeds from the proposed bonds are required as soon as possible
and without delay for necessary and urgently needed public im-
provements; and that said meeting was open to the public as re-
quired by law and public notice of the time, place, and purpose
of said meeting was given, all as required by Vernon's Ann. Civ.
St., Article 6252-17.
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF KENNEDALE, TEXAS:
Section 1. That said City's bonds, to be designated
the "City of Kennedale Waterworks System General Obligation
Bonds, Series 1970-A", are hereby authorized to be issued and
delivered in the principal amount of $135,000, for the purpose
of improving and extending the Waterworks System of said City.
Section 2. That said bonds shall be dated August 15,
1970, shall be in the denomination of $5,000 each, shall be num-
bered consecutively from 1 through 27, both inclusive, and shall
mature serially on February 15 of each of the years, and in the
amounts, as set forth in the following schedule:
YEARS AMOUNTS YEARS AMOUNTS
1979 $ 10,000 1985 $ 10,000
1980 10,000 1986 15,000
1981 10,000 1987 15,000
1982 10,000 1988 15,000
1983 10,000 1989 20,000
1984 10,000
Said bonds may be redeemed prior to their scheduled maturities,
at the option of said City, on the dates stated, and in the man-
ner indicated, in the FORM OF BOND set forth in this Ordinance.
Section 3. That the bonds scheduled to mature during
the years, respectively, set forth below, shall bear interest,
from their date, until maturity or redemption, at the following
rates, to -wit:
maturities 1979, 7-1/4 7 per annum,
maturities 1980 through 1989, 7-1/2 % per annum.
Said interest shall be evidenced by interest coupons which shall
appertain to said bonds,and which shall be payable on the dates
stated in the FORM OF BOND set forth in this Ordinance. -
Section 4. That said bonds and interest coupons shall
be payable, shall have the characteristics, and shall be signed
and executed (and said bonds haill be sealed), all as provided,
and in the manner indicated, in the FORM OF BOND set forth in
this Ordinance.
Section 5. 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
of said bonds, and the form of the aforesaid interest coupons
which shall appertain and be attached initially to each of said
bonds, shall be, respectively, substantially as follows:
(FORM OF BOND)
NO. $5,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF KENNEDALE WATERWORKS SYSTEM GENERAL OBLIGATION BOND
SERIES 1970-A
ON rEBRUARY 15, 19, THE CITY OF KENNEDALE, in the
County of Tarrant, State of Texas, promises to pay to bearer the
principal amount of
FIVE THOUSAND DOLLARS,
and to pay interest thereon, from the datehereof, at the rate of
7 per annum, evidenced by interest coupons payable on Febru
ary 15, 1971, and semi-annually thereafter on August 15 and Febru
ary 15 of each year while this bond is outstanding. The principa
of this bond and the interest coupons appertaining 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 Mercantile 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 bonds dated August 15,
1970, issued in the principal amount of $135,000, for the purpose
of improving and extending the Waterworks System of said City.
-2-
WITNESS WHEREOF, this bond and the interest coupons
hereto have been signed with the facsimile signature
of said City, and countersigned with the facsimile
the City Secretary of said City, and the official
City has been duly impressed, or placed in facsimile
BONDS OF SAID SERIES scheduled to mature on and after
February 15, 1986, may be redeemed prior to their scheduled matur
ities, at the option of said City, in whole or in part, on Febru-
ary 15, 1985, or on any interest payment date thereafter, for the
principal amount thereof and accrued interest thereon to the date
fixed for redemption. At least thirty days prior to the date
fixed for any such redemption said City shall cause a written
notice of such redemption to be published at least once in a
financial publication published in the City of New York, New
York. By the date fixed for any such redemption, due provision
shall be made with the paying agent for the payment of the bonds
which are to be so redeemed and accrued interest thereon to the
date fixed for redemption. If such written notice of redemption
is published 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 their scheduled maturi-
ties, and they shall not bear interest after the date fixed for
redemption, and they shall not be regarded as being outstanding
except for the purpose of being paid by the paying agent with
the funds so provided for such payment.
IT IS HEREBY certified, recited, and covenanted that
said bond has been duly and validly issued and delivered; that
all acts, conditions, and things required or proper to be per-
formed, exist, and be done precedent to or in the issuance and
delivery of this bond have been performed, existed, and been done
in accordance with law; that this bond is a general obligation of
aaid City, issued on the full faith and credit thereof; and that
annual ad valorem taxes sufficient to provide for the payment of
the interest on and princiapl of said bonds, as such interest
comes due and such principal matures, have been levied and order
ordered to be levied against all taxable property in said City,
and have been pledged irrevocably for such payment, within the
limit prescribed by law.
IN
appertaining
of the Mayor
signature of
seal of said
on his bond.
y Secretary,
ity of Kennedale, Texas. City of Kennedale, Texas.
(FORM OF COMPTROLLER'S REGISTRATION CERTIFICATE)
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO.
Mayor,
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.
WITNESS my signature and seal this
Comptroller of Public Accounts
of the State of Texas.
(FORM OF INTEREST COUPONS)
NO. $
ON 15, 19, THE CITY OF KENNEDALE, in the
County of Tarrant, State of Texas, promises to 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, unless due provision has been made for the re-
demption prior to maturity of the bond to which this interest
coupon appertains, upon presentation and surrender of this inter-
est coupon, at the Mercantile National Bank at Dallas, Dallas,
Texas, said amount being interest due that day on the bond, bear-
ing the number hereinafter designated, of that issue of CITY OF
KENNEDALE WATERWORKS SYSTEM GENERAL OBLIGATION BONDS, SERIES
1970-A, dated August 15, 1970. BOND N0.
City Secretary, Mayor,
City of Kennedale, Texas. City of Kennedale, Texas.
Section 6. That a special fund or account, to be
designated the "City of Kennedale Waterworks System General
Obligation Bonds, Series 1970-A, Interest and Sinking Fund",
is hereby created and shall be established and maintained by
said City at an official depository bank of said City. 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 ad valorem 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 a rate and amount of ad valorem tax 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
and maintain a sinking fund adequate to pay the principal of
said bonds as such principal matures (but never less than 2% of
the original principal amount of said bonds as a sinking fund
each year); and said tax shall be based on the latest approved
tax rolls of said City, with full allowance being made for tax
delinquencies and the cost of tax collelction. Said rate and
amount of ad valorem tax is hereby levied, and is hereby ordered
to be levied, against all taxable property in said City for each
year while any of said bonds or interest coupons appertaining
thereto are outstanding and unpaid; and said 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 sufficient to provide fo.r the payment of the
interest on and principal of said bonds, as such interest comes
due and such principal matures, are hereby pledged irrevocably
for such payment, within the limit prescribed by law.
Section 7. That the Mayor of said City is hereby
authorized to have control of said bonds and all necessary re-
cords 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 regis-
tration 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 Regis-
tration Certificate printed and endorsed on each of said bonds,
and the seal of said Comptroller shall be impressed, or placed
in facsimile, on each of said bonds.
section 8. That said bonds are hereby sold and shall
be delivered to DITTMAR & COMPANY, INC., for the principal amount
thereof and accrued interest thereon to the date of delivery.
Section 9. That the City covenants that the proceeds
from the sale of the bonds will be used as soon as practicable
for the purpose for which the bonds are issued, and will not be
invested in securities or other obligations except for the
temporary period pending such use. The City further covenants
that such proceeds will not be used directly or indirectly as to
to cause all or any part of the bonds to be or become "arbitrage
bonds" within the meaning of Section 103(d) of the Internal
Revenue Code of 1954, as amended.
ADOPTED AND_APEROVED_thia_1Qth._day of August, 1970.
A TTEST'j
(CITY SEAL)
APPROVED:
Bob Platt, Mayor, City of Kennedale
Texas
CERTIFICATE FOR
ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS
THE STATE OF TEXAS:
C OUN TY 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 10TH DAY OF AUGUST, 1970,
at the City Hall, and the roll was called of the duly constituted
officers and members of said City Council, to -wit:
Mrs. Jewel Boyd, Secretary
Charles Knotts
Homer P. Jenkins
J. H. Martin
Bob Platt, Mayor
A. L. Bulin (Mayor Pro Tempore)
John J. Biondi, Jr.
and all of said persons were present, except the following
absentees: �s ,
thus constituting a quorum. Whereupon, among other business,
the following was 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 ab-i-ie 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, fulland 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 theduly chosen, qualified and acting officers and members of
said City Council as indicated therein; that each of the officers
and members of said City Council was duly and sufficiently noti-
fied 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; and that said meeting was open
to the public as required by law and public notice of the time,
place and purpose of said meeting was given, all as required by
Vernon's Ann. Civ. St., Article 6252-17.
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 /6) day of
City Secretary
(SEAL)
Mayor
GENERAL CERTIFICATE
THE STATE OF TEXAS :
COUNTY OF TARRANT :
CITY OF KENNEDALE .
We, the undersigned, hereby officially certify that
we are the Mayor and City Secretary, respectively, of said City,
and we further certify as follows:
1. That the City of Kennedale, Texas, is duly incor-
porated, operating and existing under the general laws of the
State of Texas, having an Aldermanic form of government; and that
the provisions of Title 28, Revised Civil Statutes of Texas, 1925,
as amended, relating to cities and towns, including particularly
Chapters 1 through 10 thereof, are applicable to and have been
accepted or adopted by said City.
2. That no litigation or any nature has ever been
filed pertaining to, affecting, or contesting: (a) the election
which authorized the proposed "City of Kennedale Waterworks System
General Obligation Bonds, Series 1970-A, dated August 15, 1970,
in the principal amount of $135,000.00; (b) the issuance, delivery,
payment, security, or validity of said proposed bonds; (c) the
title of the present members and officers of the City Council of
said City to their respective offices, or (d) the validity of the
corporate existence, or the current Tax Rolls, of said City; and
that no litigation is pending pertaining to, affecting, or con-
testing the boundaries of said City.
3. That attached hereto, and marked "Exhibit A",
which shall be a part hereof for all purposes, is a true, full
and correct schedule and statement of the aforesaid proposed
bonds, and of the total presently outstanding bonded indebted-
ness of said City.
4. That the currently effective ad valorem Tax Rolls
of said City are those for the year 1969, being the most recently!
approved Tax Rolls of said City; that the City Council of said
City has caused the taxable property in said City to be assessed
as required by law; that the Board of Equalization of said City
has equalized and approved the valuation of taxable property in
,said City for said year; that the Tax Assessor of said City has
duly verified the aforesaid Tax Rolls, and said Board of Equali-
zation has finally approved the same; that the valuation of tax-
able property in said City for said year, according to the afore-
said Tax Rolls, as delivered to the City Secretary of said City,
and finally approved and recorded by the City Council of said
City, is $3,881,230.00.
SIGNED AND SEALED, this the/ 6 day ofaA4e, 1970.
City Secre ary /� ' Mayor
City of nedale, Texas.
(SEA
)
City of Kennedale, Texas.
"EXHIBIT A"
Waterworks System General Obligation Bonds, Series
1970-A, dated 8/15/70, to be outstanding in the prin-
cipal amount of $135,000, bearing interest, and matur-
ing as set forth in the Ordinance authorizing said
bonds.
Waterworks System General Obligation Bonds, Series
1952, dated 3/15/52, now outstanding in the principal
amount of $43,000, bearing interest, and maturing in
the amounts on March 15 of the years, as follows:
47: 2M-71/76; 3M-77/85; 4M-86.
Waterworks System General Obligation Bonds, Series
1955, dated 9/15/55, now outstanding in the principal
amountof $30,000, bearing interest, and maturing in
the amounts on March 15 of the years, as follows:
4-1/2%: 2M-72/86.
General Obligation Bonds, Series 1960, dated 3/1/60,
now outstanding in the principal amount of $80,000,
bearing interest, and maturing in the amounts on
March 1 of the years, as follows:
5-1/27: 5M-87/88; 5M-89/90; 7M-91/92; 8M-93/94; 9M-95/96.
General Obligation Bonds, Series 1962, dated 11/1/62,
now outstanding in the principal amount of $30,000,
bearing interest, and maturing in the amounts on
May 1 of the years, as follows:
5-1/2%: 10M-98/2000.
General Obligation Bonds, Series 1964, dated 7/10/64,
now outstanding in the principal amount of $25,000,
bearing interest, and maturing in the amounts on
July 10 of the years, as follows:
5%: 10M-2001; 15M-2002.
General Obligation Bonds, Series 1965, dated 5/1/65,
now outstanding in the principal amount of $15,000,
bearing interest, and maturing in the amounts on
May 1 of the years, as follows:
5-1/2%: 15M-2003.
Refunding Bonds, Series 1967, dated 4/1/67, now out-
standing in the principal amount of $23,000, bearing
interest, and maturing in the amounts on April 1 of
the years, as follows:
6%: 2M-73/82; 3M-83.
Waterworks System General Obligation Bonds, Serie
7/15/70, now outstanding in the principal amount
bearing interest, and maturing as the amounts on
of the years, as follows:
6-1/2%: 5M-72;
7%: 5M-73/78.
s 1970, dated
of $35,000,
July 15 of each