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O62-09THE STATE OF TEXAS COUNTY OF TARRANT CITY OF KENNEDALE On this the 4th day of October, 1962, the City Council of City of Kennedale, Texas, convened in Special Meeting, with the following members present, to -wit: Norman T. Childres, -qv-Es—Harper, Steve Radakovich, John E. Hammack, Wesley C. Horton, Roy G. Vick, Mrs.S.UsieA. Langford, Mayor, Aldermen, City Secretary, and with the following absent: J. E. Harper constituting a quorum of the City Council, at which time the following proceedings were had: Alderman Hammack the 5 introduced an ordinance and made a motion that it be passed. The motion was seconded by Alderman Radakovich . The motion carrying with it the passage of the ordinance prevailed by the follow- ing vote: AYES: All Aldermen present voted "Aye." NOES: None. The ordinance as passed is as follows: AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF 1 miALE, TEXAS, PROVIDING FOR THE ISSUANCE OF CITY OF KENNEDALE, TEXAS, m or, OBLIGATION BONDS, SERIES 1962, IN THE -AGGREGATE PRINCIPAL AMOUNT OF 530,000.00. heretofore on the 23rd day of February, 1959, the Council of the City of Kennedale, Texas, adopted a resolution calling an election to be held in said City on the 21st day of March, 1959, on the following proposition: Dr Kennedale, Texas, on the 21st day of March, 1959, at which election a majority, :or said election was duly and lega3ly held in the City of of the legplly qualified electors, owning taxable property in said. City and who had duly rendered the same for taxation, voting at said election, sus- tained the proposition to issue the bonds hereinafter described by the following vote: PROPOSITION NO. 4 "FOR ihh ISSUANCE OF SEWER SYSTEM TAX BONDS" 87 Votes; "AGAINST THE ISSUANCE OF SEWER SYSTEM TAX BONDS" 24 Votes; as is reflected in the election returns heretofore filed with the City Secretary; and : the City Council has heretofore authorized and issued PROPOSITION NO. 4 "Sba11 the City Council of the City of Kennedale, Texas, be authorized to issue the bonds of said City in the amount of $150,000.00, maturing serially in such installments as may be fixed by the City Council, the maximum maturity date being not more than Forty (4o) years from their date, and bearing interest at a rate not to exceed. Six per cent (6%) per annum, and to levy a tax sufficient to pay the interest as it accrues and principal as it matures on said issue of bonds, for the purpose of con- structing a Sewer System for said. City, as authorized by the Constitution and -laws of the State of Texas." City of Kennedale General Obligation Bonds, Series 1960, in the amount of $80,000.00; and the City Council now deems it advisable and to the BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF KENNEDALE, TEXAS: 1. That the bonds of said. City to be called nCity of Kennedale, Texas, General Obligation Bonds, Series 1962" be issued under and by virtue of the Constitution and laws of the State of Texas, for the purpose of con- structing a Sewer System for said City, in the principal amount of Thirty : best interest of the City that an additional $30,000.00 of the above voted bonds be issued at this time; Thousand. Dollars ($30,000.00). 2. That said bonds sharl be numbered 0ne (1) to Thirty (30), both inclusive, of the denomination of 0ne Thousand Dollars ($1,000.00) each, aggregating Thirty Thousand Dollars ($30,000.00). 3. That said bonds shall be dated November 1, 1962, and shall become due and payable serially as follows: 1 to 10, both inclusive, 11 to 20, " `s 21 to 30, " " MATURITY DATES AMOUNTS May 1, 1998 May 1, 1999 May 1, 2000 $ 10,000.00 10,000.00 10,000.00 The City reserves the option of calling each such bond for redemption prior to maturity on any interest payment date on and after November 1, 1982, at par and accrued interest to date so fixed for redemption. Thirty days' notice of such call shall be given in writing to the bank of payment. If any such bond is called for redemption in said manner and if funds sufficient to pay the redemption price shall have been duly placed in the bank of payment by the date fixed for redemption, it shall not thereafter bear interest. 4. That said bonds shall bear interest at the rate of Five an one-half per cent (5-1/2%) per annum, evidenced by coupons payable May 1, 1963, and semi-annuAJly thereafter on November 1 and May 1 of each year. 5. That the principal of and interest on said bonds shall be payable upon presentation and surrender of bond or proper coupon at the Mercantile National Bank at Dallas, Dallas, Texas, without exchange or col- lection charges to the owner or holder thereof. 6. That each of said bonds and interest coupons shall be signed by the imprinted or lithographed facsimile signature of the Mayor of the City and countersigned by the imprinted or lithographed facsimile signature of the City Secretary, and the official seal of the City shall be impressed, or printed, or lithographed on each of said bonds. 7. The form of said bonds shall be substantially as follows: NO. $ 1,000.00 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF CITY OF KENNEDALE GENERAL OBLIGATION BOND SERIES 1962 The City of Kennedale, in the County of Tarrant, State of Texas a municipal corporation duly incorporated under the laws of the State of Texas;, for value received, hereby promises to pay to bearer hereof on the 1st day of May, , the sum of ONE THOUSAND DOLLARS in lawful money of the United. States of America, with interest thereon from date hereof at the rate of Five and one-half per cent (5-1/2%) per annum, evi- denced by coupons payable May 1, 1963, and semi-annually thereafter on November 1 and. May 1 of each year, principal and interest payable upon pre- sentation and surrender of bond or proper coupon at the Mercantile National Bank at Dallas, Dallas, Texas, without exchange or collection charges to the owner or holder hereof, and the City of Kennedale, Texas, is hereby held and firmly bound and its faith and credit and all taxable property in said. City are hereby pledged for the prompt payment of the principal of this bond at maturity and the interest thereon as it accrues. This bond is one of a series of bonds of like tenor and effect, except as to number and maturity, numbered from One (1) to Thirty (30), both inclusive, of the denomination of One Thousand Dollars ($1,000.00) each, aggregating Thirty Thousand Dollars ($30,000.00), issued for the purpose of constructing a Sewer System for said. City, as authorized by 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, which ordinance is duly of record in the minutes of said. City Council. The City reserves the option of calling this bond for redemption prior to maturity on any interest payment date on and after November 1, 1982, at par and accrued interest, provided thirty days' notice of such call is given in writing to the bank of payment. If such bond is called for redemption in said manner and if funds sufficient to pay the redemption price shall have been duly placed in the bank of payment by the date fixed for redemtion, it shall not thereafter bear interest. The date of this bond, in conformity with the ordinance above mentioned, is November 1, 1962, AND IT IS HEREBY CERTIFIED AND RECITED that the issuance of this bond, and the series of which it is a part, is duly authorized by law and by a vote of the resident, qualified electors who own taxable property in said. City and who had duly rendered the same for taxation in the City of Kennedale, Texasi, voting at an election held for that purpose within said City; that A.J1 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 sufficient and proper provision for the levy and collection of taxes has been made which, when collected, shall be appropriated exclusively to the pay- ment of this bond, and to the series of which it is a part, and to the payment of the interest coupons hereto annexed as the same shall become due; and that the total indebtedness of said City of Kennedale, Texas, including the entire series of bonds of which this is one, does not exceed any constitutional or statutory limitation. 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, and the official seal of said. City has been duly impressed, or printed, or lithographed on this bond. COUNTERSIGNED: Mayor, City of Kennedale, Texas. City Secretary, City of Kennedale, Texas. NO. 8. The form of said coupons shall be substantially as follows: $ 27.50 ON THE 1ST DAY OF 119 The City& Kennedale, in the County of Tarrant, State of Texas, will pay to bearer, unless the bond to which this coupon is attached shall have been previously redeemed in accordance with its terms, at the Mercantile National Bank at Dpilas, Dallas, Texas, without exchange or collection charges to theowner or holder hereof, the sum of Twenty Seven and 50/100 Dollars ($27.50), in lawful money of the United States of America, being six months' interest due that day on "City of Kennedale, Texas, General Obligation Bond, Series 1962," dated November 1, 1962. Bond No. City Secretary Mayor 9. That substantially the following certificate shall be printed on the back of each bond: OFFICE OF COMPTROLLER STATE OF TEXAS I HEREBY CERTIFY that there is on file and of record in my office a certificate of the Attorney General of the State of Texas, to the effect that this bond has been examined by him as required by law, and that he finds that it has been issued in conformity with the Constitution and laws of the State of Texas, and that it is a valid and binding obligation upon said City of Kennedale, Texas, and said bond has this day been registered by me. WITNESS MY HAND and seal of office at Austin, Texas, Comptroller of Public Accounts of the State of Texas. 10. That a special fund to be designated "City of Kennedale, Texas, General Obligation Bonds, Series 1962 Fund" is hereby created and the proceeds from all taxes collected for and on account of this series of bonds 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 install- ment of principal as it becomes due, and said. Fund shall be used for no other purpose. For each year while any of said bonds or interest thereon are unpaid there shall be computed and ascertained, at the time other taxes are levied, the rate of tax based on the latest approved rolls of said. City as will be re- quite 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 two per cent (2%) of the principal as a sinking fund, which- ever is greater, full allowances being made for delinquencies and costs of col lection. 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 whilesaid bonds or any of them are outstanding and unpaid, and the said tax each year shall be assessed and col- lected 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 bonds and for no other purpose. 11. That the Mayor of the City shall be authorized to take and have charge of all necessary records pertaining to the bonds pending investiga- tion by the Attorney General, and shall take and have charge and control of the' bonds herein authorized pending their approval by the Attorney General and re- gistration by the Comptroller of Public Accounts. Upon registration of said bonds, the Comptroller of Public Accounts (or a deputy designated in writing to act for the Comptroller) shall manually sign the Comptroller's certificate of registration prescribed herein to be printed on the back of each bond, and the seal of the Comptroller shall be impressed, or printed, or lithographed on each of said bonds. 12. The Thirty Thousand Dollars (S30,000.00) of bonds authorize by this ordinance are hereby awarded to, and shall be sold and delivered to Frank B. McMahon & Coiupany, Inc., Dallas, Texas, for the price of par and accrued interest to date of delivery. 13. All ordinances and resolutions, and parts thereof in conflict herewith are hereby expressly repealed insofar as they conflict herewith. PASSED AND APPROVED this the L( day of October, 1962. Mayor, City of Kennedale, Texas. City Secretary, City of Ke 0 THE STATE OF TEXAS COUNTY OF TARRANT CITY OF KENNEDALE I, the undersigned, City Secretary of the City of Kennedale, Texas, do hereby certify that the above and foregoing is a true and correct copy of an ordinance passed by the City Council of said. City (and of the minutes pertaining thereto) on the L. day of October, 1962, authorizing the issuance of $30,000.00 of City of Kennedale, Texas, General Obligation Bonds, Series 1962, which ordinance is duly of record in the minutes of said City Council. EXECUTED UNDER MY HAND AND SEAL OF SAID CITY, this the day of October, 1962. City Secretary, City of Texas. THIS IS TO ordinance on the 4th constructing a Sewer System for said City, Office of ATTORNEY GENERAL of State of Texas • City of CERTIFY, That the General Kennedale Obligation Bonds passed by the day of Series 1962 City Council . October, 1962 dated November 1, 1962 ' ; 'numbered consecutively from for the sum of each, aggregating the sum of payable at the Mercantile as follows: One Thousand (1,000) issued by virtue of an of said for the purpose of 30 city inclusive, DOLLARS Thirty Thousand (30,000); DOLLARS National Bank at Dallas., Dallas, Texas,, serially $10,000 on May 1st in each of the (The City reserving the option of prior to maturity on any interest 1982, at par and accrued interest years 1998 to 2000, both inclusive; calling each such bond for. redemption payment date on and after November 1, to date so fixed for redemption, Etc,) with interest at the rate of 5-1/2 per cent per annum, payable May 1, 1963, and Semi-annually thereafter on November 1 and May 1 of each year, have been submitted to me for examination in accordance with the requirements of the statutes of Texas and I have carefully examined said bonds in connection with the facts and the Constitution and laws on the subject of the execution of said bonds, and I find, as the result of a careful examination of the evidence submitted to me, including authenticated copies of the proceedings relating to and authorizing the issuance of said bonds, the following facts: 1. That the City of Kennedale was at the time of the passage of the ordinance above referred to legally incorporated. 2. That, as submitted to me, the certificate of taxable values based upon the assessments last approved by the issuer of said bonds certifies that the taxable values of said City amounted to $1,942,550.00. 3. That a sufficient tax on each hundred dollars valuation of taxable property in said was legally levied to pay interest on said bonds and to create a sinking fund to provide for their liquidation at maturity. 4. That the ordinance authorizing the issuance of said bonds is in proper form and was legally passed. 5. That said bonds are proper in form and in accordance with the ordinance authorizing their issuance. 6. This $30,000 of bonds constitutes the second installment of an authorized total of $150,000 voted at an election held on March 21, 1959 ($80,000 having previously been approved). City It is my judgment, and I so find, that all the requirements of the law under which said bonds were issued have been complied with; that said bonds were issued in conformity with the Constitution and laws of the State of Texas; and that they are valid and binding obligations upon the said City of Kennedale, County of Tarrant, IN TESTIMONY WHEREOF, I have hereunto signed my of my office in the City of Austin, Texas, this the l-St #6433 Book #32 • A66-947 day of. Texas. name offici nd caused to be im ssed hereon the seal NO VEMBER , 19. 62 Attorney G6<neral of the State of Texas.