O65-04KENNEDALE ORDINANCE NO. 65-4
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, as required by the Constitution and laws
of the State of Texas, at an election held in said City on the
21st day of March, 1959; and
WHEREAS, out of the bonds voted at said election,
the following previously have been issued and delivered:
$ 11,000 out of a voted total of $40,000
for the purpose of improving and
extending the City's Waterworks
System, represented by the bonds
of Series 1960; and
WHEREAS, the bonds hereinafter authorized are to be
issued and delivered pursuant to Vernon's Articles 1111 through
1118, as amended.
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
KENNEDALE:
Section 1. That said City's coupon bonds to be desig-
nated the "City of Kennedale, Texas, Water and Sewer Revenue
Bonds, Series 1965", are hereby authorized to be issued and de-
livered in accordance with the Constitution and laws of the Stat
of Texas in the principal amount of $29,000 for the purpose of
improving and extending the City's Waterworks System.
Section 2. That said bonds shall be dated March 1,
1965, shall be numbered consecutively from 1 through 9, shall be
in the denomination of $5,000 each, except Bonds Numbers 1
through 4, in the denomination of $1,000 each, and shall mature
and become due and payable serially on September 1 in each of
the years, and in the amounts, respectively, as set forth in the
following schedule:
YEARS AMOUNTS YEARS AMOUNTS
1991 $ 4,000 1994 $ 5,000
1992 5,000 1995 5,000
1993 5,000 1996 5,000
Section 3. That said City shall have the right
and option to redeem such bonds prior to their scheduled
maturities, in whole, or in part, on March 1, 1985, 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 published at least once in a financial publica-
tion 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 principal amount of the
bonds to be so redeemed, plus accrued interest thereon to the
date fixed for redemption. If the written notice of redemption
is published, 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 pur-
pose of receiving the funds so provided for such payment.
Section 4. That said bonds shall bear interest from
their date, until maturity or redemption, at the rate of 5-1/2%
per annum, with said interest to be evidenced by interest
coupons payable on September 1, 1965, and semi-annually there-
after on each March 1 and September 1.
Section 5. That the principal of
bonds shall be payable to bearer, in lawful
and interest on said
money of the United
States of America, without exchange or collection
the bearer, upon
interest coupon,
charges to
presentation and surrender of proper bond or
at the Mercantile National Bank at Dallas,
Dallas, Texas, which place shall be the paying agent for said
bonds.
Section 6. That each of said bonds and interest
coupons shall be signed by the imprinted or lithographed
KENNEDALE ORDINANCE NO. 65-4
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, as required by the Constitution and laws
of the State of Texas, at an election held in said City on the
21st day of March, 1959; and
WHEREAS, out of the bonds voted at said election,
the following previously have been issued and delivered:
$ 11,000 out of a voted total of $40,000
for the purpose of improving and
extending the City's Waterworks
System, represented by the bonds
of Series 1960; and
WHEREAS, the bonds hereinafter authorized are to be
issued and delivered pursuant to Vernon's Articles 1111 through
1118, as amended.
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
KENNEDALE:
Section 1. That said City's coupon bonds to be desig-
nated the "City of Kennedale, Texas, Water and Sewer Revenue
Bonds, Series 1965", are hereby authorized to be issued and de-
livered in accordance with the Constitution and laws of the State
of Texas in the principal amount of $29,000 for the purpose of
improving and extending the City's Waterworks System.
Section 2. That said bonds shall be dated March 1,
1965, shall be numbered consecutively from 1 through 9, shall be
in the denomination of $5,000 each, except Bonds Numbers 1
through 4, in the denomination of $1,000 each, and shall mature
and become due and payable serially on September 1 in each of
the years, and in the amounts, respectively,
following schedule:
YEARS AMOUNTS YEARS AMOUNTS
1991 $ 4,000 1994 $ 5,000
1992 5,000 1995 5,000
1993 5,000 1996 5,000
as set forth in
the
Section 3. That said City shall have the right
and option to redeem.. such bonds prior to their scheduled
maturities, in whole, or in part, on March 1, 1985, 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 published at least once in a financial publica-
tion 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 principal amount of the
bonds to be so redeemed, plus accrued interest thereon to the
date fixed for redemption. If the written notice of redemption
is published, 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 pur-
pose of receiving the funds so provided for such payment.
Section 4. That said bonds shall bear interest from
their date, until maturity or redemption, at the rate of 5-1/27
per annum, with said interest to be evidenced by interest
coupons payable on September 1, 1965, and semi-annually there-
after on each March 1 and September 1.
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 said bonds and interest
coupons shall be 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
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, TEXAS
WATER AND SEWER SYSTEM REVENUE BOND
SERIES 1965
On September 1, 19 , the City of Kennedale, in
the County of Tarrant, State of Texas, promises to pay to
bearer the principal amount of
DOLLARS
and to pay interest thereon, from the date hereof, at the rate
of 5-1/2% per annum, evidenced by interest coupons payable
September 1, 1965, and semi-annually thereafter on each March 1
and September 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 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 coupon
March 1, 1965, issued in the principal amount of
bonds dated
$29,000 for
the purpose of improving and extending the City' Waterworks
System.
The bonds of this Series may be redeemed prior to
their scheduled maturities, in whole, or in part; at the option
of said City, on March 1, 1985, or on any interest payment date
thereafter, for the principal amount thereof plus accrued inter-
est to the date fixed for redemption. At least thirty days be-
fore the date fixed for any such redemption the 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 principal amount of the bonds to be redeemed,
plus accrued interest thereon to the date fixed for redemption.
If the 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 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.
It is hereby certified and recited that this bond has
been duly and validly voted, authorized, issued, and delivered
in accordance with the Constitution and laws of the State of
Texas; and that the interest on and principal of this bond, and
the Series of which it is a part, together with other outstand-
ing waterworks and sewer system revenue bonds of said City, are
secured by and payable from a first lien on and pledge of the
Net Revenues of said City's Waterworks and Sewer System.
Said City has reserved the right, subject to the
restrictions stated, or adopted by reference, in the Ordinance
authorizing this Series of bonds, to issue additonal parity
revenue bonds which also may be secured by and made payable
from a first lien on and pledge of the Net Revenues of said
City's Waterworks and Sewer System.
The holder hereof shall never have the right to
demand payment of this obligation out of any funds raised or
to be raised by taxation.
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.
City Secretary, City of Mayor, City of Kennedale
Kennedale
(FORM OF REGISTRATION CERTIFICATE)
COMPTROLLER'S 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.
Witness my signature and seal this
Comptroller of Public Accounts of the
State of Texas
(FORM OF INTEREST COUPON)
NO. $
On , 19 , the 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 of Dollars,
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 herein-
after designated, of that issue of City of Kennedale, Texas,
Water and Sewer Revenue Bonds, Series 1965, dated March 1,
1965. The holder hereof shall never have the right to demand
payment of this obligation out of any funds raised or to be
raised by taxation.
Bond No.
City Secretary Mayor
Section 8. That the term "Outstanding Bonds", as used
herein, shall mean the outstanding bonds of the Water and Sewer
Revenue Bonds, Series 1960, authorized by ordinance dated
February 11, 1960. The Series 1965 Bonds authorized hereby are
parity "Additional Bonds" as defined and permitted in the afore-
said ordinance dated February 11, 1960, and Sections 9 through
24 of said ordinance are adopted by reference and shall be
applicable to said Series 1965 Bonds for all purposes, except
to the extent hereinafter specifically modified and supplemented.
The Series 1965 Bonds and the Outstanding Bonds are and shall
be secured by and payable from a first lien on and pledge of the
Net Revenues of said City's Waterworks and Sewer
of said obligations shall be on a parity and of
in all respects.
System, and all
qual dignity
Section 9. That, in addition to all other amounts
required by the ordinances, respectively, authorizing the
Outstanding Bonds, there shall be deposited into the Interest
and Sinking Fund, created for the benefit of said Outstanding
Bonds and all Additional Bonds, the following:
(a) such amounts, in equal monthly installments,
made on or before the 15th day of each month hereafter,
as will be sufficient to pay the interest scheduled to
come due on said Series 1965 Bonds on the next interest
payment date; and
(b) such amounts, in equal monthly installments,
made on or before the 15th day of each month, commencing
September 1, 1990, as will be sufficient to pay the next
maturing principal of said Series 1965 Bonds.
Section 10. That, in addition to all other amounts
required by the ordinance authorizing the Outstanding Bonds,
there shall be deposited into the Reserve Fund, created for
the benefit of said Outstanding Bonds and all Additional Bonds,
on or before the 15th day of each month hereafter, the sum of
at least $27.35 until the aggregate amount of $16,040.60 shall
have been accumulated in said Reserve Fund. In addition to all
other amounts required to be deposited into said Reserve Fund
by this Ordinance and by the Ordinance authorizing the Out-
standing Bonds, on June 15, 1965, there shall be deposited into
said Reserve Fund the amount of $432.00, and on the 15th day of
each month thereafter there shall be deposited into said Reserve
Fund the amount of $216.00, until an additional amount of
$65,000.00 has been accumulated in said Reserve Fund. There-
after said aggregate amount shall be maintained therein, for
the benefit of the Outstanding Bonds, the Series 1965 Bonds,
and all Additional Bonds, in accordance with the procedures, as
herein modified and supplemented, set forth in the Ordinance
authorizing the Outstanding Bonds.
Section 11. That said bonds are and shall be special
obligations of said City, and the holder or holders thereof
shall never have the right to demand payment of said obliga-
tions out of any funds raised or to be raised by taxation.
Section 12. 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 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 prescribed herein to be printed and endorsed
on each bonds, and the seal of said Comptroller shall be im-
pressed, or printed, or lithographed on each of said bonds.
Section 13. That
has submitted a bid to purchase said bonds for cash for the
principal amount or par value thereof and accrued interest
thereon to the date of delivery, plus a premium of $
It is hereby officially found, determined, and declared that
said bidder is the highest bidder for said bonds; and said
bonds are hereby sold to said highest bidder, as required by
law, and shall be delivered as soon as practicable in accordance
with the terms of sale.
ADOPTED AND APPROVED this 27th day of May, 1965.
ATTEST:
(City Seal)
A PPROVED:
B. T. Webb, Mayor, City of Kennedale,
Texas