O69-01KENNEDALE ORDINANCE N0, 69-1
ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS
THE STATE OF TEXAS :
COUNTY OF TARRANT
CITY OF KENNEDALE
WHEREAS, the following bonds of said City are
presently outstanding:
City of Kennedale ,Water and Sewer Revenue
Bonds, Series 1960, dated March 1, 1960,
Bonds Numbers 11 through 210, in the denom-
ination of $1,000 eaoh, aggregating $200,000
in principal amount, maturing serially_
September 1, 1969 through September 1, 1990,
and bearing interest at the rates of 5%, 52%0
and 5-3/4% per annum; and
City of Kennedale, Texas, Water and Sewer
Revenue Bonds, Series 1965, dated March 1,
1965, Bonds Numbers 1 through 9, in the denom-
ination of $5,000 each, except Bonds Numbers 1
through 4',,in the denomination of $1,000 each,
aggregating $29,000 in principal amount,
maturing serially September 1, 1991 through
September 1, 1996, and bearing interest at the
rate of 5-1/2% per annum; and
WHEREAS', Bonds Numbers 15 and 16'of said Series
1960 issue are due on September 1, 1970, and money for the
payment of said bonds, with interest to their due date plus
an amount equal to the charges of the State Treasurer and bank
of payment, should be deposited with the State Treasurer for
their payment in accordance with the provisions of Article
1118n-5, and the balance of said outstanding bonds should be
refunded in accordance' with Vernon's Article llllb;
with said interest to be evidenced by interest coupons payable
on March 1, 1969, and semi-annually thereafter on each
September 1 and March 1.
Section 5. That the principal of and interest on
said bondsshall 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 en-
dorsed on each bond, and the form of the interest coupons to
be attached to said bonds, shall be, respectively, substantially
as follows:
N0,
(FORM OF BOND)
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF KENNEDALE
REVENUE REFUNDING BOND
SERIES 1968
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
THOUSAND DOLLARS
and to pay interest thereon, from the date hereof, at the
rate of % per annum, evidenced by interest coupons
payable March 1, 1969, and semi-annually thereafter on each
September 1 and March 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 bonds dated
September 1, 1968, issued in the principal amount of $227,000
for the purpose of refunding $198,000 in principal amount of
City of Kennedale Water and Sewer Revenue Bonds, Series 1960,
dated March 1, 1960, and $29,000 in principal amount of City
of Kennedale, Texas, Water and Sewer Revenue Bonds, Series
1965, dated March 1, 1965. In addition to all other rights,
the holders of this Series of bonds shall be subrogated to all
pertinent and necessary rights of the holders of the obliga-
tions being refunded thereby.
The bonds of this Series scheduled to mature on
and after September 1, 1984, may be redeemed prior to their
scheduled maturities, in whole, or in part, at the option of
said City, on September 1, 1983, or on any interest payment
date thereafter, for the principal amount thereof plus accrued
interest to the date fixed for redemption, plus a premium of
3-1/2% of the principal amount so called 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 pub-
lication 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, plus the premium.
If the written notice of redemption is published, and if
due provision for such paymentris made, all as provided
above, the bonds, which are to be so redeemed, thereby auto-
matically shall be redeemed prior to maturity, and they 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 the issuance
of this bond`and the series of which it is a part is duly
authorized by law; that all acts, conditions and things re-
quired 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 this series of revenue
bonds does not exceed any Constitutional or statutory limita-
tions, and that provision has been made for the payment of
the principal of and interest on this bond and the series of
which it is a part, from 'a first lien on and pledge of the
net revenues of the Waterworks and Sewer System of the City
of Kennedale, Texas.
Said City has reserved the right, subject to the
restrictions stated in the ordinance authorizing this series
of bonds, to issue additional revenue bonds which may be
secured by and made payable from the same revenues as, and
be on a parity and of equal dignity in all respects with,
this series of bonds.
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)
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER N0,
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
NO.
On
Comptroller of Public Accounts of the
State of Texas
(FORM OF INTEREST COUPON)
, 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 shown on this 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
bond, bearing the number hereinafter designated, of that
issue of City of Kennedale Revenue Refunding Bonds, Series
1968, dated September 1, 1968. The holder hereof shall never
have the rightto demand payment of this obligation out of
any funds raised or to be raised by taxation. Bond No.
City Secretary Mayor
Section 8. DEFINITIONS. (a) .The term "System"
as used in this ordinance shall.mean the City's entire Water-
works and Sewer System, together with all future improvements,
extensions, enlargements and additions thereto, and replace-
ments thereof.
(b) The term "Net Revenues" as used in this
ordinance shall mean all gross revenues of the System, after
deducting the expenses of operation and maintenance of the
System, including all salaries, labor, materials, repairs
and extensions necessary to render efficient service, pro-
vided, however, that only such repairs and extensions, as in
the judgment of. the City Council, of said City, reasonably and
fairly exercised by the passage of appropriate ordinances, are
necessary to keep the System in operation and render adequate
service to said City and the inhabitantsthereof, or such as
might be necessary to meet some physical accident or condition
which would otherwise impair the Bonds and any Additional
Bonds, shall be deducted in determining "Net Revenues."
Depreciation, and payments into and out of the Interest and
Sinking Fund and the Reserve Fund hereinafter created shall
never be considered as expenses of operation and maintenance.
(c) The term "Bonds" shall mean the Bonds author-
ized to be issued and delivered by this ordinance.
(d) The term "Additional Bonds" shall mean the
additional parity revenue bonds which the City reserves the
right to issue and deliver in the future, as provided by
this ordinance.
Section 9. PLEDGE; The Bonds and all Additional
Bonds, and the interest thereon, are and shall be payable
from and secured by an irrevocable first lien on and pledge
of the Net Revenues of the System, and said Net Revenues are
further pledged irrevocably to the establishment and main-
tenance of the Funds hereinafter created.
Section 10. RATES. The City covenants and agrees
with the holders of the Bonds And all Additional Bonds, as
follows:
(a) That it will at all times fix, maintain,
charge and collect for services rendered by the System, rates
and charges which will produce gross revenues at least suffi-
cient to pay all expenses of operation and maintenance, and
to provide Net Revenues adequate to pay promptly all of the
principal of and interest on the Bonds and all Additional
Bonds, and to make all deposits now or hereafter required to
be made into the Funds created and established by this ordinanc
(b) If the System should become legally -liable for
any other obligations or indebtedness, the City shall fix,
maintain, charge and collect additional rates and charges for
services rendered by the System sufficient to establish and
maintain funds for the payment thereof.
Section 11. FUNDS; All revenues of the System
shall be kept separate and apart from all other funds of the
City, and the following special Funds are hereby created and
shall be established and maintained in an official depository
bank of the City, so long as any of the Bonds or Additional
Bonds, or interest thereon, are outstanding and unpaid:
(a) City of Kennedale Waterworks and Sewer
System Revenue Fund, hereinafter called the "Revenue Fund";
(b) City of Kennedale Waterworks and Sewer
System Revenue Bonds Interest and Sinking Fund, hereinafter.
called the "Interest and Sinking Fund";
(c) City. of Kennedale Waterworks and Sewer
System Revenue Bonds Reserve Fund, hereinafter called the
"Reserve Fund".
Section 12. REVENUE ,FUND. All gross revenues of
every nature received from theroperation and ownership of
the. System shall be deposited from day to day as collected
into the Revenue Fund, and the reasonable, necessary and
proper expenses of operation and maintenance of the System
shall be paid from the Revenue Fund. The revenues of the
System not actually required to pay said expenses shall be
deposited from the Revenue Fund into the other Funds created
by this ordinance, in the manner and amounts hereinafter
provided, and each of such Funds shall have priority as to
such deposits in the order in which they are treated in the.
following sections.
Section 13. INTEREST AND SINKING FUND, There
shall be deposited into the Interest and Sinking Fund 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 the 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 hereafter,
commencing September 1, 1969, as will be sufficient to
pay the next maturing principal of the Bonds.
The Interest and Sinking Fund shall be used to pay the
principal of and interest on the Bonds and all Additional
Bonds, as such principal matures and such interest comes due.
Section 14. RESERVE FUND, On or before the 15th
day of each month hereafter, there shall be deposited into
the Reserve Fund the sum of at least $ 300.00, until the
Reserve Fund shall contain an aggregate amount of $18,000.
No deposits shall be required to be made into the Reserve
Fund as long as the Reserve Fund contains said aggregate
amount,'but if and whenever said Reserve Fund is reduced
below said aggregate amount, the aforesaid monthly deposits
into the Reserve Fund shall be resumed and continued until
such time as the Reserve Fund has been restored to said
aggregate amount. The Reserve Fund shall be used to pay the
principal of or interest on the Bonds and all Additional
Bonds, at any time when there is not sufficient money avail -
Ale in the Interest and Sinking Fund for such purpose.
Money in the Reserve Fund may, upon authorization by the
City Council, be invested in direct obligations of, or
obligations, the principal of and interest on which are
guaranteed by, the United States of America, or invested in
direct obligations of the Federal Intermediate Credit Banks,
Federal Land Banks, Federal National Mortgage Association,
Federal Home Loan Banks or Banks for Cooperatives, provided
that each of the aforesaid obligations must mature, or be
subject to redemption at the option of the holder thereof,
within not more than ten years from the date of the making
of such investment. Any obligation in which money in the
Reserve Fund is so invested shall be kept and held in an,
official depository bank of the City in escrow and in trust
for the benefit of the holders of the Bonds and all Addi-
tional Bonds, and shall be promptly sold and the proceeds
of sale applied to the making of all payments required to
be made from the Reserve Fund..
Section 15. There is hereby appropriated to the.
Reserve Fund established for the Series 1968 Bonds herein
authorized the balances in each of the Reserve Funds estab-
lished in connection with the Water and Sewer Revenue Bonds,
Series _1960,and the_Water'and Sewer Revenue Bonds, Series
1965.:
.,
-_ :Section .16. . DEFICIENCIES IN FUNDS, If in any =::
month the City shall-fail.to deposit into any Fund created
by_this ordinance the full amounts required, amounts equiv-
alent to such deficiencies shall be set apart and paid into
said Funds from the first available and unallocated Net Revenue
of the System fro the following month or months, and such ._
payments shall be in addition to the amounts otherwise required
to be paid into said Funds during such month or months..: To
the extent necessary, the City shall increase the rates and
charges. for services of the System to make up for any such
deficiencies.
Section 17.- EXCESS REVENUES, The Net Revenues of
the System, in excess of those necessary to establish and
maintain the Funds as required in this ordinance, or as here-
after may be required in connection with the issuance of
Additional Bonds, may be used for any lawful purpose.
Section 18. SECURITY FOR FUNDS, All Funds created
by this ordinance shall be secured in the manner and to the
fullest extent permitted or required by law for the security
of public funds, and such Funds shall be used only for the
purposes and in the manner permitted or required by this
ordinance.
Section 19. ADDITIONAL BONDS. The City reserves
the right t.o issue additional parity bonds, to be known as
Additional Bonds, which when issued and delivered, shall be
payable from and secured by a first lien on and pledge of
• the Net Revenues of the System, in the same manner and to
the same extent as the Bonds; and the Bonds and all Addi-
tional Bonds shall in all respects be on a.parity and of
.equal dignity. The Additional Bonds may be issued in one
or more installments or series, provided, however, that no
installment or series of Additional Bonds shall be issued
unless:
(a) A certificate is executed by the Mayor and
City Secretary of said City to the effect that no default
exists in connection with any of the covenants or require-
ments of the ordinance or ordinances authorizing the issuance
of all then outstanding Bonds and Additional Bonds;
(b) A certificate is executed by the Mayor and
City Secretary of said City to the effect that the Interest
and Sinking Fund and the Reserve Fund each contains the
amount then required to be on deposit therein;
(c) A certificate is executed by a Certified Public
Accountant to the effect that, in his opinion, the Net Earnings
of the System either for the last completed fiscal year of the
City, or for any twelve consecutive calendar month period
ending not more than ninety days prior to the passage of the
ordinance authorizing the issuance of such Additional Bonds,
were at least 1-1/2 times the average annual principal and
interest requirements for all then outstanding Bonds and Addi-
tional Bonds, and for the installment or series of Additibnal
Bonds then -proposed to be issued; and the term "Net Earnings,"
as used in this sub -paragraph (c) shall mean the Net Revenues
of the System, but excluding and not deducting, any charges
or disbursements which under standard accounting practice,
should be charged to capital expenditures;
(d) The Additional Bonds are scheduled to mature
only on September 1, and the interest thereon is scheduled
to be paid only on March 1 and September 1.
(e) The ordinance authorizing the issuance of such
installment or series of Additional Bonds provides that the '
aggregate amount to be accumulated and maintained in the
Reserve Fund shall be increased by an additional amount not
less than the average annual principal and interest require-
ments for said Additional Bonds, and that such additional
amount shall be so accumulated within sixty-one months from.
the date of the Additional Bonds, by the deposit in the
Reserve Fund of the necessary sums in equal monthly install-
ments; provided, however, that the aggregate amount to be
accumulated in the Reserve Fund shall never be required to
exceed the average annual principal and interest require-
ments for all then outstanding Bonds and Additional Bonds,
and for the installment or series of Additional Bonds then
proposed to be issued.
(f) All calculations, of average annual principal and
interest requirements made pursuant to this Section are made
as of and from the date of the Additional Bonds then proposed
to be issued.
Section 20. MAINTENANCE AND OPERATION; INSURANCE,
While any of the Bonds or Additional Bonds are outstanding
the City covenants and agrees to maintain the System in good
condition and operate the same in an efficient manner and at
reasonable expense, and to maintain insurance on the System,
for the benefit of the holder or holders of the Bonds and
Additional Bonds, of a kind and in an'amount which usually
would be carried by private companies engaged in a similar
type of business. Nothing in this ordinance shall be construed
as requiring the City to expend any funds which are derived
from sources other than the System, but nothing herein shall
be construed as preventing the City from doing so.
Section 21. ACCOUNTS AND FISCAL YEAR. The City
shall keep proper books of records and accounts, separate
from all other records and accounts of the'City, in which
complete and correct entries shall be made of all transactions
relating to the System, and shall have said books audited once
each fiscal year by a Certified Public Accountant. Said books
and records shall be kept under the direction of the City
Secretary and on the basis of its current fiscal year; pro-
vided, however, that the City may change such fiscal year by
ordinance duly passed, if such change is deemed necessary by
the City.
Section 22. ACCOUNTING REPORTS. Within ninety days
after the close of each fiscal year hereafter, the City will
furnish, without cost, to any holder of any outstanding Bonds
or Additional Bonds who may so request, a signed or certified
copy of a report by a Certified Public Accountant, covering
the next preceding fiscal year, showing the following informa-
tion:
(a) A detailed statement of all gross revenues
of the System and all expenses of operation and
maintenance thereof for said fiscal year;
(b) Balance sheet as of the end of said fiscal
year;
(c) Accountant's comment regarding the manner in
which the City has complied with the requirements
of this ordinance and his recommendations, if any,
for any changes or improvements in the operation
of the System;
(d) List of insurance policies in force at the
end of said fiscal year, showing, as to each
policy, the risk covered, the amount of the
policy, the name of the insurer, and the expira-
tion date;
(e) The number of properties connected with the
Waterworks and Sewer System, and the gross revenues
from each of said systems for said fiscal year;
(f) The number of unmetered customers of the
Waterworks System at the end of said fis-cal year;
(g) The approximate number of gallons of water
registered through the City's meters, and the
number of gallons sold during said fiscal year.
Section 23. INSPECTION, Any holder or holders of
any Bonds or Additional Bonds shall have the right at all
reasonable times to inspect the System and all records, accoun
and data relating thereto.
Section 24. SPECIAL COVENANTS, The City further
covenants as follows:
(a) That other than for the payment of the Bonds.
herein authorized, the revenues and income of the System have
not in any manner been pledged to the payment of any debt or
obligation of the City or of the System, except to Bonds Numbers
15 and 16, due September 1, 1970,_of City of Kennedale Water and
Sewer Revenue Bonds, Series 1960. Sufficient funds to pay the
principal and interest, to maturity, of said bonds has been
deposited with the State Treasurer, in accordance with the pro-
visions of Article 1118n-5, V.A.T.S.
(b) That while any of the Bonds or Additional Bonds
are outstanding, the City will not sell or encumber .the System
or any substantial part thereof, and that, with the exception
of the Additional Bonds expressly permitted by this ordinance
to be issued, it will not encumber the revenues and income of
the System, unless such encumbrance is made junior and sub-
ordinate in all respects to the Bonds and Additional Bonds and
all liens and pledges in connection therewith.
(c) That no free service of the System shall be
allowed, and should the City or any of its agencies or in-
strumentalities make use of the services and facilities of the
System, payment of the reasonable value thereof shall be made by
the City out of funds from sources other than the revenues and
income of the System.
(d) That to the extent it legally may, the City
further covenants and agreesthat while any of the Bonds or
Additional Bonds are outstanding, no franchise shall be granted
for the installation or operation of any competing waterworks
or sewer system; and that the City will prohibit the operation
of any such competing system; and the operation of any such
competing system is hereby prohibited.
Section 25. BONDS ARE SPECIAL OBLIGATIONS. The
Bonds and Additional Bonds shall be special obligations of the
om the pledged Net Revenues, and the
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PASSED AND APPROVED this qth day of January1
191:19.
Mayor, City of Kennedale, Texas
ATTEST:
City Secretary, City of Kennedale,
.Texas
(CITY SEAL)
CERTIFICATE FOR
BOND ORDINANCE
iHE STATE OF TEXAS :
OUNTY OF TARRANT :
ITY OF KENNEDALE :
We, the undersigned officers of said City, hereby certify
as follows:
1. -The City Council of said City convened in
REGULAR MEETING ON THE 9TH DAY OF JANUARY, 1969,
at the City Hall, and the roll was called of the duly constituted
officers and members of said City Council, to -wit:
B. T. Webb, Mayor
W. C. Kirkpatrick
Don T. Lyon
J. H. Martin
Mrs. Jewel Boyd, City Secretary
Chas. Knotts
H. L. Hatton
and all of said pers ns were present, except the following
absentees: bVE
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 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 Ordi-
nance; that the persons named in the above and foregoing paragraph
are the duly 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.
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 9th day of January 1969.
City Secretary
•. Mayor
(SEAL)
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 is duly incorporated,
operating arid 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 of any nature has ever been
filed pertaining to, affecting or contesting: (a) the proceed-
ings authorizing the proposed City of Kennedale Revenue Refundin
Bonds, Series 1968, dated September 1, 1968, in the principal
amount of $227,000, (b) the issuance, delivery, payment, securit
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 exist-
ence of said City; and that no litigation is pending pertaining
to, affecting or contesting the boundaries of said City.
3. That none of the revenues or income of said City's
Waterworks and Sewer System have been pledged or encumbered to
the payment of any debt or obligation of said City or said
System, except in connection with the aforesaid proposed Series
1968 Bonds, and the outstanding bonds of.the Water and Sewer
Revenue Bonds, Series 1960, and Water and Sewer Revenue Bonds,
Series 1965.
4. That the rates being charged for water service
by said City have not been changed since the passage of the
ordinance authorizing the Series 1965 Bonds listed -above.
5. That the following is a true, full and correct
schedule of the income and expenses of the waterworks and sewer
system of said City for the past four years:
1968 1967 1966 1965
Income: $ 63,260 $ 59,655 $ 56,874 $ 49,755
Expenses: 36,122 29,016 29,901 25,277
Net Income: $ 27,138 $ 30,639 $ 26,973 $ 24,478
6. That the outstanding Bonds of the Series 1960
issue and the Series 1965 issue are being refunded by the afore-
said proposed Series 1968 Bonds, except Bonds Numbers 15 and 16
of the Series 1960 issue, and funds for payment of principal and
interest to maturity have been or will be deposited with the
State Treasurer in accordance with Article 1118n-5, VQAOT.S, and
none of said bonds being refunded have ever been held in, or pur
chased for the account of, the interest and sinking fund created
and maintained for the benefit of such bonds being so refunded,
and nothing in said interest and sinking fund is available and
can be used for the retirement of any such bonds.
7. That the City is not in default of any of the
covenants contained in the ordinances passed by the City
Council of said City on February 14, 1960, authorizing the
Series 1960 Bonds, and on May 27, 1965, authorizing the Series
1965 Bonds.
SIGNED AND SEALED this 9th day of January, 1969.
City Secretary
(CITY SEAL)
Mayor
SIGNATURE IDENTIFICATION AND NO -LITIGATION CERTIFICATE
THE STATE OF TEXAS :
COUNTY OF TARRANT :
CITY OF KENNEDALE :
We, the undersigned, hereby certify as follows:
(a) That this certificate is executed and delivered with reference to that issue of
City of Kennedale Revenue Refunding Bonds,
Series 196 8, dated September 1 , 1968 , in the principal amount of $ 227,000.
(b) That we officially executed and signed said Bonds and the interest coupons attached
thereto by causing facsimiles of our manual signatures to be imprinted or lithographed on each
of said Bonds and interest coupons, and we hereby adopt said facsimile signatures as our own,
respectively, and declare that said facsimile signatures constitute our signatures the same as if
we had manually signed each of said Bonds and interest coupons.
(c) That said Bonds and interest coupons are substantially in the form, and have been duly
executed and signed in the manner, prescribed in the order, resolution, or ordinance authorizing the
issuance of. said Bonds and interest coupons. .
(d) That at the time we so executed and signed said Bonds and interest coupons we were,
and at the time of executing this certificate we are, the duly chosen, qualified, and acting officers
indicated therein, and authorized to execute the same.
(e) That no litigation of any nature has been filed or is now pending to restrain or enjoin the
issuance or delivery of said Bonds or interest coupons, or which would affect the provision made for
their payment or security, or in any manner questioning the proceedings or authority concerning
the issuance of said Bonds and interest coupons, and that so far as we know and believe no such
litigation is threatened.
(f) That neither the corporate existence nor boundaries of said issuer nor the title of its
present officers to their respective offices is being contested, and that no authority or proceedings
for the issuance of said Bonds and interest coupons have been repealed, revoked, or rescinded.
(g) That we have caused the official seal of said issuer to be impressed, or printed, or litho-
graphed on each of said Bonds ; and said seal on said Bonds has been duly adopted as,and is
hereby declared to be, the official seal of said issuer. •
EXECUTED and delivered this
MANUAL SIGNATURES OFFICIAL TITLES
(BANK SEAL)
City Secretary
The signatures 'of the officers subscribed above
are hereby certified to be true and genuine.
By
Bank
Authorized Officer
LAW OFFICES
McCa11, Parkhurst & Horton
1400 Mercantile Bank Building
Dallas, Texas 75201
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF KENNEDALE
•
•
•
•
I, the undersigned, City Secretary of said City,
hereby certify that the attached and following is a true and
correct copy of excerpts from the Ordinance passed by the
governing body of said City on the llth day of February, 1960,
authorizing the issuance of City of Kennedale Water and Sewer
Revenue Bonds, Series 1960, showing clearly the amounts and
the date or dates on which interest is due on such Bonds, the
date when the principal becomes subject to redemption, and the
name of the place at which such -principal and interest must be
paid.
SIGNED AND SEALED this the / ' day of
1969.
City Secretary
City of Kennedale, Texas
(CITY SEAL)
IMEREACt, at t..., election heldin said City on the 21st day of
rant: 19591 a majority of the resident, cilialifiod electors mains taxable
. property in said City: and vho bad duly rendered the same for taxation voting
at :said election, sustained the propositions to is-c, the bonds hereinafter
described bv the folloving votes:
PRPPXITION NO. /
SITZ D3litiAMLP, WATfli9VORK3 tYSTPM rttiltlaraS
RDi 11•CaDS SLCIZZI) LI WATLIWarat'S AL174)
SYSTE2,1 BEVENIF-LV
'ACALIZITi ISSLIAIMOT%.,L,T.I.Tiz,WORKS
Er:VT.1'73 R-Z-54,M,LiG BD3 SEciid,an BY VariZIWOR•b;3
AM SiVai Sif5TE",,i
R"?..OPt.IST:3701i :O. 2
ic LOAITE SaIS-7, SYSTEM REVETR, B4OS
SIXTa.3.7.0 BY VinzAWCac,"3 873-,2522a SYSTZ", REVE;NDES'
'AGAIZT TI3 ISSMIZI-111 SY44-1-vi
BOITLE SZCIZZO BY Vati,MaORKS ADSraa gri,37aSS
RE312.741I.:W'
'FOR Tra3 ISEntlia OP WATEK1WOM SY5E124 PVEJ
BOLDS SEC/MO i-1.1: WATF—nit.7a13JUD zarr-z1 SY-Z:MAI
.93 Votes;
90 Votes;
• 2.3 Voto;;
90 Votes;
23 Votes;
"AI?] Tar-I41 C YST_LA
Brms 10,424WO1K,3: ..a31,01R •
- • 23 Votes;
VERREA$1 .a the outsunalnz *6o)coo.cv-.) of City of Esnaedale,
To , Waterworks Syst= geyenue Bonds, *Series 19521 dated Vareh 15, 19521
01000.00 of said bonds vill beccze due on 1-!,5xcb 1, '0; end
WORM, it is necessary fo- the City to issue refuaaing bonde
for the p-,apose of refundini3 *59,000.00 of the outstanding bonds of said
issue; and
07112AS0 the City Council should nov pro.-,ed,trith the issuance
of such revenue bonds;
DB IT WaIEED 1Y Ta' CITY muLciL OF TIIL CITY og KUNSDALE, TEXAS:
1. A 4TiO3 C BOWL Fox the purpose of refunding
.00 of City of Teas: Wa,erworks System lievenue Bonds,
$59,00
fierios 192, dated narch 15, 1952;. for the purpozle of providing $140l0o3.00
of fins for constructing a Sever:-Sy,Aem for sold City; &lad for the purpose
of providing til1,000.00 of funds for improving end extendirc- the City's
writinz to 1e place of payrt;m(t ctic 11 b public.hed in a
firczwial ublication pl!"blizsaA. in the Ci-tV crev York, rev York.
votico shall appg--.:.-z rablioatioa in at lt,%ezt oae icoue, the date of
f-aid1zu b1Xrso-t ttn thirty C.-1515 priOr tc the date fixe.a for re-
tieLcoti=. if :any skzea bond lo callee. for tion in s.slid Ranz,%-zr and if
zu.rticient to yly the .Treamptionr;rice lyrre, been thaw ?laced in
crejayrt1:-jr t e.at .f:ierl. for red.mntic.ln; it r;51;27:11 not thearter
il.'te-rort. If c the op.t..ify1 tire ealleel. for r.e-
deziatior., theiz• ire myre,rical order.
4. XL FT BATia3» Said 4:Inds hall b4s'ar interez.tt
•
rate:i5:
BC-31-±1 1100. I to 6O tb lwive, 5 % per a:ma;
Bo1.-,fts. lbs. 61 to 1351 both ino1vzive,:5-1/2•13per an;
Entirl.c No;3. 13e5 to 210, bot: 1ve,5-73/14,71, per a-nv.r,_;
evild-z=e4 te.7 ootzpolla 7A;:fable 1$ 1961; and. aVal.-.37:kntlallY at 011
1 ',A
rcb 14* •4,y
I oz.
.E4.,=10.2 oFBI CL Erc of raid Bonds. mnd
ex,stutea by the imprintod, etznature of the
ztna crsid by the lz:,).1.12ted fac$1.r e.
31aratyre of he Citzl f2.ecretary
and facsimile r4eraturo3 hs!vetrami1signatu3'e,7.,
and the corporate or the City a:nall i each of tiae boads.
6. B=1). Th of raid Bozlds 11 be
ettlnatially me follows:
.216Zibj- $ 1,000.00
Ulgrai ARI=C`4,
f.4_,MTI; CV '1,2M3
CCek-IYC qtal1211.72
my (IT "y1MALE
iti=zo ,FfTvis_,3 E:ivzrais K;z0
IMUTO,.7 190
Tie City of NearRelz.101iz t CouLty :at, Stet of
a imanicipal cc,r7)oz,ation ettzlzi tn-c'.oat ed tbo Inua of the State
OZ TOX,Z3) for value receiredz herby 'prOLTAC4,9 'to
oolely fro the
rkwerfuei.',bterf*e.,ciflei-1.1. bearer 3.-zereof on. the lgt &L of
szr.ytrAer, 39S1-te s-xl of
Nal,:t. 4...-0i,...14,74%,1;;01 104-tit, 16
Office of Comptroller of
Public Accounts
Capitol Station
Austin, Texas
CITY OF KENNEDALE REVENUE REFUNDING BONDS,
SERIES 1968, $227,000
Gentlemen:
The Attorney General will deliver the above described
issue of bonds to you. This will be your authority to
accept the bonds described in the ordinance authorizing
the issuance of the Refunding Bonds from Frank B. McMahon
& Company, Dallas, Texas, or their order, and to deliver to
them, or their order, the Refunding Bonds. The Refunding
Bonds may be exchanged for the Series 1960 Bonds and the
Series 1965 Bonds either in one delivery or in installment:
deliveries, in which event the specific bonds to be de-
livered in each instance are to be designated by Frank B.
McMahon & Company.
At such time as the first installment delivery of
Refunding Bonds is made, you will please send to McCall,
Parkhurst & Horton,.1400 Mercantile Bank Building, Dallas,
Texas 75201, ,three copies each of the following: Attorney
General's Approving Opinion, Comptroller's Signature Iden-
tification Certificate and Cancellation Certificate. The
bill for these papers should be sent to Frank B. McMahon
& Company, P. 0.Box 7100, Inwood Station, Dallas, Texas
75209.
Very truly yours,
CITY OF KENNEDALE, TEXAS
BY
Mayor
The Attorney General of Texas
Capitol Station
Austin, Texas
Att'n Bond Division
Dear Sir:
CITY OF KENNEDALE REVENUE
REFUNDING BONDS, SERIES
1968, $227,000
The captioned Series of Bonds is being sent
to your Office, and it is requested that you examine and
approve the Bonds in accordance with law. After such
approval, please deliver the Bonds to the Comptroller of
Public Accounts for registration.
Enclosed herewith is a signed but undated
copy of the Signature Identification and No -Litigation
Certificate for said Series. You are hereby authorized
and directed to date said Certificate concurrently with the
date of approval of the Bonds. If any litigation or
contest should develop pertaining to the Bonds or any
other matters covered by said Certificate, the under-
signed will notify you thereof immediately by telephone
and telegraph. With this assurance you can rely on the
absence of any such litigation or contest, and on the
veracity and currency of said Certificate, at the time
you approve .the Bonds, unless you are notified otherwise
as aforesaid.
Yours very truly,
CITY OF KENNEDALE. TEXAS
BY
Mayor
MILLARD PARKHURST
HOBBY H. Mg CALL
PAUL B. HORTON
E. RAY HUTCHISON
ROBERT T. LEWIS
PETER M. TART
LAW OFFICES
Mg CALL, PARKHU RST & HORTON
1400 MERCANTILE BANK BUILDING
DALLAS,TEXAS 75201
AREA CODE 214 RIVERSIDE 8-9501
January 14, 1969
Mrs. Jewel Do Boyd
City Secretary
City Hall
Kennedale, Texas 76060
JOHN 0. MS CALL (1892-1962)
CLARENCE E. CROWE (1903-1962)
CITY OF KENNEDALE WATER AND SEWER REVENUE
BONDS NOS, 15 AND 16, SERIES 1960, $2,000
Dear Mrs. Boyd:
In connection with the above captioned bonds, we are
enclosing a certificate in duplicate, to be executed by
you. Please date and sign the certificate, and affix the
City's seal thereon, and return one copy to this office.
The other copy is for the files of the City.
Very truly yours,
McCALL, PAAHURST & HORTON
BY:
RTL:am
enclosures
cc: Mr. Frank McMahon