Charter of the City of Dallas Page: 26
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-26-
34. Whenever any corporation enjoying a franchise from the City
of Dallas shall desire to issue any stock or bonds, it shall file with the
City Secretary a statement showing the amount of said stock or bonds
proposed to be issued.
35. Whenever any corporation enjoying a franchise from the City of
Dallas may desire to issue any stock or bonds subsequent to its or-
ganization, it shall file with the City Secretary a statement showing
the amount of such stock and the amount of such bonds proposed to be
issued, and showing the purpose for which the same are to be issued.
36. Upon application made, and after thirty days public notice thereof,
the legislative authority of the City of Dallas, upon showing that the
necessary interests of the corporations require it, and that such inter-
ests are not in conflict with the public interests, may authorize a cor-
poration enjoying a franchise from the City of Dallas to issue stocks
and bonds with the restrictions herein imposed; provided, that the same
shall be subject to the provisions of subdivisions 32 and 33 of this article,
and provided further, that such authority shall never be given for the
issuance of funding bonds to replace other bonds in excess of the amounts
to which such bonds would be limited by the provisions of said sub-
divisions.
37. Every corporation holding a franchise or enjoying an easement
of any sort through, under or from the City of Dallas, shall be required
to prepare and file annually with the Board of Commissioners, within
sixty days after the close of the fiscal year of such corporation, a true,
full and correct statement, based upon its condition at the close of
such fiscal year and its transactions for the current year which shall
exhibit.
(a) The amount of all stock issues of such corporation, and the
divisions thereof.
(b) An itemized statement of the indebtedness of such corporation,
its nature and division, whether floating or bonded, and the interest
payable on each item thereof.
(e) An itemized statement of the income of such corporation and the
amounts derived from each source of income.
(d) An itemized and detailed statement of the expenditures of such
corporation.
(e) An itemized statement of all property of every kind owned by
said corporation, wherever situate and the location and fair market
value of each item thereof.
(f) Said annual statement shall be verified by oath of a duly au-
thorized officer or agent of such corporation, and shall be spread upon
the minutes of the- Board of Commissioners.
If any person signing such annual report shall wilfully make a false
representation therein, he shall be guilty of perjury, and punished there-
for as provided by law.
If any corporation required to file such report shall fail so to do as
herein provided, it shall be the duty of the City Attorney, after due
notice to such corporation of such intention, to bring a suit in the dis-
triet court to forfeit the franchise granted by the city to such cor-
poration, and if it shall appear to the court that such corporation has
wilfully failed to make such report, it shall render judgment in said
cause decreeing a forfeiture of such franchise and of all rights accruing
thereunder to said corporation.
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Reference the current page of this Legislative Document.
Texas. Legislature. Charter of the City of Dallas, legislative document, 1907; (https://texashistory.unt.edu/ark:/67531/metapth610709/m1/32/: accessed June 30, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Dallas Municipal Archives.