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HomeMy WebLinkAboutORD 4-A-1within the City , of_:Beaumont, ,and :pr.ot ding for the:levy GGt1ii _C011eet.t;A f.8.t€'tt p tha.:inreet and create -a ein�C-. ing. fund for. the redomption .'4f said 'bondB. W� ASO. at an' election head for the,`purposei on the 5th 'dey'of September, :A. D. 19Ob� a majority ot'tYiss qualified v4tero ' who are prop erty' tex payers of ' the, City• of BeA'UmontI* .Tei AX# voting at said election, iivatairied `tho`` pr-oposition -to .issue. the bondi 'hereinafter , described by a' v4te . of i for the .ipsuance of said 'bonds,- to,a vote of ags ainst the °issuasnco �.pf said bonds, . therefor 6, B10 -IT ORD.&tVED BYITIDE CITY COUNCIL OF THE "CITY OF BEAMORT 3eQtiQn Is -.That -'there etiall'bg. is by, the. City of, Beaumont, Texae� 'tYae bonds of'.. th6• , said City, , to be called "City, -,of of Beaumont G J2'z Bondi", :for the purpose of -borrowing_ money, upon the ' credit of this City, auoh money to bes used in: Section . Said bonds sham. be numbered consecutively from 1. tt�. 3rdlusivo', and,shall .be of the denomination of One Thousand 1-.000.orl DQ11ars .'each, :4ggreg6ting the sum of o O Thouseri� ( °� © ) ..Dollars, and shall. beiayable , in ltaxfomoney of the 'United States of Americas, ` Seetion' 3.. ' Said .bonds shall be ,dated day 'of ;L A.,,' D. 1906, and shall bac om . due andL payable Forty,' (40) years: £rom their date, but. the right 'is hereby, expre.asZy reserved by 'the City of Boaumont . to r.edtem said bonds, .or ' ,any number-- thereof 'at-- any at-arty time' gfte:r: T;�variy;, 1 ,20)years f'rrsn theirdate. Section 4. Said bands' shall bear interest t'rom• . their .date .at the rate of Five .(5 ) per cent.',.per annum, the interest .Payable q=i- annual IL Y, tinthe . day of and the day of ©f eao�i year ordg,-ro fiche. tanor of tete int' rest ...._.._.,....:..� i : ,' coupons thereto.. attachsd. Cec�iori 3.; Principal and interest -on said. bonds shat.':. be -payable on ,presentation and surrendet� .of bond or. proper coupon at the Office of, the - City, Treasurer of, the' City of 'Beaumont, of at ., c,` G/� "` G fa e� G y�i!aQc ji 4r,, at he option of the hctlder sect- ori 6.. 84U& bonds anthill .:be` signed by the _ :Mayor, ao tnta.rw e good °by the -City Secretary and regia ei ed ,by the - lty .Tr.eeeurer, and the:01sal of 'the City' shell _b i'; mpresse , upon '� :eh or_e':.o,f, t�i�. Section.' 7. 'Th6 fac :Zimila. signs lured :of the ,lgayoX and the Ca.ty Seere.tax; shill '?fie .1 thggraiaizecl .on the. boupogO-,,, Sec't:�pn '8. It ..i's - fi�xther, ordained by?.,the , City Council, 'cha.t to pay. tha .i.ntere.st . an .sai:d ,bonds ;ani. ' craa,te : a' s iril :ing °fund`: stiff i'cirri t` to, discharge them at ztmaturity A_' f,�:' of. () Dents on each: one.­hiind:r.eddo!'- L' dolars. ; 402, valuation (Y'#' all .tsxsbl.e property .in ;s,-�j d Oi:ty . of., 16eai u tont be'- axt�_ nuai7.y; 1pviett: nn said property and w nu6ly aaelessed.- t~nd collected untii ' said: bonds acid ' interest are-paid; anal said tax'.af the one hundred. doll'ax�s, ';oat . of.'.'a- tax ef, )_'if4 (.50). Cents ,or each`:.on® hundred dollars :proper ty valuation rsvieci to' c�^ea �c� ,he ar�fier-'wt. and s3.nkingxz�d .to PziY 'the out: tanding- '60nd_gtt indeb''te&tress of this ...City, by this i,-. Couicil 9 the ��day of � .� , � X06., (the or-, -dinance'-making .,said, 1-vy 'be in9 of rpcai d ori ' pagw �5��. ���i :30 cr ,�o: /, � of the lauui;es of =this 'Couricsl)', is' hereby. app,;apri stems :vnd 'cEt .aside' td PAY the' 3riterest and create, tha neoegsary sinking, fund, f'arhe,'current- year'f. and .shall :be assessed°and: ,col.lp' Ot' ed a�icl so aplij..ed; and said a s or so much thereof a,s,',�aay b�,'nece'ssary, 'is; h6r.eby lQvi ed for each year hereafter wh3.1'e said, bonds, or. any riunibe. -thereof - 'Ere; Mltsta,rtding, and, the same shall be annually .assessed and ,colle'dted and.'appli'.d to -the pun- poses .named. Seution 9. It is: further prda.iiied' tl a� the lxayor, be'. authorized, and he is hereby directed to have--prepared the bonds '.of the City of 'Beaumont:` of the denomination of One Doli&r each, as :above desoribed; and that the `laid Mayor be' oiathorized _ to -take ..and have charge of said bonds' pending..the.ir ' investi.gatIon by the Att6r'ney General'. of the State . of, Texas, .and 'upon .their ..approval.; and rog- i trart�io atµ hs shall proceed to esti the, same, at� no t 1.e,s's. than their 'face ' b; .K. '+.. value", ��zt \pu'�i1c. or ,. pr3 vita sal s; 'and 'the proaseds ai` such ; sale ,shall be dap s 'ted with 'the City Treasurer . of the City Of Beaumont `and: it, is hore. by 'made tke duty. of the Mayor = to provide .that vai:d' bonds .,shall bo, deal ,v' rod=to 1i� .=purchm er -in the City of Beaumont acid #ayment„ forsame ; shall' also "be made tri the ' of 'Beaumont: � : ..;+p od eytlD196AAgo on tho' dd Ppr Mayor . on the day :of , A.'- D 1906.. No Text