HomeMy WebLinkAboutORD 6-A-1Authorizir. g the ioijuance of'bdndB .fpr, the purpose a
Within the City of Beaumpnt , and providing for
the 1e•Iry9 fid-dol1e.c'G1gYi,'of 6 twr.to pay. the int6reat .aridcreat* a sink-
ing fund far t'ho redenption of said bonds.
Vrrt UE1 AAs, at an -election held for ' the . purpo Lie, on the 25tl? day, of
Septcviber, A. l), i�06,' a, majority of , the qualified voters, rvh6 are prop- "
erty, tax payerb of - he C�tyy of Peamont, Texas, voting -'at sai .eleotion,
su�t<aineedhr� propos'i4on to 12:bue the bondo hareinaf'ter, described by. a
vete . a:i; ! �i for the isawtncQ as ocid. bonds, tca' a vote o .0..�
against tho izauanoo of s&.,a boride-g themm for,e.,
Bpi Z`L` 0�A 1. 1s�7 Y.Y. iT t� CI T kr Cg7I'FC� L 011 �':T. � 01 � C OF }3�+,' AJ'10sV`�' ;
,seatiton, l.: -Lhat' their;c shall I,, o, issued by thcc , City of Beaumont.,
_Texas,, Aho. hondz, ;of. tho. said t. ity,$ tq be cal -ed "City, of Be,d moat
,c� bQe
ponds", far ths, purpose
of, 7aarror�iiz m�in�: `u, cera 'the
suah Money' to be used in
g Y 1;7 , :l
Sectlan, 2. said 'bands. shall,bp numbered conseoutively:from 1to
, :inclusive,. Mad &hkill ba of 'the denor+inati.oii o" One Thousand
{ �210404.00) 1io11az s each, ag ;regafin ; the, o4mi of
Thor}sand (.a�MoL�i Ddb-- ,p� .Dollares and shall: i1$ pr�ywhla �.Y±:.
lawful money of the United States of Ana rice.
Section, 36, r ..4aid. borids . hall. be dated . d ay . of,
A. 'b. 1906* and shall ba0ar ? tie.?:; _411a.�payuUle Forty
{40j year fran t:io`c do,ta, but tac ,rigi�.t is hereby e:pressly� reserved
by tha Gi,4 y of Beaum.oni .to ' redeem, said 1)onds, oi` air nimmber ther_cof, at,
any time after Twe tyr ('20) year -a from their date.
1"ict:Lon Said bonds shv_11.bear Interest from their date at �:.hc
r8u4 cif Freres (6%) per dent.'. per annum",' the iiilteroot Pa.y0ile. -o'ei1ii-annually,
o2n thy: day of �..�:�..�...... and the day of
a01 year, a,�ccording 'l;s the Cnor df. the interest,
coupons thereto at-aehed.
Section b. Principal, anis inter i , on said, bonds sha.11..be _payalAe
on._prooantati.on and sur re::�d::r of gond or' proper o01ki)oZi at ,the t?ifieo 4f
the City Treasurer of .. the City of Bewimont or.. at AILG
.-at.the option of the holder. �
r. _
Section, f•:.. Said bonds shell he sig6pd,by the' Mayor. counter..'
signed by the , Oit' secretary, ;ani - reg�.sterad. by "the C�.ty Treadurer� and .
the seal of the . City ,iAi.1. be :impr e s sed upon; r ach one "of them.. .
Section .7. The faa simile signatures- of the mayor and ,the City
Secretary shall be. lithographed on the couponwi
Section S.. It is further ordained by the City Counoil,.°;that .to'
` pay; the iziterest ' 6h, said, bonds, and ,create, a sinking fund suffzc�,ent to
discharge •them - at maturity a tax of
. _- ■ i . r i ■ ■ ■rrr.■orr ■fry
f -d J. centn •on each one hundred "4611 are
valuation of-all.-taxable -property in said City-of Beai.umont shall be anr.
nually levied on .•sad property and - annually assessed and collected until
said bonds and interest are paid; and said tax of 0"
sent-0 on the
one hundred dollars,-'out-of a tax of Pifty (.'54) Cents ,on each one, hundred
dollars property valuation levied to creats the' interest and -sinking fund
to pay the outstanding bonded indebtedneaa of .this Q, ty by this %%4&
,
Council on themeday of �`�! 1906,, (the or,;
II dinance making said levy being`df r cerd en, V&&'5J8� Bank ` of
the Ifinutes of" this Council), is hereby appropriated and , set aside" •to
pay.'the interest and create. the necessary sinning "fund for the current
year; and ' shall be assessed and collo ate,d and- so • applied; and said tams
or so much .t4ereoi as" v y be neeeseW.,,. is hereby levlod for. e9.0h gear
hereafter while said bonds, or, any number.-theteof� are', outstanding, and
the •same shall be annually assessed �Lnd collected. and.. applied t:o.. the pure
poses named.
Section 9. It is further ordained that the Mayor .bei. authorized
and he is hereby directed to -have prepared the,'
'bonds of the City-.of :Beeaumont ' of • the denomination_' of
3)o'llara each, • as above, described; and that the said Mayor be authorizet
to take - -and hsve charge of said bonds pesndi.ng , their investigation by' they
Attorney' General of the State of Texas, and upon their approval and reg-
ii6trwtio_n he shall proceed to sell the ' aama, at not less than" their fac' el.
var?:um; at pubiic or privaie sale, and the proceeds, of such gals shall bei
clepa it.�d t1a t3ie City Treasurer of the City of Beaumont' and it is here -
by de` she : du
y= of, the Hayor to provide ,that end bonds shall be
de3.i erec-tai purchaser in the- City of T�e.aumont and, payment for same
shalrl al sa ,be�ede in. the Ci
tj of Beaumont. x,-
��--%Pad .c an the . G ray of A. D: "1' OJ Approved by the
payor -4fr :the' n=zd.ay of .tea a�r`y` B. 1906. ,,
> .A.t test
L�tayor .
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