HomeMy WebLinkAboutORD 26-A-2AN ORDINANCE
Authorizing the issuance of bonds for the purpose of erecting a
Public Market House, on the west half of Block four (4) known as Parket
House Square, fronting Main Street in the City of Beaumont, and provid-
ing for the levy and collection of a tax to pay the interest and create
a sinking fund for the redemption of si4l bonds.
V,hereas at an election held for the purpose, on the 30th day of July,
A.D.1907, a majority of the qualified voters, who are property tax payers
of the City of Beaumont, Texas, voting at said election sustained the
proposition to issue the bonds hereinafter described by a vote of 204 for
the issuance of said.bonds, to a vote of 55 against the issuance of said
bonds, therefore:
Be it ordained by the City Council of the City of Beaumont:
Section L. That there shall be issued by the City of Beaumont, Texas, the
bonds of the said City to be called, City of Beaumont Market House Bonds:,
for the purpose of borrowing money upon the credit of this City, such
money to be used in erecting a Public Market House within the City of
Beaumont.
Section 2. Said Bonds shall be numbered consecutively from one to twenty
inclusive, and shall be of the denomination of one thousand (1000)dollars
each aggregating the sum of twenty thousand (20C;9000 ) dollars, and shall
be payable ii lawful money of the United States of America:
Section 3. Said Bonds shall be dated the lst day fo December, A.D.1907,
and shall become due and payable forty (40) years from their date, but
the right is hereby expressly reserved by the City of Beaumont, to re-
deem said.bonds or any number thereof, at any time after twnety (20)
years from their date.
Section 4.SSaid bonds shall bear interest from their date; at the rate
of five (51) per cent per annuls, the interest payable semi-annually, on
the first day of June and December, of each yes.r according to the tenor
of the interest coupons thereto attached:
a sinking fund for the redemption of sut'bonds.
Whereas at an election held for the purpose, on tYe 30th day -of July,
A.D.1907, a majority of the qualified voters, who are property tax payers
of the City of Beaumont, Texas, voting at said election sustained the
proposition to issue the bonds hereinafter described by'a vote of 204 for
the issuance of said.bonds, to a vote of 55 against the issuance of said
bonds, therefore:
Be it ordained by the City Council of the City of Beaumont:
Section 14 That there shall be issued by the City of Beaumont, Texas, the
bonds of the said City to be called, City of Beaumont Market House Bonds,,
for the purpose of borrowing money upon the credit of this City, such
money to be used in erecting a Public Market House within the City of
Beaumont.
Section 2. Said Bonds shall be numbered consecutively from one to..twenty
inclusive, and shall be of the denomination of one thousand (1000)dollars
each aggregating the sum of twenty thousand (201;9000'jdollars, and shall
be payable in lawful money of the United States of America:
Section 3. Said Bonds shall be dated the lst day fo December, A.D.1907,
and shall become due and payable forty (40) years from their date, but
the right is hereby expressly reserved by the City of Beaumont, to re-
deem said.bonds or any number thereof, at any time after twnety (20)
years from their date.
Section 4. Said -bonds shall bear interest from their date; at the rate
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of five (5°0) per cent per annum, the interest paya'bler semi-annually, on
the first day of June and December, of each year according to the tenor
of the interest coupons thereto attached:
Section 5. Principal and interest on said bonds shall be payable on pre-
sentation and surrender of bond or proper coupon at the office of the
City Treasurer of the City of Beaumont, Jefferson County, Texas,or at the
Oriental Bank of Nevr,,York City, New York at the option of the holders:
Section 6: Said bonds shall be signed by the Mayor, countersigned by the
City Secretary and registered by the City Treasurer and the seal of the
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City shall be impressed upon each one of them:
Section 7: The.facsimile signature of the Mayor and the City Secretary
shall be lithographed on the coupons: -
Section 8: It is furthef ordained by the City Council, that to pay the
interest on said bonds and create a sinking fund sufficient to discharge
them at maturity, a tax of one cent five mills and four tenths of a mill
(30154) on each One Hundred Dollars valuation of all taxable property
in said City of Beaumont,.shall be annually levied on said property,
and annually assessed and collected until said bonds and interest are
paid, and said tax of one cent five mills and Four tenths of a mill(20154)
on the One Hundred Dollars, out of a tax of fifty (50) cents on each One
Hundred Dollars property valuation levied to create the interest and sink
ing fund and to pay the outstanding, bonded indebtedness of this City
by this Council on the 7th day of May, A.D.1907, the ordinance making
said levy being of record on pages 431 and 432 of the Ordinance Book No.l
of said City is hereby appropriated and set aside to pay the interest
and create the necessary sinking fund for the current year, and shall
be assessed and collected and so applied; and said tax, or so much there-
of as may be necessary, is hereby levied for each year hereafter while
said bonds, or any number thereof are outstanding and the same shall be
annually assessed and collected and applied to the purposes named.
Section 9: It is further ordained, that the Mayor be authorized and he is
hereby directed to have prepared the Twenty bonds of the City of Beau-
mont of the denomination of One Thousand(1000.) Dollars each as above
described and that the said Mayor be authorized to take and have charge
of said bonds pending their investigationby the Attorney General of
the State of Texas, and upon their approval and registration, he shall
proceed to sell the same at not less than their face value at public or
private sale and the proceeds of such sale shall be deposited with the
City Treasurer of the City of Beaumont, and it is hereby mage thedduty
of the Mayor, to provide that said bonds shall be delivered to the pur-
(30154) on each One Hundred Dollars valuation of all taxable property
in said City of Beaumont,_shall be annually levied on said property,
and annually assessed and collected until said bonds and interest are
paid, and said tax of one cent five mills and Four -tenths of a mill(20154)
on the One Hundred Dollars, out of a tax of fifty (50) cents on each One
Hundred Dollars property valuation levied to create the interest and sink
ing fund and to pay the outstanding, bonded indebtedness of this City
by this Council on the 7th day of May, A.D.1907, the ordinance making
said levy being of record on pages 431 and 432 of the Ordinance Book No.l
of said City is hereby appropriated and set aside to pay the interest
and create the necessary sinking fund for the current year, and shall
be assessed and collected and so applied; and said tax, or so much there-
of as may be necessary, is hereby levied for each year hereafter while
said bonds, or any number thereof are outstanding and the sane.shall be
annually assessed and collected and applied to the purposes named.
Section 9: It is further ordained, that the Mayor be authorized and he is
hereby directed to have prepared the Twenty bonds of the City of Beau-
moat of the denomination of One Thousand.(1000.) Dollars each as above
described and that the said Mayor be authorized to take and have charge
of said bonds pending their investigation.by the Attorney General of
the State of Texas, and upon their approval and registration, he shall
proceed to sell the same at not less than their face value at public or
private sale and the proceeds of such sale shall be deposited with the
City Treasurer of the City of Beaumont, and it 3s hereby maite thedduty
of the Mayor, to provide that said bonds shall be delivered to the pur-
chaser in the City of Beaumont and payment for same shall also be made in
the City of Beaumont, Texas.
Passed bhe 17th day of September A.D.1907, approved by the Meyror on the
17thday fo September, A.D.1907.
Mayor.ry-_a/o n
At t e s t :L '
C t .Y :;`. cre aw€, c.txs�aB'eaumont •
AN ORDINANCE,
'Authorizing the issuance of bonds for the purpose .of erecting a Public
Market, House, on the west half of Block four(4) known as Market House
Square, fronting Main Street in the City of Beaumont, and pro,flding for
the levy% and collect:Lon of a tax to pay the i ntcrest. , and create a sink-
ing fund for the redemptloncfa scu. A_bonds.
Whereas at an election held a44� thepv.rpose, on the 3oth dair of Jul7r,A.D
1907) a Ina j ority of the clualif i.ed voters, who are. property tax ;nI.I7erS ' of
the City of Beaumont Texas voting at said election sustained the pr,�p-
osition to issue the bonds hereinafter described bar a rote of -2 4'
for the issuance of ,said bonds, to a vote of .- against the
issuance of said bonds therefore:
Be it ordained by the City Council of the City of Beauu-^ont
Section 1: That there shall be issued. by the City of Beaumont, Texas,
the bonds of the said City bo be called City of Beau),,iont Market House
Bonds, for the pur,jose of borrowing money up -an the credit of this City
such moneir to be used in erecting a Public Market House w:Lthin the
Citic of Beaui!iont.
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Section 2: Said Bonds shall be numbered consecutively from one to
twenty inclusive and shall be of the demominatlon of one thousand
(1000.00) dollars each aggregating the surZ of twenty thousand,.�($20�000.00)
dollars, and shall be payable in lalsful money of the United States of
America: '
Section 3: Said bo-ftds shall be dated the—/_ day of A.D.1907,
and shall become due and payable forty(40) Nears from their date, but
the right is hereby. expressly reserved by the City of Beau-gont, to re-
deem saki bonds or any number thereof, at any time after ttiventy Nears
(20) from their date.
Section 4: Said bonds shd11 clear interest from their date at the rate
Square, fronting Slain Street in the City of Be.au_2ont, and pro,riding for
the levi% and collection of a lax to nay the interest and create a sink-
ing fund for the redempti.onaf@, slu .bonds.
Whereas at an election held the ru,rpose, on the 3oth day of TuD;,,A.D
1907) a majority of the q,u�a? if zed voters, who are property ta_x ncLJerS of
the City of Beaiunont, Texcbs, voting at said election sustained th e prr,p-
osition to issue the bonds hereinafter described by a vote of -2
for the issuance of said bonds, to .a vote of—tLL against the
issuance of said bonds therefore:
Be it ordained by the City Council of the Cite of Beau- ont,
Section 1:
That
there
shall be
issued,by the
City of Beaumont,
Texas,
the bonds
of the
said
City to
be called City
of Beauyiiont Market
House
Bonds, for the pur-ose of borrowing money upon the credit of this City
such money to be users in erecting a Public Market House within the
Cite of Beaumont.
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Section 2: Said Bonds shall be numbered consecutively from one to
twenty inclusive and shall be of the demomination of one thousand
($1000.00) dollars :each aggregating the sum. of twenty thousand((?.0,000.00
dollars, and shall be payable in lawful mone- of the United States of
America:
Section 3: Said bonds shall be dated the of A.D.1907)
and shill become due and -payable forty(40) years from their date, but
the right, is herebir.expressly. reserved her the .Cit�T of Beatu_zont, to re-
deem said bonds or any number thereof, at any time after twenty gears
(20) from their date.
Section 4: Said bonds shall dear interest from their date at the rate
of five (5P per cent per annum, the interest payable semi- annually,
on the first day of �{ of each Near, accord?.ng .to the �
tenor of the interest coupondf\attached:
Section 51 Princ;i,-'al and --interest on said bonds shall be payable on
presentation and ,surrender of bond or proper coupon at the office of
the City Trc2 `` , er of the City of Beaumont, Jefferson Counter, Texas,
e
or at the Bank of Neter York, City, New Yor'c, at the
option of the holders;
Section 6: Said bonds shall be signed by the Magor, countersigned bar
the City Secretary and registered by the City Treasurer and the seal
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of the City shall be impressed upon each one of them;
Section 7: The fe.csimile signature of the Mayor and the City Secretary
shall be lithographed on the coupons;
Section 8:It is fu her ordained by the City Council that to pay the
interest on said bonds and create a.sinking fund sufficient to dis-
charge them,at maturity,,a tax of one cent five mills and four tenths
of a mill(.0154) on each one hundred dollars valuation of all. taxable
property in said City of Beatmiont shall be annually levied on said
property, and annullly assessed anA-collected until said bonds and in-
terest are paid, and said tax of one cent five mills and four tenths of
a mill .(0154) on the one hundred dollars out of a tax of fifty (50)
cents on each one hundred dollars roperty valuation levied to create
the interest and s king fund a,nc�'pay the outstandinwndebtedness
of this City by this Council on the 7th day of May, A.D.1907., the
ordinance making said levy being of record on rages 431 and 432 of the
ordinance book of said City. is .hereby appropriated and set aside to
pay the interest and create the necessary sinking fund oif the current
year, and e shall be assessed and colle cted and so applied; and
said tax, or so much thereof as may be necessary, is hereby levied,
for each year hereafter while said bonds, or any number thereof, are
outstanding and the same shall be annually assessed and collected and
aplied.to the purposes named.
Section 9: It is futher orda.3.nPcZ that the Nayor be authorized and he
is hhreby directed to have prepared the twenty bonds of the City'of
Beaumont, of the denomination .of one thousand($1000.00) dollars each as
above described and that the, Mayor be authorized to take and have charge
of said bonds pending their investlgatinn b -r the Attorney General of
Section 7: The facsimile signature of the Magor and the City Secretary
shall be lithographed on the coupons;
Section 8:It is futher ordained by the City Council that to pay the
interest on said bonds and create a.sinking fund sufficient to dis-
charge them at maturity,,a tax of one cent five mills and four tenths
of a mill(.0154) on each one hundred dollars valuation of all. taxable
property in said. City of Beaumont shall be annually levied on said
property, and annullly assessed anA-collected until said bonds and in-
terest are paid, and said tax of one cent five mills and four tenths of
a mill .(0154) on the one hundred dollars out of a tax of fifty (50)
cents on each one hundred dollars roperty valuation levied to create
the intorest and sok ing fund anci'p ay the outstanding^indebtedness
of this City by this Council on the 7th day of May, A.D.19071 the
ordinance making said levy being of record on rages 431. and 432 of the
ordinance book of said City.is hereby appropriated and set aside to
pay the interest and create the necessary sinking fund of the current
year, and Cr_shall be assessed and colle cted and so applied; and
said tax, or so much thereof as hna-%T be necessary, is hereby levied,
for each year hereafter while said bonds, or any number thereof, are
outstanding and the same shR11 be annually assessed and collected and
applied.to the purposes named.
Section 9: It is fxx her orda3.ne(l that the Magor be authorized and he
iL
is hhreby directed to have prepared the twenty bonds of the City of
Beaumont of the denomination of one thousand($1000.00) dollars each as
above described and that then Mayor be authorized to take and have charge
of said bonds pending their investlgatlnn b -r the Attorney General of
the State of Texas, and upon their approval and registration he shall
proceed to sell the same at not less than their face value at public
or private sale and the proceeds of such sales shall be deposited with
the City Treasurer of the City of Beaumont, and it is hereby made the
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duty of the Magor to provide that Said bonds shall be delivered to -the
purchaser in the City of Beaumont and payment for same shall alio be
made in the City of Beaumont, Texas.
Passed the_ % y of of d — A.B.1907, approved by
the Payor on the/ % day of A.7J.1907.
or 7177y o_ ea"L7on
Attes
_
Ci• cre ary o.
C ty of Beaumont.
The State of Texas,
County of Jefferson. Y
To the Honorable Mayor and City Council. of the City of Beaumont;
Gentleynen:
Your eon ittee, to whom was referred the above -and :fore-
going ordinance, beg to report that it has considered same and re-
commend that it be adopted and duly passed by this Council.
This 17 th day of September, A,,,P. 1907.
G
_if I - fJ /x-,, r.
ordinance Committee,, ---
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