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HomeMy WebLinkAboutORD 7-AAN ORDINANCE. _ An ordinance authorizing the issuance of bonds for the purpose of repairing a building or structure for the build- ing of which, bonds are allowed to be issued, to -wit: - The repairing of the Q0.1FQrr�dpublic school house, c located in the 2nd ward of the City of Beaumont and known as the co:lvreischool110tia.3, number 3 and providing for the levy and collection of a tax to pay the interest and create a sinking fund for the redemption of said bonds at maturity. BE IT ORDA MED BY TIMI, CITY COUNCIL OF THE CITY OF BEAUMONT , TEXAS : SECTION I. That the bonds of said City to be called " City of Beaumont School House Repair Bonds," to issued under and by virtue-, of Article 927, Revised Statutes of Texas, 1911, for r- �' the.purpose of repairing thecolgredpublic school house located in the 2nd ward of the City of .Beaumont and known as col;.ox:ed public school house number 3. SECTION II - Said I.Said bonds shall be numbered consecutively from 1 to 19 inclusive, shall be of the denomination of $ 100.00 each and aggregating the sum of $1200::000 SECTION III. They shall be dated the_ first day of October 1913, shall become due and payable one year from their date but maybe redeemed at the pleasure of the City at any time from their date. _1 SECTION IV. They shall bear interest at the rate of 5 a per annum payable semi-annually on the first day of April and first day of October . SECTION V. A U1 LkU U141 Q 1 Vl L ing of which, bonds are allowed to be issued, to -wit: The repairing of the QoArox,�3dpublic school house , o located in the 2nd ward of the City of Beaumont and known as the co:.ovredschool ;Y:at%;sd ; ,- number 3 and providing for the levy and collection of a tax to pay the interest and create a sinking fund for the redemption of said bonds at maturity. BE IT ORDA MED BY THE CITY COUNCIL OF THE CITY OF BEAUMONT,TEYAAS: SECTION Ie That the bonds of said City to be called " City of Beaumont School House Repair Bonds," be issued under and by virtne:� of Article LAS Revised Statutes of Texas, 1911, for r, the.purpose of repairing thecolorredpublic school house located in t he 2nd ward of the City of Beaumont and known as ao .or:ed public school house number 3. SECTION II. Said bonds shall be numbered consecutively from 1 to 19 inclusive, shall be of the denomination of $ 100.00 each and aggregating the sum of $1200i000 SECTION III. They shall be dated the first day of October 1913, shall become due and payable one year from their date but maybe redeemed at the pleasure of the City at any time from thsir date. SECTION IV. They shall bear interest at the rate of 5 o per annum payable semi-annually on the first day of Apr i.l and first day of October. SECTION V. Principal and Interest shall be payable oripresentation and surrender of bond or proper coupon at the office of the CITY TREASURER of the City of Be aumant . FILED THIS THE DAY IT .SEGRETARY. '�: #2. tea. 7_,q 0 SECTION VI. Said bonds shall be signed by the Mayor, countersigned by the City Secretary and registered by the City Treasurer and the seal of the City shall be imppvssed upon each of them. SECTION VII• The fac simile signatures of the Mayor and City Secretary may be lithographed on the coupons. SECTION VIII. It is further ordiined by the City Council that to pay the interest on said bonds and create a sinking hind sufficient to discharge them at maturity, a tax of w,,,& cents on each $100.00 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 o*4njp_ cents on the 5 100.00 out of a tax of Q.. cents levied for the payment of interest and creation of sinking. fund on the outstdnding bonded indebtedness of the City of Beaumont by this CounQil on the day of 9n ( the ordinance making Chid levy being of record on page book .; `sof the Mintitas of this Countil) 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 taxe Thereby levied .for each year hereafter while said bonds are outstanding and the same shall be annually assessed and collected and applied to the purposes named. SECTION IAC. It is also or dained . that the Mayor of the City of Beaumont be authorized to take and have chargeof said bonds �.., ti-, .7 r, . - l•, n o m i t -m n c, 4 rr o+ 4 n -n 'K -m + h m A++ n r n A -u a n n n r n l P -n rl ri -n n gne a oy tine mayor, countier signe by the City Secretary and registered by the City Treasurer and the seal of the City shall be imp passed upon each of them. SECTION VII. The fac simile signatures of the Mayor and City Secretary may be lithographed on the coupons. SECTION VIII. It is further orddined 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 cents on each $100.00 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 oy� cents on the 100.00 out of a tag ofd - cents levied for the payment of interest and creation of sinking -fund on the outstdnding bonded indebtedness of the City of Beaumont by this Council on the clay of, 1913 ( the ordinance making Chid levy being of record on page book � sof the Mintte.s of . this Council) is hereby appropriated and set aside to pay the interest and createthe necessary sinking fund for the current year and shall be assessed and collected and so applied and said taxa `hereby levied _for each year. hereafter while said bonds are outstanding and the same shall be annually assessed and collected and applied to the purposes named. SECTION IY. It is also or dained that the Mayor of the City of Beaumont be authorized to take and have chargeof said bonds pending their investigation by the Attorney General and upon their approval and registration shall have authority to negotiate the-Zr sale_ and receive for the City the proceeds thereof. ' !~: Passed on the h day ad October A•D>1913, _- Approved on the day of Octobeerr A.D.1913. ATTEST �_ _ May r i y Secretary. Beaumont , Texas, Dct . 8th, 1913. Hon.liayor & City Council, C I T Y, Gentlemen: - We your Ordinance Committee to whom the attached o:•dinance was referred, beg leave to report that after careful c ons iderat i adoption of same. 0 nance Committee.