HomeMy WebLinkAboutORD 92-C4 ;
A N O R D I N A N C E -
Entitled an ordinance authorizing and directing the
proper officers of the City of Beaumont, named therein, to forth-
with prepare and execvtte= and to negotiate and deliver from time
to time as necessities require, legal and binding obligations of
of the City of Beaumont, in the form of Deficiency Warrants,
described in this ordinance, for -the purpose of defraying the
current expenses , for the maintenance- and operation -of the several
departments of the government mentioned in said ordinance.
appropriating an equal portion. of the revenues of the City of
Beaumont apportionable to the several departments affeeted,for
the -4,,'1'9'21, for the payment and discharge of said warrants and
declaring an emergency.
VffM4 EAS , the city of Beaumont, pending the collection
of current tag revemues from all sources, being proper proportion
of the taxes for the year 1921, is without funds wherewith to pay
its obligations accrued and to be incurred for the operation of
the several departments of the city government, and in order to
acquire funds wherewith to defray expenses of all departments of
the government, pending the collection of the said revenues, it
is necessary that the CCity of Beaumont borrow money in addition
to the $210,000.00,qarranged for by ordinance passed February 15 ,
A. D. 1921\Iin t e amount hereinafter named and upon the faith
and credit bf sa�.d city, and to -anticipate and pledge' an equal
portion of the current tax revenue of the City for the year 1921.
BE TT -THEREFORE ORDAINED BY THE; CITY COMMISSION
OF THE CITY OF BEAUMONT:
SECTION 1.
That -B. A.Steinhagen, Mayor of the City of Beaumont,
• t}
be and he is hereby authorized and directed to f-orthwith pr epare,
or have prepared, and to execute, together with the City Clerk and
to be countersigned by the City Manager, legal and bfan.ding obligations -
of the City of Beaumont, in the form of and evidenced by Deficidn.ey
Warrants, dated on the date or dates when negotiated, and delivered
from time to ' time as hereinafter provided, payable to "BEARER",
February 10th, .1922, bearing 6� -interest from their date until paid;
which said warrants shall be and are hereby secured by the legal
fir=. -1` E^%
and binding pledge and hypothecation of Thirty ThouB and ($30,000.00)
Dollars, of the current tax revenues of the City of Beaumont for
the year 1921, as applied to the funds of the particular departments
and in the amounts relating to such departments as hereinafter set
forth; the said deficiency' warrants to be paid and retired out of
1
the first' -tax revenues collected for the- year 1921 for the
operation of and application to the several deaprtments of the
city government, as hereinafter -set forth:
The said warrants shall be executed, negotiated and
delivered. as and when it is requisite and necessary to raise money
for the payment of existing- obligations, rand for defraying the
current expenses for the operation of the several departments of the
government., as hereinafter set forth, until, such time as there shall
have been c-olle ct ed suf fie ient moneys from the -soiree above mentim ed
wherewith to pay off, discharge and retire such warrants, together
with a ccrued interest thereon.
And there is here and now appropriated and set aside out
of the first moneys so to be collected above, mentioned and apportion-
ed among the several departments as below shown, a sun sufficient
wherewith to pay off anddischarge allof such deficiency warrants
as may. be so issued and negotiated to the then owners and holders
thereof;provided,however,the total -amount of such warrants of this
co f S�� 4r3
issue shall not exceed the sum of tiArty -Thousand (30,000.00 )Dollars.
The said deficiency warrants shall be in the, following
form, to -wit:
The State of .Texas,
County of Jefferson
Beaumont, Texas*
192
On February 10th, 1922,a#er date,- pay to the
order of "BEARER"
( ) Dollars.
To the Treasurer, j - -
City of Beaumont. )
MAYCE
ATTEST:
CITY CLEIM.
Counter -signed:
CITY MANAGER
This warrant is -one -of a series- of several warrants
authorized by the City Commission of the `City of Beaumont,- by
ordinance duly passed of February 15th, A.D.1921; and is payable
out -of the -tax levies for the year 1921, and chargeable to the
particular fund or department to which it applies when -collected.
This warrant bear's interest at the rate of 6% per
annum from its date until paid.
Each warrant shall carry on its face the name of the
department to which ti relates.
IThe particular departments -and funds of the City
government, for the operation of which said funds as are hereby
raised for the, support, maintenance and operation of said.departments
from which said warrants shall be paid, and the amount to be taken
therefrom -for that purpose shall be and are according to the..
following table;
Department
of
Finance,
0
General , Fund,
� � ,lei !-� a�„ �-•�.
2, 000.00
Department.
of
Safety
15;500.00`-���
Department
of
Public 6ervice 10;000.00ct vt
Department
of
-Welfare-.
'29500.00 v • ` `
The said warrants shall be-
duly registered before
being negotiated, by the
Director of the
Department.of Finance.
SECTION 2.
That the fact that the City of -.Beaumont is -with out
funds now to discharge the current obligations incurred for the
maintenance and operation of the several 'departments of government,
without at once anticipating and pledging Thirty Thousand (30;000.00)
Dollars of the tax revenue -of 1921 for the maintenance and ,operation
of the several departments mentioned in this ordinance creates an
` - imperative -public emergency, necessitating the suspension of the rule
requiring that all ordinances shall be -read on three (3) separate dais
before passage,wherefore said rule is hereby suspended,and this
ordinance -shall take effect upon its passage and signature of t he Yap r.
' Passed S.eptemb;er lst, g.L.1921. -