HomeMy WebLinkAboutORD 99-C1
l0 f A LI
1 �
AN ORDINANCE.
Entitled an ordinance authorizing and directing the proper
officers of the City of Beaumont, named therein, to forthwith
prepare and execute and to negotiate and deliver from time to
tune as necessities require, legal and binding obligations of
the City of Beaumont, -in the -form of _Deficiency Warrants-, des-
cribed 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 ordi-
nance , appropriating an equal port ion' of the revenues of the
City of Beaumont apportionable to the several departments
affected,- for the yearA921, for the payment and discharge of
said warrants and declaring -an emergency.
WHEREAS, the city of ,Beaumont, pending- the collection of
current tax revenues from all sources, being proper proportion
of the taxes for the year 1921, is without funds wherewith to
pay its obligations accmued and tp be incurred for the -
operation of the several departments of the city government,
and in order to acquire funds wherewith to �efray expenses of
all departments of . the government, pending he collection of
the said revenues, it is necessary that the City of Beaumont
borrow money in addition to the 210,000.00.arranged for by
ordinance passed February 15, A. 'D. , 1921, and in addition to
the $30,000.00 arranged for by ordinance passed September 1st.
1921, in the amount hereinafter named and upon_ the faith and
credit of said city, and to anticipate and pledge an equal
portion -of the- current :tax revenue of -the City for the year -
1921.
BE IT THEREFORE ORDAINED BY THE CITY COI1PLISSION
OF THE CITY OF. BEAUMONT.:
- SECTION to
That • B. A. Ste inhagen, - Mayor of the City of Beaumont,,
be and he is hereby authorized and directed -to forthwith prepare,
or have prepared, and to execute, together with the City -Clerk,
anel to b)e countersigned by the City hhanager, legal and binding
oblige, tions of the City of Beaumont, in the form of and evidenced
by Deficiency Warrants, dated on the date or dates when negotiated,
and delivered from time to time. as hereinafter provided, payable
to "BEARER", Febrtary 10th, 1922, bearing 6% interest from their
date until paid, which said warrants shall be and are hereby
secured by the legal and binding pledge and hypothecation of
Seventy-five Thousand (75,000.00) 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
t
to IS -i z"I
n2•
relating to such departments as hereinafter set forth; the
said deficiency warrants to be
.paid and retired out of. the
first(_a:i revenues collected for the year 1921 for the, opera-
tion of and application_ to the several departments 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
baoney for the payment of existing obligations, and 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 collected :sufficient moneys from the source
above mentioned wherewith to pay off, discharge and retire such
warrants, together with accrued interest thereon.
And there is here and now appropriated and set aside
out of the first moneys so to be collected above mentioned and
apportioned among the, several departments as below shown, a sum
sufficient wherewith to pay off and -discharge all of such de-
ficiency warrants as may be so issued and negotiated t o . the then
owners and -holders thereof; provided, h6wever, the total amount
of such warrants of this issue shall not exceed the. sum of
Severity -five Thousand (OV75,000.00) Dollars.
The said deficiency warrants shall be in the following
form, -to-wit:
The State of Texas, Beaumont , Texas.
County of Jefferson 192,
On February 10th, 1922, after date, pay to the order
Of "BEARER"
To the Treasurer )
City. of Beaumont. )
Countersigned:
TY P idIAGER.
)D ollarso
DIAYOR
ATTEST'
CITY CLERK. -
r - . 4=5�-
r:
f f i_k'i t _ ...�T•
'r
This warrant is one of a s�,ries of several '�.arrants
authorized by the City Coininission of the City of Beaumont, by
ordinance cl ly passed on February 15th, �_.D., 1.921, and. is
payable out of the tax levies for the year 1921, and chargeable
to the particula-r fvsld or aepart: nt to which it applies ,vhen
collected.
This wa,rrar t bears interest at the rate of 6% per
annum from its date until -paid.
Pach warrant shall carry on its face the mane of the
department to which it relates.
The par-icalar deorirtments ar_�, funds of the City Govern -
Trent, for the operation of which said funds as are hereby raised
for
the support, m4lnten:.nce and operation of said departments
from which said �mrrants shall be paid, and the a,moirnt to be
taken therefrom for that -purpose shall be and ure accord.in�; to
the follortli.ng table:
Department
of
Finance,
3,000..00
General Puna
4,000.00
Department
of
Safety
35,000.00
Dero�jrtment
of
public Service
30,000600
Departal-ont
of
`,''el -are
3,000.00
The said warrants shall be duly registered before beim
negoti.;-,tea, by the Director of the Department of Finj.nce.
"'CUICN 2.
That the fact that the City of :3eaiLmont is without fund;
now to aischArge the ciirrent obli: ations incurred for the main-
LD
tenarice and operation of the several departi~Ients of govern-ment,
without at once anticipating tna rledging Sevenyy-_five T:yotzsunI
p75,000.00) Dollars of the tax- revenue of 1921, for the rmaintenanc,:
and operation of the several departments mentioned in this ordinance
cre&.tes an iii-perative public emergency, neceosita.ti_ng the suspen-
sion of the rule--oeUuiring that all ordinances shall be read or-
-three
n-th.ree (3) separate days before passage, wi—Perefore saic.. rule is
hereby su.s'-ena-ed, and thpi s �JrdiYlc^nci e shall �ta:l-e effect 17pon --its-
-
-Tis- — --
passage an0. is1gn%.t1 Ce o1. the 1YLayCrs
Passed , A.D . , 1.921.