HomeMy WebLinkAboutORD 51-EE/ e C,
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AN ORDINANCE
ENTITLED AN ORDINANCE'AUTHORIZING THE.CITY
MANAGER TO EXECUTE A CONTRACT WITH FRANK-J.
ZUMMO! ET ALA FOR THE PURCHASE OF A 1.571--ACRE
TRACT OF LAND? MORE FULLY DESCRIBED HEREIN;
AND PROVIDING.FOR THE LEVYING AND COLLECTING
OF THE TAX NECESSARY TO PAY THE INTEREST AND.
CRE,EATE .A SINKING FUND TOPAY THE PRINCIPAL -ON_— _
THE PURCHASE PRICE.OF SAID LAND.
WHEREAS_., the. "City Council finds that it is necessary to
acquire the fee simple title to a 1.571--acre tract of land in.Lot
No. 5 of the Scharbauer Addition.1 in the J. W. Bullock L.eague.,
Abstract No. 7, City -of Beaumontp Jefferson County., Texas said
tract fronting 180 feet on Washington.Boulevard., for the purpose
of using said land for municipal purposes; and,
WHEREAS., the City, Council finds that the sum of $12,�500.00
represents the"fair cash market value of said property; ands
WHEREAS., Frank J. Zummo., John F. Zummo., Peter F. Zummo�
Marron F. Zummo.� Roy Lee Zummo, and Mary Frances Ma da are the,
owners.of said land and are willing to. sell the same to The City of
Beaumont for the sum of money above set forth;'andA
WHEREAS,, a contract for,the sale of said land to The City
of Beaumont has.been prepared and the City Council finds that it
is in the best interest of the City to.,exe.cute same; and.,
WHEREAS:, the purchase price of said land will be paid with
a time warrant payable two (2) years after date of issuance and
bearing interest at the rate of 3.% per annum...-issued by The City
of Beaumont pursuant to authority granted by the Constitution and
Statutes of the State of Texas,
NOW., THEREFORE, BE IT ORDAINED BY THE CITY OF BEAUMONT.,
TEXAS:
Section 1.
That A. K. Steinheimer, City Manager.,be, and he is hereby,, author-
ized to execute the contract with Frank J. Zummo� et al..for the
sale of the above described tract of land to The City of ,Be7000
for the sum of $.12.,50.0.00.
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Section 2.
That for the purpose. of paying the interest on said pur-
chase price and to create a sinking fund to -pay the principal-pn
same., a sufficient tax -on each One Hundred ($100.00) Dollar valu-
ation of all taxable property,in The City of Beaumont Texas.,
shall be annually levied on said.property and annually assessed
and collected and applied to the purpose named.
PASSED by the.City Council this 6th day, of November.,A.D.
1962.
$12,500.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF JEFFERSON
CITY OF BEA10)MONT
LAND PURCUASE WARRANT
IGi10W ALL MEN BY THESE I PIE SENTS : That The City of Beaumont,
of Jefferson County, Texas, under and by virtue of a valid contract
and the conveyance to it of the hereinafter described land acknow-
ledges itself justly indebted to and hereby promises to pay to Frank
J. Zummo, John F. Zummo, Peter F. Zummo, Marion F. Zummo, Roy Lee
Z"tzmmo, and Mary Frances Maida
TWELVE THOUSAND FIVE HUNDRED DOLLARS
($12, 500.00) in lawful money of the United States of America .on or
before November 6, 1964, with interest thereon from the date hereof
until paid, at the rate of three per cent 0%) per annum,,.the inter-
est being payable on or before November 6, 1963, and on or before
November 6, 1960 and the Director of Finance of The City of Beaumont,
Texas is hereby authorized, ordered and directed to pay to the order
of Frank J. Zummo, John F. Zummo, Peter F. Zummo, Marion F. Zummo,
Roy Lee Zummo, and Mary Frances Maida, their heirs and assigns, on
or before November 6, 1964s the date of maturity of this warrant, the
sum of Twelve Thousand.Five Hundred ($12,500.00) Dollars, and shall
pay the respective interest instalments on or before the date same
become due.
Both principal and interest of this warrant are payable at
the office of the Director of Finance of The City of Beaumont, Texas,
and The City of Beaumont, . Te,:as, is hereby held and firmly bazmd,
and its full faith and credit and all tamable real and personal prop-
erty therein are hereby pledged for the prompt payment of the prin-
cipal and interest of this aw°arvant as it sutures.
This warrant is issued for the purpose of paying the purchase
price, under a contract with Fran: J'. Zummo, et al, of the following
described tract of land, to viit ;
M
A 1.571-acre tract of lend in Lot No. § of the Sehar-
br-auer Addition in the J. VJ. Bullock League, Abstract
No. 7, Ci.ty.9f Beaumont,. Jefferson County, Texas,
said tract fronting 180 feet on Washington Boulevard.
This warrant is issued under and. by virtue of the Constitu-
tion and.Uws of the State of Texas and the Charter of The City of
Beaumont, and in.strict conformity with Article 2368a, and the amend-
ments thereto, of the Revised Civil. Statutes of Texas. It is hereby
certified and recited that the issuance of this warrant is duly
authorized by law, pursuant to an ordinance passed by the City Coun-
e l of The City of Beaumont, Texas, on the 6th clay of November, 1962.
It is hereby certified, recited, and declared that the -issu-
ance of this warrant is duly authorized by law and that all acts,
conditions and things required to be done precedent to ,and in tll-ne
issuance of this warrant have been properly done, have happened and
been performed in regular.and due time, form, and manner as required
by law; that sufficient and proper provisions for the levying and
collection of an ad valore i tax have been made, which, when collected,
shall be appropriated exclusively to the payment of this warrant and
tine interest upon same, and that the total indebtedness of The City
of Beaumont, including this warrant, does not exceed any constitutional
or statutory limitation.
It is hereby recited, certified, and declared that the addi-
tional tax levied and mAde necessary to,be levied in order to provide
for the interest and principal of -this warrant, together with the
rate of tar, existing at . the time of the issuance of this warrant, is
within the limitations of the Con sti tution and Laws of the State of
Texas and the Charter of The City of Beaumont.
The date of this warrant, in conformity with the ordinance
above mentioned, is November 6., 1962.
In witness whereof the City Council of The City of Beaumont,
Texas, has caused the corporate seal of The City of Beaumont to be
affixed hereto and has caused,this warrant to be signed by its Mayor
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