Loading...
HomeMy WebLinkAboutORD 53-EEa. ;- r AN .ORDINANCE ENTITLED AN ORDINANCE AUTHORIZING AND DIRECTING. THE ISSUANCE OF A TIME WARRANT OF THE CITY OF BEAUMONT., TEXAS, UNDER THE PROVISIONS OF THE "BOND AND WARRANT LAW OF 19311t, BEING ARTICLE 2368a OF THE REVISED CIVIL STATUTES OF TEXAS,,AND.ALL AMENDMENTS THERETO., FOR THE PURPOSE OF PURCHASING A TRACT OF LAND IN THE W. B. DYCHES,SURVEY, MORE FULLY DESCRIBED HEREIN, SAID WARRANT TO BE DATED NOVEMBER 2E0,1962, TO MATURE AS HEREIN SET FORTH, AND BEARING INTEREST AT 3% PER, ANNUM; PRESCRIBING THE FORM OF SAID WARRANT; PROVID- ING FOR THE LEVYING AND COLLECTING OF THE TAX NECES- SARY TO PAY THE INTEREST AND CREATE A SINKING FUND TO PAY THE PRINCIPAL OF SAID WARRANT AS IT MATURES; AUTHORIZING AND DIRECTING THE MAYOR AND THE CITY CLERK TO EXECUTE SAID WARRANT AND TO IMPRESS THE CORPORATE SEAL, OF THE CITY OF BEAUMONT THEREON, AND TO DO ALL OTHER THINGS NECESSARY IN CONNECTION WITH DELIVERY THEREOF; PROVIDING FOR THE CUSTODY OF SAID WARRANT PENDING ITS DELIVERY; PROVIDING THAT THE CITY COUNCIL CERTIFIES AND AFFIRMS TO FIRST SECURITY NATIONAL BANK OF BEAUMONT: TEXAS, THAT THE SAID WARRANT IS A VALID WARRANT; AND REPEALING ALL ORDINANCES AND PARTS OF ORDINANCES IN CONFLICT HEREWITH., AND PROVIDING FOR SEVERABILITY. WHEREAS, The. City of Beaumont has entered into a contract with Mary Lampman Lee Godeaux and husband, Elton E. Godeaux, owners of a tract of land in the W. B. Dyches. Survey, more fully described herein, to purchase said land and will pay the purchase price there- of with a time warrant issued by The City of Beaumont pursuant to authority granted by the. Constitution and Statutes -of the State of Texas; and, WHEREAS, the City Council has determined that it is now nec- essary and proper to. execute and deliver the said time warrant to the owners.of said land in order to obtain a deed to the land; and, WHEREAS, First Security National Bank of Beaumont, Texas, the depository of The City of Beaumont, has agreed with said owners to accept the assignment of the said time warrant and pay to the owners the cash represented thereby; NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF BEAUMONT, TEXAS: Section 1. That The City of Beaumont., Texas, shall issue a warrant as hereinafter described, for and on behalf of and upon the credit of The City of Beaumont, Texas, in the principal amount of Four Thou— sand Two Hundred and Fifty ($4,250.00) Dollars, payable to -the order of Mary Lampman Lee Godeaux and husband, Elton E. Godeaux, for the. purpose of paying the purchase price of the tract of land described .in Section 2 herein. The said warrant shall.be dated November 2.0, 1962,'and shall mature and be payable on or before November 20, 1964-, The warrant shall bear interest.'at the rate of three per cent (3%) per annum, and the said interest shall be payable on .or before Nov- ember 201 1963, .arid on or before November 20, 1964. The principal on said warrant shall be payable upon presentation and surrender of the warrant at the office of the Director of Finance of The City of Beaumont, Texas, and the respective interest instalments shall be payable at the office of the Director of Finance as they become due. Section 2. That the said warrant shall be in the following form: 't$4, 250.00 "UNITED S.TATES.OF AMERICA STATE. OF TEXAS COUNTY OF JEFFERSON. CITY OF BEAUMONT LAND PURCH.ASE.WARRANT ITKNOW ALL MEN BY THESE PRESENTS: 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 acknowledges itself justly indebted to.and hereby promises to pay to Mary Lampman Lee Godeaux and husband, Elton E. Godeaux FOUR THOUSAND TWO HUNDRED AND FIFTY DOLLARS ($4,250..00) in lawful money of the United States of America on .or before November 20, 1964, with interest thereon from the date hereof until paid, at the rate of three per -cent (3%) per annum, the interest being pay- able on or before November 20, 1963, and on or before November 20, 1964; and the Director of Finance of The City of Beaumont, Texas, is hereby authorized, ordered and directed to pay to -the order.of Mary Lampman Lee Godeaux-.and husband, Elton E. Godeaux, their heirs and assigns, on or before November 20, 1964, the date of maturity of this warrant, the sum of Four Thousand Two Hundred and Fifty .($4,250.00) Dollars, and shall pay the respective interest instalments.on or before the date same become due. 2. A. Z- "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, Texas' is h-ereby held and firmly bound, and its full faith and credit and all taxable real and personal property therein are hereby pledged for the prompt payment of the princi- pal and interest of this warrant as it matures. ttThis warrant is issued for the purpose of paying the purchase price, under a contract with Mary Lampman Lee Godeaux, et vir, of the following described tract of land' lying'_:and being situated in The City of Beaumont, Jeffer- son County, Texas, to wit: ttlAll that certain -tract or parcel of land, a part of the W. B. Dyches Survey, in Jefferson County, Texas, described by metes. and bounds as follows, to wit: ttBeginning at the intersection of the East line of Lamp - man Drive with the South line of State Highway No. 105; ttThence ,South along the East line of 'Lampman Drive 168.97 feet to stake for corner; ttThence East parallel to the South line of State Highway 105, 150 feet to stake for -corner; ttThence North 168.97 feet to the South line of State Highway 105; ttThence West along the,So.uth line of .State Highway 105, 150 feet to the -place of beginning, and being out of the North 1/2 of Lot No".. Four ( ¢ ) of a subdivision -of the G. R. and Frances Buckner Homestead tract in said W. B. Dyches Survey.f "This warrant is.issued under and by virtue of the Con- stit.ution and Laws of the State of Texas and the Charter of The City of Beaumont' and in strict conformity with Article. 2368a, and the amendments thereto' of the Revised Civil Statutes of Texas. It is hereby certified and re- cited that the issuance of this warrant is duly author- ized by law, pursuant to an ordinance passed by the City Countil of The City of Beaumont, Texas, on the 20th day of November, 1962. "It is hereby certified, recited, and declared that the issuance of this warrant is duly authorized by law and that all acts, conditions, and things required to be done precedent. to and in the 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 levy- ing and collecting of an ad valorem tax have been made, which, when collected shall be appropriated exclusively to the payment of this warrant and the 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 additional tax levied and made necessary to be levied in -order to provide for the interest and principal of 3 .. ,A . this warrant, together with the rate of tax existing at the time of the issuance of this warrant, is within the limitations.of the Constitution and Laws of the State of Texas, and the. Charter of The City of Beaumont. ttThe date of this" warrant' in conformity with the -ordi- nance above mentioned, is. November 20, 1962. ttIn 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 and countersigned and attested by its City Clerk, on this 20th day of Nov- ember, 1962. "Mayor of'The City .of Beaumont, !!-Attest: Texas. City Clerk of The City of Beaumont, Texas.tt Section 3. That for the purpose of paying the interest on said Land Purchase Warrant and tocreate a sinking fund to pay the principal on said warrant when the same matures, a sufficient tax on each One Hundred ($100.00) Dollar valuation 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. Section 4. That said warrant shall be signed by the Mayor and counter- signed by the City Clerk of The City of Beaumont, Texas, and the corporate seal of The City of Beaumont, Texas, shall be impressed upon said warrant. Section $. That the City Manager of The City of Beaumont is.hereby dir- ected, after the said -warrant has.been properly executed as herein - above provided, to keep the said warrant in his custody to be deliv- ered by the City Manager to Mary Lampman Lee Godeaux, et vir, when it is necessary to pay them under the terms of the contract for the purchase of the above described tract of land. The Mayor and the City Clerk are authorized and directed to do: any and all things 4® % 1 i r 16 C�.6:� 1i- necessary and convenient to effect delivery of the said warrant to Mary Lampman Zee Godeaux, et yir. Section 6. That as an inducement to the said First Security National Bank of Beaumont, Texas, the CityTs depository, to accept assignment of the above described warrant and to pay to Mary Lampman Lee God-- eaux, et vir the cash represented thereby, the City Council hereby certified and affirms to the said First Security National Bank that the said warrant is properly issued, is a valid warrant, and repre- sents indebtedness of The City of Beaumont. Section 7. All -ordinances and parts of -ordinances and all resolutions and parts of resolutions inconsistent with the provisions of this ordinance are hereby rescinded and.repealed insofar as same may con- flict herewith; and it is.further provided that if any portion of this ordinance shall be declared invalid, said invalidity shall in no way affect the remaining valid portions hereof. PASSED by the City Council this 20th day of Novemb.er, A. D. 1962.