HomeMy WebLinkAboutORD 27-IORS, �°7-1
AN ORDINANCE
AUTHORIZING and directing the issuance of a portion of the
serial bonds, of the City of Beaumont authorized at an election
held in said City on the 4th day of May, 3929, said portion thereof
hereby authorized and directed to be issued to be known and
designated as_"Wharf and Dock Extension -and -Improvement Bonds
1929, Series A'', -for the purpose of acquiring additional necessary
sites for wharves and docks for the City of Beamont and improving
and equipping the same, in the sun. of 0600, 000; 00 bearing, interest
at the rate of four and one half per cent (42 o) per annum, interest
on all bonds payable annually on the first year and semi-annually
on each year thereafter, providing for the levying and collecting
of the nece, sary taxes to pay tl-e interest and create a sinking
fund for thd redemption of said bonds; providing that this ordinance
shall. take effect on the date of its passage and 1 a7ful publication,
and declari.-g an emergency.
WHEREAS, on the 2nd. day of April, A.D. 1929 an ordinance_
was duly passed by the affirmative, vote of all meaers of the City
Commission of the City of Beaumont, whereby a bond election was
ordered tJo be held in said City on the 4th day of May, A. D. 1929;
arra. I' -
WHEREAS, in' said election held in the City of Beaumont on
the 4th; day of May, A. D. 192 9, the voters of the City of Beaumont
qualified to vote at said election did authorize the City Commission
of the City of Beau ont- to issue bonds aE said City payable serially
in from one (1) to forty (40) years fr on date, except the below men-
tioned refunding bonds which are 'to be payable in twenty (20) annual
installments in from one (1) to twenty (20) years from date, all
bonds to bear interest at the rate of four and one half (42%) per
cent per annum, interest on all bonds payable annually on the first
year and_•, semi-annually on each year---t-hereafter., s -a -id -bonds to. -be
in the following amounts and the money to be derived therefrom to
be used for the following purposes, to wit:
For the purpose of improving, extending and -
repairing the streets and highways of the ' '
City of Beaumont 1, 000, 000; 00
For -the purpose of opening, improving and
widening the streets and highways of the '
City of Beaumont 3501V 000:00
For,,the purpose of improving, extending and-
rep'airing the sewerage system of the -City '
of:' Be aumont 600, 000:00
For the purpose of improving, extending and
equipping the public parks of the City of
Beanm.ont and acquiring necessary sites there-
for, except Tyrrell Public Park and. Pablie '
Fair Park 75'Y000:00
For the purpose of 'acquiring a site for an
airport for the City of Be aumont. and pro-
viding the necessary improvements and equip- '
meat therefor 100, 000:00
For the purpose of building, improving, re-
pairing and equipping fire stations and ac- '
For -the purpose of improving and extending
the Water Works system and facilities of
the City of Beaumont 125, 000; 00
For the purpose of improving, extending,
repairing and equipping the present wharves
and docks of the City of Beaumont and ac- '
quiring additional sites therefor 400,000:00
For the purpose of acquiring additional
necessary sites for wharves and docks for the
City of Beaumont and improving and equipping
the s ame 11850 000; 00
For the purpose of -refunding part of the
outstanding indebtedness of the City of
Beaumont represented by one hundred fiftV,
warrants of one thousand dollars each,
issued -by the City Commission by ordinance
passed on the 6th day of November, 1928 150,000:00
AND, WHEREAS, it is deemed expedient and advisable at this
time to issue a portion of said bonds under and by -virtue -of tha
authority conferred by said election of date May 4, 19293, to be
known as 'Wharf and Dock Extension and Improvement Bonds 1929,
Series All., in the amount .and for the purposes as f ollows, to wit:
For the purpose of ae quir ing additional
necessary sites for wharves and docks for the
City of Beaumont and improving and e quipp ing '
the same 600 000:00
The fact that the present wharves and docks of the City '
of Beaumont are wholly inadequate to meet the needs of the City,
and -additional wharves and docks -are-_imperativ-.ely-needed-_to_ care -
for the shipping of the port of Beaumont, creates an imperative
public necessity requiring this ordinance to take effect immediately
as an emergency measure:
NOW, THEREFOFE, BE IT ORDAINED BY 'THE CITY ODDZIISSION
OF THE CITY OF BEAUMONT :
Section 1;
That the City of Beaumont shall issue bonds as herein -after
described -for and on behalf of arrl upon the credit of the City of
Beaumont to borrow to the extent of SIX HUNDRED THOUSAND DOLLARS
(600;000:00), to be devoted to -and expended for the purpose of
acquirir_g additional necessary sites for wharves and docks for the
City of Beaumont and improving and equipping the same:
The said bonds provided for herein shall be and are issued
under and by virtue of the Constitution and Laws of the State of
Texas and the 'Charter of the City of .Beaumont adopted the 30th day
of December, 1919, and the power and authority granted by Sections
18. and -7l of_ said- -City Charter, and all other -provisions. in s -aid_ — ==
Charter pertlining to the issuance of bonds, and by Chapter 147 of
the General Laws of the State of Texas passed by the 33rd Legislature
at its regular session, granting certain powers to cities of more
than five thousand inhabitants, and by Chapter 9 of the Acts of
the Regular Session of the 37th Legislature and all amendments to
said Acts, and all other laws of the State' of Texas pertaining to
�e,b, /?j )Qs/
A
WHARF AND " DO CK EVENS I ON AND IMPROVEMENT. BONDS 1929, -
SERIES A: Six Hundred Thousand Dollars ($600,000;00) Wharf
and Dock Extension and Improvement Bonds 1929,, -Series A,' to
be divided into six hundted ( 600) bonds of the denomination of
One Thousand Dollars ($1,000 00) each, to be -numbered from one
(1) to six.hvndred (600) inclusive, payable as follows,
respectively:
Nos:
1
to
6
of
l; 000: 00
each payable
lst
day
of
- March'
1932
Nos:
7
to
12
of
'1,000600
each
payable
lst
day
of
Marchi
1933
Nos!.
13
t0
18
of
1'000;00
each
payable
lst
day
of
March;
1934
Nos:19
to
24
of
l; 000:00
e ach
pay able
lst
day
of
March;
1935
Nos;
25
to
30
of
$1'000:00
e ach
payable
lst
day
of
March;
1936
Nos:
31
to
36
of
1;0.00:00
91,000000
each
payable
lst
day
of
March?
1937
Nos!
37
to
42
of
each
payable
lst
day
of
March!
1938
Nos!
43
to
48
of
11000:00
each
payable
lst
day
of
March;
1939
Nos:
49
to
54
of
;000:00
;�1'000'0'00
each
payable
lst
day
of
March;
1940
Nos:
55
to
60
of
each
payable
lst
day
of
March'
1941
Nos:
6.1
to
72
of
li 000:00
each
payable
lst
day
of
Marchi
1942
Nos:
73
to
84
of
$1000-00 00
'
e ach
payable
lst
day
of
Marchi
1943
Nos:
85
-to
96
of
l; 000;00
each
payable
lst
day
of
March.,'
1944
Nos!
97
to
108
of
'1' 000-000
each
payable
lst
day
of
March;
1945
Nos!
109
to
120
of
,1' 000; 00
each
payable
lst
day
of
March-'
1946
Nos:
121
to
132
of
l' 000; 00
e ach
payable
lst
day
of
March;
1947
Nos`:
133
to
144
of
�l; 000; 00
each
payable
lst
day
of
Marchi
1948
Nos;
145
to
156
of
$l'000:00
each
payable
lst
day
of
Marchi
1949
Nos'!
157
to
168
of
11'000:00
each
payable
lst
day
of
March;
1950
Nos':
169
to
180
of
1,000;00
each
payable
lst
day
of
Marchi
1951
Nos':
181
to
198
of
1;000;00
each
payable
lst
day
of
March,
1952
Nos';
199
to
216
of
4')1;000:00
each
payable
lst
day
of
Marchi
1953
Nos' a
217
to
234
of
011000:00
eachpayable
lst
day
of
March;
1954
Nos';
235
to
252
of
1;000:00
each
payable
lst
day
of
March,
1955
Nos':
253
to
270
of
1; 000; 00
each
payable
lst
day
of
March'
1956
Nos'.
271
to
288
of
81'000;00
each
payable
lst
day
of
March;
1957
Nos:
289
to
306
of
")1' 000.00
each
payable
lst
day
of
March;
1958
Nos:
307
to
324
of1;000;00
each
payable
1st
day
of
Marchi
1959
Nos':
325
to
342
of
'11000;00
each
payable
lst
day
of
March-
1960
Nos':
343
to
360
of
-31,000-00
each
payable
lst
day
of
March;
1961
Nose
361
to
384
of
'1'000:00
each
payable
lst
day
of
March;
1962
Nos':
385
to
408
of
, 1,000:00
each
payable
lst
day
of
March;
1963
Nos;
409
to
432
of
1'000:00
each
payable
lst
day
of
Marchi
1964
Nos`;
433
to
456
of
1;000;00
11`'
each
payable
lst
day
of
Marchi
1965
Nos':
457
to
480
of
000; 00
e ach
pay able
lst
day
of
March=
1966
Nos':
481
to
504
.of
$1,000:00
each
payable
lst
dsy
of
March;
1967
Nos`:
505
to
528
of
01.1.000;00
each
payable
lst
day
of
March'
1968
Nos`:
529
to
552
of
l; 000:00
each
payable
lst
day
of
March;
1969
Nos`:
553
-to
576
of
1;000;00
1120000QO
each
payable
lst
day
of
March;
1970
Nos':
577
to
600
of
e ach
payable
ls.t
day
of
March,
1971
Said bonds to be payable -in lawful money of the,United States
of America and each dated tYB first day of March, 1931, each bond
to bear interest at the rate of four and one-half per cent (42f )
per annum, interest for the first year payable annually on the first
day of March, 1932, and,for. all years thereafter payable semi-annually
on the lst day of March, and the 1st day of September of each year;
according to - the tenor _of the interest coupons to -be attached to
said . bonds`:
The Mayor shall sign said bonds, and they shall be counter-
signed and attested by the City Clerk, and registered by t1m Director
of Finance and the seal of the City shall be impressed upon each one -
of them: The c ounons s 1mll be executed with the lithog!ranhed signa-
. 1.
Section 3.
P-e_L , l �, /9 -31
The bonds and interest coupons above provided for upon
kbeir face shall be substantially in words and figures as follows,
to wit:
FORM- OF BOND
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF JEFFERSON
CITY OF BEAUMONT
No: 1 $15,000.0 00
WHARF AND DOCK EXTENSION AND IMPROVEMENT
BOND 1929 SERIES AA
KNOIN' ALL MEN" BY THESE PRESENTS: That the City of Beaumont,
a municipal corporation in the County of Jefferson, State of. Texas,
hereby acknowledges itself to . owe, and for value received hereby
promises to pay to bearer ONE THOUSAND DOLLARS-' --(1,000:00),
in lawful money of the United States ' of America, on the lst day of
March, 1932, with interest on said sum from "d ate of this bond at
the rate of f our and one-half (42%) per cent per annum, interest
for the first year payable annually on the lst day of March} 1932,
and for each -year thereafter payable semi. -annually' on the . is t day
of March and the 1st day of Sep temberIof each year, in i lawful
money of the United 'States of America, as evidenced by and upon
presentation and surrender of the annexed interest coupons as they
severally become due: Both principal and interest of this bond
are payable -at the office of the Director of Finance of the City
of Be aumont, or at the o ffice of the Nat ional City Bank of New
York City, New York, at the option of the holder hereof.
This- bond* Is one of a7series'of 600 bonds of -thee denomina-
tion of One Thousand ($1,000:00) Dollars each, known and called
"WHARF AND DOCK EXTENSION AND IMPROVEMENT BONDS 19293, SERIES Ate
of like tenor and date, except as to maturity, numbered from one
(1) to six hundred (600) inclusive, aggregating in amount SIX
HUNDRED THOUSAND ($60.0,1000.00) DOLLARS, said bonds issued by the
City of Beaumont for t1Bpurpose of making permanent city improve-
ments, to wit: For the purpose of acquiring additional necessary
sites for wharves and docks for the dity of Beaumont, and improving
and equipping the same-.
- Said bonds erre issued udder and by virtue of the Constittt.on
and laws of the State of Texas, and the Charter of. the City of
Beaumont adopted the 30th day of December, A. D. 1919, and the
power and authority granted by --Sections 18 and 71 of said City
Charter, and all other provisions in said Charter pertaining to
the issuance of bonds, and by Chapter 147 of the General Laws of
"the State of Texas passed by the 33rd Legislature at its regular
session, granting certain powers to cities of more than 5000 in-
habitants and by, Chapter 93.• Acts of the Regular Session of the
37th Legislature, and all amendments thereto, and -all other laws
of the State of Texas pertaining to -and _authorizing the issuance of
municipal bonds pursuant to an Ordinance duly adopted by the C itr
Commission of the City of Beaumont on the 2nd day of April, 1929,
ordering an election on the 4th day of May, 1929, and. a Resolution
of the City Commission of the City of Beaumont duly passed on the
7th day of Hlay, 1929, declaring the result of said election and in
pursuance of an Ordinance duly and regularly passed by the City
_-P 4-1— n44— .- 1. *0__..___j_ __ 4-1-- '1 7V A-1., A— ,..F+
O R b I a 7 z
p�_ & )-7, /C/a)
The date . of his bond is the lst day of March, 1931, and it
'is hereby certified, recited and declared that all acts, conditions
and things required to be done precedent to and in the issuing of
these bonds have been properly done, have happened and been perform-
ed - in regular and due form as required by law, and that the total
indebtedness of the City, including the total - indebtedne ss con-
tracted by the issuance of these bonds does not exceed the con-
stitutional or statutory limitation:
And 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 this issue of bonds,
together with the rate of tax existing at the time of the issuance
of these bonds, is within the limitations of the Constitution -arid
laws -of the State of Texas, and. Charter of t1.e City of Beaumont;
IN TESTIMONY THEREOF, the City of Beaumont has caused this
bond to be issued'and signed by its Mayor, countersigned and attested
by its City Clerk, registered by the Director of Finance and the
corporate seal of said City to be affixed thereto, and the interest
coupons hereto annexed to be' signed with the fac-simile signatures
of said'Mayor and City Clerk, this, the 1st day of March, A.D. 1--931:
Countersigned and Attested:
City Cle rk of the City of
Beaumont, Texas (seal)
Registered:
Director of Finance of the
City of Beaumont, Texas.
Mayor of the City of featn.ont,,-`.
Texas.
FORM OF COUPON
Q
No: 2 $22.50
On the day of , 19 , the City of Beaumont,
State of Texas; will pay to bearer at the -office of the Director
of Finance of the City of Beaumont, Or at .the office _of the National
City. Bank of New York City, New York, at the option of the holder,
TWENTY-n'VO and 50/100 DOLLARS ($22.50) lawful money of the United
States of America, being six monthst interest then due on its
Wharf and Dock Extension and Improvement Bond 1929 Series A dated
the lst day of March, 1931, No: lm
Mayor ' of the Ity of B e auaon�,
Texas.
ATTEST:
1"Ty- Clerk of :tHie City off'
Beaumont., Texas:
Interest coupon No. '1 oft the above bonds shall be in the sum of
Forty-five'Dollars ($45.00) being one yearts interest to be paid
on M a rch 13, 19 32. .
A • • •
Section -4:
F" b,!07, %CISI
It is further ordained that the Mayor be authorized and he
is hereby directed to take and have charge of tla above described
bonds pending their investigation by the Attorney General -of tle
State of. Texas, and upon their approval and registration he shall
proceed to sell the same at no less than their face value and
accrued interest, at public or private sale, and the proceeds of
such sale shall be deposited with the Director of Finance of the
City of Beaumont, and the proceeds of said bonds, shall be used for
the purpose of making permanent city improvement, to wit:
For the purpose of acquiring adds tional necessary
sites for wharves and docks for the City of Beaumont
and improving and equipping the same;
Section 5;
It is further ordained that for the purpose of paying the
interest on said Wharf and Dock Extension and Improvement Bonds
1929, Series A, as well as the various installments of principal
as the same shall respectively mature, there is hereby levied for
the year 1931, and for each year thereafter, so long as the same -
may be necessary to provide the interest and annual installments _of
principal of said bonds, on all -property in the City of Beaumont
subject to taxation, an additional tax of six cents ($:06) on each
One Hundred Dollars valuation -of all taxable property within the
City of Beaumont, or so much ' thereof or such other rate of tax -as
shall be necessary, and the same shall be so annually assessed,
collected and applied, and said tax, or so much thereof or such
other tax as may be necessary is hereby .levied for each year
hereafter while said bonds or any number thereof are outstanding,
and the same shall be annually assessed, collected and applied to
the purpose named;
Section 6:
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., provided, , however that
only a portion of- the bonds authorized -to- be issued by the said
election of May 45, 1929 are hereby issued, and this ordinance shall
in nowise affect the right and authority of the .City of Beaumont to
issue the remainder of said bonds as and wlE n deemed expedient, and
provided further that if any portion of this ordinance should be
declared invalid said invalidity shall in no way affect the remain-
ing valid portions he re of
Seeti on 7;
The fact that the present wharves and docks of the City
of Beaumont are wholly inadequate to meet the needs of the City,
and additional wharves and docks are imperatively needed to care
for the shipping of the port of Beaumont, creates an imperative
public emergency necessitating the suspension -of the rule requiring
ordinances to be read on three separate days before their passage,
and said rule is hereby suspended and this ordinance shall tulm
effect from and after the date of its passage'*'
Passed this the 17th day of February, A.D. 1931, by the
affirmative vote of all members of the City Commission,