HomeMy WebLinkAboutORD 91-EY � .
AN ORDINANCE
AUTHORIZING AND DIRECTING THE PROPER OFFICERS OF THE CITY
OF BEAUMONT NAMED HEREIN TO FORTHWITH PREPARE AND EXECUTE, AND TO
NEGOTIATE AND DELIVER, FROM TIME TO TIME, AS NECESSITIES REQUIRE,
LEGAL AND BINDING OBLIGATIONS OF THE CITY OF BEAUMONT, IN THE FORM
OF DEFICIENCY WARRANTS, DESCRIBED IN SAID ORDINANCE, FOR THE PUR-
POSE OF DEFRAYING THE CURRENT EgPENSES FOR THE MAINTENANCE AND
OPERATION OF THE SEVERAL DEPARTMENTS OF THE GOVERNMENT, MENTIONED
IN SAID ORDINANCE, APPROPRIATING AN EQUAL PORTION OF THE REV 1UES
OF THE CITY OF BEAUMONT APPORTIONABLE TO THE SEVERAL DEPARTMENTS
AFFECTED, FORTHE YEAR 1926, FOR THE-2AYI.IENT AND DISCHARGE OF SAID
WARRANTS AND DEC LAR ING AN EMERGENCY.
WHEREAS, The City of Beaumont, pending the collection of
ourrent tax revenues, from all sources, being taxes for the year
1926, is without funds wherewith to pay its current obligations
incurred and to be incurred for the operation of the several de-
par*ments of the government, and in order to acquire funds where-
with to defray the current expenses of all departments of the
government pending the collection of said revenues, it is necessary
that the City of Beaumont borrow money upon the faith and credit of
said City, and to.autioipate and pledge an equal portion of the
current tax revenues of the City for the year 1926.
BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF BEAUMO NT :
SECTION I.
That J. Austin Barnes, Mayor of the City of Beaumont, be
and he is hereby authorized to forthwith prepare, or have prepared,
and to execute, together with the City Clerk, and to be counter-
signed by the City manager, legal and binding obligations 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", on demand,
bearing not more than 6% interest from their date until paid, which
said warrants shall be and are hereby secured by the legal and bind-
ing pledges and hypothecation of Two Hundred and Ten Thousand Dollars
($210,000.00) of the current tax revenues of the City of Beaumont,
for the year 1926, as applied to the funds of the particular depart-
ments and in the amounts relating to such departments as hereinafter
set forth; the said Deficiency Warrants to be paid and retired out
of the first tax revenues collected for the year 1921D for the opera-
tion of and application to the several departments of the City Gov-
_
The said warrants shall be executed, negat iat ed and deliver-
ed as and when it is requisite and necessary to raise money for the
payment of existing obligation, 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 col-
leoted 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 where.
with to pay off and discharge all of 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 issue
sliall not exceed the sum of TWO HUNDRED AND TEN THOUSAND DOLLARS
($210,000.00).
The said Deficiency Warrants shall be in the following
form, to wit; -
"The State of �iexas, Beaumont, Texas,
County of Jefferson. 192
On Demand, pay to the order of "BWER"
DOLLARS
To the Director of Finance )
Mayor
City of Beaumont ) ATTEST;
City Clerrc
Countersigned;
City Manager
This Warrant is one of a series of several Warrants au-
thorized by the City Commission of the City of Beaumont, by Ordinance
duly passed , 192`, A.D., and is payable out
of the tax levies for the year 1926, and chargeable to the particular
i
This Warrant bears interest at the rate of not more than
six per cent per annum from its date until paid.
Each Warrant shall carry on its face the name of the de-
partment to which it relates.
The particular departments and funds of the City Govern-
ment, for the operation of which said funds 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 there-
from for that purpose shall be and are according to the following
table:
Department of Finance - - - - - - - $ 49500.00
General Fund - - - - - - - - - - - 8,500.00
Department of Public Safety - - - - 909000.00
Department of Public Service - - - 90,000.00
Department of Public Welfare - - - 17,000.00
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 without funds
now to discharge the current obligations incurred for the mainten-
ance and operation of the several departments of government, with-
out at once anticipating and pledging TWO HUNDRED AND TEN THOUSAND
DOLLARS ($210,000.00) of the tax revenues of 1926, for the main-
tenanoe 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 days before passage, wherefore said rule is
hereby suspended, and this ordinance shall take effect upon its
passage and signature of the Mayor.
Passed by the affirmative vote of all members of the
Commission this the 23rd day of February, A.D. 192/6.
ayor.
The State of Texas,
CountrP of Jefferson
Before me a undersigned authority, on this day personally appeared ------------------
- - - -x _ _ _ _ _ _ _ know to me, who being by me duly sworn, on his oath de-
poses and says, that he is the-�f
i��- - - - of the �.....
BEAUMONT JOURNAL, a newspaper published in said county; that a copy of the within and
foregoing was published
in said newspaper, such publication being on the following dates:
16-W�-�- - ------------ A. D. 192_ and a newspaper copy of which is hereto at-
tached.
Sworn to, and su -,Cr;'
LEGAL NOTICES.
♦ SEALED PHOPOSALt3 addressed
to B. B. Johnson, countyy judge of
Jefferson county, jand lle%VItt L.
Bennett, county i dge of Orange
Co' u11 , will be re eived at t e of
[C o the co tyn judge a Beau-
lttont, T as, un Il 11 M a- ., March
15, 1926, nd t eq public opened
and read. he prk t be per-
ormed cons is o dr e ging Chan-
ltels for a fe hat s to be 1n-
�ttalied on the h w le from
Port Artt} ge, c annel to
be dredged to ha a bottom width
Of 75 feet with ed 2 to 1 at)-
-------
------✓/�
_ _ _ A. D. 19
day of _
Dwziinu,tiag_- ' o�it�� of
excavation. P n a speclYica-
Clona may g sen ',for atnination
and inform a on o tained t the of- G•
/0 of the ounty�- !neer t Beau_ Y
------------------ L4M- I
'.Notary Public, Jefferson Coun , Texas.
4