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HomeMy WebLinkAboutORD 35-FAN ORDINANCE. AUTHORIZING AND DIRECTING THE PROPER OFFICERS OF THE CITY OF BE'AUMONT NAMED HEREIN TO FORTHWITH PREPARE AND EXECUTE:AND TO NEGOTIATE AND DELIVER, FROM TIME TO TIDE AS NECESSI^1IES RE.QUIRE, LEGAL AND BIN -DING OBLIGATIONS OF THE CITY OF BEAU- MONT, IN THE FORM OF DEFICIENCY WARRANTS, DESCRIBED IN SAID ORDINANCE, FOR THE PURPOSE OF DEFRAYING THE CURRENT EXPENSES FOR THE MAINTENANCE AND OPERATION OF THE SEVERAL DEPARTMENTS OF THE GOVERNMENT MENTIONED: IN SAID ORDINANCE, APPROPRIATING AN EQUAL PORTION OF THE REVENUES OF THE CITY OF BEAUMONT APPOR— TIONABLE TO THE SEVERAL DEPARTMENTS AFFECTED, FOR THE YEAR 1926, FOR THE PAYMENT AND DISCHARGE -OF SAID WARRANTS, AND DECLARING AN EMERGENCY. WHEREAS,; The City of, Beaumont, pending thecollection of current 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 departments of the government, and in or— der to acquire funds wherewith to defray the current expenses of all de— partments 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 anticipate 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 BEAUMONT SECTION I. That J. Austin Barnes, T!layor of the City of Beaumont, be and he is h reby authorized to forthwith prepare, or have prepared, and to execute together with the City Clerk, and to be countersigned by the City 1.1a ager, legal and binding obligations of the City of Beaumont, in the form of and evidenced -by Deficiency Warrants dated on the date or datelc when negotiated, and delivered from time to time as herein— after provided, payable to "BEARER" on demand, bearing 6�, interest from th it date until paid, which said warrants shall be and are here— by secured by the legal and binding pledges and hypothecation of FIFTY— FOUR TH USAND AND N01100 (y$54,000.00) DOLLARS of the current tax rev— enues of. the City of Beaumont, for the year 1926, as applied to the funds o the particular departments and in the amounts relating to such de artments as hereinafter -.--.set forth the sa.id 'Deficiency -War— rants to be paid and retired out of the first tax revenues collected for the year 1926'for the operation of and application to the several departments of the'City Government, as hereinafter set forth.. The said warrants shall be executed, negotiated. and delivered operation of the several departments of the government, as herinafter set forth, until such time as there. shall have been collected suf— ficient 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 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 shall not exceed the - sum of FIFTY—FOUR'THOUSAND AND NO/100 ($542000.00) DOLLARS. The said Deficiency Warrants shall be in the following form, to—wit: The State of Texas, County of Jefferson. On Demand pay to the order of "'BEARER"' To the Director of Finance City of Beaumont Countersigned: CITY 11ANAGER Beaumont, Texas, M 192 DOLLARS MAYOR This warrant is one of a series of several warrants authorized by the City Commission of the City of Beaumont, by ordinance duly passed 192.6, A.D. and is payable out of the tax levies for the year 1926, and chargeable to the particular fund or department to which it applies when collected. This warrant bears interest at the rate of six p-er cent per annum from its date until paid. Each warrant shall carry on its face the name of the depart— ment to which it relates. The particular departments and funds of the City Government, for the operation of which said funds are hereby raised for the support, maintenance and operation of said departments from which said warrants `bail 3 5 _ ? C. Department of Public Safety — — — $44,,000.00 Department of Public Service— — — IO,OOO.00 The said Warrants shall be duly registered before being ne— gotiated by the Director of the Department of Finance. SECTION 2. mat the fact that the City of Beaumont is without funds now to discharge the current obligations incurred for the maintenan.c:e and operation of the several departments of government, without at once anticipating and pledging FIFTY—FOUR THOUSAND MM NO/I00 ($54,000.00) DOLLARS.of the tax revenues of 1926, for the maintenance and operation of the several departments mentioned in this Ordinance, creates an im— perative 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 or— dinance shall take effect upon its passage and signature of the T,,Iayor. Passed by the affirmative vote of all members of the Commis— sion this the +-8t day of November, A.D. 1926. The State- of Texas... A -d ' Countp of Jefferson Before me, the undersigned authority, on this day personally appeared ------------------ z1161 -- - - - - - - - - - - - - - - - - -known to me, who being by me duly sworn, on his oath de- poses and says, that he is the_ _ _ _ _ _ _ _ _ _ of �_ _ _ 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: _ _ _ ----------------- A. D. 192--K, and a newspaper copy of which is hereto at- Jached. -- --------- Sworl_to and subscribed before me, this ------day of ----- .'D. 1921 LEGAL 14 AX ORDINAfiCli the Authorizing and directing r -- City of Beai- proper officers of the Mont named herein to fto ne it - prepare and execute and to neg�- tiate and deliver, from timie�1 time as necessities require, and binding obligations of the Lit)" of Beauwar ants, the describedoinD ai4 ciencY ose of de- Ordinance, for the pure fraying the current expenses fUr maintenance and operation of, t" several departments of the govern'- + ment mentioned in said --- or r�etsney ion veeof the City 73eacu -' ther,to the Several. niontn. �X'ted. for the Yew_ -- Notary Public, Jefferson Cou ty, Texas. N