HomeMy WebLinkAboutORD 5-A-1Authoriking the izouanoo of bonds for the Purpoce.,
A -Z
the - City of Deatmont, an'dprovI.&Y16 L4,:`
the levy v-,nd,,,e61I,eo0.on of a tax to pay the, interest and create a, a, i It* ro�`,
.rag. fund for the redemption of oaid bondo,
'MERBASI, at an eloct,ion held -.1["or the ptirpose or. t-Ine 25th
September, A. D. 1906, a majority of the quaaifled voters, W-11-0 are prop-
erty tew, payews of t%,e City of -Jr3ow.monts, To-xau, voting at said elc,otion,
sustained ,i;he,proposition to in,,ue the, bondB hereinafter describod by a,
zor. tile iss-Lzance 'of said bonds, 130 0', vote of
a(,�ainst the issizanco of said bondso t1lerefores
M111 IT. Ory:)A�',NiIIDTI 71Y 11"ITY 00'01'011L O.T T1� r r OF ATI-TOYT:
t i 0 A I That there, be issuod by the City of Bcaumont,
Texa;Ao thebon&s of , th..,
said Cit,yv
to be called OU Y of
Dowunont
BondoW.
for -&'.a purpose
of borrowing money upon tho P-r,I-;,-Ut of Ilhiu City, such money to be used in
Ic
Oection 2. ood a bonds oua:ui. 'po nvum* orafrom 1. to
incluoivo, end rhcal be of the den omin�,,,t ion, Ono, Thoussaid
(VA.000.00) Dollars cach, aggregating tho am of
Thous&nd Don ar s, -and Shall 11.9 Pa'Yable in
lawful money of the United. States of Amarloa*
Section 3-, Sk-'I'd bonds shall be dated day 0 -P
a a
D. 19060 and z1aall boc * �7 due due wnd payvlil) 7orty
(40) Y(!arp! frcm their datti but -4hc- right is hereby expressly rcov.rvod
e L
, o cfj� at
cil�-.y of Dea=ont to red em ataid, bondas Or Pun�r b r that
ts a-fter Twenty (20) years fro�m. their dat,e,
Seot�.on 44 Said bondo shall bear Interpat from their date
rate of Five per coact. per ann-un, t1w ii!U; -t�st Payable semi-anrni'Iy,
on thr; day Of and -tho (lay of".%
Of (/,ach ye �R-- llrtcoord'inp, to the. tenor of" the int�reet-
coupons theroto attadhed.
ti
Section 5. Principea and interest on said bonas. shali. be payable
on pro nentation and vurrend,3r of bond or - I)roper coupon at the Of f ice of
t -he City Treasirr.-Ir of Chid City of Bt�-a=ont or at
rn
_dA- .-A the option of the holder.
Sectioli G.,AN41 �
Said bondz zha!--1, 15e. 13`gned'by the Ma
nter-
signed by the 11t Secretary, �-vja I-egisijerad bythe & ty T r and
i
the seal of the City shall be iriip'r',CE;Sed u -o on eaob one of th.
0.
S.
and. t a ection 7. The fac Simila aignatixes of t'he Vayor
�ecreti�x-ry zhall b� li.!;hognrc.ph�-d on the coiwongi*
Section a. It Is furthor ordained, b -y the City t"Itlat to
pay the interest on oald bonds wnd-creak te, a oinking,ftind suffiO4,oxk' to
discharge t.lhivhi ,:.,.t ma-turity a a% of
ael-O-OPS on each one hundi-ed doll ars
valuaton cff, U1 -11jaxaTile -Px Operty in Said City of Beaumont shall.be an4w
nually levied on caid propic,-rtyl and annually as-ve,.ssed and collected until
A
--i
.SeAd bonds u-nd interect arc pp,,id; r.r d of
F"AOL.) oil the
one. hundred dollars out of a tax o" n t, ti, o'
ri each orts hzLndred
dollaxii orova-t.
Y, Va.luation Invi;i(i to o
rpRte the in-t-sx-est wid sinking fund
to pay the o i x t s t ox. U 1 v g bo n a fz: el i n d atj to. 6., -1 a ,Of tla6' city by dais bitie
COV12011 01-1 U'le dw; of (the or -
dine -nee- inaking waist levy bcing, o:f njoard. on page5 NPO Ok � -of
the N-inu`tez of this Oouncii)� 'is hcrob,,--A66 to
apprapr;Lated and gel, 0.C
pay the interesst ano areate t1a,& necaosary sinking; f -and for -,Ghne- current
year; and -.1-hall be aeuezzed and co7le4ted and oo applied; and said ta=f-
or so much thereof as IwY 're neoej3sary; is herO)y lcv-.Ked for eaoh year
hereaf tor ;chile said: bonds,, or any ni,"ber are ontatp-nd-Ing, and
the voc-.Lme shall b,., winually ap,sassed axid ooll,aotod and Applied to the pvx�-
Sect' on 1) It is further ordained that --c.1-Le -MkyOr be authorizeil
and he i,� cUreoted to have p' ei)pxed the.
bonds of the City of 3aaumon•t o the denominalt.Iwi of One Thod uvrundt (4:L y 000)
DOIIEwu aachy was above de;k5crib�d; and that thei paid JJayor, be atit-liorized
to tEtkt: iizd haw charge of said bongs pendinE, their iiaventit o.i V1 by t
he
Attorne.3,,* General of t1ba State of Taxao, and upon their up LS -
1 ti 4.ian, Cilia 11 procood 1.0 sell t'he at no 1; I e r- P. th"-. fa e
at- 1�ifbl i c or prive-te sale, and the -Q Cc -dCf 'Quo"I qalel.iall On
e p s d -w J. 1 the City Treaaurer of the City of Beaumont and it is here -
,by Made the-- di��'ty of 'the ?payor *kxk to provide - that said bonds shall be
d!-,1it-bf,q& t.o '.t1w purchaaer in, the City of Deaumon't and payment for same
shall-a-w--:-zbe made In the Q'41y- ar Beaumont.
le cn
tile drAy I t1p 1p
QA 4&4vim* 0 A . D. 19L roved by the
-Mayor-pn the day D. 19060
Attest
Mayor .
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