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HomeMy WebLinkAboutORD 71-A-1An Ordinance Authorizing the issuance of,Bonds for the purpose of repair- ing Buildings.or structures for the Building of which Bonds are allowed to be issued.To-wit:- The repairing of the white public school House iodated in the first ward of the City of Beaurnonjand known as the North End white Public school House and providing for the levy and collection of a. Tax to pay the interest and create a sinking fund for the redeMt� ion --- - -- -of` -sa-ld Bonda: - - -- - - _ Be it ordained btu. The City Council of the -City of Beaumont Testas. Sec.I:- That the Bonds of said City to be called "City of Beaumont School Houses repair Bonds"to be issued under and by virtue. of Article 0486 revised statues of Teaas,1895,and also section 4 of ahapterOUIX of the acts of the Legislature of Texas of 1$99 and the Charter of the City of Beaumont,Texas for the purpose of repairing the white Public School House located in the first ward of the City of Beaumont and xno*n As the North End White Publie Houso. sea.g:-Said Bands shall be munbered Consecutively f0om one to three inclusifte shall be In the denomination of six hundred"600.00)eaeh and aggreating eighteen htt[ndr®d- Oollars($1-800 eOW) : - - -- - --- - Sea.S:- They shall be dated the 15th day of OctQbor 1901,. and shall become due and payable forty years from their date,but may be.redeemed ' at the pleasure pf the City at any brae after twenty years from.their date. Seo.4:-They shall bear interest at the rate of five(5)per dent per anm m payable annually on the first day of October of each year. j I Seo.5:- Principle and Interest shall be payable on the Presentation � and surrender of Bond or Proper coupon at The Office of the City Treasurer of The City of Beawmont,Texas. Seca : said Bonds shall be signed by the Mayor, countersigned by the.__- City. Seoretary,and registered by the__C:.t-yTreasur.:e and the Sealof the i C tY -shall -be upon[ each of them. Sep:*:- The faa-simile signature of The Mayor and City Seeatary mag �. h� 7 i t19r�ar. a�'hae4 nn 4'hra F'�nvn�►es -=,`"` ,... . They shall be dated the 15th day of Oatobor 1901, and shall become due and p,.yable forty gears from their, date,but may be.redeemed at the pleasure pf the City at any time; after twenty years from_ their date. Sec.4:—They Shall bear interest at the rate of five(Oper cent per I annum payable annually on the First day of October, of each year. I See.5:— Principle and interest shall be payable on the Presentation and surrender of. Bond or Proper coupon at The Office of the City Treaaror of The City of Bealugont,Texas. Bonds shall be signed by the Mayor, countersigned by_ ---the.- i City. Seoretary,and registered bu the _city Treaasui,er and the Sealof the c +,ty shall be ImpresBed upon each of them. See :-7:-- The fao—simile signature of The Mayor and City Seeatavy may be lithographed on the Coupons. ti Seo.8:-It is'further ordained by the City Council to gay the interest on said Bonds and create a sinking fund sufficiant ftxdto discharge them at maturity,a Tax of one half cent on each ane hundred dollars valueat4on of all Taxable property of said City of Beaumont shall be anmtally levied on said property and annually assessed and collected until said Bonds and -- _-� interest are paid,and said Tax of One half cent one the one hundred dollar out of a Tax of fifty centslevied far' the -payment of -the intere-st _ and sinking Rind on the outstanding Bond,.d indebtness of the City of BeaUMOnt by this City Counoil on the --day of - 190I.(The ordinance making the lovy;being of renord on page 81,Booko? of the minutes of ordinances of this"City Council)is hereby approiated to pay the interest and create the necessary fund for the current year and shall be assessed and colleot- ed and so applied, and said Tax is hereby levied for each year hereafter while said Bonds are outstanding and the same shall be annually assessed and collected. sand aftlied to the purpose named. Svc.19:-It, is also ordained that the Mayor and finance committee of the City Council be authorized to take and have charge of. said Bonds pending --their- invest lgation_ by__tIv, At'torne.-----_,and neraupon their approv- _Yf� aland registration shall have authority to negotiate their sale and receiv 1 For the City the pro©eeds theredffr Passed on the day of 19014 a Approved on the, of I9Qi. We the Ordinance.committee recommend the passage of the Foregoing ordinanel�