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HomeMy WebLinkAboutORD 11-A-2Aii OrdInarce provi.d-Ing for fundlua�be script indebtedness of the city of Beaumont, and to issue bonds In lieu hereof. Be It ordained by the ci.tycouncil of the city of Deaumout Texas. Sectloi�: I; That thers shall be issued by the City of Beau mont Texa4 Dollars Bonds to the extent ofFOU-CVat>T� Thbusaudto be cella. The City of Beau mons Funding Bonds for and In behalf of the (V1ty of Feaumout to borrow money on the fal tit and crodi t of the ci tv of Pe umont to be use." iii ta,ki.rg un, rayIng aff and ,canceling all outstandIncr script Indebt d-ness Issund agairst the 9,,Mg1tal-ft7nd -of sa.#d. city and as ii1st thd' stree?t and bridge €Uud of sairl City, and i ssuol pr1oT toy the 4 da -7 of August X .D.I89.9, against eacb of said funds to meet ctrrp-P L t:Xxt s of said city prior to tbe4 day of August 1899; the s=aid, bonds provided for bereIn balm: Issued under aad by . authority of Sectlon Forty 'E-iglit (48of the charter of the city of Poaumoia 'WbIcb provVi os for the fund l ug or refund Ing of all or any part -_9L.4 _ neral or scrirA, indebtedness of the city o,. Reaumout. Sect, on: 2'.,-' That the Mnyor. of the city of Beaumont Is herby instruc ted to prepare Fourteen Thousand Dollars bonds In denomAir,,tions of FIvo Rundered Ieacb payable In current coin or otber la, ful montay of the United States of America and sball be nu,pbered from One to Twenity El gb+ Inpl usive, sa.ld bonds to ---FO date the 5 tb da of Au d_ 18999 awd shall become due and tayable, Porty Years a;f 1 er date, but sba,lI be redeemable at the antion of the city of Reaumont� at any time after Twenty Years after the date, tboreof, and sba;llre?x In-te,test at tbd rate of Five Per cent per annum, Interest payable semi annually on, the first day of January and July of ea:cbyear thoret after up to and Including the 5 tb clay of Aua ust A .D .1939 as d er interest cou--pons attached to said bonds. The bonds herein provided for scall be signed by bio Mayor and court rsi gucd by theci ty Steers tary and -shall bear the Impress of the seal, of the city ,of Rc4umos.'t Texas -..The cou-pons, shall boar the engraved signaturA6of the Mayon and the c1ty Secrelary, a.nl both, priuctp=l, a-nInterE0st- s.?ha-11 b�; 'paya. at' the National C1 ty Pink of tie CI ty of Neto York i;y. Ali ated the 5tbayofuglist.1,., 1899, and shall become due and dyable Forty Years of ter date,- but �. .' shall be redeemable at the option of the city of Feaumont at any time after Twenty Years after the date thereof, and, sballrear Interest at the rate of Five P -Or cent per annum, , Interest r payable-. semi aimually' ork -the first day of January and July of eachyear theret of f.er up to and including the 5tb day of Aua ust A x.ibn as ?ger Interest cou—pons attached to said bonds. The bonds -herein rrovided f or tshal l be signed by the Mayor and countersi gndd by theci ty Secre tary and :sha.11 bear the Impress of the seal. of the city of Beaumosi't Toss.. The cou -loons sbal l bear the engraved si gna turj3 of the Mayor and the c1ty Secremry, ani both. prjnc„1p l,.a-n1 Inters §t sha1T at the National City Rank of the .City of New York N:Y. ` Il` C)RO, Q Section! s 3. Sajd� bonds wb,en prepared shall be placed in V, Q hthd6 of the ka.por of the c Tv of Peaumont , and said Vayor shall MS 'SQA � J as rractica.ble proceed to sell Vie same a� oith, er Tmblic or private sa,- e and at not less than Par and accrued interest TT* T-Tocecds of said nordt when so sold shall be placed In tie bands of ��te� city Trieanr�%.r of the city of Penumont to be used by bin in-Payln.g off andd cancelling all outstanding scri-ot of the said city issued prior to the 5 tb day of August A .D .1899 agalust the general fund and again:t - -the. street aud_bridge, fund --of tb0-_c-1ty--of Reaumont. Sectloht4. For the PurpcsO of paving interest an said bonds as provi for in this ordinance and. Creating , sinking fund sufficient to- redem them at maturity 'there is hereby levied for the year 1.899 on each $100.00 valuation of jvo-c rty in ve city of ??eaumont IlAble to taxi, t1on a specIP1 advalorum tax of Five and One half cents, and said ta.F, or rns much thereof as may . be noc.esszry Is also levied ror each succeeding year so long as may be noce"sary to r-rovit?c f'orV,e inter est au -1 sinkinff fined aforesa d an tbe� entire amount rf said bonds, and if at amV time The amount of said. Pgsa,ssment 'sball not b�: suffi ctout to provide for the interest and sink$ng fund aforesaid, then It, Sball to the dutq 6f tb5* City counellof the city Of Pr"MA!031t to I _ .incw-.,a.s said a.ssessmont so that a sufficiout sum shall h realized - to meet the requirements, for the interest and swuking fund for� said bonds. And It is hereby prom ,, se;? a,gre ed tbat such increase Shall be made if r6quired for the purposes named. That to meet the intorest and sinking fund to become due an.. the€s issue of bonds durinf-, the year 18994, there is hereby a,pp opri,a. Zed out of Tbir, tax beretofore lccrvled to meet the interest and sink Ing fund on the outstanding bond&I of sari city a suf ficlent a,nount to meet same. See ti on 5. Tbnt tbIs ordinance sb311, "be 'tea ford and take effect from and- of tpr its Passage. this 4Vi day of August A.D.1899. -_ - -- -- ---- . Increase said assessment so that -a cuff 1c le -at sum sbalI- b6 real'l zed to meet the requirements for the Interest and s -Inking fund for, said bonds. MMI'NXTMVM And it is hereby prom -, sw' and. agre e._ tba. t such Increase shall be made If r6quired for the purposes named. That to moot the Interest and sinking Fund to ba=:come due on, this Issue of bonds durtna the fear 18994, Vere 3s bereby appr6pr1a ted out of the tax beretofore levied to meet the I-aterest and sink Ing fund on the outs-M-ndIn.Q bonded lntlebtedn.e6s of sald city a suf l_ f1clent amount to meet Same. Sectlop. 5. Vint tbis ©rd9-na nce sh 11 ' rbn in force and take effect from and of for its Passage. this 4th day_ of Augr�st_ PP.1%1899 • J� Mayor �etary 1 ' v • ' `.r e ` � � .7 • _ .. i d .. ,.1 ��, eaey. .s �.. ,.L.'., I.'�-1 i .. ..i _;I" -Y , �•� ... l;'���.:.:J�.�', .. �, .- 1 ' v