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HomeMy WebLinkAboutORD 27-MAN ORDINANCE AUTHORIZING and directing the issuance of a portion of the serial bonds of the City of Beaumont authorized at an election. held in said City on the 4th day of May, 1929,.said portion thereof hereby authorized and directed to be issued to be known and designated as "SEWERAGE BONDS 1929 SERIES C°' and "WHARF &. DOCK EXTENSION & IMPROVIDIENT BONDS 1929 SERIES DQ4, for the respective purposes and in the respective amounts as follows, to wit: (1) For the purpose of improving, extending and repairing the sewerage system of the City of Beaumont, in the sum of $50,000900; (2.) For the purpose of acquiring additional necessary sites for wharves and docks for the City of Beau- mont and improving and equipping the same, in the sum of $40,000.00; payable serially from December 1, 1940 to December 1, 1979, inclusive, all bonds maturing December 1, 1940 to December 1, 1957, inclusive, bearing interest at the rate of 32% per annum, and bonds maturing; December 1, 1958 to December 1, 1979, inclusive, bearing interest at the rate 'of 3-41,% per annum, interest on all bonds payable annually on the first year and semi-annually on each year thereafter; pre- scribing the form of such bonds; providing for the levying and collecting of the necessary taxes to pay the interest and create a sinking fund for the redemption of said bonds; repealing all ordi- nances and parts of ordinances in conflict herewith; and providing that said ordinance shall take effect on the date of its passage and lawful publication, and declaring an emergency® WHEREAS, on the 2nd day of April, A. D. 1929,. ars. ordinance was duly passed by the affirmative vote of all members of the City Commission of the City of Beaumont, whereby a bond election was ordered to be held. in said City on the 4th day of May, A. D. 1929; and WHEREAS, in said election held in the City of Beaumont on the 4th day of May, A. De 1929, the voters of the City of Beaumont qualified_ to vote at said election did authorize the City Commission of the City of Beaumont to issue bonds of said City payable serially in from one (1) to forty (40) years from date, except the below mentioned refunding bonds which are to be payable in twenty (2.0) annual installments in from one (1) to twenty (.20) years from date, said bonds to be in the following amounts and the money to be derived therefrom to be used for the following purposes, to wit: For the purpose of improving, extending and repairin the streets and highways of the City of Beaumont 91,000,000.00 For the purpose of opening, improving and widening the streets and highways of the City of Beaumont For the purpose of improving, extending and repair- ing the sewerage system of the City of Beaumont For the purpose of improving, extending and egLiip- ping the public parks of the City of Beaumont and acquiring necessary sites therefor, except Tyrrell Public Park and Public Fair Park For the purpose of acquiring a site for an airport for the City of Beaumont end providing the necessary improvements and equipment therefor 350,000.00 600,000.00 75,00000 100,000®00 For the purpose of building, improving, repairing and equipping fire stations and acquiring necessary sites therefor 200,000.00 For the purpose of improving, repairing and equip- ping the public buildings, that is, the City Hall and Police Station of the City of Beaumont 10,000.00 For the purpose of improving and extending the Water Works system and facilities of the City of Beaumont 125,000.00 For the purpose of improving, extending, repairing and equipping the present wharves and docks of the City of Beaumont and acquiring additional sites therefor 100, 000.00 For the purpose of acquiring additional necessary sites for wharves and docks for the City of Beaumont and improving and equipping the same 1,850,000.00 For the purpose of refunding part of the outstand- ing indebtedness of the City of Beaumont represented by one hundred fifty warrants of one thousand dollars each, issued by the City Commission by ordinance passed on the 6th day of November, 1928 150,000.00 AND, 1 HLREAS, it is deemed expedient and advisable at this time to issue a portion of said bonds under and by virtue of the authority conferred by said election_ of date May 4, 1929, to be known, as "Sewerage Bonds 1929 Series C`99 and "'Wharf & Dock Extension & Improvement Bonds 1929.Series D", in the respective amounts and for the respective purposes as follows, to -wit: For the purpose of improving, extending and repairing the sewerage system of the City of Beaumont $50,000.00 For the purpose of acquiring additional necessary sites for wharves and docks for the City of Beau- mont and improving and equipping the same 10,000.00 The fact that the present sewerage system of the City of Beaumont is now wholly inadequate for the demands ple.ced upon it, causing congestion of the sewer mains and resultant stagnation which is injurious to the health and lives of the people of the City of Beaumont; and the present wharves and docks of the City of Beaumont are wholly inadequate to meet the needs of the City, and additional wharves and docks are im rati eed to care for the shipping , ,o el ci. o�nc�-t nns of the Port of Beaumont, / e e ei e a.t'i e public necessity requiring this ordinance oto take effect immediately as an emergency measure® NOW, THEREFORE, BE IT ORDAINED BY THE CITY C0MISSION OF THE, CITY OF BEAMkONT: Section 1 That the City of Beaumont shall issue bonds as herein- after described for and on behalf of and upon the credit of the City of Beaumont to borrow to the extent of NINETY THOUSAND DOLLARS ($90,000.00), to be devoted to and expended for the following purposes, to -wit: Fifty Thousand Dollars ($50,000®00) for the purpose of improving, extending and repairing the sewerage system of the City of Beaumont. Forty Thousand Dollars ($40,000.00) for the purpose of acquiring additional necessary sites for wharves and docks for the City of Beaumont and improving and equipping the same. The said bonds provided for herein shall be and are issued under and by virtue of the Constitution and laws of the State of Texas and the Charter of the City of Beaumont adopted the 30th day of December, 1919, and the power and authority granted by Sections 18 and 71 of said. City Charter, and all other provisions in said Charter pertaining to the issuance of bonds, and by Chapter 147 of the General Laws of the State of Texas passed. by the 33rd Legislature at its regular session, granting certain powers to cities of more than five thousand inhabitants, and by Chapter 9 of the Acts of the Regular Session of the 37th Legislature and all amendments to said. Acts, and all other laws of the State of Texas pertaining to and authorizing the issuance of said bonds® Section 2 The said bonds in the sum of Ninety Thousand Dollars (1$90,000.00) shall be divided into two (2) series, and each series divided into forty (40) installments and said series of said bonds shall be known and called each respectively "Sewerage Bonds 1929 Series C'" and "'Wharf & Dock Extension & Improvement Bonds 1929 Series D", and the Mayor of the City of Beaumont is hereby authorized and -directed to, have prepared and executed a set of bonds for each of said purposes as follows. SEWERAGE BONDS 1929 SERIES C: Fifty Thousand Dollars ($50,000.00) Sewerage Bonds 1929 Series C, to be divided into fifty "(50 bonds of the denomination of One Thousand Dollars ($1,000.00) each, to be numbered from one (1) to fifty (50) inclusive, payable as follows, respectively: No. 1 of 1,000.00 payable lst day of December, 1940 No. 2 of 1,000.00 payable lst day of December, 1941 No. 3 of 1,000.00 payable lst day of December, 1942 No. 4 of 1,000.00 payable lst day of December, 1943 No. 5 of . 1,000.00 payable lst day of December, 1944 No. 6 of 1,000.00 payable lst day of December, 1945 No. 7 of 1,000.00 payable lst day of December, 1946 No. g of 1,000.00 payable lst day of December, 1947 No. 9 of 31,000.00 payable lst day of December, 1948 No. 10 of 1,000.00 payable lst day of December, 1949 No. 11 of $1,000.00 payable lst day of December, 1950 No. 12 of 1,000.00 payable lst day of December, 1951 No. 13 of 1,000.00 payable lst day of December, 1R52 No. 14 of 11,000.00 payable lst day of December, 1953 No. 15 of $1,000.00 payable lst day of December, 1954 No. 16 of 1,000.00 payable lst day of December, 1955 No. 17 of 1,000.00 payable lst day of December, 1956 No. 18 of '1,000.00 payable lst day of December, 1957 No. 19 of '1,000.00 payable lst day of December, 1958 No. 20 of 1,000.00 payable lst day of December, 1959 No. 21 ofx1,000.00 payable lst day of December, 1960 No. 22 of 1,000.00 payable lst day of December, 1961 No. 23 of 1,000.00 payable lst day of December, 1962 No. .24 of P P1,000.00 payable lst day of December, 1963 No. 25 of P1,000.00 payable lst day of December, 1964 No. 26 of 1,000.00 payable lst day of December, 1965 No. 27 of 1,000.00 payable lst day of December, 1966 No. 28 of ,'1,000.00 payable lst day of December, 1967 No. 29 of 81,000.00 payable lst day of December, 1968 No. 30 of 1,000.00 payable lst day of December, 1969 Nos. 31 and 32 of (1,000.00 each payable lst day of December, Nos. 33 and 34 of 1,000.00 each payable lst day of December, Nos. 35 and 36 of 1,000.00 each payable lst day of December, Nos. 37 and 38 of *1,000.00 each payable lst day of December, Nos. 39 and 40 of 11,000.00 each payable lst day of December, Nos. 41 and 42 of (1,000.00 each payable lst day of December, Nos. 43 and 44 of 1,000.00 each payable lst day of December, Nos. 45 and 46 of 81,000.00 each payable lst day of December, Nos. 47 and 48 of 1,000.00 each payable lst day of December, Nos. 49 and 50 of 81,000.00 each payable lst day of December, 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 A kll &Ad, VMARF & DOCK EXTENSION & IMPROVENUNT BONDS 19:29 SERIES D: Forty Thousand Dollars ($40,000.00) Wharf & Dock Extension & Improvement Bonds 1929 Series D, to be divided into forty 1(r40)sbonds of the denomination of One Thousand Dollars (01,000.00) each, to be numbered from one (1) to forty (40) inclusive, payable as follows, respectively: No. 1 of :1,000.00 payable lst day of December, 1940 No. 2 of 1,000°00 payable lst day of December., 1941 No. 3 of '1,000®00 payable lst day of December., 1942 No. 4 of -$1,000.00 payable lst day of December,, 1943 No. 5 of 0.00 -.00 payable lst day of December, 1944 No. 6 of 1,000.00 payable lst day of December., 1945 No. 7 of 1,000®00 payable lst day of December,, 1946 No. 8 of 81,000,00 payable lst day of December., 1947 No. 9 of 1,,000.00 payable lst day of December., 1948 No. 10 of 1,000.00 payable lst day of December, 1949 No. 11 of 41,000,00 payable lst day of December., 1950 No. 12 of A1,000.00 payable lst day of December., 1951 No. 13 of p1,000.00 payable lst day of December., 1952 No. 14 of • 1,000.00 payable lst day of December,, 1953 No, 15 of 1,000.00 payable lst day of December, 1954 No. 16 of '1,000.00 payable lst day of December., 1955 No. 17 of 1,,000.00 payable lst day of December, 1956 No. 18 of 41,000.00 payable lst day of .December, 1957 No. 19 of $1,000.00 payable lst day of December., 1958 No. 20 of 41,000.00 payable 1st day of December, 1959 No. '21 of 11,000.00 payable lst day of December,;1960 No. 22 of 11,000.00 payable lst day of December, 1961 No. 23 of `l, 000.00 payable lst day of December, 1962 No. 24 of 1,000.00 payable lst day of December., -1963 No. 25 of $1,000.00 payable lst day of December, 1964 No. .26 of 13,000.00 payable lst day of December., 1965 No. 27 of 41,000.00 payable lst day of December, 1966 No. 28 of $$1,000.00 payable lst day of December, 1967' No. 29 of ,1,000.00 payable lst day of December, 1968 No.. 30 of '1,000.00 payable lst day of December, 1969 No. 31 of $p1,000.00 payable 1st day of December, 1970 No. 32 of 1,000.00 payable lst day of December, 1971 No. 33 of 1, 000.00 payable lst day of December, 1972 No. 34 of '1,000.00 payable lst day of December, 1973 No. 35 of $1,000.00 payable lst day of December, 1974 No. 36 of $1,000.00 payable 1st day of December, 1975 No. 37 of $ 1, 000.00 payable lst day of December, 1976 No. 38 of :13000.00 payable lst day of December, 1977 No. 39 of 41,000.00 payable lst day of December, 1978 No. 4.0 of $1,000.00 payable lst day of December, 1979 Said bonds to be payable in lawful money of the United States of America and each dated the first day of December, 1939, bonds.maturing December 1, 1940 to December 1, 1957, inclusive, bearing interest at the rate of three and one-half percent (32J) per annum, and bonds maturing December 1, 1958 to December 1, 1979, inclusive, bearing interest at the rate of three and one-quarter percent (3:1kJ) per annum, interest for the first year payable annually on the first day of December, 1940 and for all years thereafter payable semi-annually on the first day of June amd the first day of December• of each year, according to the tenor of the interest coupons to be attached to said bonds. The Mayor shall sign said bonds, and they shall be countersigned and attested by the City Clerk, and registered by the Director of Finance and the seal of the City shall be impressed upon eac'i one of them. The coupons shall be executed with the lithographed signatures of the Mayor and City Clerk. Said bonds and interest coup ons shall be payable upon presentation and surrender at the office of. the Director of Finance of the City of Beaumont, or at the Chase National Bank of the City of New York, in the City of New York, State of New York, at the option of the holder. Section 3 The bonds and interest coupons above -provided for upon their face shall be substantially in words and figures ns follows, to -wit: FIRST. No. 1 FORINT OF BOND UNITED STATES OF AMERICA. STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BEAUMONT SEWERAGE BOND 19.29 SERIES C KNOW ALL VIM BY THESE PRESENTS: $1,000.00 That the City of Beaumont, a municipal corporation in the County of Jefferson, State of Texas, hereby ackxno;ATledges itself to owe, and for value received hereby promises to pay to bearer ONE THOUSAND DOLLARS --_--._W---v-v„_��._��._-�_� ($1,000.00) in lawful money of the United States of America, on the lst day of December, 1940; with interest on said sum from date of this bond at the rate of three and one-half percent (3i%) per annum, interest for the first year payable annually on the lst day of December, 1940, and for each year thereafter payable semi-annually on -the lst day of June and the lst day of December of each year, in lawful money of the United States of .America, as evidenced by and upon present-ation and surrender of the annexed interest coupons as they severally become due. Both principal and interest of this bond are payable at the office of the Director of Finance of the City of Beaumont, or at the Chase National Bank of the City of New York, in the City of New York State of New York, at the option of the holder hereon”, and said City 9 is hereby held and firmly bound and its _full faith and credit and all taxable real and personal property therein are hereby pledged -or the prompt payment of the principal of this bond and the interest thereon as it matures. interest and maturity, numbered from one (1) to fifty (50) inclusive, bonds numbered from one (1) to eighteen (.l8),inclusive, bearing interest at three and one -hall' percent (32J) per annum, and bonds numbered nineteen (19) to fifty' (50) , inclusive, bearing interest at three and one-quarter percent (33kJ) per annum, aggregating in amount FIFTY THOUSAND DOLLARS (550,000.00), said bonds issued by the City of Beaumont for the purpose of making permanent city improvements, to wit: For the purpose of improving, extending and repairing the sewerage system of the City of Beaumont. Said bonds are issued under and by virtue of the Constitution and laws of the State of Texas, aad the Charter of the City of Beaumont, adopted the 30th day of December, A. D. 1919, and the power and authority granted by Sections 13 and 71 of said city charter, and all other provisions in said Charter pertaining to the issuance of bonds, and by Chapter 147 of the General Laws of the State.of Texas passed by the 33rd Legislature at its regular session, Sranting certain powers to cities of more than 5000 inhabitants and by Chapter 9, Acts of the Regular Session of the 37th Legislature, and all amendments thereto, and all other laws of the State of Texas pertaining to and authorizing the issuance of municipal bonds pursuant to an Ordinance duly adopted by the City Commission of the City of Beaumont on the 2nd day of April, 1929, ordering an election on the 4th day of May, 1929, and a Resolution of the City Commission of the City of Beaumont duly passed on the 7th day of May, 19.29, decla_;:ing the result of said election, and in pursuance of an ordinance duly and regularly passed by the City Commission of the City of Beaumont on theQth day of November, A. D. 1939, and of. record in the Minutes of Said City Commission. The date of this bond in conformity with the ordinance above mentioned, is December 1, 19394 .And it is hereby certified, recited and declared that the issuance of this bond and the series of which it is a part is duly authorized by law, and that all acts, conditions and things required to be done precedent to and in the issuance of this bond and of the series of which it is a part, have been properly dome, have happened and been performed in regular and. due time, form and manner as required by law, that sufficient and proper provision for the levy and collection of ad valorem taxes has been .made which When collected shall be appropriated exclusively to the payment of this bond and of the series of which it is a part and to the payment of the interest coupons hereto annexed as the same shall become due and payable, and. that the total indebtedness of said City, including the entire series of bonds of which this is one, does not exceed any constitutional or statutory limitation. And it is hereby recited, certified and declared that the additional tax levied and made necessary to be levied in order to provide for the interest and principal of this issue of bonds, together with the rate of tax existing at the time of the issuance of these bonds, is within the limitations of the Constitution and laws of the St�.te of Texas, and Charter of the City of Beaumont. IN VUTNESS WHEREOF the City Commission of the City of Beaumont, Texas, has caused its corporate seal to be affixed hereto and this bond to be signed by its Mayor, countersigned and attested by its City Clerk and registered by its Director of Finance, and the interest coupons hereto attached to be executed by the facsimile sig_na_tures of its Mayor and its City Clerk, as of the lst day of December, Ili. D. 1939• Countersigned and Attested: City Clerk of the City of Beaumont, Texas (Seal) Registered: iree'ffdee r--Tco City of Beaumont, Texas. Mayor of the CitTJof Beaumont, Texas. On the day of , 19_, the City of Beaumont, State of Texas, will pay to bearer at the office of the Director of Finance of the City of Beaumont, at Beaumont, Texas, or at the Chase National Bank of the City of New York, in the City of New York, State of New York, at the option of the holrIer, SEVENTEEN and 50/100 DOLLARS ($17.50) lawful money of the United States of America, being six months' interest due that date on its Sewerage Bond 1929 Series C dated the lst day of December, 1939, No. • Mayor of the ity of Beaumont, .ATTEST: Texas. City Clerk of the City of Beaumont, Texas. Interest coupon No. 1 on Sewerage Bonds 19:29 Series C numbered one (1) to eighteen (18) , inclusive, shall be in the sum of Thirty-five and no/100 Dollars ($35-00),. and on bonds numbered nineteen (19) to .fifty (50), inclusive, shall be in the sum of Thirty-two and 50/100 Dollars (,$3:2.50), being one year's interest to be paid on December 1, 1940. The remaining interest coupons on said bonds shall be in substantially the above form, but those attach- ed to bonds numbered one (1) to eighteen (18) inclusive, shall be in the sum of Seventeen and 50/100 Dollars (;17.50) being six months' interest on said bonds, and those attached to bonds numbered nineteen (19) to fifty (50), inclusive, shall be in the sum of Sixteen and '25/100 Dollars ($U.25), being six months' interest on said bonds_. Said coupons shall be payable every six months on the lst day of June and the lst day of December of each year until fully paid. SECOND. No. 1 FORM OF BOND UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BEAUMONT WHARF & DOCK EXTENSION AND IMPROVEIZENT BOND 1929 SERIES D KNOW ALL MEN BY THESE PRESENTS: $1,000.00 That the City of Beaumont, a municipal corporation in the County of Jefferson, State of Texas, hereby acknowledges itself to owe, and for value received hereby promises to pay to bearer ONE THOUSAND DOLLARS ----------------------------------- 011 000.00 ) in lawful money of the United States of America, on the lst day of December, 1940, with interest on said sum from date of this bond at the rate of three and one-half percent (3o) per annum, interest for the first year payable annually on the lst day of December, 1940, and for each year thereafter payable semi-annually on the lst day of June and the lst day of December of each year, in lawful money of the United States of America, as evidenced by and upon presentation and surrender of the _annexed interest coupons as they severally become due. Both principal and interest of this bond are payable at the office of the Director of Finance of the City of Beaumont, or at the Chase National Bank of the City of New York, in the City of New York, State of New York, at the option of the holder hereof, and said City is hereby held anal firmly bound and its full faith and credit and :all taxable real and personatproper•ty therein are hereby pledged for the prompt payment of the principal of this bond and the interest thereon as it matures. eighteen (13), inclusive, bearing interest at three and one-half Percent (32f) per annum, and bonds 4umbered nineteen (19) to forty (40), inclusive, bearing interest a49 three and one-quarter percent (limo) per annum, aggregating in amount FORTY THOUSAND DOLLARS ($40,000.00), said bonds issued by the City of Beaumont for the purpose of making permanent city improvements, to -wit: For the purpose of acquiring additional necessary sites for wharves and docks for the City of Beaumont and improving and equipping the saTae. 6aid bonds are issued under and by virtue of the Constitution and laws of the State of Texas, and the Charter of the City of Beaumont adopted the 30th day of December, A. D. 1919, and the power and authority granted by Sections lg and 71 of said city charter, and all other provisions in said Charter pertaining to the issuance of bonds, and by Chapter 147 of. the General Laws of the State of Texas passed by the 33rd Legislature at its regular session, granting certain powers to cities of more than 5000 inhabitants and by Chapter 9, _gets of the Regular Session of the 37th Legislature, and all amendments thereto, and all other laws of the State of Texas pertaining to and authorizing the issuance of municipal bonds pursuant to an Ordinance duly adopted by the City Commission of the City of Beaumont on the 2nd day of April, 1929, ordering an election on the 4th day of May, 1 29, and a Resolu- tion of the City Commission of the City of Beaumont duly passed on the 7th day of May, 1929, declaring the result of said election, and in pursuance of an ordinance duly and regularly passed by the City Com- mission of the City of Beaumont on the l7th day of November, A. D.. 19398 and of record in the Minutes of said City Commission.` The date of this bond in conformity with the ordinance above mentioned, is December 1, 1939. And it is hereby certified, recited and declared that the issuance of this bond and the series of which it is a part is duly authorized by law,_and that all acts, conditions and things required to be done precedent to and in the issuance of this bond and of the series of which it is a part, have been properly done, have happened and been performed in regular and due time, form and manner as required by law, that sufficient and proper provision for the levy and collection of ad valorem taxes has been made which when collected shall be appropriated exclusively to the payment of this bond and of the series of which it is a part and to the payment of the interest coupons hereto annexed as the same shall become due and payable, and that the total indebtedness of said city, including the entire series of bonds of which this is one, does not exceed any constitutional or statutory limitation. And it is hereby recited, certified and declared that the additional tax levied and made necessary to be levied in order to provide for the interest and principal of this issue of bonds, together with the rate of tax existing at the time of the issuance of these bonds, is within the limitations of the Constitution and laws of the State of Texas, and Charter of the City of. Beaumont. IN WITNESS WHEREOF, the City Commission of the City of Beau- mont, Texas, has caused its corporate seal to be affixed hereto and this bond to be signed by its Mayor, countersigned and attested by its City Clerk, and registered by its Director of Finance, and the interest coupons hereto attached to be executed by -the facsimile signatures of its Mayor and its City Clerk, as of the 1st day of December, A.D. 1939• Countersigned and Attested: City Clerk of the City of Beaumont, Texas (Seal) Registered: Director of Finance of the City of Beaumont, Texas. Mayor of the City of Beaumont, Texas of Finance of the City~ofVBeaumont,0.at�Beaumont� Texas, orrattthe Chase National Bank of the City of New York, in the City of New York, State of New York, at the option of the holder, SETTEE and 50/100 DOLLARS ($17.50) lawful money of the United States of America -'being six months' interest due that date on its Wharf & Dock Extension and Improvement Bond 1929 Series D dated the lst day of December, 1939, Nom . ATTEST: Mayor of. the City of Beaumont, Texas. City Clerk of the -City of Beaumont, Texas® Interest coupon No. 1 on Wharf & Dock Extension and Improvement Bonds 1929 Series D numbered one (1) to eighteen (18), inclusive, shall be in the sum of Thirty-five and no/100 Dollars (:35600), and on bonds numbered nineteen (19) to forty (40), inclusive shall be in the sum of Thirty-two and 50/100 Dollars ($2.50), beingoneyear's interest to be paid on December 1, 19.0.- The remaining interest coupons on said bonds shall be in substantially the above .fora., but those attached to bonds numbered one (1) to eighteen (18) inclusive, shall be in the sum of Seventeen and. 50/100 Dollars ($17,50) being six months' interest on said bonds, and those attached to bonds numbered. nineteen (19) to forty (40) inclusive, shall be in the sum of Sixteen and 25/100 Dollars (416.25), being six months' interest on said bonds. Said coupons shall be payable every six months on the 1st day of June and the lst day of December of each year until fully paid. Section A The following certificate shall be printed on the back 'of each bond: OFFICE OF COMPTROLLER THE STATE OF TEXAS I hereby certify that there is on file and of record in my office a certificate of the Attorney General of the State of Texas, to the effect that this bond has been examined by him as required by law and that he finds that it has been issued in conformity with the Constitution and laws of the State of Texas, and that it is a valid and binding obligation upon said City of Beaumont, Texas, and said bond has this day been registered by me. WITNESS my hand and seal of office at Austin, Texas, this the day of.e-a 19396 Comptroller of Public Accounts of the State of Texas® Section It is further ordained that the Mayor be authorized and he is hereby directed to take and have charge of the above described bonds pending their investigation by the Attorney General of the State of Texas, and upon their approval and registration he shall proceed to sell the same at no less than their face value and accrued interest, at public or private sale, and the proceeds of such sale shall be deposited with the Director of Finance of the City of Beaumont, and the proceeds of said bonds shall be used for the purposes of making permanent city improvements, to -wit: .zosSrll� -uo-SSTiud'00 SM sq`1- X SjGq 9m TTP JO OgCk a.11_ VTa jJJe Gqq lq `S;.uT *a"4 ' egMOAON TO SOP qqj SV4 s : n lassPa `a" SSS 6d 0;! 10 S; p ` ; w1ju pup Moaj Y.ongge 0104 TTugs 00MUM0 SM pout MLi,GHOS l",gc..i_OU ST 0 Ti:1a_ c TUS PUP 'OSSS20d. n ` aqq y ao"Gq stop aq v.__edas 08agq U0 POGO aq 0; Sn..rueulpao 9ul.a ;nbea Mna Oqq K U0T2UGJSnS PKZ 2LLM"_i,-ZS` OOGu WaWGM OTTgnd- GkjjnaeT T UP e+'TPWO SUCTM 00 7017M 90 TTS' ?'LiP q0 y aquOwttrccC7.�. 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WHEREAS, on the 23rd day of August, 1938, an ordinance was duly passed by the affirmative vote of all members of the City Commission of the City of Beaumont, whereby a. bond election was ordered to be held in said City on the 16th day of September, A.. D. 1938; and WHEREAS, in said election held in the City of Beaumont on the 16th day of September, A. D. 1938, the voters of the City of Beaumont qualified to vote at said election did authorize the City Commission of the City of Beaumont to issue bonds of said City payable serially in from one (1) to thirty (30) years from date, said bonds to be in the following amounts and the money to be derived therefrom to be used for the following purposes, to wit: For the purpose of improving, extending, equipping and repairing the present airport of the City of Beaumont $175,000.00 For the purpose of building and equipping a combined assembly hall and recreation building /0,000.00 AND, VIHEREAS, it is deemed expedient and advisable at this time to issue said bonds under and by virtue of the authority conferred by said election of date September 16, 1938. The fact that the present airport of the City of Beaumont is inadequate and repairs, improvements and additions thereto are imperatively needed to facilitate the transportation,of mails and for adequate and efficient communication and transportation by air for the City of Beaumont; and an adequate assembly hall and recreation building is badly needed for the convenience of the people of the City of Beaumont and for the proper recreation and amusement and training of the people of Beaumont; each and all of which conditions create an imperative public necessity requiring this ordinance to take effect immediately as an emergency measure. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COIIQlIISSION OF THE CITY OF Bk,'A_U1/',ONTm Section 1 That the City of Beaumont shall issue bonds as herein- after described. for and on behalf of and upon the credit of the City of Beaumont to borrow to the extent of TWO HUNDRED FIFTEEN THOUSAND DOLLARS ($215,000.00), to be devoted to and expended for the following purposes, to -wit: One Hunared Seventy-five Thousand Dollars ($175,000.00) for the purpose of improving, extending, equipping and repairing the present airport of the City of Beaumont. Forty Thousand Dollars ($.10,000.00) for the purpose of building and equipping a combined assembly hall and recreation building. The said bonds provided for herein shall be and -are issued under and by virtue of the Constutition and laws of the State of Texas and the Charter of the City of Beaumont adopted the 30th day of December, 1919, and the power and authority granted by Sections lg and 71 of said City Charter, and all other provisions in said Charter pertaining to the issuance of bonds, and by Chapter 14.7 of the General Laws of the State of Texas passed by the 33rd Legislature at its regular session, granting certain powers to cities of more than five thousand inhabitants, and by Chapter 9 of the Acts of the Regular Session of the 37th Legislature and all amendments to said Acts, and all other laws of the State of Texas pertaining to and authorizing the issuance of said bonds. Section 2 The said bonds in the sum of Two Hundred Fifteen Thousand Dollars ($2159000.00) shall be divided into two (2) series, and each series divided into thirty (30) installments and said series of said bonds shall be known and called each respectively "Airpaort Bonds", and 44Assembly Hall and Recreation Building Bonds", and the Mayor of the City of Beaumont is hereby authorized and directed to have prepared and executed a set of bonds for each of said purposes as follows: AIRPORT PONDS® One Hundred Severity five Thousand Dollars ($175,000.00) Airport Bonds, to be divided. into one hundred seventy- five eventy-five (175) bonds of the denomination of One Thousand Dollars ($1,000.00) each, to be numbered. from one (1) to one hundred seventy- five (175) inclusive, payable as follows, respectively Nos. 1 to 3 of1,000.00 each payable lst day of -December, 1940 Nos. 4 to 6 of 11,000.00 each payable lst day of December, 1941 Nos. 7 to 9 of .x,1,000.00 each payable lst day of December, 1942. Nos. 10 to 1.2 of1,000.00 each payable lst day of December, 1943 Nos. 13 to 15 of -1,000.00 each payable lst day of December, 1944 Nos. 16 to 19 of ,1,000.00 each payable lst day of December, 1L45 Nos. 20 to 23 of 1,000.00 each payable lst day of December, 1946 Nos. 24 to 27 of '1,000.00 each payable lst day of December, 1947 Nos. 28 to 31 of x'1,000.00 each payable lst clay of December, 1948 Nos. 32 to 35 of ill,000.00 each payable lst day of December, 1949 Nos. 36 to 41 of R,000-.00 ,000.00 each payable lst day of December, 1950 Nos. 42 to 47 of each payable lst day of December, 1951 Nos. 48 to 53 of 1,000.00 each payable lst day of December, 1952 Nos. 54 to 59 of 1,000.00 each payable lst day of December, 1953 Noss 60 to 65 of 41,000.00 each payable lst day of December, 1954 Nos. 66 to 72 of §.1,000.00 each payable lst day of December, 1955 Nos. 73 to 79 of 1,000.00 each payable ist day of December, 1956 Nos. 80 to 86 of $1,000.00 each payable 1st day of December, 1957` Nos. 87 to 9of $1,000.00 each payable lst day of December, 1958 Nos. 94 to 100 of ql,000.00 each payable lst day of December, 1959 Nos. 101 to 107 of 1,000.00 each payable lst day of December, 1960 Nos. 108 to 114 of 1,000.00 each payable lst day of December, 1961 Nos. 115 to 121 of :1,000.00 each payable lst day of December, 1962 Nos. 122 to 128 of 1A1)000.Ob each payable lst day of December, 1963 Nos. 129 to 135 of $1,000.00 each payable lst day of December, 1964 Nos. 136 to 143 of 11,000.00 each payable lst day of December, 1965 Nos. 144. to 151 of 1,000.00 each payable lst day of December, 1966 Nos. 152 to 159 of ;1,000.00 each payable lst day of .December, 1967 Nos. 160 to 167 of $1,000.00 each payable .1st day of December, 1968 Nos. 168 to 175 of $1,000.00 each payable lst day of December, 1969 ASSHH2MLY HALL AND RECREkTION BUILDING BONDS: Forty Thousand Dollars ($40,000.00) Assembly Hall and Recreation Building Bonds, to be divided into fort7Lgonds of the denomination of One Thousand Dollars ($1,000.00) each, to be membered from one (1) to forty (4O) inclusive, payable as follows, respectively: No. 1 of $1,000.00 payable lst day of December, 1940 No. 2 of'1,000.00 payable lst day of December, 1941 No. 3 of 1,000.00 payable lst day of December, 1942 No. 4 of 1,000.00 payable lst day of December, 1943 No. 5 of 81,000.00 payable lst day of December, 194.4 No. 6 of $1,000.00 payable lst day of December, 1945 No. 7 of 11,000.00 payable lst day of December, 1946 No. 8 of 91,000.00 payable lst day of December, 1947 No. 9 of 19000.00 payable lst day of December, 1948 No. 10 of 1-1,000.00 payable lst day of December, 1949 No. 11 of A1,000.00 payable lst day of December, 1950 No. 12 of 1,000.00 payable lst day of December, 1951 No. 13 of 1,000.00 payable lst day of December, 1952 No. 14 of S1,000.00 payable Ist day of December, 1953 No. 15 of $1,000.00 payable lst day of December, 1954 No. 16 of 41,000.00 payable lst day of December, 1955 No. 17 of 41,000.00 payable lst day of December, 1956 No. 18 of 1,000.00 payable lst day of December, 1957, No. 19 of1,000.00 payable lst day of December, 1958 No. 20 of1,000.00 payable lst day of December, 1959 Nos.21 and 22 of 01,000.00 each payable lst day of December, Nos.:23 and 24 of 1,000.00 each payable lst day of December, Nos.25 and 26 -of n1,000.00 each payable lst day of December, Nos.27 and 28 of 1,000.00 each payable 1st day of December, Nos.29 and 30 of 11,000.00 each payable lst day of December, Nos -31 and 32 of x'1,000.00 each payable lst day of December, Nos.33 and 34 of 411-000.00 each payable lst day of December, Nos.35 and 36 of :1,000.00 each payable lst day of December, Nos -37 and 38 of 1,000.00 each payable -1st day of December, Nos -39 and 40 of X1,000.00 'each payable hst day of December, 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 Said bonds to be payable in lawful money of the United. States of America and each dated the first day of December, 1939, bonds maturing December 1, 1940 to December 1, 1957, inclusive, bearing interest at the rate of three and one -half - percent (32%) per annum, and bonds maturing December 1, 1958 to December 1, 1969, inclusive, bearing interest at the _rate of three and one-quarter percent (3g%) per annum, interest for the first year payable annually on the first day of December, 190 and for all years thereafter payable semi-annually on the first day of June and the first day of December of each year, according to the tenor of the interest coupons to be attached to said bonds® The Mayor shall sign said bonds, and they shall be counter- signed and attested by the City Clerk, and registered by the Director of Finance and the seal of the City shall be impressed upon each one of them. The coupons shall be executed with the lithographed signatures of the Mayor and City Clerk. Said bonds and interest coupons shall be payable upon presentation and surrender at the office of the Director of Finance of the City of Beaumont, or at the Chase National Bank of the City of New York, in the City of New York, State of New York, at the option of the holder. Section 3 The bonds and interest coupons above provided for upon their face shall be substantially in words and figures as follows, to -wit: FIRST. FORM OF BOND UNITED STrTES OF AMERICA STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BEAUMONT No. 1 $1,000>00 AIRPORT BOND KNOW -ALL TVIEN BY THESE PRESa TS : That the City of Beaumont, a municipal corporation in the County of Jefferson, State of Texas, hereby acknowledges itself to owe, and for value received hereby promises to pay to bearer ONE THOUSAND DOLLARS --------------------------------- ($1,000.00) in lawful money of the United States of America, on the lst day of December, 1940, with interest on said sum from date of this bond at the rate of three and one-half percent (3 -i -fl per annum, interest for the first year payable annually on the lst day of December, 1940, and for each year thereafter payable semi-annually on the lst day of June and the lst day of December of ;tach year, in lawful money of the United States of America, as evidenced byand upon presentation and surrender of the annexed interest coupons as they severally become due. Both principal and interest of this bond are payable at the office of the Director of Finance of the City of Beaumont, or at the Chase National Bank of the City of New York, in the City of New York, State of New York, at the option of the holder hereof, and said City is hereby held and firmly bound and its full faith sand credit and all taxable real and personal property therein are hereby pledged for the prompt payment of the principal of this bond and the interest thereon as it matures_ 1nclussve, oonas numoerea from Oile `s.l UQ Ujt_}aUy isJL � Qu j bearing interest at three and one-half percent (32%) per annum, and bonds numbered eighty- even (87). to one hundred seventy-five (175) inclusive, bearing interest at three and one-quarter percent (31%) per annum aggregating in amount ONE HUNDRED SEVENTY-FIVE THOUSAND DOLLARS (1,175,000.00), said bonds issued by the City of Beaumont for the purpose of making permanent city improvements, to wit: For the purpose of improving, extending, equipping and repairing the present airport of the City of Beaumont. Said bonds are issued under and by virtue of the Constitution and laws of the State of Texas, and the Charter of the City of Beaumont, adopted the 30th day of December, A. D. 1919, and the power and authority granted. by Sections 18 and 71 of said city charter, and all other provisions in said Charter pertaining to the issuance of bonds, and by Chapter 147 of the General Laws of the State of Texas passed by the 33rd Legislature at its regular -session, granting certain powers to cities of more than 5000 inhabitants and by Chapter 9, Acts of the Regular Session of the 37th Legislature, and all amendments thereto, and all other laws of the State of Texas pertaining to and authorizing the issuance of municipal bonds pursuant to an Ordinance duly adopted by the City Commission of the City of Beaumont on the 23rd day of August, 1938, ordering an election on the 16th day of September, 1938, and a Resolution of the City Commission of the City of Beaumont duly passed. on the 20th day of September, 1938, declaring the result of said election, and in pursuance of an ordinance duly and regularly passed by the City Commission of the City of Beaumont on the 9th day of November, A. D. 1939, and of record in the Minutes of said City Commission. The date of this bond in conformity with the ordinance above mentioned, is December 1, 1939. And it is hereby certified, recited and declared that the issuance of this bond and the series of which it is a part is duly authorized by law, and that all acts, conditions and things required. to be done precedent to end in the issuance of this bond and of the series of which it is a part, have been properly done, have happened and been performed in regular and due time, form and manner as required by law, that sufficient and proper provision for the levy and collection of ad valorem taxes has been made which when collected shall be appropriated exclusively to the payment of this bond and of the series of which it is a. part and to the payment of the interest coupons hereto annexed as the same shall become due and payable, and that the total indebtedness of said City, including the entire series of bonds of which this is one, does not exceed any constitutional or statutory limitation. And it is hereby recited, certified and declared that the additional tax levied and made necessary to be levied in order to provide for the interest and principal of this issue of bonds, togeth( with the rate of tax existing at the time of the issuance of these bonds, is within the limitations of the Constitution and laws of the State of Texas, and Charter of the City of Beaumont. IN WITNESS VVHEFE-OF the City Commission of the City of Beaumont Texas, has caused its corporate seal to be affixed hereto and this boi to be signed by its Mayor, countersigned and attested. by its City Cle: and registered by its Director of Finance, and the interest coupons hereto attached to be executed by the facsimile signatures of its Mayor and its City Clerk, as of the 1st day of December, A.D. 1939• Countersigned and Attested: Mayor of the City of Beaumont, Texas. City Clerk of the City of Beaumont, Texas (Seal) Registered: ire -c -or of Finance o e City of Beaumont, Texas. No. 2 $17.50 On the day of , 19_, the City of Beaumont, State of Texas, will pay to bearer at the office of the Director of Finance of the City of Beaumont, at Beaumont, Texas, or at the Chase National Bank of the City of New York, in the City of New York, State of New York, at the option of the holder, SEVENTEEN and 50/100 DOLLARS ($17.50) lawful.money of the United States of America, being six months' interest due that date on its Airport Bond dated the lst day of December, 1939, No. ATTEST: Mayor- of the City of Beaumont, Texas. City Clerk of the City of Beaumont, Texas. Interest coupon No. 1 on Airport Bonds numbered one (1) to eighty-six (86) inclusive, shall be in the sum of Thirty-five and no/100 Dollars ($35-00), and on bonds numbered eighty-seven (87) to dne hundred seventy-five (175) inclusive, shall be in the sum of Thirty-two and 50/100 Dollars ($32.50), being one year's interest to be paid on December 1, 1940. The remaining interest coupons on said bonds shall be in substantially the above form, but triose attached to bonds numbered one (1) to eighty-six (86) inclusive, shall be in the sum of Seventeen and 50/100 Dollars ($17.50) being six months° interest on said bonds, and those attached to bonds numbered eighty- seven (87) to one hundred seventy-five (175) inclusive, shall be in the sum of Sixteen and 25/100 Dollars ( $;,16.25) , being six months' interest on said bonds. Said coupons shall be payable every six months on the lst day of June and the lst day of December of each year until fully paid. SECOND. FORM OF BOND UNITED STATES OF AMERICA STATE OF TEXAS COUN`T'Y OF JEFFERSON CITY OF BEAUMONT No. 1 $1,000.00 ASSEXILY HALL AND RECREATION BUILDING BOND KNOW ALL MEDT BY THESE 1RESENITS: That the City of Beaumont, a municipal corporation in the County of Jefferson, State of Texas, hereby acknowledges itself to owe, and for value received hereby promises to pay to bearer ONE THOUSAND DOLLARS m_®_____ev-____-e-a__sm_-o®_so. ----($1,000.00) in lawful money of the United States of America, on the lst day of December, 1940, with interest on said sum fr°on date of this bond at the rate of three and one-half percent (3121o) per annum, interest for the first year payable annually . on the 1st day of December, 1940, and for each year thereafter payable semi-annually on the lst day of June and the lst day of December of each year, in lawful money of the United States of America, as evidenced. by and upon presentation and surrender of the annexed interest coupons as they severally become due. Both principal and interest of this bond are payable at the office of the Director of Finance of the Ctty of Beaumont, or at -the Chase National Bank of the City of New York, in the City of New York, State of New York, at the option of the holder hereof, and said City is hereby held and firmly bound anu its full faith and credit and all taxable real and personal property therein are hereby pledged for the prompt payment of the principal of this bond and the interest thereon as it matures. -- • -, j. i... ­ ­ - v l - --L-- V 11 c 011411 _/ G 1 13 G11 1+ % J 2 /o l PU.L7 UILUA l"t , 'and bonds numbered nineteen (19) to forty (40) inclusive, bearing interest at three and one-quarter mcent (31%) per annum, aggregating in amount FORTY THOUSAND DOLLARS (,000.00), said bonds issued by the City of Beaumont for the purpose of making permanent city improvements, to wit: For the purpose of building and equipping a combined assembly hall and recreation building. Said bonds are issued under and by virtue of the Constitution and laws of the State of Texas, and the Charter of the City of Beaumont adopted the 30th day of December, A.D. 1919, and the power and authority granted by Sections 18 and 71 of said city charter, and all other provisions in s yid Charter ioertain-ing to the issuance of bonds, anal by Chapter 14.7 of the General Laws of the State of Texas passed by the 33rd Legislature at its regular session, granting certain powers to cities of more than 5000 inhabitants and by Chapter 9, Acts of the Regula_` Session of the 37th Legislature, and all amendments thereto, and all other laws of the State of Texas pertaining to and authorizing the issuance of municipal bonds pursuant to an Ordinance duly adopted by -the City Commission of the City of Beaumont on the 23rd day of August, 1938, ordering an election on the 16th day of September, 1938, and a Resolution of the City Commission of the City of Beaumont duly passed on -the 20th day of September, 1938, declaring the result of said election, and in pursuance of an ordinance duly and regularly passed by the City Commission of the City of Beaumont on the 7th day of November, A. D. 1939, and of record in the Minutes of said City Commission. The date of this bond in conformity with the ordinance above mentioned, is December 1, 1939. .And it is hereby certi-Jied, .recited and declared 'that the issuance of -this bond and the series of which it is a part is duly authorized by law, and that all acts, conditions and things required to be done precedent to and in the issuance of. this bond and of the series of which itis a part, have been properly dome; have happened and been performed in regular and due tune, form and manner as required by law, that sufficient and proper provision for the levy and collection of ad valorem taxes has been made which when collected shall be appropriated exclusively to the payment of this bond and of the series of which it is a part and to the payment of the interest coupons hereto annexed as the same shall become due and payable, and that the total indebtedness of said city, including the entire series -of bonds of which this is one, does not exceed any constitutional or statutory limitation. Ahd it is hereby recited, certified and declared that the additional tax levied and made necessary to be levied in order to provide for the interest and principal of this issue of bonds, together with the rate of tax existing at the time of the issuance of these bonds, is within the limitations of the Constitution and laws of the State of Texas, and Charter of the City of Beaumont. IN VITNESS !&!HEREOF, the City Commission of the City of Beau- mont, Texas, has caused its corporate seal to be affixed hereto and this bond to be signed by its Mayor, countersigned and attested by its City Clerk, and registered by its Director of Finance, and the interest coupons hereto attached to be executed by the facsimile signatures of its Mayor and its City Cleric, as of the 1st day of December, A.D. 1939. Mayor of the 'ity of Beaumont, Texas. Countersigned and Attested: City Clerk of the City of Beaumont, Texas (Seal). Registered: Director of Finance of the City of Beaumont, Texas. FORA OF COUT20N No. 2 417,50 On -the day of _ , lg_, the City of Beaumont, State of Texas, will pay to bearer at the office of the Director of Finance of t'rie City of Beaumont, `at Beaumont, Texas, or at the Chase National Bank of the City of New York, in_t:ae City of New York, State of New York, at the option of the holder, SEVD T M.a and 50/100 DOLLARS (:17.50) lawful money of the United States of l�-merica, being six months' interest due that date on its Assembly Hall and Recreation Building Bond dated the lst day of December, 1939, No. �a9 ATTEST: Mayor of the City of Beaumonu, exa.s. City Clerk of the City of Beaumont, Texas. Interest coupon No. 1 on Assembly Hall and Recreation Building Bonds numbered one (1) to eighteen (18), inclusive, shall be in the sum of Thirty-five and no/100 Dollars (05.00), and on bonds numbered nineteen (.19) to forty (0) inclusive, shall be in the sum of Thirty-two two and 50/100 Dollars (432.50), being one year's interest to be paid on December 1, 1940. The remaining interest coupons on said bonds shall be in substantially the above form, but those attached to bonds numbered one (1) to eighteen (181 inclusive, shall be in the sum of Seventeen and 50/100 Dollars (4-17.50) being six months' interest on said bonds, and those attached to bonds numbered nineteen (191 to forty (.40) inclusive, shall be in the sum of Sixteen and 25/100 Dollars ($16.25), being six months' interest on said bonds. Said coupons shall be payable every six months on the lst day of June and the lst day of December of each year until fully paid. Section 4 The following certificate shall be printed on the back of each bond: OFFICE OF COMPTROLLER THE STATE OF TEXAS I hereby certify that there is on file and of record in my office a certificate of the Attorney General of the State of Texas, to the effect that this bond has been examined by him as required by law and that he finds that it has been issued in conformity with the Constitution and lawsof the State of Texas, and that it is a valid and binding obligation upon said City of Beaumont, Texas, and said bond has this day been registered by ane. WITNESS my hand and seal of office at Austin, Texas, this the day of 1939• Comptroller of Public Aceounts�' of the State of Texas. Section It is further ordained that the Mayor be authorized and he is hereby directed to take and have charge of the above described bonds pending their investigation by the Attorney General of the State of Texas, and upon their approval and registration he shall "proceed to sell the same at no less than their face value and accrued interest, at public or private sale, and the proceeds of such sale shall be deposited with the Director of Finance of the City of Beaumont; and the proceeds of said bonds shall 'be used for the purposes of making permanent city improvements, to - wit: For the purpose of improving, extending, equipping and repairing the present airport of the City of Beaumont. For the purpose of building and equipping a combined assembly hall and recreation building. R P n t i nn h It is further ordained that for the purpose of paying the interest on said Airport Bonds, as well as the various installments of principal as the same shall respectively mature, a sufficient tax on each one hundred dollars valuation of all taxable property in the City of Beaumont shall be annually levied on said property and annually assessed and collected, and a tax of $.0325 on each one hundred dollars valuation of all taxable property within the City of Beaumont, is here and now levied for the year 1939, and said tax, or so ;ouch thereof as shall be necessary or in addition thereto as may be required, is hereby levied for each succeeding year while said bonds or any number thereof are outstanding, and the same shall be annually assessed and collected and applied to the purpose named. It is further ordained that for the purpose of paying the interest on said Assembly Hall and Recreation Building Bonds, as well as the various installments of principal as the same shall respectively mature, a sufficient tax on each one hundred dollars valuation of all taxable property in the City of Beaumont shall be annually levied on said property and annually assessed and collected, and a tax of $.008 on each one hundred dollars valuation of all taxable property within the City of Beaumont, is here and now levied for the year 1939, and said tax, or so much thereof as shall be necessary or in addition thereto as may be required, is hereby levied for each succeeding year while said bonds or any number thereof are outstanding, and the same shall be annually assessed and collected and applied to the purpose named. Section 7 All ordinances and parts of ordinances and all resolutions and parts of resolutions inconsistent with the provisions of this Ordinance are hereby rescinded and repealed, provided, however, that if --any portion of this ordinance should be declared invalid such invalidity shall in no way affect the remaining valid portions hereof. Section 8 The fact that the present airport of the City of Beaumont is inadequate and repairs, improvements and additions thereto are imperatively needed to facilitate the transportation of mails and for adequateand efficient communication and transportation by air for the City of Beaumont; and an adequate assembly hall and recreation building is badly needed for the convenience of the people of the City of Beaumont and for the proper recreation and amusement and training of the people of Beaumont; each and all of which conditions create an imperative public emergency necessitating the suspension of the rule requiring ordinances to be read on three separate days before the passage of the ordinance, and said rule is hereby suspended and this ordinance shall take effect from and after the date of its passage. Passed this the 7th day of November, A.D. 1939, by the affirmative vote of all members of the City Commission.