HomeMy WebLinkAboutORD 28-AAN ORDINANCE
OF
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.Q G SUTToN,
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Entitled an Ordinance authorizing the issuance
of bands for the purpose of purchasing land within
the limits of the Cit; of Beaumont and.. constructing
thereon, wharves, wharf terminals, including docks
wsxehouses, elevz�,or,s loading and unloading devices
and terrain`'_ *- -the City of Beaumont,
and provid�i�� le y ng and collection -of a
tax to pay �t3ecreate a sinking fund
for the redemption of said bonds.
Whereas, at an election held for the purpose
on the 11th day of 1,13y,, A.D.1914, a majority of the
qualified voters'who are property tF4 pEiyers of the Cit
of Beaumont voting at said election sustained the pro-
position to issue the bonds hereinafter described by a'
vote of 423 for the issuance of said bonds to a vote
of 151 a;ainst the issuance of said bonds, therefore;
BE IT ORDAI I'ED BY THE CITY COUNCIL OF THE CITY OF BEAMONT :
That til e```a y��;', 4s sue d by the City
of Beaumont, Texas, the bond..s of said city to be called
"City of Beaumont ��iharf and Dock Bonds," for the purpose
of borrowing money upon the credit of this city, such
money to be used in rnzrchasing land within the limits
of the city of Beaumont and constructing thereon, wharves,
whaxf teriuinals, including docks, warehouses, elevators,
loading and unloading devices, and terminal v�3 for
the City of Beaumont.
_ .gn0+i nn9_
Said bonds shall be numbered frorn 1 to 1_75,
inclusive, and shall be of the denomination of One
iwic)r^ PPr,11 qo-D'•NPDA+i 0. +1•la criri n -P
Entitled an Ordinance authorizing the issuance
of bands for the purpose of purchasing land within
the limits of the City of Beaumont and constructing
thereon, wharves, wharf terminals, including docks
warehouses,, ]v �or�s load.ing and unloading devices
and termin - "the City of Beaumont, '
and provi"ng and collection of a
tax to pay "t e, ' t t t 1�and create a sinking fund
for the redemption of said bonds'.
Whereas, at an election held for the purpose
on the 11th day of ld3y, A.D.1914, a majority of the
qualified votexs'who are pr operty ta4 payers of the Cit
of Beaumont voting at said election sustained the\pro-
yosition to issue the bonds hereinafter described'by a
vote of 423 for the issuance of said bands to a vote
of 151 against the issuance of said bonds, therefore;
BE IT ORDAIJ"ED BY THE CITY. COUNCIL OF THE CITY OF BE AUMONT :
That the r a - shale'` be issued- by the City
of Beaumont, Texas, the bonds of said city to be called
"City of Beaumont Wharf and Dock Bonds," fox the purpose
of borrowing money aeon the credit of this city, such
money to be used. in purchasing land within the limits.,,,
of the city of Beaumont and constructing thereon, wharves,
wharf terminals, including docks, warehouses, elevators,
loading and unloading devices, and terminal VQ%�� for
-the City of Beaumont.
Rnn+iM')9_
_.. Said bonds shall be numbered from 1 to 175,
inclusive, and shall be of the denomination of One
Thous.nd0$lOOO.00) Dollars each, aggregating the sum,of
One Hundred and Seventy-five Thousand ($175000.00)Dollarsg
and shall be payable in Gold Coin of the United States
of America.
Section 3.
Said Bonds shall be d1 --.ted the 1st da, -%-T of
A.D.1914, and shall.become due and payable forty
/C?
years from that date, but the right is reserved by the
City of Beaumont to redeem said bonds or any number thereof
at any t i -e after twenty years from their date.
-Section 4.
Said Bonds ;3hall bear interest from their
date at the. rate of five per cent per annum, interest
payable semi-annually on the first day ofTuj,,j and the
first day of of each year, according to the
interest and coupons thereto attached.
0'a+;nr V,
Princip4 and interest on said hofids shall
be payable on ;present,,.tion a.nd ,surrender of the bonds or
proper cou-pons in the office of the City Treasurer in
.tli City of Beaumont, or at -the Chase. National Bsnk of
New York City, at the option of the holder -
Section 6.
The Bonds shall. be signed by the m�iyor-,
and countersigned by the City Secretary, and registered
by the City Treasurer, and the seal of the City shall be
impressed on each one of them.
qA r.+A n -n 7- .
The facsimile signature of the Mayor and
City Secretary shall 'be lithographed on each. eo-t,4�ooiA,,o
Section 8.
It is further Ordained by the City Council
I
City of Beaumont to redeem said bonds or any number thereof
at any ti: -e after twenty years from their date.
Said Bonds ,hall bear interest from their
date at the rate of five per cent per annum, interest
payable semi-annually on the first day of lul. and the
first day of .1jd , of each year, according to the
interest and coupons thereto attached.
Section 5.
Principik and interest on said bohds shall
be payal,le on presentation and ,surrender of the bonds or
proper coupons in the office of the City Treasurer in
.the, City of Beaumont, or c/k-the Chase National Bank of
New York City, at the option of the holder -
Section 6.
The Bonds shall be signed by the m�iyor•,
andcountersig-ned by the City Secretary, and registered
by the City Treasurer, and the seal of the City shall be
impressed on each one of them.
Section 7. -
The facsimile signature of the Mayor and
City Secretary shall 'be lithographed on each. Cat,
qn n+,; nr A.
It is further Ordained by the City Council
that to ray the interest on said bonds, and create a
sinking fund sufficient to disc r e there at maturity,
Vt `- Cs4°-a,)
a tax of six 061W cents,�or as much thereof as may be
necessary on each One Hundred ($100.00) Dollars valuation
of all taxable property in said City of Beaumont shall
be annually levied on said pro7)ert17 anc shall be annually
assessed and. collected until the said bonds and interest
are raid.
It is further ordained that the Llayor by
authorized, and lie is hdreby directed Io have prepared
175 bonds of the City of Beaumont of the denomination of
One Thousand (01000.00) Dollars each as before described,
and that the I:ayor be authorized to tape and have charge
of said bonds pending their investigation by the Attorney
General of the State of Texas, and upon their al)proval
and registration he shall proceed to sell sane at not less
M
than the it face value at public or prAvate sale , <--nd the
proceeds of said sale shall be deposited with the City
Treasu.xer of the Cita of 13eaumont, and it is hereby
made the duty of the Mayor to provide that, said Bonr s
shall be delivered to the purchaser in the City of Beaumont
and payment for same shall also be ria � e in the 'City of
Beaumont.
Passed this the �?� dau A.D.1914.
A-pproved. this the `15 dayo //�10-- A.D.1914.
I. Attest :-
ecretary
M
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.wpm
CITY ATTORNEY
A004=011-Tt, �xXao
June find, 1914.
Holl. Kay ox & City council,
C -I -T -Y.
Gentlemen: -
I hand you herewith an Ordinance
author iz ink; the issuance of Bonds fox the
purpose of constructing ',m xves etc.
Yours very truly,
Ci y Attorney.
Beaumont, Texas. June 2nd, 1914
Hon. Mayor & City Council,
C I T Y.
Gentlemen:-
We, your Board of P»blic ,7orks, to whom
was referred the attached Ordinance, beg t.o, report
that we have carefully examined same, and recommend
that it be adojAed.
Respectfully submitted.
Board of Public `,'forks
.. _ .. _ � _ - - - = �`_' .� - �/�j,. •- - .".fie "�,� _ �_
Beaumont, Texas, June 2nd, 1914.
Fiona Mayor & City Council,
C -I -T -Y.
Gentlemen:
We, ,your Ordinance Coc�ittee, to s,hom was
re-�'er.red the attached Ordinance authorizing the issuance
of Bonds for wharf and doer purposes, beg to report that
we have carefully examined same and find it correct and
recommend it be adopted.
Respectfully submitted
ee •