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HomeMy WebLinkAboutORD 58-AL � t FLED T tS THE—k:YA v, OF— ��_ ...191_. �........._ J G. SUTTON, CITY SECRETARY. a _Asst A N 0 R D I N A IJ C E Entitled an ordinance authorizing the issuance of onds for the purpose of constructing public severs arLd:,necessary laterals within the City of Beaumont, and providing f'or`'the levying and collection of a tax4to pay the interest and create a sinking fund for the redemption of said bonds. Whereas, at an election held for the purpose on: the a 20th day of December, A.D. , 1911, a. majority of the qualified voters, who are property tax payers of the City -of -Beaumont, Texas, voting at said election, sustained the proposition to issue the bonds hereinafter described, by. a vote of /1-7 for the issuance of said bonds to a vote of./V against the issuance of said bonds, Therefore BE IT ORDAIIED BY THE CITY COUNCIL OF THE CITY OF BEAUMONT: Section 1: That there shall be issued by the City of Beaumont, Texas, the bonds of said City to be called "City of Beaumont Sewer Bonds", for the purpose of borrowing money upon the credit of this city, such money to be used in constructing public sewers and .necessary laterals within the City of Beaumont. Section 2. Said bonds shall be, numbered consecutively from one X� to thirty inclusive, and shell be of the denomination of One Thousand ($19000.00) Dollars each, aggregating the sum of Thirty Thousand �9 (4309000.00) Dollars, and shall be payable in lawful money of the United States of America. Section 3.. Said bonds shall be dated the pe7� 1912, and shall become due and payable forty years from their date, but the right is hereby reserved by the City of Beaumont to redeem said bonds or any number thereof at any time after twenty years from their date. Section 4. Said bonds shall bear interest from their date at the rate of five per cent (5L%) per annum, interest payable. semi-annually on the first day of Aa'-'-knd the first day of of each year, acco-fding to the tenor of the interest coupons thereto attached, , IF Section b.. Principal and Inte±est on said bonds shall be 'payable on presentation and surrender of bonds or proper coupon at the office, of the .City' Treasurer of the City of Beaumont or at the Chase National Bank of New York. City, . N.Y., at the option of the holder. Section 6. Said bonds shall be signed by the Mayor,. counter -signed by the City. Secretary and ' registexed by the City Treasurer, .and the seal -of ,the City -shall be impressed upon each one of them. Section 7. The fac'-simile signature of the Mayor and the City,..'Searetary shall be lithographed on the coupons. Section, 8. It.,_.,is. further ordained by the City Council that to pay the int erect on said bondsand create a. sinking fund. sufficient. to dis- charge them at maturity, a tax of one andfiVe�tenths'(.015) cents on each one hundred dollars valuation of- all taxable property in said City of *Beaumont shall .be annually.levied on said. property and shall be annually. assedded and collected until such bonds and int erest- are paid, and, said tax of one and five tenths 1.015) .cents' on the one hundred dollars out.. of a tax of fifty tWo-(.52'( cents on each one huxidred donars property valuationlevied to create the interest and sinking fund to pay the outstanding bonded, ,indebtedness of this city by this council on the 2nd day of May, A.D., 1911, (The ordinance Waking said levy being .of record on page 120, Book 3 of the Minutes of ,this council) is'hereby appropriated and set aside to pay the interest and create the necessary sinking fund for the cur- rent year, and shall be assessed and .collected and so applied, and said tax or so much thereof as may be necessary is hereby levied for each year hereafter while said bonds , or .any .number_ _thereof., are out- standing, and the same shall be annually assessed and collected and applied to the.purposes named. Section .. It is further ordained that the Mayor' be authorized and he is hereby .directed to. have. prepared the 'thirty ,bonds of the City of Beau- Mont of the denomination of One Thousand ($1,000.00) Dollars each as above described; and that the Mayor be authorized to take and have charge of said bonds pending their investigation by the Attorney General of the State of Texas, and ulon their approval and registration, he shall proceed to sell same at not less -than their face value at public or ,private sale, and' the proceeds of such sale shall be deppsited with the City Treasurer of the City of Beau- mont, 'and it is. hereby made the 0ut,y of _the Mayor to provide that said bonds shall'be delivered tothe purchaser in the City of Beau - Mont, and payment for same shall., also be made in the City of Beau - Mont. Approved Atte Passed, this thedayaeday P f cwG-r-' A.D., 1912. by the Mayor on this t of j� A.D•, 1912. Mayor, CityiL:Secretary. 9A2 Be-aumor t , .T. exalt, Jan. :2', 1912. ' To the �on. manor and..City Coune il, ' Beaumont, Texas. Gentlemen: - 'Ve - •17 our Qrdi "ance Ccimmitteo', to whom was referred the ordinance authorizing• the, is-snanee 'ref bonds to he known .as Sewer Bonds, hereto attached, beg to report that we have carefully examined same and recommend. that it be adopted and passed, this the 2nd dair,, of Janiiayny 1912. RPsnec'ully submitted, 0 re54ce. Committee. Beaumont, TI exas, Jane 2, 1912. To the. iion. Mayor and City Council, Beaumont, Texas. Gentleme n: - '7e, your Board of Public '+Yorks, to whom was referred the a..tta,ched ordinance entitled. an ordinance authorizing the i ssua.nee of bonds to be known as .Sewer Bonds, beg to report that Tve halie. carefjxlly examined sar2e, and recommnend that it be adopted and_ ra ,sed-. Recpectf'ully submitted, Bob - U ilic '`i orks . CERTIFICATE OF" PUBLICATION T� STATE OF TEXAS ) COUNTY f?F JB'FFER`:011 I, C. 14e Shless , Mgr. of the Be-u_mont Journal Pub. Co., publishers of a daily newspaper in the City of Beaumont, Texas, do hereby certify that the attached ordinance authorizing the issuance of bonds for the Pur-oose constructing ce%gers has been published one time in the Beauumont Dailyjoi-krnal, on, to -wit: Jan. �, 1912. klgr.Beaurnont Journal pub. Co. i Sworn to and subscribed before me this the 17 day of January, A.D., 1912. . . - _0�� Notary eublic, Jefferson CoiLnty, Texas.