HomeMy WebLinkAboutORD 10-CAN ORDINANCE,
For the issuance of bonds in the sum of Three
Hundred Thousand Dollars ($300,000.00), for the purpose
of making permanent city iiiprovements, to -wit: Complete
permanent public school buildings in the City of Beaumont,
and declaring an emergency.
!?d,
�dHEREAS,s on the 18th day of July,nthe property
tax paying voters of the City of Beaumont, did, by an
election held in the City of Beaumont on said date,
authorize the City Council of the City of Beaumont, Texas,
to issue bonds of said City to the amount of Three Hundred
Thousand (4T300,000.00) Dollars payable serially in from
one to forty years from date in equal annual installments,
bearing interest at the rate of five per (6%) cent per
annum, payable semi-annually; said suln to be used for the
purpose of making permanent city improvements, to -wit:
Complete permanent public school build..ings in the City of
Beaumont, and,
WHEREAS, it is deemed expedient and advisable
at this time to issue bonds in the sum of Three Hundred
Thousand Dollars under the authority conferred by said
election of date July 18th, 1916, NO,J THEREFORE:
BE IT ORDAINET. BY THE CITY COUNCIL OF TTS CITY OF BEATJMONT,
TEXAS:
SEC T ION I .
That the City of Beaumont shall issue bonds
as hereinafter described for and in behalf of and upon
the cred-it of the City of Beaumont, to borrow money to
the extent of Three Hundred Thousand Dollars, (4p'300,000.00)
for the purpose of ma]Ling permanent City Improvements,
to -wit: Complete Permanent public school buildings in
the City of Beaumont.
SECTION I I .
The Mayor -is hereby authorized and directed
to have prepared and, executed three (hundred and twenty (320)
bonds numbered from one to three hundred and twenty, two
hundred and eighty (-280) of said bonds to be of the denomi-
nation
enomi-
nation of One Thousand. (p1,000.00) Dollars each, and. forty (40 )
of said bonds t o be of the denomination of Five Hundred ($600.0CJ)
Dollars each, and payable
in gold
cain of the
United States
of Uer ica of the present
standard
of weight
and fineness.
NOV
i
Each bond shall be dated
1916 and and sai d
bonds shall mature as.
follows;
$79500.00
due
NOV 1
917;
7,500.00
due
NOV 1.
1916.
$7,600.00
due
«OT Y
1919,
$7,500.00
due
NGV 1
1920.
07,500.00
due
f ? �'l
1
1921.
p7, 500.00
due
=�'!
=�
1922.
$%500.00
due
�''
-�
1923.
$7, 500.00
due
NOV
1'
1924.
07,,500.00,
due
NOV
1
1925.
$7,500.00
due
NOV
1
1926.
$170500.00
due
" �
1
1927.
- - - -$-7 500.00=
-due
- -- N0V-
- .1
192861'-
928. -07,500.00
07,.500.00
due
I''ICV
1
1929.
07,500.00
due
`t{{-'`'
.1
1930.
$79500,0.0
due
NOV
1
1931.
$7,500.00
due
IOU
1 iz.
$7,500-00
due
i ;''1'�
`� !"z Ci - C3 U
1933.
'7,500.00
due
NOV
1 1
1934.
07 , 500.00
due
Cy �V.
1
1935.
7, 500.00,
due
`''r'�
1936.
$6,500.00
due
1937.
$7,500.00
due
NOV
1938.
$7,500.00
due
NOV
$7,500.00
due
�' SIV
X
1940.
$7, 500.00
due
_NOV
1
1941.
$7, 500.00
due-
NOV
1
1942.
X7,500.00
due
NOV
1
1943.
$7,500.00
due
�'`-M'
1944.
47,500.00
due
1945«
7,500.00
due
1946.
07,500.00
due
NOV 1�
1947.
$7,500.00
due
NOV 1
1948,
$7,600.00
due
NOV 1
1949,
$70500.00 -due
NOV
1
1950*,
NOV
1
$7,500.00
due
1951.
Q4'7,,500.00
due
NOV
1
1952.
$,7,,500.00
due
NOV
it :
1955.
$7,500.00
due
1954.
NOVN
11955.
7,500.00
due
07, 500.00
due ,
NOV
1
1956.
All bonds shall bear interest from date at the
rate of five (5) per cent per annum, payable semi -an _ lly
on �` and'``,
of eac h year, ecox ding to the tenor,of their interest coupons
to be attached to said bonds. The Mayor shall 'sagg said
bonds and they shall be countersigned by the City S e cretary,
regi-stered,by the City Treasurer and the corporate seal of
the City -of--Beaumont- -shall•-be--=impressed upon, each one -of--
them., The eo)upons shall be executed with the lithographed
signatures' of the Mrayor and the City .Secretary. Bonds, and
coupons shall be payable upon presentation and surrender at
the office of the `icr,°-�?a. ciz*� ��% •
in the City of New York, State of New York, or at the
office .of the City treasurer of the City of Beaumont, Texas,
at the option of the , holder .
-SECTION III -
The bonds and co..upons above provided upon
their face shall he substantially in words and s ignaturtes
as follows.- to -wit:
No. $10000.00
500.00
UNITED STATES OF,A2JEEICA,
STATE ' OF TEPA$
'CITY OF BEAUMONT
5% SCHOOL BONDS.
KNOW ALL MEN BY TEESE PRESENTS, that the City of
Beaumont in the State of Texas, hereby ac-lknowledges itself to
owe, and for vaT-ue 'received hereby promises to pay to bearer
One Thousand '($1000.00) Dollars,
Five Hundred ( 4500.00) Dollars,
in gold coin of the United States of America of the -
present standard of weight, and fineness on the. day
of
,19. , with interest on sand
sum
from
the
date
of .this
bond
at the rate
of five
(5%)
per
cent
per..
annum
payable
semi
annually on
the.
day of , and t hc:1 ,
clay
of , of each year in like gold coin,
as evidenced by and upon presentation of the annexed interest
coupons as they severally become due, both principal and
interest of this bond are payable at the office of the
in the.. City of
New York, State 'of New York, or at the: offiee'.of the City
Tr easuer of the -City of Beaumont at the option of the
holder .
This bond is one of a series of Three Hundred and
Twenty (320) bonds of -like tenor and date, except- as to
amount and maturkty, numbered from one to three hundred and
twenty inclusive. Two Hundred and. eighty of said'bonds being
in the sum.of, One Thousand (1,000.00) Dollars. -each, and forty'
of said bonds being in the sum of F�ve�Hiinde�aDAllars._u;
(0500.00) each, and aggregating in an.ount Three Hundred.
Thousand Dollars, issued by the City' of Beaumont, for the
purpose of making permanent city improvements, to -wit:
Complete permanent public school buildings in the city of
Beaumont, und�e;v and by virtue of the constitution and laws
of the State- of Texas, and the powerand authority granted
in an act of the Legislature of the State of Texas incorporating
the City of Beaumont, same being chapter 92.of the Spp-cial
Laws passed at the regular session of the 31st. Legislature
and in pursuance of an ord..inance passed by the -City Council
of the City of Beaumont, Texas, on the AOth day of September,
A.D.• 1916, and of record on, page 3,. Ordinances
of the City of Beaumont.
The date of this bond is I
and it is, hereby certified, recited and directed that
(_6L 6
all acts, conditions and things required to be done and pre-
cedent to and in the issuing of these bonls, have been
properly done., have happened and been performed in
regular and due for1n as required by lava, and that the total
indebtedness of this city, including the total indebtedness
contracted by the issuance of -these bonds, does not exceed
the constitutional or statAtory limitation.
And it is hereby recited, certified and declared
that the additional tag levied and made necessary to be
levbd in order to provide for the interest and principal
of this
issue of
bonds,
together
.with the
rate of
tax exis-
ting at
the time
of the
issuance
of these
bonds,
is within
the limitations of the con.titution and laws of. the State- of
Texas, and of the charter of the city of_ Beaumont.
IN WITITESS WHEREOF, the City of Beaumont has
caused this bond to be issued and signed by its 11ayor, ,
countersigned by its Secretary, registered by its City
Treasurer and the corporate
seal
of said.
City to) be •
affixed thereto this the
65;
day of
A.D. 1916.
Signed Mayor .
City of Beaumont. , .
Countersigned Secretary.
City of Beaumont.
(Seal) Registered
Treasurer City of Beaumont, Tex..
FILED ON THIS THE, x .x x x x .x x x
20 OF SEP - 1916
t J. G. SUTT0N
CITY SECRETARY
FORM OF COUPON.
Bylwov
�..,sc�s c�sq �sblf3+ UNITED ' STATES OF AMERICA.
STATE OF TEXAS
CITY OF BEAUMONT.
No. 425.00
12.50.
On the day of
t'hE ^ r
The. City of Beaumont, State of Texas, will pay to the bearer
at the office of the
in the City of New Yor State of New York-, the office
of the City Treasurer of the City of Beaumont, at the option
of the holder, twenty --five ( ''25.00) Dollars.
Twelve and 50100 (12.50) Dollars 1e
in gold coin of the United Stp- te's of America -of the present
. . standard of weight and fineness, being sig months' . interest
on bond issued fLnder an ordinance adopted the *Oth day of
September, A.D. 1916, for borrowing money for the purpose
of making permanent City Improvements to -wit: Complete
permanent public school buildings in the City of Beaumont.
Attest:
Idayor Oity of Beaumont.
City Secretary City of Beaumont,
-SECTION IV -
It is further ordained that the Mayor be authorized
and he is hereby directed, to take and have chargeof the above
described bonds pending their investigation by the Attorney
General of the State of Texas, and upon their, approval ani
.registration he shall proceed to sell same at not less
than their, face value and accrued interest at public or
private sale and the pr oceeds of such sale shall be de-
posited with the City Treasurer of the City of Beaumont,
and it is hereby made the duty of the Mayor to provide
that said bonds shall be delivered to the purchaser in the
City of Beaumont and payement shall also be made in the City
of Beaumont. The proceeds of said bonds shall be used
for ,the purpose of making permanent I1 9 city improvements
to -wit: Complete permanent public school buildings in the
City of.Beaumont, Texas.
-SECTION V -
It is further ordained by the City Coniacil that
for
the
purpose
of paying the interest
of said bonds
as
well
as the
various installments of
principal as the
same shall respectively mature, there ±±x is hereby levied
for the year 1916 and for each succeeding year thereafter,
as long as the same may be necessary to 'provicde for the interest
and annual installments o f pr inc ipa1- of said b onds, on all
property in the City of Beaumont, a straight,ad valorem
tax of seven cents, two mills and six tenths'($.0786).mills
on each ond- hundred dollars (6100.00) valuation of all
taxable: pr op er ty in t he C ity of Be aumont and s ame shall
be annually assessed and collected, and said tax of gbven
cents, two mills and sig tenths (440726) mills on the on
hundred dollars (p100..00) valuation out of a tag of
cents on'each one: hundred (11100.00) Dollaxs property valuation
levied to create the interest .and sinking fund to pay the.
outstanding bonded indebtedness of this city by this city
council on the lAh day of September , 1916, ( The ordinance
mating said levy being of record on page t/.2;`,Vol. 3.
Minutes of Ordinances of this City) is hereby appropriated and
set aside to pay the annual installments of principal of
said bor&s, and the interest thereon as they may mature
and said_.tax or so much thereof as may be necessary is;
hereby levied for each year hereafter- Rile said. bonds
or any number. tlL r eof are outstanding and the same shall
be annually assessed,- collected and applied to the purpose
named.
-'SECTION VI
WHEREAS, the fact that the'City isin urgent need. .
of, money to make permanent city improvements, to -wit:
Complete
permanent -public
school buildings in
the City
of
Beaumont,
in order
to take
care of the school-
children
of
sa.i d city in a px open manner , creates an emergency and an imper a -
tine public 'necessity', necessitating the suspension of the
rule. requiring ordinances to, be `read at: three .regulax ,meet-ings -
-Said ruLa is therefore hexeby suspended and this ordinance
shall go into full force and.,- effect from and after its lawful
passage and publication.
FILED ON THIS �1H V_. passed this the h day - bf September, A.D. 1916.
20 OF SEP r
J.- G. SUTTON App.roved this the day o f 'Septe ber 1916.
CITY SECRETARY
�,,,,arxnt city B8cretary mayor City 0 Be di mont.
Attest:
i S c-eetary City of Beaumont.
Beaumont, Texas, September 19th,1916.
Hon. Mayor & City Council,,
city-
Gentlemen:.
ity.
Gent1emen:.
We, your Board of Public works, to whom was
refera.!ed.the ordinance enti'tlad:
RAN- ORDINANCE
For the issuance of bonds in the sum of
Three Hundred Thousand Dollars, for the purpose
of making permanent c1ty improvements, to -wit:
Complete permanent-,,:)ublic school buildings
In the City of Beaumont, and de c lar ing an
Emergency. IT
Beg t® report -, that we have duly considered sahn and
recommend that. it be addDpted.
Respectfully submitted,
. 4a
-B o ax dOf ubl i c Works.
�3y �' ;�66t5tSF�
AD .,i
Beaumont, Texas, 9�19�16�
Hon.. Mayor & City Council,
City,.
Gentlemen:
We_, your Ordinance" Committee, to whom was
referred the..&ttached ordinance,.•.beg•to report -that
we Have " carefully examined same and recommend that it
be a'do'pted under a suspensi on.. of the rule req-i it ing"
ordinances to be read at three regular, meetings.
Respectfully submitted,
Ordinance. Committee.
fF
I ED
ON THIS THE
Fy: � 0 F'S E P -1916 .
J. G. SUTTON
C1TY SECRCThfti�
By 1- ¢t-
�. f
t a+:+::►tyt G`ty £ecretut7, - •