HomeMy WebLinkAboutORD 24-DAN ORDINANCE
Amehdirt 6hordijadhde--ehtitl6d_ "An Ordinance authorizing_
and dliecting"thO * exp6hditurb_ -of --not- -to '6x6ed&__ Tie'nty- thousand
Dollars ($20's000.00) --f6±, on -the wharves
and: docks -of'the --Cit-Y-bf-B-e-aintofit--in-iLeadridanae'with "plans -6fid
specifications contemplat6d'by the "Doak' -and Wharf- Commission'.,
and- to'be-hereafter -approved; 'bLiith6i4iz-in anddirectingtb6-
City MinaeP'to, �i6gotidtd a' loah -for of 'Tw6hty-Th&as6.Ad
D6116i's (Ms00000-) -from- the-'Fir§t'-National 'Bank- of, Beaixm6�Lt
Te1a6;authorizing -acid directing the -Mayor and-City-*Clierk to
execute the ._promissory- h6td of the_ Cjty-of B6aumont'- Sayable
on or before. one -year after 'its d6t6-eVidehcihg_ the-bblig6tlon
of the City to repay- the' sum so borrowed -from the said r First
National -Bank; "tog6ther-Vith six - per dent, 'Interest -from"date '-.---
until paido- appropriating so" much 6f,.'_the_-net '"Vent6s and ' income
from 'the municipal -*harve6 and 'dock6' the -T6*p-e3�andei- H&I:L-'
building and the Legal Depw.�tinent.,'foir� 6' period o-f_6n6_-y'ear__,
from and after September 15" 19-22" as- *ayb6 necessary ,to__j,5ay
t&id'd6bt"-and that the same shall hereafter be and ,read as
follows, to wit
An ordinance authbriz1hk and d13edtin t�e'ek
ponditure
of not -to exceed- Twi§nty"Thousand Dollaxt(920 006-007- fof- -
permanent ImproVemebts"bn the- wharVias' and -dodkt; -of The- City
of Bea bmbnt"in aedordghbe With--t)liina'and 'Eip6difidati6ns-
eonti9mplatbd_by:the Dock -&zid-Wharf-Cbn#ffii§:gidii.9 and to -be --
hereafter approVed., &,Uth6r-izing'&nd-dit6etihg-the-City Manager
to- negotiate ,* a, 10 at for -the total --sum- of Twenty ` Th6�84r_d
000"00);" Fi_v6 'Th6usand-D6jlgLr. thereof
-Dollars ($2&, 0 -0
_906�"00)
from the Fi3�8t-NAtional'_Bank _6f Be6umoiit' Texas-'71ve- Thousand
D6116rs ($5',_100'a**4'00) tberedf'from-the Texas,"Nat,tonal Bank'6f
Beaumont Texas" . Five Dollai-6 ($5'OOd'.-O0_)_ thi�,,t6of
1 10 P
from -the City fttionAl'B4hk of Beaumont—j'T6xas-Texas',- and -Five
Thousand Dollars 05`;000:00) thereof 'fr_0m.'the American
National Bank of Beaumon-t--Tekas
j authorizingand-directing
the Mayor - and' City- Clerk- to execute tbb_Piiomiss6ry rfote4of
The City -of '-B6atm6nV.,`payable -on or before ane "year- Faftbti its
date the dblig6tlotr� -6 ' -'tie -City- to'repay" tbe`
sumo
Ahe-City-tor0p#ytbe-tum"o borroWed-frobi_ the-staidbahkA''-to-gP'thoer'- with -six _"per
dent interest.'ft-6M-_dat6 until -paid; appropriating so' much9
of the -net revenues and -income fr6fn th6 municipal-'*barves
and docks-, the TemperAncb - Hall building- and- the - Legal
Departmeht' for 'a- period- of one' year from' and- dfter September
jV 2
agd,e asin-mq b
on&fq?e
-qa37 repealing all
re .to,, pay said debt
s tn*
BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF BEAUMONT:
9.
Section, 10,
Thatthe City Manager be.. -9 and he
is hereby authorized and
directed to expend not to exceed the sum of Twenty.Thousand
Dollars ($20'000.00) for permanent Improvements on the wharves
and docks of The City of Beaumont, such expenditure to be
made in accordance with and pursuant to plans and specifications
which shall hereafter be adopted., from time to time; by the
Dock & Wharf Commission, and approved by the City Commission*
Section 20
For the purpose of paying for and making the improvements
authorized and contemplated in Section I hereof, the City.
Manager is hereby authorized and directed to borrow the sum
of Twenty Thousand Dollars ($20'000.00); Five Thousand Dollars
($5J000-:00) thereof from the First National Bank of Beaumont;
Texas, Five Thousand Dollars ($5F'000. 9000) thereof from the
Texas National Bank of Beaumont-., Texas Five Thousand Dollars
$5',000400 thereof from the City National Bank of Beaumont', Texasf
and Five Thousand Dollars 5.9000"O00) thereof from theAmerican
National Bank of Beaumont'. Texas., to be used solelyand only -
for the purposes authorized and contemplated in Section I hereof;
such loans to be for one -year., and to bear interest at the rate
of six per cent per annum and to be repaid from the funds
hereinafter. appropriated --for such -purposes --and the Mayor and
City Clerk are hereby authorized and -directed -to S ex - ecute
and deliver to the said banks of Beaumont Texas, the
promissory notes of The City of Beaumont`; in the principal
sum of Five Thousand Dollars ($5.,000',,!'00) to -each -of said
banks, each of said notes to be dated September 15,.1922;
payable to the order of the said.banks. respectiveI7.,-on or
before one year after their date.,' - bearing
..interest at the - rate
of six per cent pear annum from their dates until paid�, and .
containing the usual clause .of.ten per cent attorney's fees.
Section 30
For the purpose of paying the indebtedness authorized
in Sections 1 and 2 hereof., there is hereby appropriated so
much of the unappropriated income from the following
departments as may be necessary to Pay such obligations when
due, to wit:40
The income and revenues from the municipal wharves
and docks for a period of one year from and after September
15`, 1922', in excess of such part of said revenue and income
as may be necessary for the ordinary current operation.of
such wharves and docks, and -no expenditures from the revenues
derived from the operation of the wharves and docks other
than for ordinary current operation shall be made until said
debt, with interest`, is fully paid and discharged; the
income from the Temperance Hall building not heretofore
appropriated;'the net revenues from the Legal Department
not heretofore appropriated, or so much of said net revenues
from said sources during a period of one year from and after
September 15, 1922, as may be necessary to pay such debts
when due; provided that if and when the $500;000.00 of
bonds voted on the 21st day of December, 1920; for wharf and
dock purposes are sold$ the said debt or any part thereof
4
remaining unpaid may be paid therefrom.
Section 4A
All ordinances and parts of ordinances in conflict
_ 5
herewith are hereby expressly repealled:
This ordinance shall take effect from and after the
date of its passage. _
Passed by the affirmative vote of all members of the
City Commission, this the 19th day of September, A.D. 1922:
City o aumon --