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HomeMy WebLinkAboutORD 59-Dr' THE STATE OF TEXAS ) ) COUNTY OF JEFFMSON ) CITY OF BEAUMONT ) adAp On this the day of , 19239 the City aom- mission of the City of Beaumont, Texas, met in Session at the City Hall, and among other business, the following proceedings were hada entitleds Commissioner offered an ordinance KAN ORD INA NCP! PROVIDING FOR THE ISSMME OF THE CITY OY BEAUMONT REFUNDING WARRANTS IN TSE AMOUNT OF F IFTENN THOUSAND (15,000.00) DOLLARS, BEARING INTEREST AT TSE RATE OF SIX. MR CENT: (6%) PER ANUM, PAYABLE SEMI-AMWALLY, FCR THE PURPOSE OF REFUNDING A LIQ AMOMM OF VALID APED OUTSTANDING NOTES OF SAID CITY, DATED THE 6TH DAY OF ims A. D. 192?, MADE PAYABLE TO TBE NYE ODORIESS ORMWORY OONIPANY FOR THE PURCHASE OF CRMTORIES IN AND FOR THE CITY OF BEAUMONT9 AND PROVIDING FaR THE LEVY OF THE TAX TO PAY THE PRINCIPAL AND INTEREST OF SAID WARRANTS AT MATURITY THEREOF, AND DECLARING AN EN�ENCY.'* Commissioner moved that the rules be suspended and the Ordinance be placed on first reading. She motion was seconded by Commi s e lone r and the motion carr ied. Commissioner moved that the ordinance be read and pass first reading. The motion was seconded by gom- missioner and the ordinance passed first reading. Commi s s toner moved that the ordinance be placed on second reeding. Dhe motion was seconded. by Com - miss ioner and the ordinance was placed on second reading. Comnissioner moved that the ordi- nance pass second reading. The motion was seconded by Commissioner and the motion carried.. �� H i Commis sioner moved that the o rd inane be finally passed. The motion vas seconded by Commissioner and the motion carried. The ordinance is as follows: AN ORDINAN ($ PROVIDING FOR TBE ISSUANCE CF THE CITY OF IMAUMONT REFUNDING WASRANTS IN THE AMOUNT OF FIFTEEN THOUSAND (0159000.00) DOLLARS, BEMING INTEREST AT THE RATE OF SIX PER =1 (6%) PER ANNUM, PAYABLE SERI-AIMUA LLY , FM THE FU.RPO 0 OF REFUNDING A 1. AMOUT OF VALID AND OUTSTANDING NOTES OF SAID CITY, DATED.THE 6TH DAY OF JUNE, A- .D.. 19221 MADE PAYABLE TO THE NYE ODCiRIE,SS CREMATORY COMPANY FOR THE PURCHASE OF CREMATORIES . IIS' AND FOR THE CITY OF BEA MIONT , AND PROVIDING FOR THE IEVY OF THE TAR TO PAY THE PRINCIPAL AIM INTEREST OF. SAID FIAXtRUi'S AT YATIRITY THEREOF, ,AND DECIARIE� AN M=GENCY MERFAS, on the 6th day of June, A. D. 19229 the Board of .Commissioners of .the City of Beaumont caused to be issued to the Nye Odorless Crematory Company, a corporation duly organized and doing business under the laws of the State of Georgia, with its principal . office in the city of Macon in said State, notes, being three in number In the denomination of Five Thousand ($$000.00) Dollars each, and begr- Ing interest at the rate of six per cent (6'%) per annum, the interest payable semi-annually as it accrues according to the interest coupons attached thereto, and providing for ten per cent (10%).1penalty in case of default in payment of,the note and amy interest when due anc the same is placed in the hates of an attorney for collection; and SEAS, said indebtedness was legally created in accord- ance with the powers granted by the City Charter in Section 10 thereof to the City Coam i s s ion; and. WM�MS, the City Commission deems it wise and -to the best interest of the said -City to refund said,indebtedness, extending maturity date thereof and providiiag for the issuame of warrants covering said indebtedness in the denomination of One Thousand ($1000.00) Dollars, said warrants to be numbered consecutively from one to fifteen (1 to 15), the interest rate and other provisions to remain the same; and WaWAS, the holders of said notes are willing to exchange the notes above described and deliver the same to the City, and to accept in lieu of said notes, the Warrants of the City of Beaumont, dated JaW-e 6th , 1923, and numbered from one to fifteen (1 to 151 inclus- ive, in the amount of Fifteen Thousand. ($15,000.00) Dollars, TB@REFORE, Sg IT ORDAINED BY THEITy= C3�IDdISI.ON OF THE CITY OF BEAUMONT, TEXASs That the City of Beaumont, acting by and through its Myor, City Clerk and City Manager, be and they are hereby authorised and empo%ted to issue, execute and deliver to the Brown -Crammer Invest- ment Company in lieu of said notes now ovaied and held by them, as herein before described., a series of "CITY OF BEAUMONT REFQIITDING WARBANTS"s to be dated, to bear interest and to mature as otherwise hereinafter de- scribed. Said Refunding Warrants shall be dated k2ki q`,192 3, and shall be numbered from one to fifteen (1 to 15) inclusive, in the denomination of One Thousand ($1,000.00) Dollars each, and aggregate Fifteen Thousand (15,000.00) Dollars. Said WZrrants shall be signed by the Mayor, attested,by the city Clerk, and countersigned by the City Manager, and the seal of the City shall be impressed upon each of them, with the facsimile sig- natures of the Mayor and the City Clerk lithograp*ed on the interest coupons attached to each of said Warrants. Said Refunding Warrants shall mature and become due and Payable as followss WARBANT _N MMIS DATE OF MATURITY AMOUNT 1 June 69 1924, of jp1,000.00 2 and 3 June 6, 1925, of '1;000.00 each 4 and 5 June 69 19269 of ;19000*00 each 6 and 7 June 69 19271P of 01;000.00 each 8 and 9 June 6, 1928, of �p1;000.00 each 10 and 11 June 69 19299 of x'1;000.00 each 12 and 13 June 6, 19309 of q¢9.,'000.00 each 14 and 15 June 6, 1931, of X19000.06 each Said Ref=ding Warrants shall bear interest from date thereof at the rate of six per cent (6%) per annum payable semi-annually on the 6th day of Ui6neMbguy, A. D. 1928., and semi-annually thereafter on the 6t7a day of June and Deg tuber of each year, aamd both the principal and interest of said Warrants shall be payable at the Natio-nal, (! i tv Bank of New York City, N. Y. Said Warrants shall be in substantially the following form, varying only to suit the maturities of said Warrantsa No. $1000.00 UNITED STATES OF AIlERICA STATE OF TEXAS CITY OF BEAUMONT REFMDING VAMUNT, SESIE; 1923. The City of Beaumont, in the State of Texas, ac�lonowledges itself justly indebted, and hereby promises to pay on the �� day of at the i- ; nnq C i t -1T Bank, New York City v N. Y., the sum of ONE THOUSAND DOLLARS ($1,000.00) in laavful money of the United States of America, with interest thereon from date hereof, at the rate of (6°%) six per cent per annum, Interest payable semi-annually on the 6th day of D60,*, , and semi - of annually thereafter on the 6th day of p and D,ee•�em�bemf/ each year, upon presentation and surrender of proper coupon; and the���`eof said City is hereby authorized, oxdered and directed to pay to bearer, said principal sura with interest thereon evidenced by coupons hereto annexed, with the moneys created for said purpose, principal and interest payable at the bank above named. In event the sum of money relresented by this warrant and axmexed coupons shall not be paid at maturity, the same s 11 thereafter bosr interest at the rate of six per cent (6%) per annum, until fully paid, and in the event of such default and it becomes necess- ary for the holder hereof, or the holders of amy coupons attached hereto, to place claim therefor in the hands of an attorney for collection or to institute suit hereon, the City of Beaumont promises to pay to the holder hereof an additional ten per cent (10%) attorney fees. r Said Ref=ding Warrants shall bear interest from date thereof at the rate of six per cent (6%) per annum payable semi-annually on the 6th day of Ui6neMbguy, A. D. 1928., and semi-annually thereafter on the 6t7a day of June and Deg tuber of each year, aamd both the principal and interest of said Warrants shall be payable at the Natio-nal, (! i tv Bank of New York City, N. Y. Said Warrants shall be in substantially the following form, varying only to suit the maturities of said Warrantsa No. $1000.00 UNITED STATES OF AIlERICA STATE OF TEXAS CITY OF BEAUMONT REFMDING VAMUNT, SESIE; 1923. The City of Beaumont, in the State of Texas, ac�lonowledges itself justly indebted, and hereby promises to pay on the �� day of at the i- ; nnq C i t -1T Bank, New York City v N. Y., the sum of ONE THOUSAND DOLLARS ($1,000.00) in laavful money of the United States of America, with interest thereon from date hereof, at the rate of (6°%) six per cent per annum, Interest payable semi-annually on the 6th day of D60,*, , and semi - of annually thereafter on the 6th day of p and D,ee•�em�bemf/ each year, upon presentation and surrender of proper coupon; and the���`eof said City is hereby authorized, oxdered and directed to pay to bearer, said principal sura with interest thereon evidenced by coupons hereto annexed, with the moneys created for said purpose, principal and interest payable at the bank above named. In event the sum of money relresented by this warrant and axmexed coupons shall not be paid at maturity, the same s 11 thereafter bosr interest at the rate of six per cent (6%) per annum, until fully paid, and in the event of such default and it becomes necess- ary for the holder hereof, or the holders of amy coupons attached hereto, to place claim therefor in the hands of an attorney for collection or to institute suit hereon, the City of Beaumont promises to pay to the holder hereof an additional ten per cent (10%) attorney fees. TEIS WARRANT is one of a series of varrant s of like date and tenor except as to maturity, n mbered from one to fifteen (1 to 15) inclusive, in the denomination of tae Thousand ($1,000.00) Dollars each, aggregating Fifteen Thousand (15,000.00) Dollars, issued for the purpose of refunding and in lieu of_a like amount of indebtedness of the City of Beaumont legally incurred in the purchase and construction of crematories under and' by virtue of the Constitution and laws of the State of Texas, and pursuant to an ordinance passed by the.Board of Commissioners of the City of Beaumont, on the / day of A5,1923, recorded in Book page of the Minutes of the said Board of Commissioners. TBE DATE of this warrent, in conformity with the ordinance above mentioned, is a 6: 1923. AND IT IS EMEBY CERTIFIED AND RECITED that all acts, conditions and things required to be done precedent to and in the issuance of this mrrant, have been prcper]y done, have happened and been performed in regular and due time as required by law, aid that'the total indebted- ness of said City, including this errant, does not exceed any consti- tutional or statutory limitation; that provision has been made for the levy of taxes annually for the payment of the principal and interest of this grant as they respectively mature. IN TESTIMONY WHMEOF, the Board of Comm. asioner s of the City of Beaumont, Texas, has caused the seal of the said city to be% hereto affixed and this warrant to be signed by the Mayor, attested by the City Clerk, and countersigned and registered by the City Ymnsger. Attests Mayor, City of Beaumont, Texas, City Clerk, Beaumont, Texas. Regi st ered this the clay of July A. D. 19 23. City Manager, Beaumont, Teas. THE FCX OF. THE INTEREST COUPON at t ached hereto shall be substantially as follovstt No.,ON THM __—,DAY OF � The rer of the City of Beaumont, Texas, will pay the bearer at the office of the - _ . Na t i 0-n € l Q it;z_ Bank, Neer York City, N. Y., the seam of Dollars ( j being months interest due that day on the City Of Beaumont Refunding M4rrant , No. ~ dated -,�gday of MW.19 23, to which this coupon is attached and is a part thereaf. myor City Clerk. BE IT FURTHER OMAnM that for the purpose of paying the principa} and interest of said wiarrants, as the same matures thence shall be annually levied on each One Hundred Dollars (0100.00) valuation of taxable property in the City of Beaumont, Teras, a. tax sufficient for sAid, purpose of the payment of said principal and interest. For the year, 1923, there is hereby appropriated to the fund to be used for the said purpose, all the moneys now in the fund which oras created for the purpose of paying the principal and interest on the said Fifteem.Thousand ($35,000.00) Dollars Nye Odorless Crematory Votes and all taxes levied for the purpose herein named v&en collected shall be appropriated to this ftmd and applied for the purpose of paying the interest maturing on the said City of Beaumont Refunding Vbcrants, Series 1923, and that for the year of 1924, and for each. succeeding year vhile amy of said warrants or any part thereof are outstand- 0 Ing and unpaid, and at the time the other City taxes are levied, in each of said years, there shall be computed and ascertained what rate of tar based upon the latest approved tar rolls of said V�" will be' necessary, requisite, and aufficient,to fully make, raise, and produce, in each of said years the amount of principal anal interest maturing in said year, and for each of said years, there is hereby ordered to be levied, executed and created out of said tax, a tax at such rate as shall be necessary, ami all of said taxes so created shall be placed in a special fund to be designated "CITY OF BRAUMONT, TEXAS, REFUNDING WARRANP FUND, SERIES 1923tt9 for the payment of the principal and interest of said warrants and for no other purpose. And the Board of Commissioners of the City of Beaumont shall each year in making its annual budget, include therein the amount of principal and interest of said varrants maturing in respective years* The fact that the'said notes herein designated are being held in readiness for refunding and the further fact that it is to the Interest of the City of Beaumont to issue its obligations so that they can be more conveniently met by the City, create an emergency and makes it an imperative public necessity that the rules -requiring that ordinances be read on three separate occasions are hereby suspended and this ordinance shall take effect and be in force immediately after its passage and appro- val and is -so ordl ined e Dns seal this the 'day o f Eur, A. D. 19 23.. Approved thi s the 74day of , A.. D. 19 X. A Attests City Clerk, Beaumont, Texas* Countersigned t City Ygnsger, Beaumont, Texas. Myor, Ci L� 1-4 STATE OF TEXAS CO= OF JEFFERSON City Sectetary o f the City of BeQvmont,,,.2-exas,, do hereby certify that the above and foregoing is a true and correct copy of an oid. inarce passed by the City Commission of the City of Beaumont, Texas,, on the day of July., 1923. All members of' said Commission being present amil approved by the Mayor on the day of July,, 1923, and of record on page et ,sage, Book of the Minutes of said City Commission, VITNESS zW hand and seal of said City,, this the day Of 1923. City Secretary,, City of Beaumont,,Tesas, (MAL) THE STATE OF TEXAS j , CouNTY QF ispaRsox )� CITY OF BEAUMONT f On thi s the day of. s 1923,, the City com•- mssion,of the City of Beaumont, Texas, met in Session at City Bad. and among other b sinew, the following prooewi kgs were ha.dt entitleds Comriinsianar offered an ordinance "AN ORDINANCE FROVIDING FOR THE; IMISNDE OF THE 03TY OF BEAUMBT RR WING VARRAIUS IN TSE AMjTid1 OF F IFT= THOWAM 4 0000.00) DOILAR S, BW ING IRT&MT AT T10 RAT?:_ .OF - Si, MR Qw (6%) PM A2JMETO P.AY.AB� SM11,-AVVWUY# FOR TIM PUF TOM OF REFMIDING A DISE AI2OUM OF VALM) AND OUTSTAND W NOTES OP SAID CITY, DATED THE 6TH DAY OF imp A. I!. 19220 MOB PAYABLE TO TA? RM ODORLESS CRk2WORY ODMANY FCR THE PURCHASE OB CREMORMS IN ATID FOR THE C ITY OF MAMONT , AND PROVIDI M' F(E THE MVY OF THE TAX TO' PAY TIM PRINCIPAL AND INTMM, T OF SAID VMMNTS AT MURITY THERHOF, ARD DECLARING AN �GLNCY.'► Cw�nissionar _ moved that the rules be suspen3ed and the Ordinance be placed on first reading; gis motion seconded by Commissioner and the motion Gommtesaner ,moved. that the ordinance be read, and pass first reading. Tie motion was seconded by gom- znissioner and the ordinance passed Hirst reading. (Sommi s s loner moves. that the ardinanca be placed an second rear3irg.. She lotion was, seconded by' Com- 's. Aids 107aer and the ord naroe v f', pl.aaed on awaonii - 0O.Mlesioner mirved that the ordi- nance pass second reading. The motion vw seconded by Co=lssion©r and the motion harried.