Loading...
HomeMy WebLinkAboutORD 63-D3 AN ORDINANCE RATIFYING AND CONFIIMING CONTRAUT ul' bALE A14.0 6UrYLEMMT 'HERETO EXECUTED BY THE UVOR OF THE CITY OF BBAMTONT POR AND iN 13EHAL OF RAID CITY IPOR THE VURCHASE OF PROPERTY TO BE USED OR STREET IMPROVEMMIT PURPOSES; AU`1'HORIZING THE ISSUANCE OF PROMISSORY NOTES OF SAID UITY 1N PAIIAENT 01' TtiE rURCHASE PRICE, ISVYING A GAX TO PAY THE INTEREST OiT LM PH@VIDE SUI'F'ICIENT .SINKING !UND r TO PAY THE PRINCIPAL OF SAID NOTES AT 'MATURITY: AND DECLARING AN MMGENCY: WHEREAS, heretofore, to -wit on the 10th day of d'une, 1923, the City of Beaumont, acting by and through itsi"ayor and pity manager, duly authorized so to do, executed a contract of sale wherein and whereby said vity agreed to purchase from Josephine H: -'eckie certain property situated in the vity of-'eaumont, fully described in said contract, to be used for street widening, and street improvement purposes, for a cash consideration of X20,000.00; and WHEREAS, on the, day of August, 1923, the parties to said contract entered intoa supplemental,or amended agreement, whereby it was agreed between said parties that the consideration. for said property should be paid by the issuance and delivery of promissory notes of said City, in lieu of the cash payment; said Contract of Sale and Supplemental Agreement boing in words and figures as follows: D -Ar -C. 11 MO RMMI-A 011 CONTRACT OF SALE BY JUID BETe'i2M JOSEPH:iMS HGLT011 MOM, ACTING THE SYATE OF TEXAS I 9''' BY 9A D TIMOUGH MIR AG TJT, 47. L. PO_aR01,I1, FI�%3T PARTY?' X-0 TH2 CITE' 02 B;AUILIOlaT, COUITTY OP JUNUTERSON., SECOND P 421 TY, WITNESSETH: Virst Party a€;roes to sell 'to Second karty, and Socond Party agrees to buy froze First Pexty, the hereinafter doscribed, property for t?)e cash purchaoe price of.$209000.00, such property being descrzbod as follows. to wit: All that certain tract of land out os the 1q0a,h iovis survey of Beaumont, Jefferson County, Texan, being that tract of land conveyod by A. t . Goodhue and Ma.r'J,6et Goodhao to Jo'lm B, Goodhue and Jose-ohkno Goodh.4ue by deed, dated December 20, 189' and _on record. in. Vol, 80t page 51'C , of the Deed. Roc3ordo of Jefferson County, Texas, and d000ribed. as; Beginning at tho southwost comer o." that certain tract of laud convoyed by . A.D, Kent .to John 0. Hilikin; thence in a northerly direction. Tith the west line of said Uilikin land, 1.50 fact to a cancer, thence crest at a right angle to first line Wr feet tc a corner on west Une of this tract; thence south on said west line 150 feet to north line of Liberty Avenuo in the City of Beaumont, to a corner; thence east o1i the north line of said Avenue 72 Poet to the plvco of b aginning e Firs; Party agrees to furnish Second Party completo Abstract of Title to said property, after e hicr Second Party ohall haifo sufficient reaoona bla time for the examination tryereof. Pirst Party agrees to :correct any -defects or objections to title within a reasonable tiiae aft -or notice thereof from Socond Party, and to exocuto a good and s-uffici e t General Warrm- ty Doed upon aaceptanco of such t:i.tlo by Second Party.. IN TEaTMOIJY tj]HEt20F, witness tho hands of the parties hereto this 10th day of Jime, A.D, -1923* JOSEPHINE H. LECKIE (Signed), B -V, -.Wt &t_-V.4NDROM, .A.GT.__ - - — TT T ;'A"eTY CITY OF BEAT25ONT SECOTdD TARTY By RSA _ ,Stpinhager 123 LIAYO , , THE STATE UP TEXAS GOUIQ`ey OF JEFFERSON SUPPLEMENTING and 1-A t' DING the agreement entered into by and between Josephine H. yeckie, acting by and through her agent',- Wel. gent,W.Z. rondrom, party of the first part, and the Gity of Jeaumont, party of the second part, on the 10th day of June, 1923 wherein and whereby the party of the fftst part agreed to sell and the party of the second part agreed to purchase certain property described in said agreement, to which reference is hereby made, 1i' 16 HEREBY AGREMu by and between said parties that the purchase priee of V20,000600, for said property, shall be evidenced by the issuance and delivery of Promissory Notes of said Oity, in lieu of cash; said notes to be in denomination of one Thousand Dollars (01;000.00 each, dated dune 12, 1923t' bearing 56 interest per annum, due serially one note on the 1st day of �ulr each year beginning duly 1, 1924, it i, further agreed by .and between said parties that this'supplement or amendment shall be attached to and made a part of said origin agreement, dated dune lot 19230 MCu'rED this the day of august, 19231 Ftrst darty THE UITY OP uEAUiAONT Second arty :, kayo r Gity Lianager :.. W -z �1iEHEAS, said contract, and the supplement thereto, Me been referred to and approved by the City Council of said City, and was duiy concurred in by the City bi-anager and all the commissioners of said city; ROS`+, TEYLHi"ORE BE 1.1 ORDAIMM BY ThE CITY COI►2MISSION OF THE CITY OF BEAUMOB l : SECTION 1: hat said contract of sale and the supplement, or amendment thereto, herein referred to and set out, entered into by and between Josephine Aj Leckie and the Uity of Beaumont, is hereby ratified, confirmed and adopted as the act and contract of the said Oity of 1�eeumont' and said contract of the said Oity of Deaumont, and said contract shall be consummated in accordance with the terms thereof, SECTION 114 The purchase price to be paid by said City for said property shall be evidenced by the issuance and delivery to Vendor, or her order, of promissory notes of said City, described as follows Said notes shall be numbered from one (1) to 'twenty (20) inclusive, shall be of the denomination of One1housand Dollars ($1000.600) each, aggregating Tvienty Thousand Dollars (§209000:00): They shall be dated the 12th day of dune, 1923, and shall become due and payable serially, as follows: NOTE NUMBER DATE Ob, hAlUR11 Y AMO U111T . Ono (1) Two duly 1, 1924 01;000.00 �,hZee C3) a duly duly 1, 1, 1925 19~2.6 1;000:00 1;400.00 Four (4)_ give i5) duly 1, 1927 1;000:00 Six (6)- duly duly 1, 1, 1928 1929 1;000:00 A000.00 Fight (�') Eight (8j July 1, 1930 1�;000.00 Nine (91_ eluly duly 1, 1, 1931 1932 1,000.00 1;000:00 � n ( Eleven G 11) duly' July 1, 1, 1933 1934 1 000.00 1;000.00 twelve (12) Thirteen (13) July July 1, 1, 1935 1936 1,000000 1;000.00 Fourteen (14) duly 1, 1937 4`000.00 Fifteen (15 July 1': 1938 Sizteen (16 July 1, 1939 Seventeen (17j July 11.1940 Eighteen (18)- July 1, 1941 Nineteen (19 ) July 1, 1942 Twenty (20) - July 1, 1943 Said notes shall bear interest at F , X00:00 1;000.00 1;000.00 1000;00 l,, 000.00 1;000.00 the rate of five end one - fourths (56) per cent per annum from their date until paid; interest payable on the let day of august, 1923; and semi-annually thereafter on the let day of July and 1st day of January of each year; both principal and interest payable at -the office of the Director of Finance, Beaumont, Texas, or at the Seaboard National Bank, , 1iew Fork, liew nark, at the option of the holder, upon surrender of notes or proper interest coupons; Said notes shall be signed by the Mayor, countersigned by the City 1�anager; attested by the City Clerk, registered by the Director of Finance, and the seal of said City shall be impressed upon each of said notes. Fac simile signatures of the Mayor; City manager and City Clerk may be lithographed upon the interest coupons. SECTION 111,; The said notes shall be called "CITY OF BEAUMONT STREET IMPROVEMENT PROMISSORY NOTES, SERIES B" and shall be substantially in the following form: No:�..._._,_ $101000. 00 UNITED STATES OF AMERICA THE STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BEAUMONT STREET IMPROVEI+MT PROMISSORY NOTE SERIES B. -------------- . THE CITY OF BEAUMONT, a municipal ocrporation in the Gounty of Jefferson and State of Texas, for value received, hereby promises to pay to BEARER on the lot day of July, 19 ! the principal -sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful money of the United States of America, together with interest thereon from date hereof until paid, at the rate of five and one fourth per cent (541%) per annum; interest payable on the let day of August-, 1923; and semi—annually thereafter on the let day. of January and 'let day of July of each year; both principal and interest payable upon presentation and surrender of note.or proper coupon at the office of the Director of Finance, Beaumont; Texas, or at the,Seaboard National Bank, New York, New York; at the option of the holder; This note is one of a series of twenty (20) notes, numbered conseeut-ivel.y'from one (1) to twenty (20) inclusive, of the denomination of One Thousand ($14000:00) each, aggregating Twenty Thousand Dollars (20;000000), authorized,to be issued in payment of the purchase price of property -situated in the City of Beaumont, purchased by said City from Josephine H. Leckie by contract of sale; dated June 10, 1923, for street widening and street improvement purposes, under -and by virtue of the Constitution and laws -of the State of Texas, and the charter of said city, and in pursuance of an ordinance, passed by the City Commission of said City of -Beaumont on the day of 1923, which is recorded in Book , pages et-seq. of the Minutes of said Commission. The date of this note, in conformity with said ordinance, is June 129 1923. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required to be done precedent to and in the issuance of this note have been properly done and performed; and haVO happened in regular and due time, form and manner, as required by law-, and that the full faith and credit of the City of Beaumont, and the special tag which has been levied for the payment of principal and interest of this series of notes, -are hereby irrevocably pledged for the punctual payment of the principal and interest of this note; and that this series of notes, together with all other indebtedness of said City, does not exceed any charter, constitutional or statutory limitation. IT Is SPECIFICALLY AGREED that all past due interest hereon shall bear interest at the rate of 5gffo per annum; and if this note or any interest coupon hereon attached, is not paid at maturity thereof -and same is placed in the hands of an attorney for collection, r • `i or collected by legal process, the City of Beaumont agrees to pay 1016 additional on the amount. of principal and interest- then due, as attorney's fees. IN TESTIMONY WHEREOF the City of Beaumont, Texas, has caused its co rpor ate seal to be hereto affixed, and this note to be signed by its Mayor, countersigned by its City DJtanager, attested by its City Clerk, and registered by its Ilig Mir lnnmr Director of Finance, as of the 12th day of June, 1923, ayor, City of beaumont, Texasi Countersigned; City Xanager, (My of Beaumont, exas. Attest: i y CTeFE, aity.olf eaumont, Texas: Registered: irec or ol PlMoe, i y of Beaumont, Texas. The form'of interest coupons attached to each of said Notes shall be substantially in the following form (Except coupon number. 1, which shall be for 1 month and iq days interest)(- And coupon number 20 which shall be for 5 months' interest): No.2j.25 On the lst day of , k9 THE CITY OF BEAUMONT, in Jefferson County, Texas,'will pay to BEARER at the office of the Director of ! finance, Beaumont; Texas, or at the Seaboard National Bank, New York, New York, at the option of the holder, Twenty six and 25,100 dollars ($26125) being six months' interest on CITY OF BEAUMONT STREET IMPROVELEMiT NOTE, SERIES B; No. dated June 12, 1923, to which this coupon is attached and is a part thereof. ATTEST: City Clerk Countersigned: City anager -Mayor s�l e �x- I$E FOLLOWING ENDORSMAENT shall be printed on the pack of - each of said notes; THIS IS TO CERTIFY THAT I HAVE received the within Not e and attached coupons fvvm the City of Beaumont, 'texas; and all the notes of said Series B, in full satisfaction of the purchase price due me by said City for property sold by me to said City under and by virtue of a contract of sale dated June 10, 1923: SECTION IV: Said notes shall be executed and delivered to said Josephine Leckie; or her order, upon the delivery of a Warranty Deed, properly prepared and executed, conveying to said City the property described in said contract of sale; and the Mayor, City Manager, City Clerk of said City are hereby authorized; ordered and direeted,.upon delivery and acceptance of said deed, to execute said notes, have same registered by the Director of Finance, and deliver said notes to the said Josephine H. Leckie, or her order, in full satisfaction of the purchase price of said property. SECTION V. BE IT FURTHER ORDAINED that for the purpose of paying the interest on said promissory notes, and creating a sinking fund sufficient to pay the principal thereof at maturity, there is hereby levied for the current year, and for each succeeding year while said notes, or any of them are outstanding, an ad valorem tax of one half of one cent (2} on each $100:00 valuation of all taxable property in the Gity of 1'eaumont, and said tax, or so much as shall be necessary, shall be annually assessed and collected and applied to the purposes named. SECTION VI; The fact that the bad condition of the streets, end the urgent need of widening and improving the same, to avoid the obstruction and congestion of traffic thereon, and to promote public safety, creates an imperative public necessity requiring the suspension of the rule providing that ordinances shall be read on three separate days before final passage; wherefore such rule is hereby suspended, and this ordinance shall take effect from and after the date of its passage; gassed by affirmative vote of all members of the / City commission of the Oity of Beaumont, on this the 4 `day of1923. . Mayor THE STATE OF TEXAS ) COUNTY OF JEFFERSON I, Den C. Leikron, City Clerk of the Oity of Beaumont, Texas, do hereby certify that the foregoing is a true and correct copy of an ordinance passed on the day of August; 19239, by the affirmative vote of all members of the Uommission of the City of -eaumont, as the same appears of record in. Book pages et seq. of the iiinutes of said Commission. GIVEN UNDER Illy HAND, AMID SEAL OF OFFICE, this the day of August, 1923: Gity u er , Beaumont, 'texas.