HomeMy WebLinkAboutORD 65-D545 -
co
AN QRDINMCE
RATIFYING AND CONFIRMING UONTRAOT UV SALE 'AND ►` -U-2kLFXWU! Thrlmo,
-1 OF BEAUX0
EXECUTED BY M -AND -CITY, MANAGER OF agE U11.0. NT -
FOR AhD, IN BEHALF OF SAID CITY FOR THE 2URCHASE Olf:ERO-PERTY iO BE
'K -MR .ISSUANCE, OF
USED BOR STREET WIPERIM -PURPOSES? AUT ORIZING.
PROMISSORY MOTES OF SAID 0325Y iff, ZAMMMT .0 F 1hE 20 CHASE PRICE:
LEVYING TAX TO PAY TIM IMMNST ON SAI NOTES: AND-EROVID9 A
SINKING' REM SUFFICIMIT 110 !?A)t 'TU YRIDUPAL Al MATURITY --AND
DECLARING AN MWGHN0Y0
WHEMS, heretofore, -to wit. on -the 1, Oth day 69 June,, 1923;
the City of Be4xv6ont, aqting-by.and through its Kayor and City
Me-mager, exeonted a contract of sale wherein and..Whereby the said
City- agreed. to piirchase from Kate Rogers.a certain tract of land
situated in the, City --of Beaumont dully. - desoribed --in said' oontractt
to be used for street imptoveiment purposes* for a eash considera—
tion of 48';5'00'00-. and
-
WHEREAS, on the�sy o'f,,.Augqst'. 1923, the parties ,to said
Qontradt entered.into a supplemental or amended,agreement whereby
it was 'a 'eek -betw'een said parties sh�
gr that ca consideration for'
said and:deUvery'ot
a I property should b1d. paid by the an
`:tromissory notes of, said.'-"- City, said--notes.to befull
aoodpted in
satisfaction and 'in lieu-. of said oash payment; " Said: o-ontraot of
sale anal supplement thereto being in: words and -figures as followst
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THE STATEOF TxwA y
COUNTY OF JEFFERSON
: THIS- AGRT' entered into- on this :the
k^Y
-fi� day of August,- 1923'~ by- mLd between Bate Rogers; party: off: tYie
-first part; and' the.: City -of Aoaumont; "'Party of. the . Second part;
as a SU'PPZEddE1�TT OR .MNT to _an '4RE, or . CONTRACT OF SADE",-
entered, into by ..and between said parties .on the 10th day of dune, ,
4923', to whioh -this is .,attached and made apart` hereof,::.V�ITNESSETH:
It " -is agreed- by `and between said parties that the
.consideration, .,or. purchase priceof . the _property desdribed in
said:Gontract. of Sale,:"lie paid by the -issuance and delivery to) the"'
.Vendor; in lieu..of, cash, nine certain :promissory: notes`; described
as follows: Numbered from, 1 _to 9 inclusive, " number 1 ' for the sum
of' p500:0a and -numbers 2 to 9, inclusive; for the "sum of. sl '000 '00,
eaah;. aggregating $89,"5.00000, dated Dime. 12,. 1923; due serial one
note each year -1 -to 9 year's after data, bearing. 5 interest
payable August 11, 1923, and semiannually thereafter -on the lot -day
of Januai�__aad 1st day of July of each year; said notes _to be
executed by the City of -Beaumont and -delivered to�said Vendor upon..
delivery .of pro
per and', executed Warranty Deed conveying
the. said property to sai .City
it is farther agreed that all other.terms.and conditions
of. said, .contract of -sale '"shall = be ' °and ,: remain in full force and
effect"
IN TESTIMONY --WHEREOP, witness` the hands of the parties
hereto this theday` of august, 19 23, ;
-FIRST-PARTY
CITY, OF BEAUMONT, SECOND " PARTY
By MAYOR
- . City :11anager
and
WHEREAS, ,said c ontr'act, and the supplement thereto
have been ,referted-,-to and approved by the. City Council- of said -
City and duly c oneurreUin by - 821 .the- commissioners . of said
City,, NOW, THEREFORE
BB -IT ORDAINED BY THE CITY COMMISSION OF TH9
CITY OF BEAUMONTO
SECTION That - said oontract'of sale' and the
supplement or amendment thereto'here'in referred to -and set -out"
-entered into -by and between the said .Kate Rogers and.. the. City of
Beaumont, be and the . ssm.el' is hereby ratified,, confirmed. and'.
• adopted as the act- and contract of -said city of Beaumonto, and -
said "contract shall be consummated in accordance with the terms..
thereof;
-.SECTION 11* the purchase --Priee, to be paid by ..said City.
of Beaumont for.saidproperty shall be evidenced. by the issuance
and 'delivery td.said kiat.e Rogers- or her - order - 'of promissory
notes of said City, described, as follows:—
Said notes shall be -.,numbered consecutively- from one ,(1)
to :nine. (9) inclusive' Note Number One (1) shall ,be, in the
d6nominati-on of -,@500'*OG,, notes numhers two (Z) to nine (9) inclusive;
shall be in'denomination'of One -Thousand Dollars -41 000J0,aeh
aggregatingiglitOThousand Five Hundred Dollars (8;500;00)
They shall be dated - the '12th day -of Jun e 1923; and shall
-become due and payable 'serially. as follows,:—
ROTE NUMBER PATE OF .MATURITY -AMOUNT
July 1 1924 #
1925
2 is
July 1000-00,
3. July Ii. 1926 1000000
4 July 1., 1927 A000000
.5 4aly, lt 19 28 1000,100
6
July 1,_1929 100000
.7 Julyly 1930 1000400
a 'July 1, 1931 1000i00
9 Jqly 1 19�32 1000,001
Said'- not a's .shall bear in'terest' at the"' rate 'of five and one.
t... Or
annum from date until interest
fourth -par con 4 Per
.-i. -paid .
payable -.Augn st,'.li 1923; and -semi4annually._ -thereafter ' (in the lot
day of ,January and st 'da' of July
of--'. each year; both principal
and .intiarest- payable'at the office of the - Director of Finanoe:-
Beaumont,, Texas,,,or at the Seaboard National Btmk New York; New York,
at the option ,of_:'the holder, upon. surrender of notes or proper coupons;
Said notes �ahal�: be .signed. by the Nl�49r;': countersigned by the
City kanager, ' attested by. the City Clerk; registered by .the Director.
of- Finance, . and the seal -of said Gity ,shall be impressed upon each
of said notes: Pao Sirlile,signatures of the luayor, G'ity Amager
and City Glerk may be lithographed upon the interest coupons;
SECTION 111; -`aid notes shall "be 'called "CITY OF BEAUMONT. STREET
IMPROVEMENT' PROMISSORY NOTES -SERIES F" --and shall be substantially in
the following form: '(Etcept Note .Nq One' -ft), thich shall be for
$500:OOj'
No . _'b; 000:00
- UNITID, ;STATES ' OF . AMERICA -
THE STATE'OF TEXAS
COUNTY. OF 'JEFFERSON:
CITY -OF BEAUMONT-•STREET IMPROVEMENT, PROMISSORY. NOTE .
SERIES F:
THE .CITY OF BEAUMONT; 6 muni ciapl co rpo rat ion' .in the County of
Jefferson 'and. State of 1egas; --for value received, hereby, promises to
pay to bearer on the lst.., dad of - July; -19- the - principal 'sum of
ONE THOUSAND DOLLARS ($1;000.00)
An lawftal money'o.f.,theLUnited States of -..America, together with interest.
thereon_ -from date . hereof until paid, at the rate of five and one fourth
per cent (51.-- o) per annum, int.ere'st payable on the lst day of august;
1923,4 semi-annually thereafter an the 1st .day: of January and let
day of , July of each year; .both principal '„and interest payableupon
presentation and .surrend_er_ of note or -proper coupon at .the' office of the
Director ' of Finance, Beaumont ; Texas; _ o -r at the . Seaboard- 'at iona1 Bank;
New fork-; . New York; at the option of the -holder'
:his note is one of'd series of nine -notes, numbered consecutively
from one (1) to nine X91"'inclusive; iotie, number 1 being for the sum
of X500:AO and..notes - numbers 2. =to ' 9',"tinclusive; in the denomination of
$1,000;00 each, :aggregating X8;500:00, authorized to be .issued in
"payment" ofthe purohase' price” f .property situated in .the City .of.
:Beaumont, lexas;: purchased, by 'said. Oiti-from_Late' :Rogers_ by contract..
..d ted June -10th -.1923 k�a'street im rove'ment u ' ores under and by
-of of thg constitution -aid. laws of the State of Texas; and. the
Charter of said. city, and in pursuance of an "rdinence passed by the
I
City Cpmmission of the Uity of Beaumont on the day of 1523;
whidh is recorded in Book page 2) et sej: of the kinutes .of
LODIlTIi s8 3on
The date -of this. note, . in Qonformity with said ordinance; is
.June 12; 1923:
IT IS HEREBY_.CERTIFIED AND RECITED that all acts,',conditions
and things required to be dome precedent to and in the isssuariQe 'of this
note, have been properly done and performed and have happened in
regular and due time, form and manner; as required by law; -and that
the full faith and - credit of - the pity of Iieaumont and the - special -
tax which has been -levied- for the payment . of t he 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 indebtednebs, of said
City, does not e - meed any charter, constitutional or statutory lim -'
tation:
Il6 SPECIALLY AGUM that --all past. due interest hereon shall
beam interest, at the - rate of Wo per annum; and if Ah -i s,no to or any . .
interest coupon hereto attached, is -not paid at maturity thereof;'
and same is placed in the . hands of. -an -attorney for collection; or if
ooll1deted .by legal process,- the_ City- of .Beaumont agrees to'pay 101"o,
additional on the . amount of principal and interest then due, as,
%ttorney: 8 fees.
IN TESTIMONY WH1REOF the City of Ueaumont, Texas, has caused =
its corporate seal to- be .hereto affixed, and this-. no to to -be signed
by its giayor,. -countersigned by its Oity !u anager, attested . by it's
City Clerk acid .registered by its director of -Finance, 4W Ot Via I$th
day of June.. 1923: _
mor, dity -of Beaumont, : -exas
Countersigned
y,manager, Uty of Z=mont, texas:
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" A
'BECTi ON ' lY Said... notes . shall . b e . executed 'and- delivered
to said luate '.aogers. or her. order, .upon deliver:: of -a Warranty 1)eed
properly..prepared . and executed, , conveying. to saia:`_Gityr the -property
described- in ,said contract of , sale; and ' ,-the motor, 0ity ivy nager
and Uity..Glerk are hereby authorized, ordered .and..direoted
upon delivery -and acceptance of said deed, to -execute said notes
have same registered "'by the yirec3tur of Binanc.e. and AeliverjW sai'd -
notes to the "sa d'!�ate .Rogers, or , h:er. order, in -.full satisfaction
of the- purchase price- of said 'property;
SECTION V: Be, it further ordained .that ,_for -.the purpose of
pairing interest_':on said:."cotes, .`and creating a sinking: fund .sufficient
to pay -the principal thereof "at maturity, there is hereby;.7."eviea for
the -current" year: and zor-.eachsuecedding year Chile"said .notes; or -
any of them are ''outstand.ing, an-, ad.valorem,tax -of three tenths of
one cent (3llEl )' on;each X100,00 "valuation o.f' :all, taxable property "
in t,116
vityL of Beaumont . and -said tax, 'or- so, much thereof: -.as shall
" be necessaryr shall be annually assessed and collected and. applied
to. the purposes named.,
SECTION_' U: .,:j&e - fact, that. the -bad condition of the .streets ..
anal the urgent need'of widening and improving same: to avoid' 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;.W orefore such, rule ,is hereby suspended
and this -ordinance shah take, effect -from and after the date of its.
-passage*
Faseed by `the affirmative vote" of all members of the 3ity
Commission of` the -pity of Beaumontthis the day of "t;
�__
19 23. '
Mayok
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