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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 tAv7l%--�,,-ro4noi� l v p ,Ct. n, � (12 limll Z'a�`t s-, ltwaot QC, lca!d. dolitqod- b,-�r Pa Zcmlalo :'.Zoz��vv to Eato 'Wgcrno 'ny Dom 67,1to", Mwaubl-�.r- Im- room•�dqd i-,-, 701# IT, prqo ZIO Viv De J 'lva "-'wm-2qu ei", at-i'oixl t 0- ft, L?1[: U t- -;&ui oil y o f am:,,) .At -aatpc�; %Ausl-o iii mt -lpn. ona onn foat VIi'l- -,-Rzt-h !L -i6 oil a kyl al -Ill-, tD knwcoekl ta-,Tl 2 - - - a mtico , :r. 'k �* J. Z-ade. T al -Ill-, tD knwcoekl ta-,Tl 2 - - - a mtico , :r. 'k �* J. OH a IT, Pau -?T-0).. ��-yfl-F �(p{�t�9 �- '^S •�aiti /�'1� T"' �T 6j t'N E. •la. :!�''.L{ -a V. ...�J �� 1 H �'4h ..,,-. ? �, OS .t. ^iS c.P. •� l r P ,ar°. f.:"Y..;"' "'�, *' -•t r' f{"". .. ��.+'_�4G. c�'$�� � ,C? ..'���"'E,4 vi=a -r .,;c.`..��'t.i.f . ..c�.�i�.G � ,�.s._ :'i..��b:.��.sf •,y..> ��. p�� JaA,.Fii' D�4y �� '�" .L„ :�, C> w ��i � � �{�1 S'�.i ` � 7 � � t-�.� ry �, s� °c�.%.1:�,�3' ! � .�1�,-:i 1.�> �:'� � e xi •'i r> .. 07.q Pr4� .iSmrouD CJ?C,: xv Lv, Tz 4 S 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: No Text " 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. 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