Loading...
HomeMy WebLinkAboutORD 70-D,40 AN 0RD'I1qANGE Entitled,an ordinance authorizing -and directing. the . proper- officer of the City of- Beaumont, named therein, 'to. -forth- with p:e_ pare and execute and to negotiate -and deliver from tinge to time as r_ecessities require, 'legal- and' banding'obligati ns of the City of Beaumont, in the form of Deficiency Warrants, described in this. ordinance, for the purpose of- defraying the current expenses for the maintenance.and.operation of --the several departmentsof the government mentioned in said ordinance, appropriating an. equal- portion of. the revenues of the City of Beaumont apportionable -to the.several departments affected,',for the year 1923,, for 'the payment and discharge of said viarrants.,.:- _­ +AS, the City -of Beaumont, pending the collection,. of -current- .tax revenues from all sourcew,. being proper proportion of the taxes for the year, ,1923, is . without funds wherewith .to pay its obligations accrued and to be incurred for the operation -,of the several _departments of the city goverxlmen`, and in order to acquire funds wherewith to'„defray expenses 'of all departments of the government, pending the collection of.the said revenues, it is necessary .that the -City of :Beaumont borrow money .in addition - to the $210,000.00 arranged for by ordinance passed February 15, A.D.1923, in the amount hereinafter hamexd and upon the faith and credit of said .city, and to- anticipate ,and pledge; an equal portion of the current tax revenue of the City for the year.1923. BE IT THEREFORE' ORDA-I= BY THE CITY •CgWiISSION _ OF THE ,CITY' ©F BEALM:ONT ; = SECTION 1. That ',B, -A. Steinhagen, Mayor of, -the . City of Be7�iumont-; be and he is hereby authorized and directed to'forthw'ith prepare, or have prepared; and to execute: together with the'Ci-ty Clerk; and -to be countersigned by the City- Man. ager 'legal, and binding obligations of the City of Beaumont, in -the 'fonn of and evidenced by Deficiency Warrants, dated on the- Lt e, 'o r dates when negotiated,and delivered from tin_ -e to time . as- hereinafter provided, 'payable to "BEARER” ; on demand, bearing 6°a, i-nterest from their date until paid, "which said warrants shall be -and are' -hereby secured, by the ' legal and binding K pledgee and hypothecation of One Hundred Forty S,aven:-Thoiiso-nd($147;Ogi0.00)- Dollars, of the current tax revenues of the _City -of Beaumont far the year 1923. as applied to -the funds• of . the .particular departments - and in. the amounts relating to such departments as- hereinafter set forth; the said deficiency warrants to be paid"and retired out of Page #2. the first tax revenues collected for -the year 1923 for the operation -of and application to the several departments of the city government, as hereinafter set forth The said warrants shall be executed, negotiated and delivered as and when it is requisite and necessary to raise money for the payment of existing obligations, and for -defraying the, current expenses for the. operation of the several departments of the governmbnt,as hereinafter set forth, until such time as there shall have been collected sufficient moneys .from the. source above ,mentioned iF,rher.ewith to.pay off, discharge -and retire such warrants,together with accrued interest. thereon. And there is here and now appropriated and set aside out of the first mo_ eys so to be collected above mentioned_ and apportion- ed among the several departments as below shown, a sum sufficient wherewith to pay off and -.discharge all of such deficiency warrants as may be so issued and negotiatbd to the then owners and holders - thereof; provided, however, -the total amount of such warrants of this issue shall not exceed the sum of One Hundred Forty Seven Thousand ($147,000.00) Dollars. The said deficiency warrants shall.be in the following form, to -wit: The State of Texas,. County of Jefferson Beaumont, Texas. 192_ On demand, pay. to the order of "BEARER" Dollars. Tb the Treasurer City of Beaumont ) _ MAYOR ATTEST: Counter -signed: CITY P,4AEAGER . CITY CLERK9 7t',his tarrant is one of a series of several warrants authorized by the City -Commission of -the City of Beaumont, by ordinance duly passed. __ 4 ___ 1923,A.D, and is payable out of the tax No Text