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HomeMy WebLinkAboutORD 78-DAN ORDINANCE ENTITLED AN ORDINANCE AUTHORIZING -AND DIRECTING THE PROPER OFFICERS OF THE CITY OF' BEAUMONT, NAMED THEREIN, TO FORTHWITH PREPARE AND ETZECUTE AND 1'0 IEGOTIATE AND DELIVER FROM TIME TO TIME AS NECESSITIES REQUIRE, LEGAL AND- BINDING - OBLIGATIONS OF THE CITOF BEAMIONT, IIT THE FORIE7 OF ' DEFICIENCY WARRANTS, DESCRIBED Ill THIS ORDINANCE, FOR `THE PURPOSE OF DEFRAYING THE CURRIETT MEIaSES FOR THE 11AINTENANCE AND OPERATION OF THE SEVE_ZAL DEP0TM71mTTS OF '_'1Iv GOVERNMENT MENTIONED IN SAID ORDINANCE, -APPROPRIATING AN EQUAL PORTION OF 'THE _,EV ENUES OF THE CITY OF BEAUMONT APPORTIONABLE TO THE SEVERAL DEPAIMIEN`TIS AFFECTED, FOR TIE YEAR 1923, FOR THE PAM= AND DISCHARGE OF SAID. WAR0TS., Whe-reas,the city of oeaumont, pending the collection of current -tax revenues from all sources, being, proper proportion of the taxes for the year 1923, is �rlthout funds wherewith to pay its obligations accrued .and to ;be incurred 'or- the op'erat,i.on. of, the several departments of the Gity government, and in order to acquire funds wherewith to defray expenses of all departments of the government, pending the collectinn of the said revenues, it is necessary that the 'Uity of -Deaumont borrow money in addition to the $210,000000 arranged for .by -rdinance- passed l'ebruary . 15, 1.923 and $147;000.00 arranged fol- by ordinance passed august 28th, 1923-, in the amount _hereinafte-r named and upon the faith and credit of said Uity., and to anticipate- and- pledge an equal portion of the current 'tag revenue of the city for the year 1923. 13E IT O_RDAINED BY- THE- CITY COMMISSION OF THE CITY OF .BEAUIIOITT; SECTION -1. shat B.A. Steinhagen, LIayor of the1 City of Beawnont, be and he is hereby authorized and directed to ,forthwi.th prepare, or have prepared; and to execute, together with 'the City Clerk, and to be countersigned by the City Idanager, legal and,' binding, obligati. -ons Of, the -City of; Beaumont, in the form of and 'evidenced by Deficiency jlarrants , dated ' on the date or dates when negotiated , and delivered from time to time as hereinafter provided, payable to"Bearer" on `dem2,ua, bearing 610 interest from their date until paid, which' said warrants shall b,e and are hereby secuted by the legal and binding pledge and hypo thecation of &zffxtmH1zEak PORTY—T:M THOUL3AITD DOLLARS (04-2,000.00), of the current .tax revenues of the City. of Beaumont for 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. the 'first- tag revenues collected for. the year 1923 for the operation of and application to the several departments of.the city government, as hereinafter set forth. lhe' said 'warrants, shall.be executed:, negotiated -.aad delivered' as and when it is requisite and necessary to raise money for the payment of 'ex isti.ng obligations-,, and for: defraying the current expenses for the operation of the several departments of the government, as 'he-reinafter set forth, until such. time as there shall have been collected sufficient moneys from the saurce above mentioned wher=ewith to pay off, . d,ischarge and re't'ire such. warrants, .together with accrued interest thereon* rind i t i s .here ana - nowr appropriated and set aside out of the first moneys -so -to be -collected above mentioned and appropriated among the several departments as below shown, - a sum sufficient to 'pay off and discharge all of such deficiency warrants as may be -so issued and negotiated to the then otmers and holders thereof; provided, however, the total amount of such warrants, of this issue shall not. exceed. the sum of forty-two thousand dollars (5?429000.00). the said deficiency warrants shall be in' the following form, towit : The Mate of texas, Deaumont, liieza,s. County of Oefferson. :. 192' 'n demand, pay ' to the order- of "BEARER" ) Dollars. C4 -=`h =Yet { cf - -,t_� pt- /Le ) - City of Deaumont,)P­�- _1 ) ATTEST: ITY OL112K Counter -signed: C I TY T:TANAGER This warrant is one of a series of -several warrants authorized by the City Cormnission of the' City of Beaumont, by ordinance duly passed - 1923, A.D.-, and is_ payable .out of .the tax levies. for the year 1923, and chargeable to the particular fund or department to which it applies when collected. This warrant bears interest at the rate of 6% per annum from its date until paid. - Each warrant shall carry on -its face the name of the department to vdlich it relates. The particular departments and.funds of, the. City Goverment, for the operation of which said funds are hereby raised for the support, maintenance andoperation of said departments from which said -'Warrants shall be paid, and the amount to be. taken therefrom for that purpose shall be and 'are according to the -following table: - - Department o:V Welfare ��108000.00 Department of Finance 3,500.00 -Department of Public Service 25,000.00 Genera] .T'und 3, 500.00 That ,aid-; warrants. shall .be duly- registered before being negotiated by the Director of the Departrient of. -Finance: Section, 2. That the fact that the City of- Bea-miont is without funds now to discharge the current obligations incurred for the maintenance and operation of.the several departments of government,without,at once anticipating and pledging NO/10002,000:00) Dollars of the tax revenues of 1923 'for the maintenance and operation of the several departments mentioned in this ordinance creates an imperative public, emergency, necessitating.the suspension of the rule -requiring that all ordinances shall be read on.three (3) separate days before passage,wherefore-said rule is hereby suspended,, -and this ordinance shall. take effect upon its'passage and signature of the Mayor. 71iAYaR� - Passed' this 27th day of November, 1923.