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.