HomeMy WebLinkAboutORD 93-D4 P,
AN ORDINANCE
AUTHORIZING AND DIRECTING THE PROPER OFFICERS- OF THE
CITY OF BEAUMONT NAMED HEREIN 10 FORTHWITH PREPARE AND
EXECUTE, . AND TO : NEGOTIATE AND DELIVER, IROM TIME T0, 'TIME,
AS N�ESSITj+ES REQUIRE, LEGAL AND BINDING OBLIGATI NS OF
THE CITY OF BEAUMONT, IN, THE FORM OF.. DEFICIENCY WARRANTS,
DESCRIBED -IN -SAID ORDINANCE, ..FOR TRE PURPOSE OF DEFRAYING
THE CURRENT EXPENSES FOR THE MAINTENANCE AND OPERATION -OF.
THE SEVERAL DEPARTMENTS OF THE' GOVERNMENT, MENTIONED IN. SAID
ODRINANCEI, APPROPRIATING AN EQUAL PORTION OF THE REVENUES, OF
THE CITY' OF BEAUMONT'`APPORTIONABLE TO TEET SEVERAL DEPARTIMM; S
AFFECTED'' FOR ' THE YEar, , 19 24 i FOR. THE PAYIMT AND DISCHARGE_ OF
SAID' WARRANTS AND DECLARING AN EllMGENCY.
WHEREAS, The City of Beaumont, pending the collection
of current tag: revenues, -from all. sources., being taxes for the
year 1924, is without funds whe cevdth to. pay its" current obligations
incurred and to. be incurred for the operation. of the several
departments of .the government, and in order to ' acquire , funds where-
with to defray the current expenses of all departmeit,s of the
government pending the collection, of sand revenues, it i -s necessary
that The City ',of, Beaumont borrow money upon the-, faith and c redit.
of said City,,' d to anticipate and ' pledge an equal portion of the
current tax revanenues of the City for the year 1924;
BE IT ORDAINED BY THE CITY. COMMISSION OF THE CITY .
OF BEAMIONT:, .
Section 1•
That B.A.-. 'Steinhagen,. Mayor .of The City of'. Beaumont;. 'be and
he is hereby :authorized to forthwith Ir epare, or have prepared, and
to execute, tog -ether with the City Clerk, and to be countersigned
by the City Manager, legal and binding obligations, of The City of
Beaumont, in the form of and evidenced by .ueficiene.y Warrants
dated --.on the date . or. dates when negotiated, and delivered from time
to time -as hereinafter -provided, payable -to* -"BEARER'S, on demand;
bearing 6% interest from their date .until paid; .which .said warrants
shall be and are hereby secured by the legal 'and',binding pledges
and. hypothecation of 9fto Hundred'- and Zen .Thousand _ Dollars
i 21_00000s00 ' ).of the current tax revenues of The City of
Beaumont, for the year 1924, as,. applied to the funds 'of the particu-
lar departments and in the amounts relating.to-such departments as
hereinafter set °forth; the" said Deficiency Warrants' to be paid and wet -t.
retired .out -of the first tax revenues collected.for the, year 1924 for
the operation, of --and applioatioia: to the: several department's 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 obligation,, and for defraying the current-
exle:nses for the operation of the several departments of .the
government,
as hereinaft-er
set forth,
until
such
time
as there
shall have
been 'collected
sufficient
moneys
from
the
source above
mentioned wherewith to pay off', discharge and retire such warrants,
together with accrued interest thereon.
-�nd there is here and now appropriated and set aside out of
the first moneys so to be collected above.mentioned and apportioned
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 negotiated to the then. owtlers and, holders
thereof;,provided, however, the total amount of such warrants of
this issue shall not exceed the sura of Two Thin red and ''X --en Thoiispnd
Dollars ( 2'000_0: ) •
The said Leficiency Warrants shall be in the following .form,
to wit:—
"The State of Texas # Beaumont, Texas.,
County of Jefferson., 192
On demand, pay to • the order of "BEARER"
DOLLARS ( )
To the Finance
MAYOR
City of Beaumont i
_ATTEST:
CITY CLERK
Counter—signed:
CITY MANAGER
thin 9'uarrant is one of a seri es of several "warrants authorized
by the .City Commission of `he City of Beaumont, by Ordinance duly
passed 'ebruary 1 1924, A.D. ; and is payable out' of the tag
levies for the year 1924, and chaggeable to the particular fund or
department to vh ich it applies when collected.
This Warrant .bears interest at -the. -rate of si per cent
'Per annum from its date until,. paid, r
Each Warrasit' shall, carry' on ,its face the name of the
department to %..Which At . relates ,"
The parti.oular departments and funds of the City.Government,.
for. the operation of which, said funds are -hereby raised` for the
suppo -rt , mainfen:anc e: and ope: ra;t ion of . se,id departments from which
. 'said warrants, shall be -paid, 'arid the amount t o; b e t aken.' . therefrom
for that purpose shall, •be: and a -re according .t o, the_ following
table, e .
Department of Finance, �►..'..::..:..:.:.. 8,'500.00
0
C
General bund .: :.:.........'...::......... 6,.500;00 ,arya6 oQ
Department of Uai'ety:..._...'......::..:..:.. X5;000:00
Department, -of Public •'3P,r ' ca....,.....,...:: :1.901"000000 aa'
Department :of ' Welfake :.:' ::..: ...::..0 20,000:04
The said.. warrants shall be'' duly registered..before ;being
negotiated -by the'Director_ of the Department'. of. Finance.
Section 2.,
Ut the :,faet..that theL City. bf Beaumont is without. funds
noW to discharge the current :.obligations incurred for the
-manitenan.ce. and. _ope ration of the ' several departments . of , gov_ernment;
without . at, once anticipatingand pledging. ' Two -Hundred and
+en � Thousand Dollars_ 210;000.00. ) of the tag
revenues of. 1824 for..the maintenance and operation';of the several
departments..mentioned in .this ordinance creates „en` imperative
public emergency, necessitating -the' suspension of,the rule'..
,.requiring that., :all .o:edinanc6s shall b6 .read on three - 3 j separate
days before, passage, wherefore said rule is hereby suspended, anal
this ordinance shall" take effect upon -'its passage and signature.
of the Mayor;
Passed by ,the affi hive vote al all members .of the Commission
this the ��(.. day of