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Home My WebLink AboutORD 14-A-3"AIT 0RDI igAXC R,; ' Authorizing the :issuance of -bonds" for 'the :purpose of . constructing -certain public school' buildings-and'making certain repairs on school buildings .in the' City of B�eatiunont, and. providing for the, levy and collection of a tax t'o pay the interest and creat -e a sinking fund,.for the redemption: of said,. -bonds ':'IHRREAS, at an election held for' the purpose on the. 28th dad; 'of September, A.D. , 19.09,. -a majo.rit,y" 'of - the qualified voters, who- are property -'tax payers of the, City of D.e.a rit';' .Jefferson County, Texas, voting at said 'election, sustained the proposition, to issue the bonds `her 'ein,6fter described, by a vot'e1'',of, one,.hundred-;;.and sixty four. for the issuance -or_ said bonds, .-to a. vote of- ,thirteen .`against the,issuance' of. said ;bonds';` THERETORE-EE',.IT. ORDAINED .BY THE City Council of the City.of- Beaumont: Section.' I: 'That there. shall b e,.' -.is sued, b.� the -City of Eeaumont_ T:e as.,. the.' -zonas .of_ s.aici :Cit.y_,-to,-be cal'l'ed.-_"ucliool-_House: . Building and' Repair Bonds.," for the ,purpose_, of borrowing money upon the credit:of thus .City, .such money to -be,- used in :-the,- construct'ioi, of public schools :Within 'the City'. o -f Beaumont and;' repairs of ; ' public''schdols within the -0..ity of ,Beaumont.'; section II: .Said' Bonds shall *b,,6 numbered consoQ,Utively'" from One ,( T.) t'o -.One Hundred (100 } . inelusi�e; and `shall 'be ' of 'the denomination of One : Thousand 01000.00) Dollars each, jTggreg Ming the surd 'o IL One Hundred Thousand 0100,000..00.) Dollars,. and -'shall be payable in lavrful money :,of the. United States;. of `merica. Sectliori III: didBonds. shall be dated,'the first day of December, . A.•D.";,' 1909.,. and shall ,hec6t6 due and payable, forty' years from :d,ate,'.' but Ythe right ..is ' expressly reserved. by the City of Beazunont to redeem said Bonds or any number thereof, -fit an ime 'after twenty years from "choir 'date. 9e19 y Section M Said Bonds shall bear interest from their date, at the rate Of five per centlannum, the interest payable semi-annnally, in the first day of June, and .the first day of December of each year, according to the tenor of the interest coupons thereto attached. Section_ V: Principal and interest on said Ponds shall be payable on presentation_ and surrender of bond or proper coupon at the office of City Treasurer W '.the'Cite..of Beaumont, or at the Hanover T;ationdl Tank of Ye �: York, at the option of the holder. Section STI: Said Bonds shall be signed by the Mayor, countersigned by the Citi Cecretary, and regi#ered by the City Treasurer, and the seal of the City shall be impressed upon each one of them. Section VTI: The facsimile signature of the Mayor and City'Secretary shall be lithographed on the coupons - Se . ction oupons. Section VIII: , It is further ordained by the City Council that to pay the -interest on said bonds acid create a sinking fund sufficient to discharge them at maturity, a tax of six and fifteen one hundredth. cents (.0615) on each one hundred dollars valuation of all taxable ,pro�.erty in said City of Beaumont shall be levied annually on said property and annually assessed and collected until said Bonds and interest are paid; and said tax of six and fifteen one hundredth cents (.0615) on the one hundred dollars,;out of a tax of fifty two cents on each one one hundred dollars property valuation levied to'create'the interest and.sinking fund to pay the outstanding; indebtedness of this City by this Council on the 4th day of May, A.D., 1909, (the Ordinance making the levy being of record .on pages 3O and 31, Volume 2, of the Ordinances lunates of this Council ),.is hereby appropriated and set aside -to pay tie interest and create the sinking fund necessary for the current year, and shall be so assessed and collected and go applied, and said tax or so much thereof, as may be necessary, is hereby.levied for each year hereafter, while said Bonds9 or any number thereof, are ,.. `r; r; outstandin.g,_ ,, and, -the ' same;, shall, b -e annually.':assessed and -collected. and applied for,• he,.purposes named. Section, ,Ut It' is .further''ordairied thea .the: Mayor' be authorized and he,. is :hereb.y ,dire(ct.ed' t"o -have.:prepared •the one hundred. (100) boncls ;oT the -'.City -,.of B.'oauraont, of denomination of - One Thousand ($1000 00).' Dollar's each, 'as above described, an:d,, ,y that _the said h•2aJor be author.:i zed to, take , and` have; `charge of .the said Bonds*, pending their. investigatidni,, by�itt.orney..Gene,ral .of the_State"of Texas, and'upon..their approval and registration, h'e shall proceed -to sell!:,them, at.';.'iiot: less,- -han.:their,'face '.value at public or private sale_,,_ and the -proceeds; of- such "sal e'bhall..be deposited with the' City Treasurer �.of_ :the ''C-i:ty of Beaumont; sand it is- hereby s-hereby made .the : duty., of ,the_,.Maypr,. to 1'pro,vlde.'•,that-.,said Bonds.shall be delivered to the. purchaser in the City of 'Beaumont, and -.,the p e t. for same , shall b made, in the: City ' ,f. 3 , umo ate. /4L `�'amu.: `7'��'- .• .. ?'a on.t of October.,-.'A.D. :1909. A� , roved'.b or, on the yp y 'the Ma �,,T3-a .: day of :Octobe•r,. A'�.Z..; 1909. Attest. Mayor. . :. � •it l Coin . Aze u o Beaumont, Texas, October 19th, 1909. TO THE HONORABLE 11fi.�Y.OR AND CITY COUNCIL, BEAM,TONT , T-" XA! . GENTLEi-`EIT: , Your Cormnittee to who r s eferrod^i,he City of Beaumont School House Building and''Repair Bonds, hereto attached marked "Exhibit h," beg to,report that it has considered same and recommend that it be adopted and duly passed, this the fir day of October, 9.D.,`19090 Respectfully smbmittad, tR INA l E 00 TTEE .