HomeMy WebLinkAboutORD 15-A-3V
#OhA
G^` rte"✓..� , �..�"" �°l.�` ""' �+
"A IT 0 R � D' ,I IT A N. C Err
Authorizing the issuance'.of'bonds for the purpose of
constructing public 'se,,,,rer_s,, and necessary .laterals within the City
of Beavinont, and providing'for the levy and -collection of a tax to
pay the inter -est and create.a sinking fund for the re'emption of said
bonds.
r3i�AS,, at an-' election held for the purpose on the 28th
day of September, A.D.,.:1Q09, a majority of the qualified voters,
who are property tax payers of the City oz'Beaumont, Jefferson
County, Texas, voting at..sald ele'ction.-sustained the proposition
to issue the bonds he-reinafter described, by a vote of one hundred
and sixty seven for.the issuance of said bonds, to a vote of nine
against the issuance .of said bond,,
THEREFORE BE IT ORDAIIT�D BY THE CITY COUNCIL OF THE CITY OF BEATT.MITT:-
Section That there shall be issued by the City of
Bea-unont, Texas, the r,onds ; of said City- to be Called "City of
Bealuaont Sewerage Bonds," -for the purpose of borrowing money upon
the credit of this City, such money to be used in the construction
of public sewers 'and necessary laterals within the City of Beaumont.
Section II:' Said Bonds shall b -e numbered consecutively
from One (1) to fifty ( 50 � inclusive, and shall be of the
denomination of One Thousand 01000.00) Dollar; eae'n, aggregating
the sum of Fifty Thousand 0,'50,000.00) Dollars, and shall be
payable in lawful money of the United rttates of America.
Section III `?aid Bonds shall be dated the
December lst'. 1., D.- , 1909, and shall become due and
vpayable forty years from date, buithe right is expressly reserved
by the City of Beavmlont.to-redeem. said ponds or any number
thereof, at any .time after twen `y 'years from their date.
0
do*
�`ection IV: raid Bonds shall bear interest from their
date, at the.rate of five per cent annum, the interest pgyable
semi-annually, on 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 Bonds shall
be payable on presentation and surrender of bond ,or proper coupon
at the office. of City Treasurer of the City of Beaumont, or at
the Hanover National Bank of .'_` e-t,,i York, at the option of the holder.
Section VI: 2 --.aid Bonds shall be signed by the I:iayor,
countersigned by the City Secretary, and registered by the City
Treasurer, and the seal of'the City shall be'impressed upon each
one of them.
Section"VII:
The facsimile signature of the laayor and
City Secretary shall be lithographed on the couponsq
Section VIII: It is further ordained by the City Council-_..
that to pay the interest on said bonds and create a sinking fund
sufficient to discharge them at ingturity, a tax of three and one-
tenth cents (.031)'on each one hundred dollars valuation of all
taxable property.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 three and one tienth
cents (.031) on the.one hundred dollars, out of a tux of fifty
two cents on each one one hundred dollars property -valuation
levied to create the interest and sinking fund to pay the out-
standing; 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 30 and 31, Volume 2, of the Ordinance lvlinutes of
this Council), is hereby appropri0.ted and set aside to pay the
interest and create the sinking fund necessary for the current
year, and shall be.so assessed and collected and so applied, and-
said
nd
said tax or so much thereof, as may be necessary, is hereby levied
for each year hereafter, while said Bonds, or any.number thereof, are
outstanding, and the same shall'be annually assessed and collected
= and applied for the purposes named.
r
Section IX: ' It is, further-., ordained that the Mayor : be._ '
authorized and, he ...is:, hereby.. d,irect;e'd to have prepared. the fifty
( Q) bonds-of'the City of,.Beaumont,..of denomination of One Thousand
to
(VLOOO.00); ,Dollars each, as' e,bove.'d'escribyed.- and that said hAayor: be. ,
authorized to ta,'ke and have= 'charge of. the aaid- Bonds."' pending.
th51T investigation by the' altt.o.rney'General of the State of.
Texas, and .upon. their. approval.,and-•registration, he shall proceed
t.o s%ell then At,-not..kess th'antheir :face -.--value at' public .or private
Saleeyr and the ,prdbeeds of such sale shall be deposited with, the
City Vreasurer of the City of ';Beaumont, .: and it; is hereby. made the
duty f the i.Tayor' to . provide that said Bonds shall ,be delivered to
the purchaser in the City of Beaumont, and the payment forsame
shall be made .in the City 'of . Be r of t. " y
6
`�assed. on thea day of October,.D., .19090
Approved by th:e .Tjayor on th,e day of October, A.D., 1909.
.Attest:
e Tflayor.
i crary.
t
?' ,.
Beal�mont, Texas, Oc robe:r` 19th:,
,
Y . E HOITOP IBLE MAYOh.
AIM CITY U11CIZ,
-
BEAUi CONT , TE3 S . 51
V.-nV.-n T, L "E Al' IS
i''' iii •'
.• i
,,� , ,
Your 'Commitee:
to whom vJas referr.edAthe
Cite of
"B , ', `' t Sewerage Bonds,
,hereto •attached markehibit'
A,'.r' beg
to:;' that it 'has.
considered s4 mZnd reeomr�eud that
it`:be
4'ort
4%.
.'
4
adb' � Q'� "Ad duly passed;. this.•" •they '� 'day'.,of, Ot t.ober; ^r,
•D.,;, 1909.
r Y �',.•
Respec-tfullysubmitted',
,
Ilk
t.: