HomeMy WebLinkAboutORD 43-A-3FILED T S TRF E--Dby
OF
.J, . SUTTON, A N
CITY SE.GRETARY.
Per asst,
'6-P7 17;
ORD! N A N C E.
Entitled.an ordinance authorizing the issuance of bonds
for the purpose of constructing, an abattoir withiri, the City of Benz
wont, and providing ,for the levying and collecting of a tax to pay the
interest. and --create a sinking ,fund for -the redemption of said bonds.
VThereas, at 'an election held -for the purpose on.the .11th day
of August, A. D• 1911, a majority of the qualified voters,, who are
property tax payers of_ the City of Beaumont, Texas, voting at said
election, sustained the proposition to issue the bonds hereinafter
described, by a vote .of '245 for the issuance of said. bonds to a ,vote of
68 against the issuance .of said bonds, Therefore,
BE IT ORDAINED - BY THE CITY COUNCIL �OF TIU� CITY OF BEIAUMONT :
Section 1.
That there shall be issued by the City of Beaumont, m yxas,
the bonds of said city to. be called "Citi of Beaumont Abattoir Bond"'.
for the purpose of borrowing money upon the credit of this city, such
money to be used in constructing an abattoir within the City of Beaumont.
Section 24
Said bonds `shall be numbered from one to twenty-five (1 to 25)
inclusive, and shall be -sof the denomination of One Thousand (919000.00),
Dollars each, aggregating the sum of Tw'enty-five Thousand 025,000.00)
Dollars, and shall be payable in lawful money of the United States of
America.
Section 5,
Said bonds shall be dated the first day of December, A. D.
1911, and shall become clue and payable forty years from their date,
but the right is hereby reserved by the Citi of Beaumont to redeem said
bonds or any number thereof 'at any time after t;ventyfears from their
date®
Section 4.
Said bonds shall bear interest from their date at the ' rate
of five per cent (5%) per annum, interest payable semi --annually, on
the first day of June and the first day, of Dece4ber of each- year, ac-
cording to the tenor of the interest coupons thereto attAched.
Sebtion 5*
Principal and interest on s aid bonds shall be payable on
presentation and surrender of bonds or .proper coupon at the .office
of the City 'Treasurer of the City of Beaumont or at the
National Bank of New York City; at the option of the holder.
, Section 6.
Said bonds shall be signed byntheMayor, counter -;signed
by the City Secretary and registered by the City .'Treasurer, and
the seal of the City shall be impressed upon each one of theme
Section 7.
The fac-simile,.1signature of the Mayor and the City Secre-
tary shall be lithographed on the coupons.
Section 8.
It isfurther ordained by -the City Council that to nay
the interest on said bonds and create a sinking fund sufficient to
discharge them at maturity. a tax of one and three'tenths (.013)
cents.on each one hundred dollars valuation of all taxable property
in said 'City of Beap4iont shall be annually levied on said property
and shall be amnually assessed and ca lleeted until such bonds and
interest are paid, and said tax of one and three tenths (.013)
cents on the one hundred dollars, out of a tax of fifty-two (.52)
cents on each one hundred dollars property valuation levied to.
create the interest and sinking fund to pay the outstanding bonded
indebtedness of this city by this council on the') -4 day of rN_Y\O_
A. -D. 1911 (the ordinance making said levy being of record on page l
Book '� of the Minutes of this council) is hereby' appropriated and
set aside to pay the interest and create the necessary sinking
fund for the current year, and shall be assessed and collected and
so applied, and said tax, or so much thereof as may be necessary is
hereby levied for each year hereafter while said bonds, or any num-
ber thereof, are outstanding, and the same shall be annually assessed
and collected and applied to the purposes named.
Section 9,
It is further ordained thgt the 14yor be authorized and he is
hereby directed to have prepared twenty --five bonds of the City of
S' E"PT .17,
Beaumont of the denomination of One Thousand'($1,000.00) Dollars
each, as above described; and that the Mayor be authorized to take and
have charge of said bonds pending their investigation by the Attorney
General of the State of Texas, and upon their approval and regia-- .
trat3on, he shall proceed to sell same at not less than their face value
at public or private sale, and the proceeds of auch sale shall be de-
posited with the City Treasurer of the City of Beaumont, and it is
hereby made the'duty of the Mayor to provide that said bonds shall be
delivered to the purchaser in the City of Beaumont, and payment for
same shall also be -made in the: City of Beaumont.
Passed on the day of A. D. 1911. Approved by
the Mayor on the. ��Iday ofc_ A. D. 1911*
Attest:
City Secretary.
C'ERTIF1 CAS 0D, PASSAGE' -
STA TE
AGESTATE OP TEKA.S -•
' S .
COUNTY Or TLrR 'ERS0N):
_ --T , J. 1d. Sutton, City _Secretary,., do
hereby' certify t1la t the a.ttahce.d_ o3�dinancs avas
duly passed by the Ci ty Council, on'"', -the 7 th day of :
Sep. tomber, A.. B. 1911, and acme i s' "on file ire �iy
office,
City earetary.
CRE"A 'ICATE Or, PITBLICA1ION-.
4 <4�j
of the Beaumont-Jounral Pub ..iehing .Company do, hereby'.. _
07
certify that the attached ordinance was duly,pub-
1'1 e;Iied in ' th,(u) Be ont. Journalonce on-'tke following
day, tD.. twit
: Vex. Bem- montJ`ourrial Pub. 00 �
Swo rn and subscribed 'b-efo r e---rah--I this. --the �� day
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Abattoir Bonds,
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191 ........ ........
T I! T �__
J.G.SUTTON,
Crry SEGRETAR-Y -
Per Asti.
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