HomeMy WebLinkAboutORD 58-BNo Text
Section 4
Said -bonds shall bear interest from their date at
the rate of five (%5), per cent per. annum, e interest
payable semi -annus on the fir's.t day of and
the f irst day of ; 'of eac ear accord to
the tenors ointe.fest coupons thereto tLttached.
Section 5
Principal and. interest on said bonds shall be payable
on pre santation eaBd surrender of b onds or proper coupons at
the office of the City Treasur er of the City of Beaumont, or
at the 44wel.Bank of. New York City at the
option of holder.
Section 6
Said bonds shall be signed by the -Mayor, countersigned
by the City Secretary, registered. by the City Treasurer, and
the seal of - the City shall be impre sse d. upon each o ne of the m.
Section 7
The fac simile . s ignatU.re of the Mayor and the City
Se cr a t,ary shall be l igho graphe d., on the coupons.
Section 8',
It is further ordained by the Oity Council. of the City
of' Beaumont, that to pay the interest on said bonds and to
create a sinking fund sufficient to discharge them at maturity
a tax of three (.03) cdnts on each One Hundred, ($100.00) Dollars
valuation of all taxable property in said city of teaumont shall
be annually levied on said property and shall be annually assess-
ed and collected until said bonds and interest are paid, and
sa id- Aax of three cents (.03) on th,e One Hundred.. (100.00 )
Dollars out of a tax of fifty --two ( .52) cents., on each One
Hundred ($100.00) Dollars property valuation levied .to create
the'zbit erest and sinkiing.fund to pay the outstanding
bonded indebtedness of. this arty` by ,this.. city council
on: the first. day of June ,, :A.D'i915,1, (,The "ordinance,'
making said' -le vy'be ing of record on page;�/ .466k•.3,
Ylinutes, of Oreinances of this'faafiy) • is_ he rsby appropriated
and set aside , to ply the , interest' and :cf,xeate.'the , necessary .
sinking fund f or, the carr ent :year, and :shall be assessed
and � cglle etc d 'snd sa '.applied:, : and -said .,tag, or 'so -.much -:there ;
of as may be., necessary,._.i:8 he'reby'-levted, for each year. -here-
after.:While said. bonds, ore 'any. number thereof,"a outstanding,
and'.'the ., same ,.shall be annually assessed -and collected and'
applied. .to the', purpose named':
It•is..further ordained' that the 1�ayor be authorized
and las'':. is hereby dir;p:cted to :'have .-or.epared eighty-five (85)
bonds of 'tha City of. Beaumont of the .adnomin.atiori ,of One
Th,ouse, nd ($1,000.00),. Dollars' each 'as; above described; .,and
the Mpyor PiW be' authorized to take' and have' charge • of said
bonds pendia their rovest'gation by :the Attorney Ge'n.e'al
of the State of Tegas�, and Zupan the�'r. appy oval .End •'registration
: he shall pr,oaeed to sell ' s;ame at .noAl ss . than their face value
at public .ox :gr -rate °'sale, ,rid the proceeds of such -sale; shall,
be .`deposited with the, City l'rs:asur er :of the, C'ity',of. :Beaumont
,
and :it is 'hereby made,'the ditty of.'the . g6ypt Ttow_pr:ovideintbat
,.saiAcibo%ds.: shall.,be delivered to.the the Citi of
Beaumont;.. and' payment shall .also be made in .the' 0.ity -of , Beaumont .
�Pdasad this the :day of ? 9.D•_ 1,915. _
^.App-r;oved,this.. t e /. air o �.D.1915.
At -test: icl ozi� Mayor
Cit Secretary. ., 1
Beaumont,Texas. June 1,1915.
Hon. Mayor 8o City Counci 1,
City.
Gentlemen:-
We, your Ordinance Committee, to whom was referred
"the attached ordinance, beg to report that we have duly, con-
sidered same, and recommend that it be adoptedtunder -the.
suspension of the rule,requir ing ordinance s. to be re ad at
.three Several meetings.
Respectfl�:11y sub,m,* ,
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