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HomeMy WebLinkAboutORD 20-DDAN ORDINANCE ENTITLED AN ORDINANCE AUTHORIZING AND DIRECTING. THE ISSUANCE OF A TIME WARRANT OF THE CITY OF BEAUMONT, TEXA.S,UNDER THE PROVISIONS OF THE "BOND AND WARRANT LAW OF 193151T BEING ARTICLE 2368a OF THE REVISED. CIVIL STATUTES OF TEXAS, AND ALL AMENDMENTS THERETO, FOR THE PURPOSE. OF PURCHASING STREET MAINTENANCE EQUIPMENT, SAID WARRANT TO BE DATED SEPTEMBER 1, 1960, TO MATURE ON OR BEFORE DECEMBER 15, 19615 AND BEAR- ING INTEREST AT THREE (3%) PER CENT PER ANNUM; PRE- SCRIBING THE.FORM OF SAID WARRANT; PROVIDING FOR THE LEVYING AND COLLECTING OF THE TAX NECESSARY TO PAY THE INTEREST AND CREATE A SINKING FUND TO PAY THE PRINCIPAL OF SAID WARRANT WHEN IT MATURES; AUTHOR• IZING AND DIRECTING THE.MAYOR AND THE CITY CLERK TO EXECUTE SAID WARRANT AND IMPRESS THE.CORPORATE SEAL OF THE CITY OF BEAUMONT THEREON, AND DO ALL OTHER THINGS NECESSARY IN CONNECTION WITH DELIVERY�'THEREOF; PROVIDING FOR THE CUSTODY OF SAID WARRANT PENDING ITS DELIVERY; AND REPEALING,ALL ORDINANCES AND PARTS OF ORDINANCES IN CONFLICT HEREWITH, AND PROVIDING FOR SEVERABILITY. BE IT ORDAINED BY THE CITY OF BEAUMONT, TEXAS: Section 1. That The City of Beaumont, Texas, shall issue a warrant, as hereafter described, for and on behalf of and upon the credit of The City of Beaumont, Texas, in the principal amount of Fifteen Thousand_, Nine Hundred Twenty-four Dollars ($15,924.00), payable to the order of Browning Ferris Machinery Company, for the purpose of paying the purchase price of street maintenance equipment for the Street and Bridge Department of The City of Beaumont. The said warrant shall be dated September 1, 1960, and shall mature and be payable on or before December 15, 1961. The warrant shall bear' in- terest at the rate of three (3%) per cent per ahnum. The principal and interest on said warrant shall be payable upon presentation and surrender of the warrant at the office of the Director of Finance of The City of Beaumont, Texas. Section 2. That the said warrant shall be in the following form: ir$15024.00 "UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF JEFFERSON CITY OF -BEAUMONT STREET MAINTENANCE EQUIPMENT WARRANT 1 J 45 'tK:NOW ALL MEN BY THESE PRESENTS.: That The City of Beaumont, of Jefferson County, Texas, under and by virtue of a valid contract, acknowledges itself justly indebted to and hereby promises to pay to the order of Browning Ferris Machinery Company FIFTEEN THOUSAND NINE HUNDRED TWENTY-FOUR .DOLLARS ($15,924.00) in lawful money of the United States of America on or before the 15th day of December, 1961, with interest thereon from the date hereof until paid, at the rate of three (3%) per cent per annum, the interest being.payable on or before the 15th ,day of Decem- ber, 1961; and the Director of Finance of'The City of Beaumont, Texas, is hereby authorized, ordered and directed to pay to the order of Browning Ferris Machinery Company on or before the 15th day of December, 1961, the date of maturity of this warrant, the sum of Fifteen Thousand, Nine Hundred Twenty"four ($15,924.00) Dollars and shall pay the interest due thereon on or before the same date. "Both principal and interest of this warrant are payable at the office of the Director of Finance of The City of Beaumont, Texas; and The City of Beaumont, Texas, is hereby held and firmly bound, and its full faith and credit and all taxable real and personal property therein are hereby pledged for the prompt payment of the principal and interest of this warrant as it matures. "This warrant is issued for the purpose of paying the pur- chase price of street maintenance equipment for the Street and Bridge Department of The City of Beaumont, under a contract with Browning Ferris Machinery Company, this warrant being the sole and only war- rant issued under the said contract. This warrant is issued under and by virtue of the Constitution and Laws of the State of Texas and the Charter of The City of Beaumont, and in strict conformity with Article 2368a, and the amendments thereto, of the Revised Civil Statutes of Texas. It is hereby certified and recited that the is - nuance of this warrant is duly authorized by law, pursuant to an ordinance passed by the City Council of'The City of Beaumont, Texas, :. 2- on the 23rd day of August, 1960. ttIt is hereby certified, recited, and declared that the issuance of this warrant is duly authorized by law and that all acts, conditions and things required to be done precedent to and in the issuance of this warrant have been properly done, have happened and been performed in regular and due time, form, and manner as required by law; that sufficient and proper provisions for the levying and collection of an ad valorem tax have been made, which, when collected, shall be appropriated exclusively to the payment of this. warrant and the interest upon same, and that the total indebtedness of The City of Beaumont, including this warrant, does not exceed any con- stitutional or statutory -limitation. ttIt is hereby recited, certified, .and declared that the addi- tional tax levied and made necessary to be levied in order to provide for the interest and principal of this warrant, together with the rate of tax existing at the time of the issuance of this warrant, is within the limitations of the Constitution and Laws of the State of Texas and the Charter of The City.of Beaumont. .."The date of this.warrant, in conformity with the ordinance above mentioned is.September 1, 1960. "In witness whereof the City Council of The City of Beaumont, Texas, has caused the corporate seal of The City of Beaumont to be affixed hereto and has caused this warrant to be signed by its Mayor And countersigned and attested by its City Clerk, on this 1st day of September, 1960. Mayor of The City of Beaumont, Texas Attest: City Clerk of The City of Beaumont, Texas.ft Section 3. That for the purpose of paying the interest on said Street Maintenance Equipment Warr -ant, and to create a sinking fund to pay -3- �mw t .2of, .' the_,,principal on said warrant when the same matures_ a sufficient tax on.ea.ch One Hundred ($100.00) Dollar -valuation of all taxable property in The City of Beaumont, Texas., shall be annually levied on said property and annually assessed and collected and applied to the purpose named. Section ¢. That said warrant shall be signed by the Mayor and counter" signed by the City Clerk of The City of Beaumont, Texas, and the corporate seal of The City of Beaumont, Texas, shall be impressed upon said warrant. Section S. That the City Manager of*The City of Beaumont is hereby directed,.after.the said warrant has been properly executed as.here.. inabbve provided, to keep the said warrant in his custody to be -de- livered by the City Manager to Browning -Ferris Machinery..Company when it is necessary to pay Browning Ferris Machinery Company under,the terms -of the contract for the purchase of said equipment' The Mayor and the City Clerk are authorized and di.rected.to do any and all things necessary and convenient to effect delivery of the said warrant to Browning Ferris Machinery Company. Section 6. All ordinances and parts of ordinances and all resoluti-ons and parts of resolutions inconsistent with. the provisions of this ordinance are hereby rescinded and repealed in so far as same may conflict herewith; and.it is further provided that if any portion of this ordinance shall be declared invalid, said invalidity shall in no way affect the remaining valid portions thereof. PASED.by the City Council this 23rd day of August, A.D. 1960. Mayor - AN ORDINANCE ENTITLED „AN ORDINANCR AUTHORIZING AND ' DIRECTING'. THE ISSUANCE, OF A : TIME ' WARRANTS OF . THE CITY OF' BEAU14IONT, TEXAS., UNDER THE.. PROVISIONS:OF THE t4BOND AND WARRANT LAW OF 19'31,lr 'BEING ARTICLE 2368A OF THE' REVISED CIVIL, STATUTES, OF .TEXAP,- AND,ALL AMENDMENTS' THERETO.,,- FOR- TIME 'PURPOSE, OF PUI ASI�G STREET I�IATNTENANCE:. EQUIFML-NT, `5AI : WARRANT TO: BE JATk�D SEPTEMBER �, ` 196b, TO 'MAT:UKE:, ON OR BEFORE' DECEKBER ,l5a 1961,E AND BEAR=- . ING INTEREST, AT' THREE (_3%) .' PER. CENT PER.:ANNUM; PRE- SCRIBING ,THE FORM 'OF SAID WARRANT;.; PROVI DING'. FOR "THE . LEVYING,AND COLLECTING;OF THE TAX'NECESSARY TO•PAY -THE INTEREST AND ,CREA_TE .'A SINKING. FUN -A PAY THE PRINCIPAL OF .SAID. WARRANT BEN T.- h1A.TUR:ESg :'AUTHOR- IZINC . AND DIRECTING THE KAYOR . AND THE .CITY' 'CLERIC- TO EXECUTE' SAID WARRANT AND DIPRES S THE CORPORATE `SEAL' OF ..THE' CITY OF ' :BEAUIONT THEREON;": AND 'DO. ALL -OTHER _THINGS NECESSARY IN: CONNECTION .WITH .DELIVERY-.-'TIiEREOF; PROVIDING FOR THE CUSTODY, OF -SAID WARRANT PENDING -ITS , DELIVERY,# ,AND REPEALING, ALL' ORDINANCES -',AND PARTS OF ORDINANCES IN CONFLICT .`.IERI;tITH.' AND" . ]PR O'VIDING'OR SEVERABILITY. :BF: IT ":ORDAINED BY THE CITY OF BEAUMONT'P_' TEXAS, :,: - 'Section Section 1 .., . That The, City'of Beaumont,, Texas,,. shall issue a warrant, as ,hereafter described, for and ®n behalf of .and : npoh the_ credit . of The 'City of. Beaumont, 'Texas-, in the',principal amount `of Fifteen Thousand, Nine. Hundred Twenty -'four- Dollars. 015', 9 24 .'00) , ' payable . to .the order 'of 'Browning _Ferris Machinery. Coinpariy, 'for the purp©se of paying the 'purchase, price of street, maintenance ' equipment f or . the Street and. Bridge . Department .of - The City , of Beaumont; . The said warrant.shall'be dated September 1, 19.6O' and shall mature and be' payable.' on ,or before December 15.,.19619, The wia.rrant' shall bear' .in- . terest at the rate of three 0%) Per, cent per annum. The principal and ' interest 'on 'said warrant shall be-','ayalale upon presentation,and surrender of the warrant at" the office of the ' -Director of Finance. of The City'of Beaumont, Texas... Section 2 That the said, warrant . shall be .in the .following f®rm: ' $115 924.00 ItUNITED._ STATES OF :AM,ERTCA STATE OF TEXAS COUNTY. OF. JEFFERSON, 'CITY,` OF BEAUKONT STREET MAINTENANCE EQUIPMENT WARRANT ✓- e . . "KNOW ALL MEN BY THESE PRESENTS: That The City of Beaumont, of Jefferson County, Texas, under and by virtue of a valid contract, acknowledges itself justly indebted to and hereby promises to pay to the order of Browning Ferris Machinery Company FIFTEEN THOUSAND NINE HUNDRED TWENTY-FOUR DOLLARS ($15,924.00) in lavrful money of the United States of America on or before the 15th day of December, 1961, with interest thereon from the date hereof until paid, at the rate of three (3%).per cent per annum, the interest being payable on or before the 15th.day of Decem- ber, 1961; and the Director of Finance of The City of Beaumont, Texas, is hereby authorized, ordered and directed to pay to the order of Browning Ferris Machinery Company on or before the 15th day of December, 1961, the date of maturity of this warrant, the sum of Fifteen Thousand, Nine Hundred Twenty-four ($15,924.00) Dollars and shall pay the interest due thereon on or before the same date. "Both principal and interest of this warrant are payable at the office of the Director of Finance of The City of Beaumont, Texas; and The City of Beaumont, Texas, is hereby held and firmly bound, and its full faith and credit and all taxable real and personal property therein are hereby pledged for the prompt payment of the principal and interest of this warrant as it matures. "This warrant is issued for the purpose of paying; the pur- chase price of street maintenance equipment for tine Street and Bridge Department of The City of Beaumont, under a contract with Browning Ferris Machinery Company, this warrant being the sole and only war- rant issued under the said contract. This warrant is issued under and by virtue of the Constitution and Laws of the State of Texas and the Charter of The City of Beaumont, and in.strict conformity with Article 2368a, and the amendments thereto, of the Revised Civil Statutes of Texas. It is hereby certified and recited that the is- suance of thus warrant is duly authorized by law, pursuant to an ordinance passed by the City Council of The City of Beaumont, Texas, -2- on the 23rd day of August, 1960. !'It is -hereby certified, recited,-'and'declared'that the iaauance.of-this warrant is duly authorized by law and that all acts, conditions and .things' required to be'done precedent to and in the issuance of this warrant-haye been properly -done, have happened.and been performed in regular and due tine, form, and.manner as required by:l4w; that sufificient:and proper provisions f.or,the levying and collection of an ad val-orem", tax have been made, which, when collected, shall be appropriated ,exclusively ,tQ ,. he. payment �of: this - wair.rant and the interest upon same, and that the total indebtedness of The City of.Beaumont, including this warrant, does .not exceed ,.any con- stitutional:or statutory limitation., ; : Q!It, is- hereby recited, certified, and ,declared that the addi- tional -tax levied.and-made.necessary to be,levied in order to provide for the .interest and principal of this,warrant,,together.with the rate, of tax - existing at the time of the, issu;knce ',of this; warrant, is within .the limitations••of:the Constitution and.Laws of the.State of Texas and the ,Charter of The .City , of Beaumont.. "The date of .this warrant.... in conformity, with the.: ordinance above mentioned is September 1, 196C. "In witness whereof the City Council of The City -of Beaumont, Texas, has caused,the,corporate seal of The City of Beaumont to'be affixed hereto and has caused this warrant to be signed by its Mayor - and- countersigned and attested by its City 'Clerk, on this lst, clay. of 'September, 1960. Mayor of The City, of Beaumont, Texas Attest City Clerk.of The City-, of Deaumont, Texas." Section 3. That for the purpose of paying the interest on said Street Maintenance Equipment Warrant, and.to create a sinking fund to pay -3- I the -principal on -said warrant when the -same matures, a sufficient tax on,each One Hundred ($100.00) Dollar valuation of all taxable property in The City of Beaumont, Texas, shall be annually levied on said property and annually assessed and collected and applied to the purpose .named.- , Section 4. That said warrant shall be signed by the.Mayor and counter- signed by the City Clerk of The City of Beaumont, Texas, and the corporate seal of The City of Beaumont, Texas, shall be impressed upon said warrant. Section $. That the City, Manager of The City of Beaumont is hereby directed, after the said warrant _has'.,been properly'executed as here - inabove provided,,,to keep the said warrant in.his custody to be de- livered by the City Manager to Browning Perrin Machinery -.,Company when it is necessary to Pay Browning,Ferrin Machinery Company'under the terms of the contract for the purchase, of said equipment. The Mayor and the City Clerk are authorized and directed'to do any and all things necessary and convenient to effect delivery of the said warrant to -Browning Ferris Machinery Company. Section 6. All ordinances and parts of ordinances and all resolutions and parts of resolutions inconsistent with.the' provisioner of this ordinance are hereby rescinded and repealed in so far as same may conflict herewith; and.it is further provided that if any portion of this'ordinance-shall be declared invalid; said .invalidity shall in no way affect the remaining valid portions thereof. PASSED by the City Council this 23rd day of August, A.D. 1960. - Mayor -