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HomeMy WebLinkAboutORD 29-DD0 f I A AN ORDINANCE ENTITLED AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF A TIME WARRANT OF THE CITY OF BEAUMONT, TEXAS,UNDER THE PROVISIONS OF THE "BOND AND WARRANT LAW OF 193.1". BEING ARTICLE 2368a OF THE REVISED CIVIL STATUTES OF TEXAS, AND ALL AMENDMENTS THERETO, FOR THE PURPOSE OF PURCHASING FIRE FIGHTING APPARATUS AND EQUIPMENT, SAID WARRANT TO BE DATED OCTOB.ER 3, 1960, TO MATURE ON -OR BEFORE OCTOBER 3, 1961, AND BEARING INTEREST AT THREE PER CENT (3%) PER ANNUM;PRESCRIBING. THE FORM OF SAID WARRANT; PROVIDING FOR THE LEVYING AND COLLECTING OF THE TAX NECESSARY TO PAY THE INTER- EST AND CREATE A SINKING FUND TO PAY THE PRINCIPAL OF SAID WARRANT WHEN IT MATURES; AUTHORIZING AND DIRECT- ING THE MAYOR AND THE CITY CLERK TO EXECUTE SAID WAR- RANT 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 hereinafter described, for and on behalf of and upon the credit of The City of Beaumont, Texas, in the principal amount of Nineteen Thousand Two Hundred Eighty-four ($19,284®00) Dollars, payable to the order of The Seagrave Corporation, for the purpose of paying the pur- chase price of fire fighting apparatus and equipment for the Fire De- partment of The City of Beaumont. The said warrant shall.be dated October 3, 1960, and shall mature and be payable on or before October 3, 1961. The warrant shall bear interest at the rate of three per cent (3%) per annum. 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 f ollowing,forma "19,284.00 t4UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BEAUMONT FIRE FIGHTING APPARATUS`- AN-h"EQUIPMENT WATTANT ttKNOW 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 Seagrave Corporation NINETEEN THOUSAND TWO HUNDRED EIGHTY.FOUR DOLLARS ($19,284.00) in lawful money of the United States of America on or be- fore the 3rd day of October, 1961, with interest thereon from the date hereof until paid, at the rate of three per cent (3%) per annum, the interest being payable on or before the 3rd day of October, 1961; and the Director of Finance of The City of Beaumont, Texas, is hereby authorized, ordered and directed to pay to the order of The Seagrave Corporation on or before the'3rd day of October, 1961, the date of maturity of this. warrant, the sum of Nineteen Thousand Two Hundred Eighty-four ($19,284.00) Dollars, and shall pay the interest due there- on on or before the same date. ttBoth 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 purchase price of fire fighting apparatus and equipment for the Fire Department of The City of Beaumont, under a contract with The Seagrave Corpora- tion, this warrant being the first of five (5) warrants provided for and to be issued under 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 Stat- utes of Texas. It is hereby certified and recited that the issuance of this warrant is duly authorized by law, pursuant to an ordinance passed by the City Council of The City of Beaumont, Texas, on the llth day of October, 1960. -2- fet 1 1 6� . I 'tIt is hereby certified, recited, and declared that the issu=- ance 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 cols lection of an ad valorem tax have been made, which, when collected, shall be appropriated exclusively to the payment of thiswarrant and the interest upon same, and that the total indebtedness of The City of Beaumont, including this warrant, does not exceed any constitutional or statutory,limitation. "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 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 October 3, 19.60. "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, as.of the 3rd day of October, 1960. Mayor of The City of Beaumont, Texas «Attest: City Clerk of The City of Beaumont, Texas." SECTION 3. That for the purpose of paying the interest on.., said fire fighting apparatus and equipment warrant, and to create.a sinking fund to pay 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 cor- porate seal of The City of Beaumont, Texas, shall be impressed upon said warrant. SECTION 5. That the City Manager of The City.of Beaumont is,hereby dir- ected, after the said warrant has been properly executed as hereinabove provided, to keep the said warrant in his custody to be delivered by the City Manager to The Seagrave Corporation when it is necessary to pay The Seagrave Corporation under the terms of the contract for the purchase of said apparatus and 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 The Seagrave Cor- poration. SECTION 6. All ordinances and parts of ordinances and all resolutions and parts of resolutions inconsistent with the provisions of this ordinance are hereby rescinded and repealed.in so far as same may conflict here- with; 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 llth day of October, A.D. 1960. - Mayor -