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HomeMy WebLinkAboutORD 37-DDAN. ORDINANCE. ENTITLED AN ORDINANCE AUTHORIZING,AND DIRECTING THE ISSUANCE OF TIME WARRANTS OF THE CITY OF BEAUMONT, TEXAS, UNDER THE PROVISIONS OF THE "BOND AND.WARRANT LAW OF 19311t, BEING ARTICLE 2368a OF THE REVISED CIVIL STATUTES OF TEXAS, AND ALL AMENDMENTS THERETO, FOR THE PURPOSE OF PURCHASING FIREFIGHTING APPARATUS AND EQUIPMENT, SAID WARRANTS TO BE DATED.DECEMBER 21, 1960, TO MATURE AS HEREIN SET FORTH, AND BEARING IN- TEREST AT 3% PER ANNUM; PRESCRIBING THE FORM OF SAID. WARRANTS.;, 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 WARRANTS AS THEY MATURE; AUTHORIZING AND DIRECTING THE MAYOR AND THE CITY CLERK TO EXECUTE SAID WARRANTS AND. TO IMPRESS THE CORPORATE SEAL OF THE CITY OF BEAUMONT THEREON, AND TO DO ALL OTHER THINGS. NECESSARY IN CONNECTION WITH DELIVERY_THEREOF; PROVIDING FOR THE CUSTODY OF SAID,WARRANTS PENDING THEIR DELIVERY; PROVIDING THAT THE CITY COUNCIL CERTIFIES AND AFFIRMS TO THE FIRST NATIONAL BANK OF BEAUMONT, TEXAS., THAT THE SAID WAR- RANTS ARE VALID WARRANTS;. AND REPEALING ALL ORDINANCES AND. PARTS OF ORDINANCES IN CONFLICT HEREWTTH, AND PRO- VIDING FOR SEVERABILITY. WHEREAS, The City of Beaumont has entered into a contract with The Seagrave Corporation to purchase fire apparatus and equip- ment and to pay the purchase price thereof with five (5) time warrants issued by The City of Beaumont pursuant to authority granted by the Constitution and Statutes of the State of Texas; and, WHEREAS, The City of Beaumont has received, the fire apparatus and equipment under said contract and'has executed and delivered one (1) of the said time warrants to The Seagrave Corporation, and the City Council has determined that it is now necessary and proper to exe- cute and deliver the remaining four (4) said time warrants to The Sea - grave Corporation, as required by the terms of said contract; and, WHEREAS, The First National Bank of Beaumont, Texas, the de- pository of The City of Beaumont, has agreed with The Seagrave Corpor- ation to accept the assignment of the said four (4) time warrants and pay to The Seagrave Corporation the cash represented thereby; NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF BEAUMONT, TEXAS: Section 1. That The City of Beaumont, Texas, shall issue four (4) warrants, as hereinafter described, for and on behalf of and upon the credit of The City of Beaumont, Texas, each of said warrants being in the prin- cipal amount of'Fourt.een Thousand Three Hundred and Fifty ($14050®00) Dollars, payable to the order of The Seagrave Corporation, for the purpose of paying the purchase price of fire -fighting apparatus and equipment for the Fire Department of The City of Beaumont. The said warrantsshall be dated December 21, 1960. The first. of said warrants shall mature and be payable on or before December 21, 1962.; the second. of said warrants shall mature and be payable on or before December 21, 1963; the.third.of said warrants shall mature and be payable on or be- fore December 21, 1964; and the fourth of said warrants shall mature and be payable on or before December 21, 1965. Each of said warrants shall bear interest at the rate of three percent (3%) per annum, and the said interest shall be payable on or before December 2T, 1961, and thereafter annually on or .before December 21st of each year until the maturity date of the warrant. The principal on each of said warrants shall be payable upon presentation and surrender of the warrant at the office of the Director of Finance of The City of Beaumont, Texas, and the.respective interest instalments shall be payable at the office of the Director of Finance as they become due. Section_ 2. That the said warrants shall be in the following form, with the proper insertions and deletions to conform with the terms of this ordinances 't14,35.0.00 "UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF JEF,FERSON CITY OF BEAUMONT FIRE FIGHTING APPARATUS AND.EQUIPMENT WARRANT 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 FOURTEEN THOUSAND: THREE HUNDRED AND FIFTY DOLLARS ($14,350m00) in lawful money of the United States of America on or before December 21, 196_, with interest thereon from the date hereof until paid, at the rate of three percent (3%) per annum, the interest being payable on or before December 21, 1961, and annually thereafter on or before December 21st of each year until the principal is paid; 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; its successors and assigns, on .or before December 21, 196_, the date of maturity of this warrant, the sum of Fourteen Thou" sand Three Hundred and Fifty ($14,350.0.0) Dollars, and shall pay the respective interest instalments on or before the date same become due.. "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 taxablereal 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 Corporation, this warrant being the (second)(third)(fourth)(fifth) of five (5) war•- rants provided for and 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 con- formity with Article 2368a, and the amendments thereto, of the Revised Civil Statutes of Texas. It is hereby certified and recited that the issuance of this warrant is duly authorized by law, pursuant to an or.- .dinance passed by the City Council of The -City of Beaumont, Texas, on the 20th day of December, 1960. ItIt is hereby certified, recited, and declared that the issu- ance of this warrant is duly authorized by law and that all acts, q c 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 col- lection 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 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.wi.thin, 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 December 21, 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 21st day of December, 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 warrants, and to create a sinking fund t.o pay the principal on each of said warrants as the same shall respectively mature, 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 each of said warrants shall be signed by the Mayor and countersigned by the City Clerk of The City of Beaumont, Texas, and the corporate seal of The City of Beaumont, Texas, shall be impressed upon each of said warrants. Section 5. That the City Manager of The City of Beaumont is hereby dir- ected., after the said warrantshave been properly executed as herein. - above provided, to keep the said warrants in his custody to be deliv-- Bred by the City Manager to The Seagrave Corporation when it is neces- sary 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 neces- sary and convenient to effect delivery of the said warrants to The Seagrave Corporation. Section 6. That as an inducement to the said The First National Bank of Beaumont, Texas, the Cityts depository, to accept assignment of the above described warrants and to pay to The Seagrave Corporation the cash represented thereby, the City Council hereby certifies and affirms to the said The First National Bank that the said warrants are properly issued, are valid warrants, and represent indebtedness of The City of Beaumont. Section 7. 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 noaway affect the remaining valid portions thereof. 1960. PASSED by the City Council this 20th day of December, A. D. -- Mayor - $14s350.00 UNITED STATES OF MfERICA STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BLAIZIONT FIRE FIGHTING APPARATUS AND EQUIPMENT VWRRANT KN(rd ALL MEN BY THESE PRESENTS: That The City of Beaumont, of Jefferson County, Te:&a,i, under and by virtue of a valid contract, acknowledges itself justly indebted to and hereby promises to pay to The Seagrave Corporation FOURTEEN THOUSAND THREE HUNDRED AND FIFTY DOLLARS ($143350-00) in lawful money of the United States of America on or before December 21, 1963, with interest thereon from the date hereof until paid, at the rate of three percent ON) per annum, the interest being payable on or before December 21, 1961, and annually thereafter on or before December 21st of each year until the principal is Paid; 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, its successors and assigns, on or before December 212 19631 the date of maturity of this warrant, the sum of Fourteen Thou- sand Three hundred and Fifty ($14,350.00) Dollars, and shall pay the respective interest instalments on or before the date same become due. 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 purchase price of fire -fighting apparatus and equipment for the Fire Department of The City of Beaumont, under a contract with The Seagrave Corporation, this warrant being the THIRD of five ( 5 ) warrants provided for and 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, rf and the amendments thereto, of the Revised Civil Statutes of Texas. Tt *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 20th day of Decem- ber, 1960. It 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 col- lection 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 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 December 21, 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 21st day of December, 1960. ATTEST: Mayor of The City of Beaumont, Texas City Clerk of The City of Beauunoat, Texas.