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HomeMy WebLinkAboutORD 60-EE(3V 11 L' P, ':act'-!Q0. Q AN ORDINANCE r ENTITLED AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF A TIME WARRANT OF'THE CITY OF BEAUMONT, TEXAS, UNDER THE PROVISIONS OF THE tTBOND AND WARRANT LAW OF 1931tt, BEING ARTICLE 2368a. OF THE REVISED CIVIL STATUTES OF TEXAS, AND ALL.AMENDMENTS THERETO, FOR THE PURPOSE OF PURCHASING A CAB AND CHASSIS TRUCK FOR THE FIRE DEPARTMENT, SAID WARRANT TO BE DATED DECEMBER 18, 1962: TO MATURE AS HEREIN SET FORTH,.AND�BEARING TNTEREST.AT 3% PER ANNUM; PRESCRIBING 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 AS IT MATURES; AUTHORIZING AND DIRECTING THE.MAYOR AND THE CITY CLERK TO EXECUTE SAID WARRANT 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 WARRANT PENDING ITS.DELIVERY; PROVIDING THAT THE CITY COUNCIL CERTIFIES.AND AFFIRMS TO FIRST SECURITY NATIONAL BANK OF BEAUMONT, TEXAS, THAT THE SAID WARRANT IS A VALID WARRANT; AND REPEALING ALL ORDINANCES AND PARTS OF ORDINANCES IN CONFLICT HEREWITH, AND PROVIDING FOR SEVERABILITY, WHEREAS, The City of Beaumont has entered into a contra -et with Beaumont Motor Company to pur-chase a Chevrolet Cab and Chassis Truck and to pay the purchase price thereof with a time warrant issued by The City.of Beaumont pursuant to authority granted by the Constitution and Statutes -of the State of Texas.; and, WHEREAS,. the City Council has determined that it is now nec- essary and proper to execute the said time warrant under the terms of said contra-ct to be delivered to the said Beaumont Motor Company upon delivery of the said truck; and, WHEREAS, First Security National Bank of Beaumont, Texas, the depository.of The City of Beaumont, has agreed with Beaumont Motor Company to accept the assignment of the said time warrant and pay to the -owners 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 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 $29646.98, payable to the order of Beaumont Motor Company, for the pur-`8ee of t +, paying the purchase price of a Chevrolet Cab and Chassis Truck for the Fire Department of The City of Beaumont. The.said warrant shall be dated December 18, 1962, and shall mature and be payable on.or before -December 18, 1964. The warrant shall bear interest at the rate of three pe'r cent (3%) per annum, and the said interest shall be payable on or before December 18,.1963, and on or before December 18,, 1964. The principal on said warrant shall be payable upon pre- sentation and surrender of the Warrant at the-offi-ce of the Director of Finance of The City of Beaumont, Texas, and the respective inter- est instalments shall be payable at the office of the Director of Finance.as they become due. Section 2. That th6-said warrant shall be in the following form: tt$2� 64b.98 "UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BEAUMONT FIRE TRUCK WARRANT ItKNOW ALL MEN BY THESE PRESENTS: That the City -of Beau- mont, of Jefferson County, Texas, under and by virtue -of a valid contract, acknowledges itself justly indebted to and hereby promises to pay to Beaumont Motor Company TWO THOUSAND SIX HUNDRED FORTY. -SIX DOLLARS AND NINETY: -EIGHT CENTS ($2,646.98) in lawful money of the United States of America on or before December 18, 1964, with interest thereon.from the date hereof until.paid, at the rate of three per .cent (3%) per annum, the interest being pay- able on or before December 18, 1963, and on or before December 18,.1964; and the Director of Finance of The City of Beaumont, Texas, is hereby authorized, ordered and directed to pay to the order of Beaumont Motor Com- pany, its successors and assigns, .on or before December 183 1964, the date of maturity of this warrant, the sum of Two -Thousand Six Hundred Forty-six Dollars and NinetyY eight Cents ($2,646.98), and shall pay the respective interest instalments on or before the date same become due. 1tBoth principal and interest of this warrant are pay. - able at the office of the. Director of Finance of The C- City of Beaumont, Texas, and The City of Beaumont' Texas.$ 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 a Chevrolet Cab and Chassis Truck' _-- for the Fire Department of -The City of Beaumont, under a.contract with Beaumont Motor Company, this being the -only warrant provided for and issued under said contract. "This warrant is issued under and by virtue of the Con- stitution and Laws of the State of Texas and the Charter of The City of Beaumont, and in strict conformity with Article 2368a, and amendments thereto, of the Revised Civil Statutes: -of Texas. It is hereby certified and re- cited that the issuance of this warrant is duly authorized by law, pursuant to an ordinance passed by the City Coun- cil of The City of Beaumont, Texas.., on the 1.8th day of December., 1962. "It 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 pr-ovisions for the levyH ing and collecting 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,statuto.ry limitation, ttIt is hereby recited., certified.,and declared that the additional 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 ordi- nance above mentioned, is December 18, 1962. ttIn 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 18th day of De- cember., 1962. tWayor of The City of Beaumont., ttAttest : Texas. City Clerk of The -:.-City, of Beaumont, Texas.tt E 1 13 `- !k Section 3. That for the purpose of paying the interest .on said Fire Truck 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 - 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 Beaumont Motor-Company.when it is necessary to pay said company under the terms of the contract for the purchase of the said truck. The Mayor and the City .Clerk are author- ized and directed to do any and all things necessary and conveni-ent to effect delivery of the said warrant to Beaumont Motor Company. Section 6. That as an inducement to the said First Security National Bank of Beaumont., Texas., the City's depository, to accept assignment of the above described warrant and to pay to Beaumont Motor Company the cash represented thereby., the City Council hereby certifies and affirms to the said First Security National Bank that the said warrant is properly issued., is a.valid warrant, and represents 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 her-eby rescinded and repealed insofar 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 hereof. PASSED by the City Council this 18th day of December, A.D. 1962..