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HomeMy WebLinkAboutORD 29-IAN 0 RD INA.NCE AUTHORIZING AND DIRECTING THE PROPER OFFICERS OF THE CITY OF BEAUMONT NAND HEREIN TO IFORTIRVITH PREPARE AND EXECUTE AND TO NEGOTIATE AND DELIVE t FROM TIME - TO TIME AS NECESSITIES REQUIRE, LEGAL AND -BINDING OBLIGATIONS OF THE CITY OF BEAUMONT IN THE FORM OF DEFICIENCY WARRANTS, DESCRIBED IN SAID ORDINANCE, FOR THE PURPOSE OF DEFRAYING THE CURRENT -EXPENSES FOR TEE MAINTENANCE AND OPERATIONS OF THE GENERAL DEPARTMENT OF GOVERNMENT MENTIONED IN SAID ORDINANCE; FOR THE PAYMENT AND DISCHARGE OF SAID WARRANTS; AND. i E CLARING AN EHE�RGENCY: WHEREAS, the City of Beaumont, pending the col_le-etion of the current tax revenues, from all sources, being taxes for the year 19312 is without funds wherewith to pay its current obliga- tions incurring and to be incurred for the operation of the General Department of the government, and in order to acquit. e - funds wherewith to defray the current expenses of the General Department -of the government pending the collection of said revenues, it is necessary that the City of Beaumont borrow money upon the faith and credit of said City, and to .anticipate and pledge an equal portion_ of the current tax revenues of the City for the year 1931: THEREFORE, BE IT ORDAINED BY THE CITY COMMI SS ION OF THE - - CITY OF BEAUMONT: lection 1. That Eo A. Fletcher, Mayor of the City of Beaumont, and his successors in office. be and they are hereby authorized to forthwith prepare, or have prepared, and to. -'execute, together with the- City: Clerk, and to be countersigned by the City Manager, legal..ar)d binding obligations of the City of Be avmont, in. the form of and - evidenced by Deficiency Warrants dated on the date or. dates when negotiated, and delivered from time to time as hereinafter provided,- payable rovided,payable to "BEARER" on demand, .bearing not more than 6% interest fran hc . their date until paid,.w k, -=said warrants shall be and are hereby secured by the legal and binding pledges and hypothecation of TWO HUNDRED THOUSAND DOLLARS ($200,000.00) of the current tax revenues of the City of Beaumont for the year 1931, as applied to the Genera Fund, the said Deficiency Warrants to be paid and retired out 'of the first tax revenues collected for the year 1931 for the operation of and application to the General Department of .the City Government as hereinafter set forth = The said warrants/�hall be executed, negotiated and delivered as when it is requisite and necessary to ra'i'se money for the payment of existirg obligations and for defraying the current -expenses for the Y' operation of the general Department of the government., until such time as there shall have been collected sufficient moneys from the soure.e above mentioned wherewith to pay off., discharge., and retire such warrants., together with accrued interest thereon-. And there is here and now appropriAted and set aside out of the first moneys so to be collected., a sufficient sura wherewith to pay off and discharge all of such deficiency warrants as may be so issued and negotiated' to the then oTvner.s and holders thereof; provided., however, the total amount of such warrants of this issue shall not exceed the sum of TWO HUNDRED THOUSAND DO ILARS ($2005,000-.00)0 The said Deficiency Warrants sha.l1 be in the following form., to wit: "The State of Texas, Cotaity of jefferson* Beaumont, Texas 193* On Demand, pay .to the order of "BEARER"_ To the Director of Finance ) City of Beaumont ) Countersigned: City Manager DOLLARS: Mayor* Attest: City Clerk* This Warrant is one of a series of several warrants authorized by the City Commission of the City of Beaumont by Ordinance duly passed on the 23 d.ay of February, A. D® 1931, and is payable out of the tax levies for the year 1931, and chargeable to the General Department when collected* This Warrant bears interest at the rate of not more than six per cent per annum from its date until paid;" The said Warrants shall be duly registered before being negotiated by the Director of Finance© Section 2; The fact that the City of Beaumont is without funds now to discharge the current obligations incurred for the maintenance ar-d operation of the General Department of Government, without at once anticipating and pledging TWO HUNDRED THOUSAND DOLLARS (4\200.,000;00) - of 4200.,000;00)of the tax revenues of 1931, for the maintenance and operation of the General Department mentioned in this ordinance creates an imperative public emergency, necessitating thv suspension of the rule requiring that all ordinances shall be read on three (3) separate days before passage, wherefore said rule is. hereby suspended and this ordinance shall take effect upon its passage and signature of the Mayor: Passed by the affirmative vote of - all members of the City z.3 =°L Commission, this the day of February; A.D. 1931; May oea The State of Texas, County of Jefferson. I zo_-3, lq�l Before -me, the undersigned authority, on this day personally appeared .................................... RILEY ------------­-­-- --------------- ---------------------------- known to me, who being by me- duly sworn, on his oath de- CLASSINFIED YlANAGEM poses and says that he is the--------------------------------------------------------............................. of the BT ENZER9WE, BEAUMONT JOURNAL, a newspaper published in said county; that a copy of the within and foregoing was published in said newspaper, such publication being on the follow- - in g dates: ---------------------------------------- ---------------------------------------A. D. 1 .... and a newsp er copy of which is hereto attached. -- ­ ----- ------------------------ Sworn to and subscribed before me, this ........ 3 ........ day /t ......A. D. 1 aj_/. Authorizing AN ORDINANCE and directing the proper officers of the city Of 13eaumont named herein to forthwith prepare and execute ..................................... -------- .... ............... and to negotiate and deliver from time to time as necessities require legal and Notary Public, Jefferson County eras. binding Obligations of the city of Beau - Mont In the form of deficiency warrants, described in said ordinance, for the pur- Dose of defraying the current expenses for ohe maintenance and operation - of the ,.neral department of government men- I Toned in said ordinance; for the payment udl,discharge of said 'warrants; and de- I an emergency. Whereas. thr emergency. f —1-- ­­ I 13 ciar,.,U ..,. -- f BeSUMO 1 rte•." Whereas, the city o the' c'Mection of the current tax revenues, from all sources, being taxes for the year 1931, is without funds wherewith andP to its current obligations incurring belncurred for the operation of the gen- eral deperewith to in order,artment of the government. and defray the currentac rexpenses of the general department of. the governme it is necesP the collection of said revenues, sary that the city of Beaumont borrow money ' P0n the faith and credit Of said city, and to anticipate and .pledge an equal portion oY the current tax rove nues of the city for the year 193r�e city Therefore, be it ordained by commission of the city of Beaumont: Section 1 That E. A. Pletcher, mayor of the city of Beaumont, and his successors in office, be and they are orerYaveprepazed nand to forthwith prepare, to execute, together with the city clerk, and to be countersigned by the city man - c,ty� oflegal Beaumont. in the gformsoff and evidenced by deficiency warrants dated 1 on the date or dates when negotiated, and delivered from time to to ,BEARER" -as hhEg„ Ir{after provided, payable py1 d^mand, bearing not more than 6Q/. interest from their date until paid, which said warrants shall be. and are hereb secured by the legal and binding pledges and hypothecation of TWO HUNDRED THOUSAND DOLLARS ($200,000.001 of the n f rtaxhev Year 1931asapplied the city Beau- montto 1 rantsto bepaid and retired out of general fund. tsetdeficiency war- rants revenuesfirst tax he Year 1931 for theoperation of ed for t ef and apPlica- tion to the general department of the, city government as hereinafter set forth. The said warrants shall be executed, negotiated and delivered as when it is requ'site and necessary to raise money for the payment of ' existing obligations and for defraying the current expenses for the operation of the general department of the government, until such time as there 6 ha11 have been collected sufficient moneys from the source above mentioned ti chewarrantsa together with eaccrued in terest thereon. And there is here and now appropri- ated and set aside out of the first moneys so to be colleted, a sufficient sum where- to pay off and discharge all of such deficiency warrants as may be so issued an and negotiated to the then how nor, the rs holders thereof; P total amount of such warrants of this Issue shall not exceed the sum of TWO HUNDRED THOUSAND DOLLARS ($200,000.00). The said deficiency warrants shall be in the following form to wit: "The State of Texas, Beaumont, Texas.1930. County of Jefferson. to 'the order of On demand, Pay DOLLARS. 'BEARER' $........ . To the Director of Finance) City of Beaumont ) .............. • ... .Mayor. Countersigned: City Manager. Attest: ....... City Clerk. This warrant is one of a series of several warrants authorized by the city commission of the city of Beaumont by Ordinance duly passed on the 24th day of yable out ofbthertax levvieslfor931, and a the year1931, and chargeable to the general department when collected. This warrant bears interest at the rate of not more than 6 per cent per annum from its date until paid." The said warrants shall be duly regis- tered before being negotiated by the di- rector of finance. Section 2 The fact that the city of Beaumont U without funds now to discharge the cur- rent obligations for the maintenance and operation of the general. department of government, without at once anticipating and pledging TWO HUNDRED THOUSAND DOLLARS ($200.000.00) oY the tax reve- nues of 1931, for the maintenance and operation o° the general department men- tinned in this ordinance creates an - perative public emergency, necessitating tY.e suspension of the rule requiring that all ordinances shall be read on three (3) separate days before passage, where- fore said rule is hereby suspended and this ordinprice shall aeffect pa sage ndsig atureof the mayor. its r. Passed by the affirmative vote of all �inembers of the city commission, this the 23rd day of February, A. D. 1931. E. A. FLETCHER, Mayor.