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HomeMy WebLinkAboutORD 5-EAN ORDINANCE RATIFYING AND APPROVING ORIGINAL AND SUPPLEMENTAL CONTRACTS ENTERED INTO BY AND BETWEEN THE CITY OF BEAUMONT AND NJVALDE ROCS ASPHALT COMPANY FOR THE CONSTRUCTION OF CERTAIN STREET IMPROVEMENTS IN AND SEVEN FOR SAID CITY; AUTHORIZING THE ISSUANCE OF M PER CENT WARRANTS IN PAYMENT OF THE CONTRACT PRICE OF THE PORTION OF SAID IMPROVEMENTS ASSESSABLE AGAINST SAID CITY; LEVYING A TAX TO PAY THE INTEREST ON AND PROVIDE SUFFICIENT SINKING FUND TO PAY THE PRINCIPAL OF SAID WARRANTS; A11 -- -A1- Gn CY; - WHEREAS, heretofore, on the 7th day of March, 19240 the City of Beaumont, acting by and though its duly authorized officers, entered into a contract with Uvalde Rock Asphalt Company, acting theaugh its Vice President and General manager, for the construction of oertain street improvements in and for said City, which contract was duly concurred in by all the commissioners of said City, referred to and approved by the City Council of said City, and recorded in Book , i ettswq•. of the Mi mites of the axii Commission of said City; and WHEREAS, the said Uvalde Rock Asphalt Company has agreed to accept in payment of that portion of said street improvements which is assessable against said City, legally issued j= per cent warrants of said City, and the following suppleipental contract has this day been entered into by and between said City of Beaumont, and the Uvalde Rook Asphalt Company, to -wit: fZ_c w L) .lie 1 7d`,. SUPPLEMENTAL CONTRACT , THE STATE • OF TEXAS' COUNTY, OF JEFFERSON -,THE. AGREEMOT, entered into on this the day of .D A-11� 1924,' by and betiees The City of Beaumont, Texas. - hereinafter termed "The . City" and Uvalde Rock Asphalt Company, hare3nafter termed "Contraetorw is made supplemental to, and as a . part of, oontraot entered into on the 7th day . of ,March, ,1924, by and, between the parties. hereto, WITNESSETH The -.,City. agrees to .issue,• and the Contractor agrees to accept legally issued -warrants of the -City of B'eaunont, to evidence the" portion of the 'oost • of the. street impro vements . ' covered by said contract which is 'as see sable against the.• City; said warrants to be in denomination, of $100+00.00 -each, bearing sevem !ts per oent interest, 'and shall be due and payable eeriall? 1935 to 19299 inclusi ve; -- - = The• `partieshereto`-iurther agree that the amount of warrants so issued shall in ho event exoeed the aggregate Amount of Thirty "Five ;Thousand Dollars ($35,000-.00). Said warrants • shall be delivered to - contractor in installments • in payment of, claims covering work oompleted, after• such claims have been duly audited -aid all by the City 'Commission, as provided by Seotion 26, of the: original oontraot. IN TESTIMONY WHEREOF, -the City- of Beaumont has caused these presents, to -be 'siggnned by, the Mayor and City Manager, and Clerk Attested by the -City isars#ar.y, and -the Uvalde Rock' Asphalt Company has oaused these presents to be ••signed by its Vice President and General Manager, and attested, by its Seoretary, this the._ day o•f April, 1924. CITY OF.,BEAUMDHT, TEXAS . sem.... ,. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF BEAUMONT : SECTION L. That said original contract hereinabove referred to, entered into bn the 7th day of March, 1924, and the supplemental contract entered into on the _ day of April, 1924, hereinabove set out, between the City of Beaumont and Uvalde Rock Asphalt Company, are hereby ratified, approved, confirmed and adopted as the act and contract of said City, and the contract price for that portion of the street improvements covered by said contract which is assessable against said City, is hereby made and declared to be the lawful debt of the City of Beaumont, Texas. �ECTIOA II. That the contract price, under said contract, for the portion of said street improvements assessable against said City, in the judgment of the City Engineer and the said Uvalde Rook Asp:halt Company is Thirty Five Thousand Dollars ($35,000.00). SECTION III. That Warrants of said City, to be called "CITY OF BEAUMONT STREET IMPROVEMENT WARRANTS- UVALDE ROCK ASPHALT COMPANY SERIES" be issued to ebideno• the indebtedness of said City for the construction of the portion of street improvements in and for said City, under said contract, assessable to said City, described as follows: (a) Said warrants shall be numbered from one (1) to thirty five (35) inclusive, shall be of the denomination of One Thousand Dollars ($1,000.00) each, aggregating Thirty Five Thousand Dollars ($35,000.00), (b) They shall be dated the 1st day of June, 1924, and shall become due and payable serially as follows: WARRANT NOS. 1 to 7, inclusive DATE OF MATURITY June 1, 1925 8 to 14 " June 1, 1926 AMOUNT. 7,000.00 7,000.00 V N (o) Said warrants shall bear interest from date until paid at the rate of seven per cent (7%) per annum, payable semi— annually on the lot day of June and let day of December of each year, which interest shall be evidenced by coupon attached to each of said warrants. Past due interest shall bear interest from maturity until paid at the rate of seven per cent (7%) per annum. (d) Principal and interest of said warrants shall be payable in lawful money of the United States of America, at the National City Bank of New York, New York, upon presentation and surrender of warrants or proper coupons. (e) Said warrants shall be signed by the Mayor, eouttersigned by the City Manager, attested by the City Clerk, Director of Finance registered by the/Ax ttnW%7tt:VxTr*swr, amr, and the seal of said City shall be i repressed upon each of said warrants. Fao simile signatures of the Mayor, City Manager and City Clerk may be lithographed upon the interest coupons. SECTION IV. Said warrants shall be in substantially the -following form. No. $1,000.00 UNITED STATES OF AMERICA THE STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BEAUMONT STREET IMPROVEMENT WARRANT UVALDE ROCK ASPHALT COMBANY SERIES. THE CITY OF BEAUMONT, a municipal corporation in the County of Jefferson and State of Teras, under and by virtue of a valid and subsisting contract, is justly indebted to Uvalde Rook Asphalt Company, its assigns or bearer, in the principal Sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful money of the United States of America, together with interest thereon, from date hereof until paid, at the rate of seven per centum r V and surrender of warrant or proper coupon; and the Dfiisect rr�ofry3nanoe of said City is hereby authorized, ordered and directed, to pay to the said Uvalde Rock Asphalt Company, its assigns or bearer, at the said Bank, on the let day of June, 193„_, the date of maturity of this warrant, the said sum of One Thousand Dollars ($1,000.00). in full settlement of the indebtedness hereby evidenced, out of and from the moneys belongbng to the special "Street Warrant Fund No. " of said City, levied, assessed and created for that purpose. This warrant is one of a series of thirty-five (35) warrants, numbered consecutively from one (1) to thirty-five (35) inclusive, of the denomination of One Thousand Dollars ($1,000.00) each, aggregating Thirty Five Thousand Dollars ($35,000.00), issued for the purpose of evidencing the indebtedness due by the City of Beaumont, Texas, to the Uvalde R-ock Asphalt Company, its assigns or bearer, for the eonstrmot- ion of street i mprobements in and for said City, in accordance with contract between sail City a�d said Company, under and by virtyte of the Charter of said ity, an the Constitution and laws of the State of Texas, and in pursuance of an ordinance passed by the City Commission of the City of Beaumont on the r day of A r Y,, 19$4, which is recorded in Book --L pages at seq. of the Minutes of said Commission. The date of this warrant, in conformity with the ordinance above mentioned, is June 1, 1924; and it is hereby certified and recited 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, and that the total indebtedness of said City, including this warrant, does not exoeed the constitutional, statutary or charter liritation. IT IS SPEMALLY AGREED that all past due interest hereon shall bear interest at the rate of 7% per annum from maturity until paid; and if this warrant, or any interest coupon hereto attached, is SECTION V. Said warrants. shall be executed and delivered, to. said Uvalde Rook Asphalt Company in. installments as-followe: On certificates furnished- by the :City. Engineer, -of work completed and material furnished :and inspeet'ed .in accordance with contract, as provided in paragraph 26 thereof; it being; understood that no warrants. shall • be'- executed or: delivered axoept 'to evidence. indebtedness due by said.City to said Uvalde.'Rock-,Asphalt Company; as shown by.such-eertificates, after'said•certificates, or .estimates have been duly..audi_ted- 'and •allowed by the City ' Commissi on' of said City;. it being further understood . that' when such eertificat es have been -audited and allowed, -.only 90% o•P '080e -'shall be paid by. the issuance of saidAarrante, the remaining 10 ,'to be paid upon .final completion and acceptance of said street -impro vemente ;SECTION VI. IT IS FURTHER ORDAINED that. a .fund be and the same is 'hereby made and created and. shall be set, ,aside out. of the _ ad -valor' tazes levied 'and eolleoted .'by said,. City, and,designated" "Street Tmpro,vement Warrant Fund .No, _*. which flind,- when " collected, . sha11 be used to',paythe interest -.on said warrants 'and .the principal thereof at, maturity, and for_ no other parposee SECTION Vil l That .t o create. sai d .Pard to pay the interest on said ..warrants and tbt provide a. sufficient ' ainki ng fund to pay the principal ;thereof at maturity., a tax of and' at.. the rate of two -and one fourth cents ' (2.4) on eaoh'One Hundred, Dollars valuation of all taxable property*in the Cityof Beau Wont., is hereby levied . for the current. year and so mnoh thereof as shall -be .necessary for each succeeding year while said warrants or. any, of,, them are 'outstanding; and. said tax shall be :annually assessed and ,00llectedl. and applied to,.•the `PUrposes``namdOL . SECTION VIII The fact that the bad condition . of.' the streets, for the improve ent • of whioh the , sai d warrQnts are,,authorized and directed to' be• issued. seriously E obstructs and 'congests traffic thereon, and 1-� The State of Texas, Countp of Jefferson - ;t -s,�ng uau�-� �;siut d- 'put ;� ; .zxons+aag oune"o-iaulnu- aPa �� •s0 pur saint aiuog a.19,W gorgM ;o on�� ..ijarj Before me, the undersigned authority, on this day personally appeared_ _ _ _ _ _ _ _ _ _ -------- _ ------ _ _ _ _ _ _ _ _ _ _ _known to me, who being by me duly sworn, on his oath de- poses and says, that he isr-`.:he_ ��_ _ _ rn _ _ _ _of the B E U'ffl ��pT-SE, 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 following dates: _ A. D. 192 _ �,- and -a pees a er co of which is hereto at- -- / - - - - -= 1 P P.Y - 40 --------------------------- j----------- 1 Sworn tn_ V and `subscribed before me, this _ _ _ '� _ _ _ _ _ day of - _ _�-------- A. D. 192_' Notary Public, Jefferson ounty, Texas. Q AY OIitDUVANCU' Ratifyjnk- and apiarovkng 093 ' d..supplemental ecntraets'a`7r..• .o by and between the ,ciC aumont and Uvalde Poek:Aspir Mpany for the constructidn., na;in street improvements. in Iii , said city; authorizing the Iss' ce of eeven per cent warrant yment of the contract prion a portion of said imprpvemer aessable against said city • levyi, tax to pay the interest on a' oxide suffielent sinking fund. y, the principal of said warran Whereas, heretofore, on the 7 y of lurch, 130.4, the city aumont, acting by and throw; duly all officers, e red into a contract }with Uva] rck Asphalt company, acti rough its vice president and gE al manager, for the conetructi certain street Improvements A for said city, ,whlcli conti, zs duly concurred' in by all i mmissoners of said. city., re:fert And approved by the city cot I of said city, and recorded )cis 1 of the minutes of the co i5sion of said •city; and Wliereas, the said Lvalda " B sphalt -companv has agreed We pt In payment of that 'oortioi id street- improvements which *essable against said city, lega sued seven per rent. warrant .id city, and the following supe ental contract has this day bi ttered into ]7y and between s ty of Beaumont, and the Uva ock Asphalt company, to-wit: SUPPLEMENTAL CONTRACT he State of Texas, ounty of Jefferson. .. The agreement, entered into its the .... day-of April, 1934. ad between the :city of Eeaumc etcas, hereinaftertermed ": fty" and Uvalde' Rock Asnt rmpany, hereinafter termed "C -actor,' is made supplenlentas° id as a part of contract ente Ito on the-77th day of M-irch. V Y Paid: hetwe-n the parties hers IT TESSETH: The City agrees to issue, and intractor agrees to accept leg, :sued warrants-of ,the citY eamnoitt, to evidence the port f the cost of the street imprc rents coverecl by said cont, hich is assessable against ity; said warrants 'to be in om4nation of $1.000.00 each. 'be 'IT seven per cent interest, hall be due and payable seri 99:i to .1939; inclusive; tie 6 partied Liereti5 'ftirftiet 'a`s hat the amount of warrants, co Pled shall in no event exceed eirregate of ihlrty-*Five thous Said warrants shall bP del'iIN o contractor in installments aymi nt of r• aims covering a omplPted, after, such claims t een duly -audited and-allowed he city comrhi,sgion, a9 proviclpe pctdo.n "n of the original cortr In tn.stimnnv whoreof, the cit, 3eaumont has caused these p nts to be siailPd' by the mayor .ty manager, and attested by ity clerk, Anil the T'vslde 'F r9phalt cnmpaw" 11,19 causer% ti iresPnte to ba signed. by its aresident and :general manwrolr, tte5tPrl bv- tta crcrPtsrv, this day of Anril, 1Q"4, CI r F 017 BEAU711ONT, TENA, By . . . MVT a .. .city Mans Attest: UVnF,F POCK ASPHAL (`()MPANT. 'By Vice and Cee Manager, Attest: 5ecretar 1Ton ;Eher�e _fore, be it nrda,ne eau ant Uvalde Rock Asphalt company, an hereby ratified, approved, con firmed and adopted as the act ani contract of said city, and the con tract price -for that portion of th street improvements covered b., said contract which is assessabl( against said city, is hereby read( and declared to be the lawful debt Of the city of Beaumont, Texas, Section • ll.. That the contracl price, under said contract, for the Portion of said street improvements assesable against said city, in the judgment of the city engineer and the said Uvalde Rock Asphalt com- pany is thirty -fine thousand dollars (35,000,00). Section IIZ. That warrants of said city, to be called "City of Beaumont - Street Improvement or street improvements In and for said city, under said contract, as i' sessable to said city, described as follows: (a) Said warrants shall be numbered from one (1) to thirty - I i five (35) inclusive, shall be of tne. denomination of one thousand dol - i lars ($1,000.00) each, aggregating thirty-five thousand aollars ($35,000.00). _ (b) They shall be dated the ist day of J une, 1924, and shall becoe due and payable serially as followsmr Date of Warrant Nos, Maturity Amount 1 to 7 inc,4June 1, la25..$i,000.00 8 toric. .June 1 1916.,$7,000.00 f 15 to 21 inc..June 1 1927,.$'I,000.00 22 to 28 i1rc.,June 1 192b..$7,000.OU 29 to 35 inc.-June 1, 1929..$7,0VV.U0 (c) said warrants shall bear in- terest from date until paid at the rate of seven per cent (79. pe annum, payable semi-annualiy o the lst' day of June and 1st day Of December ,of each year, whirl . interest shall be evidenced by con Poll attached to each of said war }'ants. Past duo interest shalI,bea :1< i 'f 9 matetruyy until pai" of 1 rat Of, Per annum. seven pet cent'( (d) Principal and interest o said warrants shall be payable i lawful money of the United State of America, at the National Cit Bank of Ne1v York, New York, upo presentation and surrender'of war (e) Said warrants shall be rants or proper coupon, tl6 signed by the mayor, countersined g a by the city 'manager, attested by at( the city clerk, registered by the s director of finance, and the seal ofd�`` 4 said city shall be Impressed .poli V each of said warrants. Fac simile, �a signatures of the mayor, city man - and ager and 'city clerk may be litho -I graphed upon the Interest coupons,i Section IV. Said warrants shall° fi be in substantially the following t form: {t No. $1,000.00 d TTT' UNITED STATES OF A11Eg,ICA V THE STATE OT` TEXAS, e' ii COUNTY Ob` JEFFERSON. is y CITX OF BEAUMONT STREETar iHiPROVFMENiT WARRANT be UFALDL ROCI{ ASPHALT COBE -em A PNY SERIE$ The city of Beaumont, a munici-•all j PaI.corporation in, the county oftedl Jefferson and state of Texas, underaed• and by virtue -of a valid and sub -d of Sisting eontraot, is Justly' indebted, on to Uvalde R_'ork Asphalt Company, . its assigns or bearer, in the. prinel- n pal sum of ON19 THOUSAND DOLLARS x — ($1,000.00)vt in lawful rnoiley of the Tlnited' _ States of Alnerica together with Interest thereon, from date hereof until paid at the rate of seven- per centum (j%) per annum; ineerest Payable semi-annually on Elle Ist dap of June and let day of b9cem_ ber of each Sear; both principal and interest. payable at the National City Bank of New York. New York, .pan presentation and surrender of warrant or proper coupon; and the director finance of said city is hereby auuthorized, ordered and di rected, to pay to the said Uvalde 11,001, Asphalt Company, its a:ssl ns � or bearer, at t'he. said bank, on tha lst 'day of Juc, 192.., the slate of maturity of this warrant, thSU m e said ($11 of one thousand' bollars ($1,000:0.0),'In full settlement.nf the indebtedness hereby evidenced, ont of and from 'tile moneys belorl -Ing, to the special "Street jiarrant Fund .No, —_. , - Of assesced and ereatedi Yori thatevied, pose, pur- Tlti9 ward—, IS .one of a Series of 1 thTM,,jf1 Warrant i lst dayVc"of ut e, la2.. the'i maturity of this warrant, ti I of One , thousand i ($1,000.00},'In full settlement t Indebr4dne.hereby evidence of and from the moneys beh to e the spcial stEeet tiff ]A'U, No. , of Sold nitV, assessed and created for tha POP". Tkis warrant is one of a sai thtriy-five (,) 'rarrants, nun consecntiveTy from one (7 thIriy Ptve (�) inclu:;lve, of tl nomination of one thousand d ($1,000.00) each, aggregating, thousand dollars ($g, p, IRS"" for the purpose of evi 1119 the Indebtednest+ due h. 1J city oP Beaumont, Texps tc vnide \Rock Asphalt co 'Pan' asgigns or bearer, for the con= tion of street fin provementI it for said city , in ac� orcdance C On tract bet[l'I en 'o. city ce company. under an l cl c rad ,cin charter of -1a id city, ant Constitution and laws of the 1OF Texas, and in nvuance o ordinance passrs ed rs the commission of ti 'i eity of I3 moot on the ... day of .4nri1, q which is recorded in Book na>;Pq et sec hof said commission, of the min C The date of this warrant, in fortuity with the ordinance nl mentioned, is Jtrpe 1, 194; an is hereby certified and recited all acts, conditions and things riuirod to be done precedept to In the issuance of this u arc; have been properly one, have h m nened and been performed !n re '.-lar and due time, form astd ane renuirecl liv law, aan n total` indebtedness of ea d c y, cluflingr this ararrant,.dnea t no ceede the constitutional, i, no rtr or charter Limitatiat on, It is specially agreed that past clue interest hereon shall Nnterest at the rate of 7% per tum from maturity until paid; a f this -,varrant, or any interest cc )on hereto attached, is not paid llaturity thereof, and same )laced in the hands of an attorn Or collection, or collected by leg irocess, the city of Beaune grees to pay 10% additional he amount of principal and irate st then dlie, as attorneys' fees. In testimony whereof, the city leauinont, Texas, has caused i orporate seal to be hereto affix( nd this warrant to be signed 1 S mayor, countersigned by its ci Manager, and attested by its et Irk, as of the 1st day of Jun M. shed to eachof satu warrant All be substantially as follows �. .... On the 1st day of 12^_. e city of Beaumont, in Jefferso aunty, Texas, will be justly iia bted to Uvalde Roci; A�fhal uapany, its as,,jguS or bearer, i e sum of thirty-five ($35.00), b rtue of a contractmade: by sai ty with said company: clid th rector of finance is. hereby auth •)zed, orderedand directed to pa said company,,, its assigns o arer, out of and from the specia ltrect Warrant Funu No. said icty, on said date, at th ttional laity bank of New Yorl :w York, Said amount; the Sam ing six months' interest clue sai mpany, its assigns or bearer, o; lity of Beaumont Street improve ent Warrant—Uvalde Rock As salt Company Series, No.... .ted June 1, 1924, to which thi upon is attached and is a pat ­ i.ty Clerk. Countersigned: • .City•9lianai;er. Section V. Said warrants shall b xecuted and delivered to sal valde - Rock Asphalt company i nstallments as follo;vs: On certificates furnished by th ity engineer, of work complete rad material furnished and tnspeci d in accordance with contract, s rovided in paragraph 26 thereof; icing understood that no warrain: hall be executed or delivered ei ept to evidence ,4ndebtedntss du y said city to said Uvalde Roc tn sphalt cotupany, as shown by sue ood that when such certificate estimates have been duly audite allowed. by the city commissic of said city; it being further undei stood that when such certificate have been audited and allowed, on] 90% of same shall be paid by tt issuance of said warrants, the rf maining 19% to be paid upon fin: nmm�letinn an 1 n.crentanca of 5ai City Dlanager, Beaumont, Tex Attest: City Clerk. . ....... . Registered this the day , 1924. Director of Finance, City o.", Beaumont, Texas. The form of interest coupon a tached to each of said warrah shall be substantinlly as follow No. $30.( On the 1st day of „ 192. the city of Beaumont, I. Jeffeiso county' Texas, will he justly i'i debted to Uvalde bock Aspha company, its assigns or hearer, i the sum of thirty-five ($�u,QU ), b virtue of a contract- made: by Sal city. with =aid Company, and th director of. finance, is: lterPhy autli prized, ordered and directed to pa. to sn_id company,., its assigns o bearer, out of and from the specia "Street Warrant Puna No. of said icty, on said date, at the National City Bank of New York New York, said amount, the sante being six months' interest due said compan ty, its assigns or bearer, on y of Beaumont Street improve - meet VParrant—Uvalde Rock As. phalt Company Series; No.... ," dated June1, 1994, to which this coupon is attached and thereof. is a vert Attest; • City Clerk. . ' . • •' Countersigned; Mayor. Section .V. Said. Warran sll Manager. executed Uvand delivered to said ,,,aide Rock Asphalt company in tallments as follows: On certificates furnished by the City engineer, of work completed and material furnished and Inspect- ed in accordance with contract, as rovided in paragraph 26 thereof; it Bing understood that no warrants hall be executed or delivered ex - 'Opt to evidence ,indebtedness due S said city to said Uvalde Rock phalt company, as shown by such tood that when such certificates r estimates have been auly audited nd allo"wed by the city commission f said city;'it being further under- tood. that when such certificatee ave been audited and allowed, only 0010 of same shall be Paid by the suance of said warrants, the re- aining 1p% to be paid ilpou final mpletion and acceptance of said reet improvements. Section V1. It is further ordained at a fund be and the same is ereby made and created and shall e set aside outof the ad valorem fixes lwied and collected by said tv, and designated "Street im- 'ovement Warrant Fund No, call behiused ely to fund, when COIlected, I said warrants apnd theie interest ereof at maturity, and pforrIn`ip o Iter Purpose. n° Section ZTiI, That to create said I'd to pay the interest on said crrants••and provide a sufficient king fund to Pay the principal :reof at maturity, a tax of and at rate of two and one-fourth la al rs v(2val on each one hundred ,perty in the tauation Of all taxable city of Beaumont is •eby lel•ied for the current year I so much thereof as shall be essary for each succeeding Year Ile said warrants or any of them outstanding, and said tax shall annually assessed and collected applied in the purposes named. asses by the affirmative vote of members the 6th daof the commission on Y of May. 1924, 119ned) T. N, WHITF,HiTR.ST, Aiayor-pro Tem•