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HomeMy WebLinkAboutORD 6-EAN OLIN UTCE Amending an. Ordinance entitled 'FAX]. Ordinance authorizing and directing the: issuance of serial bonds of the City- of Beaumont, bearing interest at the rate of 5 ,per cent per annum, interest payable semi -manually, in the sura of One iivaadred and nifty Thousand Dollars (('150,000.00) to be issued :for t1M Uvr_pose of construction and repairing of public, free school buildings and the purchasing or otherwise acquiring of the necessary grounds therefor; providing for the levying and collecting of the necessary tares to pay the interest and create a sinking fii_nd for the redemption of said bonds, and, providing that said ordinance shall take effect on the date of its passage:" so as to change the tam rate and the place of payment of said bonds, so that said Orainacc as mended, shall be. aixff. read as follows A11 Ordinance authorizing a nd directing the issuance of serial bonds of the Cit; of Beauin.ont, bearing interest at the rate of 5 per cent per annum, interest payable semi_-ar�ivall.y, in the sLun'of One riundred and Fifty Ihousand Dollars (; 150,000.00) to b e issued forthe pu ����cs e o f c onstruct ion and repairing of public free school bu ild iiZgs and the -purchasing of other Elise acquiring of the necessary grounds therefor; providing for the levying and collecting of the necessary taxes to '0ay the interest and create a sinking :fund :for the redemipt on of s aid bonds, and, eoealing all ordinanc es in conflict herewith: -r�r o-iid ink', that this ordin ,.nce shall take effect on the date of its -passage: on the 12th day of _.ebruary, A. D. 1924, a-. ordinance was duly passed by the affirmative vote of all the mexab ers of the City Commission of th City o f Be a,Lmlont, whereby a bond election ,:1as ordered to be held in said City on the. 18th day of 1:1arch, D. 1924; and i17 =IH71n �1, due. notice of said election -,,Ta.s given in the manner and Tor the length of time reo-ai.r ed . by ls:vz ; and .!N �'•_'�i i, i %l said election held in the City of BeaUlilont on the 18th dad, of T. arch, A. D. 19424-, the. voters o-_'- the City of Beaumont qualified to vote at said election did authorize the City Oonmission of the City o -.i Beaumont to issue bonds Cz said City, payable serially in From one (_) to forty (4 0) years from date, to bear interest t at the rate of :five (5) per cent p e a alum, int el est payable semi- a7azually, said bonds to .be in tide f 110a�ing, amount and the money to be derived therefrorl to be used for the follo7,-Ting -purposes, to For the construction and repair of public free school buildings and the i?urchasing or otherwise acquiring of the necessary grounds therefor ................ ..: 1502000.00 AND :UT :i7�ia, it i s deemed expedient and advisable at this time to issue bonds in the amount nand for the our-ooses above set forth, under and by virtue of the authority conferred by said election of date 1.1'a,rch 18th, 1924; and IIS?nS, the public free schools are in need of ir.rledia,te repairs and the school child y en. I.re ir_nproperly housed and have not sufficient space available for class rooras creates an im-,�er- ative 1oublic necessity reruiring this cr_.dinance to take effect ir.�rnediately as an emergency ifaeasiace. I 1 2 SECTION 1. That the City of B'.ea-Lnont shall issue bonds, as here J-_nafter described, for end on behalf of and upon the credit of the City of Deaz7mont, to borrow to the e�rtent of ONE 1-1UND-R« t 10I2 -TY TLOUSA-100 DOT,ia-AIRS 0)150,000400) to be devoted to and expended for the follov7uing -ournoses, to wit: Far: the: construction and repair of public free school buildings mad the marchasing or otherlwise accluiring of the necessary grounds therefor. That said bonds orovid ed for herein s hall be and are is sued usider and by virtue of the Constitution and laws of the State of Texas and the Charter of the City of Beaumont adopted the 30th day of December, D. 1919, and the po-vJ.er and authority granted by sections 18 and 71 of said City Charter, and all other provisions in said Charter pert4.ining to the issuance of bonds, and by uhapter 147 of the General Ta,:;s of the ,.;tate of �_'exas, Massed by the 33rd Legislature at its regular session granting certain -Do- ers to cities of more than 5000 inh€:zbitanit s, caZd by Chapter 9 of the acts of the regular session of the 37th Legislature, and all other laws of the 15tate of `'exas , pertaining to and authorizing the issu-ance of i.runici.p4l bonds. SECTION 2. That said bond s, in the sum of ONE HUIT:0RID ID FIFTY THOU AITD M LL3 :S 0150, 000.00) shall be divided into forty (40) annual installments, and di all be kno,.;n alad called a 'SCHOOL BONDS") and the .:ayour of the City of 3oaumont is Isereby authorized and directed to have prepared and executed bonds for said proposition as :b llows: ON�� fitTTTDPL L D FIFTY THOUS �d D D OLLt�RS (,",)'150,000,00) School Bonds divided into 150 bonds of the denomination of ONE 'HOUS�--NJ DO.L 4AIRLS (:"1000.00), , numbered 2-c om one to one hundred -at fifty (150) inclusive, and payable as follows, rewpeetively: - 0 _3- 0 Nos: 11 to 14 of X1000,.00_ each payable. on 1st day of inlay, 1928. Nos.: 15 to 17 of ` 1000:00 each payable on 1st day of i:iay! 1929. Nos:. 18 to 21 -of X1000.00 each payable on lst day of I, ay, 1930 Nos. 22 to 24 of ."1000.00 each payable on 1st day of L'iay, 1931 Nos: .25 to 28 of ?1000.00 each payable .on 1st, day of, May, 1922 Nos. 29 to 31 of X1000.00 each payable on lst day of !Jay, 1933 Nos. 32 to .35 of 4;31000.00 each payable on 1st day of 3.Iay; 1934 Nos. 36 to 38 of Q1000.00 each payable on 1st day of 1,14ay, 1935 Nos. 39 to 42 of 81000.00 each payable on 1st day of Kay, 1936 Nos. 43 to 45 .of ,;;1000.00 each payable on lst day of Id -Fay 1937 Nos. 46 to 49 of 6,"1000:00 each payable on 1st day of Tviay 1938 Idos:. 50 to 52 of X10000,00 each, payable on 1st day of id -ay; 1939 Nos® 53 to 56 of X1000.00, each payable on lst day of 'Jay, 1940 Nos. 57 to 59„ of: 4,1000400 each payable on 1st day of :iay; 1941 Nos. 60 to 63 of 010000-00 each payable on lst day of.Ilay, of 1942 Nos. 64 to 66 of y 1000. O each payable, on ist day of Kay, 1943 Hos. 67 to 70, of '1000.00 each payable on 1st day of 1;iay, 194 Nos. 71 to 74 of .1000.00 each payable on lst day of Zlay, 1945 Nos. 75 to 78 of ;1000.00 each payable on is t day of I. -Tay, 1946 Nou. 79 to 82 of- :;;1000.00 each, payable on 1st day of lvlay; 1947 Nos. 83 to 86 of ; 1000.00 each payable on 1st day of Liay, 1948 ITos. 87 to go -of. @1000.00 each payable. on lst day of Irayf 1949 Nos. 91 to 94 of 51000:00 each payable on lst day of !;Iay 1950 Nos: 95 to 98 of �0'1000.00 each payable on lst day of 1,fay, 1951 Nos. %9 to 102 of $W00.00 each payable on'lst day of I++;Iay, 1952 Nos: 103 to 1.06 of 81000.00 each. payable on lst day of May, 1953 Nos. 107 to 110 of 5%1000.00 each payable on lst day of I:, -lay, 1954 Ieros. 111 to 114 of 01000:00 each payable on 1st day of IGCay, 1955 Nos. 115 to 118 of 3,1000.00 each payable on lst day of.1Vlay, 1956 Nos. 119 to 122 of 531000.00 'each payable on 1st day of May, 1957 Nos: 123 to 126 of X1000.00 each payable on lst day of Lay, 1958 Hos. 127 to 130 of ;;;1000.00 each payable on lst day of -;;ay, 1959 c Thos. 135 to 138 of ``)1000.00 each--pa,yable on lst day of I.iay, 1961 Too. 139 to 142 o:f`)1000.00 11 each papable on Ist day 1962 Hlos. -143 to 146 of `,1000.00 each payable on loot day of L -Logy, 1963 I,Tos. i4-7 to 150 of `1000.00 each payable on ist 1 -ay of 1964. Said bonds to be paya.ble in la: ful money of the United States of America and each dated the lst day of i. ay, 1924, each bond to bear interest at the rate of live (5) per cent per annuzil, :interest 1:)ayable seilii--am-iu_ally on the 1st day of 1:I -.y and the lot day of Ilovember of each year, according to the. tenor of the interest co -moons to be attached to said bonds. The Hayor shall sign said bonds and they shall be counter signed and attested by the City Clerk and -registered by the Director of the Bepartriient of 1,1inance, and the seal of the City shall be iripr.essed upon each one of them. The coupons shall be eNccuted with tlne lithogra hed sip -,natures of the 1.iayor and City Clerk,. Said bonds and interest coupons shall be payable upon p:cesentation and stiurender at the o -mice of the Director of the Department of 11inance of the City of Beaumont, or at the office of the National City Bank of Nevi York City, Neiz; York. S"'PuCTE-OH 3t" The bonds and interest coupons above i:)rovided for woon their :ince shall be substmitially in words and figures as follows, POITU CP BOHD. NO. 1 LTItfIT U) S�Jt?i.T `iS OF 2L*'�j?1_C A Ci1000.00 STATE 011 TEXAS CITY JP Bal�T.iOITT SCHOOL BOONDS l O.:. AILL 1:.`L7i BY =ESE FRESr1'TTS: That the City of Beaumont, a municipal con)orLtion in the County of Jefferson, State of Texas, hereby aciaao' ledges itself .n nary a-nrl -'nr vn1»r.rl -i,onnivarl i.o r4l)T nrrmi raq 1.n n -TT ..n 'ho ror s�. at the rate of five per cent (5%) per 'annum, payable semi-eainuall. y on the l st day of Iday and the 1 st day of: November a .f each year, in- 1milrful money o.f the United States of America, as evidenced by and upon presentation acd surrender of 'the annexed interest coupons as.they severally become due. Both principal and inter- est of thi s bond are payable at the office of the Director cE: Finance of the City of Beaumont, or at. the_offiee of the: National City Bank of ITew York Cita, New York: This bond; is one of- a series of" 150 bonds of the .denomination of WE THOUSARD DOLLARS (j,�"10.0a.00) each, known and called "SCHOOL BOITD3 of like 'tdi.or and date-, except- as. to maturity, numbered from one (1) to one hundred ana fifty (150) inclusive, 'aggregatirg in amount ONE HUMPUD AND FIFTY ,THOUSAND DOLLARS ($$50,,001 0.00) , said bonds. issued by,the City of Beaumont,for the purpose of making permanent city improvements, to wit; For the: construction and repair of public free school buildings and the ptr chasing or otherwise acquiring o -f the necessary-'grotiuzd s therefore Said bonds issued under and. by virtue of', the Constitution and laws of the State of Texas, md. the Charter of the City of 'Beamont adopted the 30th- day of Decmi. ber, A. 7 1919,, and the pair, er and au'ahorit.Y granted by Sections 18 to 71 'of said -City Charter, and all other provisions in said Charter Pertaining to th,, i ssuanee ofbonds, and by Chapter 147, of the- General 'Lavrs of the' State of Texas passed ty the 33rd Legislature at.' its regular session, €grantiiqS--,- certain porters to cities of more thy- five thousand inhabitants and by Chapter 9, .acts of the Regular Session of the 37th Legisla- ture and all other laws of the State of Texas pertaining to and authorizing: the issuance of limnicipal bord's, pursuant to an Ordinance duly adopted by the City C'bnmission of the City of Beaumont on the 12th day of February, 1924; and an election on the 18th 'day of IVIar ch, 1924; and a, Resolution of the City Com- %7 4 -6- 19ax-cht 6- 19ax-ch, 1924 declaring the result.' of said election, and in pursuance of an 0-rdinmce duly and regularly passed by the City CommisEi on of the City of Beaumont; on the 29th day of � April., A. B 1924, and of record on pages 28 et seq. , volume of the Ordinances of the , City of' Beaumont. The date of: this bond is 1st day of Ilay, 19.24, and it is hereby certified, recited and declared that all acts, conditions and things required to be done and precedent to and in the issuing of these bonds have been properly done., have hap -p ened and been p erformq d in regular.aild due form as renuired by lalgvri and that the total indebtedness to the City including the total indebtedness contracted by the; issuance of these bor:d's, does not exceed the constitutional or statutory limitation. And it 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 issue of bonds; together with the rate of tax existing at the time. of the issuance of these bonds, is 7,17ithin the lindtations of the Constitution ana lavas of the State of 'Texas; and of the Charter of the City of Be mxmont 4 �' ITIT SS.FIIE_REOF; the City of Beaumont has caused this bond to be issued and signed by its Llayor, countersigned and attested by its City 03-erk, registered by the. Director of brie :Departilent of .Finance,' and the corporate seal of said City to be affixed thereto, this; .the 1 day of lay, 192'4. �. (Signed) Tvlayor of The ,,,I'Uy of Bea --mon Countersigned Attested: maned .and � �e,� ped: Ci cy Cler , o .i he city OT - Beaumont, Texas. (S E,IL ) _74_ FOTMK 01? `COUPON On the ls.t day of Novemb er, 1924, the. City of Beaumont , State of Texas; will pay to bza-rer at the office of the Director of Finance of the City of Beaumont; or at tl-- office of the Rationa 1 City Bank of Nv.:. York ' City, New York, DOIL&RS ($25.00) lawful. money of the United States of America, being six months' interest then due on its School Bonds dated 1 day of %:iay,. 1924. NO. 1. ATTEST: City Clerk of he City o:e Bea-Lunont , Texase Mayor, C i cy of Beaumont, Texas. SECTION 4. It is fur-t1m-r ordaiae.d that the 1'layor be authorized mxl: he is hoteby d- roc`t-ed'to. tame ­`and have charge of the above described bonds, -..pending theme investigation by the 111ttorney General of the State of Texas' and -upon their approval and registration he shall proceed to sell the, same at no less than their face value -and accrued interest, all public or private sale, and the proceeds of; such sale shall be deposited with the: Director of the Department of .Finance of the City of Beatimioitt. The proceeds of said bonds shall be used for the purpose of making permanent city mmproveraents, to 'Nit: . For the Construction and repair of public free school buildings and the purchasing or other. ise acquiring of the necessary grounds tharefor.•. . . . SECTION 5. It is further ordained that for the purpose of paying the inter est on said "SCBOOL BONDS", as well as the various install- ments of principal, as the same shall respectively mature, there 5_0 61 on all prop erty in the' City of Beaumont sub j ec t ta. t axation, ( save and except the territory belonging to the South Park Independent School District and Common School District No. 5 c=T_ionly knov�m as the 'tp MICH SCHOOL"), an ad valorem tax of -�� on each One Hundred Dollars (,�?100.00) valuation of all taxable property in the City of Beaumont, and the same shall be so annually assessed and collected and applied,, and said "tax, or so much thereof as may be necessary, is hereby levied for each year hereafter while said bonds, or any number tho-reof, are outstanding, and ti -.e sayae shall be annually .assessed collected and applied to the purpose named. All ordinances azo parts of ordinanc:es and all r esolutions. and parts of resolutions inconsistent for the provisions of this ordinance are' hereby rescinded and repealed. This ordinance shall take effect on the date of its passage. Passed this the �i� day of A. D. 19249 by the affirmative vote of all members of the City Commission of the City of Beawmnt. Approved this day of A. D. 192:.4. _ � r Iia r 67 the. C- iTy of B e a umon , as. ATTEST: City Clerk. -- The State of Texas, Counttp of Jefferson i - 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 is the- -�` _ --`_=`�- �l _ _ _ of the ISE, BEAUMONT JOURNAL, a newspaper published in said county; that a copy of the within and foregoing was published in sai newspaper, such publication being on the following dates: _ _ _ _ _ _ _ / ----- _ .A, D: 192/ _; --and- a -newspaper_ copy of which is hereto at- _ ________________ __________________ Swornl.to- and subscribed before me, this _ _ - _ _ _ _ - — - _ _ day of ----- -------- '_ _ _ _A. D. 192 ______________ _____ Notary Public, Jefferson Co nty, Texas. °159 " e tho from one to Bolla ea intooY in eTe�, togG ' .the S, _ .Nlcn�.. i of bon eX'istin at bonds. i stitution xo oon an rdl+ "ap a0)n & d� fiftY.gollo� s.' re' of uan� itaf, tllesoftia ®e T f no00 nnm iss tions og eau' C'Lty Ls is o e • hu anddPayahle`" as-�iaY-,, 'eaOS: tarid1laR's, of till, f the of chart the_boRcl to X' olusivvelY: 1000.00 pay- sPNos. ° of the hereof. m . ised bylit% rnaYor, 1 lwt daY Lp00.00 ea 26. able on to 7 of vlay each Pa"�' In'.WitnP951, Beaumont d si9n�da- a✓—�' , ly r7osori 1st daYof..$1000.001922. bo_iss�ed ed able _ 10 .o MaY. _ nn- each - 0 .x Amending an Ordinance entitled "An Ordinance authorizing and di- recting the issuance of serial bonds of the City of Beaumont, bearing interest at .the rate of 5 per cent per annum, interest payable semi - 'annually, in the suni of one hun- dred and , fifty , thousanddollars ($150,000.00) to be issued fur the purpose of construction and repair- ing of public free school buildings and the purchasing or otherwise acquiring of the necessary grounds therefor; providing for the levying and collecting of the necessary taxes to pay the interest and create a sinking fund for the redemption of said bonds, and providing that said ordinance shall take effect on the dateof its .passage;" so as,to- change.-the tax -rate and the place 'of payment of said bonds, so that . said ordinance as amended, shall be and read as follows: An Ordinance authorizing and di- recting the issuanoe of serial bonds of the City cif Beaumont, bearing interest payable semi-annually in the sum of one hundred and fifty thousand dollars ($150,000.00) to be issued for file purpose of construe - tion and repairing of public free school buildings and the purchasing or otherwise acquiring of the, nec- -essary grounds therefor; providing for the levying and collecting of the necessary taxes to pay the in- terest and create a sinking .fund for the redemption of said bonds, and repealing all ordinances in conflict vas ell e n the Ieaa tat anrTg'th - of LEGAL NOTICE Nos. 6:7 to 70 of $1000,00 each payable on 1st day of May, 1944. Nos. 71 to 74 of $1000.00 each payable on 1st day of May, 1945. Nos. 75 to 78 of $1000.00 each payable on 1st day of May, 1946. Nos. 79 to 82 of $1000.00 each payable on 1st day of May, 1947. Nos. 83 to 86 of $1000.00 each payable on first day of May, 1948. ' Nos. 87 to 90 of $1000.00 each payable on 1st day of May, '1949. Nos. 91 to 94 of $1000.00 each Payable on' 1st day of May, 1950. Nos. 95 to 98 of $1000.00 each payable on 1st day of May, 1951. Nos. 99. to 102 of $1000.00 each payable on 1st day of May, 1952: Nos. 103 to 106 of $1000,000 eaoh payable on 1st day of, May, 1953. Nos. 107 to 110 of $1000.00 each payable on 1st day of May, 1954. ' Nos. 111 to 114 of $1900.00 each payable on 1st day of May, 1955. Nos, 115 to 118 of $1000.00 each payable on 1st day of May, 1956. Nos: 119 to 122 of $1000.00 each payable on 1st day of May, 1957. Nos. 123 to 126 of $1000.00 each payable on 1st day of May, 1958. Nos. 127 to 130 of $1000.00 each payable on 1st day ofMay, 1959. , Nos. 131 to 134. of $1000.00 each payable on 1st day of May, 1960, Nos. 135 to 138 of $1000.00 each Payable on.lst day of'May, 1961. ,Nos. - 139 to 142 of $1000.00 each payable on 1st day of May, 1962. Nos. 143 to 146 of $1000.00 each payable on 1st day of May,.1963. Nos. 147 to 150 of $1000.00 each Payable on 1st day of May, 1964. Said bonds to be paid in lawful money, of ' the United States of America and:, .eaoh dated the 1st day of May, 1924, each bond to bear interest at the rate of five (5) per Bent per annum, interest payable semi-annually on the 1st day of May and the 1st day of November :)f each year, according to the tenor of the interest coupons to be at- tached :to said' bonds. The :mayur_slaall=sign said.: bonds and"they shall be counter -'signed and attested by the city clerk and registered by the. director of the department of finance, and the seal Df the city shall be impressed upon each one of them. The coupons shall be executed with the litho- graphed signatures of the mayor and .city clerk. Said bonds and in- terest coupons shall be payable Upon presentation and surrender at the office of the director of the de- partment of finance of the City of Beaumont, or at the office of the National City bank of New York ,sty, New York. SECTION 3 The --bonds and interest' coupons above provided for upon their face shall he substantially in wofds-and • 1924�andhe mu'hatY the City rriaese mese tire- of said J,ffe l °f B'eauuio'Itnts: the Haan elee- of Jefferso Corpporatiou to a " til ereas In tin re9uiredaby for luewledoes itse p to h sCheruune- here_ L oPai yth 1 Rfar�hV Of BA u�i nt Co'On hee] 8th nollars to es honeereby prom s7es City of 4, the voters states mo y sof - $100000) p vote- Ci Bea moat lawful to Ize d electio ne the cit said n qualified of Ma °i America, on thee United Of t BeaaumontCto "sue°n ofathetCity rate og In9date of tInterest On said (1) to Yable serially, bonds of said nufroin,mOne Ist , five (5) bond at the (5)to bear ?rty all - Der interest at theYearsnfrOm date Nov y Of May, le n -annually . cent pOn t, s payable Cent per an rate of five Ino ember of each d the '1st da tiie ) thebi in the yfollo ualw 1 71lyu sold nbo est America° Of Ovid,Un tedr States 'ful to be of ey to ed fo be def 1 Onthert and an eland tintereId sou need by surrender of futhe 1011 an Pc wit r the win efro sev on For the g' Pur_ cipal and become Coupons as they ohePublio freenstruction and re Payable atitte Oest ff of thidue s be Drill- qui sofa the rice shaldin gs acts bank, tOf'firiae of cehe City Off.tBeav eonor $rivary i nk the offf of the N to I t and deadv- is demea00.00 150 This bo ds d is grounds W York °ne Ci p aNew, York to of the Ssue bonds in the a - this time each thousand thdodarominatlOn of itydtonf d by v,rtuell ebo a setnfo th Bonds,, ikeate called ($.; .00) r bv.1sa f fhP�anthor_ onet-(I) to aturity numbere te' 001 eX- id-4one d froi hundred a., a r....n 1 LEGAL NOTICE. Mayor, City of Beaumont, Texa; Attest: City Cleric of the City of, Be mont, Texas. SECTION 4; It is further ordained• .that mayor be authorized and he is he by directed'to'take, and -have cha' of the above described -bonds, pe: ing their investigation, by the torney general of the State Texas, and upon their approval t registration he shall proceed to the same at no less than their f. value and accrued interest, at p lie or private sale, and'the `prose of such sale shall be deposited w the/director of the department finance of the .City of Beaum( The proceeds of said bonds shall used for the purpose of mak Permanent city improvements, wit: For the construction and rep of public free school buildings the purchasing or otherwise quiring of the' necessary grout therefor, SECTION 5 It is, further ordained that the purpose. of paying the inter on saiu "dohool,Bonas," as well the various installments of pi cipal, as the same shall respects ly mature, there is hereby lev for the year 1924, and for each s seeding year thereafter, as long the same may be necessary -to p vide the interest and annual stallments of :principal. -on 8. bonds, on all property. in the C of Beaumont subject to taxati (save and except the territory 1 longing to the South Park Ins pendent School District and Co mon School District No. 5 co monly known as the "Frey, School" an ad valorem tax $.0253 on each one hundred doll; ;($100.00) valuation of all taxa property in the City of Beaunic and -the same-shail=ba"so aifnua assessed -and -collected and- appli and said tax, or so much there as may be -necessary, s hereby h led for each year hereafter wh said bonds, or any number there are outstanding, and the same sh be annually assessed, collected applied to the purpose named. All ordinances and parts of dinances and all resolutions e parts of resolutions inconsistent the provisions of ,this ordinance hereby rescinded and repealed. This ordinance shall take eff on the date of its passage. Passed this the 3rd day of Ju A. D. 1924, by the affirmative v of all members of the City Co mission of the City. of Beaumoni Approved this 3rd day of Ju A. D. 1924. (Signed) J. AUSTIN BARNES, Mayor of the City of Beaumc aaN aau as Saau uuuua, - repealing all ordinances in conflict herewith: providing that this ordi- nance shall take effect on the date of its passage: Whereas, on the 12th day of Feb- ruary, A. D. 1924, an ordinance was duly passedby the affirmative vote of all the members of the city com- mission of the City of Beaumont, whereby a bond election w, dered to -.be held ib sA,a 'sii 18t"` L is 4 and due notice of Bald elec- don was ,given, in the,, manner and for the length of time required by lativ: and a. 'whereas. In said election held in the City of Beaumont on the 18th day of March, A. D. 1924, the voters of the City of Beaumont qualified to vote at said election did author- ize the city commission of the City of Beaumont to issue bonds of said city, payable serially in from one (1) to forty (40) years from date, to bear interest at the rate of five (5) per cent per annum, interest Payable semi-annually, said bonds to be in the following amount and the money to be derived therefrom to be used for the following pur- poses, to -wit: For the construction and repair of public free school buildings and the purchasing or otherwise ac- quiring- of the necessary grounds (therefor ..... $150,000.00 And, Whereas, it is deemed ex- pedient and advisable at this time to issue bonds in the amount and for the purposes above set forth, Under and by virtue of the author- ity conferredsaidelection -o date-AraTc3 'it'" h, 1?9"L'4+s• 8�nc1 Whereas, the public free -schools are in need of immediate repairs and the school children are Improp- erly housed and have not sufficient space available for class rooms creates an imperative public neces- sity requiring this ordinance to take effect immediately as an emer- gency measure. Now, Therefore,' Be it Ordained By the City Commission of the City of Beaumont: SECTION 1 That the City of Beaumont shall issue bonds, as hereinafter de- scribed, for and on behalf of and upon the credit of the City of Beaumont, to borrow to the extent of one hundred and fifty thousand dollars ($150,000.00) to be devoted to -and expended for the.following purposes, to -wit: For the construction and repair Of public free school buildings and the purchasing or otherwise acquir- ing of the necessary grounds there- for. That said bonds provided for herein shall be and are issued under and by virtue of the constitution and laws of the State of Texas and the charter of the City of Beau- -o -at adopted the 30th day of De- cember, A: D. 1919, and the power and authority granted by sections 18 and 71 of said city charter, and all other provisions in said charter pertaining to the issuance of bonds, and by chapter 147 of the General Laws of the State of Texas, passed by the 33rd Legislature at, its reg- ular session granting certain pow- ers tocities of more than 5000 in- habita.cits, and by chapter 9 of the acts of the regular session of the 37th Legislature, and all other laws of the State of Texas, pertaining to and authorizing the issuance of municipal bonds. SECTION 2 That said bonds, in the sum of one hundred and fifty thousand dollars ($150,000.00) shall be di- vided into forty (40) annual install- ments, and shall be known and called "School Bonds," and the may- or of the City of Beaumont is here- by authorized and direoted.to have prepared and executed bonds for said proposition as follows: One hundred and fifty thousand dollars ($150,000.00) school bonds divided into '150 bonds of the 'de- nomination of one thousand dollars ($1000.00), numbered from one to one hundred and fifty (150) in- olusive, and payable as follows, re- spectively: Nos. 1 to 3 of $1000.00 each pay- able on 1st day of May, 1925. Nos. 4 to 7 of $1000.00 each pay- able on 1st day of May, 1926. N". --S to" l0 of $1000.90 each pay- able on l'st day of May, 1927. a,noo.On__each- above provided for. upon their. face A. D 7924. shall be substantially in words and (Signed) figures as follows, to -wit: Mayor of Form of Bond Texas No. 7 3ln^0.00 United State- .9f America State of Texas Citv of Beaumont r}5-�v These Presents: iat the City of Beaumont, a municipal corporation in the County of Jefferson, State of Texas, here- by acknowledges itself to owe, and for value received hereby promises to pay to bearer One Thousand Dollars ..................($1000.00) in lawful money of the United States of America, on the lst day of May, 1925, with interest on said sum from date of this bond at the rate of five (5) per cent per an- num, payable semi-annually on the 1st day of May and the 1st 'day of November of each year, in lawful money of the United States of America, as evidenced by and upon presentation and surrender of the annexed interest coupons as they severally become due. Both prin- cipal and interest of this bond- are payable at the office of,the director of finance of the City of Beaumont, or at the office of the National City bank of New Yoi#c city, New, York. This bond is one of a series of 150 bonds of the denomination of one thousand dollars ($1000.00) each, known and called "School, Bonds" of like tenor and date, ex- cept as to maturity, numbered from one (1) to one hundred and fifty (150) - inclusive, aggregating in amount one hundred and fifty thou- sand dollars ($150,000.00), said bonds Issued by the City of Beaumont, for the purpose of making perma- nent city improvements, to -wit: For the construction and repair of public free school buildings and the purchasing or otherwise ac- quiring of the necessary grounds therefor. Said bonds issued under and by Virtue of the constitution and laws of the State of Texas, and the charter of the City of Beaumont adopted the 30th day of December, A. D. 1919, and the' power and au- thority granted by sections 18 to 71 of said city charter, and all other provisions in said charter pertain- ing to the issuance of bonds, and by chapter 147 of the General Laws of the State of. Texas passed by the 33rd Legislature at its regular ses= cion, granting' certain powers to cities of more than five thousand Inhabitants and by chapter 9, acts of the regular session of the 37th Legislature and all other laws of the State of Texas pertaining to and authorizing the issuance of mu- nicipal bonds, pursuant to an ordi- nance duly adopted by the city com- mission of the City of Beaumont on the 12th day of February, 1924, and an election on the 18th day of March, 1924, and a resolution of the city ' commission of the City of Beaumont duly passed on the 24th day of March, 1924 declaring the result of said election, and in pur- suance of an ordinance duly and regularly passed by the city com- mission of the City of ,b eaumont on the 29th day of April, A. D. 1924, and of record on pages 28 et seq., volume No. 5 of the Ordinances of the City of Beaumont. The date of this bond is 1st day of lvlay, .1924, and it hereby cer- tified, recited and declared that all," acts, ,conditions and things required to be done and precedent to and in the issuing of these bonds have been properly done, have happened! and been performed in regular and due'form as required by law, and that the total indebtedness to the city including the total indebted- ness contracted by the issuance of these bonds, does not exceed the constitutional or statutory limita- tion. And it 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 issue of bonds, together with the rate of tax existing at the time of the issuance of these bonds, is within the limitations of the constitution and laws of the State of Texas, and of the charter of the City of Beau- mont. In Witness Whereof, the City of Beaumont has caused this bond to _be issued and signed by its mayor, J. AUSTIN BARNES, the City of Beaumont, s of one huncreu 6 dollars ($150,000.00) to be ollowing evoted 33rd to and expended for the. sion, Purpose. to-wit: cities For the construction and repair inhab of public free school building's and of th the purchasing or otherwise acquir Legls ing of the necessary grounds there- the for. rovided for and That said bonds P nicip herein shall be and are issued under nanc and by virtue of the oonstitution missi and laws of the State of Texas and the 1 the charter of the City of of eDe- an ont adopted the 30th day ower Mar ' oember, A. D. 1919, and the P city and authority granted by sections Bea 18 and 71 of said city charter, and day all other provisions in said charter resu s pertaining to the issuance of bonds, sua and by chapter 147 of the General reg 5 Laws of the State of Texas; gassed miss a by the 33rd Legislature at its reg- the ° ular session granting certain POW and tt- ers to. cities of more Cher 5OoOf the the p habitaAts, and by pE acts of the regular session of the T r 37th Legislature, and all other ng of of the State of Texas, P tiff to and authorizing the issuance of act f r in nioipal bonds. to !t� SECTION 2 sum of in That said bonds, in thesumbee �t one hundred and (iffy shall be di- an - vided s ($150,000.40 annual install- th meet into forty ( ) th ments, and shall be known and cit called ,School Bonds;' and the may- ne or of the City of Beaumont t hero- th by authorized and directed. to have co isprepared and executed bonds for ti said proposition as 'follows: usand One hundred and fifschoolobonds a dollars (x150,000.00) le divided into 150 bonds of the 'de- le r' nomination of one thousand dollars in ds ($1000.00), numbered from one to 0 s one hundred and fifty (150) in- o elusive, and payable as follows, re- i spectively: t NOs. l .t0 3 f $10 May, 1925. pay a able on lst day of 0o.00 o ly Nos. 4 to 7 of $10.00.00 each pay- ed able on 1st day of 'May, 1926. rr_ Tres g to 10 of $10oo.00 each Pay- r° able on 1st day of May, 1927. each _ 0; � leo 11 -to= 1-'`-. of --$14"" 928. 0' payable on 1st day of May, Nos. 15 to 17 of $1000,00 each payable oh ist day of May, 1929. Laos. 18 to 21 of $1000.0 each u_ payable on -1st day of May, Nos. 22 to 24 ofoi$May0 each h payable on ist day Nos. 25 to '28 of $1000.00 each payable on 1st day of May. 1932. Nos. 29 to 31 ofof$MaY01933oh payable on ist day pavable S2 to on ist day of of $' Mayo 1934- ' 934 each Nos. 36 to 3g of $100o.00each payable on 1st day of -May . Nos. 39 to 42 ofo$NLay01936each payable on 1st day f al Nos. 43 to 45 of $1000.00 each f pavable on ist day of May, 1937. t Nos. 46 to 49 of $1000.00 each payable on ist day of May. 1938. be Nos. 50 to 52 of $1000.00 each 1 payable c1n 1st day of May, 1939. Nos. 53 to 56 of $1000.0o each y payable on 1st day of May. 19 00 e0 Nos. 57 to 69 ofo4$1MOOv. 1941ch pavable on 1st day s Nos. 60 pp 63 of fof iM v�� 942ch payable, ontlst day A7ns. 64 to 66- Of. $1000.6 ,each Legislature ertaln its repowera vto granting of more than five thou acts itants and by chapter 9. e regular session of the 37th lature and all othel to SOf tate of Texas. pertaining authorizing pursuant toissuance anforddi- al bonds, p the city COM ­ onduly adopted by on of the City of Beaumont on 2th day of February, 1924, and election on the 18th day of Marc 1924, and a resolution of the commission of the City of Beau duly passed924declaring 2the of March, and in pur It of said election, and. nla of an ordinance, te city coin- ularly passed by sign of the City of Iseaumont on 28th day of April, A. D. 1924, of record on pages 28 et req•. volt, No 5 of the Ordinances of city of Beaumont- lie date of this bond is 1st day ay, 1924; and itis hereby cer- 2, recited and declared that all s, conditions and things required Le done and precedent to and the issuing of e. havebonds happened n proper ly done, I been performed in regi regular an and e form as required by at the total ndebtedn indebtedess to e s contracted the issuance of ss contracted by ese bonds, does not exceed the nstitutional or stat utor y limita on. recited, certified And it is hereby an declared that the additional tax te vied and made necessary vied in order to provide for the terest and principal of this issue f bonds, together with the rate E tax existing at the time of the ssuane6 of these bonds, is within he limitations of the constitution f dthe�cha ter of the City ofOf the tate of aBeaua mont. In witness Whereof, the City of Beaumont has caused thins m for be issued grid signed by countersigned and attested bdylrecs city clerk, registered by for of the' department of finance, and the corporate seal Of said theels to be affixed thereto, day of May, 1924. . (Signed Mayor ) of the City of B'eaumgnt. Countersigned and Attested: City Clerk *of the .. ity .of .Beau- mont, Texas. (Seal) Registered: Finance°ent of oTastm Director..eaumt e FORM OF COUPON On the f Rd_ c -November, of Tex - the City of " as, Rill Pay to bearer at the office of the director of finance of the City of Beaumont, or at the office Of the National City bank of New 'York city, New York, of . dollars ($25.00) lawful mlsixsix United States of America, months' interest then due on its school bonds dated 1st day of May, 1924 Ivo. 1.