HomeMy WebLinkAboutORD 15-F1�,
AN ORDINANCE-
AUTHORIZING AND DIRECTING THE PROPER OFFICERS OF THE CITY
OF BEAUMONT NAMED HEREIN TO FORTHWITH PREPARE AND EXECUTE
AND ,TO NEGOTIATE AND DELIVER, FROM TIME TO TIME AS NECESS—
ITIES REQUIRE, LEGAL AND BINDING OBLIGATIONS OF THE CITY
OF BEAUMONT, IN THE FORM OF DEFICIENCY WARRANTS, DESCRIB—
ED IN SAID ORDINANCE, FOR THE,PURPOSE OF DEFRAYING THE
CURRENT EXPENSES FOR THE MAINTENANCE AND OPERATION OF THE
SEVERAL DEPARTMENTS OF THE GOVERNMENT MENTIONED IN SAID
ORDINANCE, APPROPRIATING AN -EQUAL PORTION OF THE REVENUES
OF THE CITY OF BEAUMONT APPORTIONABLE TO THE SEVERAL DE—
PARTMENTS AFFECTED, FOR THE YEAR 19261 FOR THE PAYMENT AND
DISCHARGE OF SAID WARRANTS, AND DECLARING AN EMERGENCY.
WHEREAS, The City of Beaumont., pending the collection of
current tax revenues, from all sources, being taxes for the year
1926, is without funds wherewith to pay its current obligations
incurred and.to be incurred for the operation of the several de—
partments of the government, and in order to acquire funds where—
with to defray the current expenses of all departments 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
siad City, and to anticipate and pledge an equal portion of the
current tax revenues of the City for the year 1926.
BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF BEAUMONT:
SECTION I.
That J. Austin Barnes,, Mayor of the City of Beaumont, be and
he is 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 and binding obligations of the City of Beau—
mont, 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 to, "'BEARER", on demand,'bearing 6%
interest from their date until paid, which said warrants shall be and
are hereby secured by the legal and binding pledges and -hypothecation
of ONE HUNDRED AND THIRTEEN THOUSAND DOLLARS ($113,000.00) of the our—
rent tax revenues of the City of Beaumont, for the year 1926, as ap—
plied to the funds of the particular departments and in the amounts
relating to such departments as hereinafter set forth; the said De—
ficiency Warrants to be paid and retired out of the first tax revenues -
collected for the year 1926 for the operation of and application to
!F7-- x7.1 e1
The said warrants shall be executed, negotiated and delivered
as and when it is requisite and necessary to raise money for the pay—
ment of existing obligations, and for defraying the current expenses
for the operation of the several departments of the government, as
hereinafter set forth, untillsuch time as there shall have been col—
lected sufficient moneys from the source 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 above mentioned and apportioned
among the several departments as below shown, a sum sufficient where—
with to pay off and discharge all of such deficiency warrants as may
be so issued and negotiated to the then owners and holders thereof;
provided, however, the total amount of such warrants of this issue
shall not exceed the sum of ONE HUNDRED THIRTEEN THOUSAND DOLLARS
($113,OGO.00).
The said Deficiency Warrants shall be in the following
form, to—wit:—
"The State of Texas, Beaumont, Texas,_
County.of Jefferson. 192_
On Demand, pay to the order of "'BEARER't
DOLLARS
MAYOR . .
To the Dire:ctor'of Finance )
City of Beaumont ATTEST:
CITY CIERK
Countersigned
CITY MANAGER
This Warrant is one of a series of several Warrants authorized
by the City Commission of the City of Beaumont, by Ordinance duly
passed , 1926, A.D., and is payable out of the
This warrant bears interest at the rate of six per cent
per annum from its date until paid.
Each warrant shall carryon its face the name of the
department toY�hich it relates
The particular departments and funds of the City Government,
for the operation of which said funds are hereby raised for the
support, maintenance and operation'of said departments from which
said warrants shall be paid, and the amount to be taken therefrom
for that purpose shall be and are according to the following table:-
Department of Finance - - - - - - - - - - - $. 3,000.00
General Fund - - - - - - - - - - - - - - - "4,000.00
Department of -'-Public Safety - - - - - - - 54,000.00
Department of Public Service - - = - - - - 40,000.00
Department of Public Welfare - - - - - - - 12,000.00:
The -said Warrants shall be duly registered before being
negotiated by the Director of the Department of Finance.
SECTION II.
That the fact that the City of Beaumont is without funds
now to discharge the current obligations incurred for the maintenance
and operation of the several departments of government, without at
once anticipating and pledging ONE HUNDRED THIRTEEN THOUSAND DOLLARS
($113,000.00) of the tax revenues of 1926, for the maintenance and
operation of the several departments mentioned in this Ordinance,
creates an imperative public emergency, necessitating the suspension
of the rule requiring that all ordinances shall be read on three (3),
separate days before passage, wherefore said rule is hereby sus-
pended, and this ordinance shall take effect upon its passage
and signature of the Mayor.
pa.ssed by the affirmative vote of all members of the
Commission this the :1- M day of July, A.D. 1926.
I
yor.
The Sect
Counip of Jefferson
Before me, the undersigned authority, on this day personally appeared------------------
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-----------------
_ ________known to me, 11 }o being by me duly sworn, on his oath de-
poses and says, that he is the_ /C� _ _ _ _
- �------- of the BEAUMONT ENTERPRISE,
BEAN( 1T JOURNAL, a newspaper: published in said county; that a copy of the within and
. foregoing was published ' said newspaper, such publication being on the following dates:
_
--------- A. D. 192_ L� and a newspaper copy of which is hereto at -
to ed.
AN ORDINANCE
AUTHORIZING AND DIRECT-
ING THE PROPER OFFICERS
OF THE CITYOF BEAU-NIOVT
NAMED HEREIN TO . FORTH-
WITH PREPARE-' AND EYE -
CUTE AND TO NEGOTIATE
AND DELIVER, FROM TIME TO
TIME AS NECESSITIES RE-
QUIRE, LEGAL AND BINDING
OBLIGATIONS OF.TbiE CITY OF
BEAUMONT, IN' THE FORM OF
DEFICIENCY 1V.ARRANTS, DE-
SCRIBED IN SAID ORDINANCE,
FOR THE PURPOSE OF DF -
FRAYING THE _,CURRENT EX-
PENSES For, THE MAINTE-
NANCE AND OPERATION OF
THE SEVES:AL DEPARTMENTS
OF THE GOVERNMENT MEN -
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(.� D. •
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Notary Public,AJefferson ty, Texas.
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