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HomeMy WebLinkAboutMinutes - City Council - Regular - 3/24/1924:k:�*-; -t-t **K% -- ;: : ;l*x*a * * * * L7ar. 24th. , 1924. Cit;- Co,rl mis:~ion met in con tirr,,aa.tiln of regul�.r meetin„• of i,_a.rch 13th. �t�- the follo,=ring present; I:u . T r • C , . S r i. ,, ,, r t-Tor Iro-tem, G. Lofe, . or.ir;�•_s o ;ers, J. J)ne ., Leo. ,. i!o __ r l� r, :�. c` IQSey, _t. i. 50�',taerI nit _ttOrnBV _'C' tit'zxi', r`1t7 1':i`°r. C1t1Ze1S commi ttee 5LnO Havrley -zne 2oberts. 7he 1.:a 7jCr Si .ited ti;_ f• 1flE? object Jf ttiie mr,e.tinc- was to Oisc12SS St rii,. sewers -Ind paving. LI":e f0110t";ini2 ll2'^'1n:mce, Z7r---i; -e-,.d ',I1C' T%27ovr--Ci _'` un n i 1,;1s v o t UaiII'.�i;� IT 25; AI? O�ii i?`;I CL orderin' imps over.:erits 7f certeiiz streets nn zr hues i_1 t'2:is Ci ty specifyir— ,he types 01, i'iT1.:rOvements to he had, ei.reoting the engineers to pre. - pare «nc T.- rese)it pl.uns --irti l specifi c-a.tions fcr sucu irr.� -rove men is, gip; ortinrl n,� the cost o - su c , ii-Ar rov e•I".Icn tS o- ii n: t t he pro r•,rt;j o wrjf:' rS -and fi ix ng tic ti'me of a,Ty7- merit anG rate of inte��SL �2ZC. fixiYag saic debt ] 11e21 �:',..i21St the �bxtt•1Yr0 xirC- pert7, yrovicrin{, 'Lira.t the. value of tine >a.butting p-ropc;rt ,-IS imp<roveo, be considered in assessing cost. rovid incz furt7ler tt7 t t action._ sh-.i..11 be in CJ?:fJ%riit�7 '.":7 iL li�ptP.."l 11 of Title 2 i;e:risen St a,tutes o�= 1911 _an^ Oecl �rin�• an Est,. ernerg _:ncy, account of�e ricC�'c;'i.t?� ;`':ar s:yinp. zl'' `.]I' '�Y ''T -'I ._' T !JO_` __.Z S I OP 0 Lti'3�z0C1, TE L * i tz1lae _ ea . Broaaz,Ta_,- 'ror_ the :'asj, Ir'ar. Lin- K :ive. to Sast rror. Line Y A-_,ven.ue. T ' +�clil: T.- Fro the `act Ir0if Line K rive. to east pr0L Line Y =,.tir e nue . 7th.. Sri. - '2ror t12e � Est lroplLine 11. _,ve. to :L;ast. I-ro' . Line � 4 revenue. loth. ST.- From the TVest crop. Line H. :ive. to 211ast Prop Line I avenue. loth. St. -Frorri the 'ilest Irop. Line I :ive. 'V'lest Prop. Line K ..Ivenue Bro adr.,ay - From the West Irop. Line F. give. to S :.nt-u Fe R ailro�ad West Siding. B r o adway From Enact Siding of Sunt_a. Fe to 2,80 ft. East of the East PropertTT Line of ,venue A. 13th.ST. - From East Irop. Line _eve G. to East Pror Line Ivez$x I. 13th.ST. - From ;,est Prop. Line Ave I. to 71est Pror Line .eve K. 16th. ST. -.From VIest Prop. Tine Ave H to '=ast iron Line Ave G!, q ive. - From South Frog. Line 6th. St. to ieor. th :Pror Line T•i_=ain Street. -Ave. - From South Fror. Lire Main St. to North Prop Line Bro ad v ay. ()-Ave. - .From South Prop. Line Broadway to North Irop. Line 19th. Street. M.-.ive. - From South 1=ror. Line 7th. St. to North crop. Line Main Street. M.-_ive. - From South Irop. Line Main St. to ITortri Prop. Line Broafta,y. M. ive. - From So.rth Prop. Line Br.oad,,ay to North Prop. Zine 16th St. ITT. -live. - ++'rom South Prop. Line 16th. St. t) Forth Prop. Line 19th. St. K. l'e. - ��ror-i South fro . Line loth. S-t. t.a ITorth Pro- . Line ( Main Street. �•/ K. -ve. - Frorr: South Prop. Line Kai n S t . to Forth Fror . Line K.-.ive. - lion. aoiith drop. Linn Sroadria, to Uorti1 _'ror. Line 13th. Street. J.- -Ive. - From, Sout•ri Drop. Line loth. tit. to Forth lror-. Line T.i>ain Street. J.-eve. - From South Prop. Line _Broadwav to North Prop. Line 13th. St• I. -Ave. - Frora ITorth Prop. Line loth. St. to Korth Prop. Line 16th. Str--et. H.-.1ve. - From South FroY. Line loth. St. to South Sihin S.an' a Pe R. G.-_ive. - From South lrop. Gine Broad-,,a;T to North l'rnpe-rty Line loth. Stre-t. H. 1ve- - N'rom South Prop. -r.i ne 13, th. St. To ITorth Prop. Line 19th. Street. In th- e City of Lub: ock -a-_°e in urgent need ot' improvement by excavating, grarling, fillin _end paving '-he same, including conecete curb and gutter; -and V1H I?Erj`_', the Cit'T Commission of she City_ of Lubi ock deerns it neces : a.r.y to imt rove aaid streets; .e,,erefore, BE IT OlUi ZIJITEM PY "N CITY COTI -1:71SION Tip TU`00K, THAT • Haatale;r & Roberts, heretofore appointed engineers for the Cit:j of Lubbock to superintenO sai,~ improvement- for the s�air' City of Lubbock, be and are hereby directed to at once; prepare plans and specifications for said im- provements, o.nO file the same with the Cit-T (1ora! -is si-0n. That s aiF improvements shall be of one of the folloi.uinL• materials: TYP EIS 01' I'.-_YE1E1T T; Jertic:al Fibre Prick, Uv-a.lde Rock .Aspb.-ilt, Lock asphalt, imiesitq ,?Ia.rrenite-Bitulithic, or Z`:rillite, on either C ncrete, ,To-ld Gravel, laterbounc T,;I.ocf�d:a-n, or :.lsphaltie C ncrete T77p6 Foundations; Reinforced Concrete , and Plain Concrete. Tiia .- °J (1 gel .ns -anr' s-peci.fic _itions shall set out full-T the dif- :feront `fgateria_l --JI!d +he different classes of wo--k upon which bids will by recelived..,-ThAt'the costs ( incluT'in- plans and specifications) of said improvements shall_ be rain as follows: (a) 'he Cite Of Lubl ock shall_ rani one-fourth of the total cost of s-aid impr. or-ments, exclusive of curbs -.and the portion o L 1mr,-roverlents under or betwee i.he rails .Lnd tr-icts of Stearn railro-ads and two feet of the outside thereof: (b) ifte--, deductin>_- the amount provided 'oi, in Section (a) , property owners -ib ttinr. on s-.tir street shrill ���y three -fourths of the remwinin=_ cost of suc:l im} rovements, except curbs, which shall be p�.id for wholly by the pro "erty or!ners . The pro-norrtion ) L s _ii r cost T-z-r-t.ble by the rroperty owners shall be r�a.ie in six pzrments., the r:irst, v-ithin 30 days of acc- pt'.nce, the b il_mce in k,L,3 4 -zne S yea.rs from d it of :a.ecept-,nce, ?f work by the (:ity, together ,,-ith interest -it the rate of eirzht per cent 1'er annum from ';he d.tte of acceptance, lrroviding th;it s-.i(� assessir;ents may be laid before maturity, -ith accrued interest to the d-ate of '­?yment. That s Li,-' proportion p-a.y_ible by sa,ic-1 prorprt- owners sh-M be °assessed aii Linst their abntting r-roperty, and ag -Linst the o,.,!ners of the same, in=a,ccord`ince with the terms of Chapterjl ii.tle 4; Revised Statutes of Texasof 1911, in accord-ince with what is c�>mmonlT known _IS the Pr.oni: Foot Rule or ll�n, as the frontage of the property of each owner of e-ich ptrticul-�r street is to the whole fronta<•e of prorertyy to be improved on s°a.id p a.rticu.l it street, pro- viding that should the applic it on of this -rule in the opinion of the City Commission be unjust or unenual in any particular case it shall be the duty of the City Commission to arportion -.nd assess such cost in such man: er and proportion as it shall eeem just and enuit-a.ble, cansidering the special be- nef i is in enhunced value to be received by such property and the owner thereof so as to produce a substantial ecua,lit,y of benefits to .an_ Fa burdens imposed upon eacri property and its owner; -ind r-rovidin^ th �t no assessment shall be made until after the notice and he,ring to propertv owners provided by the terms of ehaptQr 11, Title 2L, revised Statutes of Texas of 1911, and the ChartP-r an•' Ordin-ince of the Cityof Lubbock, iff further providing,• that no assessment shall be made si>: ainst any p-ror P,-tV or its owner in excess of the benefits in enhanced v:.lue accruing to such property owner by reason of said improvements. That portion ,,)f the costs r°a.yable by the r`ity of Lubbock shall be payable on I-Ionthly estimates to be made during the progress of the ',xork a,nd the final estimate upon t.h completion _-and acceptance tnerof. (c) Ikll ti lt 7?Ort=i0Y1 .f s-aid improvements lyin'_Z betv,eon or under t.hc rails and tracks of ste_a.r: r:.ilroac.s, --i& two Beet on the outside thereof shall be wh3lly p-iid for by siio steam ra.iltoads in the m-a,n er and at the times specified herein for abutting 7 ropert-T owners. The fact that it is necessa,r T that the nl:ins _Lnd specific,-Iti:Dns be presented and approved ane that the rrelimin�a.ries to the assessment of costs Sao-a,inst the property be ha.d in the u.r-:ent need for stre-t improvement while the weai.her is perriissable, creates an eMer:Tency - nd public neces-ity th i t. the Rule of the Cn step requiring -.n ordin rocs, to be submitted it two serer -1 meetings before yassa=-"e be and hereby is s•?srpneed ind this ordinance' enact- al the meeting of its introciiction. PASSED this the day of 1925. APPROVED this the day of 1925. AT TEST : J. R. Germany, City Secretary Major. City of Lubbock, Texas. "�i`rie laiziitoc' �vzlanche at a meeting of the said Commission., to be held in the Secretary's ofC'ice .it 2 i-. IT. grri1 1-Oth,., 1924. Each bid be a.ccomranied b,7 a certified -eheck as specified in notice to bidders to insure such contractor enter int:; contract and 1 and to be approved by the City, guar-a,nting the per- formance of sric t, work as m°a,-T be a ria,r0 ed to him. Umi,tei .2 txtE �,xRxbxexx22E. , By motion made b-T I:Ir. Jones and seconded bar TI-C. Wo1=fa-rth '.he Cit.' Secretary was authorized to pa-T `he Ci. t ,r Fire Department '�20.00 for dues to i_he --rand Fi ro Marshall . Upon :;otion m!A.de by T,'r. rose --eco__icW by Yr. J-nes passed b7 unatimous vote it vlas ordered `h!it "18,000 o '..7arra.nts for liixht extension. one and one-h_a,l wrate_,� line on .=eve. H was disc is ed anq the matter was turned over to Hr. Rub for final distribution. The following contract was accepted by in°a,nimous vote. Contract and ,t reerrient mile tr:is 19th. d 1- of Idarch 1924 between the United Stites Rubber Comr zn-T, Eureke 'i.re HoF e Dex a:��tment, of Pew Jersey and City of rubl ock, Lub'Cock, Tex -as 500 feet of iar-a,gon ^ra.nd of Fire Hose pre' -sure of 400 rounds per square inch when delivered, at A1.50 r^r foot. F 0 B Lub, ock $750 Terms 12 months 6 per cent; datin fro Delivery. United S t Ltes Rua ber Co., Eureka ?ire Hose De r a,rtment , G. ITcKni;_ht, _crec. _.ef. v There being n'j furtner businesti1 the rri-etin�r ad iourned, ,tend ancj approved t.�is d©�� �'7 of 1924. ri t t y r :T� Secret--, y, t of Lubbock. T:R� Y*or, of IL z ! ocx_ , Tex -is. ORDII1��ItCL 1. City Hall ' City of Lub ock, Texas. I,iarch 24th. , 1924. The Cit. Com,:ission of the-Cit,-;- of Lub rock, Texas, was colivened in re- cular session in the Cit- Hall, in the it`, of Lubbock, Texas, on the 24th. day of Itiarch, 1924, Present, - H. s. Lo e, mayor, Pro `lempore, . S. Posey J . 0. Jones and Geo. C. Wollfarth, Commissioners, and i1 . Germany, Oi ty Seeret�ry, when tce following proceedings, among others were had to -twit: There was presented for pa ss e an czdi__ance entitled, - ` h"'i O DII'i NIC PRO Z 3, ^F 12 =�-i 1 3TT? ?( ;.� ;�1 �",F '7 1% T f`l '.,?.�'.i -. ,r-� ,. 1 T _.^r^ } ., , MDIlr� 0? 1_.� I�.:LC_ 0� SI:� _ H3 C�;I'('i (6,0) I d! ., ?II G .. �'I'" _ FOR `i'Hi, 7;, i ;.T. ,i , n,�: , , ,� _ 1 ' Dllr}.s .,.�-'IT'.. is h QVTl�i D i•. 'T L4 D_',_' ,33 Gti` -'2 _: Cite 05' �" BT_. OCN TEXAS: L: "'IYIITG THE _"\TECZ.:',a.LiY T».X "HEW !.??P',OVIDE FUND TO n.L'ilIR SLID :rnliRAIN' 13 __1' I I.i Y: 16.i D L ;CL t1idG s d Moved by Commissiozie-r nosey, �ecoided b-,. Commissioner Jones, th:-t the ord- i-li-nce be read in full, ldlotiun carried, and the ordin€mnce was ret..d in *u;ll by t :.e Cit. Secret-.rv, Moved by Com:i.i_:sillner Yvolffart :., seconded ,:y Co:ami ;sioner rose., , that the ordinance p&ss its first reading: YZB: Commissioners Posey, Jones & Wolffarth NAYS: None. ,notion Carried. L-loved by Commissioner Jones, seconded by Commissioner 4olffarth9 th�.t the rules be suspended aad the ordinance be placed on its second reading by caption: YEAS: Commissioners Posey, Jones ". Wolff�_rth. 1AYS: None. Motion Carried. Loved by Commissioner Posey, seconded by Commi._.sioner Jones that the ordinanc'_: be I.laced on its third and final reading by caption: YE:.S : Commissioners Posey, Jones & Wolff�rth idLYS : None 1,1otion Carried. Loved by Commi-:sionc-T Wolffarth, seconded by Commi-sion r rosey, that the ordinannce be finally passed: YEAS: Commissioners Posey, Jones :� dolffa.rth. NkY'S : iione. The Mayor then declared the ordinanc-, finally adopted. The Ordihanc e follows: l ORMANCE NO 25 . AN ORDMUCE PROVIDING 20H THE I33Uh14CE OF SIX PER CENT (6 0) INTEREM BEMNG W:'ARTS FOR THE PURPOSE OF FUNDING CER T HIN VALID OUWST=IN5 INDEBTr."D? MS CE 1HI CITY 02 LUBBOCK TEXAS: LEVYING THE N::MS .RY TAX TO P_.Y T H- -, ITd ERE32 -ND rROVIjE h SIB I11G FUND TO rETIF:_ SAID ,<<iATAi,TS AT YATURITY: AND DECLARING AN MERGENCY. WHEREAS, the Cit7 Commission of the City of Lubbock, Texas has determined the immediate necetsit ; of iosu.in Funding Warrnats for the purpose of funding certain valid outstanding indebtedness of said City, hereinafter mentioned: THEIIEFOM BE 11 ORIAINED Y TH- CITY 02 LUBBOCK TEXAS. 1. That warrants of said City, to be called "CITY OF LUBZ OCK FU11 I)ING idAIRRANTS SERIES 1924", be issued under and by virtue of the Constitution wnd laws of the State of Texas, for the purpose oZ fuiidin7 ,_„n equal amount oZ indebtedness of avid City duly and legally issued, and which is a valid, subsisting and now outstanding oblia t ion against said City,'the claims for which were duly audited and allowed b the City Commissiou prior to the issuance thereof, and which iv to be c .ncelled and the evidence thereof su-rrehd red, and the warrants h_-re ;y authorized issued to the hold r in lieu thereof, wAich said original evidences of indebtedneos are as follows: DATE NUTti E TO MM MUM 4-13-23 2632 Sourest General Elect. Co 4-14-23 2634 Clowe & Cowan 4-25-23 37 imerican La rrw-,,_ce 5-16-23 42 SOdest Teter Box Co. 6-7-23 43 SoeVest General Elec. Co. 6-11-23 44 Lubbock Leh. Co. 6-19-23 48 Clowe i Cowan 7-21-23 54 Ferguson Eng. Co. 8-16-23 56 Clowe z.Cowan 2-16-23 58 Briggs adeave-r Mch. Co. 10-17-23 59 Clowe & Cowan 10-17-23 60 Cullum Bros. 12-4-23 62 Clowe & Cowan 12-10-23 65 Simpson Elec. Co. 12-11 23 66 4esting House Elec, 12-12-23 67 Austin Bridge Leh. 12-12-23 69 Western Elec. Co. 12-15-23 72 "merican dell Wks. 12-15-23 73 In. Tubbs Blk. 6 OT 12-15-23 74 E. Gil±Mnd 9...Lvnd 2-6-24 2715 Shest General Elec. Co. PUP POSE ALL U R T Electric .Supplies ;982.42 later 4ks. Supplies 195.72 Fire kpp. 1250.00 Lets r Box 112.50 Electric Lt. Supplies 2826.04 Electric Supplies 128.00 ;dater dks. Supplies 97.92 dork on Switchborad 114.10 Water 4ks. Supplies 498.10 dater Pump 137.97 Water Wks. Supplies 229.01 Electric Supplies 300.00 dater Wks Supplies 356.70 Blec. Lt. Supplies 118,88 Elec. Lt. Supplies 1172.00 Repair parts on 3rader 240.00 Electric Lt. Supplies 1041.29 Water Wks. Supplies 49?.50 Water Wks. Eewlestate 3600.00 Sewer Dept. 2eL. estate 985.00 Electric Supplies 3124.85 189000.00 2. Said funding warrants shall be numbered from one (1) to eighteen (18), in elusive, and shall be in the denomination of One Thousand Dollars K1,000.00) each, aggregating tie sum of Eighteen Thousand Dollars ($18,000.00) 3. They sAal- be dated Larch 25th. 1?241 and shall n"tu.-re and become due and payable as folioTs: AR_ ANT JUIBEr:S LTURITY DITE3 r ECU_ TS. 1. January loth, 1929 419000.00 2. IT IT 1930 19000.Ou 3. " IT 1931 19000,00 4. 1932 19000.00 5. r " 1933 19000.00 6. " " 1934 19000,00 7 & 8 " 1935 210000.00 9 & 10 'r `r 1936 29000.00 11 & 12 " " 1937 29000.00 13 & 14 " 1938 29000.00 15 & 16 r r 1939 29000.00 17 & 18 " " 1940 29000.00 4. Said warrants shall bearinterest at the rate of six per centum (6�) per annum fron date until paid, payable January loth., 1925 semi-annually thereafter 6n the loth day o17 July and the loth day of January of each year, w:lich interest shall be evidenced b`, coupons attach,::d to each of said warrants. Past due inter est shall bear interest at the rate of six per centum (66) per annum from maturity until paid. 5. Principal and interest of sgid ta-rrants shall be payable in lawful ra::.ney of the United .3tates of Ame,L•ica upon presentation and surrender of proper warrant or coupon at the Continental X,c Commercial idational Bank, ChicL.-•o, Illinois. 6aid warrants shall provide that in the event of default in the pa.ymelit of prin- cipal or interest, and the same is placed in the hinds of an attorney for col- lection, or iz collected by suit, or by legal proceedinzs of any kind, an ad- ditional amount of ten per centum (10,/0 on the principal and interest then due shall be added as attorney's fees. 61 :paid warrants sliall be signed by the Mayor, countersigned by the -.:ity .3eeretary z.�.nd registe-led by the City Treasurer, and the seal of the City; sha 11 be impressed upon each of said warrants., Pac simile signatures of the 1Layor and City secretary may be lithographed upon the interest coupons. 7. The form of said warrants shall be substantially as follows: i1o.=,p1,000.00 UNITED 0.21 C0UiT'2Y O LUBBOCK rY r•, "1 t t T, n •t t't CITY ..� LUL•����Oc,K .iiU�TDIi•T�s ';Yn:?�i:iT1 SililiIE,3 1924. IHIi —; I._3 1f0 CL TI__'Y th_ t the City of Lubbocf , in the County of Lubbock and 6ta.te ol' Texas, acknowledges itself ineebted to and for value received hereby pr_rri ses to pay to bearer, at the Continental -� Corxne-rciwl Nlation�.l Ban: , Chicago illinoi :, on the loth. day of January, 19 t11 he princip.:.l sum of 0 1:;;1 RHOU8A_'TD DOLE,-RS ( ;19000.00) in lLilwful money �;f the United Stites of--,PricL:., �xrith interu-Jt thereon from dute i .e_ eof at U.- rate o _ six per centum per aruzunly interest payable January loth, 1925, and semi-annually thereafter on the loth day of July and the loth day of January of each year; and the Treasurer of sai-:.. City- is hereby author- ized, ordered and directed to pay to bearer said princip�_l sum, tozether with in- terest thereon, evidenced b,' coupons attach.�d hereto, principal a.nd interest pay- able at the bL..nk above named upon presentation and surrender of viarrant or proper coupon; and said Treasurer is further directed to resit to said bank the stir, or sums o4f money evidenced by this warrant and annexed coupons at least ten (10) days prior to the date of maturit.;- thereof, wfd if the sure of money represelZted oy this warrant and annexed coupons shall not be pa.idat maturity, the same shall thereafter bear into-,e:,.. at the -ra:te om six per centum (6/j) per annum until fully paid. IT I13 H31REBY especially agreed that if ti:.is' warrant, or any interest coupon hereto attached, is not paid at taturity, and the sane is placed in the hands of an attorney for collection after maturity- thereof, or suit is filed thereon, or col- lection :Wade b-.T legal proceedinTs of any kind, an additional . amount of ten per cent-oum (10 00 on the prilicirul grid interest there due shall be added as attorney's fees. is one of a series of eig lteell, warrants, of like date and tenor, except as to maturity, a?gre%�.ring the sum of Eighteen Thousand Dollars (,$18,000.00) issued for the purpose or funding an equal amount o.L indebtedness of said "ity heretofore duly and legally issued, the clair::s for w',,-ich were duly audited and allowed by the Cit-%. Coruni: aio. :rior t�; the issuance thereof, and for �,rTllich said City has received full value and considerl.tion and hereby acknowledges receipt of sa,. and which indebtedness was authorized by ordinance duly Gnd legLdly adopted prior to its is uw�sce, made a.nd entered u�:,on the 1._.nutes o:� ,.he pity Commijsion of said City; it bein!• knu--an and understood th_.t thislwarrant, as we---! as all otters of ti-As series, is iz� sued for the sole purpose and intent of funding said out- standin�o• indebtedness into warrants- authorized z_.nd issued in compliance with the Constitution and laws of the 6tatr. of Texa.U, and the City Charter of said City, and -our3ua.11t t.., Ordi1ianc:? No. 251, adopted by the City CommiU,Ao�. of sai{i City on the 24ti_,. da _.f :la.rch, 1024, and recorded in Book 3 page 182 seq. , o� the Minutes of said City Cornrni_,sic.n. i ... DATE of tins warrant, in C onforrmity ',,,ith the ordinance above mentioned is 1.,arch 25th. , 1924. .":;� IT I8 E=.:�BY CERTIFIED ___ � - CI1uL that all acts conditions and things required to be :zone precedent to a.na, in the issua :Lce of this ,.,/arrant hu.ve been ro- perl done ar�d performed a-, _ have happened in regul,,:.r and du..e ;;erne forth and mL.nner as required by law, ..nd th�_.t the total indebtednejs of sai-; City , including- this wa. •rxt.t, doe: n,_ G exceed any constitution.::l or statutory li._ i tation; that a sufficient t3 tax to pay tho principL.l of urid interest on this wa--'rant at their respective maturiti-s hL.s uec;n levied znd will c,;ntinue to be levied, collected a:id applied in r, .- nent thereof. 01l77 rlH E_:.E0� , the City of Lubbock, has caused the corporate se':.l o- the Cit-,T to be 'hereto affixed Liid this wa-rra it to be si;,ned -.,y the Layor cou1.teraigned b :- the Cit7, Secretary, and re_.istered by the Cit;T i'reasurer, �Uof d,:.te l;_-; t abo v _. mentioned. City ofcretary, Cit:� of Lubboc:., Texas. 1: &;Tor Fro Tem. City.-, of Lul,bock, Tex �__s. RE 13TE-_ ED: J. 11. Denman City Treasurer, Uity of Luboock, Tex.:.s. The corm of interest coupon shall be subs tE tia.l._y as follows: No. '3._',.00 Ole 10TH Dt'..Y -.D1�? 919 th-e City of Lubbocl_, Texz:s, will -c:_-.y to bearer, at the continental -3, Commercial National Bank, Chicago 9Illinois, the sum of Thirty Dollars, (:$30.00) being six mohths' interest due that da-�, on CITY ' LUr3BOCK L UNDIi� _ V'A:.RAIYT 19249 dated IIarcn 25th.. , 1924 to which this coupon is attached and is a part thereof, Iiiayor, , Uro Tem. City Secretary. 8. IT ID" PUr,TI R 0 L'D.LiNED by said ''it th_t said ori:-in-.l indebtedness herei.nbefore m'ntioned �,nd described be and the sa,.ie iU hereb- in �..11 thiz�-�s validated and held and declared to be valid, subsistin •, bi1l5in:?' and unsatisfied obligation azainst Laid City, a.nd the acts of the City officials in the issuance the.:•eof are h..;reby in all things ratified and c onfirm,:d, 9. IT IS '+'U' 7T-IJR O�;-DA1NED that a fund be and the same is here �Fy rn_ de and created and shall be set aside --nd designated as "SPECIAL RUi'(DII.; IA_.? __,T 2UND, SERIES 1924", which fund when collected shall be used to -.pay the interest and pro- vide the necessary sinking fund to pay said warrants at maturity, -_,Ld for no other -our-oose; that to create said fund for the purpose of pa,,, ­ing th:: interest on said warrants nd providin` sufficient sinkinT fund to pay tf_e_n at maturity, a tax of aiid a.t the rate of six cents (6¢) on the 4100.00 vw.luation of all taxable pro- p=ty in slid City shall be ai nually levied, assessed and collected, and said tax is here not levied for the current year, and so mcuh thereof as shall be necessary for each succeeding year while said warrants, or an;':: of tczem, are outstz-nding and unpaid, and the ��1 ae shall be annually assessed and collected and applied to the purpose named. 10. I Ia _-141U1:�'_'IHE1_: 0_:DAI.,NET) that in addition t-i the ad va.lore;ii tax levied to any the interest and principal of said warrdr�ts, a sufficient amount of the -revenues deaived fr6m the operation of the electric light pl--,nt <..nd the water- works and sever systeme of said City be e an-i- the sa.,-:,e is hereby irrevocably pledged to create a Z-and to pay the interest bnd principal of said warrants at their -respective maturity dates. 11. The fact that the City Commission deems it adviseable ,nd to the best interest of the City to fund the outstanding indebtedness hereinbefore menti ned creates an emer_Tency z_.nd an imperative public necessity that the rule.6 requiring ordinances to be read at !pore than one meeting of the City Commission be suspended and it is so ordained, and this ordinance shall take effect and be in force from and after its passage and approval. PASSE'D this 24th. da - of March, 1924. Al -PROVED, this 24th. d_, of Larch, 1924. :z2TST: J . R . Germany, City Secretary , CCit-.of Lubbock, Texas. H. G. Loves Aayo-r Pro Tem City of Lubbock Texas.