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HomeMy WebLinkAboutMinutes - City Council - Regular - 4/5/1927RE'XULAR LE, STING: April 5,1927. Transfer of J.T?. Teaver lease to dim. T:Zcllha- ney and Wm. rJMc I l h an dy' s bond. T. �,. May resigned as Chief of -Police to take effect April 15, 1927. John dd. Le - Mond appoin ted Chief of r-olice at a salary of 2000.00 pe i year. $350.00 'rd,,. r rant order- ed issued in payment of lAotorcy- cle for L.0 Wheeler. Morgan's as 2ittems Bon surrendered L.S.Robert- son's Side- _ ddalk Bond approved. In Lerest & costs wai- ved on Hen derson estate tax es. City Commission met at 3:30 P.M. in regular session recessed from Marft 31, with the following present: Commissioners J.O.Jones, ,d.J. Posey, J.H.Hankins and A.V. Weaver, City Attorney .L.Klett, and Cittr Secretary, G.J. McCleary. Absent: Mayor Pink L. Parrish. Mayor Pro Tem , A.V. 'leaver-, presided. Upon motion made by Mr. Posey, seconded by Ir. Hankins, carried unanimous. ly transfer of the J. _1. Teaver lease to +dm. Mc Ilhaney and bond of vim. rdcIlhane were approved and said transfer and bond ordered copied in the Minutes,6ee page 21 for copy of transfer and bond). T.R. May was present and verbally offered his resignation as Chief of Police to take effect April 15, 1927, which was accepted on motion of Mr. Posey, seconded by Mr. Hankins and carried unanimously. Mr. May express- ed his regrets on account of it being necessary for him to sever his re- lations with the City, but stated that he felt it his duty to go into a business that would be more remunerative and he thanked the Commission for the courtesies extended to him during his terms of office with the City. Upon motion made by Mr. Hankins, seconded by Mr. Jones, John W. Lemond was appointed Chief of Police at a salary of $2000.00 per year payable monthly, his services in such capacity to begin April 15, 1927, the time Chief May's resignation is to take effect._ Upon motion made by 111r. Posey, seconded by Mr. Hankins, the Mayor and Secretary were instructed to issue warrant for 5350.00 in favor of Harley- Davidson Sales Company, in payment for the Motorcycle purchased for Traf- fic Policeman, L.O.Wheeler. The Secretary stated that T.J. Morgan requested that his 3as Fitter's Bond that he had filed with the City be returned to him on account of somedis- agreement between him and the Surety Company, said bond dated Dec. 18,192E :in the sum of-$2500.00 with American Surety Company of New York as sure- ty. Mr. Morgan states that he has not taken out the Gas Plumber's lic- ense nor done any gas fitting work and the records bear him'out in his statement. Upon motion of Mr. Jones, seconded by Mr. Posey, carried un- animously, the Secretary was authorized to grant Mr. Morgan's request. Upon motion made by Mr. Posey, seconded by Lir. Hankins, carried unanimous- ly, Sidewalk Contractor's Bond of L.C. Robertson as priiicipal and D.W. Robertson & E.L.Robertson as Surety in the sum of $2000.00 dated April 49 1927, was approved and ordered filed. Upon motion made by Mr. Posey, seconded by Mr. Jones, City Tax Collector, Holland, was authorized to waive payment of interest and costs on the 1926 taxes against the M.D. Henderson Estate property as check for $26.07 covering said taxes was mailed from Kansas City, Mo. , March 29, 1927, though it did not reach Mr. Holland until April 1st. As Morris, Mather & Ohiq,ohadiledAo oo,uurmati?fpchase cussed between some session, and Gillon Company ChinnOn and I.L. Slaton & Company, Toledo, ec air a�y_ee itc o n sum e ma r a een is- ommi ssion, while not in & McAfee had arranged for Geo. L. Simpson & C om pan y 20 Geo. L. , of Dallas Texas to execute a contract to handle the funding bond issue Simpson & on the same terms as said Morris, Mather & Company and J.L.Siaton and Co. awarded Company had agreed to handle it. con tree t for handlin_ After discussing the matter thoroughly with Guy McAfee of Gillon & McAfee, of funding representing Geo. L. Simpson & Company, Dallas, Texas, upon motion of 1dr, l bond issue Posey, seconded by hir. Jones, Mayor Pro 'Tem, vieaver and City Secretary J as other were authorized and instructed to execute the followin? contract with parties Geo. L. Simpson & Company for the handling of the proposed funding bond failed to issue, said contract to be delivered to Gillon & McAfee when the ;p7500.00 comple to certified check required therein is put up: contract. Lubbock, Texas. hpril 5, 10,27. Contract with Geo.L. Simpson. & Co. for the purchase and handlin of $650,000 bond issue To the HONORABLE MAYOR PRO TEL , Mr. A`6 . WEAVER, , and MEr,2BERS OF THE CITY COLiMISSION, Lubbock, Texas. Gentlemen We desire to submit the following proposition with reference to re- funding City of Lubbock, Texas, outstanding indebtedness: It is our understanding that your City now has outstanding darrant Issues aggregating approximately �"446,000.00 which you can fund immed- iately. After an election has been held in the City of Lubbock and the above indebtedness voted into a Funding Bond Issue by a majority vote of the taxpayers voting at said election we agree to take up and pay for the above warrants or such amounts as the City can deliver or have delivered to the National Flank of Commerce, New York City. Said Funding Bonds to bear interest at the rate of five (5) per cent per annum and to be dated on or about May 20th, 1227, and in the denomi- nation of-,�1,000.00 maturing serially, without option of prior payment, in ten to forty years from date t zereof, principal and semi-annual int- erest payable at the National.oBank of Commerce, New York City, Net.York. The above designated warrants or such part thereof are to be deliv- ered to the National Bank of Commerce, New York City and Men presented are to be taken up and paid for by us and we agree to present same to the Office of the Comptroller of :Mate of Texas to be exchanged for aver- age maturities of said Funding bonds. Said bonds when voted shall be placed by the City Officials with the Comptroller of the State of Texas. It being further understood that said election has been ordered for an amount approximating the total outstanding Tarrant indebtedness and that legal proceedings relative thereto shall be furnished at the expense of the City of Lubbock. Se furt :er agree to take such other warrants or evidences of indebt- edness as the City of Lubbock or ourselves may acquire at even exchange, it being understood that said exchange will be made within one hundred and twenty days, at the office of the Comptroller of the State of 'Texas, after.date of this contract. This bid is made subject ,to our being furnished with tw full and complete sets of properly certified transcripts had incident to the is- suance of the funding bonds; subject to the preliminary approving opin- ion of the funding issue by Messrs. Chapman, Cutler & Parter of Chicago, Illinois. You further agree to furnish said attorneys with such other certificates as they may deem necessary to establish legality of your bond issue in all respects. .de agree to pay for said attorneys opinion. it is our understanding that approximately -, Ib5,000.00 of the above indebtedness is callable at 101 and interest. It is understood that we take said indebtedness up at the above price and shall be immediately reimbursed by the laity of Lubbock for such amount above par and accrued interest as we pay; rarnely, 101 and interest. It is further understood that we will reimburse the City of Lubbock for accrued interest on the juiiding Bonds from date of sume to date of exchange. vie enclose herewith our cashier's check or certified check in the amount of $7,500.00 which is to be held uncashed by you as evidence of our good with and returned to us upon consummation of this contract. avid check to be cashed as full and liquidated damages in the event we break faith. Your acceptance of this proposal will c6nstitute a contract of sale and purchase between us. Respectfully submitted, GEO. L. SIMPSON & CO. Per: Gillon & McAfee Bys • Guy L. McAfee. rnJ Transfer eater Sew- age Agree- ment J.R. leaver to "d . Y. 14011- han ey. 0500 bond of edm. IdIcIlhaney. 7pon motion made by Mr. Posey, seconded by Mr. Jones, the above proposi- tion was accepted and approved and the L'ayor zro Tem, A.V. Weaver, and ;ity Secretary were authorized to execute the contract and the same is so al -proved and accepted this 5th day of April, A.D.. 1927. McCleary "ity Secretary. A.7. Weaver Mayor Pro Tem ?he following is a copy of the transfer dater Sewage Agreement between f.R. Teaver and N.Id. McIlhaney, also bond of Jm. McIlhaney (See page L9) : TRANSFER WATER - EWA" AGRB� ETIT 3TATE OF TEXAS J.R. TEAVER TO .,UBBO C 7. COUNTY 7.11. MC I LHATI.EY For value received, J.R. Teaver hereby transfers, assigns and deliv- ;rs to :d.Id. McIlhaney all his right, title and interest in sewage water %greement entered into between City of Lubbock and J.R. Teaver on December LOth, 1925; and the said W.M. IYScIlhaney hereby assumes the payment of the 7entals therein called for to the City of Lubbock, at Lubbock, Texas, for the years 1927, 1928, 1929 and 1930, and further agrees to carry out all )bligations imposed by said contract upon the said J.R. Teaver, and the Said J.R. Teaver is released from further obligations that may arise by any breach of said contract from and after the date of the receipt and ipproval of the said "VJ.Ll. McIlhaney's bond to said City. This 5th day of April, 1927. vVm. McIlhaney J.R. Teaver BOND TO DITY OF LUBBOCK V.IJI. IVIcIlhaney, as principal, and H.L. Johnsbn and T.E. May, as sureties, acknowledge themselves bound to pay to the City of Lubbock, at Lubbock, Texas, the sum of rive Hundred ($500.00) Dollars, conditioned tha the said 'd.M. McIlhaney will faithfully and promptly carry out and perform the obl iaati ons imposed on J.R. Teaver in the contract between the City of Lubbock and J.R. Teaver dated December loth, 1925, being the contract referred to above. This 5th day of April, 1927. Wm. IvIcI1haney Principal H. L. Johnston T. E. May Sureties. Approved this 5th day of Mppril, A.D., 1927. A.V. eater Mayor Pro Tem ". id. McCleary Secretary, On motion made by Mr. Posey, seconded by Mr. Jones, carried unanimously, the City Commission adjourned. READ AND APPROVED this 14th day ATTEST: Secretary. of Arril, A.D. ,1 7. PJ Mayo r.