HomeMy WebLinkAboutMinutes - City Council - Regular - 11/27/1947Regular Meeting.
Lubbock, Texas
November 27, 1947.
The City Commission of the City of Lubbock, Texas met at 2 P.M. in
regular session at the regular meeting place in the City Hall, the
followin p- members thereof, being present, to -wit:
Mayor C.A.Bestwick, Commissioners W.B. Price, J. Ray Dickey, F.H.Childress,
John Spiker, City Attorney Vaughn E. Wilson, City Manager Homer A. Hunter,
City Secretary Lavenia Williams.
Absent: All.
For want of a quorum, the Gity Commission was recessed to meet
December 3, 10,47, at 10 A.M.
Read and approved this the llth day of December , 1947.
ATTEST:
44City Sebietary .
THE STATE OF TEXAS
COUNTY CF LUBBOCK
CITY OF LUBBOCK Z
We, the unlersigned officials holding an election within and for
the �'ity of Lubbock at the Central Fire Station Building, at loth Street
and Avenue J, in Lubbock, Texas, on the 2nd day of December, A.D., 1947,
hhereat three separate propositions were submitted to determine whether or
not Revenue Bonds of the 'ity of Lubbock should be issued to the aggregate
amount of �4,924,000.00-for the various purposes as set forth in the Electio:
Ordinance passed by the 'ity Commission and whether or not the Uity C ommissii
shall be auti orized to encumber the revenues of the "ity's Electric Light
System for the purpose of securing the payment of principal of and interest
on said bonds;
DO HEREBY CERTIFY:
First: That we duly received the election supplies from the City
Commission, together with our commission for holding said election.
Second: That we took the oath of office required by law of election
officials holding elections within the State of Texas.
Third: That we opened the polls for said election at Light o'clock
A.M. on December 2, 1947, and kept them open for such election until Seven
o'clock P.M. on said day.
Fourth: That only those qualified electors residing in the City of
Lubbock, who own property subject to taxation within said 'ity and who
had duly rendered the same for taxation were permitted to vote at said
election.
We further certify that on the three propositions submitted, the
following votes were cast, to -wit:
I.
On the preposition Number One 1016 votes were cast, of which number
there were cast:
FOR THE ISSUANCE OF THE REVENUE BONDS OF SAID CITY IN THE PRINCIPAL
SUM OF TWO MILLI014 ONE HUNDRED EIGHTY FIVE THOUSAND ($2,185,000)
DOLLARS, MATURING SERIALLY OR OTHERWISE, WITH TEN (10) YEAR OPTION
TO CALL, OVER A PERIOD OF YEARS NOT TO EXCEED 20 YEARS FROM THE DATE
THEREOF, BEARING INTEREST AT THE MAXIMUM RATE OF THREE AND 3/4 PER
CENTUM (3-3/4%) PER ANNUM,_ FOR THE PURPOSE OF CONSTRUCTING IMFROVEMENTS,
ENLARGEMENTS, EXTENSIONS AND REPAIRS TO THE CITY'S ELECTRIC LIGHT
SYSTEM, AS AUTHORIZED BY THE GENERAL LAWS OF THE STATE OF TEXAS, PARTI-
CULARLY ARTICLE IIIT ET SEQ., REVISED CIVIL STATUTES CF 1925, AS AMENDED,
SAID BONDS VE SPECIAL OBLIGATIONS OF THE CITY OF LUBBOCK, TEXAS, PAY-
ABLE AS TO BOTH PRINCIPAL AND INTEREST SOLELY FROM THE REVENUES OF THE
CITY'S ELECTRIC LIGHT SYSTEM, AND AUTHORIZING THE CITY COMMISSIOV TO
ENCUMBER THE REVENUES OF THE CITY'S ELECTRIC LIGHT SYSTEM FOR THE PUR-
POSE OF SECURING THE PAYMENT OF PRINCIPAL OF AND INTEREST ON SAID BOLDS,
SAID ENCUMBRANCE OF SAID REVENUES TO BE AN EXCLUSIVE FIRST LIEN ON
AND PLEDGE OF SAID REVENUES AFTER DEDUCTION OF THE REASONABLE,
EXPENSES OF OPERATING AND MAINTAINING SAID ELECTRIC LIGHT SYSTEM,
AS SAID EXPENSES ARE DEFINED BY STATUE - - - 894 vote0;1
AGAINST THE ISSUANCE OF THE REVENUE BONDS OF SAID CITY IN THE
PRINCIPAL SUM OF TWO MILLION ONE HUNDRED EIGHTY-FIVE THOUSAND
($2 185,000) DOLLARS, MATURING SERIALLY OR OTHERWISE, WITH TEN
(101 YEAR OPTION TO CALL, OVER A PERIOD OF YEARS NOT TO EXCEED
20 YEARS FROM THE DATE THEREOF, BEARING INTEREST AT THE MAX-
IMUM RATE OF THREE AND 3/4 PER CENT UM(13/4%) PER ANNUM FOR THE
PURPOSE OF CONSTRUCTING IMPROVaIENTS, ENLARGEMENTS, EXTENS-0 TS,
AND REPAIRS TO THE CITY'S ELECTRIC LIGHT SYSTEM, AS AUTHORIZED
B"" THE GENERAL LAWS OF THE ST11TE OF TEXAS, PARTICULARLY ARTICLE
1111 ET SEQ.) REVISED CIVIL STATUTES OF 1925; AS AMENDED, SAID
BONDS TO BE SPECIAL OBLIGATIONS OF THE CITY OF LUPBOCK, TEXAS, PAY-
ABLE AS TO BOTH PRINCIPAL AND INTEREST SOLELY FROM THE REVENUES
OF THE CITY'S ELECTRIC LIGHT SYSTEM, AND AUTHORIZING THE CITY
COMMISSION TO ENCUMBER THE REVENUES OF THE CITY'S ELECTRIC LIGHT
SYSTEM FOR THE PURPOSE OF SECURING THE PAYMENT OF PRINCIPAL OF
AND INTEREST ON SAID BONDS, SAID ENCUMBRANCE OF SAID REVENUES TO
BE AN EXCLUSIVE FIRST LIEN ON AND PLEDGE OF SAID REVENUES AFTER
DEDUCTION OF THE REASONABLE EXPENSES OF OPERATING AND MAINTAINII`:G
SAID ELECTRIC LIGHT SYSTEM, AS SAID EXPENSES r:RE DEFINED BY
STATUTE - - - - - - 122 votes
MAJORITY FOR THE ISSUANCE OF THE REVENUE BONDS OF SAID CITY
IN THE PRINCIPAL SUM OF TWO MILLION ONE HUNDRED EIGHTY FIVE
THOU' -,ND ($z 185,000) DOLLARS, MATURING SERIALLY OR OTHERIN'ISE
Ia H `EN (101 YEAR OPTIGib TO CALL, OVER A PERIOD OF YEARS NCm
TO EX EED 20 YEARS FRO!A THE DAT _ THEREOF BE -',RING INTEREST AT
THE MAXIMUM RATE OF' THREE AND 3/4 PER CENTUM (3-3/4%) PER
ANNUM, FOR THE. FURFOSE OF CONSTRUCTING IMPROVENTNTS, ENLARGE
MEN TS , EXTENSIONS AND REPAIRS TO THE CITY'S ELECTRIC LIGHT
SYSTEM, AS AUTHORIZED BY THE GENERAL LAWS OF THE STATE OF TEXAS,
PARTICULARLY ARTICLE IIII ET SEQ., REVISED CIVIL STATUTES OF 1925)
AS AMENDED, SAID BONDS TO BE SPECIAL OBLIGATIONS OF THE CITY OF
LUBBOCK, TEXAS, PAYABLE 'AS TO BOTH PRINCIPAL AND INTEREST SOLELY
FROM THE REVENUES OF THE CITY'S ELECTRIC LIGHT SYSTEM 'AUD TUBHORIZING
THE CITY COMMISSION TO ENCUMBER THE REVENUES OF THE CITY'S
ELECTRIC LIGHT SYSTEM FOR THE PURPOSE OF SECURING THE PAYMENT OF
PRINCIPAL OF AND INTEREST GTd SAID BONDS, SAID ENCUMBRANCE OF SAID
REVENUES TO BE AN EXCLUSIVE FIRST LIEN ON AND PLEDGE OF SAID RE-
VENUES AFTER DEDUCTION OF THE, REASONABLE EXPENSES OF OPLRATING
AND MAINTAINING SAID ELECTRIC LIGHT SYSTEM,.AS SAID EXPENSES ARE
DEFINED By STATUTE - - - 772- votes.
II.
On Proposition Number 2, 1011 votes were cast, of which number there
were cast:
FOR THE ISSUANCE OF THE REVENUE BONDS OF SAID CITY IN THE
PRINCIPAL SUM OF TWO MILLION THREE HUNDRED THIRTEEN THOUSAND
($2 313, 000) DOLLARS, MATURING SERIALLY OR OTjiERTWrlSE, WITH TEN
(101 YEAR OPTION TO CALL, OVLR A PERIOD OF YEARS NOT TO EXCEED
20 YEARS FROM THE DATE THEREOF, BEr''_RING INTEREST AT THE MAX-
IMUM RATE OF THREE AND 3/4 PER CENTUM (3-3/4%) PER _ANNUM FOR
THE PURPOSE OF IMPROVING, ENLARGING liND EXTENDING AND CONSTRUCTING �
IR,PROVENIENTS, ENLARGENIENTS, EXTENSIONS ARID REPAIRS TO THE CITY'S
WATEFi1G MS .SYSTEM, AS AUTHORIZED BY THE GENEI..AL LAWS OF THE STATE
OF TEXAS, FARTICULARLY ARTICLE IIII ET SEQ. „ REVISED CIVIL STATUTES
OF 19252 AS AMENDED, SAID BONDS TO BE SPECIAL OBLIGATIONS OF THE
CITY OF LUBBOCK, TEXAS, PAYABLE AS TO BOTH PRINCIPAL AND INTEREST
SOLELY FROM THE REVENUES OF THE CITY'S ELECTRIC LIGHT SYSTEM, AND
AUTHORIZING THE CITY CONUT ASSIGN'. TO ENCUMBER THE REVENUES OF THE
CITY'S ELECTRIC LIGHT SYSTEM FOR THE PURPOSE OF SECURING THE PAY-
MENT OF PRINCIPAL OF AND INTEREST ON SAID BOI=DS, SAID ENCUMBRANCE
OF SAID REVENUES TO BE AN EXCLUSIVE FIRST LIEN ON AND PLEDGE OF SAID
REVENUES AFTER DEDUCTION OF THE REASONABLE EXPENSES OF OPERATING
AND MAI;,;TAINING SAS D ELECTRIC LIGHT SYSTEM, AS SAID EXPENSES ARE
DEFINED BY ST.kTUTE; - - - - 926 vot esE
AGAINST THE ISSUANCE OF THE REVENUE BONDS OF SAID CITY IN THE
PRINCIPAL SUM OF TWO MILLION THREE HUNDRED THIRTEEN THOUSAND
($2 313,000) DOLLARS, MATURING SERIALLY OR OTHERWISE, WITH TEN
(101 YEAR OPTION TO CALL, OVER A PERIOD OF YEARS NOT TO EXCEED
20 YEARS FROM THE DATE THEREOF BEARING INTEREST AT THE MAXIMUM
RATE OF THREE AND 3/4 PER CENTUM (3-3/4%) PER ANNUM, FOR
THE PURPOSE OF IMPROVING, ENLARGING AND EXTENDING AND CONSTRUCTING
IMPROVEMENTS, ENLARGENIENTS, EXTENSIONS AND REPAIRS TO THE CITY'S
WATERWORKS SYSTEM, AS AUTHORIZED BY THE GENERAL LAWS OF THE STATE
OF TEXAS, PARTICULARLY ARTICLE IIII ET SEQ., REVISED CIVIL STATUTES
CF 1925, AS AMENDED, SAID BONDS'TO BE SPECIAL OBLIGATIONS OF THE
CITY OF LUBBOCK, TEXAS, PAYABLE 'AS TO BOTH PRINCIPAL AND INTEREST
SOLELY FROM THE REVENUES OF THE CITY'S ELECTRIC LIGHT SYSTEM, AND
AUTHORIZING THE CITY COMMISSION TO ENCUMBER THE REVENUES OF THE
CITY'S ELECTRIC LIGHT SYSTEM FOR THE PURPOSE OF SECURING THE PAY-
MENT OF FRINCIPAL OF 'AND INTEREST ON SAID BONDS, SAID ENCUMBRANCE
OF SAID REVENUES TO BL AN EXCLUSIVE FIRST LIEN GN AND PLEDGE OF
SAID REVENUES AFTER. DEDUCTION OF THE REASONABLE EXPENSES OF
OPERATING AND MAINTAINING SAID ELECTRIC LIGHT SYSTEM, AS SAID EX-
PENSES ARE DEFIED BY STATUTE - - - 85 votes
I
MAJORITY FOR THE ISSUANTCE OF THE REVENUE, BONDS OF SAID CITY IN
THE PRINCIPAL SUM OF TWO MILLION THREE HUNDRED THIRTEEN THOUSAND
(62 313, 000) DOLLARS, MATURING SERIALLY OR OTHERTdISE, UIiITH TEN;
(101 YEARS OPTION TO CALL, OVER A PERIOD OF YEARS NOT TO EXCEED
20 YEARS FROM THE DATE THEREOF, BEARING IITEREST AT THE MAXIMUM
RATE OF THREE AND 3/4 PER CENTUM (3-3/4%) PER ANNUM, FOR THE PUR-
POSE OF IMPROVING, ENLARGING AND EXTENDING AND CONSTRUCTING IM-
PROVEMENTS, ENLARGENIENTS , EXTENS IOD.-E ANJ REPAIRS TO THE CITY'S
IA,-ATERWMS SYSTal, AS AUTHORIZED BY ThE GENERAL LAWS OF THE STATE
OF TEXAS, PARTICULARLY ARTICLE IIII ET SEQ., REVISED CIVIL STATUTES
OF 1925, AS AMENDED) SAID BONDS TO BE SPECIAL OBLIGATIONS OF THE
CITY OF LUBBOCK, TEXAS, PAYABLE AS TO BOTH PRINCIPAL AND INTEREST
SOLELY FROM THE REVENUES OF THE CITY'S ELECTRIC LIGHT SYSTEM, AND
AUTHORIZING THE CITY COMMISSION TO ENCUMBER THE REVENUES OF ffHE
CITY'S ELECTRIC LIGHT SYSTEM FOR THE PURT OSE OF SECURING THE FAYNIENT
OF PRINCIPAL OF AND INTEREST ON SAID BONDS, SAID ENCUMBRANCE OF
SAID REVENUES TO BE AN EXCLUSIVE FIRST LIEN ON AND PLEDGE OF SAID
REVENUES AFTER DEDUCTION OF THE REASONABLE EXPENSES OF OPERATING
AND MAINTAINING SAID ELECTRIC LIGHT SYSTEM, AS SAID EXPENSES ARE
DEFINED BY STATUTE - - - - - 841 votes;
On proposition Number Three 1009 votes were cast, of which number
there were cast:
FOR THE ISSUANCE OF THE, REVENUE BONDS OF SAID CITY IN THE PRINCIPAL
SUM OF FOUR HUNDRED Tvi-ENTY SIX THOUSAND (0426, 000) DOLLARS, MAT-
URING SERIALLY OR OTHERWISE, WITH TEN (10) YE ".R OPTION TO CALL OVER
A PERIOD OF YEARS '':OT TO EXCEED 20 YEARS FRO'll THE DATE THEIREOF,
BE ".RIn G INTEREST AT THE MAXIMUM RATE OF THREE AID 3/4 PER CENTUM
(3r3/4%) PER ANNUM, FOR THE PURPOSE OF CONSTRUCTING IMPROVEMENTS,
ENIA RGrMENTS, EXTENSIONS AND REPAIRS TO T HE CITY'S SAP ITAP.Y SETrYER
SYSTEM, AS AUTHORIZED BY THE GENERAL LAWS OF THE STATE OF TEXAS,
FARTICULARLY ARTICLE 1111 ET SEQ., REVISED CIVIL STATUTES OF L9251
AS AMENDED, SAID BONDS TO BE SPECIAL OBLIGATIONS OF THE CITY OF
LUBBOCK-, TEXAS, PAYABLE AS TO BOTH PRINCIPAL AND INTEREST SOLELY
FROM THE REVENUES OF THE CITY'S ELECTRIC LIGHT SYSTEM, AND AUTHOR-
IZ;NG THE CITY COMMISSION' TO ENCUMBER THE REVENUES OF THE CITY'S
ELECTRIC LIGHT SYSTEM FOR THE PURPOSE OF SECURING THE FAYM72,T CF
PRINCIPAL OF AND INTEREST OF SAID BONIDS, SAID ENCUMBRANCE OF SAID
REVENUES TO BE AN EXCLUSIVE FIRST LIEN ON AND PLEDGE OF SAID REVENUES
AFTER DEDUCTION OF THE REASONABLE EXPENSES OF OPERATING AND MAIN-
TAINING SAID ELECTRIC LIGHT SYSTEM, AS SAID EXPENSES ARE DEF_LNED BY
STATUTE - - - - 935 votes
AGAINST THE ISSUANCE OF THE REVENUE BONDS OF SAID CITY IN
THE PRINCIPAL SUM OF FOUR HUNDRED T E14TY SIX THOUSAND 3426,000)
DOLLARS, MATURING SERIALLY OR OTHERWISE, WITH TEN 1-10) YEAR
OPTION TO CALL, OVER A PERIOD OF YEARS OOT TO EXCEED 20 YEARS
FRGiA THE DATE THEREOF, Bra --RING INTEREST r_T THE MAXIMUM RATE OF
THREE AND 3/4 PER CENTUNI (3-3f 4%) PER ANNUM, FOR THE FURPOSE
OF CONSTRUCTING IMFROV34ENTS, ENLARG:1,IENTS, EXTENSIONS AND RE-
PAIRS TO THE CITY'S SANITARY SE'VvER SYSTEM, AS AUTHORIZED BY THE
GENERAL LAWS OF THE STATE OF TEXAS, FARTICULARLY ?.RTICLE 1111
ET SEQ., REVISED CIVIL STATUTES OF 1925, AS AMENDED, SAID BONDS
TO BE SPECIAL OBLIGATIONS OF THE CITY OF LUBBOCK, TEXAS, PAYABLE
AS TO BOTH PRINCIPAL AND INTEREST SOLELY F ROTS. THE REVENUES OF THE
CITY'S ELECTRIC LIGHT SYSTEM, AND AUTHORIZING THE CITY COMMISSION
TO ENCUMBER THE REVENUES OF THE CITY'S ELEC'1-RIC LIGHT SYSTEM FOR
THE PURPOSE OF SECURING THE PAYMENT OF PRINCIPAL OF AND INTEREST
ON SAID BONDS, SAID ENCUMBRANCE OF SAID RLVENUES TO RE AN EXCLUSIVE
FIRST LIEN ON AND PLEDGE OF SAID REVENUES AFTER DEDUCTION OF THE
REASONABLE EXPENSES OF OPERATING AND MAINTEINING SAID ELECTRIC LIGHT
SYSTEM AS SAID EXPENSES ARE DEFINED BY STATUTE - - - 74 vote
MAJORITY FOR THE ISSUANCE OF THE REVENUE BONDS OF SAID CITY IN THE
PRINCIPAL SUM OF FOUR HUNDRED TWEENTY SIX THOUSAND ($426,000) DOLLARS
MATURING SERIALLY OR OTHERI•TISE, WITH TEN (10) YEAR OPTION TO CALL,
OVER A PERIOD OF YEARS NOT TO EXCEED 20 YEARS FROM THE DATE THEREOF,
BEARING INTEREST AT THE MAXIMUM RATE OF THREE AND 3/4 PER CENTUM (3-
3/4%) PER ANNUM, FOR THE PURPOSE OF CONSTRUCTING IMPROVEMENTS,
ENLARGEMENTS, EXTENSIONS AND REPAIRS TO THE CITY'S SANITARY SEWER
SYSTEM, AS AUTHORIZED BY THE GENERAL LAWS OF THE STATE OF TEXAS,
PARTICULARLY ARTICLE 1111 ET SEQ., REVISED CIVIL STATUTES OF 1925s
AS AMENDED, SAID BONDS TO BE SPECIAL OBLIGATIONS OF THE CITY OF
LUBBOCK, TEXAS, PAYABLE AS TO BOTH PRINCIPAL AND INTEREST SOLELY
FRCS THE REVENUES OF THE CITY'S ELECTRIC LIGHT SYSTEM, AND AUTH-
ORIZING THE CITY COMMISSION TO ENCUMBER THE REVENUE OF THE CITY'S
ELECTRIC LIGHT SYSTEM FOR THE -PURPOSE OF SECURI G THE PAYP,;ENT OF
PRINCIPAL OF AND INTEREST ON SAID - BONDS, SAID ENCUMBRANCE OF SAID
REVENUES TO BE AN EXCLUSIVE FIRST LIEN ON AND PLEDGE OF SAID REVENUES
:AFTER DEDUCTION OF THE REASONABLE EXPENSES OF OPERATING AND ►MAINTAINING
SAID ELECTRIC LIGHT SYSTEM AS SAID EXPENSES ARE DEFINED BY .STATUTE 861 vote
We herewith enclosc_ poll list and tally sheets and other documents
concerning such election as required by law.
Witness our hands officially this the 2nd day of December, 1947.
(Signed) Glen Hess Presidin Judge
Mrs. F.M. Maddox Clerk.
R. Bush S mith Clerk
Ross Edwards Clerk
Mrs. Jack Mc�innis Clerk
Mrs. H.B. Bryan Clerk
Pinkye Lou ,Blair Clerk