HomeMy WebLinkAboutResolution - 090535B - Notice Of Intention To Issue Time Warrants- Payment For Land Owned By P.F. Brown - 09/05/1935RESOLUTION
DIRECTING THE T'IAYOR TO GIVE: NOTICE OF
INTEENTION TO ISSUE INTEREST BEARING
TIME '11ARRANTS IN THE AT;iOUNT OF $7000.00
IN PART PAY111ENT OF 100 ACRES OF LAND TO
BE PURCHASED FR01, P. F. BRO';YN .
VVHERAS, it is considered to the best interest of
the City of Lubbock to purchase 100 acres of land out of Sec-
tion Three (3), Block 0, in Lubbock County, Texas, from P. F.
Brown, for purpose of public parks, and issue interest bear-
ing time warrants; and,
WHEREAS, it is necessary that notice be published
of such intention as required by the Bond and 'u'larrant Law of
1931, and Acts of the Legislature of the State of Texas;
BE IT RESOLVED BY THE CITY C013:ISS IO I' OF THE CITY
OF LUBBOCK, TEXAS;
(1) That the Mayor be, and he is hereby, instruct-
ed and directed to have published in a newspaper of general cir-
culation, regularly published within the City of Lubbock, Texas,
notice of intention, substantially in words and figures as fol-
lows, towit;
NOTICE OF I ;TE1,1TI0 ' TO ISSUE INTEREST
BEARING "CITY OF LUBBOCK BROWN PARK
'i'IARRANTS, SERIES 1 OF 1935" ITT TRE
AMOUNT OF $7,000.00 IN PART PAYTviENT
FOR 100 ACRES OIC, :LAID OUT OF SECTION.'
THREE (3), BLOCK 0, IN LUBBOCK COUNTY,
TEXAS, TO 2,E PURCHASED FROM P. F. BROb'1
Notice is given that on the Z% day of September,
1935, the City Commission of the City of Lubbock, Texas, will
pass an ordinance authorizing the issuance of"City of Lubbock
Brown Park Warrants, Series 1 of 193511 in the amount of
$7,000.00, bearing five (5%) per century, per annum, interest
payable annually on the 20th day of August, which interest
shall be evidenced by coupons attached to said warrants. Op-
tion to pay all or any of said warrants on any interest pay-
ing date shall be reserved. The serial maturities shall be
as follows:
WARRANT NUA DERS
1,1ATURI TY
DAI'E''S
A1,10UNTS
1
Aug.
20,
1936
1400.00
2
Aug.
20,
1937
1400.00
3
Aug.
20,
1938
1400.00
11400.00
4
Aug.
20,
1939
5
Aug.
20,
1940
;1400.00
Said warrants are to be executed by the City of
Lubbock and delivered to P. F. Brown in part payment of 100
acres of land in Section Three (3), Block 0, in Lubbock
County, Texas, for purpose of acquiring said lands for use as
public parks. The said City is to pay said P. F. Brown a total
consideration of 10,000.00 for said lands, to be paid for as
follows: 963, 000.00 cash, and the aforesaid warrants in the
amount of �7,000.D0. Said 100 acres is described as follows:
BEGIN JTITTG at a point 30 feet south of the N. -N. cor-
ner of Survey 3, Block 0, for the north,,,nest corner of this tract;
Thence south 1237.5 feet to a point for S.W. corner of this
tract; Thence east 3520 feet to a point for the S.E. corner of
this tract; Thence north 1237.5 feet to a point for the N,Ee
corner of this tract, said point being 30 feet south of the
north line of said Survey 3, Block 0; Thence west 3520 feet
to the place of beginning, containing 100 acres of land.
If at any time, bofore the 21st day of September,
1.935, being the fixed date for the issuance of said warrants
as aforesaid, as many as ten per centum (101o) in number of
the qualified property taxpaying voters of the City, whose
names appear on the last approved tax rolls as property tax
payers, petition the governing body to submit to a referendum
vote the question as to the issuance of bonds for such pur-
pose, then such governing body of the City shall not be author-
ized to make said expenditure, and shall not purchase said
land, or finally award said contract unless the proposition to
issue bonds _for such purpose is sustained by a majority of
the votes cast at such election; upon the filing of such pe-
tition, the Board of Commissioners shall, at the next meeting
thereof, order an election to be held in said City to deter-
mine vjhether or not said proposed bonds shall be issued; but,
in the event no such petition is filed, the Board of Commission-
ers shall pass and adopt all necessary orders and resolutions
authorizing the issuance of the proposed warrants and providing
for their payment, and will execute all contracts or other
instruments necessary to the purchase of said land for use
as public parrs.
Published by order of the City Commission of the
City of Lubbock, Texas, this 5th day of Septem or, 1935.
ATTEST:
,ST .
.
WW4&Z,21�, -
T,.Iay r Pro '_em, City of Lubbock,
Texas
City Secretary
(2) That said notice shall be published in the neivs-
paper designated once each tiveel for at least tuo weeks, the
date of the first publication to be made not less than fourteen
(14) days prior to the date fixed for the passage of said ordi-
nance and the letting of said contract.
(3) Said notice shall provide for the acceptance of
bids, the purchase of said land, the passage of said ord i.r_ance,
and the execution of said warrants on the 21st day of Septem-
ber, 1935.
(4) The Mayor and City Secretary are instructed and
directed to do any and all things necessary and/or convenient
to carry out the purpose of this resolution.
Passed, adopted and approved this 5-aZday of Siep-
tember, 1935.
ATTEST:
Ci t;,- Sec_-etary
��VLd
llalror,/CitIT of Lubbock, Teas
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