HomeMy WebLinkAboutOrdinance - 211-1922 - Authorizing the Issuance of Bonds for the Principal Sum of $100,000 - 07/24/1922ORDINANCE NO. 211
A BOND ORDINANCE FILED WITH BOND ORDINANCES. THERE ARE TWO ORDINANCES NO.
211.
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ORDIWCE NO.. 211.
"Alai ORDINANCE BY THE CITY 0DIMISS20N
OF TM CITY OF LVBBOCK* TEAS*
AUTHORIZING THE ISSUAWCE
OF BONDS FOR
THE PRINCIPAL SUM
OF ONE
HUNDRED THOUSAND DOLLARS
($ 100s000,00),
for the rurpose
of rebuilding*
extending and improving
the SFxit- ry Sewer System.; providing for
the levy,assessment and
collection of a sufficient tax
on the one
hundred dollars• valu�_,tion of all taxable propert7 !,ithin the limits
of said city to pay the
interest ind
ereste a sinkingfund for the redemp-
tion thereof; prescribing tkie form of
bond -snd interest
coupons; and
declaring an emergency."
BOWD MMERS
MATURITY DAT9
ANOL
49-50-►51
February It
1941
-S 3 0,000. 00
52-5&w54
lj,
1942
30000.00
55-56-57
1t
1943
3t000.00
58-►59-60
" 10,
19"
3 * 000. 00
61-62*►63
" it
1944
30000,00
64,*65*-66
1t
1946
3*000.00
67-68-69
1*,
1947
30000.00
70-71-72
# 19
1948
3*000,00
73-74o75
14
1949
3.*.000.00
76-77-79
" It
1950
3t 000. 00
79- O-081
r 3t
1951
3*000, 00
82-83-94
" 1t
1952
3t000.00
85*+86-87
" 1t
195S
3, 000.00
88-89-&90
It
1954
3tOOO,OO
91-92-93
" 1 *-
1955
30000, 00
94-95
it
1956
20000.00
96-97
19
1957
?* 000. OO
98-►99
1t
1959
20000s00
100
" It
1959
1t000000
Section 4. ThAt they shall bear interest ,at th•-� rate of FIVE AND ONE-HALF
RER. MN (5-1 2% per annum,, payable semiannually on the FIRST DAY OF
FEBRUARY and the FIRST DAY OF AUGUST# in each year.
Section 5• That the principal and interest of said series of bonds shall
be payable irz lawful money of the United States of America on presentation
and surrender of bond or proper coupon at the HAN0VER NATIONAL BANK*.
New Yorks N•Y.
Section 6« That each of said bonds shall be signed by the mayor, counter-
signed by the city secretary$ and registered by the city treasurerp.
and the corporate seal of the "City of Lubbock" shall be impressed upon each
of theme
Section ,e* That the form of said bonds shall be substantially as follows:
11fi0..UNITED STATES OF AMERICA $10000.00
STATE OF TEXAS
COUNTY OF LUBBOM
CITY OF LUBBOCK SANITARY SCR RYSTEM BOND SERIES OF 11922
KNOW ALL MEN BY THESE PRESENT: V"at the City of Lubbock, in the
County of Lubbock, State of Texas, a municipal corporation duly incorporat-
ed under the laws of the State* of Texas* for value received* hereby
promises to pay to the bearer hereof
ONE THOUSAND DOLLARS ($1#000.00)
in lawful money of the United States of America, on the First Day of
September# 19 � t with interest thereon from the date hereof at the
rate of Five and One-half Per Cent (5 1/2%) per annum* payable on the First
day of February and the First day of August.* in each year* on presentation
^.nd surrender of the annexed interest coupons as they severally mature,
BOTH PRINCIPAL AIM INTEREST of this bond are hereby made payable at the
HANOVER NATIONAL BANS* New York* N.Y.! and for the prompt payment of this
bond rand the interest thereon at maturity* the fall faith* credit and re-
sources of the City of Lubbock* Texas, are hereby irrevocable pledged.
Ord. # 211 - Pg. 2.
'i'HIS BOND is one of a series of one hundred (100) bonds, numbered conse-
cutively from one (1) to one hundred (100), inclusive, of the denom-
ination of ONE THOUSAND DOLLARS `IF000*00) each, aggregating the sum
of ONE SMRED THOUSAND DOLLARS ($1.1,0091,000) issued for the purpose of
rebuilding, extending and improving the Sanitary Sewer System of said
city, under and in strict conformity -,with the Constitution and laws of the
State of Texas and the City Charter of said City, and pursuant to an
ordinance number 211 adopted by the City Commission of the City of Lubboc4
Texas, on the 24th day of July, 19229 which ordinance is of record Book
Ss page 96w78-9-80-1 et seq., of the Minutez of the City Commission.
IT IS HEREBY CERTIFIED AND RECITED that the issuance of this bond, and the
series of which it is �= part, is duly authorized by lae: and by vote of the
qualified property tax« -paying voters of the City of Lcibbo-ck, Texas,
voting at an election held for that purpose within said city oiAhe
l8th day of July, 19221 th,t all acts, conditions and things required to
be done precedent to and in the issuance of this series of bonds, and of
this bond, have been properly done and performed and have hapreaed in
regular and due time, form and manner as required by laver; that sufficient
and proper provision for the levy and.colleetion of taxes has been made
which when collected shall be appropriated exclusively to the payment of
t'.is bond, and of the series of which it is a partw. and to the payment
of the interest coupons thereto annexed as the same shall become duet,
and th=,t the total indebtedness of said City of Lubbocka Texas, ine-uding
the entire series of bonds of which this is one, does not exceed any
constitutional or statutory limitation.
IN TESTIMONY M ER OF, the City of Lubbock* Texas, by its City Commission*
has caused its corporat- seal to be affixed hereto, and this bond to be
signed by its Mayor,, countersigned by its secretary* and registered
by its city treasurer* and the
Section 131
The fact th^t the City of Lubbock, Texas, is badly in need of the impr-
ovements authorized by the bonds herein described, and the fact that such
imprcwement is necessary and will be to the best interests and gtxmeral
welfare of the said city., create an emergency and an imperative public
necessity that the rule of the City Charter requiring an ordinance to
be read at two several meetings before final passage, be suspended,
and IT IS ORDAIN D that this ordinance shell take effect ~end be in force
immediately upon passage and approval.
Passed and approved this the 24th day of duly* 1922.
PerpZ S eneer
Mayor, city or Lubbock, Texas.
Attests
y— Secret —pry,