Loading...
HomeMy WebLinkAboutOrdinance - 212-1922 - Ord. 212 Was A Bond Ordinance Filed With Other Bond Ordinances - 07/01/1922ORDINANCE NO. 212 ORDINANCE NO. 212 WAS A BOND ORDINANCE FILED WITH THE BOND ORDINANCES. 1W OFt�INAN N . 212. "AN ORDIIMNCE by the City Com:aission of th City of Lubbock, Texas,. authorizing the issuance of bonds for the principal scam of ONE HUNDRED THOUSAND DOLLARS 0 100#000.00) for the purpose of rebuilding* extending and improving the Sanitary Seger System; providing for the levy, assess- ment and collection of a sufficient tax on the One hundred Dollars* valuation of all taxable property within the limits of said City to pay the interest and create a sinking fund for the redemption thereof; prescribing the form of bond and interest -coupons; and declaring an emergency." WHEREAS, at an election held in the City of Lubbock, Texas' on the 18th day of duly, 1922* a majority of the qualified voters, who are property taxpayers of the City of Lubbock, voting at said election, sustained the proposition to issue the bonds hereinafter described for the principal sum of ONE HUNDRED THOUSAND DOLLARS ($100,000,00) by a vote of 2980 in favor of the issuance of such bonds, and 39 against the issuance of such bondst THEREFORE, BE IT vM In BY THE CITY C0,11MISSION OF TH s CITY OF LUBBOCK* TEXAS Section 1, That the bonds of said +city,, to be called "CITY OF LUBBOCK SANITARY SEWER SYSTEK BONDS Series of 19220 be issued under and by virtue of the Constitution and Laws of the State of Texas' including the Charter of the City of Lubbock, for the purpose of rebuilding, extending and improving the Sanitary Sewer System of said City, in the principal sum of ONE HUNDRED THOUSAND DOLLARS ($1000000.00). Section 2% That said bonds shall be nwnbered consecutively from one (1) to one hundred (100) inclusive* shall be of the denomination of ONE THOUSAND DOLLARS ($1#00000) each, aggregating the sum of ONE HUNDRED THOUSAND DOLLARS s ( 1004.0Oo* 00) , Seotion 3. Th^t said bonds shall be dated the FIRST DAY OF AUGUST* lg22, and shall become due and payable serially, as follows, to -wits BOND NMEBM X4 TURITY DATE AMOUNT 1-2.►3 February 19 1925 3*000*00 00 7-8-9 " it 19211 39000.00 10-11-12 " i, 1928 39,000*00 13-14+►15 i; 1929 3v000.00 16-17-18 1, 1930 3,,000.00 19-20-21 +► 1, 1931 3*000*00 22-23-24 1, 1932 30000,00 25-26-27 " 1, 1933 3*000*00 28-29-30 " It, is 1934 1935 3,.000*00 3*000*00 31-32-33 34-35-36 " 10 1936 30000.00 37-38-39 10 1937 31,000.00 40-41-42 ° 10 1938 39000,00 43-44-45 " 1, 1939 3*000.00 46-47-48 " 1* 1940 3,.000.00 49-50-52 � is 1"1 30000*00 52-53-84 " it, I, 1942 1943 3,000.00 3000000 55-56�57 58-59-60 " Is 1944 3#000*00 - a It. 1,. 1945 1946 30000*00 3v,000,00 64-65-66 67-68669 " 1, 1947 3w000.00 70-71-72 is, 1948 30000.00 73-74-75 19 1949 3,0':0400 76-77-�� a 10 i, 1950 1951 39000,00 30000*00 82-83-84 " 19 1952 30000*00 85-86-87 '� it ma 30000,00 Ord. # 212, Page. 2, BOND NMVRS MATURITY DATE AMOUNT 88-89•►90 Febru• ry is 1954 1 30000400 91-92-93 " is 1955 3* 000.E 00 94-95 a 1# 1956 2#000000 96-97 a It 1957 2,On0.00 98-99 n 10 1958 2 # 000.. OO 100 ° 1.s 1959 1#000s00 Section 4.' Th,*t the shall bear interest at the rate of FIVE AND ONE- HALF PER CENT ( 5 1/2;1 per annum# payable semi-annually on the FIR: T DAY fF FEBRUARY AND TfiE FIRST DAY OF AUGUST, in a-ch year, Section 5. That the principal and interest of said series of bonds shall be payable in lawful money of the united States of America on pre- sentrztion and surrender of bond or proper coupon at -the HANOVER 2RATIONA.L BANK# Kew York* N*Y. Section 6o That each of said bonds shall be signed by the Mayer, countersigned by the GZy Secretary# and registered by the City Treasurer, and the corporate sea]. of the "City of Lubbock" shall be impressed upon each of them. Section 7. That the facsimile signatures of the Mayor and City Secre- tary be lithographed on the interest coupons attached to said bonds, and shall have the same effect as if such coupons had been signed '�y them. Section 8o That the form of said bonds shall be substantially as follovw NW. UNITED STATES OF AMERICA $10000*00 STATE OF TEXAS COUNTY OF LUBBOCK CITY OF LUBBOCK SANITARY SEW R SYSTEM BOND SERIES OF 1922 KNOW ALL MEN BY THESE PRESENTSs That the City of Lubbock, in the County of Luibbock# State of Texas* a municipal corporation duly incorporat" ed under the laws of the State of Texas, for v-slue received, hereby promise to pay to the bearer hereof ONE THOUS Ida DOLLARS ($$I*800.00) in lawful money of the united States of America, on the FIRST DAY OF FEBRUARY9. 19 # Tvith interest thereon from the date hereof at the rate Of FIVE AND ON HALF PER C= (5-1/2%) per annum#. payable on the FIRST DAY OF FEBRUARY and the FIRST DAY OF AUGUST# in each year, on presentation and surrender of the annexed interest coupons as they severally mature: BOTH PRINCIPAL AND INTEREST of this bond are hereby made payable at the HAfi OVRR NATIONAL BLNTs, New Yorks N.Y. s and for the prompt payment of this bond and the interest thereon at maturity, the full faith, credit and resources of the City of Lubbock, Texas* are hereby irrevocable pledged. THIS BOND is one of a series of One Hundred (100) bonds, numbered consecutively from one (1) to one hundred (100) inclusive, of the denomination of ONE THOUSAED DOLLARS $1#000:00) each* aggreg ting the sum of ORE HUNDRED THOUS UM DOLLARS (100#000*00) issued for the purpose of rebuilding, extending and improving the Sanit-sry 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 CE-ty# 3.nd pursuant to In ordinance number 2129 adopted by the Oity Commission of the %;ity of Lubbock., Tex s, on the 24th day of July* 19220 which ordinance is of record .Book 3# p ge 76#771,78*79#80 -ind 81, et seq,, of the to nutes of the (-ity Commission, Ord. # 212. fg. 3. IT IS HEREBY CERTIFIED AND RECITED that the issuance of this bond, and the series of which it is a pert, is duly authorized by law and by a vote of the qualified property tax -paying voters -of the vity of Lubbock,. Texas, voting at an election held for that purpose within said City on the 18th day of Tulyp 1922; that all aetep conditions and things required to be done precedent to and in the issuance of this series of bonds, and of this bond, h• ve been prop-rly done and performed -,nd have happened in regular and due time,, form and manner as required by law; th•t sufficient and proper provision for the levy ,nd collection of taxes has been made which when collected shall be appropriated exclusively to the payment of this bond, and of the series of which itis a parts and to the payment of the interest coupons thereto annexed as the same shall become due* and th-t the total indebtedness of said Oity of Lubbock# Texas# including the entire series of bonds of which this is one, does not exceed any constitutional, or statutory limitation. IN TESTIMONY 71MRLOF, the City of Lubbock# Texas, by its City Commission has caused its corporate seal to be affixed hereto# and this bond to be signed interest cou ons hereto att°-ched to be executed by the lithographed signatures of the ma or and the city secretary; the date of th, bond, in donformity Atix the ordi:-ance above referred to# being the FIRST DAY OF AUGUSTb 1922o Countersigneds Refistereds ayors City of LubSck.q.Texas. CITy searifary, City of Lub oc , Texas: y reasurer# gity of Lub oc # exase Section 9. That the forth of interest coupon shall be substantially as follows: Non, ON THE FIRST DAY 7 FEBRUARY (or AUGUST) 19 �, $27..50 the City of Lubbock, Texas, hereby promises to pay to bearer at the HANOVER RATIONAL BANKS New York*. N&Y.# the surf of TWENTY SCVEE' AIM 50/100 DOLLARS (1.27.50), in lawful money of the United States of American being six months* interest on tfe City of Lubbock Sanitary Sewer Bond, No._"„s. dated August 11 1992 2. ayor' Uity of Lu ock, texas. My- Seeretarys, Uity of Lub oc , Texas. Section 10., That the following certificate shall be printed on the back of each bonds OFFICE OF COMPMOLLER STATE OF TEXAS I HEREBY CERTIFY th-1 there is on file and of record in my office a certificate of the Attorney General of the State of Texas to the effect that this bond has been exam- ned by him as required by lass and the he found that this I I has been issued in conformity with the Constitution and laws of the State of Tex-ss and the City C- arter of the City of Lubbock, Texas# and that it is a valid and binding obligation upon said City of Lubbock# Texas, and said bond has this day been register- ed b`r me. Ord. 212 — Pg. 4, WITMSS MY HARD AND seal of Office, at Austin,, Texas,, this the day of t 1922, Comptroller 6f M lie Accounts of Me State of Texas. Section ll. E IT EiPHORDAIMM By THE CITY CMMISSION of the CITY OF LUBBOCK, TEXAS,, That to pay the interest nn said bonds and cre-ite a sinking; fund sufficient to redeem them at maturity a tax of SIXTMN AND SIX —TENTHS CENTS C*166) on each one hundred doll;: rs t valuation of tgxable property in the said City of Lubbock, Tex-.s, shall be annually levied on said property and annually assessed and collected, or so much thereof as may be necedsary, until said bonds with interest thereon have been fully paid, and said tax of SIXTMM AKD SIX -TENTHS CENTS (.166je) is Mere now levied for the current ye-r, and so such thereof as may be necessary for each succeeding year while said bonds are outstanding, and the same shall be assessed and collected for th � current year, and so much thereof as may be necessary annually therea-Fter, and applied to the purposeimed, Section 12. IT IS FURTHOR ORDAIEED that Percy Spencer, the rayor or Rohe Bowden City Attorney of said City, shall be authorized to take and have charge of all necessary records pending investigation by the Attorney General and shall take and have charge and control of the bonds herein authorized pending their approval by the iAttorney General and registr tion by the Comptroller of Public Accounts, Section 13. The fact that the 4,ity of Lubbock., Texast is badly in need of the improvement authorized by the bonds herein described, and the fact that such improvement is necessary and will be to the best interests and gener 1 welfare of the said City, creates an emergency and an imper- ive ublic necessity that the rule of the City Charter requiring an ordinance to Ue read at two several meetings before fim l passage,, be suspended, nd such rule is hereby suspended, and IT IS ORDkIWIED that this ordinance shall t-- ke effect and be in force immediately upon its pass.zge and approval. PASSED AND APPROVED this 24th day of Tuly, 1922a ATTEST,, Ci y Necretary. ayor# City of 7,u 1 oc , Texas.