HomeMy WebLinkAboutOrdinance - 230-1923 - Issuance Of Warrants Under Contract For Waterworks And Sewer Extension - 08/23/1923!'her oriNllan c e :f'Ci:tows:
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APEBOV'BD. thl.8 · •• ~ ~ a.;, o:f Al~S'a~. u..
u
DB S!'~E OF !rEUS)
OOtmi'r OJI UJBBOOltl
~--J-. ll. Ge'I'MJV' • -Clt;v Seofttal7 o-1 the Cit;.y d
Lubb~at. ,._., 4o hereJ:v oezotti) that the ~oms~ I.B a
true_. fT41 aa4 ...... , oow o1 the !lt.n1lte8 of the Ol_. Oom-
miss1ou. ot the OJ.t7 of Lubboot •. ~exas~ ·~ the. pasaaso o~
the ol!it•zvut theN!n JDGDU.o:ne4_. aa the aame appea:n o£ recto!4
1D Book ., ~ ·et seq •.• of' the Ulmltee o~ aa14
Oi tq CoaoSasla.
WIUESS 11Y IWm AlJ.!) SElia OF OFFio-E. this the ... -..__
~ of ______ _.. ltm.
(Oift SEAL )
3Ri !iiiii"" •. clti ol tiib&iit.
~ezaa.
ORDIH&BCB HO. !30 •
.... j • ..
A1f ORDINANCE Atrl'HORIZING THE ISSUANCE OF WARRABTS tmDER CONTRACT 07
DATE lfOVEJmER !rd, 1922, BBftEEB THE CITY 07 LUBBOClt• TEXAS, AliD THE
.TABES COJrl'RACTIBG .COJ[pAEY• COll'l'RACTOR, IN PAllllUTT FOR ADDITIOltAL
KATERIAL AliD J..A.BOll, INCLUDING ROCK EXCAVATIOll, Ill THE CONSTRUCTION OF
CERTAIH WATERWORKS A!JD SEWER EXTElfSIOliS Ill ABD FOR SAID CITYI IEVYIBG
Tmr BECXSSARY TAX TO PAY THE lliTERRST Aim PROVIDE A SIBKlllG FUliD TO
RETIRE SAID WARRANTS AT MATURITY: ADD DJ:CLARIBG All EllmtGEE'CY.
WHEREAS, the City ot Lubbock, Texas, through ita Kayor and ~tty Seore•
tary, hae heretofore, namely on the 3rd day of Bovember, 1922, entered
into a contract with Janes Gont~cting Compaa.y, Contractor, for the con•
struction ot certain waterworke~and sewer extensions in and for said City,
in accordance with :pl11ns and specific,.tions heretofore adopted b y s a id
City and on file in the office of the ~it7 Secretar.v. which contract
is hereby referred to and made a par~ hereof·J and•
WHBREAS, by ordinance duly a nd legally adopted on the 11th day o~
December, 1922 .• by the City Commission of· s a id Uity. said contra ct was
ratitied approved, confirmed a nd ndo~ted aa the act a nd contrac t of
said (.;ItyJ and,
WHEREAS, under the -terms of S "l.id contrl'\ct additiona l work. agreed upon
b)" both parties. oh,·1:ll be pa.1d for at the unit prices stipula ted in aaid
contract by legally issued warrants of said City. said warrants to
bear six per cent. interes t and to m~ture aeriallYJ and•
WHBRIAS the approximate cost of the material a nd labor necess"l.ry to can-
plete additional u ork agreed upon. including e x tra rock exca va tion,
amounts to the eum of Xbirty Five Thousand Dolla rs ($35.ooo.oo).
NOW, THJ.UUJ:FORE• l3E IT ORDAINED BY TBB CITY ·OJ' LUB BOCK• TEXAS
1~ •fbnt• in accordance with the ter.ms of s a id contra ct, warrants, .
of said City, to be oalled •tiTY OF LUBBOCK WATERl~ORKS k. SEWER EXTUSIOll
WARRANTS, SERIE S 2 of 1923"• shall be issued in the sum of Thint J'ive
Thousand Dollars ($3s.ooo.oo).
2.. Said we.rra.nts ehall be numbered from one (1) to thirty five (35)
inclusive, and shall be in the d -enomia.a~ion ot Oae Thousand Dollars
($1,000.00) each, aggreagti.ng the sum of 'lb!rt7 J'ive Thousand Dollars (t3s.ooo.oo ) ..
3. they sb~ll be 4ated the ___ day of Sept •• 1923• and sha ll become
due and payable as ~o1lowat
WARRAB'f JroMBERS ..
1 a: 2
3, 4 & 5
6 a: .,
8
9 & 10
11
12 & 13
14
15 & 16
1'7
18 & 19
20
21 & 22
23
24 & 25
26
2'7 & 28
29
30 & 31 32
33 a 34
35
IIA!'ORITY DATES
Fe\) •. 12th, 1926
1t • 192'1 • • 1928
It • 1929 • • 1930
n n 1931 •• " 1932 • .. 1933 .. " 1934
" n 1935
tt tt 19:56
" • 193'7 • " 1938 • " 1939
tt tl 1940
tt " 1941 • " 1942 • " 1943 • .. 191g ~ • " 194 • n 19-Q .. " 194'1
.wouns
,2.000.00 :s.ooo.oo 2,ooo.oo l,ooo.oo 2,.ooo. oo 1.ooo.oo 2,ooo.oo 1,ooo.oo 2.,ooo.oo 1,ooo.oo 2,ooo.oo 1,ooo.oo 2.ooo.oo 1,ooo.oo 2.ooo.oo 1.ooo.oo 2,ooo.oo 1,ooo.oo 2.ooo.oo 1.ooo.oo
2,000.00 1,ooo.oo
..
4. Said Warr~nts shall bear interest from d ~te until paid at the rate
of six per centum (6%) per annum, payable Feb. 1• 1924• ~nd semi•annually
thereafter on the let day of Aug. and the let day of Feb., of each yea r.
Past due interest shall be ~r interest at the rate ot siX ~er centum (6%)
p e r a nnum from uatur1ty until paid. Said interest is a part of the
.....
(
......
Ord. I 230 Page 2.
contract price agreed ~o tor the construction of said additional work
and shall be evidenced b y coupona attached to each of said warrants. At
the ttme of delivery of said warran~s, or any of tha., to said Contractor,
said Contractor shall pay to the City Trea-surer the full amount of interest
which has accrued on said warrants trom the date of ~• to date ot such
delivery, which date shall be evidenced by date ot registration of sai 4
warrants b.7 the City Treasurer• as hereinafter provided.
5. Principal and interest of said warrants shall be p~ble at the Con-
tinental & Commercial liational Batlk_. Chicago_. Illinois• upon presentation
and surrender of proper warrant or coupons. Said warrants shall provide
that in the event of default ·in the payment of principal or interest, and·
the sa68 is placed in the hands of an attoraeT for oollectiou, or if ool•
lected b;r suit_. or by legal procee4iDgs of any JdDd, an additional amount
of ten per centum (10.) of the principal an4 interest then due, shall be
added aa attorney's fees.
6• Said warrants shall be signed by the Jlayor• countersigned b ·r the
Cit7 Secretary and registered b.1 the Ciit Treasurer. and the seal of the
City shall be impressed upon e a ch of said warrants. he stm1le signa tures
of the Jlayor and Ci t7 Secretary may be lithographed upon the interest
coupons.
7. The fom of wa r rant shall be substantiall7 as followsa
Bo, tl.ooo.oo
UNITED STATES OF li!ERICA
STATE OF t'EXA8
COUBTY 0"1 LtmBOCX
CITY OF LtmBOCX WATERWORKS & SEWER EXTEBSIOB
W~, SERIES 2 ~F 1923.
THIS I S TO CERTIFY that the City of Lubbock, a I!IUJ11cipal corpora tion in
the County ot Lubboc~ and State ot Texas, under and b y virtue of a valid
and subsisting contract, is Justly indebted to Zanes Contracting Company,
Contractor, its assigns -or bearer, in the principal sum. ot
OHE THOUSAJID DOLLARS
1n lawful moD41 ot the United States ot America, together with i~erest
thereon. from date hereof UD\il paid, at the rate of six ~er centum (6%)
per annumJ intereat pa,able ~eb. 1, 1924, aad semi•annually thereafter
on the let day ot Aug. aad the 1st day ot Feb. ot each yea r1 past due
interest shall bear interest n t the rate of six per centum (6%) per annum
from maturit7 until pa14J both principal and interest payable at the
Continental & Commercial Bational »ank• Chicago• Illinois, upon presenta-
~ tion and surrender of warrant ot·propef6ouponJ and the City Treasure~
of said City is hereby auth orized• ordered and d~rected to pay to the ~d
Janes Contracting Oampasr Contractor• its assigns or bearer, at the said
bank, the said sum o£ One Thousand Dollars (tl,ooo.oo), on the 1st day
of Heb• 19 , the ·d~te -of maturlt7 of this warrant. 1n fUll settlement of
the 1m ebteiiiess hereby evidenced from the •special waterworks & Sewer
lb:tension Warrant J'und• Series 2 o~ 1923•, of: sat d City. levied, assessed
and created for that purpose.
IT IS HEREBY especially agreed tha~ it this warrant, or any interest
coupon hereto atta ched, is not paid at maturit71 and the same ie. placed
in the bands o£ an attorne7 for collect ion after maturity thereof, or suit
is tiled thereon, or collection made b y legal proceedings of any kind,
an additional amount of ten per centum ('l()J) of the principal am intere st
then due, shall be added as attorney•s fees.
THIS WABBAN~ is one of a series ot thirty fiYe (35) warrants, numbered
co~eou~i~ely from one {1) to thirty five (35) inclusive, in the denamina•
tion of Ofte i'bousand Dollars (tl.OOO.OO) each, aggregating the sum of
Thirty 71ve Thousand Dollars ($35.ooo.oo), issue for the purpose of
evidencing the indebtedness of the City of Lubbock to the said Janes
Contracting Company, its assigns or bearer, for additional work in the
construction ot waterworks and sewer extensions in and tor said City, in
accordance with contract between said City and said Contractor, under and
by virtue of the Constitution and laws or the State of rexas, and the City
Cha rter ot the City of Lubbock, Texas, and in pursuance of Ordinance No.
<::!"
Ord. II 230 -Pg.. 3.
230 adopted by the City Commiesion of sa1 4 Ci t7 on the 23rd da7 of
August• 1923, and recorded in Book 3 1 page 141, et seq., of the
Jlinutes of said Ci t7 C ommlssion.
}
THE DAD of this warrant• in oontormit7 with the ordin ~nce above
mentioned, is Sept. lst., 19231 and it is hereby oertif1ed and recited
that all acta, conditions and things required to be ·done precedent to aal
in tbe issuance of this warrant have been properlr done and performed
and have happened in reguln r and due ttme, to~ and manner as required
b7 law, and tha t the total indebtedness of said City, including this
warrant, does not exceed aD7 constitutional or sta tutory limitation.
IB 'mSTDlO:NY WHEREOF* the Ci t7 COIDIIlission of the City of Lubbock t
Texas• baa caused the seal of aa1d City to be hereto affixed a nd
this warrant to be aiped by the ][ayor and countersigned by the City
Secrsar,y, as of the 4 qte last above written.
COOBtERSIG'lllmt
City secreta ry. elty of
Lubbock, Texa s.
L yor, bl£y of LubbOck.
i.exas.
REGISTERED, this _ day of -----
dliy !reaeurer , city of LUbbOck,
rexae.
The for.m of 1•terest coupon shall be substantially as ~ollowaa
Bo. f 30.00
Oll TBi 1st DAY OJ' • 19 ~ the Ci t7 of Lubbock, !'exa a,
will pay to Janes Contracting Caapany~ontractor. ita assigns or
bearer, a~ the Continental & Commercial Bational Bank• Chicago• Illinois,
the sum o~ Thirty Dollars ($30.00). being a1x months• interest due that
day on Cit7 o~ labbock Water Wo'1"ka & Sewer Extension Warrant, Series
2 of 1923, llo. • da-ted Sept. 1, 1923.,. to which thla coupon ia
~ttached and ia a p a rt thereof.
lay or
Ci £y secretary ..
The following aaaigament shall be p .rinted on the book of each ot
s a id warra.nta1
ASSIG1m:B1ftl ..
This is to c ertif'y that ,Janes Contracting Company hae recel ved the
within principal Waterworks & Sewer Extension Warrant·, and the int•
ereet coupons thereto annexed, from the City of Lubbock,Texas, and for
value received• hereby transfers. assigns. sells and delivers, ~ith
out recourse. to W.A. Kyrick, all righ~ title and interest it haa
in and to the ~e, and also the proportionate part of said contract
price and the debt due it, with interest thereon, by said Ci\7, which
is represented b7 the amount called for b7 this principal warrant
a nd the annexed couponsJ and said w.A. Kyrick is hereb7 subrogated to
all claims, liens, right, or title, whether in law or in equ1t7• which
are or ma7 be secured to said J'anes Contracting Compa~ in said contract
and it hereby auth orize• him to collect the same and give fUll receipt
and acquittance thereof in its nam.e.
J.A.li.ES CO:RTR ACTING COJIPABY,
~y -------------------
'
Ord. II 2~ •. Pg. 4.
I hereby assign• sell and deliver, ry ithout recourse, to bearer• all
right• tital and interest I have ·in and to the a bove me ntioned warran~
aa4 amexed coupons. "
..
8. Said warrants shall be executed and delivered to s a id Contractor
on estima tes o~ ma terial furnished and labor performed by said Con-
tractor and accepted by said Cit.Ye prior to the date of such estima tes.
Said estimates shall be duly audited and after inspection and accept-
ance of said material and labor by the City commission, the anount of
said esttmates shall be allowed and warran~s herein authorized executed
"l nd del~ vered t.o said laue a CoDt.racting CompaiJ1' for the f"ull amount o~
said estimates ..
9. 11'' IS FtlRTBER ORDAUED that a flDld be and tbe same ia hereby made and
crea ted and sh~ll be s e t aside and designated as •sPECIAL WATERWORKS & SEWER
EX'l'DSIOB WARRAB'l' FtmD SERIES 2 OJ' 1923•, wh-ich flmd when collected shall
be used to pay the interest and provide the necresea ry si.Dld.ng fund to pay
said warrants at maturi t:r. a nd for no other purpo seJ t hat to crea te a•14
1UDd for the purpoee or paJing the in~erest on s a id warrants a nd providing
sufficient sinking fUnd to p a y them at ma turity. a tax of and at the
rate o'f seven cents (7.¢) on the $100.00 valuation at all taxable properly
in said City shall be anauall7 1~1e4• assessed aa4 collected, and said
tax is here now leTied for the current y e a r. a nd 8 0 much there of as shall
be necessa ry tor ~ e ~ch succeeding ye n r whi l e s a id warrant. or any of"
them are outstanding and unpa id9 and the s ame shall b e annua lly assessed
and collected and applied to the purpoae named.
10. Tb.taot that tbe Ci'y o'f Lubbock is in urgent need of" the water-
works and Sewer extensions h e rein contempla ted. crea~es an emergency and
an imperative public neces sity th~t the rules requiring ordinances to be
read at more than one me eting of the City Commission be suspended, and it
is eo ordained, and tbia ordinance sha ll t a ke et'fect and be in force
from and after 1 ts passage and approft'l •.
Passed this tbe 23r4 day of Augue~. 1923.
Approved, this the 23rd day of August, 1923.
ATTEST:
J:,R. Geiii! c1 t7 seore&ry.
City ot Lubbock., Texaa •.
,•
P. Spencer
'Lyor• Ct£y of
Lubbock.!exaa
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