HomeMy WebLinkAboutOrdinance - 236-1923 - Bonds In City For 75,000 Bearing Interest Payable At No Greater Than 6% - 10/11/1923)
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ORDINANCJr No~ ~ £,
AN ORDINANCH whereby the question if Bonds of this City shall
be issued in the sum of $ 7J:o()fJ;oD bearing interest pay-
able semi-annually and at a rate not greater than Six per
cent, such bonds to be payable serially over a period not
greater than F·orty years. for the purpose of building a
Oi ty Hall for the City of Lubbock •. sh~l be submitted. to
the duly qualified. property tax paying voters of the: City;
fixing the time and place of such election. providing for
notice thereof. the form of the ballot and the officers to
hold the same; and declari~ an em~rg ency account of the
City having no sufficient place to keep its prope.rty and
records:
Be it Ordained by the City Commission of t~e City of
Lubbock. Texas;
Section 1. An electio~ is hereby orde.red to be held wit~~: ...
this City of the7.-~ or?'7~923, a~ f~~
on the regular hours for holdi~ elections. whereby the
duly qualified propertJ tax payi~ voters of this City may
determine if Bonds of the City shall b~ issued in the terms
and for the purposes hereafter set out.
Section 2. Said Bonds to be in the. sum of $fJooo .• s
to bear interest payable semiannually at a rate not greater
than Six per cent, and payable serially over a pe.riod not
greater than forty years from their date. for the purpose
of buildi~ a City Hall to contain the offices. records and
property of the City.
Section 3. Those voting at such election and desiring to
vote in favor of the is-suance of such Bonds s·hall have
written or printed on their ballots "For the issuance of
bonds in the sum of $ 7$ OtJo~,. for fHt&~urpose of building
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of a City Hall. arrl the l~vy of a tax to pay the interest
as it accrues. and creating a sinking fund to retire such
bonds as they mature". and those oppose -d to the issuance of
such bonds shall have written or printed on their ballots
"Against the issuance of bonds in the sum of $ 7JootJ!9 for
the purpose of building a City Hall, and the levy of a tax
to paj the interest as it accrues and creating a sinki~
fund to retire such bond .s as they mature"; and if a m.ajori ty
of the voters. voti~ at such ~lection shall vote in the
favor of issuance the-reof, such bonds will be issued for
such purposes_ and a tax levied upon all p~~rty within the
city subject to taxation sufficient to pay the interest as
it accrues and to create a sinki~ funds to retire such
bonds as they mature.
Section 4. A duly certified copy o£ this Ordinance
published in a proper newspapers within this City. and
duly poste.d at three public places within the City. for
thirty days preceeding such election shall be sufficient
notice thereof.
Section 5. The followi~ persons are hereby appointed as
judg£s to hold such election fG. q Q ~~ c/H. LJJ.
ro~, ~ ~ {. ~u/
and they shall mak£-return thereof as the law directs.
Section 6. The fact that the City has no place to house
its property and r€cords and no offices for its officers
creates an emergency and public necessity that the rule of
the Charte·r requiring an Ordinance to be read at two several
meetings before its passage be, and the same is. hereby sus-
pended and this Ordinance be passed. at the: meeting of its
introduction by unanimous vote.
1923.
Attest
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Passed and ppprove<l this the-11 day of October.
• City of Lubbock,
Texas.