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Home My WebLink AboutOrdinance - 245-1924 - Tax Rate Levied For The Year 1924. - 01/28/1924'~ v Ordinance No '?11 ~ AN OBDINANOJ to IJI!lend Section 7 of Ordinance No :u/?.fpassed and appro•ed December 20i 1923. so that the tax rate there leried for the year 924 shall be the sum of c~nta on each $100.oo valuation of taxable pro:perty within thia City. in order that the installments of Interest due Jllllf" 20, 1926. on the bonds set out and ordered issued by such ~rdinance shall be pl'GIIf:f)ly met. and th• ai.nkic fund increased in proportion. ana rtpealing all ordinances and parts of ordiDanCea in com.flict herewith. and declaring an eme~ncy ace onnt of the purchaser of such bonds being ready to accept same, and making such amendment effect as of Deeemb~r 20 1923. Be it ~ldained by th£ City Commission of the City of Lubbock, Texas: Section 1. Section 7 of ~rdinance No 243 passed and ~proved December a>. 1923. shall hereafte1r read as follows; ... "Section 7. To pay the interest on such bonds as it accnxa and to create a sinking fund to retire them at their seYeral maturities. a tu of 10 cents on each flOO.oo Taluation of taxable prop~rtiy within this City IS h~reby leyied for the 1•ar 19~. and a sufficient sum the-r!after each year until the purpose for which such le~ is instituted shall have been accomplished, or suffici~nt sum raised thereby to disc~ the Interest as it accrues. and to retire the bonds at their several maturitiesm and which fund. when collected. shall be ex~ pended for no ~ther purpose." Section 2. All ordinances and parte of ordinances in conflict herewith an repealed, and it is plt)vided that this ordinance when passed ana approved s~ll be effective as of December 20. 1923. the date of ~rd1nanct No. • Section 3. The fact that the purchaser of such bonds is ready to acc~pt same. and that the rate !e.: vied in Ordinanot No 7r&J is not sufiicient to pay the interest due in June 1924. and create a proportionate sinking fund. creates and energoemcy and public necesai ty that the rule of the charter rtqu1ring Ordinances to be read at two several meetiP88 before passage. be, and the same is. hereb3 suspended and th1s · ordinance bt passed at the •eeti~ of its introduction. and it is so ordered. PaSsed. aDd approve-d. this ~(df.J of Jan---_, Q Mayor City of City Secretary. City of Lubbook, Texas. Attest J ORDIBABCE llo. 245 All ffi DINA.liCE TO AliBlm SBCTIOB '1 0"1 ORDIBAJC E Jro. 24~ PASSED AED APPROVED DECRUBER 20,. 192Z, SO mAT THE TAX ltATE '.mERE .IBVDD J'<E THE YEAB 1924 SHALL BE rHE Stll OF CD'.l'S Olf EACH $100.00 VAWA1'IOll 0'8 TAXABLE PROPERTY, Wli'JI.Ili THlB ·crrr. IB ORDER THAT mE IJS TAI.t.Vl{BTS OJ' INTBRBST DUE JlJlm 20• 1925• OlT TBE_,JIOBDS SEt OUT Al'm ORDERED ISSUED :BY SUCH CEDill.AliCE SHALL BE PIU*P1'LY DT, AND THE SIBKING FtmD INctmASED IN PROPCRTIOll9 . AllD REPEALtliG ALL ORDIWABCES AliD PARTS 07 ORDIXAJJCES IN CONFLICT HEREWITH, Aim DECLARING A1i ImERG!!:NCY ACCOUNT OF THE PURCHASER OF SUCH l301IDS BE:ING READY TO ACCEPT SlUE• AliD J.UK IlG SUCH AliBJIDllENT EFFECT AS OF DECEJIBE Cl 20• 1923• lm I' ORDAINED BY THE CITY COJIIliSSIOll 0~ THE CITY o-. Ltlli30CK• TEXASI SECti ON 1. Section ? of Ordinance Bo. 24~ passed and approved December ·20, 1923• ahalr hereafter read as tollowst Section ? , To pa7 the interest on such bonds as 1 t accrues and to cre ~te a sinking ~und to retire them a t their severa l m ~turitiee, a 'taX of 10 cents on e a ch $100.00 valua tion of 'bxable property with- in thi~ City is hereb7 levied for the y ear 1924• and a Bnr~ieient sum therea ft er e a eh y.e a r until the pu~GB e tor which auch le 'VY is insti- tuted shall have been accompljShed, or sufficient sum raised thereby to discharge the interest as it accrues, and to retire the bonds at their several maturities a nd whkth ~und 9 when collected, sbtll be expended for no othe r purpose.• Section · 2. All ordina!X! es a nd parts .of ordina.m es in conflict herewith are :repealed, and it is provid:td~hat this ordinance when pa~sed a nd approved sha ll be effective as p_f December 20, 1923.,. the d a- ct Ordinance ~o. • ~ · Section 3.. The r a ct tha t the purchase r of such bonds is rea~ ~o accept same, and that the rau levied i D Ordinance lio. 243 is not· B111;fic1ent to p ay the in-terest dUe in J'un~. ·lt924f; am create a proportionat ~ sinking tund, crea tes nnd emergency ~nd public necessit7t that the rule o'f charter requiring Ordinances tobe read a't twos everal meetings before paaeage. be, and the s~e is. hereb7 suopended and this ordinance be passed at the meetiDg o~ ita introduction, and it is so ordered. Passed and approved this 28th drq of ..TaDuaey, 1924. ATTESTs Ci t:r Secretary. C 1 ty o'l Lubbock, Texas. Percy Spencer .• Mayor,. City of Lubboek, :fexa.s. . .,..