HomeMy WebLinkAboutOrdinance - 251-1924 - Issuance Of 6% Interest Bearing Warrants. - 03/24/1924CJ
ORDil'fA!roB BO. 261 •
. ..
!he 01 't7 ComrratafllCJD . ~-the OS \V of Lubbcok fexas • wta
CJOJl't"t»:led ill re~ a..ald.OD U .. 01-la.U• 1n the otb-o~ LU)bCD. t ,,
!~. ~D the 2&th ~ ot llaroh. 19~ h._, __ B. G. Loft, Da.;vor
Pro t'enpore, w. s ~ Pes' ••. J .. O. Jones an4. Ceo. O.. Wo1Uartll . Oaa-
mtaatcmere. C14 1:. B.. ~, 01.~7 Seoreta.T7 .. wbc the 'folloRag
prooeedlDga .• amang otJ»n. ,rare haA, to-wit~
there 1l(a8 pJ"~GJlteil to .. passage fll orcUnan.oe ent1tle4,-
nAn CRDIIUBf.lE PROVIDilfG FOR THE lSSU.ANOB OF SU PER OEB!. (6~) IB-
TEB.ES!l URARIBG YURRA!f!S lPOli TO PlmPOSE G:B' i'DBDDlG OER2AIB V.ALD>
OUTSfAND l.NG IllDEB'l.ElUlESS O.i' DE Olft OF WBBOOX. fl:U34 LEVYI.HQ TRE
BEOESSARY fAX !00 PAY ~aE UF~ ABD· PROnl>E A SlmlJG FDlJD fO RE-
TIRE SAID WAlUWlfS A~ ltA.!OlUTY: ABD DEOURIDG Aif mtEB GENOY."
Uoved 'b7 OOIIIIiaa10D.eT Poee7. eeoolde4 by OG.IJDd.s81oau-
Jonee~ that the or41JlallOG be -.4 in fdl. Ltotlan e~ed• anA the
or41n&DOe. was ~eat 1Jl fUll b7 the Oily secmotaJ7. · .
l!OYe4 bJ' Oomudaalcae.:r Wo1Huth,._ eeoon4e4 by Oomm1aa1onar
PO&e7, that the ord1D$11)e pasa 1ts first naG.J.DB:
uot1on oan.-1e4.
Y.EAS1 Oaanlse1onera Fo.,-• .lone a & Wolftar,h.
NAYS: Boae.
lil<A'84 b7 CJommlas1onor Jones, stactonie4 b7 00111DiEJe1oner
Wolffarth. ~hat the nles be suapended o.u4 the ort\Jnanoe be plmM4
on 1 ts aeo:oD4 %'8a41J:ag b7 oapt~OD:
ltotion our!H..
Y.EA.S : Oommla.aJ.oners Posey. Jon&& & Wolftarth ..
BAts: llor».
Lro-..4 b7 OODIIII\&s1 oneJ' Pose;v, aeooaded b7 OOIDID1SB1one:r
Jones. that-the or4\Pa.aoe be plaoe4 aa s.u thll:'Cl and 11J1al reading
by a·a ptlOJU · ·
' ~· ~
'UAS: 00Irllf4s8Lonere P088T • Jones & Wolf~arth •
. . · , lfA.U'l ·-·.
.,-... _ ..
-. . , .. ,,·-;.~ --
1t1>nA ~ Oommts•1-oz.til Wo1ffarti. sooonde4 by CQmmlaaiOl'.ler
Posey. that the or41~e be 'f1nally passel:
YmASt ~aa1onera P08e7e Jcme--a & Wolffarth.
DAYS' Bone .,
fhe Uqor then 4eolaret. the crd1nanoe f'lnal~ a4optec1..
!he ordinance follows:
ORl>IlJABOE lfO. 2&1.
WHJmlWl , the OltJ' Oom1A81on ~f the Olt)' Of Lubbook,
texas, haa a.eund.Gecl the il:lbellatf• neoesa1v of 188Ulnc: li'all4tng
\i~a f'or tho pepese ot fnDdiDS certain val14 otltataDAI.Dg
1D.4ebtecln•aa of .aat.4 01• • hareiaafter mentlone4:
THEREFORE. BE I1J.' OBDAlliED BY TJIB Olft OF LUBBOOX,
1. !ha' wa:rraata of said 01'7, to be o.alle4 "CITY OP
LUBBOO& J'tmDiliG wA.BR.uns . smus 1924". be 1esuec1 .-• .-aa1 b7
vll"tae o~ the OODSt$-·tutlon 8D4 lawa ot the State of Taas. f'or
the pupose. of. to.aa\118 u equal $D101Dlt of 1nt•lln4DHa o:t am..a
CltJ' • 4ul7 aDI ~e.fP].~ 1881184.. G.ll4 whieh 1e a valld. aubais'Ullg
au.4 ncm cnttstantllng ob11pt10l'l a.plut 8814 Olty"' tbe olaima t•
wh1oh •re 4u.1J' au41te4 a.n4 s.llowed by the Olty OCJ8111s81011 pr107
•q the 1sllllfUl8e th•eof • aal whioh 1s " be oanctele-4 and th•
mdel:lcte the-reo~ nrrenctere4. 8114 tho warrants herebJ' sathor1ze4
1aap4 to tbe hol&ft' b lleq. thereof. wb1Qh said 01'1g11'la1 av14euoea
of 1Jkte'Ote4neae •• as i'oUO'd:
DAB fMI1f8€ft ~ tmOI JBSUm) ~ ~
JUW!3 -StReet GoatJ. Eloft. eo. ta•tRJ.o Supp11ea ~·-
4-14G8 ... C10l118 ~ COmm t1a~ ... Sqppl&oa ....
"' ~Ia~ FIN AJJp. ll!a)eCI)
••• • ~ f:etap .. eo. ue•• ...... • ~ 0oqepa1 m •• eo. ......
8-llwG 41 llibboa1t l!eb. eo. ~to Su'JpU... ua.oo ... , .. • ~nrc..~ • •• .,......., • ~a.. eo. 114.10
&-1811 .. ~·~SoppUea ....
• ..._...,. ... eo. ~,.. U'l.rl
~ 81 ~-----~ ....
10-1'WJI ., CGU.as az.. • El.tWit.lte SIW'll• ..,..,
l8 ... • Clome&O.. '\~---~ ....
u-ao..a 66 Slmpee Flea. eo. mee.a .SUJpU.ee D&at
!D-11-as G8 Peatl!tg JJoo• .... Eleo. r.-. SQpp1leo 11'18.00
lS-18-83 ., A1l8UD a.t4ge ~!all.. i\epGf.r JQPte aa ~ 810.00 .
ta-18-98 G9 'Ueoteftl B1eo. eo. Jl1.ectdo "~ sappUea 100.d0
~ '18 1\JJellteae neu \1tte• t"b"-\1118-~ ....
IS-1&48 98 ~ Tabba B11r G tR ~ maa. r;oal eetote ...,..,
' ur-:u;..es • B. OSilSioud 0.88 A. laud ~ Dept. ltealeatate 18&.00 ........ .. soPeet Oen•l EJee. co. ~SQppllea S&M.a&
$1 8 .000.00
" .
~) ;,
t
I '"J
JIUJIBKB AltO til!
a. Sal4 taa4.1Dg wa:rraatle ehall. be .u.be%'el. from cme C 1)
t-o elpt-Mil ( 18) • 1Dolu1-ve, aD4 ahall be 1ll the 48Jl01Jd JtatlGD of ca.
fho118an4 DoUara ($1 ,000.()0 } eas, agsregat1q the ,. of Bighte•
~aaa&D4 »ollara ltle ,ooo.oo),
8. fhe7 abl.l be 4atecllla:reh 26\h, 19M. ad eball
matve f.UI4 beoome tu anA p&J'able aa toU-.·:
Vi ARRAB! 1111l'8PaS.
1
2
8 • 6
6 ,.a
9. 10
U ltlB
18 ,. 1~
16. 16
17 & 18
DATtJRin JMfES·
JaDUBZ7 loth . 1989 •
" " 19SO
" " 1981 ~
" " 1982 ,
" u 19S3.
" '' 19M ,
f f tt 1951,
" " ltSI. " , 1tS'1.
n n lt38,
" " 1939 ,
fl " ltto,
JltOUB!S.
t l ,OOO.OO t.ooo.oo
.1,000.00
1 ,000.00
1,000.00
1,000.00 2,ooo.oo
2 ,00 0 .. 00
2,000.00
2 ,000.00
2 ,000.00
~.oqo.oo
'· 8&14 wan~mta shall lMtu mtaree• at the rale of
eix per oenta ( 6~) Pfr amnun fJaom late until paid, payable lama.-
&r7 lOth, 1925 , an4 88tld.-aoauall7 thereaftu on the loth 4&7 o~
Jll17 an4 U1e lO'h cla7 ~ Jazmary of e Mh 7ftr. whloh a••rest ahall
be ev14euee4 b7' oou.poJla a tt&Oho4 lo eaoh of ea14 •n&Dta. Pan
4lw 1nter88't aball. bear !Dtereat at the rate o~ au per onhla ( "')
pe~ anJ11D tzoa matur1_. lllltll pa14.
/-
&. Pri.Do1pal 8D4 1D'•:r•at of ea14 wanante 8hal.l be
pqable 1Jl lalrh1 aG11e7 o~ lho Uid.te4 States o~ Amerloa upon pre-
asntat1oa an4 sunenda:r of proper wanant or ooupOD at Ute 0Clllt1Jublta1
a CJiillme~.lal !lat1ona1 Bank. Chlr~aso . Illlnole. sas.a warranto shall
prov14e that 1n t:be event of default 1n the paJ~HDt of pl'lmipal o~
11ltereat , on4 tbe same la plaoe4 in tko haacle of an ottoxney fos-
oolleotlon, or 1t oolleoted 1t7 etd.t, or by legal procsee41Dg& of _,.
t:blA , an a4t.it1oDal tD011J1t of te .Per cent• (1 ~) on the pr1ulpa1
an4 1Dterest then 4lle 8hol.1 be &4cle4 aa a'~ome7 • a teaa.
6. Sai4 •ft'Clta ahal.l be a1gllllt4 b7 the llqor, oOtmter-
alpel 1JT 1he Olt7 s eoretaT7 aD4 regl&Re:re4 lV the Oity !naau:rer,
&Dd the seal of the Oit,' ahall be 1mpreaae4 upon eaoh of sas.a •anante.
Ju elmlle eipaturee of the Mqo~ aD4 01t7 Seoret;a:q ~~~~q be U~o-
0 fP'&phtta upon the lllteroeat oo11pene. ·
v. 1'he fom of ea14 WU'fttlte ab~l be aubatant1al.l7 aa
UBIHD STABS OF .AJ:I!BIOA
S!MfE OP fBU.S
OOUI'l'!' ()-i' Ltl9BOOI:
Cii'Y OF LUBBOOX JIUBDIDG W ABlUll~ • SERIES 192f.
tl. .. ooc.oo
TlliS IS TO OFBTIFY tha~ the Olt)r of Lublaoot, 1n tbe
· Oollllty of La••t aa\ Stat•· o'l fexaa. ao mowlelgea ltee~:t 1D4e)'h4
to aDA for 'YalU noe1Y.0. hereb¥ prcmiaea to pa7 to bearer, at the
OodlDimtal • O•r·rolal Jlatlaaal BaH. Oh1aa8o, Illiuola. oa the
loth tq of JDill&aJ'J'. 19 , t;he prJ.Dolpal •• o'f
OJm rll0t13ABD DOLUBS
Ct l .. ooo.oo). 1D la1rhl .,.-7 of ~· 1Jid.te4 Stato fd Amenoa, w1tll
' .
I.Dterest thereoa :tl's date hereof at the rate of six per oen-.a (-)
'
per ama•. iD'cteet pa_yable Jamas17 loth, 1121, aD4 aiiD1-8DD11al.l7
I '
' .
eaab ~; D4 the ~eanrw of aa14 01v 1& hereb7 authorlseA, cw-
,
&area aa4 UzoeoW to PfO'-to bearer ea14 pd.mipal 8111D, topthu
with iJDenat theeon. eY'UerlCid lllr ODllpGIUI attaolull hel'eto, prlD-
aipal. aot. lJltereet pa,able a-t . 1be l»aa* above uame4 11:pea preseatattca
a:a4 a1U'J'c4er of" WUT&at ~r ps'opar oo'llpon; aD4 sal6 !freaeuer 111
~her 41reote4 to remit to ea.JA beat the aD or.._. ot aollft7 m.-
4aoe4 b7 tMa wanant and atmexe4 CJOllpGD& at least ten ( 10) 4qa
prtoT to the 4a'e of aturl.t7 'hereof'. aDl U . the •• ol. money n-
pMactefl b7 thle .uant au4 a.rmexa& ooupaa Shall not be pall d
matmrity • t~ 881Qe ahall thueafter laea~ 1ntweat at the rate ·of eis
pu oenha (&~) PG% 8Dil11D 11Dt11 ~lJ' pa.JA.
IT Is amnmr eepee1al.17 -.,r .. a 'hat lf this wanu.t . o~
&1Q' t.mereat ooupeu hereto a"aohe4. 1e Dot pa14 at maturlty. 8D4 ~
_. 18 plaoe4 1a the halila of 8ll atto.--,. for oollaotloa after ~
tu1t7 tilereo~. or 8lilt t.a · 11le4 thereon, or oolleottoa mate lJ¥ legal.
preoe .. lqe of .., t1D4. • a441 tJ.oual amomt o'f t:.a :peJ' oat• ( l.~)
on ne p:1m1)Jal am 1Dtereat then 41ul 8ha11 '-a44e4 ae at,OmeJ''a
u
0
.
1'lllS WABBAilf 18 oae ~ a JMrlea of elghte• wan'&Bta, o'£
llte 4atct -.& tenor. exoept aa to msr.t;urltv" a:gpegatlDS \he sum of
'
Elp:t.aen !'hGUaDI Dol.lare ( $18 .ooo. oo) • tsaud ~or the pVpoee (tf
·~tug an equal 81101JDt of ~MID.aea of aa14 Ol:t7 heretofoa -
an4 lesallu is81284. the ~laJma for wbloh were 4u18 a111'11 tea aDl aUowe4
b7 'the Olt7 00ft'1Rt1ald.on pd.or to the 1a8t181XG' thereof. aa\ tor whioh
8a14 O.lt;v has reoe1Ye4 full va1u. a:nd coul4a.-at1oa end ,h.-bJ' ao-
tnarl.e4see J!e.Gelp't td · SSble-. ar.d whl.Ob ~tetneaa waa authorlue4 'bJ'
eritna.uoe «uq ant lesal}¥ adopted prior to lta· 1Bft&Doe .• f:DaP 8114
entftel v:pon tbe !U.JDa\ee of the o:.tt.; C~JBlaei(D of ea14 Oi'Tl t ·t
b«tiDS' mown aDA ~tooa. ~a't th18. -.nN!~ .. as well as all otheJ:B
of W11ll een,ea. -h 1ssua for the ·a-ole parpoeo aDA 1nten:t of ~4118
aalcl oatstan41Dg ma.e•te4nua into \I&JTanta aut!lorlsel auA iaeuel 1D
oourpl.18IJO.e w.tth the 00DSt1 tat! on aDA 181f8 of the Stat.a o'f tesas.. -..a
I
th•· OiV Qhaner ot .aa14 CJ;Q'• 8Dl ~· lc> 0r41DaDOe-liO. 281,
aloptet: lf6 .tU 01t,T Oemdsa1cm of ea16 City oa the Mth lla7 o1I.Jamh,
l.ta& , aDA nctOrAed ln IMk 8, pap .18& et. eeq ... {)~ the m.autea of
' aa14 OtQ' OommlsaJ.oD.
Dit D-AD ot thl8 •uaat,. ll1 ocmfomit7 wt" ~he. nt.meoe
aboYe ••~1oDe&. ia •~ 26th. 1924.
AN» If 18 HBRDY OBRfll'IBD ... 'diD BEOl!'BD that &11 oota_.. oon-
41 tlou anA thSnp r:eqUbed fto be 4oae · pr•eten• to aDI 1a t~ lae.
&llOe o1 w.a ~ han beea proper)¥ donQ and per1ozme4 an4 hsre
bppeue4 lD resutu· an4 due ttme;. ~ &Jl4 GJaDJlOr. aa r4Jqu1re.4 b7
1• .. att4 that the-tolal lDilebte4aua ef tml4 cs.v. 1DOJ:u41ag thla
w«ftlmt., 4o,ea not exoeed f.ID1' ot>nstltu'tJ.cm.al. or natutoq um.~aUGQt
tha' a: aufft.oient tax to pa.y the· ~lnQipal of an4 lntc-eat 011 tbt.a
lmft'an' a t th~ir resp eotlve matur1~1ea bacs been lev1e4 an« .wlU ooa..._
ttmro to be, lefted. oolleo1e4 ana t\PPlle4. ln PQllJent thereo~ •
.Dl HSnBOl'IY wBEBmF • the 019 ot Lul>boot has oauod the
cloxporate ae a1. of the 01t7 to. 'be hereto at~ilte4 aD4 thi.a ~t o
be 8181104 b7 the ~Iator • O.OUDteH1gned b7 the C1 t7 Seoretaz7 an4
}
OOtlftESIQ.ntms
tol.1we:
Olf TRS lOTH DAY OF -----19~-•
~he Olt,' of LublK>o,t. !ruae. 1f111 pq to bearer,. at the Oont1Denta1
& 0GIID8J'Oial 11at1cmal Baat. Oh1oap, Illlaola • the .,. of !hlrt7
»oUara ( t3o . 00) • ~1118 eix months' 1nterest 4u that 1.8:3 on Oift
01 LUBBOOK FUJDilfG VIJBRAB T • SEEli ES 19H, 4a"i Jlanh 26th,. 1924 • to
lfhloh th1o ooupon la attaohecl u4 1a a pan thereof • .
l&ior . Pro Tan.
dli:r seoretG7•
&. IT IS .PUR!BER OR»AilmJ> b;r sa14 01t7 tbat aa14
orisLaal 1Dtellle4nea hereinbefore ment101le4 ani lea02."'1be4 be f1D4
the aame 1e hueb~ 1n aU thlnp val14ab4 an4 he14 anA 4eolsn4
to be a ya.U4,. allbsistiag. b1n41ug aa4 UDSid1af1e4 ollllgatlOD
aplDat aa14 01'7. aut ~ aota of the o1Q' oft1o1ala ia the
1aa~• the~-~ are hereb¥ 1n all thlnse ratlf1el aal oemf1~.
tl IT IS POR'fBER OR» AlliED that a f1ID4 be ad tbe -
1e here\17 ma4e .au4 ~eate& atl4 &hall. be aet ae14e aD4 4e&l~Jl.4P4 aa
"SP!XJIAL 1UBDI.DG 11.ABli.All! PU'lm. SEIUES 19~" • Whloh ftm4 when oo1-
leOte4 aball be 1IH4 to pq tbe intex-eat and pm'YJ.4e the DH888aiJ'
a1Dt1Dg :f1m4 to P87 eatc1 warrants at matur1t7 • aD4 for ao othe~
JUpOBeJ that to oreate 8&14 tim& ~or ~· purpose of PV"iDB the
latereat on aalcl Wlft'fUlta 8114 pNv141Dg allff1cs1em stntlng flm4
to Pfll1 them t.11111atuzu~. a tax ot aD4 at the raW of $:t /:;
oeuta ( /o ¢) on tile 1 100.00 ~uation ot all tazablo prop eny in eal4
01'7 ehall be ammall7 leri.et. aaaea884 en4 ooU..ote4., ani\ ea14 ~
1a •r• now 1n1.:e4 tor th• oa.rrent year. tu14 eo mwJh th.-.o:t as aWl
k uoeeaR)' fOI" eaah auoe~ ,ear whUa aa14 wanaota. or 1m7 ~
them, ue OlrtetanASng an4 1:11lP&14. an4 the ume aball 1»e amma-117
~·aae4 aJI4 ool.leetd &D4 app1le4 '<t the parpoae .. a ..
10-. I! IS li'tlR!!UB OBDAIBBD that ln a441UOD to the a4
'Y&loxwn tax leY1e4. to pq the 1ntenat 8Dl pr1no_lpal of aa14 warranta.
a ~fioicm* ~of ~he reYem:aea f.erlyed bom Ue opeaU.on of th•
eleotr1o Ugh·~ plaJlt 8114 the wa\eno m an4 eewer _,Rea of aal&
C1t7 shall be aD4 the eame la hereby 1rre~ooablJ' ple4p4 t-o oreate
a ftmd t-o pq Ae 1ntu.n ana prlDaipal of aa14 wurante at theb
reepeot1v. ma~" 4atea.
u. The :f'aol tha t the City OOUIB1sa1on 4•-lt a4T1 .. ble
ut to the beet ltltenat ~ the Cllt7 'to fa.a4 lhe ou1mhll41ng 1n-
4el»te4neea here1ube:tore menUone4. oreatea an emergenoy &114 an
inlperatl va pUbllo-aeoea81t7 thn.t tho rulea req1l1rirJ8 orCllnaneea to
be reat. at acmt thc one mset.lng of the 01t7 OC*IIleelcm be BQ8pen4e4.
aD4 1t I.e eo eclal1»4. aa4 th18 or4laauoe ah.a11 tab efteot sn4 be
in fome twom an& afte~ lte paaeap and ap-proYal.
PASSBD. thla 24th lla7 of l!aiOh, 1924.
J.P.PROVD • till& Mth cleF r4 Ua:toh • lt8l •
. ~ .. ~ tGli\Oi£.
fexae ..
ORDINABOE BO. 251.
All' ORDIHAE'CE PROVIDIBG FOR THE l:SSUAJrCE OF &X PER CElr.r (6%) INTEREST
BEARilJG WARR.\BTS FOR THE PURPOSE OF P'ln!DIE'G CERTAill VA.T..ID OUTSTAEDING
IImiBTEDlfESS OF THE CITY OF LUBBOCK TEXASt IBVYIJrG 1'Bll BECESSARY 'fAX TO
PAY THE INTEREST AED PROVIDE A SINKING FtmD TO RETmE SAID WARRANTS A't
liATtmiTY; Aim DECLARING AN E'MEBGEllCY-.
WHEREAS, the City Commission of the City of Lubbock, Texas, has determJn-
ed the immedia te necessity of issuing Funding Warrants for the purp ose
ot ~ding cet;tain valid outstanding indebtednes.e of said Uity, herein•
after mentioned& ·
THEREFORE BE IT ORDAINED BY 1'HE CITY -QF LUBBOCXt %EXASt
1. Th~t warrR.nts of said Ci-ty., to be called •ciTY OF LUJ3130CK FtlliDING
WARRANTS SERIES 1924 .. ~ be issued under and by virtue of the Conatitutim
and laws of the State of Texas, for the purpose ot funding an equal am~nt
of indebtedness of said Ci t7 duly and legally issued, and whi-ch is a valid,
subsisting and n ow outstanding obligation againsttsaid ~ity• the claims
for which were duly audit·ed and allowed by the City Commission prior to
the issuance thereof, and which is to be cancelled and the evidence
'hereo~ s~rendered• and the warrants hereby authorized issued to the
holder in lieu thereof, which said original e vidences of ind~btedness
are as followst
DAD mnmo
4-13•23 2632
4·14-23 2634
4•2S.23 3'7
5•16-23 42
6-'7--23 43
6-11•23 44
6-lg..23 48
'7•21-23 54
s-~6•23 56
9•16•23 58
10•1'1-23 59
lG-17-23 GO
12•4""'23 62
12•10-23 65
12•11-23 66
12-12-23 6'1
12•12•23 69
12•15.,.23 72
12·15--23 '73
12•16•23 74
2• 8•24 2?16
TO WHOU lSSUEil PtmPOSE
SoWest General Blec.Co. Ele c tric tiupplies $ 982.42
Clowe & Co\van Wa ter Wks.Supplies 195.?2
American Lar:rrance Jrire App. :1250.00
So ~est Ueter Box Co. Ke t e r Box 112.50
So West Gene ral Elec.Co~lee. Lt. Suppl i e s 2826.04
Lubbock Ych.Co. E lec. tiupplies 128.00
Clowe & Cowan ..,.ater Wks. Supp l i e s 97.92
Ferguson Eng.Co.. Work on Switchb. 114.10
Clowe .& Cowan Wa ter W ks.Suppli e s 498.10
Briggs Weav e r Meh.Co. Wa ~e r Pump 13'1.9'7
C1owe & C-owan Water Wks. Supplies 229.01
Cullum Bros. E lec. Suppl ies 300.00
Clowe & C O \VZ Wa\er Wks Supp l ies 356. '10
Simpson Elec.co. E lec. Lt. Supp lie.s 118.88
Vfesting House Elee. E lec. Lt .. Suppl ies 11'12.00
Austin Bridge Uch. Re pair p a rts on Gra der 240.00
Western Elec.co.. Elec •. ·Lt .• Supp l i e s 1041.29
Americen Well Wks. Water Wks.Supplies 499.50
Wm. Tubbs Blk. 6 OT Water Wks. Real Est. 3600.00
E. Gilliland 9 A. Land Sewer Dept. Real ll.:st. 985.00
So West· General-Elec.co.Elec. s upplies 3124.81 ts,ooo.OlS
2~ Sa id fUnding warrants shall 'be __ .niinberecl from. -one (l) to eighteen (lS) •
in clueivet a ~d s ha ll be in the de~n ~tion of O~e Thousa nd Dolla rs (tl~000.-_00~ each• aggregating the lttm of"-JS!ghteen Tbous:1nd Do1la.rs ($18,000) .
3.-th.ey sha ll be d a. ted Jlareh 25th, 1924~ a nd. shall tn:<;J. ture and becmre due
and payable as followat
W ARnAft JJtJJ.:BERS MATURITY DATED A!lOUB'l'S
1. Jmu~ry lOtb• 1923 $1.000.00
2. • It 1930 1~ooo.oo
3. 1J .. 1931 1.ooo.oo ... .. • 1932 1,ooo.oo
5. 0 u 1933 l~ooo .. oo
6. .. n 1934 1,ooo.oo
'7 1: 8 It " 1935 2.ooo.oo
7 1: 10 • ft 1936 ~.ooo.oo
ll & 12 • " 1~3'7 2.ooo.oo
13 1: 14 • If 1138 2.ooo.oo
15 & 16 " • f939 2.ooo.oo 17 1: 18 " n 1940 2.000;00
Ord. Bo. 251. Pg~ 2e
4. Said warra nts s~ll bear intereste the rate of six per oen~um (6%)
per annum from d ~te until paid~ payable Janun r.y lOth, 1925 semd•annuall7
thereafter on the lOth day of July and the lOth day of Januqry of each
year, which interest aball be ev1deneed-by coupons attached to e a ch of
said warrants. Past due interest shall bea r interest a t the r a te ot ·
six per centum (6%) per alUlum f'rom matur1 ty until paid.
5. 2rinc1pal and interest ?f s a id. war1·o.nts sha ll b e paya ble in lawful
money of the United States or Ameriea upon presentation And aurren4er or proper warra nt or coupon at the Continental &: _&oilmlercial lational
Bank• Chic~go, Illinois. Said warrants shall provide th~t in the
event of defaul t in the payment of principal or interest, and the sane
is placed in the hands of an attorney 'for collection, or if collecte4
by suit. or by lega l proceedings of any k1nd9 an ad4itional amount ot
ten per centum (10%) on the principal ~nd interest ~hen due stall
be added as a ttorney•e ~eee.
6. Said warra nts sha ll be signed by the Jlayor·, countersigned by the
City Secretary and registered by the City Treasurer• and the seal of the
City shall b e i mpressed upon e a ch or said warrants. Fac simile signature&
~t the Xayor a nd City Secreta ry may be lithogra~hed upon the interest
coupons.
7. The form of aaid warrants sh~ll be substantially as follows:
Bo. $l.ooo.oo.
UliTI'l'ED STATES OF MIERICA
STATE OF TEXAS
COUlTTY OP LUBBOCK
CITY OF LUBBOCK FumliKG WAR..'tlANT SERIES 1924e
THIS IS TO CERTIFY that the City of Lubbock• in the County of
Lubbock and State ot Texas. acknowledges itsel~ indebted to and tor
value received hereby promises to pay to bearer, at the Continental
~ ~ommercial Bational Bank• Chicago. Illinois, on tba 10th day o~
lanuary, 19 ___ • tha principal sum o~
ONE THOUSAND DOLLARS
(tl.OOO.OO) in lawful money o! the United States of America, wi~
interest thereon from d a te hereof a t the rate o~ six per centum
(6%) per annum, intere ~.1 t p a y o..ble J'u nuary lOth, 1925, and aemi .. anDU.ally
thereafter on the lOth d a y ot 3uly and the lOth day of Janu ~ry ar each
yearJ and the ·Tree.surer of .s a id City is hereby authorized, ordered n:td
direc~ed to pay to bea rer sa1 d . principal BUm• together wit.h interest
thereon, evidenced by coupons a tta ched hereto, principa l <:l nd interest
pa~able at the bank a bove ~d upon presenta tion and surrender of
warra nt or proper couponc tind sai d Tre~aurer is further direc ted to remit
to s a id bank the sum or oums of money evidenced by this warra nt and
annexed coupons a t le'l st ten tlO) da7a prior to the date of maturity
thereof, a nd if the sum ot money represented b7 this warrant and annexed
coup ons s ha l l ·ot be paid at maturity, the same ab~ll there~fter beq r
interest 6t the r a.te of six per centum (6$&) per annum until ful~y paid.
IT IS HEREBY especially agree4 tha t if this warr~nt, or any interest
coupon here to a tta ched• is not paid at maturit1, and the same ie
placed 1n the ha nds of an Rttorney ~or collection after maturity there-
of, or suit is f i led the:reonl or collection made by legal proceedings
of ~Y kind .• a n additional amount of ten pe%" centum (1()%) on the
principFll and interes t then due sha ll be added as a-ttorney's fees.
THIS WARRANT is one of a series of eighteen warrants, of like da te am
tenor, except as to maturity, aggregating the sum of ~ighteen Thousand
Dolla rs (tls.ooo.oo) issued for the purpose of funding an equal amount
ot in4ebtednesa ot s~d City heretofore duly and legal}T issued, the
claims for which weredbly audited and allowed by the City Commission
p%br to the issuance thereof, and !or which said City bas received fUll
value and consider1 tion and hereby acknowledges receipt of same• and
which indebtedness was authorized b y ord1nanoe duly and legally
a dop~e4 prior to ita issuance, made and entered upon the K1nutee o! the
City Commission ot said CityJ it being known and understood that this
warra nt, as well as all othera of ~his series, is issued for the sole
p urpose and intent of ~ nding eaid outsta nding indebtedneaa into warrants
·1 uthorized a nd issued in compliance t'ri th the Constitution and lawe of tm
Ord. # 251 -Pg. 3. ..
State of Texas~ and the City Charter of said City, and pursuant to
Ur~nance No. 251~ adopted by the City Commission of eald City on the
,.
24th da~ of Karch, 1924. a nd recorded in :Book 3 page 182 seq., of tbe
Hinutes of said City Commissi on.
THE DATE of this warrant, irJ,onformi ty · ith the ordinance above
mentioned le Mlrch 25th, 1924.
~ I1 IS HEREBY CSRTIPtED AND RECITED that all acts, conditions and
things required to bed one precedent to and in the issuance of this war-
rant h ~ve bee& properly done and performed 'Ud h~ve happened in regulu r
and due ti'"·e form and mannar as required by 1a "'• and that the total in ...
4ebtedness· of said Cit,y• inaluding thia warrant~ does not exceed aD7
constitution ~l or st?tutor.y limitation) a that a suf£icient tax to pay
the principa l of and interest on this warrant a.t their reapec·tive
maturities h ~s been levied and will continue to be levied, collected
nnd ~plied in p a yment there~t.
Ill WESTDlONY WHEREOF• the Cit:r of lubbock,. bae caused the corpora te
seal of the City to be hereto affixed and this warrant to be signed by
the lla.yor co ntersigned by \he City Secretary-, and registered by the Cit7
Treasurer, a s of tbe date last abo~e mentioned.
eity Secret~ry 9 City of
Lubbock, Texas.
REGISTERED a
Kayor Pro Tem. City of
Lub bock, Texas.
lty Treasurer. City ol Lubbock,
Texas.
The for.m of interest coupon shall be substantially as ~ollows:
mo. ·-...--
ON 'rHE lOth DAY OF -----·• 19_.
the City o~ Lubbock, Texas, wil~ay ~t~ bea rer. a t the Continental
& Commercial Jiational »ank~ Chica g o. lll1no1.8~ the 6U!n o f Thirty Dollam •
($30.·00) being six months.-interest due tha t day oJI City o£ Lubbock
Funding Warrant Series 19249 d a ted Ma rch 25th, 1924• to which t h is
coupon is attached a nd is a p a rt thereof.
Kayor. Pro Tem.
City Secretary.
s.I'r IS FURTHER ORD AINED b ~ said City th ~t said original indebtedness
hereinbefore mentioned a nd described be a nd the aame is here by in all
things validated a nd h eld and decl red to be valid, subsisting. bin~
~nd unsatisfied obligRtion against said City, a nd the acts o£ th3 Uity
officials in the issu~nce thereor are hereby in all things ratified qnd
confirmed.
a
9.IT IS FURTHER ORDAINED th ~t/tund be and the sarae is hereby made
and created and shall be set aside a nd designated as •SlBCIAL FUNDING
WARRANT FUND, SERIES 1924•. which fund when collected shall be used to
pay the interest and provide the necees·1 ry &inking fund to pay s e id
warrants-at m"turi ty, a nd for • other purpose I that to create said fund
for the purpose of p ~ying the interest on sa14 warranto a nd providing
1 .,.
Ird~ I 251-Pg._4.
sufficient sinking fund to pay them at matwrity. a tax of and !J. t the
rate of six centu (6J() on the t;loo.oo valua tion of all 'ta:t::able
property in said City shall be annually levied, assessed and collect•
ed, and s a id tax is here not levied for the curre nt yenr, a nd so much
~ereor as sha ll be n~ess ~ry f.or each succeeding yea r wh i le said war•
r a nts, or any of them.· are outstanding a.nd unpaid, a nd the same shall
be nnnually assessed and collected and app l ied to the p u rpose named.
10. IT IS FURTHER ORDAINED th~t in addition to the ad valorem tax
levied to p a 7 the interest and principal of said warrants, a sufficient
amount of the revenues derived from the operation of: the ele ctrie light
plant. ~nd t.h e ¥-;a t e ~orks and aewe 7e systems of sn.id City shall _tie and
a nd the s ame is h ereby irrevocably pledged to crea te a fund td ~the
interest ~u d p rincipal of S[i id warrants at their respective m.-'1 turity
~t~. .
11. l~e f~ct that the ~ity Commission deems. it alvisable a nd to the
best intereot of the City to f'und the outstanding indebtedne:.::e herein-
.b ef'ore mentioned crea tes an emergency and an imper:'l ti ve p ub lic n ecessity
th ~t the rule s req uiring ordinances to be rea d a t more than one meettg
of the City Commi ssion be suspended a nd it is so orda ine d-. a nd t his
..ordinance shall take effect and be in force from a nd a fte r its passa ge
and approval.
PASSED t~s ~ith; day of Karch• 1924 ..
I
APIROVED, this 24th day of Karch, 19?A.
ATTESTt
l.R. Germany
City SecretRry, City of Lubbock,
l'exas.
H.G. Love
Mayor Pro Tem City of Lubboci
Texa s.