HomeMy WebLinkAboutOrdinance - 252-1924 - Amending An Ordinance Of No. 249 Purchase Of Water And Sewer Lines. - 04/11/1924)
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ORDIDANOE UO. :2.5~
prooeecUnge, among others, were had. to-wit'~
"All OBDWB~0~~r~~i::Ci~io:::9~u?~~~~ e~~i::~-BY
1'll$ CITY (}I L~BooK 01!' W.A!D .dD SE\~Jm LI.BES OWJEl) BT W. A • .HYRlOK
ADD LOO.ATED IN THE lmUJlK ADDli!IOD 1t0 THE ClfY OF LUBBOOIC 1 fEUSt
PROVIDIBG J'OB THE I'SSUAJOE OF SU PER OEN~. (6i!) Illf!BBSf·O B.lWliBG
WARRANTS II PAntE!ii' !R&REi'OR; LEVfillG TD BEOESSAliY fAX !0 PAY 'l'BE
Ill!l'PBEST dll ·mttroiPAL OF SAUl WARRA!ii'S o J~ 11AfURITY: AJm DECLARIBG
IJI .WEa GE!iCY .. ~
.D Mov.._ by 0011Jl,\ff:l8iQQer r • aeoonele4 b7 Oomm1a-
e1o.ner ~ • lha.t ~ or-U.iii:e &i re84 in -fall~ llot10D oarned~ ~. C7.f'411Umoe was onad ill fUll b7 the Ot.ty seo-reta%7•
llcmiO. bp C011111d.aii10Der ~ .• -oniled bF OCIIIII!Il .. J~lone~ j~ • that the oaflse 1te first rea41n_gs
teAS-: OOIDleaione~uY.J Ld Jlh ~"1-1-f ~-/)~ ~ ~~
liAYS : ~ . ~'-
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ORDIIWIOE l'IO. ? 5 ~
AU OlU>IBABOE AMEBDIBG ORDI.IA.OOE 110. 249
AUfliO:RIZmG TO PUROJU.SE BY Tll! OITt OF
Ll:J.Bll()GJt OF WATmi AID SEWER LiliES OVllJD
BY a>. A. MYBIOK AD LOQA.fED m TBl! t~l'RIOX
ADDI!lOll flO TD CITY OF UJ])l!OCX.. !lBX.AS:
PR£YIDlltG FOR fBl! ISSUABOB o.f SIX PEn OBf.
(6je) IJfflliift DEAlUBG WABB.AI'J.'S IB PA'!I.IEH
!HlEm!Olb JJSVYiliG !'HB JJEOESSARY TAX fO PAY
mB IB'llf'BEST Aim l'R llfOIPAL OP SAID Vl.AR1iAlft'3
.A~ l!mt:flll!lY: ADD DAX1lJ.RlBG JJf mERGEBOT.
WJWlEAS. heretofoa. on the 6th 4a,. o1! l!a'roh. 1924. th•
os.•,-0~.aat.m o~ the 01\7 o~ LllbMot • !«me • 84-o~ed aa orUl:laDGe
a11thoJ'1wJng the puzohas• .of •t.er aia4 sewer linea owned to" W. A •.
!!plot aDd looate4 1n the lqri.ot A44ltlon to the C1t7 of Llll:tbcel;.
and p0'1'141Dg toJt the iaBUar)Oe o1 a1X per oent. 01~ of L.Ubboo.k
W~ al'l4 3e'WGlr Wa.r:ran$ a U1 ;,Pa,'PIIIlent the1'efOJ',. tb& Game being tlt'ii·
aaao:e Bo. 849 •. r.ol:'484 ln Boot 3, P'P 178 •' •t• of the Ulznrtea
o~ sail C1t7 Ooaeiaa1cm; &Dl,
ta:mlmAS. tha:re belq a T.GOaJJ07 ill the oft'ioe of Ma70r
e sa14 tate. aa14 ~4J.nuee p%'0vt.a.ea tbat 8614 w81'l.'fU4a 'be a1gne&
'b7 the lfqo~ h"o ~r.e o:t ea11. 01,71 atd •
tmmE.AS. ·a.ame quest1oa haa ari.a.u as to the regu\ia1t7
of sa.14 FO!"c1.iaSS. and 1Jl oriel" to mee~ tbe ebJ.eo:tiCQlfJ wb1oh ~ve
been rab.e4 tho 01t7 CCIS1aa1• ae.a it a4Yis$blo w amaJ14 ,ae.1A
o:r4baoe. -.A th• .,_. 18 th&Pf•re here-..,. ame2.\4e4 :ao that 1t ahUl
hft"eaf·tu be. anA r«~d aa to11on:
wm:REAS~ vi. A. ltrr1ot. o1 Lubboctt. ~-•· '' uo ••~ at
$0reag8 ar:.etofoH ienaml as the Men Aoreap 1D t-he· OS." <Jt L'Qb-
b.oot; tmel. wb.ereAS. ·aa.1d w •. A . lqrio1t .baa ha4 &814 aoJ'aage platted
1n l.ft$' anc1 bloOto_. to bo -~ aa the ~lot A441 t.t.Ol'l ·to the 0.1 ty
o.l Lubboot. 8114 baa hat GGDBtraot.e4 ln 8814 a441t~on. with 'he ooa-
aeat ana apprCJVal of tile C1t7. an 8" e•er Jllj.an ~ a 6u W$W" maiD
1Jl0l1l4t.Dc JQ-4rante. maJ2ho1ee. eto. • at a ooat of $3.&2o·.V4; ana~
WHRBRAS • sa14 W. .&. lt7rlok 18 4•1rou ot aell.1ng 8814
sewer and water lJ.Dea to ~· Olq of Lubbook ana offers to eeU &aJDe
for the a. of 0 3,620.'14 8114 agnee to arsoept 1D p&Jmeat the:refo~
t so.,t 1D ctaab ana the Mlanae. $5,600.00, in lep].J.7 1aeu.e4 warra.Jde . .
td ea14 OJ.t7. bearlJJS 11'1U2'en &t the n.te of 6~ pqa~1e aem1-amma1~;
aD4 maturlng seriall7 as foUon: tl,OOO ill i 7M%'8 fJrom their ku,
$1 .. 000 1D 6 J'8&r8 an4 $1,600 ill 'I 7eare 1':rom their a.ate; SD4, •here-
ae, th1a Olty Oomad.ealoa 4-e.eme lt advisable and to the beet lnteren
•~ the 01'T to aooept sa14 offe:
BOW • mJBE!'Olt.B. 1tB If OBltUIED BY !BB Olft' or LUBBOOIC.,
rmAS. \bat ea14 offer M 8114 the same 1a huab7 aooetY'e4 aDA the
aat.4 ••_,. $D4 aewer Unee p1U'Ohaae4 ae the property of the Oity
o1 Dlbboot, !ezu.
~t ea14 eum of $3,520.V4 18 hereb7 •4e aJ'l4 clectlare4
to lMt the lawflll 4nt o'l aa14 011r7 of Luboot, !«eae, 1 20.'1.& to be
pa1c1 to eau w. A. llJ'riot 111 oaah aut ~ ltalaDOe, t3,6oo.co, 111
le&a117 J.saue4 WBnaab o~ add 01Q'.
fha' wanante of aalcl 01l7, ~o 'be oalle4 "Oift Oi' LUBBOCJE
Vl.A!Di ABD SmTEB WABRAJfS , SEHIES lt24•, aball be 1aaue4 1n the 811D
of Dree !houaanl i'1Te I11a4,re4 Dol.l.an (N.BOO.OO).
8a14 wunmta ahal.l be 4aW the 18th 4a7 o1 Apl'11, 1924,
shall u mabere4 ft'OIIl oaa ( 1) to three ( 3) , lzao lD.alYe.. &n4 &ball
be in 4enom1aatlOD aa4 abal.l atve aa :followa'
1
8
3
DaGKIB~IO.IS.
$1000.00
1000.00
1600.00
Sa14 W&l'rante ahall bear lntaeat from Aat• atll pa14.
at tQ rate o~ au per o•hm ( -) per aun•. pe.,Ule Jamaa%7 lOth,
192&, aDil aerrd.-azm11al.J.7 thereaftU' OD the lOth 4q O'f J'alT 8114 the
lOth 4aJ' of JaDPaJ7 of eaoh year, whloh 1Dtereat shall be 8t14enoe4
Paat 4ue ln\e~t
8hall 'bea:r lntereal at the ~ale of au per oenhll (~) ~ QDD1IIIl
from maturlt7 at11 pa14~
r
• c
Prillolpal a:n4 1nteraet O'f aalt watTaAta f6ell " paJalll•
1n latrfral DlOD87 of the Uldtecl Sta't'ea of Amer.lca upon zaeaentatlon
d eu.w~ of p:rop_. warnn' or OOlii>OD at the Oo.n,lnental • Ooa
Genial •at1ona1 Datlt, OM•aso, Dllnol&. Sat.d w&r~ant.a aball pa-.
ua.. tha' 1n the e-..ent ot h!alllt 1D. •h• l*lD&t ot pr!Dot])&l or
lntenat. aD4 the asme u plaMA 1n the han4a of a attC)~nGJ' 1:or
oolletioa, ar if ooUeoteA by aaJ.t, or b7 l_esal prooeeAtnaa oi' .,-
t1n4, an 6441t1onal aauRm:t (d ten pe~ oentum fl~) on the prlAOlpal
aD4 ~terest then lue aball be a4le4 ae atto~e.y'e feea.
Sa14 wano;nta ahal.1 be e1gne4 b7 the Mfqor • c~nmtet"Bisnef.
by the Olt7 SOOZ'et~ e.a4 reglateret lr the 01~ frea8U:rer, aa4 the
seal. <d the Olty shall be impreeeet. ~n eaob. o't a&id wanan&a. lao
a11D1le &1gnatve8 of the :Uqo!' &D4 CJ.Q-Beo:reta.17 may le 11tlloss-ap'lle4
'Q.'POJl \he 1Dtenet ooupcme.
fbe to~ of aald wa:rrante ehall be tallbatallt1al.l7 aa foUons
llo •. __ 41.000.00
(Bo. I -$1.&00.00)
Oli-Y OP SEBICB
!SIS IS !1!0 OBR!Ift -hat ~he OltJ' o~ X..l1bbook. a mu.loipel
o~oratlon :1Jl tbe Ocun~ of L'llbltook, State ot ~--, is 3u\l7 la
4e'htcd to •· A. ~171ok:. ht.s aa•lgDa u bea-rer. iD tbe p:r1Do1pfll
BlC .Of
Oli.S !HOlJSADD l)Ott.ABS
fil.-000.00). in 1:awto1 11l01107 of the tin teet stateu of Am&r1Ga. w1 th
latnest tbu.eon~ b'oJII 4ate hereof 'aUl pa.ld. at the rate ~ a1z
per oentwa (~) l)eZ' SDDllm. 1utaoat ~le Jamut.r7 ~Ot:h. 1926. 8.1:14
aen1-aamJalJ.7 thereafter on t!le lOth «ay o~ July ua tho lOth tq
of 48Jl!l81!7 o~ -eaoh ,ear; paiR 4ue interest aball bur 1Dterost al
the rate of elx pel' oonta (6~) »er annw from maturlt7 mtU pa14;
lloth priao1pal. 81l4 lDte~st pa1Q ble at the Contlnental 1: 041mmero1al
Batl-Onal ~. Ohloaso. 1Ulao1e.. 11pon presentation aDA svnndv
ot wu:r&Dt or proper oov.paD; au4 the 01 Q' b-easaru of 8&14 01 ty 18
hereb)' au~r1ae4. or4ere4 an4 41reote4 to pay to aa14 u. A. Uy.r1ot:.
his ssa18118 or bearer, a t the said bant, tha aa14 aw.s of One fhouaat.
Dollars f $1, COO. 00) • OJ1 the lOth dq of Januar.r, 19 • t~ elate at
maturity o1 th1B wft.J'hnt. ln Ml settlement of the 1adebte4aeaelb.u~
b7 evlcleoaa. froa the "Speolal Water ant Bewe:. Warrant lhm4, s en.ea
1924", of 86\4 01fi7 • ltri.e6, asaeaae4 8114 oreatccl for that purpose.
I !r IS HEREBY aapoolallJ agJ"ae4 allf)IMUi thot it this wa naa',
or ai1J" 1Jltereut ooapon hneto attsoh•4. le 11ot pa14 • matllrit7. anA
the aam.e 1s pla4e4 ln ~· han4.e of an attornoy for ooUeot10D. dt•r
maturity thenot. tn" eu.lt ls f ilet thereon. «W oo11eot1cm 111848 b7
lepl procteeti,_ of 8117 tlDI. m a441tlcma1 amount of teti per ~'
(1~) ao the p2"1Do1pal. anl 1Bt.ereet thea 41le. eltall be addecl aa
a•tG1'1181' 'a 'lea a.·
THI S WABRAD! la one of a eenea of thJ~M wan'BJlta. of
Uta late aa4 taor, exoeJ* aa h auOJiilla'lon aat •W:r1~. 81JI"N-
gat1De tile 8\110 of ftfte !llouaan4 Jllve JlaDI~ DollN"a ( 03.600. 00).
laauel tosr the ptrpO&e ot n14eD01DS ~ t.atebtetneae of the 01 v
of L11bboot to said w. A. Jqr-lok. !d.• aae18Qior bearez-, to-r watft ani.
eewer UDeS 1ooate4 in the UJYiot A441'1on 'to th• Clty of Lu~t
aDA IJUO~ ~7 the Olty o:f L1lbbcolc fi'CD aai4 w. A. t!71"1ot, ~
aD4 '-F vil't. o1 the CastltuUou aid law~J ot 'he Stau of !esae.
aDA the Oit7 Cbar'er of tbe 01t7 of Lub)oot, ~--. am lll PUl"1iltlaDOe
of a or4blano9 aloP'eCl b7 t'lle Oit:r o·OIDS.ae1.on o'f the Oli;r of Ltl'bb•••
!esas, oD t-he !! 4q of A:prt~, 19M • and reo:ar4e4 1n Boot: 5, pap
-·..Mool.-uJJ...__ et aeq. of the M!Jlutee of ea14 Ci t7 C-elllll1eo1on.
mE DATE of thte w"UnDt; • in con£orsnitF Wl th th$ Ol!c11l'l8Doe
... me:at1oaed, 1a April 151h. 19M; an4 it ls benbJ' oet11'1e4 8.114
reo1te4 tbat ~ aets, (tGD41t1QWI aDA ~1nge re ~u1re4 to be 4oae ~e
oe4.at to an4 1J1 th~ 1e81ame f)f th18 wanant. have beeD p,_.ope1'17 4eae
Qa4 perfGme4 u4 h&Ye happened,. 1D regQ].ar .a. chle Utae. -tom a.a4
mfl1lDAr, as requ.lrel b7 lalr, 8D4 that tbe total 1DAGte4nen o1 •814
01t7, 1DolD4Sag thia wan'&Ut, 4oea not exoee4 BD7 ooaat1tut1oaal n
atat~or.y ltmitatlo~ .·
..! . c
Il' T~TillOliY WH?Jr !X):I • tbe Olty Oonaialll on o"f the c~ • o'f
Luhboot. !«mn • hnfJ o a uae4 ths ellal. of mdd Oity to 1Ma hftn"to aft1xd
aA tllla wsnwt t~ be s1pe4 1J7 tha J.tqor and aonoteTBl8Jlo4 b7 Ut•
Oit¥ lleo%et~, as o~ the Oat• laet 4boVG WI'! ••••
JJiior. Olty of Lubbooi. 1!aaa.
aEGI 5!mED. this __ 4uy of _____ , 1924.,
!he form of lntsraat oow:pQ"D ek:tll be eubs~&IB1al..l7 aa
follon: (Coupon Bo. l mh all. be fo'l' eight months' tm.d tvront:r five
da.:Tt1' interef;Jt)
Bo • .__
OB ~HS 10!1'11 l>AY OF -----• 19.__. ·---
ibe 01ty ot Lubboot. ~exae . will f111.7 to "· A. Jty.riot.:, his aaalpe or
beara'. a~ Ule Continental. & OODIIeroial llational Bent, Oh1aago. 1111-
nots. the S1lJil ot »ollar~ (0 ) • be~ s a
month8' 1nl•r&$t 4ue that 4~ OD Olft OJ LUl!BO CK WA1'1!1R .. Ar.W SEWEH
WARAA1lt • SERI ES 1924 • llo•--• datd J.pr11 16th • 1924, to whioh tl'aifl
aRpon 1a attaohe4 and ts a part theeo1.
tiliy Seor.8ia.17:.
Tho• ~llow.t~g a.es1 BllJ!lent nhaU be printed on tb.G baolt
ASS!~.
I henby O«%'t1f)' that I hsTe reoe1T84. ~he w1 Ulin prta-
o-lpal wa1"1"81lt. ana the intenst e.otqtOna thereto ennexe«. hGlfl the
Olt,' fd Lltbboot. faaa. ana. for Yalu• reoetv.ed. bereb7 h'aaa1'er.
G88ip, aeJ.l aDl 4el1ver. withod rH·ouree. to beal'er. 8.11 right .•
-t1Ue a!l4 1ntere1R I h&"" in an4 t~ the aama. aJ14 aleo the pr.opor--
t1ouate par' of 1ihe 4eb"t 4ue •· wlth 1nt.erea~ thereon.. b7 sa14 01Q' •
C I tJ
\.,; )I :'C
whioh 1a represented by the aJnOUDt oalle4 for by this ~11'lC1pal ._..
raat an4 th6 annexed ooupons: and said b8t'.ro91" 1e bareb7 rJu~te4
to all ola.itt&,. llona. r1Sht or title. whether 1.n la.ll' or in eq111'J'.
11h1oh ere or maj b& aeo-'1.1.1'84 'to me,. and I here~ ~uthorS.ze bearer
to oolleet. ths &r.ame and g1Ya M.l rGO-e1pt ~Ill aoqui ttaMe th~of
1r.l any na:me.
8al4 ar:ranta Jthal.l be ~ted and &eU vere4 to aa14
W. A . lqriot upon clellvery b7 him to the C:tty of Pl.'Oll8r tr~.r
of said wster anA ne\7er llaea to tho 01~ o:t :&ubboet.
l f I8 .FUm'Hm O.BD.AIB'El) that a tuna be and tbe same 1e
here~7 mao e.D4 or•a~ed 8ll4 shall be aet as14:e and CleeitpJQtea as
"SPECIAL U~EB JJC S.:tnm Yf&Ui.AD'!f l1UJU)• SBRI ~S 1124" • Whloh furlC
when oolleo\el shal.l be sed to pq th• blterest w provide the
neoOBIJalT elnt1ag hD4 to pq sal& warrants at matur1t7,. and f~W
no othtU' ;?Ur;i~Oaa; that 'o onata ua14 'fmad fo-r tho puri')ee <d ilaJ-
tns the int•J:Gat em rsc.14 warrante aDA prov141ng eufftolent elrlttas
~4 to P6l' tbes;n at ma.tvltJ" • a tax of lllld at tho rnte o1' one out
( 1¢') em the t100 valuation of rill. taxable propony 1.n sat a. 01 ty 8hall
N ..-mul7 ~ev1e4. aaaee se.d an4 ooUeotet. and said tax 1s heTe now
lerted for 1;he otUTant J'ear. tm4 so ZID&Oh theeof ae shall be neoee-
saJ"y fo~ Mob S'QOO&eclin8' J8&,r while ·at.UA wAn'8l'lte. or aJl7 of tbaA.
are outatan41ng end unpa1d, on4 the eame 8thall b'e t!1.1J1Uall¥ asaeaee4
an4 o-alleohc1 ana. appUe4 tc the purp0ao named.
IT I S FUB'!BER ORJ>AIBBD tho.t 1n a441tion to the a4 valo~
tax levi.et. t-o prq the 1ntareat. and pr1no1pal td said wan-ante,. a
auff1o1ent aao'Dilt of the revau derlve4 f~:om thQ operation: of the
wat•nottta anA a ewe~ s:vs 'kms shall be &Ill ~ same la hweb)' 1rrevo-
oabl7 ple4ge4 to oreate a fund to pq the Utereat an4 prlno1pal of
sa14 wanant.s at their nepeotin maturi-Aatee.
fhe faot ~ha-t w. A. ll,rlot 1e 4ee1roua of opmtng the
lqr1ot .A441t1on, 4e41oat1q. tile stroete an4 alle78 to the Olt7 o1
u
L'QboOJt• aDi the Clty teems it aAYiaable e.nl to the best interest
o:t the 01t7 that sa&R& be &one an4 th& water an.d oewu l.Ules be
taken over 1alrDeU1J1.tel7 • Oftatea an emel'pnoJ' au4 ar& 1mpe%'a.t1Ye
publlo neoGaslty that tbe rules J"eqnirtug or4i:n.all4ea 't4 be na4
at moa than one meeiiug o·t the Cit," Oomrd.es1on be 811Spelid.e'-. Gil
it 18 eo ortta.l:ne4 aa4 thie or4Jnano• ahaill tab &tf'eot anf. be iJl
fowe from ani rlftn· tte passage an4 ap~ro'Val.
(UITl' S~L)
".PASSE.I.l, thi-s 'be //, .. day .o:t _.pril, 19P4.
AI'l?BO VED .• this the .. I£ clay of April.* 19-M.
~-
ORDINANCE NO. 2!5t!.
' \.......<
AliT ORDilTAJlCE AliEll,ING ORDDiABCE JJO .. 249 AUTHORIZING THE PURCHASE BY TBK
CITY 07 LUBBOCK OF WATER AliD SRWER LiliES £AfliED BY W .A .. JlYBICK Alm
LOCA!'RD ·IN THE JdYRICX ADDITIOll TO THE CITY OF LtmBOCX, ftXASJ PROVIDING FGl
THE ISStJABCE OF SIX PER CU'f f 6~) Il:t'JSREST BEARING WA.BRAHS Df PA!YEB'r
THEREI'OB; LEVYING Tim NECESSARY ~AX TO PAY THE IBTERES T AND PRINGIPAL 07
SAID WARR.AllTS AT MA 1'URfTYI AliD DECLARING All lmERGEllCY ..
WHEREAS, heretofore. on the 6th day o~ Karch, 1924• the City Comedssion
of the City of Lubbo~k. Texas, adopted an ordinance authorizing the
purchase ot w&.ter and sewer lines owned b7 W.A. Jlyr1ck and loc F\.ted in the
llyrick Addi ti ou to the City of Lubbock. and providing for· the issuance
of six per cent. City of Lubbock Water and Sewer Warrants in p~yment
therefor, the same being Ordinance Bo. 249, recorded in Book 3, page 178,
et seq •. of the llinutes of said City Commisal on.
WHEREAS, there bein~ a YBeancy i n the office or K~or on said d t te,
said o:rdinance provi'ded t ha t said warra nts be signed by the lteyor P:ro Tem-
pore ot s a id C1tys and
WHEREAS, some q uestion has arisen as to the regul ~r1ty o~ said proeeedinge•
and in order to meet the obJections which have been raised the City
Commiedlon dP.ems it advisable to amend said ordinance, and the same
ia therefore hereby a mended so that is shall hereafter be and read as
f"cSllowsa ~REAS, ~.A. Kyriek, of Lubbock, Texas, is the owner of acre~ge ~re
tof"ore knovm a s the :Priest Acreage in the City of Lubbock; a nd, whereas,
said W.A. V.yrick h a s h a d said acre~ge pl ~tted in lots a nd blocks, to be
known a.s the Jlyrick Addition to the City of Lubbock, a nd has ta d con-
structed in said a ddition, with the consent and approval of the City,
an 8" sewe r ma in a nd a 6" water main including hydrants, manholes, etc.,
at a cost of $3 ,520.74; a nd•
WHEREAS• s a id w.A. Hyrick is desirous of selling s a id sewer a nd wa ter
linea to the City o~ Lubbock a nd offers to sell same for the sum o~
'"t3,520. 74 a nd a g r e es to accept in p n,ment therefor $20."74 i n cash a nd tbe
balance, ~3,500.00 in lesally issued warrants of aa.id City, bearing
interest a t the rate of 6% payable semi-ann~.lly~ and maturing serially
as follows: ~l,.ooo.oo in 5 ,.-ears from their date. $1.000 in 6 years and
$1,500 in 7 years from their ~~teJ and~ whereas, this City Comniesion
deems it advisable and to the be s t interest of the City to accept said
o:fterl
llOW THEREFORE BE IT ORDAINED BY 'l'HE CITY OF .LUBBOCK, ~. that s a id
otter be a nd the same is hereby aecepted and the said water ~nd sewer
lines purchnoe d a s the property· of t~e City o~ Lubbock, fexas.
~a t s a id sum ot $3,520 .. 74 is hereby made ~nd decla red to be the l ~wtul
debt of s a id C 1 ty of I.ubbock, Texas, $20.74 to be p a.id to s a id w.A.
Vyrick in c ash a nd the balance $3~500.00~ in legally issued wa rrants of
-.._..said City.
That warrnnts of s 'l id City, to be called "CITY OF LUBBocr r.~1~R AliD SEWER
WARRANTS SERIES 1924", shall be issued in the sum of Three Thouennd liye
Hundred Dol lars ($3~500.00)
Said warra nts aba ll be dated the 15th day of April• 1924 shRll be numbered
from one (1) to three (3} inclusive, ~nd shall be in den~nn ~ion a nd
shall mature a s fo l lowa:
w ARRABT mnnnms .
]._.
2
~
DIDifOMINATl ONS
,1,000.00 1.ooo.oo 1,5oo.oo
U:JtTURITIES
Janu~ry 10, 1929
Janua ry 10, 1930
.Ta nua ry 10, 1931
Said warrants ah:1 ll be -=;r interest from da.te until p~id,. at the r"te of
six per centum (6%) p e r a nnum, payn ble Janu ~ry lOth, 1925, ~nd semi•
annually theren ft e r on the l .Oth day of .July and the lOth day cf J"anu a ry
of eneh year which i n terest shal l be evidenced by coupons atta ched to
eacb or s a id wa rrants. Past due inte r e st sha ll be ~r interest a t the
r n te ot six per centum (6~) per a nnum from maturity until paid.
Principal and interest of said warrants shall be pa ya ble in lawfUl money
of the United St ~teso~ America upon presenta tion a nd surrender of proper
I r
L_-
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Ord. I 252 • Pg. 2.
warrant or coupon at the Continental & Commercial National ~nk. Chica go,
Illinois• said warrants shall provide th-t in the event of de fault in tbe
payment of principal or interest• and the same is placed in the hands
of an attorney for eolleetion, or if collected by sa1t. or by le~l pro•
ceedings of a ny kind, an a4~tional wmount of ten per centum (l~) on
the princi-pa l a.nd. interest(;.'then due sha ll be added as attorney's fees.
Said warrants shall be signed by the Mayor, countersigned by the City
Secreta ry and registered by the City Treasurer. and the seal of the City
shall be impressed upon each of said warrr-m ts. Fac Simile signa tures
of the Ma yor and City Secreta ry may be 11 thographed upon the interest
coupons.
The f o rm. o:f' s·1.id 'JVa.rra nta sha ll be substantia.lly as follows:
Bo. __ __
UNITED STATES OF AMERICA
STATE OF TF.xAS
COUNTY OF LUBBOCK
;;l.ooo.oo
(No. 3 • $1.500.00)
CITY OF LUBBOCK WATER AND SEW~R WARRANT SBRIES
1924.
This ie to eerti~y that the City of Lubbock, a municipal corporation
in the C,ounty of Lubbock, State of Texas, is justly indebted to w.A.
Myrick• hie as s ig11s c::: bearer, in the principal sum of
OBE THOUSAND DOLLARS
($1,000.00) in l r·wvful noney of the Un1 ted States of Americc:.• ~i th interest
thereon. from d ~te hereof until paid, at the rnte ot six per centum (6%)
per annum, interest payable Januar,v lOth. 1925, and semi-annually there•
after on the lOth d P.y of J'uly and the 10th day of J'a nua ry o'f e ·•ch yea r,
past due interest shall bear interest at the rnte ot six per centum (6~)
per annum from m~turity ~ntil paid; both principal and interest p a ya~l e
~t the Continental & Ccmmercial National Bank, Chica go, Illinois, upon
present ~tion and surrender of vrarrant or prop er coup on; a n d th~:i ty
Treasurer of &Rid Cit.Y is hereby authorized, ordere d a nd directed to pay
to said w.A. Myrick, his asoi ~s or be?.rer, a t the s a id b a n k , the aaid
sum of On e 1'hot~s a nd Dollars ($l,Ooo.oo)) on the lOth da y c f J a uua :y, 19_ ,
the d a te of na turi ty ct this warrant, in f'ull settlem ent of the ~ndebt
edne.os hereby evidenced~ froDl. the 0 Spe cia.l Wa t e r a nd Sewe r Wa rrant Fund•
Series 1924" of s a id City levied, assessed a nd create d for t ha t p 1~rpose.
IT IS HE REBY especi a l l y a greed tha t if this warrant, or any interest
coupon h e reto a tta ehed, is not paid a t maturity, and the same is placed
in the h a nds of n n a ttorney for collection af'ter ma turity there of,
or suit is filed the r e on. or collection mad e b y l ega l p roe eedi ngo of a ny
\_..;kind• a n a dditiona l 9.mount of' ten p~r centum (10%) on the principal a nd
interes t then due• shall be added as attorney•a tee.
THIS WARRANT is one of a se~ies of three ~~rrants, of like date and
tenor,. e x cep t as to d enom.ination and maturit,-,. aggreg"J.ting the aum. of
Three Thouaand ll'i ve Hundred »olla.rs ($3 , 500.00) issued for the purpose of
evidencing the indebtedness of the City of Lubbock to said w.A. Yyriok,
his assigns or be a rer~ for water and sewer lines loca ted in the Myrick Add•
1 tion to the City of Lubbock and purchased b~r the City o:f Lubbock from
s a id W.A. Myrick. under and by virtue of the Constitution and laws of the
S t a te of !exa o. a nd the City Charter of the City of LuQbo~k, Texa s, and in
pursuance o :f' a n ord ina nce adopted b )r the City Commission of' t h e City o!
Lubboekt T ~xa o, on the 11th day o:f April, 1924, q,nd recordGc! in. B(>ok 3, page
188 et seq • of t he l Unutes of s~id City Commission ..
THE DATE OF tis warrant, in conf'o:rr.ni ty t'T i th the prdinance n bove mentioned,
is April 15th, 1924; e nd it is hereby .certified and recited th..,t a.ll acta,
conditions a nd things required to be d one precedent to and in the ieBuP-.nee
of this warrant, h~ve been properl~ done and per~or.med and have happened
in regul A r ~a nd due time 9 ~or.m and matmer. a a required b y l aw. a nd thn t the
tdal indebtedness of aa.id City, including t h in warra nt,. does n ot exceed MJ.Y
constitutional or sta tutory limitation.
' '
Orde # 252 -Pg. 3•
IB TBSTDIOBY WJIEREOJII, the City ~omminsin:t of the C it;y of Lubbock• Texas.
has caused the seal of said City to ·be hereto attixed and this warrant to
be 81. gned b:y the Jlayor and countersigned b7 the C1 t7 Secretary, aa or
the date last above written.
COUBTR:RSIGBEI>s
c1£Y Secret ~r;y. City of
Lubbock• Texas.
Jlayor. city ol LiibbOck.
'texas .
REGISTERED. 1'bis _ da7 of ---~1924.
The tor.m of interest coupon sball be B9batanti8117 as tollowa1 {Coupon
Bo. 1 shall be for eight monthll" and "t-wenty five days interee\)
lfo. __ _
Oli THE lOTH DAY 07 _______ 19_ ·----
4he City of Lubbock~ Texas. will pay to W.A. Byrick• his aaaigna or
bearer., at the Continental 1: Commercial Jlational Bank• Chic o.go.
Illinois• the sum ot dollars (I ) being eix months•
!,._, interest due tbat da:y on CITY of LUBBOCK VlA'l'ER AliD SEWER WARRAB'l' SERIES
1924, »O. dated April 15th~ 1924• to which this coupon ia attached
and is a part thereot •.
city secretar'J' lay or
The tollowingasslgnment shall 'be printed on the 'back of e "~ch ot said
warrants a
ASSIGBUE:trl.
I hereby certity that I have received the wi~n principal warrant.
and the interest coupons thereto annexed, tram the Ci~y ot Lubbock,
Texas, and for value· received, hereby transfer,. assign,. sell and deliver,
without recourse, to bearer,. q ll right,. title and interest I have in and
to the swne• and also the prop~tionate part of the debt due me, with
interest thereon, by said City Which is .rep~esented by the amount c a lled
!or by this principal warrant a nd the annexed couponsJ and said bearer is
hereby subrogated to all claims,. liens,. right or title, whether in law
or in ·equitY't which a re or may be secured t.o me, and I hereby authorize
bearer ~ collect the s ~e and give fUll receipt and acquittance thereof
in my nau.
Said warrants shall be executed and delivered to ~aid w.A. DYrick upon
deli very by him to t.he City of proper traaater of said water and a ewe r
line.to the Cit;y ot Lubbock.
11' IS PUR!HER ORDAIBZD that a fUnd be and the · same ia hereby made and
created and sha ll be s e t aside and designated ae •SP.KCIAL WA7ER AND
SEWEB WARRA.Ilf Fmfl), SBlliES 1924• • which fund when collected shall be used
to pay the interes~ and provide the necessary sinking fund to pay aal 4
warrants at maturit7., a nd for no other purposeJ that to create aa14 t\mcl
for the purpose of paying the interest. on sa1 d warra.n\8 an4 providing
suff"icient sinking :fUnd to p a y them a ~ ma~ur1~7• a tax of and at the rate
or one cent (1.¢) ou the '100 valuation o~ all taxable property in eai c1
City shall be annually levi ed, assessed a nd collected• and said tax ia
here now levied tor the current year and so much thereof as shall be
necess ~ry for each succeeding ,-e a r while said warrants, or m 7 or them,
are outstanding a nd unpaid, and the same shall be annual]J' assessed a nd
collected and applied to the purpose named.
J -
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C ORD. # 252 -Pg. 4.
·u the
~-~IT IS FURTHER OBDAINED that in.·addltion to/ad valorem tax levied to
pay the interest and principal of said warrants. a sufficient amount
of the re.venue derived from the operation of' the waterworks ~d sewer
systems shall be and the same is hereby 1rrevocabJ.7 pledgecf to create
a tund to pay the interest and principal of said warra nts at their res-
pective maturity da tes.
The $act that w.A. Vyric¥ ia desirous of' opening the Kyriek
Addi'tion, dedie"l ting the streets and. alle78 to the City of Lubbook.
and the City deems it advisable and to the best interest of the City
that smne be done and the water and sewer lines be taken over !Dmedia tely•
crea es an emergency and an imperative public necessity that the rules
.requiring ordinances to be read at more than one meeting ot the City
Commission be suspended, and it iss ordatne~ and this ordinance shall
-take effect and.be in force fram .and after its passage and approval.
I . ! ..
PASSED, this the 11th day of April• 1924.
'
APPROVED, this the 11th day of April, 1~4~ .
J • .R. Ge.rma.n:y
City Secretary. City ot
Lubbock, ~exa.s.
u
F.R. Friend
Jlayo'!"• City of LubbOck,
Texas.