HomeMy WebLinkAboutOrdinance - 254-1924 - Ordinance Authorizing The Issuance Of Bonds For The Sum Of 15,000. - 04/24/1924ORDINANCE AUTHORIZING ISSUAnCE OF WAfERWORXS
BONDS.
THE STATE OF TEXAS)
CITY OF LUBBOCK)
COUNTY OF LUBBOCK)
On this the g+t!£ day of April• 1924, the Oity
OoDIDission of the Oity o~ Lubboolt, Texas, convened in regular
session 1n its regular meeting plaoe, all members thereof, to-
wit:
F. R. Friend, M~or •
H. G. Love. ~
J._ o. Jones, )
} Commissioners,
Geo. 0. Wol:tfarth •l
w. s. Posey. )
being present • and, among other business transaoted, the following
ordinanae was adopted:
"ORDilfANOE llO. ~ §'4, AK ORDINABOE BY THE CITY COM-
MISSION OF THE OITY OF LUB~EIAS, AUTHORIZIBG TBE ISSUANCE
OF :BONDS FOR THE PRI:NOIPAL SUM OF tl6,000.00 FOR THE PURPOSE OF ../hd-
6
• , .ur~~~ .... ~"Y~ w~~ ~,~4-
movtDING FoR THE IiEVY, ASSESSMENT AND COLLECTION OF A SUFFf<liEBT ,
TAX TO PAY THE INTEREST AND CREATE A SI.NKING FUND FOR TBE RED!WP-
TION OF SAID OOBDS AT MATURITY: mESORI:BIBG ;_HE FOHil OF BOBD: ~--·-..
DEOLARIN(! All EMER~ENO.Y ... "~~p..v ~~ ~ ~ ~~1111s.a1oner · moved that the ord e
be placed on 1 ts first r nsi seoonded by Oommissioner
and oarried by the following vote:
YEAS~ Commissioners Love, Jones. Wolfi'arth & Posey.-
DAlS: None.
Carried; plaoed on first re~g.
001111111BaioMr~-&J=:::---_moved the ordlnanoe
pass first reading; seo onded by C ~ aner """'~~~.__., and oarrie 4
by the following vote:
YEAS: Ooumiss1onera Love • Jones, Wolffarth & Posey.
NAYS: Bone.
Oarried; ordlnance passed first reading.
8
)
L)
Oommissianer a~ moved that the rules be sus-
__, pen4ed and that the or~e be plaoed on seoond reading; seoondecl
b7 Oarmdssione~~J;;t.. and oarried by the following vote: .
~~om1ss1oners Love, Jones, Wolffarth & POS87•
BAYS; Bone.
Carried; ord!nanoe plaoed on seoond reading.
00'lmliae1oDIIJr~~4d moved that the ordinanoe pass
seoond reading; seoonded b7 ~i:sioner . ~ and aarr1e4
br the following vote:
Oarriecl;
adopted.
YEASs Oormniss1oners Love, Jones. Wolffarth & Posey.
BAYS; None.
•
YEAS: OoJliDiasioners Love, Jones, Wolffarth & Posey.
BAYS: None •
l!ayor lPriend then declared the ordinanoe finall.7
The ord~oe follows;
ORDINAlfClE NO. :l §-1-
AB ORDINANCE BY THE CITY OOlWISSION 01' TBE CITY
OF LUBBOCK, TEXAS, AUTHORIZING THE ISSUABOE OF
BOBDS FOR THE PRIBJIPAJ, SUY OJ' $15,000.00 FOR "'
THE PURPOSE OP ~ ~ ~"'-~ ~ ~~ ~ "!'~ ~/--~·---7
PROVIDIBG FOR THE LEVY. ASSESSME.IJ1f AND COLLECTION
OF A SUFFICIENT TAX TO PAY THE INTEREST AND CREATE
A SIDKING FtmD FOR THE REDEMPTION OF SAID BOl'iiDS AT
~~~~~g~~~HfA~~1!vD~~u .. --.~
L~~---J.. ~, ......... ~ fo-~ -z/...W.CZA.J,'
WHEa • at an eleoticm held in the Oity of Lubbock:.
!rexas. on the 21st dq of November • 1923. a ma3or1ty of the quali-
fied voters-. who are property taxpayers of the Cit7 of Lubboot.
voting at said eleot1on sustained the proposition to issue the bonds
9.
~\_,/
hereinafter described for the pr1noipal sum of $1.5.ooo.oo by a vote
of 420 votes, and which oarried by a majoritl' vote of 402 1n ~avor
thereof. being "Por the iasuanoe of tls.ooo Waterwor~s Bonds,"·
TSEREfORE, BE I~ ORDAIBED BY TBE OITY OF mBBOOX• TEXASt
Section 1~ That the bon as of said 01 ty, to be called
"CITY OF LUBlK>OK WATERWORKS BOliDS, SERIES 1924"" be issued under
and by virtue of the Ocmstitution and laws of the State of !l'exas
and the Charter of the Oity of Lubboolt• Texas, for the purpose of
.,...~_.....~ ..t....---~ ~
3the -pr!,M pal 811111 of ll'~ean !hOUS&Ild Dollars l$16.000.00).
Seetion 2. That sa14 bonds shall be numbered oonae-
outi vely from one ( 1) to fifteen ( 1.5) • 1mlus1ve • and shall be in
the ~enom1nat1on of One ~ousancl Dollars ( $1,000.00) eaoh• aggre-
gating the sum of Fifteen Thousand Dollars ($15,ooo.oo).
Seotion 3. That the:y shall be dated ~ lst, 1924, and
shall become due and payable serialq as follows:
BOBD NOS.
l
2
3
4
6
6 v
8
9
10
11
12
13
14
15
MATURITY DATES.
Ap~l lOth, 1950•
April lOth, 1951,
April lOth, 1952,
April loth.-1953,
April lOth., 1954•
April lOth 1 1955 •
April lOth, 1956•
April loth• 195V ~
April lOth, 1958•
April lOth• 1959,
April loth • 1960,
April lOth, 1961 9
April loth~ 1962•
April lOth • 1963,
April lOth • 1964 •
AMOUNTS.
tJ..ooo.oo
1.,000.00 1,ooo.oo
1.,000.00 t.ooo.oo 1.ooo.oo 1.,ooo.oo 1-.ooo.oo 1.ooo.oe 1,ooo.oo 1.ooo.oo
1,000.00
1,.000.00
1,000.00
1 .. ooo.oo
Section 4. That they shall bear interest at the rate
of five and one hal.f per oentum (51-%) per annum,n pa3J'able April lOth,
1925, and semi-annual.l.y thereafter on the lOth day of Ootober an4
the lOth day o"f April of each year.
Seotion 6. That the principal and interest of said
series of bonds shall be payable in la.vdal money of the Un1 ted
States of Amerioa upon presentation and surrender of bond or proper
coupon at the Hanover Bationa1 Bant, New Yorlt Oity, New York:.
10.
!
Section 6. That each of said bonds shall be signed ~
the Uqo1". countersigned b~ the City Seoretary,. and registered by
the City ~easurer, and the corporate seal of the 01ty of Lubboolt
shall be impressed upon eaoh of said bonds.
Seotion 'f. 1'hat the faoaim11e signatures of the Mayor
and Oity Seoretar,r ~ be lithograPhed on the ooupans attaohed to
said bonds. and ahall have the same effeot as if they had been signet
by them•
as follows;
Bo •. __
Seotion a. The form of said bonds shall be substantially
UBITED STATES OF AME RICA
&rATE 011' 9XAS
OOUN'TY OF WBBOOX.
CITY Oli' LUBBOOK WATERWORKS BOND. SimiES .1924.
$1,000.00
K1lOW ALL UEB BY THESE PRESENTS1 That the 01 ty of Lubbook.
in the OolDlty of Lubboat. State of Texas. a muniolpal corporation
duJ¥ 1noorporated under the laws of the State of Texas. for value
reoeind. hereb7 prom1aes to pay to the bearer hereof on the lOth
chq of April. 19 __ • the BllDl of
OBE f.I:IOUSADD DOL.I.J.RS
($1.000.00) • i:n lawful. mone~ of the tJn1 tea States of Amerioa, with
interest thereon from date hereof at the rate of five and one hal~
per oentum (~} per ann'tlm, interest payable April lOth. 19'25• and
semi-annually thereafter on the loth da~ of Ootober and the loth
dq of April of eaoh year • pr1noipal. and interest pa,able upon pre-
.sentatlon and surrender of bond or proper ooupon at the Hanover
.National Bant._ Bew York City~ llew York. and the Oity of Lubboot
is hereby held and f11"1Dly bound. and its fa\th and oredit. and all
real and persaoal. property in said 01ty~, are hereby irrevooab]¥
pledged for the prompt p&J1D.Gnt of the principal of this bond and
the interest thereon at maturity.
THIS BOm> is one of a series of fifteen bonds, numberea.
:from 1 to 15. 1nol1JS1ve. 1n the denomination of One Thousand Dol.lars
($1.000.00) eaoh. aggregating Fifteen Thousand Dollars C$15.000.00).
- , 1 ' I -A ~r ~o~~~-tiiZ;~···7 ~
{
under and b7 virtue of the Ocmstitution and laws of the State o~
Te%88 and the Oharter of the Oity of Lubboot. Texas. and 1n pursuanoe
of Or4tnanoe Ilo. ;;;/ 6 4 adopted b;y the Oit7 Oonmdssion of the 01 ty
of Lubboek,. Texae. on the 2.1 da:f ot April,. 1924• and reoor4&d
in Book: ~ ~ hge :J9J'l,et seq. • of the llinutes of said 01 ty
Oommiaeion.
IT IS HEREBY CERTIFIED ·Am> REO I TED that the issuanoe of
this bond. and the series of whloh 1t is a pa.rt. is d~ au.thorlse4
by law and by a vote of the qualified property taxpaying voters of
the Cit7 of Lubboo k• fexas. voting at an eleotion held for that pur-
pose within said Oity on the 21st &q of November. ~923l that all
aots. o Qlditions and things required to be done preoeaent to and
in the iesuanoe of this series of bonds, and of this bond. have been
properly done and performed and have happened in regalar and due
time. fo:rm and manner as required by law; that auff1o1ent and proper
provision for the levy and oolleotion of taxes has been made whioh
when oolleoted shall be appropriated exolusive~ to the pa~nt of
this bona. $116. of the series of which it is a part • and to tlle ~
ment of the interest ooupons hereto annexed .as the saue shall beecme
due; an4 that the total indebtedness of said Oity o£ Lubboolt. inold-
ing the entire series of bonds of which this is one. toes not exoeee
aey oonstitut.1onal or statutoq limitation.
Ill WITNESS WHEREOF• the 01t:V of Lubboolr.:, by its Oity
Commission,.. bas oaused its oorporate seal to be affixed hereto.
and this bond to be signed by i~s ~or 1 ooantorslgned by its Oity
Seoretary-.-and registered by its 01ty Treasurer. and the interest
coupons hereto attaohed to be exeouted by the lithographed signature•
of the M~or and the Oity Seoret.ar:v; the date of this band. in oon-
formity with the ordinanee above referred to. being the 1st day of
~. 1924.
12.
: ..
OOONTERSIGNEDl
Oily Seoreta:ry, ottj' of
Lub boo lt-1 Texas.
)
llayor • Oity of Lubbook:. Tams •.
REGISTERED:
t!lty !L'reasurer. city 0 f tlibbook.,
Texas ..
Seot1on 9,. The form o"f. ooupon shall be substantially
as follows: C Exoept Coupon lfo. l. shall be for 11 moe. and 10 dqg"
interest.)
Bo. ---$2'1.60
OB THE lOTH DAY OF ------• 19 ___ t
the City of Lubboot. ~exes, premises to pay to bearer at the Hanover
Nat 1onal Bank• Bew York: City • Bew Yort, t .he sum of Twenty Seven &
60/100 Dollars ($2'1.60), being six months' interest on CITY OJ'
LUBBOCK WAfERWORICS BOND • SERIES 1924 w No,. ---• dated May lat •
1924.
Jl&Yor.
dlty Secretary.
Seotion 10. The following oertif'ioate shall be printed
on the bact of each bond'
OFFICE OF THE COMPTROLLER~
STATE OF TEX:AS •
\
I HEREBY CERTIFY that there is on file and of reoord
1n mw offiae .a certificate of the Attorney General of the State of
Texe to the effeot that this bond bas been examined by him as re-
quired by law and that he finds that 1t bas been issued in oonformit:y
with the Oonst1 tution and l•s of the State of Texas and the Oharter
of the 01ty of Lubbock:, Texas~ and that it is a vall4 and binding
obligation upon said Oity of Lubbook, ~exaa-. and said bond has this
d&J' been registered by me.
WITNESS MY HAND AND SEAL OF OFFICE, at Austin, Texas •
this ___ day of--------" 1924.
Ocmptroller of PUblic Accounts
of the State of Texas.
13.
\. )
Seotion 11. IT IS FURTHER ORD.liNED BY THE OITY QP
LUBBOCK. TEXAS• that while said bonds• or an;v of them. are outstan4-
1,ng and unpaid• 1n order to provide for the paJ~Dont of pr1no1pal of
and interest on sa14 bonds. there allall be • and there is hereb7 leviel
a tax on all the taxable property in said Oit;y of Lubboat, Texas. suf-
ficient to produoe the follmring amounts in the fo11ovang l'&ar&, mat-
ing due allowanoe for delinquencies and oosts of eolleotion:
YEAR I IBTEREST PRIBOIPAL TOTAL
1,24 due 4~0l25 -Jl79.10
n 10 10/25 -12.50
$300.00
.1,491 .. 60·
1925 --" 4llOl26 • 3412.60
" 10/10/26 -412.50
t300.00
$1 .• 125.00
19.26 n 4/.10/.27 ~ 1412.50
" 10/10/2'1 ~ ~2~50 $300.00
$1.125,.()0
'
192'1· n 4/.10/.2.8 -~.5ri
" 10/10/28 -12.60
$300.00
....
$1.1.25.00
19.28 ft 4/.10/.29 -lil2.60 $300.00
" l0~10Z28 -12a50
$300.00
$1.125.00
1929 " 4 lOZ3o -12.50
n 10/10/30 -12~50 $1,.125.00
1930 " 4/.10/.31 -3:12.50
n 10/10/31 -12.50
$300.00
$1.125.00
1931 " 4/.10/.32 -l:i2.50
" 10/10/32 -2.50
$300.00
11.125.00
1932 " 4/.10/.33 -1412.50
n· 10/10/33 -412.50
$300.00
$1.125.00
1933 " 4~0/.34 -!:1.2.50
n 10 10/34 -· 12.50
$300.00
$1,125.00
1934 " 4/.10/.35 -1:12.50
" 10/10/35 -12~50 $300.00
$1,126.00
1935 " 4/).0/.56 -"412.50
" 10/10/36 -12.60
$3oo.oo
tl,125.00
1936 " 4/.10l37 -1:12.50
" 10/10/37 -12.60
$300.00
$1.125.00
193'1 n 4/.10/.38 -i:l2.50
n l0/10/38 -12~50
$300.00
$1.125.00
14.
..
l
Y.FA.R IBTERESf PRINCIPAL TOTAL
\.._.,> 1938 due 4/.10/.39 -~12.60 poo.oo
I tf 10/10/39 -;412.50 $1,125.00
1939 ft 4/.10/40 -ti2.50
" 10/10/40 -2.50
$300.00
$1.125.00
1940 " 4/),.0/4,1 _ m2·50
u 10{10/41 -12~50
t3oo.oo
$1.126.00
1~1 ~ 4/10/.42 -!:12~50
" 10"/10/42 -12 •. 50
taoo.oo
$1.1.25.000
1942 " 4/).0 /. 43 • 3:12.50
" lO/iOl43 -12.60
tsoo .. oo
.1.125.00
1943 " 4llOl44 -!:12.60
" 10/10/44 -12,50
$300.00
t1,126.,00
1944 " 4~0/.46 -J:l2,50
" 10/10/46 -12.60
$300.00
$1.125.00
1945 " 4/10/.46 -· !112.60
" 10/10/46 -12 .. 80
$300.00
$1,125.00
1946 " 4/.10/.4'~ ~12.50 ~ 10/10/47 -~412.50
poo.oo
$1.125.00
194'1 " 4/.10/48 -!:12.50
" 10/10/48 -412.&0
poo.oo
$1,125.00
1948 ft 4/.10/.49 -i!l2.50
" 10/10l49 -12.50
$3oo.oo
$1.,1.25.00
'1949 " 4/.10/.50 -~12.50
" 10/10/50 -38&.00
t1.ooo.oo
tl,'19'1.60
1950 " 4/.10/.51 • ~385.QO
" 10~0/61 -35V.50
$1.000.00
$1 .. 'T42.50
1961 " 4/.10/.52 • ~35?.~0
" 10ll0/52 -330•00
t1 .. ooo.oo
.1.&8'1.50
1952 " 4/.~0/.63 -,330.00
n 10/10'l53 -302.50
t1,000.00
$1.-632.50
1953 ~ 4/.10/.64 -i 302.50
-10'll0l54 -275.00
$1.000.00
$1.57'1.50
1954 n 4/.10/.55 -~275.00
n lOllOl56 -247.60
$1,.000.00
$1 .. 522.50
1955 " 4/.i0/.66 -,24,.50
" 10/10/56 -220.00
$1.000.00
$1.46V.50
1956 ~ 4/.10/6' -1220.00
" 10/10/5J -192.50
$1,000.00
.• 1,412.50
196'1 " 4/.10/.58 -*192.50
" 10/10/58 -165.00
$1,000.00
$1.,35'1.50
15.
)
YEAR. IltT.m.R5T PRINCIPAL TOTAL ,
1958 due ''lfo/.59 • i l65.eo
" 10 10/59 -13V.50
$1.000.00
tl,302.50
1969 " 4/.10/.60 -~l3V.60
" 10/10/60 -110.00
$1.000.00
$lwUV.50
1960 " 4/.10/.61 -!110.00
" 10/i0/61 -82.60
$1,000.00
$1.~92.50
1961 " 4/.10/.62 _ a 82.50
" ~0/10'/&2 -56.00
$1,000.00
$1.117.50
1 962 " 4/)..0/.63 -! 55.00 $1.,000.00
n 10/10/63 -ow 2'1.50 .1.082.60
1963 " 4/10/64 -$ 2V.5o $1.000.00 $1.027.50
In ol'der to proo.uoe the neoeseary amount for the pa,ment
of principal. and interest on said bonds. there is hereby levied for
the ourrent year upon all ts.xable property in said Oity a tax of
~ oants <c! s{) on the One Hundred Dollars•
valuation. and annuall.7 thel'eafter the amount of tax shall be oom-
puted which will be sufficient to pr.oduoe the amount named above in
eaoh of the years respeat.ively • and such taxes shall be assessed and
collected and when oolleoted shall be applied to the purpose named
and no other.. .
Section 12.-Itt IS FURTHER ORDAINED that F. R. Friend.
'
Mayor of said .&i~.t shall be authorized to ta.lte and have eharge o~ .
all neoessary re~ords pending investigation by the Attorney General
and shall talte and have charge and oontrol of the bonds herein au-
thorized pending their approval by the Attorney General and registra-
tion by the Comptroller of Ptiblio Aooounts.
Section 13. !he fact that the Oity of Lttbboot is 1n ur-
gent need of the waterworks extensions herein oontemplated oreates an
emergency and an imperative public necessity that the rule requiring
ordtnanoes to be read on two separate days before final passage be
suspended. ani. such rule is hereby suspended 9 and it ie ordained that
this ordtnanoe shall tate effeGt and be in foroe immediatelY upon its
passage and approval.
PASSED• thia the ~~ day of April, 1924.
APPROVED• this the ~'f, clq of April, 19_24.
16.
..
j
;
I
1
(Oifi SEAL)
17.
ORDINANCE AUTHORIZING ISSUANCE OF WATERWORKS
BONDS.
TREl STATE OF TEXAS)
CITY OF LUBBOCK}
COUNTY OF LUBBOCK)
}
On this the !24 day of .April, 1924, the C-ity
aommis.sion of the City of Lubboolc, Texas, convened in rego.lar
session in ita regular meeting place, all members thereof, to-
wit:
F. R. Friend, l{ayor,
H. G. Love, )
)
~. o. Jones, )
) Commissioners,
Geo. c. Wolffarth,)
)
w. s. Posey, )
being present, and, among other business transaeted, the following
ordinan~e was adopted:
"ORDINANCE No.lof1T, AN ORDINANCE BY THE CITY COil-
MISSION OF THE CITY OF LUB , EXAS, AUTHORIZING THE ISSUANCE
OF BONDS FOR THE PRINCIPAL SUM OF $15,000.00 FOR THE PURPOSE OF J_j). IJ' .~~ ~~~.w~~~~uw(1
PROVIDING FOR THE LEVY, ASSESSMENT AND COLLECTION OF A SUFFICIENT
TAX TO PAY THE INTEREST AND CREATE A SINKING FUND FOR THE REDEMP-
TION OF' SAID BONDS AT MATURITY: PRESCRIBING THE FORM OF BOND: AND 1 D~ /! ~Ji~r,~~k.~~ ~ 1--: ·r-w · .r '-) ~ ~
Commissioner 9'1f"7'l.d/a moved that the ordinance
be plaoed on its first reading; seoon~ed by Commissioner ~
and carried by the following vote:
YEAS: Oommissi onere Love, Jones. Wolffarth & Posey.
NAYS: None.
Carried; placed on first reading.
Commissioner ~~ moved that the
pass first reading; seeonded by Co~issianer ~~ ) •
by the following vote:
ordinance
and carried
YEAS: Oemmissioners Love, Jones,··wolffarth & Posey. '
NAYS: None.
I
Carried; ordinance passed first reading.
Oommissiane:r 9ii7V?c6> moved that the rules be sus-
pended and that the ordinance be plaoed on seoond reading; seconded
by Oommissioner '-tO~!J..J;;d.,. , and oarried by the following vote: .
YEAS: Oonmissioners Love., Jones, Wolf:farth & Posey.
NAYS: Bone.
Carried; ordinance plaoed on second reading.
Oomm1ss1oner .(U~.r;t. moved that the
second reading;. seconded by ~sioner ~ ,
#'
ordinance pass
and carried
by the following vote:
YEAS: Commissioners Love, Jones, Wolffarth & Posey.
NAYS: None.
Carried; ordinance passed ssoond reading.
Oommissioner 4:,~. moved that the ordina.me pass
third and final reading; seconded by Commissioner -~._~--~~~/)~----·
and carried by the following vote:
adopted.
YEAS: Commissioners Love, Jones, Wol:ffarth & Posey •
.NAYS: None.
Mayor Friend then declared the ordinance finally
The ordinance follows:
ORDINANCE NO. ::254
AN ORDINANCE BY THE CITY COMMISSION OF THE CITY
OF LUBBOCK, TEXAS, AUTHORIZING TBE ISSUANCE OF
BONDS FOR THE PRINCIPAL SUM OF $15,QOO.OO FOR -~
THE PURPOSE OF~~~~ ~
A...tr ei.1:(A; LV d-lt./<4 f-4;4-~ • ...._.
PROVIDING FOR THE LEVY, ASSESSl.lfENT AND COLLECTION
OF A SUFFICIENT TAX TO PAY THE INTEREST AND CREATE
A SINKING FUND FOR THE REDEMPTION OF SAID BONDS AT
MA.TURI TY: PRESCRIBING THE F~ OF BOND h__~ ·-~~~-::-_ _ _ .. 17 ..
ING AN EMERGENCY~IL«"..,..•"'•:t ~~ ~ hc!'•r .tL:C'" ~ Mf L••.., ~"'1 ~1-&.7.. ~Lvc."r:.-r ~
WHEREAS, at an election held in the aity of Lubbock,
Texas, on the 21st d~ of November, 1923, a majority of the qua11-
fied voters, who are property taxpayers of the City of Lubboot,
voting at said election sustained the proposition to issue the bonds
hereinafter desoribed for the principal sum of $15,000.00 by a vote
of 420 votes, and whioh oarried by a majority vote of 402 in favor
thereof, being "For the issuance of $15,000 Waterworks Bonds,"-
THERErORE, BE IT ORDAI.NED BY THE CITY OF LUBBOCK, TEUS:
Seotion 1. That the bonds of said City, to be called
"CliTY OF LUBBOOK WATERWORKS BONDS, S:ERIES 1924", be issued under
and by virtue of the Oo.natitution and laws of the State of Texas
and the Charter of the City of Lubbock, Texas, for the purpose of
~ a.-J-~ ---.k .u/~~£4 ~
in the prin~ipal sum of Fifteen Thousand Dollars ($15,000.00).
Se~tion 2. That said bonds shall be numbered conse-
cutively from one (1) to fifteen (15), inolusive, and shall be in
the denomination of One Thousand Dollars ($1,000.00) eaoh, aggre-
gating the sum of Fifteen Thousand Dollars f t l5,ooo.oo).
Section 3. That they shall be dated Yay 1st, 1924, and
shall become due and payable serially as follows:
BOND NOS.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
MATURITY DATES.
April lOth, 1960,
April lOth, 1951,
April lOth, 1952,
April lOth, 1953,
April lOth, 1954,
April lOth, 1955,
April lOth, 1956,
April lOth, 1957,
April lOth, 1958,
April lOth, 1959,
April loth, 1960,
April lOth, 1961,
April loth, 1962,
April lOth, 1963,
April lOth, 1964,
AMOUNTS .
$1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,ooo.oo
1,000.00
1,ooo.oe
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
Seotion 4. That they shall bear interest at the rate
of f ive and one half per oentum ( 5i%) per a.nnum,n payable April lOth•
1925, and semi-annually therea~ter on the lOth day of Oatober and
the lOth day of April of eaah year.
Section 5. That the prinoipal and interest of said
series of bonds shall be payable in lawinl money of the United
States of Amerioa upon presentation and surrender of bond or proper
ooupon at the Hanover National Bank, New York City, New Yor~.
Seotion 6. That each of said bonds shall be signed by
the Mayor, countersigned by the City Seoretary, and registered by
~he City Treasurer, and the corporate seal o£ the City of Lubboo~
shall be impressed upon each of said bonds.
Section rl. That the faosimile signatures of the Mayor
and crity Seoretary may be lithographed on the ooupons attaohed to
said bonds, and shall have the same effect as if they had been signed
by them.
Seat ion 8. The form of s .aid bonds shall be substantially
as follows:
No. __ _
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK WATERWORKS BOND, SERIES 1924.
$1,000.00
KNOW ALL MEN BY THESE PRESENTS: That the City of Lubboo~,
in the County o£ Lubboot, State of Texas, a municipal corporation
duly incorporated under the laws of the State of Texas, for value
reoeived, hereby promises to pay to the bearer hereof on the lOth
day of April, 19 ___ , the sum of
ONE THOUSAND DOLLARS
($1,000.00}, in lawful money of the United States of America, with
interest thereon from date hereof at the rate of five and one half
per oentnm (~} per annum, interest payable April lOth, 1925, and
semi-annually thereafter on the lOth day of Ootober and the lOth
ds_.v of April of eaoh year, principal. and interest payable upon pre-
sentation and surrender of bond or proper ooupon at the Hanover
National Bank:, New York City, New Yorlc, and the Gity of Lubboot
is hereby held and firmly bound, and its faith and oredit, and all
real and personal property in said Oity; are hereby i~revocab!y
pledged :for the prompt payment of the prinoipal of this bond and
the interest thereon at maturity.
THIS BOND is one of a series of fifteen bonds, numbered
froii\ 1 to 15, inclusive, in the denomination of One Thousand Dollars
($1,000.00) each, aggregating Fifteen Thousand Dollars {$15,000.00),
issued for the purpose of 4~ ~ ~ ~
r'~~£A ~-
L
under and by virtue of the Constitution and laws of the State of
Texas and the Charter of the City of Lubboo k:, Texas, anl 1n pursuance
of Ordina.nee No. ;}, fiV adopted by the City C'ozmniaaion of the Oi ty
of Lubbock:, Texas, on the ~ )l, day of April, 1924, and recorded
in Boolt ~ , Page /t?tj et seq., of the Minutes of said City
Commission.
IT IS HEREBY CERTIFIED AND RECITED that the issuance of
this bond, and the series of which it is a part, is duly author.ized
by law and by a vote of the qualified property taxpaying voters of
the City of Lubbock:, Texas, voting at an election held for that pur-
pose within said Oity on the 21st day of November, 1923; that all
aots, conditions and things required to be done precedent to and
in the issuance of this series of bonds, and of this bond, have been
properly done and performed and have happened in regular and due
time, form and manner as required by law; that sufficient and proper
provision for the levy and oollection of taxes has been made which
when colleQted shall be appropriated exclusivelY to the payment of
this bond, and of the series of whioh it is a part, and to the pay-
ment of the interest coupons hereto annexed as the same shall become
due; and that the total indebtedness of said City of Lubbock:, inclu&-
ing the entire aeries of bonds of whioh this is one, does not exceee
any constitutional or statutor.y limitation.
IN WITNESS WHEREOF, the crtty of Lubboo~, by its Oity
Commission, has caused its oorporate seal to be affixed hereto,
and this bond to be signed by its M$Yor, aountersigned by its City
Seoretary, and registered by its C'i ty Treasurer, and the interest
,
aoupons hereto attached to be executed by the lithographed signatures
of the M~or and the City Seoretary; the date of this band, in con-
formity with the ordinance above re~erred to, being the 1st day of
May, 1924.
) --
Mayor, Oity of Lubboo~, Texas.---
COUNTERSIGNED:
Oity Secretary, City of
Lub book:, Texas:. REGISTERED:
City Treasurer, City of Lubbook:,
Texas.
Seotion 9. The form of coupon shall be substantially
as follows: (Except Coupon No. 1 shall be for 11 mos. and 10 days'
interest.)
No. __ _ $27.50
ON THE lOTH DAY OF------' 19 ___ ,
the City of Lubbock, Texas, promises to pay to bearer at the Hanover
.Nat iona.l Bank, New Yor~ City, New York:, the sum of Twenty Seven &
50/100 Dollars C$27.50), being six months' interest on CITY OF
LUBBOCK WATERWORKS BOND, SERIES 1924, No.
1924.
_____ , dated May 1st,
--~~--------.----Mayor.
ch ty Secretary.
Section 10. The following certificate shall be printed
on the back of each bond:
OFFICE OF THE COMPTROLLER,
STATE OF' T~AS'.
I HEREBY CERTIFY ~at there is on file and of record
in mw office a oertifioate of the Attorney General of the atate of
Texas to the effect that this bond has been examined by him as re-
quired b,y law and that he finds that it has been issued in conformity
with the Constitution and l$WS of the State of Texas and the Charter
of the Oity of Lubbock:, Texas, and that it is a valid and binding
obligation upon said City of Lubbock:, Texas, and said bond has this
d~ been registered by me.
WI~{ESS MY IDUID AND SEAL OF OFFICE, at Austin, Texas,
this----day of--------' 1924.
Caaptroller of Public Aooounts
of the State of Texas.
_)
Seotion 11. IT IS FURTHER ORDIINED BY THE CITY OF
LUBBOCK, TEXAS, that while said bonds, or any of themt are outstand-
ing and unpaid, in order to provide for the payment of prinoipal of
and interest OD said bonds, there shall be, and there is hereby levied
a ta.:x: on all the ta.xa.ble property in said City of Lubboolt, Texas, suf-
ficient to produce the following amounts in the following years, ma~
ing due allowance for delinquencies and costs of collection:
YEAR. INTEREST PRINCIPAL TOTAL
1924 due 4/.10/25 -J7?9.10 ~ 10/10/25 -412.50
$300.00
$1,491.60
1925 " 4/10/.26 -$412.50 $300.00
" 10/10/26 -~412.50 $1,125.00
1926 " 4/10/27 -$412.50
10/10/27 -:jp412.50 n
$300.00
$1,125.00
1927 1f 4/.10/.26 -~412.50 $300.00
" 10/10/28 -$412.50 $1,125.00
192.8 " 4/.10/.29 -,412.50 $300\.00
" 10Z10Z2e -412.50
$300.00
$1,125.00
1929 ~ 4/lOZ3o -~412.50
" 10/10/30 -412.50 $1,125.00
1930 " 4/10/31 -¥412.50 $300.00
" 10/10/31 -412.50 $1,125.00
1931 " 4/.10/.32 -1:12.50 $300.00
n 10/10/32 -12.50 $1,125.00
1932 " 4/.10/33 -$412.50
" 10/10/33 -$412.50
$300.00
$1,125.00
1933 " 4/.10/.34 -!412.50
" 10/10/34 -' 412.50
$300.00
$1,125.00
1934 " 4/.10/.35 -$412.50 $300.00
" 10/10/35 -'p412•50 $1,125.00
1935 tt 4/10/36 -~412.50 $300.00
" 10/10/36 -~412.50 $1,125.00
1936 " 4/.10/37 -$412.50
" 10/10/37 -~412.50
$300.00
$1,125.00
1937 " 4/10/.36 -$412.50
" 10/10/38 -~412.50
$300.00
$1,125.00
]
..
YEAR INTEREST PRINCIPAL TOTAL
1938 due 4/10/39 -$412.50 $300.00
" 10/10/39 -i412.50 $1,125.00
1939 " 4/10/40 -1!12.50
,, 10/10/40 -. 12.50
$300.00
$1,125.00
1940 n 4/.10/41 -J:12.50 .300.00
n 10/10/41 -412.50 $1,125.00
1941 " 4/10/42 -1!12.50 $300.00
" 10/10/42 -412.50 $1,125.000
1942 " 4/10/.43 -~412.50 $300.00
" 10/10/43 -412.50 $1,125.00
1943 " 4/10/44 -~412.60 $300.00
" 10/10/44 -412.50 $1,125.00
1944 " 4/10/45 -1412.50 $300.00
" 10/10/45 -412.50 $1,125.00
1945 " 4/10/46 -~412.60 $300.00
tt 10/10/46 -4!2.50 $1,125.00
1946 " 4/10/47-,412.50 $300.00
" 10/10/47 -412.50 $1,125.00
1947 " 4/10/48 -,412.50 $300.00
" 10/10/48 -412.50 $1,125.00
1948 " 4/10/49 -t412.50 $300.00
" 10/10/49 -412.50 $1,125.00
1949 " 4/10/50 -1:12.50 $1,000.00
" 10/10/50 - . 85.00 $1,79'7.60
1950 " 4/10/51 -Jg85.00
" 10/10/51 -57.50
$1,000.00
$1,'142.50
1951 ft 4/10/52-~357.50
,. 10/10/52 -1:)330.00
$1,000.00
$1,687.50
1952 " 4/.10/53 -;330.00
" 10/10{53 -~302.50
$1,000.00
$1,632.50
1953 " 4/10/.54 -!302.50
" 10/10/54 -$275.00
3;1,000.00
$1,5'1'1.50
1954 " 4/.10/.56 -~275.00
" 10/10{56 -84V.50
$1,000.00
$1,522.50
1955 ,; . 4/.10/.56 -,247.50
" 10/10/56 -$220.00
$1,000.00
$1,467.50
1956 " 4/.10/57 -$220.00
" 10/10/57 -3192.50
$1,000.00
$1,412.50
195'1 " 4/10/.58 -$192.50 ~ 10/10/58 -$165.00
$1,000.00
$1,357.50
YEAR. INTEREST PRINCIPAL TOTAL
1958 due 4/10/59
" 10/10/59
-$165.00
-$137.50
$1,000.00
#1,302.50
1959 " 4/10/60 *137.50 $1,000.00
" 10/10/60 110.00 $1,247.50
196.0 " 4/l0/61
10/10/61 "
$.110.00
$ 82.60
$1,000.00
$1,192.50
1961 " 4/10/62
10/10/62 " i 82.50
55.00
$1,000.00
$1,18'7.50
l96a n 4/10/63 -$ 55.00 $1,000.00
" 10/10/63 i 27.60 $1,oea.5o
1963 " 4/10/64 $ 27.50 $1,0 00.00 $1,027.50
In order to produce the necessary amount for the payment
of prino 1 pal and interest on said bonds, there is hereby levied for
~~ year upon all taxable property in said crtty a tax of
...;.~_.;;;;;~;:z:;...;:j=------cents ( ~sf) on the One Hundred Dollars'
valuation, and annually thereafter the amount o'f tax shall be com-
puted whioh will be sufficient to produce the amount named above in
each of the years respectively, and such taxes shall be assessed and
collected and when collected shall be applied to the purpose named
and no other.
Section 12. IT IS FURTHER ORDAINED that F. R. Friend,
Maror of said a1ty, shall be authorized to ta~e and have c~arge of
all necessary records pending investigation by the Attorney General
and shall ta~e and have charge and control of the bonds herein au-
thorized pending their approval by the Attorney General and registra-
tion by the Comptroller of Publio Aco01mts.
Section 13. The fact that the City of Lubbock is in ur-
gent need of tbe waterworts extensions herein contemplated creates an
emergency and an imperative public necessity that the rule requiring
ordinances to be read on two separate days before final passage be
suspended, and such rul.e is hereby suspended, and it is ordained that
this ordinance shall take effect and b e in force immediately upon its
passage and approval.
PASSED, this the ~1
APPROVED, this the ::t Lf
day of April, 1924.
day of April, 1924.
a-~~
Mayor, City of Lubboo~, Texas.
(CITY SEAL)