HomeMy WebLinkAboutOrdinance - 287-1925 - Authorizing Waterwork Bonds - 02/01/1925OBDlB.AD'CE AU!.HOlllU!lG ISSlJADOB fa WATmrtOBKS !Ol'mS.
tHE S!Aili 01 HU8)
Olfi OJ', jjUBBQOJC)
OOUlffY OF :LUBBOCK)
On thla t1ae 1ftll '-7 .o~ h~ ... 1925. tih• Clt7 Caa-
miee'--cm O'l ttte ClQ' o~ . .£1lbboot. fezaa. aairvelld ·1D regular .._1oa-
1D1u n8'11~ meeUq plaoe,.. allMBiHt• th.-eof, to-wit:
•· a .. htent.. -
B-. W ~ lllalr.. ) -. l
·Geo.. -o •. Wolft'all'th • J
1. o.-~ Joaea~ l
)
w. s. POM7 • ) ..
fAD4 J.B. ~.
'be1Jl8 present,.. ua. 8IDOJl8 othu bqirleaa t'h118aote4. the folload.DS
ert1.DaDN we a&opte4:
"OBmllABOB llC. '} ~ '\ • All OlU)llf.Al'ICB BY fD Oift OOIDJIS•
SIOif OF !.HE Clft Oi' LUBBOCK. Dkis • .A.UTHOalZIH '1'BE ISSl1ADCI 01'
BOJDS. J'QR !!RB P.aUOlP.A.L SW OJI $!i.OOO.OO lOll !H.! PURPOSE 0? EXRID-
ING A& UIPBOTIBO TD WA1!BBWOUS SYSfll.t O'P MS ClfY; PROVIDIBG J'OR
TRE LEVY • a.;UJESSU:EB'i .AJD OCLLlDfiOlf OF A SUFFIOID! TAX TO !Al' 5E
lftERES~ AID CU.U:&!~ A StunlfG. Wlm FOR TJI,B BEDlllPnOJI OF SAil> BOBDS
Af ~Ttn.UT'J': PRJISQRI!WIG "i'D JOB OJ BOBD: ,&liD DECLAlUDG AI Emlm•
GlmOY ACOOVBT 0'8 TBB UHtEH .QEOIISSil'Y FOil SAID EX~EBSIOliS AID llt-
PliOVmE!lfS,.. ~ <'
.. CJ..S.atdODas-P0.ae7 mcw.a. that tbe oJ:611la.DOe be J)lacte4
OD 1ta tint. S'eatiJ&g; ae~ )7 C....S.aaODel" Joues. and oaftte4
b7 th 1o~s voter
YEAS: ':'--'d-icQieftl Bl.alr.. Nolftartb. Jcmea & Posey. ,
JiA~t 10118.
Oani.e&; plaeel OJ' flnt re41q.
CC'IIIId.aaJ.Oaor ,._.. m0l'e4 that the orii.IJame paaa tint
~; e,o.onAea 'b7 o·ommlaal-. Wo1f~b. alll oan1e4 b7 the
foUow1Da · ftter.
Y&lS: Ocan1a81onen BWr. trolfiuth. Jonee & Poeq.
RAYS: Bone.
Oarn~4; GNS.Uancte paaset first rea41118·
()
Oogm!ssloner Blair move4 that the rules be auspended
and that the ord1Dallc·e be ple.oed on second reading; aeoonded by Oom-
m-1sa1oner _-.Po~a-•~1---• and oarr1e4 b7 the toUowlng vote:
Y:EAS: OoliiD1&a1oners Blair, Wolffarth, Jone~ 8c Pose y.
!fAYS: lone.
Q.arr1ed; orcliname placed on •oond reading.
Commi881oner Wolffarth moved that the ordinanoe pass
second reading; seooncle4 by Gommt.aaione:tr __ Jo....,n_e_tt;__ __ • and carried
by tbG 'tollowing vote:
YEAS: Oomm1s81oaera Blair, Wolffarth, Jones & Pose,-.
llAY$: Bone.
aarrte4; ordinanoe pasae4 seoon4 reading.
Oomm1ee1oner Jonea moved tha t the ordinanoe pass
third and final readlng; B$OOnde4 by Oomml&sioner Blair • and
oarr1e4 by the following vote:
YEAS: Oomm1ss1oners .Bla1r. Wolffartb, Iones & Pos ey.
BAYS: Bone.
. ~or Friend then declared the ordtnanoe finally adopte4.
!he or41nanoe follows:
O?.DIBABOE BO• 21£L
Aif ORl>IlUliO.E BY TRE OI!Y OOIAUSSIOll OF THE Oifi
OP LUBBOOX, TEll~ • AUTI!ORIZIBG ~ ISSUA.WOB OJI
BODS FOR THE PRI.NOIPAL SUS OF 1"15 ,000.00 fOR
t'lf.E PtmPOSE OF EXTENDING AND I L!'PROVI.IG THE WA1'ER-
WORXS SYST,I§! OF THIS OITY: 'PROVlDIBG l 'OR TJ;Dt; LEVY,
ASSESSBNT AlO> OOX.LEOTIOI OF A StJP.i!'IOIENf TAX TO
PAY i'RE ID~EREST Alll) OltEAT.S A SilfKllJG FUBD FOR THE
REDBMP'l'IOJJ. OF SAID BONDS A1' ltA'lUBITY: PRESOlUBil'IG
!'HE fOiW. OF :BOltDi AND DECLARING AI ~GEIWY AOOOUNT
OJ TliE URGEU! 1J:EDES6lfi FOR SAID BXTRUSIOBS AJID 1!.1•
. Pl\OV&l.E.NTS. '
WHEREAS, at an eleot101l held in the Citv of Lubboot:,
Texas. on the 9th dq of December, 1924:. a maJority of the quali•
f1ecl voters , who are propert7 taxpayeN of the 01 ty of Lubboot,
voting at sa1d election sustained the proposition to iosue.the
bonlia hereina.fter desor1be4 for the prlnoi:pal $'Wl) of ~'15 ,000.00
-'
by a vote o:f
of 115
120 votes • anc1 whieh oanied b,y a maJority vote
1n favor thereof, being "i'or the lseuanoe of $'75,ooo.oo
Wa~erworte Bonds.n-
Tmm.EFORE, BR I! ORDAIBlm lJY '!'liE CITY OF LUBBOCK. TEX AS :
seat1on 1. !'hat the bon48 of aa14 01 ty, to be oalled
''OITY OF LUBBOOK \'ATERWOBX3 BODDS, S.ElliES 1926", be 1aaued under aDd
by virtue of the Oonat1 tut~on aDl laws of the State Qf Te%88 and the
Charter of the Olty o~ Lubboa~. Taxa•, tor the purpose of extendtng
ana improving 'he w.aterworts apt.em ·of this Ct t.v. 1D the prtnoipal
ewu of Sevent7 F1•e Wh·oussnl Dollars ($~a.ooO.QO}.
Seotl.on 2. ~at sa14 bODda &hall be D\11Dbere4 ooDSeoutl vely
from one {1) to BBTenty five ('15) .. inolusive, and shall be 1B -the
4enom1natlon of Oae Tholl8an4 :Dollare ($1.000.00) eaeh,. aggregating
the amn of Seventy Jlive Thoutmd Dollars ($'1a,ooo.oo).
Section 3. That they eball be dated ll'ebru.ary 20th, 1925,
and shall beoome clue and ptqable aer1a117 as fo~lowa:
BOllD nos. BATURl"TY DATES.
Peb%'11ary 2oth, 1926 ,
February 2oth , 192'1,
i'ebrua:ry 20th, l.92i,
l'ebruary 20th , 1929.,.
Fe bruai"J' 20th, 1950,
February 20th, 1931,
Februar,v 20th. 1932,
i'&bl"Uar.y 20th.. 1933 •
Felruary 20th, 1934,
Februar7 20th, 1956,
February 20th., 1936,
Fe braa%7 20th, 193'1,
Febru.a.r;v 20th, 1938,
Februar7 20th, 1939,
February 20th. lHO,
Februar7 2oth, lMl.,
PGbi'UL\17 20th, l9.U • .
Febru.ary 20th, 1943,
Feb1'118Z7 20th, 1944 ..
Jleb~ 2oth, 1943,
Febna.17 2oth.. 194&,
Peb%"1Jal7 20th, 194V.
Febro.ar,v 20th, 1948,
February 20th, 1949,
February 20th, 1950.
February 2oth~ 1951,
Hebruary 20th, 19o2.
1.ooo.oo
1.,000.00
1,000.00 1,ooo.oo 1,ooo.oo
2,000.00 a,ooo.oo
2,000.00
2,000.00
2,000.00
2,000.00
2,000.00
2,000.00 e,ooo.oo
2,0.00.00
2,000.00
2,000.00
2,000.00
2,000.00
2 .. ooo.oo 2,ooo.oo
2,000.00
2,000.00
2,000.00 2.ooo.oo
2,000.00
2,000.00
BOllD 1105.
60. 51,
12 & ss.
64 & 55.
66 • 6'1 t-
58 & 59,
60 & &1,
62 1: 63,
'1"4 & 65,
66 & t-7.
68 & 69.
fO & '11.
'12 & vs.
74 & '16.-
MATURITY l>ATES.
PebrlllU'7 20th. 1963,
Febna.r;v 20th. 1954,
.February 20th. 1966.
Februa:q 20th. 1956,
February 20th. 195'1,
Pebruary 20th, 1968,
l'ebnar7 20th. 1.959 •
Februar7 20th~ 1960,
l!'ebruar7 OO'h • 1961,
Febru.fU7 20th, 1962,
--:rebru.ar7 20th, 19&3.
Febru~ 20th, 1964,
!'Ctb~ 2oth, 1961,
()
A,l40l)'NTS.
2,ooo.oo
2,000.00 2.ooo.oo
2,000.00
2,000.00
2,000.00
2,000.00 2.ooo.oo z.-ooo.oo
2,000.00 2.ooo.oo
2,000.00
2,000.00
Section 4. That they &ball bear interest at the rate of
five 'PGX' oentlJfD ( ~) per aDJl\'IDl, pqabl• Fe'braary 20th, l9Ja6, and .
eGm1-annually thereafter on the 20th da; of August snd the 20th -dq
of February of eaoh 'JIC&r. . .
SeotLon 5. That the prino1pal o.nd interest of sa14 aeries
of bonds shall be PQr.Vable i.a lawi'ul mone7 of the Un1 ted States of
A..me-:rloa upon presen•atton an4 81ll'%'8n~er of bond or p:ro:per coupon at
the Ranover J'Int1onal Bant:. Bew ·Yore Oity. New Yort.
Seotlon 6. '.l!hat each of aa14 bonds shall be signed bJ'
' the Uqo.r. oounteretgae6 b7 the OJ.ty S$0~etai'J'. an4 registered ltv
, I . .
the 01ty T!'eaeurer • aDd the oor'{)Orate seal of. the 01t7 of .tub boot
' shall be impressed upon eaoh of sa14 bonds.
Seotion '1. That the faoelmUe a1pat~s of. the Uqor
an4 Oity,Secretar.v may be lithographe4 on the eoupODS attached to .
ea14. boBAs, and shall. have the aame eU.$ot aa if they b.ai b$Gil .slgnecl
e.s follows:
Ilo. __
Seotien G.. The form of ea14 bande ahall be aubetanttal]¥
Ul'flTED .S!l'A!ES OF AM DIOA
:STATE OF TEXAS
OOUBfi 0'1 LUBBOCK
$1~000 • .00
CITY OF LUBBOOK WAT ERWORKS BOJ.!ID, SERI ES 1925 ..
lOfCTll ALL IDm BY THESE FRES:E.NTS: That the 01 ty of Lubbook:,
1n the OounQ-of Lubboot., state of Texas. a nmn1o1pal oorporation
4ul.7 1noorporated under the laws of the State of i'exae • for value
reoe1•e4, he:reby promlees to pay to the bearer hereof on the 20th 4q
of February. 19 ___ • the eum of
OBE TROUSAHD DOLLARS
(0 l.,OOO.OOl. in law~ money of the UQ.ited States of Amerioa. wlth
interest thereon ft.'om date hereof' at the :rate of five per oentlJID (51&)
per aan•. 1nte,-est payable Fe'bru&J'J' 20th, 1926, ad eemi-annuall7
•hereafter on the 20th aa, of A1J81Uit and the 20th de,-of February o'f
eaoh 7ear ~ pr1no1pal ancl intere-st pa,.able upon presentation and sur-
render of bo:o4 or proper ooupon at the Hanover lfational Bank, New
Yort Olty~ le.w Yort, and the Olt7 o'f Lubboolt is hereb¥ hol4 and f1rml7
bound .... lUld its faith Ql14 credit-. a.n4 all real and personal -property
in l;l814 01 t:y • are hereby 1rreveoabl,y pledged :for the prompt paJ~~tent
of 'the prinoipal of th1a bond an4 the interest thereon. at me.turit~.
THIS BOBD ie one of a. aeries of seventy five bonds. l'.l'WD-
berod oonaeoutlnq from one (1) to aevent7 fl-ve ('5}. lnol.usive"
1D the 4enoml1J8.t1on of one fhouaan4 ltoUara ($1.000.0· ) each. agsl'e-
go.ting Sevent,' H1Ye .fhouaan4 DoUan ($'115 9 COO.OO). 1esu.e4 for the
pu pose of extendlng anil J.mprovlng the w.aterwerka B7Btem of thla
01ty. lD1der an& 1>7 virtue o~ the 0onBt1tut1on and laws of the State
of texas ani the Oharter of the tlity o"f Lubboot. 1'eu.s. and 1n pur-
suance of Ora1Danoe. Bo. }~1. • adopted b7 the Olt7 Oomm.t.se1en o~ the
01\y of Lubboot. i'ezaa. on the l.'1th da7 of Fe\nuu"y. 1926. and
reoordea. 1n Boot 3 • Page 343 . et seq •• of the lU.JlUtea ot sa14
01 t7 O~aa1on.
IT I S liER'EBY OER!riFIED .1\liD RECITED tbat the issuanoe of
this bond. and the eortea of 1rhi13h 1 t is a part. 1e dul.7 authorize&
by law and by e. vote of the ql&Bllf1e4. properly taxpaying voters of
the 01t7 of Lttb~t. Texas, voting a t an eleot1ou held for tha t
-purpose wttbln said Oity on \he 9th day of December. 1924; that all
actta. oon41t1ons and th1ng8 required to be 4one preo~dent to a nd in
the lssuanoe of this series o~ bonds. and of this bond. ha'Ve been
l
proper}7 done and performed ani have happened in regular &lld due tlme •
form 8114 mtmaer as required b7 1811; that str£fic1ent. and proper pro•
vta1on for the lev.v 8D4 oolleotlan ot taxes has been made wbioh when
ool1eete4 shall be approprJ.•ted exolue1"vel7 to the pa,ment of this
bond. and of the a&riea of wb1oh it .ls a part. an4 to the paJment of
the interest ooupons hereto annexed as the same shall beoome due;
and that the total 1n4ebtelnesa o~ ea14 01 ty of Lubbeet, ino1ud1Dg
the eut.lre series of bonds of whloh this ia one. Aoee not exoee4 aQF
oonst1tut1onal or atatutor.y llmltation.
llf ···;Il'NESS \1 HEREOP 1 t.be City of Lubboot. by 1 ts City <1om-
m1ss1oa. has o·aUN4 lts eorporata seal to bo affixed hereto. and this
bon« to be signed ·· lte Mayo:r. eounteJ"B18Jle4 by 1 ta Oity seoretary •
and registered ~ ita City Treaaurer, and tbe interest ooupona hereto
attached to be excouted b,r the lithographed signatures of the ll QTo~
rmd the 01v Seoretar,-; the elate of this bOD4, 1n oonfarm1ty with the
ord1nanoe above referred to. being the 20th 4ay of Pebrua%'7, 1925.
OOtmiEB3IOIJBD:
dity seoretar.y. Olty-or-
Lubboo·t., Texas.
Dqor • dity of Liili&iot. Texas.
REGISTERED1
city-i'reaaeer, ol fi ol tub'bOoi,
Texas.
Seotion 9. The ~orm of ooupon shall be eubatant1al17
ae followa. e:mept OoapO!l Do. 1 shall be for one year's lnte.rest.
Ifo. __ $25.00
OB THE 20TH DAY OF -----•· 19 __ .•
~· Oit7 of Lubboot, Texas. promisee to pa.y to bearer s.t tho Hanover
Bstion.al BaDt, Bow Yort City, Jew Yort., the sum of Twenty Five Dol-
lars ($85.00) • bei.Jlg 81lt mmths' int-erest on OI!l'Y OF LtJBBOOK WATER-
bli; Seorotary.
Seot1on 10. The fo1lowtng oert1f1oate shall be prtnte4
on the baot of each bond:
ORIOE OF THE OOliPTROLLER •
STATE OF TEXAS. .
)
I REREBY OERfiFY that there is on file and of reoard in
rq o:fftoe a oert1f1oate of the Attorney General-of the State of Texas
to the effect that thla boru1 has been exemine4 by h1m aa required by
law and that he ~1nds that 1t bas been 1saue4 1D oon:tormlty with the
Oonst1 tution e.nd lawa of the State of Texas and the Ohart&r of the
City o-r Lubboot. Texas . and that lt 1a a wl14 and b1ncl1ng obligation
upon sald City of Lubboot . Texas. and said bond has thi~ da7 bean
registered ~ me.
WITHE3S BY HABD ADD SEA L OF OFFICE. at Austin •. Te%as •
this ___ day of _____ ___._, 1925.
Comptroller of Publlo Acoounts
of the State of Texas.
Seot1on 11. IT IS FURTHER Olm.UBED BY TRE OITY Oil
LUBBOOK. TEXAS. that while aaid bonds. or all¥ of them. are outstand-
ing and unpa14 . 1n order to proVide for the pqment of p:rinoipal o~
and interest on aaid bODds . there shall be • and there is hereby
levied a tax on all' the taxable property in said Oity of Lubboot.
Texas. sllff1o1ent to prodmle the following amounto 1n the follOWing
'
years , making due al.lova.noe for del1nqueno1es and ooste ot oolleotion:
YEAR. IBTER~~. PRINCIPAL. ~
1926 4tte 2/.20/.26 • ,3.750.00
a S/20/26 • 1 .~50.00 $1 ,500.00
~~.100.00
1926 ,, 2/.20/.27 -~1 ~850.00 $1 .500.00
n 8/20/2'1 -1 ,825.00 i 5.1'15.00
192'1 ,, 2/.20/.28 -,1 ,825~00 t~.soo.oo
" 8/20/26 -.1 ,800.00 .,;5,125.00
1928 " 2/20/.29 -g l ,SOO.OO 'l!ll,600.00
" 8/20/29 -1.'175.00 :$5 ,0'76 .00
192.9 tY 2/.20/30 -i l ,7'15 .00 $1 ,500.00
tJ 8/20/30 -l .'150.0Q t 5,025.00
1930 n 2/.20/31 -,1.'150.00 t 2,000.00
" 8/20/31 -1 ,700.00 v 6 .450.CO
'• 0 -
YEAn . ' ~TEllES~. PRI!fCtP.AL. TOTAL.
1.931 due 2[20/.32 -,1, '100.00
,. 8/20"/32 ... 1,660.00
$2,000.00
$5,350.()0
1932 " &/2JJ/.S3 -,1,650. 00 $2 ,.000.00
"· 8/20/35 -1,600.00 $5,250.00
1933 tt 2/.20/.54 -,1,600.00 $2 .. 000.00
11 8/20/34 -1,650.00 ~5,160.00
1934 n 2/PJ:)/.35 -!1.650.00 $2,000.00
" 6/20/36 • fi l,~OO.QO $6,0&0.00
1935 " 2/20/.36 -*1.500 .. 00 t e .. ooo.oo
" 8/20/36 -1,460.00 t-4,950.00
1936 n 2/.20/.3"1 -ft·450.00 $2,000.00
tt 8/20/3V • 1,400.00 $4 ,850.00
19S'I " 2/20/.39 .... ,1,400.00 $2.,000.00
n 6/20/36 -1,zso.oo $4 ,v5o.oo
1938 n 2/.00/.39 -$1,360.00 $2 ,,000.00
n 8/20/39 --$1 .. 800.00 ' $4.-650.00
1939 " 2/.20/.40 -*1,300.00 $2 ,000.00
" 8/20/40 -1,860.00 $4 ,550.00
1940 t1 2/PJ/.41 -,l.,260.00 $2 ,000 .. 00
'ft' 8/20/41 -~.2oo.oo $4,450.00
1941 " 2/.20/.42 ·-,1,800.00 t 2,000.00
" S/20/42 • 1,150.00 $4,350.00
1942 ' " 2/.S0/.43 -*1,150.00 $2 ,-000.00
tt 8/20/43 -1,100.00 ~.260.00
1943 .. 2/.20/.44: -,1,100.00 $2,000.00
" S/20/44 -1.050.00 t 4,15o.oo
1944 A 2/.20/.45 -,1,060.00 e2,ooo .. oo
" 8/20/46 -1,000.00 $4,ovo.oo
1945 .. 2/.20/46 -*1.000.00 $2 ,000.00
" 8/2.0/46 -· . 950.00 0 3,'950.00
1946 " 2/WJ/47 -i 950 .• 00 $2,000.00
" 8/20/4"1 -goo.oo $3,650.00
194'1 1f
2/.20/48 -* 900.00 $2 ,000.00
tf ti/20/48-850.00 $3.'150.00
1948 .. 2/.2.0/.49 -l 650.00 ea.ooo.oo
J'l 8'/20/.49 - .
800.00 $3,650.00
1949 n 2/20/.60 -~ aoo.oo $2,000.00
" 6/20'/50 ·-'150.00 $3.560.00
1950 tf 2/.00/.51 -i '750.00 $2,000.00
1t 8/20/51 .. 700.00 $3,450.00
_J
Q
YEAR . IBTpES!'.. PRil'lO IPAL. TOTA L.
1951 due 2/.20£52 -l 'loo.oo
• 8/20/62 -. 660.00
$2.000.00
$3,350.00 ..
1962 " 2/Pil/IJ3 -~660.00 $2,000.00
" S/20/53 -&oo •. oo 15,260.00
1953 " 2/.20/.M -g6oo.,oo $2,.000.00
" 8/20/M -650 .. 00 t 3,l50.00
1964 t't 2/.20/.6FJ -!650.90 $2,000.00
" 6/20/65 -500.0() ~3,050.00
1965 (J 2/.20/.66 -~500. 00 0 2,000.00
n 8/20/56 -60.00 $2,960.00
1966 ., a/zo/.5'1 -3:oo.oo t a.ooo.oo
" afr.o{&'l -. •oo •. oo $2,850.00
196'7 1f E/.20/os -~o.oo 3 2.000 .. 00
" 8/20"/58 -350.00 t 2,'150.00
1968 tt 2/20/.69 -8 36&.00 $2,000.00 ., 8l20/6t -300.00 $2,650.00
1969 " 2/20/.60 -t 300.00 w2,COO.OO
" 8/20/60 -250.00 0 2,560.00
1960 9f 2/.20/.&1 -$260.00 $2,000.0 0
" 2/20/61 -200.00 $2,460.00 .
1961 " 2/.20/.62 -s aoo.oo-~2 ,000.00
n S/20/62 -160.00 $2,360.00
1962 " 2/00/.63 -1100. 00 $2,000.00
" 8l20/63 -100.00 $2,250.00
1963 " ~/.&0/64 • g 100.00 t a.ooo.oo
n 8/2Q/64 -50.00 $2,150.00
19M n 2/20/65 -0 50. 00 $2.,000.00 t 2,050.00
In or4er to produc)e the neoeaaar7 amount for the pa,ment
of pr1no-1pal an4 1a.t81"eat on aal4 bonds. there 1a bereb7 lev1e4 tor
the ou.rrent year upon all taxable property tn sald Oity a tax .,f an4
at the rate of six and one half oenta ( 6i ¢) on the One
B.Un4re4 Dollars ' val'Wlt1on., aJ'Ii aJD'1Ual}7 thereafter the amount of
tax shnl.l be oomputed. whioh will be a~fioient to produe the amOlDlt
named abov-e 1D eaoh of the years res)'eotiveq. and S'QOh taxes shall
be asaasaed and colleoted and wben oolleote4 shall be applied to the
purpose .named cmd no other.