HomeMy WebLinkAboutOrdinance - 304-1925 - Submitting The Question To Legally Qualified Property Taxpaying Voters - 05/28/1925_i "
CIRDi r .dCE NO. 304.
AB ORDIXABCE StJBIIITTiliiG THE Qt:BSTIOlf '1'0 THE LEGALLY QUALIFIED PRO.PERfi
TAXPAYING VOTERS OF TH.lS CITY IF BONDS aF THIS CITY' IN THE AlOtmT OF
$50.000.00 BEARING IBTEREST PAYABLE SEJII-ADUALLY 1(1' THE RAtE NOT
GREATB:R THAN SIX PER CEB'rt PAYA IE SERIALLY WIMIN FORTY YEARS lROJI
DATE OF ISSUANCE, SHALL BE lS SUED FOR THE PURPOSE OF PAVING, DRAINIEO
AND PERllAEENTLY IMPROVING THE STREETS AND AVE:mJES OF THE CITY OF
LUBBOCK SHALL BE ISSUED• lEVYING A TAX FOR THE PURPOSE O'F PAYING THE
INTEREST ·AND CREATI NG A SIHKING FUND TO RETIRE SUCH BONDS; FIXING
THE Tm ~ AND PLACE OF HOLDING SUCH EIBCTI01 Aim THE FORII OF THE BALLOTJ
APPOI TING THE OFFICERS TO HOLD THE SA!EJ SETTING OUT THE JLUmER OF
NOTIC . THEREOF, AND DE CLARING AN EMERGENCY • ACCOUNT OF SERIOUS NEED
OF PERMANENT SURFACING OF T HE CITY HIGHWAYS AND DANGER AND INCONV&N!p
IENCE FROM FLOOD WATERS 1
BE IT ORDAINED BY THE CITY CO!D!ISSION OF THE CITY OF LUBBOCK, TEXASs
SECTI ON 1. An. election within this ~ity to be held at the City Ball
in this City on the 2nd day o'! .Tuly a t the regular home, is hereby
called whereat the lega lly Q ualified prop erty taxpaying voters
o~ this City may determine if bonds of t h is City as hereinafter set out,
and for purposes there namedt shall be issued by the City.
SECTION 2. The purpose for this election is oalled to determine if bands
of this City in the anount of $50,ooo.oo be :1 ring interest payable semi-
annually, at a rate not greater than 6 per cent, which mature over a
period not greater than forty years in denominati~ns of one thousand
dollars, for the purpose of paving draining and permanently improving
t he streets and avenues of this City, and for the levy on all property
subJect to taxation of sufficient rate to pay the intere st on such
bonds and to retire them a$ they may m~ture.
SECTION 3. Those desiring to vote in favor of the issuance of such bo6ds
aha 1 have written or printed on thier ballots, •For the issuance of '5o,ooo.oo of Street lmprovements Bonds, and the levy of a tax to pay
the interest thereon, and create a sinking fund to retire such as they
ma ture•, and thoae opposed to the issuance of such bonds shall have wrA-
ten or printed on their ballots •Against the ~suance of ~50,000.00
of Street Improvement ~onds~ and the levy o~ a tax to p ~y the interest
thereon, a nd to create a sinking fund to reitre such as they mture ani
if a majority of such voters declare in ~avor of this issuance of
such bonds, they shall be issued as set out. the taxes ~vied as stated.
Section 4. The following are na med as Judges, w.s.Clark and H.D.
Woods, to hold such election• and they shall make such return thereof
as is required by law.
Section 5. A certified copy of this Ordinance published in a news-
paper• published in this city, and a certified copy of t h is Ordinance
posted in three public places within this city. such p ublica tion and
posting being for thirty days prhr t o such election, sh ~ll be suffici-
ent notice thereof.
Section 6. The ~act that the highways in t h is city a re in such con-
dition ~o.m lack of drainage and permanent surfacing a s to render
trav~l difficult and the g~eat need of remedying such condition•
creates an emergency and public necessity tha t the rule of the
Charter req uiring Ordinance s to 1b~ read a t ~seve ra l meetin gs
before passage ~hould be, and the.eame ia suspended, and this
Ordinance finally passed at the meeting of its introduction by unan-
tmous vote. and it is so ordered.
PASSED AND APPROVED this the 28th day of ll'q, 1925.
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