Loading...
HomeMy WebLinkAboutOrdinance - 446-1929 - Bond $60,000 Sewer Extensions - 06/27/1929f ;- I '• t "'·L_ _,,I, OP.DINANC.l: AUTHO:U3ING ISSU.'..N~ OF ~60 1 000.00 s:;,{.'.:?:1 .:..:z:T:::;:tJSION :B r !IJ'DS. , THE S·:r A ,_r.:.., 01!1 T.::::-:AS ) ) *,J· b CITY OF LUBBOCK ) ) COUNTY OF LUBBOCK) On this the 27th day of June, A~D. 1 0 29, the City Commission OI the City of Lubbock, Texas, convened in regular session in the City Hall, in the City oI Lubbock, Texas, all members thereof, to-wit: H,D. ',v'oods, Mayor, A. V. 7feave.r, ) J.F. Bacon, ) J .H • Hankins, ) D,U. Leaverton, ) Commissioners. and W.R. Rodge.rs, City Secretary, being present, and, among other business transacted, the following ordinance was passed: ".AN 0::1DIJiI.A.lWE BY THE CITY COMMISSIO N OF THE CITY OF LUBBOCK, TEXAS, AUTHORIZING ~H~ ISSUANC E OF B01ID3 J?OB ".!!H Z PRINCIPAL SUM OF $60,000 • 00 , FOR TH:3 .:-URPO SE OF T HZ CO:tJS·T RUCT IO 1; OF S]iBR EX·TE:tf SIOJ.lf;S IN AND FOR SAID CITY: J?~OVIDEifG 1!1 03 TH:J 1Z VY, ASSE S 3M3NT L.ND COLLECr.rION OF A SUF.1!1ICIENT TAX 1r o PAY TH E INT.i!li:lES T ON SAID BONDS AND TO CR.:ATZ A SINKING FUND TO R..iD:B.1 ~'HJl[ AT MATURITY: P R~~SC?.IBING ·THZ FORM OF BOND: AND DECL.ABING AN ~GRG3NCY ON ACCOUNT OF '.i:H~ URGcljT N3:GESSITY OF S3WDR EXT ~NSIONS." on its by tbe C~mmissioner Leaverton moved that the ordinance be placed first .reading; seconded by Commissfone.r Hankins, and carried fo 11 owing vote: Y.EAS: Mayor ,ioods, Commissione:ra Hankins, Jea vet, Bae on and Leavet'ton. NAYS: None. Car.ried; ordinance placed on first :reading. Commissioner Bacon move d that the ordinance pass first :reading; seconded by Commissioner 1,{eave.r, and ca.r.ried by tbe following vote: YEAS: Mayor li'oo d s, Commission er s Han kins, ,leaver, Eacon and Leaverton. NAYS: None. Carried; ordinance passed first reading. - C rnmissioner Hankins moved that the rules be suspended and that the or8inance be plac~d on second reading b~ caption; seconded by Coamissione:r Bacon, and aar.ried by the following vote: YEAS: Ma yor Woods• Corrmissi one.rs Hankins, We a ver, Bacon and Leaverton; NAYS: None. Carried; otdinanae placed on sec ond re a ding by caption. u C mmissione.r 7feave.r moved that the ordinance pass second reading; se0onded by Commissioner Bacon, and carried by the following vote: and Le a verton. YEAS: Ma yor ·,foods, Commissio tJ ers Hankins, Weaver, Bacon NAYS: None. Carried; ordinance passed second reading. • Commissionet' Leaverton moved that the ordinance be placed on third and final reading by caption; second.ad by Commissioner Heaver, anaca.rried. by the following vote: r4s: Mayor ,foods. Commi ssione.rs Hankins. 7feaver. Bacon and Leaverton. NAYS: None, Carried; the ordinance was again read b y caption. Commissioner Leaverton moved tbat the ordinance pass third a nd final reading; seconded by Commissioner Bacon, and carried by the fallowing vote: Y.:JAS': trayor Woods I Commissioners Hankins, Weaver, Bacon and Leaverton. NAYS: None. Mayor .r oods then declared the ordinance finally passed. ~he ordinance follows: 0m)INANC 3 NO.~ AN ORDINANCE BY THE CITY COMMIS SIO N OF THE CITY OF LUBBOCK, TEXAS I AUTHORIZING THE rs·SUANO:ill OF BONDS FOR THE PRINCIPAL SUM OF $60,0oo.oo. J!"IOR TH~ PURPOSE OF TH:E CONSTRUCTION OF SEWER EXTENSIOHS IN ~Urn FOR SAID CITY: FROVIDING FOR 1r!IE :r.~tVY. ASS.i!.SSME NT ANJ) COLLECTION OF A SUFFICIENT TA..~ TO PAY THE INTE?.3ST ON SAID BONDS AUD TO CREATi A SINKING FUND TO RED?.:311 THS/1 AT MATURITY: PRESCRIBING TH;:; tORM OF BONI>: AND DECL.ARIUG AN tThfERGENCY ON AOCOUUT 03' THE URG2NT NECESSITY OF S371~ :EXTENSI ONS. \VH3BEAS, at an election held in the City of Lubbock~ Texas, on the 24th day of September, A.D. 1928 1 a majority of tbe qualified voters, who are property taxpayers of the City of Lubbock, voting at said electioo·sustained the proposition to issue the bonds of said City in tbe p~incipal sam of ~85,000.00 for the purpose of the construction of sewer extensions io and for said City, by a vote of 433 affirmative votes, and whiah carried by a majority vote of 413 in favor thereof• being ''FOR r HE ISSUAMOE OF BONDS IN TH2 SUM OF ;ss.000.00 FOR THE .t'URPOSE OF ]!HE CONSTRUCTION OF SEWER EXTENSIONS, AND THE LEVY OF A TA.c1: IN PAYM3NT TH~REOF''; and, WH~"R~S. it appears affirmatively to the City Commission that said election was regularly ordered, that notioe thereof was regularly given for tne time and in the manner as p rovided by law, and that said election was regularly held and that only property taxpaying vote.rs voted at said election SJ d that the .r etu.rns there of were regularly made to the Commission and that said returns have been duly canvassed and the result of said election regularly declared in all respects as pi-ovided by law and that it has been found and declared that the proposition for the issuance of said bonds was carried and su ~tained by a majority vote of the property taxpaying voters voting thereon, and that, therefo~e, this Commissioa is authorized to issue said bonds and to levy a tax in payment thereof and cause the same to be assessed and collected; and. WHEREAS, on 31st day of January, A.D. 1929, the City Commission issued $25,000.00 of said total of ~85,000.00 of bonds, leaving a balance of $60,000.00 of bonds authorized to be issued for the purpose· of the construction of sewer extensions. NOW, THER.3FORE, BE IT ORDAIN:3:D BY TH E CITY OF LUBBOCK, TEXAS: Sec.tion l. · That the bonds of said City, to be called 11 0ity O.li! LUBBOCK SEw:iilR EXTENSION BONDS, SE:!:tIES B OF 1929", be issued undet' and by virtue of the Special Charter of the said City, adopted December 27th, 1917, by vote of the qualified voters of said City, e:i d amendments there to, and the Cons ti tu tion and laws of the State of Texas, for the purpose of the construction of sewer extensions in and for said City, in the principal sum of Sixty Thousand Dollars ($60,000.00). Section 2. That said bonds shall be numbered oonsecutively from one ( 1) to sixty (60), inclusive. and shall be in the denominaticm ~ of One Thousand Dollars: ($1,000.00) each. aggregating the sum of Sixty Thousand Dollars ($60 ,ooo .oo). Section 3. . ,. That they shall be dated August 1, 1929, and shall become due aod payable serially as follows: :BOND NUMBERS. .. MATURITY DATES. .AMOUNTS • l February 1, 1932 $1 • ooo. 00 2 "· February 1, 1933 :}l, 000. 00 3 February l, 1934 ;1,000.00 4 February 1, 1935 f ,000,00 5 February 1, 1936 ,,000.00 6 Feb.raa.ry l, 1937 lilOOOC-00 0,' 7 Februa.ry 1, 19:38 · 1,000~.0U 8 1!,ebrua.ry 1, 1939 11,000.oo g · F eb.ruary l, 1940 i 1,009.oo 10 February 1, 1941 ,;pl, 000. 00 ll I:!-ie b.rua .ry l , 1942 1 1,000.00 12 17 eb.ruary l, 1943 i'.?l ,000.00 13 2'eb.ruary 1. 1944 $1,000.00 14 February l. 1945· f l, 000.00 15 February 1, 1946 f l,000.00 16 li1 ebruary l, 1947 i l,000~00 17 and 18 February l, 1948 g2,ooo.oo 19 and 20 ~eb.ruary l, 1949 !2.000.00 21 and 22 February l, 1950 ,, 2 .000.00 23 ana: 24 February 1, 1951 ~2,000.00 25 and 26 11eb.ruary l, 1952 $2,000.00 27 and 28 February 1, 1953 ,}2,000.00 29 and 30 Feb.rua.ry 1, 1954 ·i2 ,000.00 31 and 32 February 1, 1955 Q2,ooo.oo : ) ' " BOND NTJMBEBS. MATU]I'PY DAT3S. .AMOUNTS. 33 and 34 Feb.rua.ry 1, 1956 ~2.000.00 35 and 36 February l, 1957 1,2, ooo. 00 37 and. 38 February l I 1958 i 2.ooo.oo 39 and 40 F ebruary l, 1959 , 2,000.00 41 and 42 February 1. 1960 . .;2,000.00 43 and 44 Peb.ruary 1 I 1961 .,3 2,000.00 45 and 46 F eb:Cub.ry 1, 1962 0 2,000.00 47 and 48 February 1, 1963 Q2,000.00 49 and 50 February l, 1964 2 2,000.00 51 and 52 February l, 1965 .~2 .000 • 00 53 and 54 February l, 1966 ,}2 ,000 .oo 55 and 56 February l, 1967 ~2,000.00 57 and 58 February l, 1968 ,}2 ,000.00 59 and 60 i!1 ebruary 1 I 1969 1p2,000.00 Section 4. That they shall bear interest at the rate of' .five pe:r centum ( 5%) per annum, payable semi-annually on the 1st day of February and the 1st day of August of each year. Section 5. That the principal and interest of said series of oonds shall be payable on presentation and surrender of bond or proper coupon at the National Bank of Commerce. New York City, New York. Sec ti on 6. That each of said bonds shall be signed by tba Mayor, countersigned. by the City Secreta.ry. and registered by the City Treasurer, and the corporate seal of the City of Lubbock sha 11 be impressed upon each of said b onda. Section 7, That the facsimile signatures of the llayor and City Secretary may be lith,ographed on the coupons attached to said bonds, and shall have the same effect as if they had been signed by them. Section 8. as follows: No. The form of said bonds shall be substantially UNITED STAT S :'3 OF AJC:<EIOA STAT3 OF TEXAS COUNTY OF LUBBOCK CITY OF LUB BOCK Sir:{ER E XTENSION BOND, SEP.TES B OF 1929. $1,000.00 KNOW ·ALL MEN BY THES3 PR3S:JNT'3: That the City of Lubbock, a municipal corp oration duly incorporated Jndet' the laws of the State ; of Texas, for value received. acknowledges itself indebted to and here- . by pt:omises to pay to bearer on the lat day of li1 ebruary 1 19_, the principal sum of ON.3 THO DSAU]) DOLLARS ../ --- / ($1,000.00}, in lawful money of the United States of Ame:cica, 1,'lli:th interest thereon from date hereof at the rate of five per centum (5%) per annum, interest payable semi-annually on tne 1st day of Februa ry and the 1st day of August of each year; prinaipal and interest payable upon presentation and surrender of bond or proper oouponr at the National Bank of Commerce, New York City, New York, and the City of Lubbock is hereby held and firmly bound, and its faith and ar~dit, and all real and personal property in said City, are hereby irrevocably pledged for tbe prompt payment of the principal of this bond and the interest thereon at maturity. THIS BOND is one of a series of sixty (60) bonds, numbered consecutively from one ( l) to sixty (60), inclusive, of the Qenomination of One Thousand Dollars ($1,000.00) each. aggregating Sixty Thousand Dollars ($60,000.00), issued for the purpose of the . o onst.ruct ion of sewer extensions in and for said O i ty, under and by virtue of tbe Cons ti tu ti on and laws of the State of Texas, and the Ctty Charter of the City of Lubbock, Texas. and in pursuance of an ordinance duly and le gal ly adopted by the City Commission of said City and of .record in the Minutes of said City Commission. THE DAT E of this bond, in conformity with the ordinance above mentio·ned, is August l, 192'?. AND IT IS ITT!.'REBY CER TIFIED AND RECITED that the issuance of this bond, and the aeries of which it is a part, is duly authorized by law and by a vote of the qualified p~operty taxpaying vote~s of the City of Lubbock, Texas, voting at an election held for that purpose in said City on the 24th day of S eptember, A.D. 1928; that all acts. conditrons and things required to be done precedent to and in th e ~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 requi~ed by law; that sufficient and proper provision for the levy and collection of taxes has been made which when collected shall be appropriated exclusively to the payment of this bond and of the series of which it is a part, and to the payment of the interest coupons hereto annexed as the same shall became due; and that the total indebtedness of the said City of Lubb'ock, inc ludLng the entire se~ies of bonds of which this is one. does not exceed any --- constitutional or statutory limitation. IN WITNESS WHEREOF, tbe City of Lubbock, by its City Commission. has caused its corporate seal to be hereto affixed, and this bond· to be s.igned by its Mayor, countersigned by its City Seoretary, and registered by its City Treasurer, and the interest coupons hereto attached to be executed by the lithographed facsimile sig- natures of tbe Mayor and City Secretary, as of the lat day of August. A. D. 1929. COUNT3BSIGNEJJ: City secrei ary, City of Lubbock, fexas. Mayor, Ci t y of Lubbock~ Texas. R2lGIST3RED: City Treasurer, City of Lubbock, Texas. the form of coupon attached to said bonds shall be substantially as follows: NO. ___ _ $25.00 ON THE lat 1'AY OF _____ , 19 __ • the City of Lubbock, Texas. v&l pay to bearer at the National Bank of Commerce, New York City, New York, the sum of Twenty Five Dollars ($25.oo). in lawful money of the United States o~ .America, being six months' interest due that day on CITY OF LUBBOCK SE'.V.CR EXTE}TSION BOND, SERIES B OF 1929, NO. _____ , dated August l, 1929. Jilayor. di ty Secretary. The following aertificate shall be printed on the back of each of said bonds: OFFICE OF COMPTROLLffi) ) S~ATE OW TEXAS ) I HEP3BY CERTIFY that tbere is on file and of record in my office a certificate of the Atto~ney General of the State of Texas to the effect that this bond has been examined by him as required by law, and that he finds that it bas been isau ed in conformity with the o ons ti tu tion and laws of the State of Texas and the City Charter of the City of Lubbock, Texas, and that it is a valid and binding obligation upon said City of Lubbock, 'l'exas, and said bond bas this day been registe.red by me. this the .,, I ~ I WITN3SS MY HAND AND S3AL OF O.FFIOE , at Austin, Tex&s, _____ day of ----------' A.D. 1929 . Section 10. cgmptroller of Public Accounts of the State of Texas. IT IS FURTHZ R ORDAINED BY THE CITY OF LUBB OCK, TEXAS, that to pay the interest on said bonds and create a sinking fund with which to pey the principal as it matures, there shall be and it is hereby ordained that there be levied, assessed and collected in due time, form and manner and at the same time other taxes are levied, asseas~d and co 11 ec ted in each year in said City. a suffi oient tax upon a 11 the taxable property in a.aid Cl ty of Lubbock to pay the cur.rent 1nteres t on said bonds and to pey the principal thereof as the same matures; and to pay the interest on said bonds and to create a sinking fund to pay the prinaipel as it matures, there is hereby levied a tax of two anu.one-half (2½) ce~ts on the $100.00 valuation of all taxable property in said City for the year 1929 and for eacb succeeding year while said bonds, o~ any of them, are outstanding, and same shall be assessed and collected, or so much thereof as may be necessary for said purpose, and applied to the purpose named. SEation 11. IT IS .il1ITRTHEB ORDAilfE]) that the Mayor of said City of LutiHock, be and he is hereby autbo~ized to take and have charge o:f all necessary records pending investigation by the Attorney General and shall take and have charge and control of the bonds herein authorized pending their approval by the Attorney GSileral and ~egistration by the Comptroller of Public Accounts. Sec ti on 12. Tbe fact that the City of Lubbock, Texas. is in urgent need of sewer extensions in order to serve the best interest, health and welfare of its citizens, creates an emergency and an imperative pub lie necessity that the rule requiring ordinano es to be .read at more than one meeting of the City Commission before final passage be suspended. and it is ordained tba t this o.rdi nanc e sba 11 take effect and be in fore e immediately upon its passage and approval. I n-rm .. r c,mA T \ PASSED, this the 27th day of June. A.E. 1929. APrROV31J, this the 27th day of· June,~~ H.D. Vl~ods Mayor, City of Lub oak, Texas. c- .. ' d r ,T!fs STATE OF TEXAS) ) CITY OF LUBBOCK) ) COUNTY OF LUBBOCK) ORDINANCE NO. 447 ORDIIiANC3 AUTHORIZING ISSUAN03 OF $75 1 000.00 AIRPO:ctT BONDS ✓ On this the 27th day of June. A.D. 1929, the City Commission of the City of Lubbock, Texas, convened in regular session in the City Hall, in the City of Lubbock, Texas, all members thereof, to-wit: H .D. Woods, l!ayor, A. V. 1/eaver, ) J.F. bacon, ) J .H. Hankins, } D.~~ • Leaverton,) Commissioners 1 and :1 .H. Rodgers, City Secret&.ry, being present, and, among other business transacted, the following ord inane e was pas sad: "Alf ORDIIITJi .. NCE BY 11HE CITY COMMI SSION OF 1r H3 CITY OF LUBBOCK TEXAS I AUTHORIZING THE ISSUANCE OF BONDS FOri 11:HE PRINCI P AL SUM OF ·$ 75,000 • 00 FOR TH.E PURPOSE OF ERE CT Ilf G, MAINTAINING AND OPERATING A PUBLIC UTILITY I TO-vITT: BY ACQUIR lliG LAND WI THIIIJ OR ·,llTHOUT 1fHE GP.PY . AND Effi: CTI NG , EST.A.BLISH IlTG , Il'IAilfTAINIIf G AND OPElZA TI UG THEREON A MUNICIPAL AffiPOHT AND LANDING FIB!LD IN 001iNECTION W[ TH Tlli!T OP:il:RATIOU OF EXPRESS, FREIGHT, AIR:MAIL SERVICE AND OTICB A~JIAL T3ANSPORTATION: PROVIDING POR TH3 L3VY, ASSE SSM.SNT AN:D COLL.c;CTION OF A SUFFICIJ:NT TAX TO PAY THE INT.I!;REST ON SAID BOUD3 Al\"D TO CRZAT~ A SINI:'.:Il!G FIDID TO RETIEEM THEM AT MATURITY: DE SCRIBING TH E FORM OP BOND: ANil IJ3CLAP.ING AN .EM~ G2'NOY. '' Commissionei-·.1eaver moved that the ordinance be placed on its :first :-eadine-; seconded by Commissioner Bacon, and carried by-the following vote: Y.3AS: Mayo.r 7/o ods, Commissioners ·,leaver, Bacon, Hankins and Leaverton. NAYS: N0 ne. Oa:rried; ordinance placed on first reading. Commissioner Hankins move§ that the ordinance pass first reading; seconded by Commissioner Leaverton, and carried by the Iollow- ing vote: YEAS: Mayor Woods, Commissioners ,eaver, Hankins, Bacon and Leaverton. NAYS: N ne. Carried; o~dinance passed fiFst rea ding. . Commissioner Bacon moved that the rules be suspended and that the ordinance be placed on second reading by caption; seconded by Commissioner Hankins, a.nd carried by tbe following vote: YEAS: Mc..yo.r Hoods, Commissioners ileaver, Rankins, Leaverton and Bacon. NAYS: None. Carried; qrdinance placed on second reading by caption. Comm.issione.r 7'feaver moved that the ordinance Piss eecand reading; seconded by Commissioner Bae on• and carried by the fol lowing vote: /'