HomeMy WebLinkAboutOrdinance - 598-1938 - Issuance Of City Of Lubbock Light Plant Revenue Warrants - 10/13/1938·-·--·-ORDINANCE NO. 598 lO-l'3-\Sa.e AUTHORIZING THE ISSJANCE OF CrrY OF LUBBOCX LIGm' PLANT REVENUE WARRANl'S IN THE .Al40UN'l'J)OJ $133,652. 00, BEARING -WEREST, PLEDGING THE R~ENUES OF SAID ELECTRIC LIGHT AND POWER SYSTEM 'ID 'lHE PAYUENT OF THE PRINCIPAL AND INTEREST OF S."-ID WARRAN'l'S, AND DECLAR nro AN EMERGENCY. WHEREAS, heretofore on \June 24, H~37, the U1 ty Commission ot the City ot Lubbock adopted a resolution authorizing the publication ot notioe to bidders tor the purchase ar a certain engine and equipment to be used in oonneotion with the municipal eleotrio light and power plant of said City which resolution and the minutes pertaining thereto are duly reoorded in the minutes ot the City Commission in Book 5 at page 316; and \'THEREAS, pursuant to said resolution said notice to bidders was . duly published in aooordanoe with law; and WHEREAS, pursuant 'to said notice the CitY Commission did on July 12, 1g37, receive bids tor said engine and equipment, the bi4ders being: and Nordberg Manuf'acturing Company • Milwaukee, ~g1scons1n Busoh-Sulzer Brothers Diesel Engine. Company, bt. Louis, Mo.; WHEREAS, after reoeivi ~ said bids and af'ter hearing a d1aouse1on ot said bids by the representatives ot said bidders the Coomiss1on did accept the bl4 ot thtt Nordberg Manufacturing Company ot Uilwaukee, Wisconsin tor said ensine and equi}Elent and at said meeting did authorize the Mayor to makB a contract with said Company pursuant to said bid, a~l ot wh1ob 1s retleoted in the minutes or the City Commission in Book 6, a~ page 326; and
... \. PRO PO SAL NO. 2 I ~· One (lJ Nordberg Type TCG-216-, 2000 B.H.P., 225 R.P.Jl. gas•burntng, Yerti~al, 2-oyole Diesel Engine with One ( l) lGOO Jt. w. dire ot-oonne oted tlywhe.el type 50° 0. , 3 phaae, 60 oyole. 2~0 volt, AO generator equipped with tber.mooouples tor measuring internal heat ot winding with p}"1'*01Deter mounted on pedestal boal!'d DBar the terminals ot the thermooouples. also Motor Controlled Rheostat. Oenerator to be aeneral Eleotrio. Auxiliary and Accessory Equipment will be turnished as detailed on pages 0. an4 8. DBLIVERl; Proposal No. 2 • • • • • • - -........ • - -• '1 1/2 Uontha 'l'be Company agrees to turnish the services ot a oompetent erecting engineer to supervise the unloa41ng, erecting. and testing ot the equipment turnished herein. and to remain at the ple.nt site tor a period ot seven ('1) days atter ~p~etion ot e~otion to instruot the operating personnel. In the event at aooeptanoe, thia proposal shall be binding when approved by the Company end an Executive ottioer at Milwaukee. Wisoonsin. It is understood and agreed that the City's speo1t1oationa are incorporated in this propo.aal as tbough Qopie~ in full herein, and it 1e the intent ot this proposal that the City's epeo1-t1oat1ons be oonstrued to be an integral part of this p~opo~al and the provision ot sa14 ap•o1t1cat1ons that said oontraot shall be made pertomable in Lubbook. '.t'exas. shall mean that said ens1ne shall be shipped tl'OIIl J41lwaukee1 W1soane in, and delivered at Lubbock, Texas. The Purobaaer will turntah all toundationa aooor41ns to the Oompaey's plans and suoh sub-toundations (tor whioh the Compa~ ne1ther turn1ahea ·-.. -.. -. ---.. -. . ~
... -., , \ what 1e known aa 01 ty ot Lubbook Eleotrio Light & Power Co., situated on Block '1, Avenue 1, and 15th street, Original Town ot lubbook. Texas. The Cbmpany Bhall,under no olroumatanoes, be liable tor any oonse• quent1al or contingent damageo or tar any dalay oaused by tire·, strike, civil or military authority, or by insurrection or riot. or by any other cause beyond~the Company's control. · The Company agrees to repair or replace at the Company's ·option! with• out charge t.o.b. its works, any pert ot' the mohinery and e.oooasor ea ot Oo.mpany's own manutac~re, turnished under this contractl whiQh proves detective within one year 'attar date of priginal shipment, t suoh deteot in material, workmo.nship, or design existed when such mohinel'.Y was shipped pro1ided the Purohaser ~tlt1ea the Compaw Qt such alleged dete ot ~edia te Jy in writ in gJ returnill8 to tbe Company 1 transportation pre paid , the part claimed to be 4atecti.,., and inepeotio n by the Oompa ey establishes the olalm. The Company will make no allowance tor repairs or alterations made by Purob4ser or otheJJa than Company, unless ·made with the written consent or the Compa~. : The Company will, at its own expenae~ detend any eults that may be instituted by any one against the Purohaeer tor alleged infringement ot any patent relating to the machinery manutaotured by the Company under this proposal, provided suoh alleged infringement shall oonslst ot the use ot said machinery, or parte tbereot, in the Purchaser's business tor any ot the purposes tor v.h 1oh the same was sold • and provided the Purchaser shall have made all payments then due upon this oontraot, and shall give to the Oompany immediate notl ce in· writing ot the insti wtion ot any suoh suit. and tra.n$111 t to the Company • immediately uppn reoe1pt, all processes and papers served upon the ~ohaser, and permit the Company, through its Counsel, either in the name ot the Purobaser or in the name or the Company, to detend the same and give all needed 1nto!fnt1on1 asaistanoe, and authority to enable the Oompany to do so; and in oase ot a final award ot damages in such suit, the Oompnny will pay such award but it will not be responsible tor any compromise made without its written oonsent1 or shall it be bound to detend any suit or to pay any damages when the same shall arise by reason ot the use ot parts not :t'urnished by the CO%Ilpany under this propoaal.
, ... ·~ Twenty tour ( 24) equal oonaeautive jonthly installments ot · i'i.,. Thousand r1 ve Hundred Stxw Eight and 83 100 ($5,566.83) Dollars • tTidenoed by twenty tour (24.) warrants bearing interest at the-rnto ot JolU" (4.~)" per oent per annum anct dated from the date ot oanplet1on and aooeptance ot Engine. furobaser sball b.a ve the right to pay all or anJ part ot said indebtedness be tore :matur it;y. lt the purchaser electa to pay oafJh the above price is subject to two (2.) per oent <lisoount. Invoices shall be rendered b~-the Oompany trom time to time tor material whioh 1t is preJ)ared to ship and pe.Ylllent shall be made by the Purchaser in accordance with the above terms, suoh payments to date tran date ot suoh 1nvoioe. This proposal is hereby aooepted and agreed to NORDB:lmG !!ANUP'A.C'ltJRING COMPANY By Cb.ae B Trimble Ohas. B. 'l'rlmbfe, !laiee Rip. this 12th d~ ot July, 1937. City ot Lubbook By Ross Edwards Mayor Attest: ijvenia Williams ty se oretary. Contract approved b,y lAJ.rwood H ~cUey Ci t;y Attorney . This proposal approved at Milwaukee, Wisconsin, thia 29th day ot July, 1937. I'lORDBERG MANUFACTURDlG CO .. , E~Ba~lein \Foe-s14ent. WHEREAS said contract was executed and 4elivered in suoh mannar tbat the holler ot the obligations issued thereunder shall never have the right to demnd tbe1r payment out ot tunds raised or to be raised by-~axat1on; ·
' "' -. > WARRANT NOS. '· ' MATURITY DI\.TES AMOUNTS ~1 to G, 'both 1no1, ·~-1!11 .~ :ts, 1938 .5,562.00 '\6 to 10, " " Stfeembez ~ 1938 5,000.00 .~1 to )..~. .. "' " --Ta!!ttM:V !5! 193~ 5,000.00 ~ 16 to 20, 1. " " Belt:rtuu;y 15,-1939' 6,ooo.oo 21 to 28. I " .... = :: tl:: 5,000.00 'p 26 to 30 .. t;' 5,000.00 31 to 3Q: " " lk\v 2:&-.--li3i 5,000.Q.() 36 to 40, ,. " t J.tltm !:5 'l 1939 5,000.00 ; ... 4l to 4&, .. tt Jltly 10. lt3t 5,000.00 46 to 50, " " Aug~~ 1939 . 5,000.00 51 to 58, " " s~ , l93i 5,000.00 1te-w 101 ·" " ~.-~tJ39 5,000.00 ·-&l to 66, tt .. ~emb&r'""I~. 1W9 · 6,000,00 67 to 72. " " Deeeme•• *i• ei3~ e,ooo,.eo 73 to 78, " " IUfiOBf.Y 10, 1940 e,ooo.·OO 79 to 84, " " ~ebraB:r1 :to, 1940 6,000,00 8& to 90, " " < Mat cb l& 1 I940 e,ooo.oo 91 to 96, " II A~U ~~~ !940 6,000.00 97 to 102, " " ~ I ll-19~ e,ooo.oo .•. . . 103 1D lOS, ,, " Citm:~• z:; ~15 1940 e,..ooo.oo 109 to llA, " " ' ~0 6 .. "'000. 00 lle to 120, " " -t!{at : !~: ho , .. 1)00.00 121 to 126, " " Sept., 15, 1940 : .ooo.oo 127 to l33, " " October 15, 1940 . .ooo.oo 1ba t the City Commission ott1otally determines that the mat uri ties set forth as nearly a un1torm burden thl'oughout tbe te:rm ot said issue as the tinanoial condition or the Ciey wiU permit. 3. 1ha t sa 14 revenue warran te shall bear interest at the rate ot '~ per annum., the interest an ench revenue warl'ant being payable on the date tixed for the maturity ot said warrant. 4. That the O!ty reserves the right. to redeem any one ot or more ot said warrants at any time prior to maturity \dthout notloe ~Y payi~g the prinoi~al and aoorued interest oaloulated to said date or !Pfiyment. ~~"~ -. '< $1 -'i~
.. ... \1 , ~9 • with interest the1'8on tram date at the '!'!'r"!"atP'!e~o•r~•~~pe~r~annui78a1d 1n terest being p~a ble on the date fixed tor the maturity ot this warr81lt~" upon presentation and surren4er ot th1a warrant, no interest coupons being attached heretoJ both pr1no1pal nnd interest being payable at First National Bank, Lubbook Texas t an the City ot Lubbook 1s hereby held and firmly bound to apply tbe pledged and appropr.1a ted revenues to the prompt payment ot pr1no1pe.l and interest ot this warrant at its maturity. Tbe Cit:r reserves the right to pay this warrant at any time prior to ito maturity date by paying the pr1DC)1pal thereof aD4 interest thereon calculated to the date ot auoh payment. Notice ot intention to call this warrant prior to maturity shall be given in wr1 tins to the J'irst National Bank, Lubbock, Texas • on or babre the date so fixed tor redemption. In event the sum of money ov14enoed by this warrant shall not be paid at maturity the same sball tbereatter bear interest at the rate ot 6~ per annum until tully paid and in the event ot suoh detault and it b$oomes necessary tor the holder to plaoe this warrant 1n the hands ot an attorney tor oolleat1on the Oity obligates itself and promises to pay to the holder hereot an acld1t1onal ten (1~) per cent aa attorney's tees. This warrant 1s one ot a aeries ot warrants ot l1ke tenor and ettectl except as to denomination and as to maturities, numbered tram One ( ) to One Hundred Thirty Three ( l33), both 1nolua1Te in the denomination of 0~ Thousand l$1,000.00) Dollars eaoh, except Nu;ber One (l) tor One 'lhouse.nd Five Hundred Sixty '1\vo (01,562.00) Dollars, assregat1ng One Hundred Thirty Three Thousand Six Hundred Jitty Two (fl.33,6r52.00) Dollars issued by the 01ty ot Lubbock tor the purpose ot evidencing tbe City's obligation to pay tor an engine and certain equipment turn1s bed tor the eleotrio Light o.nd Power Plant ot said Ott)' in aooordanoe with the Conati tution and laws ot the Utate ot Texas. The prino1J)al and interest ot this warrant and ot the -• • -"--.... A---·-_.. ---_,._,_,_ --·-A ... .., aJI'I AY.~~o1u.a!,.A
>< .. IN TESTIMO~ ti!F~BOF the City C~aoion ot the Oity ot l.ubbook, 'l'ema, bas oause4 the seal ot sa14 City to be hereto impressed an4 this warrant to be signed by th-.1 ll\yor ot said 01 ty • oounter-sisne d by the· City Beoretary and regiatored by the City Treasurer as·ot October le, 1938. COUNTERSIOlZED: . crty se ot:etary, LUbbock, Texas. Jl&yor, ~~ty-o?~ub'tiook' ~~xefa• REGISTERED: ) -·attt 'l'Ne.suror, ~bOok, fexas. ---·:. .. ~. On tbe tiling aurtnce ot ea14 warrants there shall be printed subatant1alq the tollow1ng: · "Tba interest borne b;y the within warrant is not ev1denoe4 by ooupons, the obligation to PlY interest beins contained in the taoe ot the warrant itoelt • both pr1no1pal and 1ntereot being payable upon the surren4er ot said warrant at ita maturitf or on the date tixed tor its red~tion 1t oalle4 ' prior to me. turi ty • ._ ... 10. 'Ihe JdaYQ_r is hereby direoted to exeoute eaoh ot said warranta and the~ City Secretary 1 s bereby d1reoted to oountersign each ot said warrants. · 11. Mare speo1~1oelly the City hereby pledges a sut~1o1ent amount ot the revenues fl:Ol!l the operation ot ita eleotr1o light and ..vo.-• •va+.am t-..o nav tha nriruii.Dal and intenurt o t Bald Revenue Warre.nta
... ~ ~ The Revenue Vlarrants authorized by this ord1nanoe shall oc:mstitute auoh ob~1sationa ot the 01 ty ot Lubbock end are iaa~.e4 under the provis~ns ot Art1oles llll to 1118 ot the Revised Civil Statutes or 1920 as amen4e4. and Under such oiroumotanoes that eaoh ot said warrants aball oontain this quotation "the holder hereot ehall neYer have the right to demand payment ot this obligation out ot any tunda raised or to be raised by taxation." 14.. 1be Mayor, Oity Seoretnry • City Jlanaser and 01 v • Treasurer are here by directed to jo any and all things neoeS'llary or convenient to oarry out the purposes or this ordinanoe. 15. 'lhe taot thnt this ordinano• is considered necessary tor the usual daily operation ot a municipal department ot the City GovelmlD8nt creates an anergenoy and constitutes this an emergency measure requiring a suspension ot the charter provision which prohibits the final passage of an ordinance on the date introduced and it is so ordained. PASSED AND APPROVED THIS THE J.3th DAY OF Qctober ' 1938. • AT'l'ESTc fi:•,?lfl%<.t. c y ore 9.17 Approved as to torm