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HomeMy WebLinkAboutOrdinance - 633-1939 - Contract Between Lubbock And Nordburg Manufacturing Co. - 12/06/1939' ) '!'HE STATE OF TEXAS COUNTY OF LUBBOCK CITY OF LUBBOCK • . • . (R35 r 2-Ol.P· L93.9 The City Commission of the City of Lubbock, Texas, convened in recessed regular meeting in the City Hall on this the 6th day of December, 1939, with the following members present, to-wit: c. E. Slaton. W. G. MCMillan, J. A. Fortenberry lf. B. Price, Hub Jones, Miss Lavenia Williams, . . . . • . Mayor, Commissioners, 01 ty Secretary, with the following members absent, to-wit: None, constituting a quorum, at which time the following business was transacted• to-wit: Commissioner MCMillan introduced a proposed ordinance. The ordinance was read by the City Secretary. Commissioner M~illan made a motion that the charter provision prohibiting the passage of en ordinan.ce on the day introduced be suspended. Commissioner Fortenberry seconded the motion. The motion was carried by the unanimous vote of the Commission, to-wi AYES: Mayor Slaton and Commissioners McMillan, Fortenberry, Price and Jones. NOES: None • The Mayor announced that the rule had been suspended. CommissionerMeMillan made a motion that the ordinance be passed finally. The motion was seconded by Commissioner Fortenberry. The motion carrying with it the passage of the ordinance prevailed by the follow- ing vote: AYES: Mayor Slaton and Commissioners McMillan, Fortenberry, Price and J'ones. NOESt None. The ordinance as passed is as follows: . . \ .._) AN ORDINA.~CE t J ..J CONFIRMING CONTRACT BEIWEE!N THE .CITY OF LUBBOCK, TEXAS, AND ~ffimBEl<GMill'lUFAC'lURING COMPANY, PROVIDlllG FOR TEE PURCHASE OF .AN ENGINE AND CERTAIN :EY.iUIPMENT BY SAID CITY, TO BE USED llJ CONNECTION \ii'lH THE ELECTRIC LIGHT .AND .PO\IER P.r..MTT OF SAID CITY, PRO- VIDING FOR T".tlE ISSUANCE OF INTEREBT-BE.4RING TIME WARRANTS OF SAID CITY IN P .AYMENT mERE- FOR; PROVIDING FOR '!'HE LEVY .AN"""D COLL:OOTION OF TAXES ON AU. OF THE TAXABLE PROPERTY IN SAID CITY &'OFFICI~ TO PAY THE INTEREST ON SAID WARRANTS l!ND 'IHE PRINCIPAL .AB IT MA'IURES; AND DECLARING AN J!MEP.GENCY. WHEREAS, heretofore the City Commis s ion of the City of Lubbock has determined the necessity of purchasing an engine and certain equipment to be used in connection with the Electric Light and Power Plant of said City, and to issue interest-bearing warrants to evidence the City's in- debtedness therefor; and has directed the Mayor to advertise for bids in a newspaper of general circulation tritbin the City; and W-~, the Mayor has pursuant to the provisions of Chapter 163, Acts of the Regular Session of the Forty Second Legislature, advertised tor bids, which advertisement is in words and figures as follows, to-wit: "NOTICE TO BIDDERS Notice is hereby gi van that on the 5th day of December. 1939, at 1:00 o'clock, P.M., at the City Hall of the City of Lubbock, Texas, the City Commission ot the City of Lubbock will receive sealed competitive bids on proposal to sell and deliver F. o. B. cars, Lubbock, Texas, the following equipment: 1 -Natural Gas Burning Diesel Ehgine Generating Unit Minimum H.F. 2700 Maximum H.P. 3200 with direct connected generator of suitable size therefor, with necessary auxiliaries. Bids shall be accompanied by certified check of the bidder in the amount of five per cent (5%) of the bid price, unconditionally payable to the Mayor ot t h e City ot Lubbock, Texas, or a bidder's bond. Said bond to be executed by a responsible surety company who has a parmi t to do business in Texas, to guarantee execution of contract, if same should be awarded to the bidder. ; and Specifications may be obtained at the office of the City Manager. The City Commission reserves the right to reject any or all bids. If a contract be awarded for aaid equipment, the City Commission intends to issue time warrants for tl:s payment of all or a part of such purchase price, in an amount not exceed- ing Fifty Thousand ($50 , 000.00) I» llars , bearing Three ( 3%) 11er cent interest, and maturing in installments, the last installment .maturing not later than December 31, 1942. Givan this the 20th day of November, 1939. o. E. Slaton, Mayor, City of Lubbock, Texas." WEEREAS, the foregoing advertisement was published in _L_u_b_b_oo_k_l_~o_r_n_i_n .... e..._A_v_a_l_a_n_c_h_e _____ , a newspaper of general circulation in the City or Lubbock, Texas, on the following dates, to-wit: IJovenber 2ls a_n_d __ l_~o_v_e_m __ b _e_r __ 2_8~, __ 1_9~3_9 ______________ ; and v~. no petition was filed by the property tax paying voters asking for a referendum on the question of issuing said warrants; and \~EAS, The City Commission has heretofore on the 5th day of Decamber, 1939, opened and considered the bids tiled pursuant to said notice, and after opening the bids received deferred action the~eon until the 6th day of December, 1939; and WHEREAS, after further consideration of the bids filed the City Commission has found that the bid filed by Nordberg ~uractur g Company, Milwaukee, Wisconsin, is the lowest responsible bid; and ~lEEREAS, tm bid of Nordberg M:mutaoturing Company is as to llmvs: ~he Bidder proposes to furnish one {1) complete generating unit, consisting of engine, direct connected AC generator, V belt driven exciter, and all auxiliaries of the attached specifi- cations and in conformance With all the requirements for operation on tuel oil or gas fUel or both and including supervision of install•tio at site. Lump sum, F. o. B. Lubbock, Texas, based on cash Terms (See page 5a. in attached proposal): ONE HUNDRED SEV:ElrrY FIVE THOUSAND AND EIGHTEEN DOLLARS {$175,018.00). Net capacity of above generating unit under terms and conditions of these specifications will be 2235 kilowatts when operating with oil as tuel and will be 2010 kilowatts when operating with gas as fuel. Total shipping weight ot above equipment will be 493,000 pound • Delivery and installation will be completed within 150 calenda days from date of receipt of notice of approval of contract. Signed NORDBERG MANUFACTURmG OOhiPANY BY E. c. BAYERLEIN Title Vice President." { ~. on this the 6th day of December, 1939, tbe City of Lubbock acting by and through its proper officers, authorized by the City Commission, entered into a contract with the Nordberg Manufacturing Company, Contractor of Milwaukee, Wisconsin, whereby the said Contractor obligated itself to sell and deliver to said City an engine and certain equipment to be used in connection with the Electric Light and Power Plant of said City, in accordance with the specifications adopted by said governing body for that purpose, wtich contr.ct is as tallows, to-wit: "NORDBERG MANUFACTURING CO. MII.WAUKEE, WISCONSIN, u.s.A. Proposal No. MIL-39-76 Milwaukee, Wisconsin, U.S.A. December 1, 1939. CITY OP' D:JE:a:>CK (Hereinafter called the Pu:rcheser} Lubbock, Texas. Nordberg Manufacturill{!: Co. (here ine.fter called the Compa!ly') proposes to furnish the Purchaser, f. o • b • Cars, Jfi lwaukee, Wis., within Four (4) Months from date of e.ppro"fal of this contract, at the Compe.ny's ortice at Milwaukee, Wis., and i\'1~e1pt of all in- formation nece"Bse.ry tor the work to proceed w.i t:tl'n.lflterruption, unless delayed by strikes, tires, accidents,· or manufacturing con- tingencies beyond the reasonable control of the Company, the here- inafter described machinery, such machinery to be in st~ict con- formity with the specifications of the Company (etteched to this proposal ffn4 forming part hereof), to-wit: ONE (l)Nordberg Type TSG-218, 3200 B.H.PJ, 225 R.P.M. Crosshead Piston Constructed, Mechanical In· jection Convertible Gas Diesel Engine arranged for direct connection to ONE (1) 2250 K.W., .e power factor, 3 phase, 60 cycle, 2400 volt, 60°C. alternating current flywheel type generator, equipped with motor-operated rheostat and temperature indicating equipment. ONE (1) 30 K.W., 1]!)0 R.P.M., shunt wound, multi-V-belt driven exciter. The Company will furnish any standard make of generator and exciter whioh may be selected by the Purchaser subject to the Company's approval with respect to design, capacity and efficiency. Accessory equipment, spare parts, end auxiliary equip- ment will be turniehed as listed on Pages 7~8, 9 and 9a. The Company shall furnish .. , without additional cost to the Purchaser, the services ot a competent erecting engineer to super- vise the erection and starting of the machinery, and to instruct the Purchaser's operating personnel for a period of seven calendar,' days attar machinery is erected and ready tor -commercial operation. ~e purchaser shall pay $15.00 per eight-hour working day and regular overtime rates of the Company, p lus all 11 ving and mis ... cellaneous exp enses, for erecting engineer services in excess of the above stated period, unless otherwise specified herein. The purchaser shall notifY the Company when ready for actual erection to beg in. ~action shall be continuous and without delay, and if erecti .ng engineer is delayed by any cause for which the Company is not responsible, the Purchaser shall pay the Company for his services in the sum of $15.00 per eight-hour working day, plus all living and miscellaneous exp enses for the period of such delay. If en'/ delay is such that work must be sus- pended and resumed later, t h e Pu rchaser shall p ay t h e Company for all additional time, railroad fares, and expens e s of CompanY's erecting engineer in leaving and returning to Purchaser's plant. Adequate unskilled labor for unloading, moving, and erection of machinery, under the supervision of erecting engineer, also pipe fitters, electricians, welders, or such other skilled labor as may, in the Company's judgment, be required, shall be fur- nished by the Purchaser at Furchaser's expense. The Purchaser shall furnish the necessary tackle and other facilities for novi~ and lifting of the heavy parts, and necessary bracing or reinforcing of floors, and such other approved appliances and material hece ssary for the prompt erection of the machinery. · The Purchaser shall unload the equipment from cars and transport it to the foundations. The Purchaser shall properly place principal parts on the foundations and place other parts nearby. All openi ng s in buildings for passage of machi n ery and apparatus necessary for the erection a nd operation of said equipment shall be p rovided by the .Purchaser at his expense, and any such openings as are of a temporary character shall be closed at the e x p ense of the Pur- chaser. The Purchaser shall arrange for all necessary right-of-ways, and shall procure such permits as may be require d for the trans- portation from cars and installation of machinery· and appurtenances. The Purchaser shall furnish all f uel, lubricating oil, water, e l ectric current, etc., required for the operation of the machinery and equipment after erection and during the preliminary operation thereof, together with regular operat ing personnel under the supe rvision of the Company's erec ting engineer. The Purchaser qgre es to pay all l ocal taxes assessed upon the machinery and shall provide and maintain adequate liability and Indemnity Insurance covering all men in their employ, who may be assisting in the erection of this machinery. The Purchaser shall provide ru1d maintain adequate f ire, water, and tornado insurance for the machinery herein described agai nst loss or damage from the time the same is delivered to the Purchaser, in an amount at least equal to the unpaid purchase price thereof. The policies for such insurance shall be made payabl e to the Company as its interests may appear. A:!ly i n surance received by the Comp any und er such policies shall be applied by it in reduction of the p urchase price. Failure to provide insurance shall not relieve t he Purchas er from his obli- gation under this agreement. A suitable place shall be provided by the Furchaser where the machinery, tools. and equipment can be locked up for pro- tection against theft, and the elements, and, if deemed necessary by the Company's erecting engineer, a watchman shall be provided by the Purchaser at the Purchaser's expense. The Purchaser shall furnish suitable building~ or buildings, tor permanently housing the equipment, and shall give the Company's erecting force tree access to se.me. The Purchaser shall furnish all foundations according to the Company's plans, and such sub-foundations (tor which the Company neither furnishes plans nor assumes responsibility} as the conditions require. When transporte.tion is included in this contract, it is based on the lowest prevailing rates aqd transportation facilities at the t i.me t he contract is executed. In the event of any changes in rates or transpor~ation facilities at the time ot shipment, the con• tract price shall be modified accordingly. It is understood and agreed that the Company retains, and it is hereby recognized by the Purchaser, a mechanic's builder's, and materialman's lien on said machinery and all parts thereof, until the purchase price as hereinafte~ recited shall be tully paid according to its terms, tenure and effect, and an express lien upon, end the superior title to, said machinery is and shall be retained and held by the Company and is hereby recognized by the Furchaser until said purchase price shall be fully p aid. It is understood that the said machinery is for erection and use in what is known as City of Lubbock Electric Light and Power Company, situated on Block 7, Avenue "J" and Fifth Street, original town of Lubb ock, Texas. T.lle Company shall, under no circumstances, J>e li~ble tor any consequential or contingent damages or for any delay caused by tire, strike. civil or military authority, or by insurrection or riot~ nor shall the Company be liable tor any cause beyond its control. The Company guarantees, for a period ot one year after date of shipment, any end all machinery, equipment, auxiliaries, accessories, and atta~ents, if listed in the following specifications, and if manufactured by the Company, to be free from defects in material and workmanship. The Company agrees that in case any such machinery, equipment, auziliaries, accessories, and attachments, or any part thereof, be returned to the Company, at its option, with transportation charges prepaid, within twelve months from date of shipment • and pro- vided the Company has been notified in writing of the alleged defect within ten days after its discovery by Purchaser, and if the Company's examination shall disclose to its satisfaction that said machinery, equipment, or any part thereof has been defective in the workmanship or material, the Company will deliver to Purchaser without charge, r.o.b. Company's Works. parts of first-class workme~ship and materiel in ex- change for any such parts so found to be defective, and the obligation ot the Company under this guarantee is limited' to such exchange vri thout charge. This warranty is in lieu of all other 'll'rarranties expressed or implied relating to defective materials ap~ workmansh~p~ and of all other obligations or liabilities of the Company in connection therewith. AnY and all machinery, equipment, auxiliaries, accessories, and attach- ments, 1~ listed in the following specifications, but which are not manufactured by the Company, are sold only under the particular manu- facturer's regular warranty, copy of which will be supplied upon request. The Company assumes no responsibility tor any equipment. auxiliaries, acces sories, and attachments specified by the Purchaser which are not manufactured by the Company. This guarantee does not apply to any machinery or equipment or part thereof which ahal:J,have been re- paired or altered by others than the Company, in any way so as, in the Campany(s judgment, to affect the same, nor which has been sub- ject to negligence, accident, or other than normal use and service. The Company reserves the right to make any change in the design of any or all machinery or equipment without obligation to make such changes in machinery or equipment 9reviously sold. The Company will, at its own expen se. defend any suits that may be instituted by any one against the Purchaser for alleged infringement of any patent relating to the machinery manufactured by the Company under this proposal, p rovided such alleged infringement Shill consist of the use of said machinery, or parts thereat, in the Purchaser's business f or any of the purposes for which the same was sold, and provided the Purchaser shall have made all payments then due upon this contract, and shall give to the Company immediate notice in writing of the institution of any such suit, and transmit to the Company, immediately u9on receipt, all processe s and papers served upon the Purchaser, and pe nnit the Company, through its Counsel, either in the name of the Purchaser or in the name of the Company, to defend the same and give all needed information, assistance, and authority to enable the Company to do so; and in case of a final award of damages in such suit, the Company will pay such award but it will not be responsible for any compromise made without ita written consent, or shall it be bound to defend any suit or to pay any damages when the same shall arise by reason of the use of parts not furnished by the company under this proposal. In case of any delay in the shipment, erection , or sts.rting of the machinery herein specified, or any part of the same, caused directly or indirectly by the act of the Purchaser, and not through any fault of the Company, such delays shall not in e.nywi se affect or po stpone the payments herein agreed to be made by the Pur- chaser. or any of them, and in case of any delay in shipment, the machinery and the various parts thereof, shall be held at PUrchaser's risk, and the Purchaser shall pay for storage of the same at the rate of ten cents per square toot per month. If the lUrchaser defaults in any payment when due, then all payments of the Purchase price and all notes or renewals thereof will immediately become due and payable on demand and any attorney :fees incurred shall be borne by the Purchaser. The foregoing proposal is subject to the approval of an executive officer of the Company at the home office at Milwaukee, Wisconsin, and is not binding upon the Company until so approved, nor in any event unless accepted by the Purchaser w1 thin Thirty Days from date of its submission, after which it is subject to change or with- drawal without notice. This proposal as it exists at the date of approval by the Company shall after such approval become and shall be deemed at law to be an agreement between the Company and the Purchaser, and all previous communications betvreen them, either verbal or written, shall thereupon be, and be deemed to be abrogated and withdrawn, and this p roposal when duly signed, accepted and ap9roved shall thereupon constitute and become i n all respects the sole a greement between the parties hereto, and no modification thereof shall be binding upon the parties hereto or either of them, Qnless such modification shall be in writing, duly executed hy the rurchaser and approved by an executive officer of the company. PRICE: t.o.b. Lubbock, Texas, One Hundred Seventy Five Thousand and Eighteen Dollars ($17~,018.00). Said purchase price to be paid in the following manner: (a) Fifty Thousand (tso,ooo.oo} Dollars in lawfUlly ie§ued time warrants bearing interest at the rate ot Three (~} per cent per annum, and maturing in installments, the last installment maturing not later than December 51, 1942, tor which warrants a tax shall be levied sufficient to ~Y the interest as 1 t accrues and to :pay the principe.l e.s it matures. (b) The remainder of such pUrchase price, shall be paid out ot available fUnds and current revenues to be lawfully appropriated by ordinance, such payment or JB1Jilents to be in New York, Chicago or Milwe:ukee excbange, tree of expense to the Company for collection charges. Any Manufacturers' '!Bx, Use Tax, or Bales Tax ot any nature whatsoever, applicable to this contract must be added to the pr1oee and terms herein contained. NORDBERG MANOFACTIJRING CO. BY: C. B. TRIMBLE T.ERRITORIAL.MANAGER - SOUTHWBST TERRI'roRY. This proposal is hereby accepted and agreed to this 6th day ot December, 1939. Attest: Lav enia vli llie.ms City Se crete.r~r - CITY OF LUBBOCK, TEXAS. BY C.E . S lat on Mayor, City of Lubbock, Tens. (Seal) This proposal approved at Milwaukee, Wisconsin, this ___ day of -------·• 19 __ • NORDBERG MANUFACTURING COmA NY. E . C. Ba yerlein President. Vice-President. Treasurer Secretary." ; and WHEREAS, the Charter of the City of Lubbock, Texas, limits the issuance of time warrants during any one year to an amount not exceeding Fifty Thousand {$50,000.00) Dollars; and ~JS, the City has not heretofore during the year 1939 issued any interest-bearing time warrants; and WHEREAS, the amount of this issue is Fifty Thousand (t5o,ooo.oo) Dollars; and V~, the City does not have funds on hand sufficient to pay the entire purchase price of said engine and equipment, and the issu- ance of time warrants as hereinafter provided is necessary to pay a part of such purchase price; and ~, this ordinance levying a tax to support the warrants is being passed concurrently with, or in advance of the delivery of the machinery; BE IT ORDAIN.E:D BY THE CITY OF LUBBOCK: 1. That said contract be, and the same is hereby in all things ratified, confirmed and approved as the act and contract of said City, and the same shall have effect according to its tenor and purport; 2. That in accordance with said contract warrants of said City be denominated dCity of Lubbock Electric Light Plant Improvement Warrants, Series 1939", be issued under and by virtue of the Constitution and laws of the State of Texas, and the Charter of said City, in the sum of Fifty Thousand ($50,000.00) Dollars, payable to the Nordberg Manufacturing Company., or bearer. evidencing the indebtedness due by said City, under and by virtue of said contract; 3. Said warrants shall be numbered from One (1) to Fifty '{l50), both inclusive, shall be of the denomination of One Thousand (#1,000.00) Dollars each. aggregating Fifty Thousand ($50,000.00) Dollars. ./ They shall be dated Dec~ber 1, 1939, and shall bear interest at the rate of ll tbre& (3%) per cent per annum, payable March 1, 1940, September 1, 1940; and March 1, 1941 and thereafter on the maturity date of each of said warrants, II which interest is a part of the contract price agreed to be paid tor said en- gine and equipment. Pri ncipal and interest of said warrants shall be payable at the office of the City Treasurer, Lubbock, Texas, and said warrants shall be made to mature serially as follows: ltlARRaN'IS NtiMBERS MA.TURITY DATES AMOUNTS 1 to 5, both incl. March 1, 1941, • 5,ooo.oo 6 to 10, It It April 1, 1941, 5,ooo.oo 11 to 15, It tt May 1, 1941, s,ooo.oo 16 to 20, It " .Tune 1, 1941, 5,ooo.oo 21 to 25, tt • July l, 1941 • o,ooo.oo 26 to 50, ft· .. A.ugust 1, 1941, 5,ooo.oo 31 to 35, • • September 1, 1941, 5,ooo.oo 36 to 40, ft ft October 1, 1941, s,ooo.oo 41. to 45, • It November 1, 1941, 5,ooo.oo 46 to 50, .. It December 1, 1941, s,ooo.oo 4. Said warrants ehe.ll be signed by the Mayor, countersipd by the City Secretary of said City, and registered by the City Treasurer and the saal ot the said City shall be impressed upon each of them. The facsimile signatures of the Mayor and City Secretary may be lithographed or printed upon the coupons attached to said warrants and shall have the sElll8 effect as if they had been signed by them •. 5. The fo::an of such warrant s shall b~ substantially as follows: NO •. __ _ UNITED STATES OF AMERICA. sr•TE OF TEnS OOUNTY OF LUBBOCK CITY OF LUBBOCK ELBCTR:tO LIGln' PLANT nD?R:>VlMENT lWmANT SERIES 1939 tl,ooo.oo The City ot Lubbock, a municipal corporation in Lubbock County, Texas, for value received• acknowledges itself indebted and the City Treasurer is hereby directed to pay to the Nordberg Manufacturing Company, or bearer, on the Js t day of-----------' 19 __ _ ONE 'mO~ DOLI.Am in lawful money of the United Statee of .America, with interest thereon from date hereof at the rate of Three (~)per cent per annum, payable (*see atipula- tion below to be inserted in each of said warrants) which interest is evidenced by coupons attached hereto, principal and interest J . . being payable at the office of the City ~easurer, Lubbock, Texas, upon presentation and surrender of warrant or proper coupons; and the City Treas~r is authorized, ordered and directed to pay to bearer, said principal sum and interest as the same matures. In the event the sum of mon~ evidenced by this warrant and the annexed coupons ~all not be paid at maturity, the same shall thereafter bear interest at the rate of Three (3%) per cent per annum, until tully paid, and in the event of such default a nd it becomes necessary tor the holder hereof to place claim therefor in the bands of an attorney for collection or to institute suit thereon, then said City obligates itself to pay to the holder an additional ten (10%) per cent as attorney•s fees. THIS WARRANT is one of a series of Fifty (50) warrants of like date and tenor except as to maturity, numbered One (1) to Fifty (50), both inclusive, in the denomination of One Thousand ($1,000.00) Dollars each, aggregating the sum of Fifty Thousand ($50,000.00} Dollars, issued for the purpose of evidencing the indebtedness due by said City to the Nordberg Manufacturing Company, or bearer, for the purchase of an engine and certain equipment furnished for the Electric Light and Power Plant of said City, in accordance with contract therefor; and pursuant to an ordinance passed by the City Commission of said City, which ordinance is recorded in the minutes of said COmmission. THE DATE of this warrant. in conformity with the ordinance above mentioned is necamber 1, 1939. AND IT IS HliREBY CERTIFIED AND RE;IT.ED that the issuance of this warrant, and the series of which it is a part is duly authorized by law, and the Charter of said City; that all acts, conditions and things re- quired to be done precedent to and in the issuanoe of this warrant and ot this series of warrants, have been properly done, have happened and been per- formed in regular and due time, form, and manner as required by law and the Charter of said City, and that the total indebtedness of said City, including this warrant ~~d the entire series of which this is one, does not exceed any constitutional, statutory, or charter limitation; and that a sufficient tax to pay the principal and interest of this warrant and the entire series of which this is one has been levied for said purpose and will continue to be annually levied, assessed and collected while said warrants or any of them are outstand IN TESTIMONY WHEREOF,-the City of Lubbock by its City Commission has caused the seal. of the said City to be hereto affixed, and this warrant to be signed by its Mayor, countersigned by its City Secret~ and registered by its City Treasurer as of the 1st day of December, 1939. COONTERSIGNED: Mayor, City of Lubbock, Texas. City Secretary, City of Lubbock, Texas, REGISTERED as of the lst day of December, 1939. City Treasurer,City of Lubbock,Texas. Nos. * ~/One (1) to Five (5), both inclusive shall contain the following stipulation: "March 1, 1940, September 1, 1940, and on the maturity date of this warrant , n Warrants Numbers Six (6) to Fifty (50), both inclusive, shall contain the following stipulation: "March 1, 1940, September 1, 1940, March 1, 1941, and on the maturity date of this warrant", 6. The form of interest coupons attached to each of said warrants shaJ.l be substantially as follows: NO. ___ _ $. ____ _ On the_ day of-----' 19__, the City Treasurer of the City of Lubbock, Texas, will pay to bearer at the office of the City Treasurer, Lubbock, Texas, the sum of _________ ($ _________ ) Dollars, being __ ....;months 1 interest due that day on 11 City of Lubbock, Texas, Electric Light Plant Improvement Warrant 1 1939, No. • City Secretary. 7• There shall be printed on the back of each of said warrants the following endorsement for the purpose of transfer of same: ENDORSEMENT THIS IS TO CERTIFY THAT NORDBERG MANUFACTURING COMPANY received the within warrant and interest coupons annexed thereto from the City Officials of the City of Lubbock, Texas, and f or value received hereby transfers, sells, ani delivers said warrant and annexed coupons to bearer1 without recourse, and the bearer hereof is hereby subrogated to all claims, rights, and title, whether at law or in equity, which are or may be secured to it under said warrants and the contract under which same were issued, and the bearer is authorized to collect same and to give full receipt and acquittance therefor. NORDBERG ?iiANUF.AC!W'RING COJI.l:PANY BY ______________________ __ rw __________ ~------ 8. That to pay the interest and to create a sinking fund to retire said warrants at their maturity and to provide for 10% attorney's Twelve fees in event of default, a tax of and at the rate of ---------------- ¢) Centw on the One HUndred Dollars' valuation of all taxable property in said City of Lubbock, Texas, is hereby levied tor the year 1940; that duri the year 1941 and each year thereafter while any of said warrants are outstand- ing and unpaid, and at the time other City taxes are levied in each of said years there shall be computed and ascertained what rate of tax based upon the latest approved tax rolls of Sfid City will be necesaary, requisite and suffi- cient to fully make, raise and produce in each of said years the amount of principal necessary to be raised for that year, plus the interest maturing in said year upon the amount of this series of warrants outstanding and unpaid, and to provide for 10% attorney's fees in case of default and for each of said years there is hereby ordered to be and there ia hereby levied and ordered to be assessed and collected in due time, fo~ and manner a tax at the rate which shall be found necessary as aforesaid, and all the proceeds of such taxes shall be placed in a separate fund for this series of warrants, known and designated as ttSP.ECIAL ELECTRIC LIGHT PLANT IMPROVEMENT WARRANT FUND, SERIFS 1939", end the City Treasurer shall not honor any draft upon said fund or pay out any of the same except in the payment of interest on said warrants or for retiring the same or for attorney's fees, as provided above. 9. The Mayor and City Secretary are hereby directed to execute said warrants, and the Treasurer is h e reby directed to register them and said officers are hereby directed to deliver said warrants to Nordb.eJ:g ' , ) ' Manufacturing Comp~~y, in consideration for the delivery to the City of said engine and equipment as e.nd when said engine aDd equipment have been delivere to the City and accepted by the City as in accordance vnth said contract. 10. The fact that this ordinance is considered necessary for the usual daily operation of a municipal department of the City Government creates an emergency and constitutes this an emergency measure requiring a suspension of the Charter provision which p rohibits the final passage of an ordinance on the date introduced and it is eo ordai ned. PASSED .AND APPROVED thi City Secre tary, City of Lubbock, Texas.