HomeMy WebLinkAboutOrdinance - 671-1941 - Authorizing Purchase Of 1387.66 Acres Of Land. From Betty Lindsey. - 06/24/1941)
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THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
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BE IT REl\II EiviBERED that on this the :J c.f.~ay of
June A. D. 1941, the City Commission of the City of Lubbock,
Recessed Texas, met in ~egular meeting with the Mayor and all four
Commissioners present and the following, among other, pusiness
was transacted, to wit:
Commissioner Hub J'9,nes offered .for
consideration and passage an ordinance.
The ordinance was read in full by the City
Secretary. The motion was made by Commissioner Hub Jones
that the charter provisions prohibiting the passage of an
ordinance on the day introduced be suspended, and that this
ordinance, when passed, take effect immediately as an emergency
measure. The motion was seconded by Commissioner Garland Newsom
and the motion carried by the unanimous vote of the City Com-
mission.
The Mayor then announced that the rule had been
suspended;.
The motion was then made by Commissioner W.G. McJ;Iillan
that the ordinance be finally passed. The motion was seconded
by Commissioner \l.B. Price , and the motion carried by the
. -unanimous wote of the City Commission.
The Mayor declared the ordinance finally passed.
The ordinance is as follows:
ORDINANCE NO . b 7 I
AN ORDINANCE AUThORIZING THE PURCHASE BY THE CITY
OF LU BBOCK CP 1387.66 ACRES OF LAND LOCATED AND SI~uATED IN LUoBOCK
COUNTY, TEXAS, FROM: 1\iR::>. BE T'l'Y LI ND::>EY AS TRu S'rEE F O h RALPH Lil~DSEY,
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MRS. LOYETT LIND3EY THOl\!PSO.N AND MRS. HAZEL LINDSEY, AND FROM
MRS. BETTY LINDSEY, RALPli LINDSEY AND B. J. McKENNA AS TRUSTEES
FOR ERNEST LINDSEY; SAID LAI~D TO BE USED FOR THE PURPOSES OF
LEASING OR SELLING THE SAME TO THE GOVERNMENT OF THE UNITED
STATES OF AMERICA WHO DESIRES TO ESTABLISH, EQUIP AND MAINTAIN
ON SAID LAND AN ADVANCE TUIN ENGINE AIR CORPS SCHOOL FOR THE
PURPOSE OF TRAINING PILOTS FOh THE AIR CORPS OF THE UNITED STATES
ARMY; PROVIDI 1~G FOR THE ISSUANCE OF INTEREST BEARING, TIME WARRANTS
TO THE CITIZENS' NATIONAL BANK OF LUBBOCK, TEXAS, A CORPORATION,
WHICH BANK IS ADVANCING THE MONEY TO THE CITY OF LUBBOCK WITH
\~ICH TO PAY THE OID~ERS THE PURCHASE PRICE FOR SAID LAND, SAID
WARRANTS TO REPRESENT THE CITY'S INDEBTEDNESS HEREUNDER, LEVYING
THE NECESSARY TAX TO PAY THE INTEREST AND TO PROVIDE A SINKING
FUND TO REDEEM SAID WARRANTS AT MATURITY, AND DECLARING AN
EMERGENCY.
WHEREAS, His Excellency, Franklin Delano
Roosevelt, President of the United States of America, did on
May 27th, 1941, issue a proclamation declaring an unlimited
national emergency exists and requires the strengthening of our
national defenses to the extreme limit of our national power and
authority and that the nation Will expect all individuals and
groups to play their full parts without stint and without
selfishness and without doubt that our democracy will triumphantly
survive. And,
WHEREAS, the Forty-seventh Legislature of the
~tate of Texas, has by the passage of Senate Bill No. 398, fully
authorized and empowered the City of Lubbock to acquire by
purchase without condemnation, and thereafter maintain and operate
as an airport, or lease, or sell, to the Fed e ral Government,
tracts of land with.in or without the corporate limits of the
City of Lubbock and within the County of Lubbock. And,
WHEREAS, the City Commission of the City of
Lubbock, Texas, has determined that it is to the best interest
of the City of Lubbock, as well as its patriotic duty to the
Federal Government to purchase 1387.66 acres of land, located
and situated in Lubbock County, Texas, and to lease or sell
the same to the Federal Government as a means of cooperating
with the Government of the United States of America in carrying
out its program of national d efense and to do its utmost within
the limits of its powers and rescources to aid the Federal
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Government to prepare, train and equip its Army, Navy and Air
Corps to their utmost strength and efficiency to the end that
the free, democratic Government of the United States of America,
its people and institutions may be defended from the ruthless,
aggressive, totalitarian nations now making war upon the nations
of Europe and threatening the peace of the ~~estern Hemisphere.
And,
WHEREAS, Mrs. Betty Lindsey, Ralph Lind sey
and B. J. McKenna, as Trustees, own and hold title to 1387.66
acres of land in Lubbock County, Texas, which they have agreed,
bound and obligated themselves to sell to the City of Lubbock,
Texas, for the sum of THIRTY-FIVE ($35.00) DOLLARS per acre
in cash, and, whereas, the City of Lubbock, Texas, has agreed,
bound and obligated itself to purchase from such persons as
Trustees said 1387.66 acres of land and has agreed to pay for
said land the sum of $35.0 0 per acre. And,
WHEREAS, the total purchase price for said land amounts
to . tbe sum ~of FORTY-EIGHT THOUSAND FIVE HUNDRED SIXTY-EIGHT AND
10/100 ($48,568.10) DOL~RS, of which amount the City of Lubbock
is at t h is time able to pay only the sum of $568.10, and is
without sufficient funds to pay the remaining $48,000.00 due
the owners for said land. And,
WHEREAS, the Citiaens 1 National Bank of Lubbock,
Texas, a corporation, has agreed to advance to the City of
Lubbock the sum of f48,000.00 in cash with which to pay the
owners the balance due on said lands, to wit: The sum of
$48,000.00, and, whereas, said Bank has agreed to accept time
y warrants to be issued by the City of Lubbock in payment .of the
$48,000.00 advanced by said Bank for the purposes aforesaid.
THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF LUBBOCK, TEXAS:
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SECTION 1: THAT the City of Lubbock be
and it is hereby in all things authorized and empowered to
purchase
All of that part of Section Twenty-six (26)
lying North of the State Highway No. 24,
all of Section Four (4), all of the South
Half of Section Twenty-five (25), all in
Block D-6, and the Southeast One-fourth
(SE ~} of Section Forty-eight (48) in Block P,
All located and situated in Lubbock County,
Texas, containing 1387.66 acres of land,
and to pay therefor the sum of $35.00 per acre, or a total of
~48,568.10, all to be paid in cash upon the execution and delivery
by the owners of their general warranty deed conveying title to
said lands to the City of Lubbock.
SECTION 2: THAT in accordance with the purchase
of the property described in Section 1 hereof, warrants of the
City of Lubbock, Texas, to be called "City of Lubbock , Texas,
Advance Twin Engine Air Corps School Warrants, Series 1941",
be issued in the amou nt of FORTY-EIGhT THOUSAND AND N0/100
($48,000 .00) DOLLARS, payable to The Citizenst National Bank
of Lubbock, Texas, or bearer, evidencing the indebtedness due
the said Citizens' National Bank by reason of the advancement
by the Citizens' National Bank to the City of Lubbock the sum
of ~48 ,000.00 in cash to pay on the purchase price of the land
described in said Section 1 hereof.
SECTION 3: Said warrants shall be numbered
from 1 (one ) to 3 (three) , both inclusive, shall be
in the denominations of $16 1 000.00 (SIXTEEN THOUSAND DOLLARS)
each, and shall be dated the 1st day of July
------~--------1941,
and shall become due and payable according to the following
schedule , to wit:
WARRANT NO.
1
2
3
MATURITY DATES
February 1st, 1942
February 1st, 1943
February 1st, 1944
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AMOUNTS
$16,000.00
.Ji;l6,000.00
~j)l6 '000 .oo
Said warrants shall bear interest at the rate of two per cent
(2%) per annum from date until paid, interest payable the first
_1lq IJ VI$_ t--~~I day of ~uary , and semi-annually thereafter on
the first day of .GfJte\",-7 and the first day of Pfe7t::.;(
of each year, principal and interest payable at the office of
the City Treasurer, Lubbock, Texas, or at the Citizens• National
Bank in Lubbock, Texas, at the option of the holder.
SECTION 4: Said warrants shall be signed by
the Mayor, counter-signed by the City Secretary and registered
by the City Treasurer, and the seal of the City of Lubbock
shall be impressed upon each of them. The facsimile si·gnature
of' the Mayor and the City Secretary may be lithographed or printed
on the coupons attached to each of said warrants.
SECTION 5: Said warrants shall be in substantially
the following form:
No. I
UNITED STATES OF M~ERICA
STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
ADVANCE TWIN ENGINE AIR CORPS SCHOOL WARRANTS,
$!6ooo ~c
SERIES 1941
The City of Lubbock, in the County of Lubbock,
and State of Texas, for value received, is justly indebted to
the Citizeps National Bank of Lubbock, Texas, or bearer, on the
;~( day of /i1 ruar l9 4 V, for the principal sum of
$_.;!:.....:b:;;..~C.....:::::O~o~&=>-===.:>;;___ ( S 1 fc ,z. 11 7h ou .J t1 n c/-----DOLLARS ) 1 n lawful
money of the United States of America, together with interest
thereon from Qate until paid at the rate of 2% {two per cent)
per annum, payable ;-9::1-' day of J1u7us r l9 .tf !, and
thereafter semi-annually on the 1~1-day of RbruAr'J , and the
day of _ __,_/l"-'u~9..;;..;u'-'.s:;......i"---_ of each year, and the full
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faith, credit and resources of the said City are hereby
irrevocably pledged to the prompt payment of this warrant, and
the annexed coupons, and the City Treasurer is authorized, ordered
and direct4d to pay to bearer said principal sum, together
with interest thereon, evidenced by coupons attached hereto,
principal and interest payable at the office of the City
Treasurer, Lubbock, Texas, or at the Citiaenst National Bank
in Lubbock, Texas, at the option of the holder, upon presentation
and surrender of warrant or proper coupons. In the event the
sum of money represented by this warrant and the annexed coupons
shall not be paid at maturity, the same shall thereafter bear
interest at the rate of 4% {four per cent) per annum until fUlly
paid, and in t~e event of such default, and it becomes necessary
for the holder hereof or of any coupons attached hereto, to
place claim thereof in the hands of an attorney for collection,
or to institute suit thereon, the City of Lubbock, Texas, is
obligated to pay to the holder an additional ten per cent (10%)
of the amount of default as attorney's fees.
This warrant is one of a series of ~rtt..<Z:
warrants, numbered consecutively from One (1) to ?hrG~ (3)
both inclusive, in the denomination of s, y./ccn 7housaHq
DOLLARS {$ !(p1 ooo <9_.2 ) each, aggregating the sum of FORTY-EIG HT
THOUSAND AND N0/100 ($48,000) DOLLARS, issued for the purpose
of evi dencing the indebtedness of said City of Lubbock, Texas, to
the Citizens' National Bank of Lubbock, Texas, who has advanced
$48,000.00 in cash to the City of Lubbock to pay the purchase
price of a 'tract of land located and situated in Lubbock County,
Texas, to be leased or sold to the Federal Government for the
~ purpose of establishing thereon an advance twin engine Air Corps
School, conveyed to the City of Lubbock, Texas, by Mrs. Betty
Lindsey, as Trustee for Ralph Lindsey, Mrs. Loyett Lindsey
Thompson and Mrs. Hazel Lindsey, and Mrs. Betty Lindsey, Ralph
Lindsey and B. J. McKenna, Trustees for Ernest Lindsey, by
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Warranty Deed, dated the /0~ day of June, 1941, in accordance
with the terms and stipulations of an agreement between the City
of Luobock, to purchase, and the said Trustees, to sell said
land, and under and by virtue of the Constitution and laws of
the State of Texas, including the provisions of Chapter 163,
Acts of Regular Session of the 42nd Legislature and ~enate
Bill No. 398, passed by t h e 47th Legislature and the Charter
of the City of Lubbock and pursuant to an ordinance passed by
the City Commission of said City of Lubbock, Texas, which Ordinance
is duly recorded in the minutes of said City Commission.
The date of this Warrant in conformity with
abov~ mentioned is the Jd. day of ~ 1941.
And, it is hereby certified and recifed that
the Ordinance
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all acts, conditions and things required to be done precedent
to and in the issuance of this Warrant and the series of which
it is a part, including the levying of the tax to pay principal
and interest thereon, have been properly done, have happened
and been performed in regular and due time, form and manner as
required by law, and that the total indebtedness of said City,
including thiB Warrant does not exceed any constitutional,
statutory or charter limitations.
IN WITNESS ~r.lliREOF the City of Lubbock, Texas,
has caused the corporate seal of said City to be affixed hereto
and this Warrant to be signed by its Mayor, counter signed by
its City S~cretary and registered by its City Treasurer, as of
the date last above written.
COUNTERSIGNED:
City Secretary, City of Lubbock,
T e x a s
Ma yor, City of Lubbock, Texas
REGISTERED as of the a.ay of------
City Treasurer, City of Lubbock
T e x a s.
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1941.
SECTION 6: The form of interest coupons shall
be substantially as follows:
No. I
19 .tf-1 , the City
Treasurer of the City of Lubbock, Texas, will pay to bearer at
the office of the City Treasurer, Lubbock, Texas, or at the
Citizens' National Bank in Lubbock, Texas, at the option of the
holder the sum of Twanfr(. S.t'l C(f?r/ ~7/tc>o --( $ ? (, ·" '7.
DOLLARS, being months' interest due on the City
of Lubbock, Texas 1 , Advance Twin Engine Air Corps School Warrants,
Series 1941, dated the ;d' day of ___ J_.!u::l...l-.:ly7'----1941,
to'which this coupon is attached and is a part thereof, No. I • _.........__
Mayor
City Secretary
SECTION 7: The form of endorsement on the
reverse side of said Warrants shall be substantially as follows:
ENDORSEMENT
This is to certify that the Citizens' National
Bank receive d the within Warrant and interest coupon annexed
thereto from the officials of the City of Lubbock, Texas, and
for value received, hereby transfers and delivers said Warrant
and annexed coupons to bearer, without recourse, and the said
bearer is hereby subrogated to all claims, liens, rights or
titles whatsoever, at law or in equity, which are or may be
secured to him under said Warrants and the contract under which
same were issued, and the bearer is authorized to collect same
and to give fUll acquittance therefor.
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SECTION 8: Said Warrants shall be executed
and delivered to the said Citizens 1 National Bank upon completion
of the purchase of said lands by the City of Lubbock and the
delivery of a Warranty Deed by the owners to said City of Lubbock.
SECTION 9: A fund is hereby made and created
and shall be provided and set aside out of the funds derived
from taxes authorized to be levied and collected by the Con-
stitution and laws of the State of Texas and the charter of
the City of Lubbock, such funds to be designated "Advance T\vin
Engine Air Corps School V~arrant, Series 1941 Fund" which fund
shall be used for no purposes save and except to pay all interest
on and to provide the necessary sinking fund for said warrants
at their maturity, and to pay attorney's fees in case of default.
SECTION 10: That to pay the interest and to
create a sinking fund to retire said Warrants at their maturity
and to provide for 10% attorney 1 s fees in the event of default,
a tax of and at the rate of SiX & -·~ _cents ( .ot, ~) on the ONE one-!lB.lr -
HUNDRED ($100.00) DOLLAR valuation of all taxable property in
the City of Lubbock, Texas, out of the $2.50 taxing fund of said
City, is hereby levied for the current year 1941; that during
each year thereafter while any of said \~arrant~ are outs tanding
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 the City
of Lubbock, Lubbock County, Texas, will oe necessary, requisite
and sufficient to fully make, raise and produce in each of said
years the amount of principal necessary to be raised for th a t
year, plus the interest matured in said years upon the amount of
said series of warrants outstanding and unpaid and to p rovide
10% attorney's fees in case of default and for each of said
years there is hereby levied, and ordered assessed and collected
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in due time, form and manner, a tax at the rate necessary, which
shall be placed in a separate fund for this series of Warrants,
known and designated as "Advance Twin Engine Air Corps School,
Series 1941 Fund", and the City Treasurer shall not honor any
draft upon said fund or pay out any of same except for the
payment of interest on said Warrants or for retiring the same, or
for attorney's fees as provided above.
SECTION 12: NOW, the fact that the President
of the United States of America has by proclamation dated May
27th, 1941, declared an unlimited national emergency exists
requiring the strengthening of our national defenses to the
extreme limit of our national power and authority, and the fact
that the Federal Government desires to start the construction
and erection of buildings including barra cks, airplane hangers,
shops, hospital and the installation of proper equipment on
said lands by the 15th day of July, 1941, in order that said
Advance Twin Engine Air Corps School for the training of pilots
for the air corps of the United States Army may be commenced
as soon as possible, and the further fact that there exists a
state of war as well as a case of public calamity, where it
becomes necessary to act at once to appropriate money to re-
lieve the necessity of the citizens of such city, as well as
their public health, and that there is no time or necessity
to comply with the provisions of Art. 2368 A of the Revised
Civil Statutes of Texas, and amendments thereto, with respect
to notice, competitive bids or referendum, creates an emergency
and constitutes this an emergency measure requiring a suspension
of the charter provision which prohibits the final passage of
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an ordinance on the day introduced and to the end that this
ordinance may become effective immediately from and after
its passage and IT IS SO ORDERED.
PASSED and approved the 24th day of June
A. D. 1941.
ATTEST:
~?:'tUM««
City Secretary
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APPROVED as to form:
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