HomeMy WebLinkAboutOrdinance - 760-1946 - Issuance Of $300,000 Public Building Auditorium Coliseum Bond - 03/19/1946I
I
'.m11 ar:A~ QJt 'J!RXAQ I
oOW!'f ar um.aOCE
Ql'1T 0!1 tmmofE '
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on '.i.m8 t~JB 19tm day~ UnrOh, 194&, tb& ·1tr .
ccanteato.n ot ttiO City at Lubb001:1 ~e:uus• oorwGD.acl 1a
oaUe4 OGSOion. a~ thQ ro~ aoo~ ~ tho~
• •
111 tb8 C1W' lt4Ul,, ~th the tOn~~ thoroot, tcM-4.ts
..
o. w. RXImlB,
•. a. onxxtx;mSs •
J • ·at« DlOQ!', tt.. a. ruon.
r.amtiA ll~~ •
#
~. GQ4 tb8 toll~ eb801lt$ .. , ~--~~~~~;-...;..~•
I ;
oonotltal.,. e quo:IIQb, WhCft, ~ othor »JOOOICU.nSS hod~
ComtlladoDer J1 • n,. Ob.l.14reat Pl'OSU.Iltod tor tat
oo.aQ14QaUon dl the 01 tt O~skn en o~11itin0o aattt.or-
'lho:rGupMf comm1aD1auor w, n . Pr.S.oo ~ tb.ot tbo
l'U1e r q~ tba~ no oidiDanoo ehnl.l be ~DOd on the 4a.F ,
on Wb!Ob l' 1a ln1li04Uoo4 bO tn.a)~Gd• tUM:l tbe~ 1n 'flw ot thl
E&rSDllOJ s.t fQ$ and detillQ4. 1n the ~10 to. thfl ~eel .
(
~. t.bat tho amne be 4to1Uod an ~ ma~A~N .
1'h1G ~ion wae 4t47 MOOI14ed .. tiJ' CCI!lm18rl10he~ :-. R!l1: Dlckt~:•·
'1lle motion aamea b.y the toU~ wtot
•
l%Bas Uator-R!bblQ tUld: Ooetl~s ~~Ollelr$ Chilib:oou,.
1)10f:~Y U4 l'd.OO .-
DOBSt llOU ··'
Dr.cu:ttll}on_. tbo U.,<Jr onnounoOc't tbat ttit p~Od
ol!'A!DMoo hA4 been 4G01tu.'ed nn ~~a.or ~ bJ UJUmSanus
vo• ot tho CCI!a!sni~
~ro~. C oti~n1801~~ v.. u. Ob1.14roDa t4t'IYG4 thilt
the ar41nGDOe cui ~eao. ln tull b7 the C1tz SGOl'O~ bO tlnallr
paooed u4 QOOpW bt tho Ccl=l1sidon. arh1s flio\lcm wu aeoon4G4
~ ,
ti,: OOlfl!\l8dOAQ if• B• ~, &114 the aotlon1 ~1Da ·with it
* tllull »&P88BO • a40,PUon of tilt Qdtzileoe • mw UUJl~
ouw oam,,a, .,, tho toJ.I.oW1t:iC vole •
•
AYBUl · ngyor ttlbb 1o tuut OCVJI!I' aoto~ CM.Dnmt•
D!dcet end l'rlt••
naoo• ~
Tbarqa, th• l.la10JI aDDOWIOeid tho~ tbe OrM.tiatJDe
M4 bOen t!nal4' pa1Je4 and o4opto4 bT ~ voto o: the .
O<X!IdsJJ!on• b aoooraaaoo uttb tbO r ~to ot BootlODD . . .
15• 16 am\ l?t ot Al'tlOle lX• ot tho lAibbc>ot m.rtOrt anA tb.O
HaJ"OJ:t theJGuptJA ~ anA ll,P~i1 tllO ~~ 1n the . .
1c,ereat oou)One J leTJlDI • oo11tlau.lq Une'
annual a4 nlor ea tax oa aU tazal»le proper•1••
•1th1a the 11alt• ot aa14 Ci1tr to pay tbe inter-
eat oa euob boade aDd to oreate a a1AkiDC ~
tor the rHIIIlJtloD thueot 1 an4 pron41q fer
the •••••.-ent aa4 oolleotloa ot euoh taza
eaaot1ns prof1•1on• 1ao14ent aa4 ••latins to
the eubJe4t aDA P~JO•• of thle ordlnanoe& and
4eolar1D& an emer .. aoy .•
mmRJA.S , uter aA4 _,,. virtu. ot a.a oN1D&Aoe _ 4ul.J'
paae •4 aA4 adopted -7 the CltJ Coma1••loa of the CltJ of Lub-
book, Texa•• on the 20'l d&J ot NoY .. ber, 194,, an eleotlon
wae or4en4 to l»e he14 ill 1&14 01ty on the 11th eta, ot De ... be,
194,, aD4 at wblob. eleotlon the :toUowias l).f'o:poe1t1oa •• eul»-
alt,ed to the qual1t1e4 tleo~• ot aa14 Ci\71
•OSALL ~• 01'7 Goamiaalon of the Cltr ot
LUbook be author1ae4 to 1•••e ~e aecotlable inter••'
b .. l'ln& oou.pon bon4e ot aa14 City ln 8Jl aaout ot
$1,7,0,000.00, boar1ua 1nt.reat at a rate of no' exoee4-
1q three and one•ha;lf Jet' oentwu (li~) per &JU1Uil troa
ute ara4 Mtunns ., suoh tlme o~ Uaee as =*7 be 4•ue4
aoa' eape41ec~ bJ the Clt7 Oo.a1ea1oc, eerially ~ot later
thaA tweaty•f1Te reare troa their 4&te, to~ the purpo••
ot the ooDStruo,loD, er.otlon aD4 eQulpeent of a publ1•
~ulldlog and au41\or1wa t• be U.0\1n •• the Lubbook
Au41toriua-Ool.1eeu, and purohea1q a site theretoztl aD4
shall the re be annually aaaeaee4, leY1e4 aDA oolleoted
upon all taxa,le prope~r wlth1D the Oity of t~b~ook
a tax eutt1o1ent in amout to pay the augal ln~ereet
ora suoh boll4• an4 to pron4e a einldq tun4 tor the
reclaptlon thereof •' 11atvl tJ?"
AND WH.lr:HU.S, upon ooAa14erat10il ot the re\una ot
aa14 eleotloa, the 01~1 Coma1••1on toua4 \~t ea14 eleetioa
ha4 )een oon4v.ote4 I.A the ~~a.uR preambe4 br la•• an4 ••• ln
a ll reepeote legally hel4, after 4ue and proper notloe •• ~•-
qull'el ,7 laws that 4ue !'eturna ot aald eleot1ou ha4 "••a a4e
b7 the proper otttoeraJ that ea14 election reeulte4 taYorably
to tbe l•e~n~e ot ea14 ~oad•l ~at a aaJo~1ty Qt the qual1t1t4
el.•••••• YO'lq •• aa14 eleot1oa, •ote4 in taYor ot the 111\P
anoe of ea14 boD111 and that the Cit7 Comaieelon 11 la all
thlq1 euthor1ze4 \o J.seue ea14 'boD4a ena to do aay a.Jld au
th1D&e uo••••rJ aD4/or ooAnaleat 1a oonneotlon thernlthJ aDd
~As , it ~•lac now 4eter.a!De4 by the 01tJ Coa.de-
eioD tba' 1' 1• aot 4ee1re4 at th1a U. to 1eeue all ot the
boD41 tor t l,?,o,ooo.oo, Toted tor on \he propoa1tion, •• atore-
aa14, and ~tm Joo,ooo •. oo le the amount ot boD4a nO. 4eeae4 to
be 1aaue4, &ll4 ·that the r.-tains amount ot ea14 boats, to-wlt a
t l,4,0,000.oo, ~hall be 1e•ue4 at a future 4ate or 4atee when,
1n the ~U4cment ot the 01~1 Commission ot sa14 City, the amount
it nee4e4 by the .C1t7 tor ~be purpo•e tor wh1oh 1t was author-
latta acA
WB£RIA8, 1t te· to the beet .lnter.eet ot ~he 01ty that
the 8614 Publ1o Bu1141AI Au41to~1um•Co11a.oa be ereote4 aDI
equ1Jpe4 a\ tbe .arlleet poe•l'l• 4ate, ~.reby orea\1na ~le
an .. rceuy aeaeure tor the 1•e41•t• preeenatloa of the
publlo peaoe, propertJ, health aa4 safety, ae well ae • ao~•
ert1o1ent a4•1o1at.a,1on aa4 operat1on ot the Publ1o Propertr
Department Of the muD1o1pal ,oYern.eat; therefore
9 IT ORDAINim BT '1'D CITY c:Omrt!I SION OF TrW CITY
0'1 LtmBOCKt
flECTION ll Tha\ ihe boa4a ot .. 14 01. '', to be
oalle4 "OIW 0., Ltml.JOOt, UXA.S , PUSLIO BVILDING A.UD ITORltJM•
I
UOI.l8ttlti nom>s , SBRIES 1946•, be issued uader aa4 by •u'ue ot
Ue CozsetltutloD enct lawa ot \he State ot Te xas, an4 tbe c~'er
Of the 01t7• tor the purpoae Of ·the COD-'rUOtiOD, ereOt1on &D4
e qulpea' ot a publlo w1l41q ana awl1 torle to be knowa ••
the Lubbook AG41torl~ol1ae~ aDd p~ebaalna a ei\1 there-
·.
•
tor, 1A tile pr1no1pal eu ot Tm.U~E BtmDRXD THOUSA.Im DGLI.lBS
( )00,000.00).
BJCflON 2t That aaid boD4e ehell be Dum'bel'ect OOA•
eeou~1vely troa One (1) to Tb:'ee Rundre4 ()00), both 1nol'181ftl
shall be ot the 4e~mat1on or One Thou•aD4 Doll~~• (01,000.00)
eaeh, 81C1'q& •inc 'he 1W1 ot Til.i\BB BUliDRID 'l'ROUSAHD DOl.JARS
(t)OO,OOO.OO).
SEU'fiON l1 f!'hat aa14 bota41 aball be 4ate4 Jfuoh 1,
· 191.6, and eball matue 1D aooordanoe with the followlll& ••he4ulea
BOlD JIUMBmts
(Al\ lrtOlUtl Ye)
1 to 9
10 to 19
10 to 29
)0 to )9
40 to 49
jO Co '9 ~& '0 70 71 to 81
82 to '~ 9) to lOl
104 to 114
llJ \o 126
127 to 1)8
1)9 to 1'0
lJl to 162
16) to 17'
176 to 188
189 to 201
202 to 214
21S to 228
229 to 242
·24) to 2S6
257 to 270
271 to 281
286 to )00
MATtmi'l'T IlATES
Maroh 1, 1t47
.Uaroh 1, 19~8
llarob 1, 1949
lfa roh 1, 19'0
llsroh 1, 19'1
t.!aroh 1,. 19S2
Ua rOh 1, 19')
ila~oh 1, 19~4
Uarob 1, 1955
Marob 1, 19S6
!4ar oh 1, 1957
Uaroh 1, 1958
Uaroh 1, 1959
Uarob 1, 1960
Ya ~oh 1, 1961
!larch 1, 1962
Maroh 1 1 196)
){a~eh 1, 1961t
Varoh 1, 196J
Ue roh 1. 1966
Ma~ob 1, 1967
Jla »oh 1, 1968
!.~arch 1, 1969
Karch 1, 1970
t.!e roh 1, 19?1
,O'O!fl'S
t g,ooo.oo
10,000.00
10,000.00
10,000.00 l.o,ooo.oo
10,000.00 u,ooo.oo
11,000.00
11,000.00
11,000 .00
11,000 .00
12,0 00.00
12,000.00
12,000.00
12,000.00
1),000 ,00
1),000.00
1),000.00
1),000.00
14,000.00
14,000.00
14,000 .00
llt,OOO.OO
15,000.00
lJ,OOO.OO
§!C!lOtt ~! Tha\ all ot ae14 boDde ehall bear ln\~
eal troa 4a\e Wll11 pa14 •' the nte ot 0~ AND ORI•HA.Lf PBB
Ctnmt (li*) ps~ &lUlU. pare\lle .on Ha ~oh lat and Septeue le\
u eaoh year , the t1rn lnter est pa7Mnt ·date 'belzw t.!a roh 1,
1941J ~oh latere~t 'o be ev14enoe4 'Y p~op•r oouvo~ attaobe4
to eaeh ot e a 14 bon4a.
, .
I
SEfflOH Jt Tha\ the pr1ne1pal all4 1ntereet of eai4
bol'l4a ehall lte paJ&'ble on preaentetlon al14 ~ell4el' of bon«•
or Pl'OJHU• eoupona , ln lawful aon• ot the Un1te4 Siatea ··ot
Ame~1oa, a' the OUA.i:Wtft T.RUST OOU P.wt OP JIBW TOBit, RlU1 Y<>afC
CITY, UW YG-rut .
!]l':CTION 6t That eaoh ot aaid bond• ehall be elp-.t
b7 the l!aJOI' ana oounte .. e18DM b7 the City s eoretarr, and the
OOl'Jorate ••1 ot the "CITY or tUBli!oa , Tll'.As•, ehall be ls-
»•••••4 upon efteh of th ...
SECTIOB 7s That the teoelmile algDaturea of th•
-.yol' an4 01~1 Seoretarr mar be 11tho&r&Jhe4 or printed on the
1ntereet ooupqne at~aohe4 ~o sa14 bonds, end shall have the
.... etteo' aa it th•J ha4 been a1gaa4 b7 thea.
SSOTIOIJ a 1 Tlla' the toa ot ea14 boau I hall_ 'be
aublkDtiallJ •• tollowaa
ao . __ V&XTBD STA TE3 OJ' A\WUOA,
S~ TE 01 !BIAS,
COURT! 01' LUBBOCK.
CI'l'Y or LUBBOCK, 'l'SIAS , PO'BLIC
BOILDI!JG J.UDINRIWI..COLISBUM
BOli1D, SERII8 1946.
•~ooo.oo
CITY or 1\JJOOC.lt.. a au1 o1pe.l oorpora t-1oa, ot ~M
S\ate ot Teaae, aoknowle«e•• 1•••lt la4eb,e4 \o and, roR VAtO!
RZOiiV.iD , herebJ promieea to paf to '•rer, the eWil ot
ONE TSOU GA.ND ll0LLA.1\S
( 1 1 000.00), in lawt\11 money of the t1rd.te4 s tate• of Amer1oa ,
oc the JIRS'J' f>AY 01' t~a aa, 19 , w1 th ln,eree"t 'hereon trom
the date bereot until pa14, at the ra\e ot ONE AttD OD·SA.Lr l-""ER
CBN1'01.&' (li-) per UD1111, peJ8ble en Mareh let an4 Sep•-'•r la\
lc eaoh ,_ar, the firs' interest pa,_.n\ date belas Maroh 1,
1947, ob preeenta,lon and aur~endar of the annexed ooupons ae
they eeTe n117 Mture.
SOTS .PKtNOI PAL aDd 1a,ereat of th1a DOD4 are b.erebJ
1Dilde PQ'&ble a.\ the QUA$1M 'l'UU ST CWP.ABY 07 NEW YORK.• fiW
YORK OITY', J-.~;1 YORA .
m s UOND ls one ot a aerie a ot Three nunu.a ( )OO)
ees-1a 1 bo~•• alabue4 fZ'oa Ou (1) to Three Hun4re4 (300),
bo•h l.nolualft, au of aa14 boat• '•lac ot the 4eJioaS.u.t1oo ot
ou 'lbouad Do llar• (t l,OOO.OO), •ss regatlq in u.out l'BRD
JIUNDruJD THOUSAND DOI.t.ABS ($JOO,OOO.OO), an4 'lew ... tor the PU•
pose of th• oont•aatloa, ereot1on and equipment ot a p~blio
bu1141ns aad a\&41 tor1um to be known •• the Lubboot Aut1 tort-. ..
Oo11•eum, and purohaalng a elte therefor, und•~ au$hor1 t7 ot
th• Constitution an4 LKwa of the Stat• of Texaa, and the
Oba a-te.r ot aa14 01 t7 • an4 pvauant to •n or41.unoe duly adOJM4
b7 the 01'-J Oo.al.aaloJl of the Oity of tubbook, Texae , aDd r ...
tor&ed 111 tbe M1Autee ot aa14 Olt7 Oomm!aelon.
IT I S HEtlliiBY CltRrl'IF IID, .lllOI"l'ED AlfD R1UtUdlnD that
the lenanoe ot thia bond and. the e u1ea ot wid oh 1 t 1a a part
11 4"17 a\l\hor1ze4 by law u4 bJ a Yote ot the quaUt1 e4 Pl'OP-
•r•y ••zpayJ.ns ~tel'• ot th• 01•1 ot Lu'bbook , Texas , voUq at
an eleo,loa hel4 tor that purpose w1tb1n said 01'Y on the ll'h
«at ot Deo•mb ar , 19•5' that all aota, oon41tlon•, aD4 \h1nsa
requlre4 'o '-4oae preoe4ent to and in the 1•auanee ot thla
eerlea of bonda, a ni ot tb1• bon4 , haYe been properlJ 4oae &D4
performed •nd have happ-.ne4. 111 reav.lar an4 due tl••• ton &DI
mauer a e roqul~.t bJ law; tb.a t autt1o1ent and proper pro'fia1on
tor the l e v, a nd collection ot taxee h a e boea ma4e whloh, When
ooll•o~e4, ahall be appropr1at.C exolueiv.ly to the pa,ment of
th1a boD4 &Ad the 1er1ea of wbloh it 18 a part, n nd \0 the paJ'•
a.nt ot th• lnter•at ooupona thereto anne~ed a a the aaae ahall
~eoome 4u•J and thet the to\al 1n4ebtt4n••• ot th• CitJ of
Lubbo•k, f .xae, 1Dolud1AI the entire ••~lea of bonde of whltb
th1a 1a one. 4oea AO' esoee4 •nr couat1t~•1oual o~ a\atu\o~J
11m1 ta t1on.
l ll ~'BSTDIOHY m~BRBOJ , the 01 ty of Lu.bbook, Teae, by
ita 01ty Comalaeloa, baa oa uee4 1ta oorponM ... 1. to be att1ze4
here~, aM 1ih1a bon4 to be e1gneel b7 1\e Uayor and oountel"alpe4
bJ 1•• Cltr a eoret a r,", u4 the 1nt•~••t eo\l:pona hertto attau•4
to be ·~•outed b7 the l1thoaraphe4 or pr1n,e4 tao s imile eigna\urea
ot the Wayor aa4 0 1 ty s eore\ai'J'I the ctate of th1e bon4 , 1D. ooa-
tormitr wlth t he or41aanoe abow. referred to, being the t1rat o•r
ot Jlaroh, 1946 .
taxaa.
/1
Vayor,
Cltr Seoretiiy, lltr ot Lubltook, fuaa •
S!C'ttO!I 21 That the ton of interest owpon shall
-· eubetantlaU7 •• tollqwea
rto. __ . ON TR£ ---OAT 07 -----19 __ ,
•~ CITY 07 tuDBOOt, • m~o1pal oorporatloA of the State ot
Texao , here~,. prosiaea -., paJ to bearer, at tl:lt CKtiiPTr 1la'O ST
OOMPAllt O'f UiY YORK• treW YOU CI1'1', N!v'l YORK, th• ewa ot
-... ---Dow~ . .;s
(t ) , i.e lawfUl Jttone,. of the Urdted Statee ot Amerloa,
btiD& montha • inte:teet on the "01T'! OF LU BOO ot, TIXAa,
VaJOoh 1, 1946 . BQA4 Ho. __ •
iltqor
BEC?IOH lOJ 1'ha' 'h• follow1Jle oertltioate shall
b• ••1n'e4 oa th• baot ot eaoh ~on4•
• o•n os o'f c oUPTRO Lttm I
STATE or '»BXAO
RIGI S't!a 0. __
I HE~EBY CERTIFY tbat thero 1a on tlle and ot ~eoor4
1o ,q ottioe • owt1t'-.at.e of the .ltt~net General ot th.e State
ot !•~•• \o tht etteot tbat 'hia bond has been examint4 by h~
•• n-.111~t4 b7 law an4 that he t1n4a ,h,.t 1 t b$a been ieeuet 1n
eontohd.'J with the Oooetltu.\S.oa e.n4 law• of tht S tate of Teue ,
aA4 that L~ 1• a Y&ll4 aDd b1D41ns o'ligatlon upon aa14 Cl\7 of
L~bbou , 'reae , aDd aa14 \cad ba1 th11 4a7 'hen re6J,.ater~ bJ me .
. .
cosaptl'oner ot MUo Aooowa.'•
ot the State ot Texae.
§J CTJ:OI 11! BE IT FURTBER ORDAXHSD BT THE CITY'
0011111 SSI ON 0!' THE aiTY OJ LUBSO OK a
That to pe.f t he 1ntereat 011 said bo.n 4e an4 orA~
a si~ng fund a~tle1ent to redeem them at matur1~y, a tax of
Fiv e and Eight -tenths CX.t'TS ( 5 8/10 ,1 ) oA eaoh
one h~e4 doll&ra' valuat1o~ ot al1 .tazable property in the
City ot Lubbook, Teua, or eu.oh an amoet a s may at aU .till.ea
be lepllJ Aeoeaeary, aball be auuaUy lened on. ea14 proper,,.
and amuaallf aaeeeae4 aD4 oolleoted, or eo muoh thereof aa eh&U
be ••••••~'1• OJJ' in e.4d1,1on th•H\o ae may be req \&U~, uat1l
•14 boal• wl'h 1n'•~'••• •tlueon ba" 'been t ullJ pal4a and 'h•
a&14 tax ot Five and eight-tenths c NlS ( 5 8/10 -)
1• here aow leT1e4 tor the ourren' fear, a nd &Q muoh thereof aa
ehall be neo•eeary, or in a4d1t1on thereto aa may bt r~qu1r.e4,
1e hereby leY1e4 tar eaoh a•ooet41US y.ar whi l e •814 bond at or
BllJ' o~ thea. are outetan41DC1 a n4 the aame ahall be amu.aally
•••••••4 and oolleoted an~ applle4 to the purpose ~~.
S,:::C!'IOB 1?. t 1m IT :runT n. ORPA !NED 8!' TRi OITY
001-aiiBSI OJl OJ 'fffil CITY OJ' LUBP.OOK t
That ~be MaJOr ot ea14 OltJ shall be a n4 he 1e herebr
•••ho~iaed to take a n4 baYe onarse of all neoeeaa rr ordere aa4
reoo~e pen41ns 1nvest1 ~tlon b7 the A ~t oraey General ot the
:State ot ~e:a.a, and ehall \ake and .hkYe ohu a• an4 oontrol ot
the b&nd1 herein autho•1••4 pea41q \heir approftl by the AttoJPaeJ"
General a ad the1r recia tratlon b7 •n• o~,trolle~ ot Publlo Ac oouata.
SEC:TIOB lJs A.JID .BE IT J'O'rtTaER ORDAINE D Bf 'l"a8 CI'l'T
COWISS1 0N _..~ Tftl Clfi 01' LUB'Sf?Clt 1
The taot that it ie to the beet 1n'•~•at of the 01ty
t.het the eale Publ1o Bu1141ns Aua ltorl~Oollee~ be e»ee•ed and
e Qu1ppe4 et the &arllett poealble 4a'•• oreatea this an ·~·~a•o•T
ae&e\1J'e for the 1•e4J.a•e ~88el"ft~OD ot 'he l)Ublle pMGet
I '
proper,,, boaltb and eetetJ, •• well aa a more ettlo1•at
a4m1nie,ra\1oa aa4 opera,lon ot tbe 2 Qbllo P~operty Departmea\
ot the mwd.elpal aoYer ... at, 4._n41q that tho Cha~tu .PJ'O-
Y1e1o .. to the etteot ths' ao or41nanoe shall be paaae4 on \he
day on whloh 1t aball be 1n,roduoe4, be auspen4e4 , aDd th1e
o.rdinuoe 1a h•reby deola"*' aa emP"&eaoy aeaaure 1t1 u.aAlmoae
Yote ot ~he 01tJ Co.miea1oa, aDd the aame shall take erteet
troa aa4 after its ~aeaaae, a~ it 1e so ordained.
19th
APPRO_V£0 , th11 the :oo-1_9_t h--,· da 1 of tfefoh, 1 ~46.
ol\y seore\irr, Cl\7 ot tuSSooi, fezae.