HomeMy WebLinkAboutOrdinance - 765-1946 - $25,000 Water Treating And Softening System Bonds - 03/19/19461
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6 I'ME STATE ag TEXAS I
7 Cotnm OF WBBOCK
8 OI'n W WDBOCE
JLRS
03-\9-19
9 OR THIS the 19th a., of l!aroh, 1946. the City oommsaal~ . ;
10 ot the City ot tubbOok, Texas, oonvened 1n Oallod sess10ll• at .
11 • the regl.l].ar .meot1J1G plaoe thereof 1n the Citr Hall, with tbe
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jltoll.O\vlnc members thereof • te-\11 t2
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~ o. w. RIBBLB •
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, 'lf. a . CIIILDRESS ~ 15 1
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J . RAY DI<XBr, I w. B. l~IOB,
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LAV'mliA WIIJ.XMJS t SEORE'.Wa' •
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!oreaant, aDd. the toll.o'tii.as abaen\a H\1~ Zones ,
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·oo.ut1tu1Wl6 a qU01'UIIl1 =•• among other pro~ had , were
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1:the tollOw!.Da•
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t the 01 tr (kvntQf.seS.on an ordinanoe outhori.sd.ng tho lssuanoe ot
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2s .ooo .oo •01n 0'8 WBBoc:nt, ~. wAHR ~AND sOI'tmmm u ;
~BONDS , SB8lES 1946• bted llaroh 1, 1946 (~ parool 14
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·-. total 18sue of 06 50 ,00o .oo bobds authorized at the ~eotlon
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27 14 1n 0814 City em Daoem.ber 11, 1945).
28 ~ or4Snuoe was read 1n tul.l br the City s oowtu'y.
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LI The.retlpOn, ccmd.sa1oner F. H. Ohildl'eas moved that th8
30 requtring that no cmttnanoo &ball be passed ·on tho 481 on
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3 1 1..,..,...v.h it is introdu.oed be OWipODde4 1 and tb.at 1n Yiew of tile
~oy set forth and 4et1ne4 in the preamble to tho propooed
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33 '"" .. , ........ ~a • t h at the SW!le be cleolared an emercenoy l408sure .
34 ,~&Wio.U motion was duly seooll4e4 by oonnsoss.oner J . Ra7 Dickey •
35 motion oarr1e4 by the tollowlna vote a
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1 AYBSa HaTer nibble and 0Ga:11aaioneftl Oh114JUS,
Diokey and Moe • .
2 BOBS t Bone.
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~. OammSaslon.er \1. D. Pd.oe mared t.ho.t tile
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oi'4J.Jumoe u rea4 in tu1l b7 th8 Oltr s~ be finally
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1 Paaaed and adopted by the OCXDZD.lsalon. This lilOUOA •s seooa4t4
10 I br count aaloner J'. a . ObJ14reoa: and the mot.ton~ oa.n1ins with
u I • it the tiDal passage 8!l4 a49J)t1on of the ora!naraoe, waa UMntmo
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oani.t4 by tbe fol1owin8 ·~-
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finally· pasoed and adoptect by unan~mous vote ot ~ Ouamisaion,
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in aooOZdanoe w1 th the requirements of seott.:ona 1', 16 aD4 1?,
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20 ~ Artiole IX, c:1t the tnbbook C.buterJ and tb8 llayor th~
21 ts!gDe4 and e.pprcwe4 tbe or41D.alloe in the prese.noe ot the Coa:miaai
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'Dle ~· 'u ea tollowa•
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the redemption thereof, and
providing tor the asses~ent and
collection or such taz; enacting provisions
incident and relating to the subject
and purpose of this ordinanoe; and
declaring an emergency."
WHEREAS, under and by virtue of an ordinance duly
passed and adopted by the City Comm1ss~on of the City of Lubbook,
Texas, on the 20th day of November, 1945, an election was ordered
to be held in said City on the 11th day of December, 1945, and at
which election the following proposition was submitted to the
qualified electors of said City:
"SH ALL the City Commission of the City of Lubbock
be authorized to issue the negotiable interest bearing
bonds or the City of Lubbock in the amount of
lSSq,ooo.oq,oearing interest at a rate of not exceed-
ing three and one-half' per centum ( 3~) per annum
from d a te a nd maturing a t such time or times as ma y
be deemed most expedient by the City Commission,
serially not later than twenty-five years f'rom their
date, for the purpose of constructing, erecting,
' installing and improving a complete water treating
and softening plant with all machinery and equipment
requisite for the operation and maintenance thereof,
and acquiring lands and rights of way within and
without the limits of the City or Lubbock requisite
for the installation and maintenance of suoh system;
and shall there be annually assessed, levied and
colle cted upon all taxable property within the City
of Lubbock, while said bonds or any of them are
outstanding, a tax sufficient in amount to pay the
annual interest on such bonds and to provide a
sinking fund for the redemption thereof at maturity'?"
.AND ¥11Th~ \EAS , up on consideration of the returns of
said election, the City Commission found that s a id election
had been conducted in the manner prescribed by law, and was in
all respects legally held, after due and proper notice as
r equired by law; that due returns of said election had bee·il
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1 made by the proper officers; that said eleotion resulted
2 i favorably to the issuance of said bonds; that a majority of the
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qualified eleotors, voting at said election, voted in favor ot
the issuance of said bonds; and that the City Commission is in
all things authorized to issue said bonds and to do any and all
things necessary and/or convenient in connection therewith; and
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8 ~nEREAS, it being now determined by the City
9 Commission that it is not desired at this time to issue all ot I 10 ~th e bonds ~or $650,000,00, voted for on the proposition, as
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11 aforesaid, and that $25, 000. 00 is the Bl!loun t of bond a now des ired
12 ~to be issued, and that the remaining amount of said bonds.
13 1 to-wit: $625,000.00 shall be issued at a future date or dates
14 ~when, in the Judgment of the City Commission of said City, the
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I amount is needed by the City for the purpose for which it was
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•/ authorized; and
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1 WHEREAS, it is to the best interest of the City ot
t9 Ji Lubbock tha t the authorized installation of a water treating and ,. 20 ~ softening plant be made at the earliest possible date, thereby
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1 creating this an emergency .measure for the immediate preservation
22 of the public peace, property, health and safety, as well as a
23 more efficient administration and operation of the Water
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25 l Department of the municipal government; therefore
BE IT ORD ,,mED BY THE CITY CO "MISSION OF THE CI'l'!'
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OF LUBBOCK:
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SECTION 1: That the bonds of said City, to be
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ll called "CITY OF LUBBOCK, TEXAS, WATER TREATING AND SOFTENING
29 ~ j SYSTEM BONDS, SERIES 1946", be issued under and by virtue of the
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j Constitution and laws of the State ot Texas, and the Charter ot
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1 the City, for the purpose of constructing, erecting, installing
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33 ' and improving a complete water treating and softening plant with
~~all machinery and equipment requisite for the operation and
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35 I maintenance thereof,and acquiring lands and rights of way within
36 and without the limits of the City of Lubbock requisite for the
37 installation and maintenance or such system; in the principal
Pace No.·········-·-~······
1 sum of TWENTY-F IVE THOUSAND DO'U.ARS ( $25,000.00) •
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S J~CTION 2: That said bonds shall be numbered
4 consecutively from One (1) to Twenty-five (25), both inclusive;
5 shall be of the deaominat i on of One Thousand Dollars($1,000.00)
6 each, aggregating the sum of TWENTY-FIVE THOUSAND DOLLAR S
7 ( $25, 000.00).
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9 S~CTION 3: That said bonds shall be dated
10 I March 1> 1946, and shall mature in accordance with the following
11 I sche dule:
12 B OND NUMBERS MATURITY DATES AMOUNTS
I ( All Inc 1usi ve} 13 ;
14 11 1 March 1,1947 $ 1,000.00 ·I 2 March 1,1948 1,000.00
15 t! 3 March 1,1949 1,000.00
II 4 March 1,1950 1,000.00 I
1(,1 5 March 1, l'a51 1,000.00
I 6 March 1,1952 1,000 .0 0
17 1 '} March 1, 1953 1,000 .00
8 March 1,1954 1,000.00
18 ! 9 March 1,1955 1,000.00
I' 10 March 1,1956 1,000.00 j\
19 ji ll March 1,1957 1,000.00
12 March 1,. 9 58 1, 000 .00
20 I 13 March 1,1959 1,000.00
I 14 March 1,1960 1,000.00
21 1 15 March l, 1961 1,000.00
i~ March l, 1962 1,000.00
22 March 1,1963 1,000.00
18 March 1,1964 1,000.00
23 I 19 March 1,1965-1,000.00
I 20 March 1,1966 1,00 0.00
24 1 21 March 1,1967 1,000.00
I 22 Ma rch 1,19 88 1,000.00
25 23 March 1,1989 1,000.00
24 Ma rch 1,1970 1,000.00
26 25 Maroh l, 19?1 1,000.00
27 .1 SECTION 4: ~ '!'ha t all of said bonds shall bear inter-
28 11 est from date until paid at the rate of ONE AND ONE-HALF PER
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CENTUM J li%) per annum, p a yable on March 1st and September lst
in each year, the fi r st idBrest payment date being March l, 1947;
such interest to be evidenced by proper coupons attached to each
of said bonds.
SECTION 5: That the principal and interest of said
series of bonds shall be payable on presentation and surrender of
36 ' bonds or proper coupons, in lawful money of the United States of
37 America, at the GUAR.L'.JITY TRUST COMP ANY OF NEVI Y~~o~~5!_~~
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1 CITY, NEW YORK.
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SECTION 6: That each of said bonds shall be signed by
4 the Mayor and countersigned by the City Secretary, and the
5 corporate seal of the "CITY OF LUBBOCK,T EY~S", shall be impressed
6 1upon each of them.
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7 SECTIO~ 7: That the facsimile signature of the
8 Mayor and City Secretary may be lithographed or printed on the
9 interest coupons attached to said bonds, a nd shall have the same
10 effect as if they had been signed by them.
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12 J1 SECTION 8: That the form of said bonds shall be
n l'lsubstantially as follows:
14 ~0. UNITED S"rATES OF AMERICA, $1,000.00
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STATE OF TEXAS,
COUNTY OF LUBBOCK.
CITY OF LUBBOCK, TEXAS, WATER TREATING
RND SOFTEN'ING SYSTEM BOND,~
SERIES 1946 .
21 1 OITY OF LUBBOCK, a municipal corporation, of the State
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22 f Texas, acknowledges itself indebted to and, FOR VALUE REC EIV:ED,
23 ereby promises ~o pay to bearer, the sum of
24• ONE THOUS~~ DOLLARS
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$1,000.00}, in lawful money of the United States of ~erioa, on
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be FiltST DAY OF MARCH, 19 ____ , '"'i th intere st thereon from
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n eaoh year, the first interest payment date being Maroh l, 1947,
30 bn presentation and surrender of the annexed coupons as they
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everally mature.
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1 331 BOTH PR DICIPAL and interest of this bond are hereby made
34 ayable at the GUARANTY TRUST COMPANY OF NNN YORK, NEW YORK CITY,
35 E/1 YORK.
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1 THIS BOND is one of a series of Twenty-five serial bonds,
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,umbered :from One ( 1) to Twenty-five ( 25), both i~j,y_~---···-e···
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1 aU or so14 bo.D4a be~ at the donanS nation ot one Th~aid . . , •
2 Dollu's ($1 ,000.00), 8f3Sl"GPt1118 ln. amount. 'l'Wluttn-nvE !m:OUBAND . . .
3 DOLLARS (025.,000.00) • and 1Saue4 tcir the p~ose of oo.nst.ruot!Dg, .
5 sottanlns plaD1i with au maob.inery-an4 equipment requis1-te .
6 the opera1;1on and JUint~oe thaN'Qf , and aoquJ.J:ins lan48 eD4
1 ri(dl.te of wa, ld,thin 8D4 -wl thou~ ·the ll&dta of the Olty or
s Lubbock nQ.Ulal te ~or tbe t.notallation ·8D4 ll!li1ntena.ne8 ot suoh
9 system1 UDder auth.or11Sy ~ the const11;utlon 8Dil taws of the
10 state of Teus~ and the Ohano~ ot aaut Clt7~ ADA pUI'S-to
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n an o~~eoe 4\ll.J" adopted by the City 0C)Il'I!Slsalon o~ ·the City'
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12 of LubbOck, Texas, eo.u1 reoo~ad 1n the Min.iites ot said City
13 : 00DDIBa14)ll ,
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IT lB HSREBf CER'n:FDD• tmOMD Aim ItEHmSEWi'BD t!sa\ the
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J.ssuence ~ thla bond an4 the serioa of ttdcm it la a part lS 16 1
dUly autbodaecl .by law im4 by a vote ot the qualJ.tied p~o~
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18 taxpQ'inS 'VOto%'8 ~ the Cit7 of Lubbock, Texas, v~ at fiD.-.
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19 !eleot1on hei4 fOil tbat purpose "1thill sud City on the llth 4ay . . .
20 I td Deoember , ·1945l tlu\t ~ acts, ooJidiUons,. and t~to&s rcJqUlnd
2 , I to b8 . ~-peoedant to . aDA 1n the iss1Wl08 flt this series qt
22 bon4a 1 an4 ot this bond 1 have lieen p:Jtoperly done end perto=-4
23 and have happono4 in ~ and 4118 Ume • fOJm en4 l'D&Mer as
24 roqtUftd br lawl ~' autt1o1e.nt ana ,proper pHV1810Jl to:r the
25 !levy and ooU.oU.cm. of taxes has been made ~oh: •u oo11eote4:
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26 shall ,. app~opr.late4 axolustvely ·to the pQma.t1t ot this bonA.
21 lad the aerie& Of ittiloh r it 18··· ~: an4' t.o tho p~t .ot the
2s !utereat ooupons ~enw annexed aa the same ahall beoame 4U.eJ
29 18114 that _ the ~1 bi4ebtedllell8 ot tb8 <:11;1 ·or tubbooll; ~~
30 jinCludl.ng the en't;.l.re se1'1es ot b()nds Qf \llhiGh tM.a i8 ou, aoaa
3t ·l not .xceea. 81'13'' oonstitu~on81. c».-otatuton lim.ltatlon.
32 :m '5S1Jlf0Nl" l'illBREOF, tho City ot Lttbbook, Texas, by
33 1 · its o.tty oaam1aa1on, has onuaed 1to oorpoato seal to be atftacl
34 !.hewto: an4 thJ.a bon4 to be signed by 1ts M&J'Ot-and oounterai{Jl84
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lb7 ita City seorotl17, end the s.ntuea' aoupons hereto a\taoba4
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.I to be exeQuteA by 'the lith~ tn' printed taost.mlle
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Page No.··?"':········-·-
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1 signatures of the Mayor .and City Secretary; the date of this
2 bond. 1n conformity with the ordinance above referred to. being
3 the first day of Maroh, 1946.
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.Mayor, of Lubbock, Texas
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COUNTERSIGN ED:
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1o \ City Secreta ry, City of LubbOCK
Texas
SECTION 9: That the form of interest coupon shall be
substantially as follows:
NO. ___ _
17 The CITY OF LUBBOCK, a municipal corpor~tion ot the state of
18 1 Texas, hereby promises to pay to bearer, at the GUARANTY TRUST
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!lOMP ANY OF NEW YORK. NEW YORK CITY, NN!l YORK, the sum of
... -DOLLARS
II 2d ( $ ____ ) • in lawful money of the United States of America.
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being __ months' interest on the "CITY OF LUBBOCK, TEXAS,
WATER TREATING AND SOFTENING SYSTEM BOND,: SER.I ES 1946" • dated
24 March 1, 1946.
25 Bond No. ------
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City Secretary
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Mayor ..
29 SECTION 10: That the following certificate shall be
30 j printed on the back of each bond:
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3t ! OFFICE OF COMPTROLLER I
32 j . ST :ATE OF TEXAS f REGISTER NO. __________ __
33 I !U~REBY CERTIFY '.Chat there is on i'ile and of record
~ in my office a certificate of the Attorney General of the State
35 of Texas, to the effect that this bond has been exam1ned .by him
36 i as req uired by law and that he finds that it has been issued in
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3 7 ' conformity with the Constitution and lAws of the State of Texas,
P-.re No. ·----e·······--···
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1 and that it is a valid and binding obligation upon said City
2 of Lubbock, Texas, and said bond has this day been registered
3 by me.
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WI TNSSS MY HAND AND SEAL OF OFF I CE , AT AUSTIN t TEXAS ,
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Comptroller of Public Accounts
of the State of Texas.
SECTION 11: BE IT FURTHER ORDAINED BY THE CITY OF
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I LUBBOCK:
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12 i That to pay the interest on said bonds and create a
13 !' ~inking fund sufficient to redeem them at maturity t a tax ot
14 ~ k.-:zf:t.& ~ tO-n-<---CEN'l'S ( .oc/, ~) on each
15 1J one hundred dollars' valuation of all taxable property in the
16, City of Lubbock, Texas, or such an amount as may at all times
I "II be legally necessary, shall be annually levied on said property
18 1 a nd annua lly assessed and collected, or so much thereof as · shall
l9 \\be necessary, or in addition thereto as may be required, until
20 1said bonds with interest thereon have be en fully paid; and the
21 I said tax of k~ ~~ CEN'l'S ( ''"''I!') is here now levied
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for the current year, and so muoh thereof as s hall be necessary,
or in addition thereto as may be re quired, is hereby levied for
each succeeding year while said bon ds , o r any of the~, are
outstanding, and the same shall be annua lly asses sed a nd collected
and applied to the purpose named.
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28 1! SECTION 12: BE IT 1 URTHER ORDAINED BY THE CITY OF
29 1LUBBOCK:
~1 That the Mayor of said City shall be and he is hereby
31 !authorized to take and have charge of all necessary orders and
32 1reoords pending investigation by the Attorney General of the
33 State of Texas, and shall take and have charge and control ot
~ the bonds herein authorized pending their approval by the
35 Attorney General and their registration by the Comptroller of
36 Public .Accounts.
' 37 I SECTI ON 13:
LUBBOCK:
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.AND BE IT FURTHE R ORDAINED BY THE CITY OF
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1 . The tact that it is to the best interest of the City
2 that the authorized installation of a water treating and
3 softening plant be made at the earliest possible date, or ates
4 this an emergency measure for the immediate preservation of the
5 public peace, property, health and safety, as well as a more
6 efficient administration and operation of the Water Department
7 ot the municipal g overnment, demanding that the Charter
s provisions to the effect that no ordinance shall be passed on the
9 day on which it shall be introduced, be suspended, and this
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10 ordinan c e is h e reby declared an emergency measure by unanLmous
11 j vote of the City Commission, and the same shall take etfec, trom
1\ and after its passage, and it is so ordained.
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::I PASSID. this the day of March, 1946.
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APPROVED, this the ~ day of Ma r dh, 1946.
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Mayor, City or Lubbock, Texas.
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2 2 ATTEST :
City Se cre t a ry , City of Lubbock,Texas
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(City Sea l )
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