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HomeMy WebLinkAboutOrdinance - 823-1947 - Issuance Of Bonds $51,000 For Street Lighting - 07/14/1947till STAtS 01 DDS COUBI'I c. LUBJJOCI am~ .-lOCI 94~ 07-/4-JSJ-1-7- 011 tJD:81 til. 14th-C NJ:¥1 '194,_. tbl Cltf' ..._. • ._ ot the Ci- f/11 t.eltoekt , .... 'tiDftlllb ~alled ......_a\ u.1 ~ ._. ... .. tt...r Sa tbe Clt, ltdl, td.tb .. tall ......... W.B.Price -..., Pro Tempore F.H.Childress J.Ray Dickey John Spikes Comm i ssioner s Lavenia Williams lecnta7 • ........ t1114 b f0111WJJtC ......... ~--Ma....,y,.or......_.f .... •.,.A.o. •• Be._s .. t..,.w_.i_ck_ ...... -....._....,-..;...-., ...Utut.llw a ..... .-, _, .U.. s:c••••M• W, ._.. ta. toU..s.aw• c.d.S._. F. H. Childress JW•••W tw V. ......... att. et 'till CStT C Jill• • dJt~· .............. tJae 11• n•• ~ IA,ooo.Oo •em .or ~. liDS• ~ IJD81Ia IKml8t •• 1K,., w 11111' :ao, 1•1 <~ puWil ., • w u..t-., ta4f,«».oo ,_. ~ _. • ...... S.W Sa fat4 cltiJ' • DI~JlW D, lC)U). a. .......... -" Sra tan by-._. ~ • . . F .H~ Childress taaalla10 ._ • .,. .... IIA4 tba\ S. .,.._ ot * ••rran.r; M t-'h _. deftM4 £a tM 1ft t,Ja ... tile Pftl'JII14 ........ tba\ tJ1a .... be ~ Ia ........ . " J.Ray Dickey A118a f .H.Chil~r?~sd J.Ray ,,Di7~1ey 1 •• John Spikes ~,nd, 1 Mayor Pro Tempore W.B.Price ... _. • \ Tiler....-, c-at•a~ F. H. childress ' the Ol"di,._. u react ln tuU ._,the Cl\7 S.oref.u7 be ftMll7 JM•4 a4 adoptec1 b;r the C...S.•lcm. fh1a IIOUaa vu -~ b;r C~Nl..r J.Ray Dickey _...._.-. ___ ,., ad the aoU.cm, OU'l71ltl v1th it tt. · f1Da1 pu18p aac1 ' adopUca ot ~ cmtt ......... wwn1-~ eu'l'le4 "' the foll-.i'QI ..... AJIIJ F.H.Childress, J.Ray Dickey, John Spikes and llayor Pro ·Tempore W. B. Price as ........ . !hei'W,Pail, ~ ,_... atmoaeoe4 that the ard1wo. bacl ' beev: ~_,·,~ su•4 ucl adopted b7 . men4..,_ Yotoe ot the C~ld.ca, 1D ~ nth tM riquil'e- . ..-t8 ot s.ouou u, 1.6 • l'r, ot Article u, ot the ~rJ 1114 tM Mq• ~ .,1Dt4 aac~'.epptowd tbe Oft1'a'"ce ' in tbe pi..._. ot ~ c.at•at.araa !be ardfMDoe l• u tollont ORDINANCE NO . 823 "AI OIDIJAICI tr the Cit)-ea.iaetc of th. Ci'Q' ot Lubboak, !.-.a, au~ tbe 188U8Doe ot I Sl,OOO.OO 1C!Tt at LUBBOCK, !EUS · 81'18Bt LJDII!DO Boas, sarnxs 1947•, elated ZttJ:~lO, 1947 (beiDa )U'081 of a tcrta1 1.,. ot $2451 000.00 baada authorised at t.be WOUGD held 1D aid Cit7 CD DeOI'Ibv 11, 194S), tor the ~ of CC'IUtruoting, installing,. e:x:teJlcHng en4 ~the etftet ltchtbc' ..,._ ot· lald c1tq1 '1Dcl:u4lng the inatallaticn of · .treet lJchte 1 stop and trattlo light-and other improtemeDta .tno1clental \laeretoJ pnscrlb!q tbl tara ot tbe bCDde tm4 tt. . tom ot !ntoreat ooupcruiJ ~a caat~ dinot ann~ a4 _,__ -Oil all ~ pi'Opel"Ue8 vitbin the lla{te ot 111114 ctt.r· to~ the !llterest em auoh banda end to create a .snJrt• tuad te tbD ndellpt.iC.. tbereot, a4 ~41ng t~ tbe ~~ 8lld .oallect!OD ot 8110h t&xJ eautf.Dg p!'OY1eiCIU DoldiDt uad tela~ to thl aub3ect ad purpose ot W.e Gl'dtDimoeJ .a de~ em ... rpnq.• VWRI111 .a.Jt ad br 'f1rtue ot an ort!!mmae c!D1J paeeect and adopted 'bJ' tM C!t,' CciiiDi~alcm of the Cttr ~Lubbock, tezaa, Oil the 2oth ~ ot lo•llllbar,. 1()45, tm et.ette vu o*,..4 to be held 111 altl City em. tbe Uth &q ot De~r; 1945, 8JlCl at wlalcb eleotico the fal.l.ov1!1c ~ t1cm vae ea!attt.d to tbe quali• tt.ea ele~tore ot 8814 ctv• •SHALL tba Clt7 Cc.ai.S.ec ot the ctv ot Lubbock be author!~e4 t& taa. the negot~ !ntel'eet bearing OGUpoD bcmds ot the C1'\7 ot . J.ul)'boek 111 the aaomrt ot 124s,ooo.oo, bearing interest at a rate ot Do\ a.eeecBrtc ~ 8D4 n• belt per oent. (*) per....., frail date em4 -~ at such u. or U.e • -. be •raJ4 110ft a;pe41eat ,_ ~ cttr C..S.eda, eerld17, BOt later tba twnt,wtlw JMN ~ tt.u .c1ate, ,,. tht ~ of OCJUtnat1DI, ~· nMDd!DJ aa4 ~ • ftr.et ~aht~ ~ ot ea14 ott,., 1Dolli4SDI ~ Sutellatts ot nzut lllhte, atop ucl vattto Upw 8ft4 other Sllplo• IIDU iDdaeatal tbnetoJ aa411ti811 •n 'be ....,,7 ---~ ·· In1e4 and cal.lected ~all tuable prqp~zV vl~.~ C1_. ~ ~oct. vb11e ~~-~ds ·or ~ ot th-. ~ ~te.uds .• , a~.·· euttiateDt til ~ to pq ~ aDr1Ual. mtenst. cm 8u.oh ~ a4 to pnJ'dcS. a •1~A.C t\m4 t_. ~ te4alpt!OD thereof at •tun.'tf• UD .. HIWI. upc:m OCIQS1de:raU~ ot tbe re.talru of eaid election, tM Cit7 C.Ueats toua4 \b&t·J.&2.d electtan .blt-4 be• ocmcJucted &z),,tJJe -=-~" ~ scribed br latl, · ad ~. ~ . .U napt4'e lf~7 held, ~r du!l. ~ .·J.INI*' aott• a.a nqUh'eci bf ~VI that au. fttuma ·or said elec:t!on bad be~ ___ b7 the Jlro:s-• .o.tt'ioeraJ that eaid election renlte4 ~'fQi'ab4r to the !enp~ ot s.td bcblaJ that a ~or!t7 ot thfll q..Uttecl el.ectore1 wt!ng •t eaid electic, ~4 ~ t•wr ot tbe 1sltWIOe ot -.14 bell_, eel ~t tM Cltt..c._s.,e!;~ t.e t.J:l ell I I ) I ' 0 th.11lss a~rl.~d . to 1•"-. eat~ bOJD4e and to .&. aiv-. 8.J14 ~ th1tce -~~8&17 u4/t:tr o~t 1n cc:m:nect1on therev1 thJ ~~ WBEBl!AS, heretotore b7 ~ce c!a~d Mareh 191 19~ .. 165,000.00 et u. 124s.ooo.oo ~d bcm!8 vere authon~ed b1 th1e City Ccadeeion, an4 then now :re-Sna ~SB'Qid $180;000.00 ot suoh issue, .ad 1t be1ng nov ~4 bJ' the Cit7 Callll1sal0Zl that it 1J not de•1nd at this time to 1e8W» all ot ~ rea1D1ng banda ot $18Q.ooo.oo, but that. cmlJ' $51,000.00 ~f said' bonda eball aav be 1seuad for tbe pttrp98es tor vh1ch the ~ were au\horiaed' ana, that tbe balance ot eaid bonds in tne SIDOUDt ot &129.ooo.oo 8hil1 be issued at a fUture date or date• wen,. 111 the judgmmt ot the Cit;y CtwiiiDi•aton of 8&14 C1t7 ''• \ 'I •' > ' I · WBEREAB, 11; ~to~ best 1Dtereet of tbe CitJ' that the author.1sec1 ~ta and exteDalona to tb6 Street Li&hts be cont~4 at tbe earl!eft poa&lible date •. thereby oreat.ina thie m .. rpno;y JDBUUN fOf' tbe ilaadtate presenatjlon Qf the p1blio peace$ property, ~tb and aatet71 as well •s a aore etf'io1ent adll1n1etl'atian and ~ration of the Trattio De~nt an4 Stree~ s,..ta ot the municipal gon~tJ ~,f B I'l ORD.\IIID BY 'lBE CIT!' CCHaSS:tON OF TIB em or· LUBBOCKt . #IC:IOflll That the bonds ot 8&14 01t)rt to be oalle4 •em or LUBBOCK 'l&IAS, S1'Bift tiGIG'~ S9!1DS1 , S!BlES 194,. 1 be 1asue4 'aDder e4 bt virtue ot . tbe ·Oonetttutton u<l ~· ot the State ot 'l'exae, and~ Charter of the Cit,-, . ' . t01r .. purpose ot oonatructblg, 1natel11ug, extend!Dg u4 1aprov1ng tilt etnet JJ.gbtl.ng s;,stea ot 1814 cit,-, !naluding the 1Mtall.at1on ot atnet l!shte, ftop aa4 trattio lighta 8Z1d other ~te 1noi4ental tbeNtoJ 1n the principal na ot PD'TI...o18 IHOUBAID ~ (1 51.000.00). ' ji IISD'D i• That aaid bont!a sball be D\111bera4 eoniteouUwlT ·~ a. (1) tor~ .(51)• both inClus1,.J eball ~ ot the ~cada&tton ·or ODe irllcalaD4. non• .. (tl,ooo.oo) each• aurwgaUnc tt. ... i4 ·~ rhoaM1a4 ·nouue (t,l,OQO,.oo );. ; •' I, , , > , , • ' 1 ' ' .. .-cttQB ae nat sa14 bCIID&J ~be &ted Jul:¥10, 1947..,. -.n .--. in ecc~ llith tt. tollowixlg sche~t '•' . , . . Maroh 10, 191.8 1laroh 10,, 1<}49 March 101• i 950 Maroh 10, 1?51 March 10, 1952 . Jfaroh 10, 1953 Raroh 10, 1954. llaf'Oh 10, 1955 Marob lOt 1956' ~ 10, 19J7 March 10, 1958 llaNb 10 1959 MarCh 1o! 1960 · Mal"'h 10, 1961 March 10, 1962 Karch 10, 1963 March 10, 1964 March 10, l96S t March 10, 1966 Harch 10, 1967 ' . I l,OOo.OO , 2,000.00 . 2,ooo.oo .2_,000.00 z,ooo~oo a.ooo.oo 2,ooo,oo 2,0()9.00 2,000.00 2,000.00 2,000.00 ,,ooo.oo 1 J,ooo.oo 3,ooo.oo . 3,ooo.oo 3,ooo.oo 3,000.00 4,ooo.oo 4,ooo.oo I 4,QQO.OO SIC!IOI 4t That all ot eaid boD48 ebal1 bear interest ae follona. ... (1) Bonds numbered 1 to 24, 1na1us1ve, shall beq interest · at the rate of 2~ plr anma hut date) (2) Bonde 11111llbered 25 to Sl, !.nclusiw, ehal.l bear 1nteres\ at tbe •te ot $ per amna trca cSateJ vhioh 1Dtezoen eball be payab~ on March loth and September 10th 1D ~=,'::h ::e!!:' ~r::=:, ~ *::~ dt&ahed to eaeh ot &111!4 ~48. ·EZIQI 5* tllat the Jll"iao1pe1 ad !a~et tit add eel'iee of .bonc!a shall be pqab1a CD preaeatatS.cm ad ~r of bfmcSa or ~r oaupou, in lavtul ...,. ot the Vla!t.a Statea ot -.noa, at t1te 01JAR&ftl !RUST CCJIPA!f!' or JfiW !'O.U, IIV ·YORI om, Bli JOU • . ISQU<I 6t !hat each ot aa14 bcmde aba1l be atp4 br tM Mqor ... 'oouotenlglled bT the Ott)" 8ecret417, 8J24 tbl ~te ae~ ot the •em til LUBBOCK, TJaAS'I ela11 be iapree•d ups eaob ot \bilk .a<nJQI 7a That tM taoeia1le aipatune ot the lfi.7or ad Ci't7 S.aretar.r _,.be u.-•4 or printed on the tntuen ooaporll attaohe4 to 8&14 boll4a1 aza4 abaU .... tbe ... etteet ae it ~ he.4 been etpe4 b:r ~ ' 10·~---UIHID BfAUS or MIIIIQA arm at !IDS. comr.rr or LUBBOCI, Olft ~ LVBBOCI BlAB 8!111! l.lOIIrDO ICES, DIDB 1947. 11,000 .oo OM fll UIIBGOI, a ..telpal ..,_auca, ot tM Skte ot tau, ~· lU.lt tMeb\efl to a4 ftB Y.wll .a&IDD ._.,.br pr.at•a to -taldD JM'I.TvAU (U,ooo.oo), Sa lah1 aaea:r ot * 11a1w state• ot -.t•, ca t1a1 10Ul .., ot MaNia, 19. , wtt.h iatenn ta.ene trc. ta. date henot aut paid, a\ ... --at ( •> per ... , ~ Cia Jkltob 10Ul U4 Se~ lOU. SD eaob ~, tbe t:ln\ SDteren ~ date betic Jlutola 10, 1948-, • PN-.'-U• u4 ~ ot ta. ... a ~ .. .,.~---. IOfJI PIDOIPAL AID 1itEiiSf rl filii BOD are haftll:r .a. ~ at the 01WWirr !111ft O<IIP.or t11 • nu, ., tea em, • "~•· tii8 ... t.a .. ot a •J'!e• at ru-., .... (51) •dal --· ,.,.., tl'Ca ODe (1) te nn,-.. (jl), bot1a 1Ml.aiw, aU of aat.4 bOD4a beiDC ol the ..__,•tt.• ot ODI t'Jloa811114 Dall•n (tl,ooo.oo), lllfti&UIIc 1Jl .. _. P1ft7- 0M ~ hllva (tn,oao.oo), .a ta_. tor ta. ,...JANe or ~ iMW1.1JII, ~ a4 1llpNftJII ..... .v..t lJ&b\1111 ., ... ot. eal4 oit.F, lao1114bc tbe IMWlaUc ot .U..t lJ.Pta, n.p -' tattle l.SP'e ..a .U.. iajftr ra~ iDol"-aW tta.fttt1 Wldlr ..tbol"l'J ot the COUUtuU.GD D4 Lid ' ot tM State ot tau, .a tbe ~ ot ..t4 Ct.t,, aa4 }AINCIID\ to aa OJI4••noe 4lalT ~ bT ta. ct\7 ec-lNlca ot tM Cl-,. ot ttlbboak, , ... .a n00l'da4 1a tile -... ot aal4 Cl't7 c--tHtca. 1! D BlliB8! CIB!IrDD, IIIOrtQ AID IIPIBSB1ft'ID *' the 1._. at W• bcm4 act \be ...tea ot 11blab '' t• a .-rt la c1Dl7 autborilld br 1av U4 -a ftte ot· tbe q1altfte4 proper\J ~ ~ ot the Ci't7 ot Lubbook, tau, wUDa at a ela.U.ca lle14 tor tllat pal'~ vt.WA -.!4 Cl'J • thi Uth dq ot .,._, l.UJ tM.t .U aoU, oca4it1GU1 aa4 tlaiJIIe ftqubet to be diciDI pn .... t to a4 111 tbe , ...... or wa aut•• ot ~. ao4 et we be4, baw •• JI.IOiiU'~ 4eM a4 pe.t .. a a4 baw happeae4 SD nplu aa4 ... u.., , .. aa4 --· .. aq1d.N4. -· tbat -'t1oi•t ... preptl' PN'Id-t. tbe lev ua oo11MU• ot taaa baa bMa .... wblela, *" -.u..ot.t. aa.u be appl1»J411ate4 aoludw~ to tilt ~' ot W• bGD4 a4 tM ••• of 1dde tt u a ~ all4 to tM ~-t ot the mtuen ·~ ~"' ••WD4 u t!Mt ... .U. be-bJ iiD4 ttiat * ~ ladlbteeJDaa• of tbe Clt,. .t tabbook 1. !QU1 1De.lliiH.Dc ttilt ..U~ •da• ot bcm&t ot Wtoh tM• 11 _.., doe• aot ...-e7q ecu\ltuuelt&l·or $t1lto:rt UIIS.tau.ca.· .. · · D !llrDDI w•RlOI, .. Cl9 ot L11bbooJr. 'f...-, ,. l\8 ·Cit,. ·Ccathlca, 1au .~a s.\a .. .,..te .•81 w be atftiltt· hlmo, . .a .this. \oD4 tO ble ~4 bJ' ttl .., .. -' ~" ..... ·' "" ltl qu., ~--tarT, ',act *' r I.D"--"' OOUl*\8 •' ' . ~ ··~• ~ ._ •·•~4.,.-. ~~ • ~wa .~,s·O• ~---· ' ot tM Mqw a4 Olt)' Se«<ft'-.n tbl tat. ot W.a l;Mm4, 1D OGDfca!V vlth .'tilt ..,. • ._&boW fthlft4 w, 13dBI tlie 10\b' ltq ot IV:q, 194? • ...,., ctv ot Lllbboek, tau. • I I 10. __ _ ·-----tiMt em r1 taBOCI, a amlolpal ..,par&\I.Cil of • State ot taaa, hue"' .,._... to pq to beav, at tJie GlUtln !111ft CQIPAU 01 _, tam, ·-tcill. em, .., tCIII, v. .. ot I ._tut l$ftlt c the. •Cl!,r rl L1IJBOCI, !IDS, lltiBBt LIOB:rDG BOD,, SDDI lt4.,. clat4t4 J\J.lf 10, 1947 •.. , BCID4 ~~ .. ......,......,_. PmCI W• nat tM tGll.CIId.lla ...un..ate .a.:ll bi pr1Dtec1 aa u. -.:t ot ... baD4a · Bloma 10. ,_........., __ . . J .... aurin t.bat then 1• -tu• .. ot n.-ct 1a .,. otttO. a oertltt•te ot tM At~ o.iaera1 ot t.;_ State .if .-., to • ~d ' ttat W.• ~ hU bMD •..:...dM4 bT Mia u 'NqlliNt"' lw u4 ., ._ft-.. that 1 I I I • 0 < I .;, I ., ' .. lt hU beia ta-4· 1ia eGDfOitd\7 vlth tba CCil.tlftU• Md lAir.W ot Q. Sta" . tl t~, 'acl tbat ·~~ ia •' ,iaua ad ~ obl•jat.loik ~ ldct"Cltf: of · ·· · ~ ~ • I. • • ' I ' I • Lubboot, Y ... , d 8a14 *4 hu Wa tq ._.. Nllllteft4 • •• 0 I 1 0 0 ' I .. t; • Vl!ll88 Kt U. d» SIAL C. Clft'ICI •t •111m1, tlWS --~~----- C~r ot Plabllo ....,__ et tile State otTau. ""t<l U• • r.r ftiRfBII ~ sr s em OCIIU88ICB ~ ,. em~ LUBBOOii flat to pq \he ~-.-. .aiel ~ U4 -.at. a aSD)tna haul ..m,"" . ' . .teat, to. na.. fJMia at •twl'7, a ta ot . One ( $.01 ) c.aw. ( 1 ~ C1t7 ot Lubboot, , .... • tna11a a ,....-t u _,at all "-• be 1ep117 --~. aM11 be .._,,7 lftted • ..u ~n, .a ~ ....... a .a Mlleote4, ~ H .aeb tlleNof U D1l be --~, or iii a&llUCIII tllaftto U . ' _,be ftelld.ftct. -u1 .tel bclad8, vl\la ~Nn tbene, baft lletll fal.l.T paiclf a4 the -.tel ta: ot On e ( $ • 0 1 ) Cellt. ( 1 •) la MN DGW . . •. a&U.tlca ~to u _, bt aqu1~~t4, la t.N'J lnle4 te _.. ~na~CM4tzlc ,..r ' -t • I vbUe .tel.,..., "'_, ot '*• &N ~' a4 t.a. ._ a.1l be ~ u--4 act · ealleot.4 111&4 aP,PUe4 to tM par~ ---~ 'IHU .. M1 a 11' lUll .. OIDfiiiD It M em QCIIII8SP f1' T• -cmT · tJI LUBBOCia 'lbat tbl. Jlai• ot 8814 Clt)' llhall be aa4 M 1a lme"J authar1•4 to tua 8D4 haw obup ot .n ..... ., OJidml a4 re...sa pntt .. lnla\tc&Uca "' .. AtterDeJ a..nl ot \be state ot t ... , a aba1l. tua ad haw .,.. aa4 ooratft1 et the '-de hlnla ataaod ... ptE11'DI tllltU &ppi'Oiialbr tbll At'--7 C..allia4 tMU np.tNUCIII b.r t.hl C.,..Uw ot Pablle A...-t .. 9G"I(K Pi _., BJ l'f I'UktBEI ODADIDU m · em CKIIHISSJOI··Of Til em at LlJBBOCii · 1'lle tact ._tit la to the be.t Sntere.t ot tba Q1t;r \bat tbe au\hed•4 ia}o« en · cote u4 •~1~ to tbfa st:Net L1ght1Dc ~ 'be ~cotmt.4 at t.Ja. earl.S..II\ poee1~ ~te •. --.tea tb141 en.-J'PDOt aiU1aN tOI' tt-. S..df.ate ~*'na't• ~ tbt ·~tf .. pea..:-, P"'.Pt~. t.alth-' at•tJ,.a, -uu a ' ~ .•ttle~ •sa~ .. ~~~ Q4 oP.nt1• ot. tile ~· aD4 stnet ~~ Mnt ot tbl lalidl'4 ........ ,:· ~Sbj that the Charter pJ'CJYidonfl to the ettHt that 110 cmHaenoe abaU be pasaed on the day on which lt ablll be 1Du.t c1uoedt lJe ~41 u4 tb1e ordinance ia here'by declarect aD .. IPDOI' ___.. bT .,..,..,. .,._ of tbe CStJ c.d.CODt and the ..... a.U tab •tteot ,... aa4 ~l' tte ......... , cact it 11 .. fll'taiDed., rABD, tid• tlllt 14th dlr;r of ~' 1947! .&IPIOUD, Wa the 14th c1q o~ Nq, 14)47, (Citr Seal) TBB S'l'AB 01 DIA8 COUlft'! ar LUBBOCK em r. LU8BOCI I I-. IAwD!a vuu.ma, Cl\7 Secireta.ry ot tbe Cit)' ot tubbOCit, tau, DO .-r ..-m that the ·r~·t•'• t&w ·aA otllftot oow or • o~, .... authmtd.q 1•.-noe at' CM ~ LUBBOOI, ·!IDS, StilEt LlQII!DO BODS, IIRDI 1947• &aopted b;y the C1't7 ec.d.utaD or 11&14 Cit,' ca the 14th dq of hl71 1947 (acl ot tM MiDutee ~ ~ 1W .topUaa), ad that lt hu bHa proptr)T ....U.d, p1• .. 4 1n t.be otfiae ot th8 Ci~ s .... te.z7 a4 ·•~4 bJ' the .,llqOJ' ~Ill' be-. z-eo~4 ·in l3ook -..........-j Mtnutea ot eatd Cm.tea!ca. D ~ VIIIRECJr, ·I haw heNUDtO ldpe4 -. Dae ottlolallT liD4 atttD4 tM ...:1 ot .u ctv w. tht 14t~ l (CltJ Seal) Clt}'