The URL can be used to link to this page

Home My WebLink AboutOrdinance - 1114-1951 - Authorizing An Issuance Of $2,313,000, Water, Sewer, And Electric Bonds - 07/12/1951'• ~· BOND ORDINANCE ·NUNl'BER 1114 0"::1---12 -l~S I r ,.. 1 AN ORDINANCE AUTHORIZING ISSUANCE OF $2,3131000 "CITY 01 LUBBOCK .. TEXAS, WATER, SEWER AND ELECTRIC LIGHT BONDS, SERIES 1951-A"• DNr.ED AUGUST l, 1951 THE STATE OF TEXAS I. CITY OF WBBOCK COUNTY OP LUBBOCK ON 'l'HIS, the :L2th csa:v or lw , 1951, the Otty Commlsa1on of the City of Lubbock; Texas, convened 1n Rew1la~ session at the regular meeting place thereof ln the Cit~ Hall. with the following membera tbereot, to-w1tt CLARBMCB K. WHITP;SIDB, MAYOR., Presiding; LUCIA.H THOMAS JR.l E. K. JWESTXPLER, COWUSSIONERS., L. B. DAVIS HARRY MORRIS and - MRS. LA VENIA LOWE I CITY SBCftB'lARY, present, and tne ·rollow1ng absentt NO ;tiE conat1tut1ng a quo~, when among other p~ceed1ngs bad were the following& ' Commissioner ........,DAaV:.-.I._s ........ __ presented for the cons1dera- t1on ot the City Comm1aa1on an ordinance authorizing the issuance ot "CITY OF LUBBOCK, TEXAS, WADR, SEWKR AND ELECTRIC LIOB'r BONDS, SBRIBS 1951-A", dat~d August 1. 1951. in the pr1notpal sum ot $2,313.~00. (being tne aeoond installment ot a total authorized 1asue of $6,058.000). The ordinance was read 1n fUll by the Ctty Secretary. ... '-.... ~. Thereupon, Commissioner THOMAS moved that the rule requiring that no ordinance. shall be passe4 on the day on which .it is introduced be suspended, and that 1n view of the emergency aet forth and defined in the preamble to the proposed or<11nance, that the same be declared an emergency measure. This motion waa duly seconded by Commissioner DAVIS motion carried by the f~llow1ng votet • The AYESt CoJDJD1sa1onera Thomas, liu.fstedler, DaVis, Morris and Mayor WHiteside. NOBSt None. Thereupon, Comm1aa1oner HUFSTEDLER moved that thft ordinance aa read in tull by the City Secretary be finally .Passed and adopte4 by the Comm1aa1on. This motion waa seconded by Commissioner MORRIS an4 the motion, carr,lng with it the final ~aasage and adoption or the ordinance, waa unanimously carried by the following votes AYBSt Commissioners 'fhomaa, llu(stedler, Davis, Morris and Mayor Whiteside. Thereupon,.tbe Mayor announced that the ordinance had been tinallJ passed and adopted by unanimous vote or the Commis- sion in accordance w1th the requirements o£ Sections 15, 16 and 17 of Article IX of the Lubbock Charter, and the Mayor thereupon signed and approved the ord1nanoe in the presence ot the Comm1s- a1on. The ORDINANCE ia a a follows r . J NUMBER 1114 "AN ORDINAJCE by the City Coma1aaton of the City of Lubbock, Texaa, author1Z1QS tbe 1eauance or bon4a 1n the pr1no1pal sum ot t2,313,000, (be1ng the second 1natallaent or a total authorlzed 1aaue of $6,0,56.,000.), for the puz-poae or JDakins permanent public 1mproveaents, to-witt constructing ·111prov.•nta, enlargementa;. utena.1ona and re- C)a-ire to the Olty • a ·.wate~or.u S7i1tera, San1 tary sewer' Syat .. and Klectr1c USbt Syate•J preacr1b1ng the tom or the bonda ana the torm or 1ntereat ooupOnaJ 1evr1ns a oont1n~iftg .d1rect annuel ad yalore• tax on all taxable property Within the l1JD1ta or N14 C1t7 to p~ the 1nt•reat on aa1d boa and to orea te a a1nk:111S tuftd for the redemption thereorJ end providing tor the aaeesament and oollect1on of sucb ~e&J enacting the prov1a1ona incident and relating to the purpose and aubJeot of tb1e ordinanoeJ and 4eolar1ng an e•rgenq." WHEREAS, the C1t7 Coae1aa1on of the City ot Lubboek, 'texas, on the 5tb da7 or Septeaber, 1950. adopted an order calling an eleot1on on t~e question of the iaauance or $2,6g6.,ooo general obl1pt1on tax bon4a to 118ture aeriallY" over a period or years not to exceed thirty (30) years fro• their date, a~d bearing interest at a rate ot not exceeding 3-1/2-per annum, payable annually or aem1-annua117, .tor the purpoae of .aking permanent public 1qprove•enta, to-w1ta constructing improvements, enlarge- menta, extensions and repairs to the C1tyte Waterworks Syatem)and WHEREAS, on the same day anCI by the same order, the C1ty ~ommiaaion ~lled an election on the question of th* 1eeuance ot $1,304,000 general obl1get1on tax bonds to mature aer1all7 over a pe~1o4 or y•ara not to exceed th1rty (30) yeare trom their date, and bearing interest at a rete or not exceeding 3-1/2~ per annum, l payable annually or •••1·anmaa1}7, tor the purpose of aak1ns permanent public improvements, to-wit• oonatruot1ag improvements, enlarsements. extensions and repairs to the C1ty•a San1tar,r Sewer SyatemJ and WHBRBAS. on the aame dar and b¥ the aame order, the C1t7 Oomm1aa1on called an election on the queat1on or the issuance of $1,858~000 general obligation tax bonds to mature aertally over a per1o4 ot 1eara not to exceed thirty (30) ye•ra from the1r date, and bearing interest at a rate or ~ot exceeding 3-l/2~ per ., annum, payable annually or enl:-annua117, tor the purpose or mak1ns permenent pub~lc 1111PJOveaenta, to-w1t: conatNctins improvements, enlarge~nta, extens1ona and repair& to the C1ty•a Electric Light SyatemJ and ~s, the aa1d election waa bela pu~uant t~ eatd order on the 26th day of september, l950J and WHERBAS, the C0111111aa1on has heretofore examineeS 1nto and 1nveat1&ated the regularity or the prooeedtnga to~ aald election and roun~ that the eame .waa duly and legally heldJ that th• not1oe re~u1red by law to be g1ven had be&n duly an4 legally g1venJ and that aa14 election wa• conducted 1n strict oontor.tty with the .lawJ and that due retu~e ot ea1d election had been made b7 the proper off1oer&J and WHEREAS, at ea1d election, the qual1f1ed voters who are property taxpayera ot the C1ty or Lubbock, votina at said elec- tion, sustained by a maJority vote the propoa1t1on to 1asue bonae tor co~£atruot1ng 1Jiprovements, enlargements, extensions and repairs to the Ctty•~ Waterwo~~s SystemJ end WHBRBA.S, at said election, thEt <lu&l·1lied votera who are p~opert7 ·t~parers ot the CitJ of Lubbock, vc~1ng at said ~leo• tion, auatatned by a maJority vote the pPOpoa1t1on to 1asue bonds for constructing improvements, enlargements, extenaiona an4 repairs to the. Oity•a Sanitary Sewer SyatemJ and ·../ WHEREAS, at aa1d election, the qual1t1ed vote~ who are property taxpa~era of the City of L\lbbook:~ voting at sa14 election, sustained bt a maJor1t1 vote the proposition to 1asue bonda ro~ constructing tmprovementaJ enlarge~nte, extene1ona and repairs to tbe CitJ'a Blectr1o L1ght 87ate•; and ' WHEREAS, the Ott~ Comm1ea1on baa heretofore adopted a resolution declaring the reaults ot aaid eleot1on and aeter.m1n1~ the apec1t1o authority ot the C1tJ to teaue said general obligation tax bolld&J and WHBRBAS, said above-mentioned election authorized that all bonds ot the three aeries hereinabove mentioned are to be issued aa one aertea ot general obligation tax bond&J and WJIIREAB, th.e Cit-g COJDID1a810n heretofore. ~o·wltl on the 28th dav of »eoember, 1959. adopted and pasaed an ordinance b7 which $1,82-,ooo ot the $0.osa.ooo bonds voted aa aforesaid were a~tbort•ed and 1aeued, 1t being determined b;:v the City Commiaston at that t1tae that the remaining amount or ea1d bonds, to-wits $4,234,000, should be laaued at a~ future date or dates if and .nan 1n the audgment of the City Oommteaton or said City, the sa14 additional bonds are needed b;:v the City tor the purpose for which sucn-1ndebtedneaa waa author1zedJ and ~ftiAS. 1 t; betns now deten1ned by the C1 t:v commtaat.on that 1t ta not desired at this time to issue all ot tho bonds rema1n1ng unissued in the amount of $4,2.34.0006 as aro~aa1d1 and that $2,313,000 18 the amount Of bonds now desi~d to be 1aauev and that the remaining Jmount ot said bonds, to-w1tl $1,921,000, shall be 1aaued at a future date or dates, if and when 1n the Judgment or the City comm1sa1on of ea1d City, the aa14 additional bonds are needed b.r the City tor the purposes for which auoh indebtedness waa author1zedJ and WHBREAB6 tt te now neoesaat7 and proper that tho City Ca.1aa1on of the C1 tt or Lubbock, Texas, prooeed w1 th the 1aauance or such general obl1&at1on tax bond&J ana WHKRBAS, 1t 1e FOUND, l>BTiRJIDJiD Aim ADJUD0£1) that 1t le neceasarr and. to the 'beat interest ot the C1t7 to oonatruot 1mprovemente, enlargements, eatena1ona and repal~a to tbe C1t7'• Watervorka 87ate•, 8anl taey Sewer S7etem and. Elect rio LS,sht Syatea at the earlS.eat poea1ble date» for the t.e41ate pre.serva- t1on ot the publlo peace, p:roperty, heal tb and aaret¥ ot the e.tt1zena ot tha City ot Lu~book. 'rexae, an4 tbat b7 Virtue thereof ·." · ·.;·l·4tr ... ~·. )·:~.:.· .~:·.~ .• :·:). ... _.:.\,.:. 1.; = .-~r~·'. ~· .... ~. tbla ordinance should be paaaed and~' a-'.e#tea·~:., •.. arf·:~--~rs'i.rio) meaaureJ theNtore BB 1'l ORDAINBD BY THE CI'l'Y' COJDIISSI.ON OP 'l'HB CI'l'f OP LUDOCltt @CTWN ,it That the boru!a e>f the City ot Lubbock~ Texaa. to be known aa "Cl'lY. OP. .LODOC.~, ~TB~S, WATB.ft, .. SEWER AND ELECTRIC LIGHT BORDa.,. ~ 1951•!·", ·be ·usued under an4 ~J' virtue ot the Conat1tut1on and Uwa C>t _th• Stat:e ot 'l'exaa tor the p\irpoae of ald.na pe~ent public 1tliprovementa~ to-wtta conetr.u<st1ng 1DtProvementa,. enlaJ-& ... nta, exteneiona an4 repa1re to the C1tyta Waterworks Syateaa, San1ta17 Sewer Syatea an4 Bleotric Lilbt SJ'eteJD, 1n tbe p:r1no1pal an ot TWO MILLION 'l'HREB HUM»MD THIRTEEN THOUSAND J)OIJiARS (f 2,313,000) 1 (be1na the aeeon4 1natall.Mnt of a total authorized 1aaue of. $6.o58,000}. U&1'IOH ga Tha-t aa1c1 t.onda aball 'b8 rwJDbered conaeou ... t1 velv from One ( 1). to f.wo Thouaand. Three Hundr'EHS Thirteen ( 2, 313) * ~both s.ncluaiveJ aball be ot the denoalnation ot One TbouAnd Dollara (f l,OOO) each, aqrept1n& the &Wit ot TWO JULLlOH THREE HVMJ>RBJ) '.1'HlR'lE&N !'HOUSAJtD DOLLABB ( $2,313,000) • SBCZIOI 3; 1'hat aatd bonda a~ll be dated Ausu•t 1, 1951, and aball become due and payable aeriallJ according to the following echedulea ( / BOND NUMBERS ( A~lJ. ~1Us1 vel Mta:JmiD: DADS. AM9QE£S 1 to 3 Auauat 1, 1956 $ 3,000 4 to 6 August 1, 1957 3,000 7 to 9 August 1, 1958 3,000 10 to 12 Ausuat 1, 1959 3,000 13 to 17 ' Auguat 1, lgOO 5,000 18 to 27. August 1, 1961 10;000 28 t()' 39 Aqpat 1, 1962 12,000 ~0 to 42 Auaust 1, 1963 3,000 43 t~ 49 Ausust 1, 1964 1,000 50 to 71 August 1, 1965 22,000 72 to 111· August l., 1966 40,000 112 to 152 Auguet 1, 1967 41,000 153 to 333 Auguat l; 1968 181,000 334 to 547 Auauat 1, 1969 214,000 548 to 190 August.~, 1970 ~43.,000 791 to 1041 August 1, 1971, . L 2?1,000 1042 t" 1274 August 1, 1972 233,000 1275to 1510 Auguat 1·, 1973 236,000 1511 to 1753 August 1, 1974 243,000 1754 to 19.99 August 1, 1975 2116,000 2000 to 2313 Auguat 1, 1976 314,000 PROVIDED, HOWEVER, that the C1ty reserves the right to redeem Bonda lfwa~~red 1042 to 2313, both 1nclue1ve., {maturi.ng 1n each or the years 1972 to 1976, both 1nolua1ve), 1n whole o~ tn part., OJ'l Au~st 1, 1911,. OJ" on &Ql 1nte"st ·papen~ date thereafter, at par and accrued 1nterea·t; PROVIDBDt FURTHJm,· t~t 1f less than ' all of sa14 ~onda are, redeemed on auoh redempt1on dates, eame , abal~ ~lHt ·redeemed in inverse numerical order; and PROVIDED. FURTHBR. 'that at: least thirty :'(30) ·days prior to any interest ' . '· ,>.1 / P81Jient date upon wh1ob an7 or 881d bonds are to 'be redeemed, not1ce of redemption; signed by the C1 t,-Secreta17 ( apeoif:llng the aerial numbera an4 &IDOunt of bonds to be recseemed) &hail be publlahed onoe 1n a flnanoial Journal, ot seneDI o1rculat1on, 'PUblished 1n the CJ.ty ot New York, New York, and shall have been f1leCI with Ura' ted ..S:ta*· es Tru•t Compet~J, lew Iork. Haw York and wlth the CITBBMS NATIONAl; BABIC, LUBBOCK, TEXAS, (the pay1ns agents named in each of Mid bonds), an4 should all)' 'bond or bonds not be presented tor rede.pt1on pursuant to sue~ n~t1ce, the aaae aball oeaae to bear interest from and at'ter the date eo fiXed for redemption. §12:gl9H 4& That the aa1(1 bonda nhall bear 1ntereat from date until paid at the tollow1ng r.atea per annu$, tha' 1a to aa:r -- (a) Bonds Numbel'ed -1.... to 7J, , both 1nclua1ve, (maturing 1n eaoh ot the 7ea1'"s 195{> to J 965, both 1noluo1ve) eball bear interest at the rate or _,_.......,_ TWO AND ONE-HALF rBR CBN'i'UM ( 2i ") per annWDJ and {b) Bonde Hu.bere4 72 to ,231~. both 1nolua1ve, -- (maturtns in each or the years 1966to J-9~, both 1nclua1ve) shall bear interest at the rate ot __ _ THREE iBR OE)ft'UM ( 8 ~) per &MWPJ ancS (c.) Bonds MUJDberec2 to _ __,, both 1nolua1 ve, (.atur1na in each or. the yea~u to , both 1nolue1ve) eball bear interest a~ the ~te ot ..._. __ _ --~----~---...--PER CBNT.UM (-• , ~ per annWIJ auch 1ntereet to be ev14enced b7 proper coupona attaohed to eaob ot ea1<1 ·bonde, and Sald tntereat shall be pap.ble on FebruarJ 1, 1952, and semi-annually thereafter on August let and Pebrua~ lat 1n each year. '• S§CTION 51 That both principal of and int•reat on said bonae shall be p&Jable in lawtul money ot the Un1ted States or Ame~1oa withou~ exchange or collection charges to the owner or holder, at the Unit§Q s-ya~~s Tru.st Company , New York1 New ,Yo;k or at the option of ~he bolder at the CIT~ZBNS NATIONAL BANK, ~ LUBBOCK, TEXAS, ~pon preaentat1on and eu~render of bonds or proper ooupona. s~qT!OH §a That each ot said bonds &hall be signed by the Ma~or and countersigned by the City Secretary, and the eorpo.-ate seal· or the .,CITY or L'tJUOCK, TEXAS" shall be impressed upon eaob ot them. SBQ!ION I• That the tace1m11e .signatures of the Mayor and City Secreta~ -a1 be lithographed or pp1nted on the interest ooupone attached to aa1d bonds, and shall have the aame ett•ot aa it tbeJ had been signed by them. SBQa!IO!f -~• !hat( th.e form~ ot said bonds shall be subatant1ally aa tollowst NO.---UNr.t'EI> S'fA'l'ES 01' AMERICA STATI£ Oi' TBXA3 COUNTY 09 LUBBOCK CITY OF LUBBOCK, TEXAS, WA'.fiR., SEWER AND BLBCTRIC tlGHr BOND. SERIES 1951-A $1,000 ~e CITY OF LUBBOCK., a •un1c1pal corporation or the State of TE;xaa, acknpwledgea itself indebted t.o and, FOR VALUE RBCEIVBD; hereby promises. to pa;r to bearer, the -sum ot ONE THOUSAND DOLLARS ( $1,000) 1n lawt'ul money of the Un1tec2 States of America without . . exchange or colleotton chargee to the owner or holder, on the PIRST DAY 0~ AUGUST, 19~ with interest thereon trom the date hereof until pa14 at the rate of PER CEll'l'UJl ( ~) per annWD, payable on Pebru&l"J 1, 1952, and semi-annually thereafter on August lat and Pebruar.v let 1n eaoh year, and interest falling 4ue on or prior to maturity hereof 1a payable only upon presentation and surrender of the 1ntereet~oupona nereto attached aa they severally beoome due. BOTH PRINCIPAL and 1ntereat of' thle bond ere hereb7 ade payable at ------------------------- or at the option of the holder at tbe CITIZENS NATIONAL BANK. -WBBOCl:, 'fBXAS, and tot-the proapt paJ1Mnt of th1a bond and the interest thereon at aatu~1t7, the full faith, credit and reeouroea of the C1t7 ot Lubbook, \'exaa, are herebJ irrevocably pledgeeS. ... \...... AS l'ftOVIDlm i.n the atoresaid ordinance, the City reserves the r1ght to redeem Bonds NUabere4 1042 to 2313, both 1nolua1ve, (J18tgrtng in each of the rears 1972 to 1976, both ~nelua1ve), 1n whole or in part, on Ausust 1, 1971, or qn any 1nt•.reat paJMnt data thereafter, at ·par and accrued interest! PROVIDED, FURTHER, tbat it leas than all ot eatd bonds are redeeaed on any such rede~~pt1on datea, -shall be recJeemed in 1nverae numerical o~erJ and PROVIDED, FUR'l'HSR, tbat at leaat th1rtr (30) day• prior to any 1nte~at pa,ment date upon wb1oh any ot aaid tionaa are to be redee.ed, notice or redeaption, a1gned 1J7 the Cit~ Seoreta17 (apeo1ty1ns the aerial nWDbera an~ amount ot bonda to be redeemed) shall be published once in a financial Jour- nal ot general o1rculat1on published in the Cit~ ot New Yo&-k, Nn I York, and shall have been filed •1th ___ __._......, ______ _ ........,_ ..... ._..~.....,..~----and w1th the CITIZENS MATIONA%. BANK, LUBBOCK., TBXAS, and ahould all)" bond or bonds not be l)r&&ented tor redemption ~urauant to such notice, the eame shall oeaae to bear 1ntereat troa and after the date ao rued tor redeJDPtlon. rt IS HEREBY CER!'IPIED., ftBCI,'ED AND RXPRESENTBD that the S.aauance of this bond and the sene a of wb1ch 1 t 1a a part, is duly authorised b7 law and by a vote ot the qualified property taxpaying voters ot the City of Lubbock, Texas .. voting at an election held £or that purpose Within sa1d City on the 26th day ot Septeaber, 1950J tbat all acta, cond1t1ona and thlngs requ!red ·to be done precedent to and 1n the 1aauanoe ot this aeries or bonds aQd ot -t~ bond, na-ve been properl,-done and performed and have happened in resu,lar ~nd due time., form and manner as required by l&WJ that autflo1ent and proper provlaiona tor the levy and col- leot1on ot taxos bas been .. de which.. wnen collected. &hall be appropriated exclus1~ely to the payment ot th~s bond add the series ·. ot wh1oh lt 18 a part, and to tbe payment ot the interest coupons thereto annexed as the same shall become·due; ano that the total 1ndebtedneaa of the Cit¥ of Lubbock; Te~a. 1nolu41ng the entire ser1ea ot bonds of which th1a 1a one. doee not exceed any constitution&a or statutor, limitation. IN WITNESS WHEREOF, the C1t1 ot Lubbock, ~ex&s,.by ita City comm1ss1on, has caused 1ta corporate seal to be affixed he~to, and this bond to be signed by tts Mayor and countersigned oy lts 01ty Seoreta~, and tbe interest ~oupona hereto attached to be exeouted _by the lithographed or printed raos1m1le elsna- turea ot the .Mayor and City Seoretarya the dato ot this l»ond, 1n oontormlt7 wlth the ordinance .above referred to, being the PlRST DAY OP AUGUST, 1951. COONTERSIGNBDt Mayor, Cit7 of Lubbock, fexaa §ECTION 9a lJ!bat the form ot interest coupon shall be aubstant1all7 as tollowaa NO.-~-Olf THE --DAY OF ---~-• 19_, unless the bond to Which this coupon pertains shall have been called for rede~~ion 1n •ooordance with ita terms, the CITY OF LUBBOCK, a municipal corporation of the State or Texas, hereby proa1.-es to pa~ to bearor, at _.. ____ _._.. ...... ......_......., __ .......,..._~- ____ .......,_~~~· or at tbe option ot the holder at the CIT~lS WATIORAL BANK, LUBBOCK, ~~s, the bum ot DOLLARS ----.,_.; (t. ), in lawful money or th~ United States or America, without exobange or collection charges to the owner or holder, sa1d sum being _... ...... montbo' 1ntereat due that day on the "CITY OP LUBBOCK, fiXAS, -..A'tBft, SBWE.R AND ELECTRIC LIOHT BOND; SERIES .195l•A" 1 dated August. 1, 1951. Bond Jfumber !"--~· city secretary SBg;ION 101 That the ~ollowing cert1f1cate shall be ·pr1nte4 on the back ot each bond& OF~ICB OF COMPTROLLER I STATE OF i'D.AS MOI$TER MO. __ .... I HEi\SBY CU.TXFY that· there 1a on fBI and ot record 1n my otf1.ce a cert1t1oate of t~e Attorney ·Oeneral ot the State ot Texaa, to the etteot that th1a. bond has been examined b7 him aa required b7 law, and that he find• that tt baa been issued in conforMity w1th the Constitution and laws of the State ot Texas, and that 1t 1a a valid and bin~lng obligation upon said City of Lubbock, Texaa1 and sa1~ bond haa this day been registered by me. WI'l'HE.SS MY HAND AMI> 'l'HB SEAL OP MY OFPICB A'f AUSTIN, ------· Compt~olier ot Publ1o iooounta of the State of Texaa SECTION 11 t BE IT PUR-.rlf!R ORDAINED BY THE CITY COMIUSSIOM OP THE CITY O:B WBBOCltt That a special tund to be designated "CITY OF LUBBOCK, TBXAB, WATBR, SEWER AM> E.LEC'XRIC LIGHT BOND, SBJ\IES 1951-A, FUND", 1e hereby created, and the proceeds ot all taxes collected for or on account ot this aeries of bonds shall be credited to sa1d fund ror the purpose of pa71ns the interest on and to provide a a1nklng tund tor the redemption or aald bonds at maturity: and ea1d tund shall be ueea for no other purpose: that. to create aa1d tuna and to pay the interest on said bonda and to provide.a sinking fund autt1c1ent to redeem them at maturity, a tax or ?.Dl.BTRUU ·"- CENTS ( '~'l ¢) on each one hundred dollars' valuation of all taxable property tn the City ot Lubbock1 Texas, o~ euch amount as ~ay at all times be legally ~ecessary, shall be annually levied on said property and annually assessed and collected until said bonds with interest thereon have been fully paid, and said tax of _.~SIB~~T~EE~·~~----~---CENTS ( .lj.¢) 1s here now levied for the current year, and so much thereof as shall be necessary, or in addition thereto as may be required, 1$ hereby levied for each succeeding year while said bonds, or any of them, are outstanding, and the same shall be annually assessed and collected and applied only to the purposes named. SECTION 12t BE IT PUI\THER ORDA1111ID BY THB CITY COMMISSION OF THE CITY og LUBBOCK: That the Mayor or said City shall b~ and he is hereby authorized to take and have charge of all necessary orders and records pendtng investigation by the Attorney General of the State or Texas, and shall take and nave charge and control or the bonds herein authorized pending their approval by the Attorney General and their registration by the Comptroller or Public Accounts .. SEC'liON l~t BE I'r FURTHER OBDAINED BY 'l'HE CITY COMMISSlON OP fHE OITY OF LUBBOCK1 That the sale or the bonds herein authorized to -- PHELPS ~ FENN AND CO •; AND ASSOCIATES • at the price or par and accrued i nterest to date or delivery, rlus , is hereby confirmed. Delivery ot the bonds shall be made to said purchasers as soon as may be after the adoption of this ordinance, upon payment therefor in accord- ance with the terms or sale. / - '- ., SEcTION 14t AND BE 1'1' PUM'HER ORDAIHED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK: The public importance of this measure, and the tact that 1t is to the best interest ot the City to construct improvements, enlar&ements, extensions and repairs to the Cityts Waterworks System. San1tarr Sewer System and Electric Light System at the earliest poss.1ble dnte, for the immediate preserva- tion ot the p~bl1c peace, property, health and safety or the o1t1~ens of the City of Lubbock7 constitute and create an emer- gency and an urgent public necessity requiring that this ordinance be paaaed and take ettect as an emergency measure~ and that this ordinance is accordingly passed aa an emergency measure and shall take etteat and be in toroe immediately after and from its pasaase. PASSED AND APfRO~, this the ]?th day ot tlb);t, • 1951. A'l'TES'ft ~ ·~ ,. ( <H~ ty~.seal) ·-·~ .. :: . '~.t CERTIFICATE OF CITY SECRETARY Ttm STATE OF TEXAS I CITY Oif' LUBBOCK COUNTY OF .LUBBoCK 1, THE UNDERSIGNED, City Secretary of the City of Lubbock. Texas. DO HEREBY CERTIFY that the ~orego1ng 1s a true and correct copy ot an ordinance authorizing the 1asuanee or $2,.313,000 ttQITY OF LUBBOCK, TEXAS. WATER• SEWER AND ELECTRIC LIGHT SONDS; SERIES 1951-A", dated Aug~st 1~ 1951... adopted by the Cit~ Comm:1s~1on of said City on thelfttb; .• day ot f!dl;y , 1951, (and Minutes pertaining to its adopt~on), said ordinance having been recorded in Book '1e . , page~a, . , et seq., of the Minutes of said Comm1aa1on. 'IN WITNESS WHEREOF, I have hsl~~nto signed_, name otf1c1all~ and affixed the seal of said City, this thel!t)x . \. {Cit¥ S~a!ll .· ,_ 'It • j ' ' · .. ',' .· . '· . ... . .... .. . . ........ '\ \\' \.. ...~ ... .. ·' , 1951 ..