HomeMy WebLinkAboutOrdinance - 253-1924 - Amending Ordinance 251 - 04/11/1924Uo•t.on oano1ea. ..
Y.&ASt CGIIIDiaalozaera
BAYS:. /1~
Ol!Y HALL
Olt7 of IG.bboot• feme
April Uth. 1924.
_/) ~ b7 OOIII81sa101le ~ .. ._ -onae4 b7 0a atone~ ~ .. that the or!'lii\Letrnna~ paseed:
tEAS; 00111111aeioners ~tl7v-:>, ~
. BAYS: J/{_~
The ~or then deol.ared the ordinanoe finally adopted.
1'he ordinance follows:
./
'"'' •• j. '"---.<
ORD!NANOE lJO . %58
AN OfH'I fl ANCE A1..7.110ING ormt NArlCE !1 0 . :151, "AS9li1>
ON ~IE 24Tlf DAY OF MA.nCH . 1 9~, Pflov.tDIJfO ron
THT" I !J?UAJ!Clt OF SI X PER CE!tT WARRANTS FOR Till!
PURPOSE OF rt.JNDI110 Ctm'l'AI W VAt~t l:'l OU'l'S'l'AHDING
INDtDTJIDNESC' OF 'l'Hro CITY Qli' LUBDOOK , T EXAS; LEVYIN O
1ttr RE~nAnY TAX TO ?AY ~tF.INTF.nFST ~lD · PROV ID~
stTFFIOITm't' SINl{I NC FUliD TO RETIRE SAID tiAnRAllTS
AT MATURITY, ~~D DBOLARING AN EMERO~!CY •
._......_ _____ .. ~----
WHFBEAS, be:rototoro , on tho ~4tb dt\y of' UA.roh , 1934 1
tho Oity Co r-:,..,1nn1on of tho City of r,ul>'tloak , T ~x.n.n . tatUJsd a.n orllnrmoe
n ro•l din~ for the 1 nsuanoo of Cl e,ocp .oo Rls: per cent etTY OF
L!JB'30CK JU UO I NG WARRANTS , SERI !'S 1024 tor tho purooa" of tund.1ng
o~~tai n vnl l d outnt~n d lng 1n ctob tednao~ o f o.N.•1 01 ty , tho ohrna btllng
Ordtnan<'!e !Jo . 351 • rocord(IH1 1n Book 3 , ORf;co 182 ot Qtt(.t ., of tbo
llnut eA of st\itl Cor .-rtnol onJ nnd
miEPEAS , thare being a vnca.nay l n tbe otftoe of J.hyor
on s£\14 dn.to , nnid. ordintltnce prov1<ied that uatd t~o.rrante be o1gno<1
by the !!nyor Pro 'P~Jr.pot'c ot aa.t tl 01 t y; Rlld
WHFflEAS , noma quoation hQ.a ar1s~n aa to tho ro,-;Ul Mity
of s1.\id prooeerUngs , tUl'l l n order t o rr..eot th~ obj t!JOt1 ono V'hioh hn.Vfl
boon l'n1ccd the 01 ty Oomr.1 :-.m 1oh doorr.s 1 t n.dv1snblo to o.nwmd onld.
or d1Mnoe , Md tba Q&l'l"e 1a ther0fo.ro hotoby ~mondod oo that 1 t
shall horeattar bo and road OD tollowo s
BE I T ORDAIREtl BY TH1!i CITY OF LUBB OCK • 'l'EXAS l
1 . Thnt ~arr~nte of sf~d City, to bo oallod •OI TY OF
' LUDOOClt ~rtmif:'O trARnA!tTS , SER XF.S 1914 • 'bo 1anu.,d under-and by virtue
of the Cnno t1 tutlon nnd ln.ws of th "' StTl.te of Texo.a • tor tho pur ·oao
of funding an equal nrnount of iniebtodnaae of Ot41 d Oity, duly n n d
legt:Uly 1n~"n 1 Gd • o.ntl which a r o vn.lhl, nubotntlfl! nnd now outotn.n J1ng
o'bl l ga.t 1ono ~tnt nBt an.1 d 01 t y. tho cla 1wtJ for whieb wore duly audited
and Rllo•od by tho City Commioo t on prior to the i no1tnnoe tberoot.
naid or1 g 1 nnl ovidnnoou of lnd.ebtodneca bo1ng n.a followB :
4-13•23
4-14-23
4-25-33
5-16-33
8-7-33
6-11-33
a-19 ... 23
7-al-23
S-16-23
9.16-23
10-17-23
10-1?·23
la·4-23
12-10-23
13-11•23
1a-1a-aa
12-12-83
la-us-a3
12-15-33
la..ls-a3
a-s-24
3832
2634
283'1
2643
2643
3644
3648
2854
2656
2858
2659
3660
2663
3665
asss
ass?
ass9
-ana
36?3
38?4
a715
TO WHOM ISSUED PURPOSE AMOONT ,
s.w. Oen•l Eleot.co. Electric Su -opliea $982,42
Olowe & Gowan Waterworks • 195,?2
Amartoa.n La France Fire Apparatus laso.oo
S,W,Uetet Box Co, Meter Box
s.w. Oen•l Eleot.Co, El.eotr1o Supplloe
•
113,50
2836.04
128.00 Lubbock Mob, Oo,
Olowe & Cowan
Ferguson Eng.Oo.
01 owe & Cowan
Waterworks " 97.93
Work on Switchboard 114,10
Waterworks SUp nl1ee 498,10
Br1age Weaver 'Mach,Vo. Water Pump
Olow e & Cowan
Oullwn Bros.
Waterworks Supplies
~eotrto SupPLies
Clowe & Oewan Waterworks •
Simpson Eleo,Co. tnect rio Li ght •
137.97
229.01
300.00
35S. 70
118.88
Westinghouse Eleof:. • • • 1172.00
Austin Bridge Moh. Repair parte on grader 340,00
Western Eleo. Co. Eleo,Lt. Supplies 1041.29
Atr er1oa.n Well Wka. Waterworks ,. 489.50
Wm.Tubbs Blk. 6 OT • Real EStat e 3600.00
E.G~lliland 9,85 acres land Sewer Dept. 985.00
s.w. Gen'l Elcc.Co. Electric Supplies 3134.88
$18,000 .00
!
a . S1\id Furo1ng wur»-nt~t ~hnll b(l numbflrod frof"' ono (l) to
eighteen C 18) 1 nolunl vo, .o~ll be ot tho denordnn,t1on ot One 1'11oWJMd
Dotlart~t (~h ,cno .co ) ert.oh, Bggl"or;at lnfl the eut?t or Elght.,en Thou nnd
Doll~~ (~ln,o co .~o ).
3 . Tl\oy tthnll be dated Aprll 1 5 , 19M, •lftd ohn..ll mn.turo
a.n.t booomn due an(l pn.yn.b1e ao toll own :
!Annf&l!! miPDTm§
1 a
3
4
5
6
7 an4 8
9 and 10
11 and 12
1 3 and 14
1 ' a.nd. 16
17 tmd 18
UA:rtffiiTY l>AT£18
JBnunry 10, 19a9
J~u ~ry 10, 1930
J n nun.ty 10, 1931
J ··nurtry 10, 193tl
Ja.nuft ry 10 • 1933
JanurU7 10, 1934
J onu•aoy 10, 1936
Jnnu nry 10 , 1938
J munry 10 , 193?
J"ltl~rJ 10 , 1938
J a nU!\ry 10 • 1939
J nmwry 10, 1940
Al!DtmT .
~l,o oo .co l .ooo .oo l ,ono ,oo
1 ,0~!"'1 00
1 .0~"'0 .00 l ,ooo .oo ,.ooo .oo
a.oof",oo
a.ooo .oo :J ,ooo ."o
~1 0l)".CO
a ,OOC'.OO
4 . Sn1d we.rranta 4h·:.\ll bnar 1ntore ot at tho rate ot o1x
per contum (G1 ) por annum from dnto untll m.ld, paya.ble J n nunry 10, 1085,
Bnd GOmi •n nnu.ally tho:r~~tter on thfl lOt b dny of J unuary nn ci 10th dn.y of
J uly ot oaoh year, wh1oh intnroat eball be ovld~noet by ooupeno nttGOhe4
to each ot an1 1 "'tl.rl':\.nto . Pant d uo lntnrent ohnll bonr 1nt.oroRt nt the
rntn of 1x por ncnt (6~) ·f)hr on nuns tro• mu~turtty nnt11 pnil .
5 . PrtnalPRl nnd intottooil or na1 {1 w~rnnta •1hall bt~t pn.yl\ble
in la"tUl rronsy of the thtltod Stateo of Antertnn upon pro ontn.tton nnrl
eurrentler o f ..Q.rron ts or nr o PA r oouponu n.t tho Conti oontnl & Oo 1 ~r ot al
N t1onnl lln.11lf , Ch1oarr~, Ill1no1e . Seaid wn.rrant e ehnll vrovld~ thut 1n
tbe 6Vont o f rle t~ult 1n bho ·~!\ymont of pr1noipn.l or 1nt.ernat , and
en.mn 1c pln.ce t ln the bnn 1a of nn attot·my tor ooll"Otlon., or if collected.
by ou1t. or by lervul proceedtngtJ of MY 'k ind, M a.ddttionnl al!t'lunt of
ton por contuo (1~) on ·he pr1 m 1 p1 ll Qnd 1ntarcot thon 1UO ohall be
added n o nttorney •n foeo .
a . 8a1d warrnnta oba11 be n1gned by tho YnyoJ , oount~rn1~
by tho C1 t.y Sc oro tnry n.nd rcagloterod lly t!lll 01 ty 'l'r1'rHm rcr, nnct th~
eon.l of the City ohnll bo 1mprotto c d upon ea.ob of' nn.ld wn.rr:ll\ta . Fa.o
e l it!lte ld.gnaturca or tho ~':\yo r and Cl ty Br.orctn.ry mrt.y be 11 tho~ra.phe4
UPOn the 1ntercat oouvono .
?. Tho tor of en1d 'Qft.rranu oha11 be ntlbotn.nt11'\\1y AS folJowa t
tmiTFD S'1' ATES OV AJJFni CA
STATE OF TEXAS
COtmTT OP LUBl?OCK
~1 ,0~'"0 .00
OI'l'Y OF LUBDOOK Ftnmtm WARRANT , ~ERI~ 1034.
~ .... -... ·--------_ ..
Tntn IS TO cmTifrT thnt tho City of ·Lub"ook• 1n tbn
Onunty ot Lubbonk , and State "l t Texo.o , MkDOwl&jgeo 1 tool f 1 n!Jehted to,
nn d for -.nl uo rooc1 ved horob y pro n1 oeo to -ny to bearer • o.t tho
Co nt1nenta.l and Cormr.e rc1u.l Rtltlonal ~nk, Ch1on.go , Ill 1no1o, on tho
lOth df1y of J anuary, 19 th:! p r1no1;nl oum ot
ONE !HOUSAND OOtLARS ($1 ,or·o .oo)
ln l,at1tul monny of the Uni toll St~tco of ArMr1on , W1 th 1ntcr'!ot thereon
froll date hereof unt1 1 ~uid 1 ~t tho rato or oix pnt oen tue (~) por Mnum ,
1 ntcr et pnyo.ble J n.run ry 101 lOaf), nn d &om1-.~nnunlly t.h"rea.ttor on the
lOth day of J e.nutlry end lOth dey of July of' onob Yl:"f-11'; Ml!t the Troa.eurar
t>t oa.itt 01 ty 1o h orcby nuthorl.&fld -. ordered rtnd <l 1rnotcd to pn.y to
bll!tl.!'Ol": nn1 d '"1r1nc 1 ""·1 oum. tor;o th~r \?1 th 1 ntoront tb ~l'e<:m, evlclenced.
'by o ,...·u..oono att"cshqd h ·'roto , o.t the bt\n k nbovo Dlln"f)d, upon p!'coontn.t1on
nnd aw:t·tm d or of warrm1t or pro!)r.1r noopon; tm.d he lo turtho~ d 1rooted
to rcml t to CJai d Bt\nk the num or ourrn of lt'()noy ov1 <1e oood by thi s
~arr ~nt nnd nnno~ed oouPOna at loant ton (10) ~yo orlor to thn dnto
or n:~tur 1 ty thorf)of. and l f tho f\Um Ol' nu~ o f rr.oney rc proaont o~t by
thin "'arrfl..nt ftnd tho BDaxed ooupono ohnll not bo pn.1d at m~tur1 ty,
• he ewno shr.tl.l t.h orenftor bonr lnt e l"ost a' thG rnto of nlx oer centum
C a~) par unnu.m tu1tll fully p:ll d .
IT ID HEREDY GI' CIALLY AGRrED thn t it thlo wo.rro.t'lt, or
any tntcruot oouron h e reto Bt~u.ohed.. in not l,nid nt ~turl ty, and the
aomo 1o J'lnoGd 1n tho hand s of un ntto~no)' tor coll eot1on attor Jt.'ltur1 ty
thoroot, or suit 1o fllo d the r oon , or oolleot1on wade by lanG! nro-
co o<11~o of nny lcind, an e,."l<11 t1onnl n mount of ten Por contum (10~)
on tb~ princ1rAll n.nd 1 nteroo t. then ,1\lo oholl 'be n. Mod nn n.ttnrnov' '<t fonn .
TRI O WARRANT l a ono of n B&r1 ~o of eigb~eon (1 9) ~r.~nte ,
nunbered. oomo(m t.1v~ly from ono (1) to e1ghtftem (lA) 1mluo1ve1 of
tho (1nn('\n'l1Mt1on of' On " Tbouoa.n rl Doll n.~a (3 1 ,ooo .r:m) oo.oh , NT.rtrt"l f'::l.tlnM
E1Jr.htoon ThouaNHJ Deft Jnro CS l £1 ,0:1 0 .0") • l aonert for tho urpone Of
tund 1 re M cqunl amount o r 1 nt ob t odnor.o o t aat ~ 01 y of L u bl'l ook, hore-
totoro duly gnf lo~lly t acued• t b o l a 1~a for wh t oh w~ro dul y audited
n.nd nll.o wcd. cy t bo City Cn mrr.1ac1on pr1or to tho l\1Bl.t.'\noo ther e of, nn ct
for ~hiob oal d C1 t y hn.o rNJe 1 Ye ct tull wluo an 1 oono 1 ~t ernt1on nn<l
h ~rob y o.o · nOio'l e t g on son oot p t of ntur.t , 1\ncl wh l oh 1n ct oht.~:1ne n ft wan f.\uth or1 ucsd
by o r di nnno ~o duly nn d l~ly n Jo pt ed prior to ita 1 s;,mtano e, mo.t!o nnd
en red u r.>o n thll '1nut('O a of tho Ci t y O{'mlonton of n i d City; 1 t belng
kno ::n n.m1 und aratoott that thls w4:rrnnt , ao ~oll no all otherA o · t h in
ae r l ea • 1 s lseuod tor tbc dole ~r pone And 1ntont of 1.Und1ng ea14 out~
ttt "-n U.nrt 1 n1ebt ftdnc o r. 1nto tt '!l.rrt\nt • 1utbor1zod M d tnnued Mel whtob
are to bo pnl d out ot tll o 8psotal P\tntl1"3 Wa.rra.nt Pund, Sr.r1 a s 1924 ,
ot aai d CitJI and tho holder b oreot eh nll an d will ba aUbrogQtGd to a ll
th e r1~h te und pr1Y1 lego a ~~~1 nnt anl d City htul and ooon oed by tho
h oldorn o f f1t\1 d orl ~1Ml 1 n.:lcbto•1n noo , ln nccotdnnoo w1 tb tho Oonnts. ..
tut ion and lfl.WB ot th e Stnto of Texnn, and tba Ohart or ot na.t.d City
ot Wbooolr., an{l i n t?Uroun·1oe or nn o rd1nnnoe ador>tod 'hy thn Oitr
Oo mmiqs1on of the Cl ty o t Lubbock on the 11 tlt dny of Ap ril, 19.34 , wbl o'
11 l''Oordctl in Book s, p.~oe I VJ O et o .q . o f th., Ulnutee o t na1d
Ci ty Cornm1no1on .
The tin. to of th1e ~UTnnt, ln oonforrr 1 ty w1 th tho o r rl1 nnnoe
n.b o Ye n;o nt1oned. 1o Arrt.l 15, 1924 .
AN O IT I S trnlEDY CER'nli'Ilm A1ID n ECITrn t b nt 1\11 acta,
c on!J 1 t1onR and th1.J'CO rnqu l rctl t o bo rtone preco:ten t to and 1n t he
1enunnae of thl n warra nt have b e on p ro p crl y d ona n.n 1l oorformnd nnd lnve
hn.pnennd t.n regu lt'l r n.n 1 d U(l t1 wo , for,-. tt.n i mo.nnezo , a o l"O(lulred by l aw ,.
o.n d that the t o tal 1nt1 bto bHUJII or 6R1 d Ct t y, 1nolu :11 tR tll1 8 trt\rrnn ~.
ao o ~ not exceed nny c o n,t1 t ut1onnl or otn tutory lt ~1t ntion; that a
auft1c1 en t to.s to P,'l.J t ho ~1 no1 p al of and 1nt c roat on thio warrant
a t their r•a~o t ivo r.-.ntur1t1 c a, baa b e an l ov1 cd nncl ~111 be oont1nue•1
t o b e lovl ed , ooll ~ct n d 111n J t~pnll e d ln ooyrmnt thoroof.
%N TEGTi llOBY UtfERFX)tl' t he C1 t.y of tub book Mf1 01\Uocd tba
oorpo ate s eal of t he City to b o h reto aff ixed and thi n ~a rr nnt t o
be signed by tho rn.yor, c o u tora1gnod by the 01 ty fl B oret~r y and
r: J (
r •. (.;
I) .. -
IJ
-·
'l'bo fori' or 1nt.,t"eat oouoon abn ll be ot,bst;an t 1 f.Uy t\0
f ollowo : (Eiu'le~mt ooupon nunber ono whioh o hnll be f~Gr o1v,bt mon-thtl ' and
twenty five dnye f 1n ~~raat) we . _ C ao ~oo
OW THF lOTH DAY OF , ,10_
TRF OITY OF f.ttfiJBOCI• 1n LUbbock Ooun ty; Tex a3 • wtll f\t\Y to boiU'or. at
tbe Conti non t a.l a.n tl Ot1 mmerolt>.l Unt1onal Da nk, Cb1cago • lll1nolo. th-e
m:ur. ct Thirty Doll.aro COso .oo) bolng n1x ftl)ntbe ' lntc!)reot d tlB t ha.t df.\te ·
· · Bo . .
on CITY OF LUBooet WNDING WAJUtAil'l' , Si:RIES 19~./d a,ed l orll 15• 19:14.
to wh1eh thlo ooupen lB ~ttnohGd and 1a 4 part tb nreot.
fl"-yor
e. IT ta FUi'?!ftF.n ORDAINED by on.S.d City tha t ont d or1 r:1nal
1ndeb t odnaoa hore 1nbutore iro1l t loao a and doaortbed be u.nJ the acu$ 1e
herebf 1n o.l l tb1nga vl\.llcll).te 1 Md held an'l deoln.~ed to bo val1d1
aubo1 n tlng , 'b1ndl r.u And unoat1st1od obl1 gat1one aga inst on.1c1 Otty, rmtl
tht! o.ota of th ~ ·ol ty otf1o1QJ.a 1n tbo lo1Jua.noe ot the evld enoa a t horeot
are he r e b y in all th 1~c rat1f1ed an d oontlrmftd .
9 . IT IS Ftn1THER onDAINtm tlu~.t a. f u nd bs a nd the Ga.rrAa
t.o herel~f mado n.n d orcatod o.nd oh n,ll be net a.nlde nt\1'1 d e olgnn.t<td aa
lfS'D'F.OIAt VONDtNO WARRAWP JUtro • BElliES 19M• whtob fund whan ooll 1etod.
nhall 'b (! uaod to sm.y t h ~, int e rest on Md "Provl cl e tho noceaoo..-y o1nklng
t'tm4 t o Pf.\Y the prl not p:\1. of Bf\1 d w arr~ .. ntn at rmtur1 t71 mtc1 for no
other ourpo•o • Tha t to ol'Ga.to nul d tund to :-n.y thr, i!'to:reot on n ald
wa.rrfl.nto end tho Qr 1nc1 po.l the reof o..t mo. turt ty• e. t n x o f and nt tl\o 1'n tn
of s1~ oonto (a¢) on tho tloo .oo valuat ion of n ll t o.xn.ble p ro rv rty in
11at d 01 ty oht\ll be ann un.lly l e vie d , aoeno oe d tt.nd coll oot ~d ; nn d a f.\14
·'
~·· 0
ta't 1 e bore now lav1 ed t or tho OU J~ront yeQ.I', tUl .tt oo m.aob thereo f n.s
mh n ll bo ne c·Qaoary t or oaotl ouooead1ng yotl.r wh1ltJ an.id warranto , Ol'
any ot them nre outetnnutng o.nd ,1nr>a1<l , and the fJnms oha.ll bo n.nnunJl y
aaseouod C\nd o ol lcotod n.n4 a~lictd t o tbo PUr--ot.Jo n umB<!.
10 . I T I S FUR1HER ORDAINED that l n n~l 1t1nn to tho
the tax b.oro1n l~vi od to PG.Y th e 1 ftteront on. nnd pr nos. n.~l of &B.1t1
•art'(l.ntG , t\ eutf1a1 ent nmo u nt o f tbo r ov nnueo derl vod <f'l"'m the
operl'lt l on ot th e ctleot ric ligh t plant an d · e.torf or}·n and owa r oyntema
of cn1d City ohnll bft and tho oeme lo btlreby irrovoon.bly plo,igod to
oret!to n. fund to m y tl•, intere st nnd t:>~1rto1 ~l of tJ0.1.1 \lfn rrnn to at
th e ir rl)a '"'-oo t1 , ... mn.tu ri ty dttto9.
11 . Th@ fAc t th~\ tho City Oomm1ca1on d ~omn .1 t advin~ble
nnd to t h e b ~et 1ntera ot o t tho C1ty t o ~es~t stety fUnd the outR nnd-
1ng lnd&bt cdno oe horn1nbefcr~ wantlonod , ao noon aa ~raot 1 nablo .
o r 1ntoo ft.n cHeetrgenc r Md n.n 1 mpernt 1 vo publ1o neo cos1 ty that tho
rule roqu 1r! ng o rdl n o. noes to be road at l!oro thRn one rnentlng d! tho
Otty C~~~i nct on bo BUA POn Jod , Gn d 1t 1D no o~dnlned , an l th l n oru1nan oo
ah 11 ~nko e ftc ot and bo i n force fro m an utt e r lta panaagc and
a.pn-oval.
Paaood thin tllQ 11th do.y o t A i til , 192'•
-Approv ed. th1 B tho lltll do.y o t .l nrt l , 19 4 .
~~.Tex a n ,
~------------~----~~-~~~--~~----~~-
1'tir eTATF OF TEXAS )
COll"'TY 01"' !.tmOO CK )
I, J . R. Go~tn y, 01 ty SQCrettlry of th" 01. ty of
tubbook, ToxR.o , 1o b ~-r oby oo:r t1 ty thtt.t the ab ove nn ~t toro~(')lnt'! i tt a
truo full rmd o{)r reot OOPJ' o f the Ut nutoc of +-h~ 01 t y Cor"11tlnoton
of t~e C1 y of Lubbock , tnxao , and o r th a o rdi rw.noe pa.enod b y said
Com~l ~io n on the lltb ~Y ot Aprllt 1934 , rcoorde4 1n Book 3 , PBRee tq-o at tJ ~,q . nt the l.ttnut "'o o t at\ d 0(')mr.iao1on .
I fut"tb~r oort1 ty that nlli d ordin nn oe an Moptod l>Y
thrt follo .. .l,n~ "f'O~t .... 0 ~ .
MI~J ~· 1"'4' '~ ~ ayao
No nays
DI VEN UNDER l'f HAnD ~ L OF OFI'IOE , thio ~ho t.:J:::-
dtly of APrtl , 1924 .
Lttl>'book, Texno .
ORDINANCE NO. 253.
AN ORDINANCE AMENDING ORDINANCE NO. 251 PASSED ON THE 24th DAY OF
:MARCH 1924 PROVIDING FOR THE :IS SUANCE OF SIX PER CENT WARRANTS FOR 'i'HE
PURPOSE OF FUNDING CERTAIN VALID OUTSTANDING INDEBTEDNESS OF THE CITY
OF LUBBOCK TEXAS LEVYING THE NECESS~ffiY TAX TO PAY THE INTEREST AND
PROVIDE SUFFICIENT SINKING FUND TO RETIRE SAID WARRANTS AT MATURITY AND
DECLARING AN EMERGENCY.
WHEREAS, heretofore, on the 24th day of March 1924, the vity Commission
of the City of Lubbock, Texas, passed an ordinance providing for the
issuance of $18,000.00 six per cent CITY OF LUBBOCK FUNDING WARRANTS
SERIES 19.24, for the purpose of funding certain valid outstanding indebt-
edness of said City11 the same being Ordinance No. 251, recor:r!ed in .Book
3 pages 182 et seq., of the Minutes of said Commission; and
WHEREAS, there being a vac a ncy in the office of Mayor on said date,
said ordinance provided that said warrants be signed by the Mayor Pro
~empore of said City; and
WHEREAS, some question has arisen as to the regularity of s~d pro-
ceedings, and in order to meet the objections which have been raised
the City Commission deems it advisable to ~end said ordinance, and the
same is therefore hereby amended so th ~t is shall hereafter be and read
as followsr
BE IT ORDAI1"'ED BY THE CITY OF LUBBOCK TEXAS.
1. That warrants of said City, to be called •ciTY OF LUBBOCK FUNDING
WARRAN'rS, SERIES 192e• be issued under and b y virtue of the Constitution
and laws of the State of Texas, for the purpose of funding an equal
amount of indebtedness of said City, duly and legally issued, and which
are valid, subsisting and now outstanding obligations against said City,
the claims for which were duly audited and allowed by the vityGommiss-
ion prior to the issuance thereof, said original evidence of indebtedness
being as follower
DATE NUMBER TO WHOM ISSUED PURP OSE AMOUNT
4-13-23 2632 s. W. Gen •1 Elect. Co. Electric Supplies $ 982.42
4-14-23 2634 Clowe & Cowan Waterworks 195.72
4-25-23 2637 American La France Fire Apparatus 1250.00
5-16-23 2642 s.w. Meter ~ox Co. Meter Box 112.50
6-7-23 2643 s.w. Gen'l.Elee.Co. Electric ~upplies 2826.04
6-11•23 2644 Lubbock Kch.Co. w " 128.00
6-19-23 2648 Clowe & Cowan Waterworks 97.92
7-21-23 2654 Ferguson Eng.Co. Work on Switchboard 114.10
8-16-23 2656 Clowe & Cowan Waterworks Supplies 498.10
9-16-23 2658 Briggs Weaver Mch.Co. Water Pump 137.97
10-17-23 2659 Clowe & Cowan2 Waterworks Supplies 229.01
10-17-23 2662 Cullum Bros. Elec. Supplies ~ 300.00
12-4-23 2662 Clowe & Cowan Waterworks ~ 356.70
12-10·23 2665 Simpson Elec.Co. ~lee. Light " 118.88
12-11-23 2666 Westinghouse Elect. Electric Light 1172.00
12-12-23 .2667 Austin Bridge Kch. Repair Pts.Grader 240.00
12-12-23 2669 Western Elact.co. Elec. Lt.Supplies 1041.29
12-15-23 2672 American Well Wks. Waterworks 489.50
12-15-23 2673 Wm.Tubbs. :Blk.6 OT "Real Estate 3600.00
12-15-23 2674 E.Gilliland 9.85 A Land Sewer Dept. 985.00
2-8-21 2715 s.w. Gen'l. Ele c.Co. Electric Supplies 3124.85 !e,ooo.oo
2. Said Funding warrants shall be numbered from one (1) to eighteen (18)
inclusive, shall be of the~nomination of One Thousand Dollars (~1,000.00)
each, aggregating the sum of Eighteen Thousand Dollars ($18,000.00)
3. l.'hey shall be dated April 15, 1924, and shall mature and become due
and payable as follows:
WARRANT NUM:BERS
2.
2
3
4
5 "
6
7 & 8
MATURITY DATES
January 10, 1929
JanuaJl'y 10, 1930
Janu:=try 10, 1931
January 10, 1932
J"anuary 10, 1933
January 10, 19'31
January 10, 1935
AMOUNT
~1,000.00
1,000.00 1,ooo.oo 1,ooo.oo 1,ooo.oo
1,oo~.oo 2,ooo.oo
Ord. # 253 -Pg.2.
9 &: 10
11 &: 12
13 & 14
15 & 16
17 & 18
January 10, 1936
.January 10, 1931'r,
Januqry 10, 1938
January 10, 1939
January 10, 1940
2.ooo.oo 2,ooo.oo
2, ooo.oo
2,.000.00
2,000.00
4. Said warrants shall bear interest at the rate of six per centum (6%1
per annum from date until paid, paya ble January 10, 1 925 and semi-annually
thereafter on the lOth day of J'anuary and lOth day of .July of each yea r·,
which interest shall be evidenced by coupons attached to each of said
warrants. Past due interest shall bear interest at the rate of six
per cent (6%) per annum from maturity until paid.
5. Principal and interest of said warrants shall be payable in lawful
money of the United States of America upon presentation and surrender
of warrants or proper coupons at the Continental & Commercial ~ational
Bank, Chicago, Illinois, said warra nts shall provide th t in the event
of default in the payment of principal or interest, and same is placed
i n the hands of an ~Uorney for collection or if collected by sut, or by
lega l proveedings of any kind, an additional amount of ten per centam
(10%) on the principal and interest then due shall be added as attorneyrs
fees.
6. Said warrants shall be signed by the Mayor, countersigned by the
City Secretary and registered by the City Treasurer, and the seal of tm
Uity shall be impressed upon each of said warrants. ~ac simile signatar-
es of the Mayo~nd City Secretary may be lithographed upon the interest
coupons. ·
7. the form of said warra nts shall be substantially as follows:
NO. $1,000100
UNITED STATES OFAMERICA
STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK :FUNDING WARRANT SERIES 1924.
-. .. _ .... ___ _
THIS IS TO CERTIFY tha t the City of Lubbock, in the County of Lubbock,
and State of Texas, acknowledges itself indebted to, and for value
received hereby promises to pay to bearer, at the c·ontinental and
Commercial National Bank, Chicago, Illinois, on the lOth day of
Janu ~ry, 19 ___ , the principal sum of
ONE THOUSAND DOLLARS ($1, 000. 00)
in lawful money of the United States of America, with interest thereon
from date hereof until paid, at the rate of six per centum (6%) per annum
interest payable January 10, 1925, and semi-annually thereafter on the
lOth day of January and the lOth day of July of each year and the
treasurer of said City is hereby authorized, ordered and directed to pay
to bearer said principal sum, together with interest thereon, evidenced
by .coupons attached hereto, at the bank above named, upon presentation
and surrender of warrant or proper coupon; and he is further directed to
rem i t to said Bank the sum or sums of money evidenced by this warrant
a nd annexed coup ons a t least ten (10) days prior to the d ~te of maturit¥
the reof, and if the sum or sums of morey represented by this warrant
and the annexed coupons shall not be paid at maturity the same sha 11
there ~fter bear intere st at the rate of six per centum (6%) per annum
until fully paid.
IT IS HEREBY SPECIALLY AGREED that if this warrant, or any interest
coupon hereto attached, is not paid at maturity, and the same is placed
in the hands of an attorney for collection after mnturity thereof, or
suit is filed .thereon, or collection made by legal proceedings of any
kind an additional amount o~ ten per centum (10%) on the principal and
interest then due sha ll be added as attorney'_s fees.
'!'HIS WARRANT is one of a series of eighteen (18) warra nts, numbered
consecutively from one (1) to eighteen (18) inclusive, of the denomina-
tion of One . Thousand Dollars ($1,000.00) each, aggrega ting Eighteen
Ord. # ZV v -Fg.3.
Thousand Dollars ($18,000.00) issued for the purpose of funding
an equal amount of indebtedness of said ~ity of Lubbock heretofore
duly and legally issued, the claims for which were duly audited and
allowed by the City Commission prior tothe issua nce thereof, and for
which said City has received full value and c onsideration and hereby
acknowledges receipt of same, and which indebtedness was authorized by
ordinances duly and legally adopted prior to its issuance, made and
entered upon the Minutes of the City ~ommission of said ~ity; it being
known and understood that this warrant, as well as all .others of this
series, is issued for the sole purpose and intent of funding said out-
standing indebtedness into warrants authorized and issued and which are
to be paid out of the Special Funding Warra nt Fund, Series 1924 of said
City; and the holder hereof shall and will be subrogated to all the
rights and privileges against said City had a nd possessed by the holders
of said original indebtedness, in accordance with the Constitution and
laws of the State of Texas, and the Charter of said City of Lubbock,
and in pursuance of an ordinance adopted by the City Commission of
the City of Lubbock on the 11th day of April 1924, which is recorded in H
Book 3 pages 190 et seq., of the Minutes of said ~ity Commission.
'l'he date of thi e warrant, in conform! ty with the ordinance above
ment i oned is April 15, 1924.
AND IT IS HEREBY CERTIFIED AND RECITED tha t all acts, conditione and
thi ngs required to be done precedent to and in the issuance of t h ia
warrant have been properly done and performed and h a ve happened in
regular and due time, form and manner, as re quired by law, a nd that the
total indebtedness of said City, including this warrant, doe~ot
exceed any constitutional or statutory limita ti on; that a sufficient
tax to pay the principal of and interest on this warrant at their
respective maturities, has b e en levied and will be continued to be
levied, collected and applied in payment the reof.
IN TESTIMONY WHEREOF the City of Lubbockbhas caused the corporate seal
of the City to be hereto affixed and this warrant to be signed by the
Mayor, countersigned by the City Secretary and registered by the City
'l'reasurer, as of the date last above mentioned.
City Secre t a ry, City of Lubbock,
'.1'exas.
Registered:
iayor, City of Lubbock,
"£exas.
City Treasurer, city of
Lubbock, Texas.
The form of interest coupon shall be substantially as follows~ (Except
coupon number one which shall be for eight months' and twenty five d~s'
interest)
No. ___ _
ON THE lOTH DAY OF 19 -----
tHE CITY OF LUBBOCK IN Lubbock, County, Texa s, will pay to bearer, at
the Continental and Commercial N~tional Bank, Chicago, Illinois, the
sum of t hirty Dollars ($30.00) being six months' interest due that date
on CITY OF LUBBOCK FUNDING WARRA NT SERIES 1924, d ~ted April 15, 1924 m
wr ich t h is coup on is attached and is a p a rt thereof.
dity Secreta ry. Kay or
e. IT IS FURTHER ORDAINED by said City th ~t said original indebtedness
hereinbe f ore mentioned and described be and the same is hereby in all
things valida ted and held and declared to be valid, subsEting, binding
and unsatisfied obligations against said City, and the acts of the City
officials in the issuance of the evidences thereof are hereby i~ll
things ratified n nd confirmed.
r
Ord. # kv u-1 Pg. 4.
9. IT IS FURTHER ORDAINED that a fund be and the same is hereby made
and created and shall be set aside and designated as •sPECIAL FUNDING
WARRANT FUND SERIES 1924• which fund when collected shall be used to
pay the interest on and provide the necessary sinking fund to pay the
principal of said warrants at maturity, and for no other purpose.
~hat to create said fund to pay the interest on said warrants and the
principal thereof at maturity, a tax of and at the rate of six cents
{6¢) on the ~100.00 valuation of all taxable property in said Uity
shall be annually levied, assessed and collected; and said tax ~ here
now levied for the current year, and so much thereof as shall be
necessary for each succeeding year while said warrants, or any of them
~re outstanding and unpaid and the same shall be annually assessed ·
and collected and applied to the purpose named.
10.. IT IS FURTHER ORDAINED that in addition to the tax herein levied
to pay the interest on and principal of said arrants, a sufficient
amount of the revenues derived from the operation of the electric
light pland and waterworks and sewer systems of said City shall be
and the same is hereby irrevocably pledged to· create a fund to pay
the interest and principal of said warrants at their res~ctive maturity
dates.
11. ~he fact that the City Commission deems it adgiaable and to the
best interest of the City to immediately fund the o~tanding indebted-
ness hereinbefore mentioned, as soon as practicable, creates an
emergency and an imperative public necessity that the rule requiring
ordinances to be read at more than one meeting of the City Commission
be suspended, and it is so ordained, and this ordinance shall take
effect and be in force from and after its passage and approval.
Passed zxz this the 11th day of April, 1924
Approved this the 11th day of April, 1924.
ATTEST:
J.R. Germany
City Secretary
City of Lubbock, ~exas.
F.R.FRiend
Mayor, City of Lubbock,
~exas,