HomeMy WebLinkAboutOrdinance - 1398-1953 - Authorizing Issuance Of $425,000 Park Bonds - 05/26/1953I
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Ordinance No. 1.398
AN AMENDATORY ORDINANCE RELATING TO AN ORDINANCE
AUTHORIZING ISSUANCE OF $425,000 "CITY OF
LUBBOCK, TEXAS, PARK BONDS, SERIES 195311 ,
DATED JUNE 1, 1953
THE STATE OF TEXAS I
CITY OF LUBBOCK
COUNTY OF LUBBOCK
ON THIS, the 26th day of May, 1953, the City Cornmis.-
sion of the City of Lubbock, Texas, convened in special session,
at the regular meeting place thereof in the City Hall, with all
members thereof present, to-~:
MURRELL R. TRIPP, MAYOR, Presiding;
HARRY MORRIS HURLEY CARPENTER l
LUCIAN THOMAS COMMISSIONERS,
L~ E. DAVIS and
MRS • LA VENIA LotrlE, CITY SECRETARY,
also being present; at which time the following, among other
business, was transacted, to-wit:
Commissioner ___ T~~~o_mas _____ presented for the consider-
ation of the City Commission an amendatory ordinance relating
to an ordinance authorizing· the issuance of "CITY OF LUBBOCK,
TEXAS, .PARK BONDS, SERIES 195311 , dated June 1, 1953, in the
principal sum of $425,000 (being the second and final parcel
or installment of a total ,voted authorization of $625,000 bonds).
The ordinance was read in full by the City Secretary.
Thereupon, Commissioner -~C:.:ao:..rnj;;;.;e~nt::.;:er:..-_ moved that the
rule requiring that no ordinance shall be passed on the day on
which it is introduced be suspended, and that in view of the
I'
emergency set forth and defined in the preamble to the proposed
ordinance, that the same be declared an emergency measure.
This motion was duly seconded by Commissioner --~M~o~r~r1~·~s __ _
The motion carried by the following vote:
AYES: Mayor Tripp and Commissioners Carpenter,
Morris, Thomas and Davis.
NOES: None.
Thereupon, Commissioner --~T~h=oma~s~ __ moved that the
ordinance as read in full by the City Secretary be finally-
passed and adopted by the Commission. This motion was seconded
by Commissioner ___ D_a_~_·_s _____ , and the motion, carrying with it
the final passage and adoption of the ordinance, was unanimously
carried by the following vote:
AYES: Mayor Tripp and Commissioners Carpenter,
Morris, Thomas and Davis.
NOES: None.
Thereupon, the Mayor announced that the ordinance had
been finally passed and adopted by unanimous vote of the Com-
mission, in accordance with the requirements of Sections 15,
16 and 17, of Article IX of the Lubbock Charter; and the Mayor
thereupon signed and approved the ordinance in the presence of
the Commission.
The ORDINANCE is as follows:
NO. :1.398
"AN ORDINANCE , by the City Commission of the City of
Lubbock, Texas, amending the ordinance passed
and adopted on the 24th day of April, 1953,
authorizing the issuance· of $425,000 'CITY OF
LUBBOCK, TEXAS, PARK BONDS, SERIES 1953' , dated
June 1, 1953 (being the second and final parcel
or installment of a total voted authorization of
$625,000 bonds); enacting provisions incident and
relating to the subject and purpose of this ordi-
nance; and declaring an emergency."
WHEREAS, heretofore, to-wit: on the 24th day of
April, 1953, the City Commission of the City of Lubbock, Texas,
pursuant to authority conferred by a majority of the qualified
voters of said City, voting at an election held for that pur-
pose on the 26th day of September, 1950, duly passed and
entered of record an ordinance authorizing the issuance of said
City 1 s bonds to be known as "CITY OF LUBBOCK, TEXAS, PARK
BONDS, SERIES 195311 , dated June 1, 1953, in the principal sum
of $425,000 (being the second and final parcel or installment
of a total voted authorization of $625,000 bonds); and '
WHEREAS, in sections 3 and 4 of said ordinance there
appear certain typographical errors in the maturity dates of
said bonds; and
WHEREAS, it is now considered necessary and advisable
that the aforesaid ordinance of April 24, 1953, be amended to
correct such errors; and
WHEREAS" it is FOUND, DETERMINED AND ADJUDGED that
it is necessary and to the best interest of the City to amend
the aforesaid ordinance of April 24, 1953 in order that the
City may provide funds for the purpose of purchasing and/or
improving lands for public parks in and for said City at the
earliest possible date, for the immediate preservation of the
public peace, property, health and safety of the citizens of
the City of Lubbock, Texas, and that by virtue thereof this
ordinance should be passed and adopted as an emergency measure;
therefore
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
LUBBOCK:
SECTION 1: That the ordinance passed and adopted as
aforesaid on April 24, 1953, authorizing the issuance of
$425,000 11City of Lubbock, Texas, t'ark Bonds, series 1953",
dated June 1, 1953, be, and said ordinance is hereby am&ndad
as follows:
(a) Section 3 of said ordinance shall hereafter read
and provide as follows:
"SECTION 3: That said bonds shall be dated June 1,
1953, and shall become due and payable serially according to
the following schedule:
BDND NUMBERS
{All Inclusive) MATURITY DATES AMOUNTS
1 to 15 June 1, 1954 $15,000
16 to 30 June 1, 1955 15,000
31 to 45 June 1, 1956 15,000
46 to 60 June 1, 1957 15,000
61 to 75 June 1, 1958 15,000
76 to go June l, 1959 15,000
91 to 105 June 1, 1960 15,000
106 to 120 June 1, 1961 15,000
121 to 135 June 1, 1962 15,000
136 to 150 June l, 1963 15,000
151 to 165 June l, 1964 15,000
166 to 180 June 1, 1965 15,000
181 to 195 June l, 1966 15,000
196 to 210 June l, 1967 15,000
211 to 225 June 1, 1968 15,000
226 to 245 June 1, 1969 20,000
246 to 265 June 1, 1970 20,000 .
266 to 285 June l, 1971 20,000
286 to 305 June 1, 1972 20,000
306 to 325 June 1, 1973 20,000
326 to 345 June l, 1974 20,000
346 to 365 June 1, 1975 20,000
366 to 385 June 1, 1976 20,000
386 to 405, June 1, 1977 20,000
406 to 425 June 1, 1978 20,000 II
{b) That section 4 of said ordinance shall hereafter
read and provide as follows:
11SECTION 4: That the said bonds shall bear interest
from date until paid at the following rates per annum, that
is to say --
(a) Bonds Numbered 1 to 75, both inclusive,
(maturing on June lst in each of the years 1954 to
1958~ both inclusive) shall bear interest at the
rate of THREE AND ONE-HALF PER CENTUM (3-1/2%) per
annum; and
{b} Bonds Numbered 76 to 425, both inclusive,
(maturing on June lst in each of the years 1959 to
1978, both inclusive) shall bear interest at the
rate of THREE PER CENTUM (3%) per annum;
such interest to be evidenced by~roper coupons attached to
each of said bonds, and said interest shall be payable on ·
June 1st and December lst in each year, the first interest
payment date to be June 1, 1954."
SECTION 2: That except as amended in conformity with
the foregoing, said ordinance of April 24, 1953, is hereby
RATIFIED, APPROVED AND CONFIRMED.
SECTION 3: That the public importance of this measure
and the fact that it is to the best interest of the City to
amend the aforesaid ordinance or April 24, 1953, as hereinabove
set forth, in order that the City may provide funds for the
purpose of purchasing and/or improving lands for public parks
in and for said City a~ the earliest possible date, for the
immediate preservation of the public peace, property, health
and safety of the citizens of the City of Lubbock, constitute
and create an emergency and an urgent public necessity1
requiring that this ordinance be passed and take effect as an
emergency measure, and that this ordinance is accordingly
passed as an emergency measure and shall take effect and be in
force immediately after and from its passage.
PASSED AND APPROVED, this the 26th day of May, 1953.
ATTEST:
(City seal)
..... ./
CERTIFICATE OF CITY SECRETARY
THE STAOFTE OF TEXAS I
CITY LUBBOOK
COUNTY OF LUBBOOK
I, the undersigned, City Secretary of the City of
Lubbock, Texas, DO HEREBY CERTIFY that the foregoing ~is a
true and correct copy of an amendatory ordinance relating to
an ordinance authorizing the issuance of $425,000 11City of
Lubbock, Texas, Park Bonds, Series 195311 , dated June 1, 1953,
adopted by the City Commission of said City on the 26th day
of May, 1953, (and Minutes pertaining to its adoption), said
ordinance having been recorded in Book ~~ page 531 et
seq., of the Minutes of said Commission.
IN WITNESS WHEREOF, I have hereunto signed my name
officially and affixed the seal of said City, this the 26th
day of May, 1953.
of Lubbock,
(City seal)