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HomeMy WebLinkAboutOrdinance - 138A-1916 - Contract Between City Lubbock For Purchase Block Of Land - 07_10_1916AN OltDIBM ORRATIFYINGI';.i9I? CONFIRMING COBTRAOT ENTERED INTO BYANDBETMMNTHECITYOFLUBBOCKANDoxd . FOR THE PURCHASE OIL A CERTAIN BLOCK OF LANDUSEDFORCITYHALLPURPOSESINANDFORSAID CITY; PROVIDING FOR THE ISMAN: E OF SIX PMOEMT WARRANTSITSPASTFORSAIDLANDABDLEVYINGTHEHEOESSARYTAXTOPAYTHEINTERESTAIDPROVIDESUFFIDIF.;NTSINKINGFUNDTOREDEEMSAIDWARWTSATMATURITY. RHERLAS, the City of Lubbock has entered into a contract with for the purohaee of a cobtain blear Of land to be used for City Hall purposes in and for said City, which said contract of purchase is in words and figures as fo ll owes s THE STATE OF TEXAS( COUNTY OF LUBBOCK j HNO ff ALL MEN BY THESE PRESENTS: CIT'r OF LUBBOCK That this contract, made and entered into thiB the / 4r day of duly, 1916, by and between the City of Lubbock, a municipal oorporatt.on in the County and State aforesaid, and WITNESSETH: The said a agrees to sell to the said City of Lubbock all that pertain block of land lying and being; in the City of Lubbock, Lubbock County, Texas, described as follows: All of lots one (1) to tOenty (20) inclusive, Bloch No. eighty-seven (87) Original Town of Lubbock, Texas, as recorded on pages 384 and 3859 Volume 5, Deed records of Lubbock County, Texas. and agrees to aoeept in payment therefor legally issued warraAte of the City of Lubbock aggregating the sum of Nine Thousand DkIlars , maturing serially three, six and nine years after date, bearing interest at the rate of six peroent per annum from date until paid. And the said City of Lubbock agrees to purchase from the said .z; L CZ the €above described property for City Hall purposes in and for said City, and to issue in pg;?ment t'here- for ito warrantB aggregating Dine Thousand Dollars (09,000.00) maturing serially three, six and nine years after date, bearing .. Interest at the rate of six peroent per annum,from fte until paid. 1. d M, IN TESTIMONY T EREOP the City of Lubbook, Texas, hascausedtheasrporatesealofsaidCitytobeheretoaffixedandthisoontraattobesignedbyitsMayorandattestedbyitsCitySeoretery, and the said hascausedthiscontracttobesignedbyhisdulyauthorizedagent , t hi a the L o dam' o f :tay, 1916, CITY OF MBBOCS, TEXAS, BY yor. Attest: City Score ary NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE C ITY00F LUBBOCK, TRIA9 l: That said oontraat of puroheee between the said City of I,ubbaak and the said having been reigned and executed for and in behalf of the said City by its Mayor, attested by Its 9eoretary and the same having this dal been fully read and understood, the ,aid contract I& harvbT ratified, approved azA confirmed and adopted as tre act and con- traot of said City, and the same shall have effect according to Its tenor and purport, and dhall be entered upon the 11inute s of this City council. 8 : That the said. sum of Nine Thousand Dollars ($9 , 000.00 ) provided for in said contract as the purwhase prioe to be paid for said property Is hereby made and declared to be the lawful debt of said City of Lubbock. 3: That in aocardance with said contract, warrants of said City shall be Issued to the said in the sum of Nina Thousand Dollars ($9,000.00) evidencing the purchase prioe of said property, 4: Said warrants shall be for the sum of Three thousand ill be payable 3, 6 and 9, years after date I shall beer interest at the rate of six percent S . 1 ii :J :Y. r• ice. --. - ili, .' , J . ' .. .. .. -. n: _ -rpermnumfromdateuntilpaid. Bt IT IS FURTHER ORDAIHSD that to psy the interest onsaidwarrantsandprovideforsuffiaientsinkingrandtoredeem at maturity a tax of and at the rate of ;; .,.. , (4) cents on each One Hundred Dollars valuation of all teaabale property In the said City of Lubbock shell be annually levied, assessed and oolleoted, and said tax is here now levied for the current year and each succeeding year vile said warrants or any of them are outstanding, and the same shall bb annually assessed and oolleoted and applied to the purposes named. Passed and approved this the 0 day of July, 1)16, 4fir, 41k ook, ease. UiroprW, THE STATE OF TEXAS j COUNTY of UEeOCK I, City Secretary of the City of Lubbock. xas, do hereby certify that the above and foregoing is a true and correct copy of a oontraot of purchase entered into by end between the City of Lubbock and d and of an ordinance adopted by the City Couhoil of said City on the;4day of July, 1916, as the same appears of record in Book _--, page Z of the Minutes of said Oity Council. GIVEN UNDER MY HAND and seal of office, this the day of July, 1916. W4 I0 i. 'i:s T`_1 ' rr u3s ry aTOL i ; j C L^- -- l, ..ern`.