HomeMy WebLinkAboutOrdinance - 179-1918 - Six Percent Interest Bearing Warrants For The Purpose Of Funding Indebetedness. - 07_29_1919ORDINANCE N0. 179. AN ORDINANCE PROVIDING FOR THE ISSUANCE OF (6%) SIX PERCENTINTERESTBEARINGWARRANTSFORTHEPURPOSEOFFY311IDINGCERTAINOUTSTANDINGINDEBTEDNESSOFTHECITYOFLUHBOCH= TEXAS= LEVYINGTHENFCESSARYTAILTOPZYTHEIITMSTAID]] PROVIDE I SIDING FUNDTORETIRESAIDWARRANTSATMATURITY# AM DECLARE AN FMMGENCY. MOREA.S the City Commission of the City of Lubbock has determinedtheimmediatenecessityofissuingFundingWarrantsforthePurposeofFundingcertainvalidOutstandingindebtednessofsaid CityThereforebeitordainedbytheCityOmissionoftheCityofLubbock,.
Texas,
1, The Warrants for said City to a called City of Lubbock Funding
Warrants* be issued under and by Virtue of the Constitution and
Laws of the state of Texasy for the purpose of Funding and equal amou mt
of Ir debtedness of said City duly and legally issued, and whAnh is a
valid, sub6isting and now outstanding obligations against the Said eff#
the claims foAhich were duly audited and allowed by the City COMissicn
prior the issuance hereof* an*hieh is to be cance led and th6
evidences there are sureddered-p, and the warrants hereby authorised
issued to the holder or holders in lien thereof, which said original
evidences of indebtedness are as follows:
2. Said Warrants shall be numbered from 1 to 10 inclusive# and
shall be in the denomination of $ 500 00 Five Hundred Dollars, aggre-
gating the s, -of ($ 5000.00f Five Thousand Dollars.
3, They shall be dated -duly 29th, 1919, and shall mature and
become due any payable as follower
WARRA19T NULUMS MATURITY DATES AMOUNTS
1 & 2
30 4 Et 5
6 & 7
at 9&10
July 29th, 1920 $ 1 000000
1921 19500,00
a 1922 19000.00
1923 1 500„00
4. Said Warrants shall bear interest at the rate of 6% six per-
cent pe r annum from the date until paid; Interest payable semi-
annual.ly can the 29th day of January and the 29th day of duly of each
year, principal. and Interest payable at the First National Bank* in
Sanit Luis, mo., upon presentation and surrender of warrants or prop-
er coupons
5. Said Warrants shall be signed by the Mayor, countersigned
signed by the City Secretary, and registered by the City Treasurer, and
the seal of amid City shall be impressed upon each of them. The
in a eat shall be evidenced by coupons attached to each of said Warrahts,
and the simile eighature of the Mayor and the City Secretary may be
lithographed upon each of said coupons.
6. The Form of warrants shall be substantially as Follows:
No. r 4500.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK FUNDING
WARRANTS*
TRie is to certify that the City of Lubbock, in the County of
Lubbock, and state of Texas, acknowledges itself indebted to and for
value received hereby promise to pay to bearer, at the First National
Bank, in St. Louis, Mo. on the 29th day of ,Tuly, 19 , the principal
sum of
FIVE HMREDDOLLARS 500.
00) with interest hereon from date hereof at the rate of (6%) six
per cent per annum payable semi. -annually on the 29th day of January and
the 29th day of duly each year; and the Treasurer of said City is hereby
authorised, audited and directed to pay to bearer said principal
AtOrd. 179 - Pg.2, tstinttogetherwithinterestthereon, evidenced by coupons attachedhereto, principal and interest payable at the Bank above named, uponpresentationandsurrenderof 'Currants or proper eouponst and saidTreasurerisfurtherdirectedtoremittosaidBankthesumDUMBofmoneyevidencedbythisWarrantandanexedcouponsatleapttendayspriortothedateofmaturitythereof, and if the scam of moneyrepresentedbythiswarrantandannexedcouponsshallnotbepaidatmaturity, h same shall thereafter bear interest nt the rate ofsixpercentt5j) per an"um until fully paid+ THIS TAR7AN7 is one of a series of ten (10) warrants* numbered
conse4u,tively from One JI) to ten 110) inclusive, in the denomination
of Five hundred Dollars $500*00) each, aggregating the sum of Yive
Thousand ($5,000*00) issued for the purpose of funding an equal amount
of indebtedness of said City heretofore duly and legally iseuedt the
claims for which were duly audited and allowed br the City Commission
prior to the issuance thereof* and for which said city has received
full ooneidera.tbn and value and hereby acknowledges receipt of same,
and which Indebtedness was authorised by Ordinance duly and legally
adopted prior to its issuance made and entered upon the Minutes of the
City -Commission of said City; 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 outstanding indebtedness
into warrants authorized and issued in compliance -with the constitution
and liva of the tstate of Texas, and the6ity Charter of said city, and
persuance to AN OORDIPANCE passed by the City Commission of said City6n
he 22nd day of duly, 1919, which ORDINAL is recorded in Book 29 page
478 et seq. of the Minutes of said City Cotmxission,
THE DATE OF THIS WARRANT, in conformity with the Ordinance above
mentioned is duly 29th, 1919.
And it is hereby certified and recited* that all acts, conditions and
things required to be done precedent to and in the issuance of this
warrant have been properly done, happened and performed in regular and
due time, form and manner as required by law and that the total
indebtedness of said city, including this- warrant; does not exceed aby
constitutional or statutor limitations; that a sufficient tax to pay
the principal and interest of this Tarrant at their respectiv,: maturity,
has been levied and will continue to be levied collected and applied
in payment thereof.
IN TESTIMONY M ERE071, the City of Lubbock has caused the Corporate
Beal of the Oity to -be here to affixed and this warrant to be signed
by the Mayor; countersigned by the City Secretary and registered by the
City Treasurer as ofthe date of last above mentioned,
COUNTERSIGNEDs
City Recyt 171ty o ub oc ,
Texas. yor city of tubWocks, fexas
BEGISTERDD BY
City Treasurer, Lubbock, Texas.
The forth of Coupon shall be substantially as followst
No & ON THE 2M DAY OF $15.00
the city 'I"reaeurer of the city of Lubbock, Texas will pfy to bearer at
the First Zational Bank in St. Louis, Mo., the sum of t15000 out of and
from money belonging to SPECIAL FMING WARRANT FUND of said City; s id
sum being six months interest on c i ty of Lubbock FMING WARRANTS NO,
dated July 29th, 19199 to which this coupon is attached and
is a part thereof,
ayo r.
C11—Y Secretary,