HomeMy WebLinkAboutR-1950-2
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RESOLUTION CALLING BOND ELECTION
THE STATE OF TEXAS
COUNTY OF HARRIS
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The City Commission of the City of La Porte, Texas, met in
regular session at the City Hall within said City on the 11th day
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of May, 1950, with the following members present, to-wit:
H. J.. Pfeiffer
Mayor
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James S. Crate, Jr.
111m. P. 'Jones
Commissioner
Commissioner
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J. E. Muldoon
City Clerk
when the following business was transacted:
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The Mayor introduced a resolution which was read in full.
Commissioner Crate made a motion that the resolution be adopted
as read. The motion was seconded by Commissioner Jones and car-
ried by the fOllowing vote: AYES: Mayor Pfeiffer, Commissioners
Crate and Jones. NOES: None., The resolution thus adopted
follows:
A RESOLUTION CALLING AND PROVIDING FOR A
SPECIAL ELECTION ON THE PROPOSITIONS OF IS-
SUING PUBLIC PARKS AND PLAYGROUNDS BONDS AND
PARKS REVENUE BONDS
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BE IT RESOLVED by the City Commission of the City of La
Porte, Texas:
Section 1: That a special election shall be held in the City of
La Porte, Texas, on the 27th day of May, 1950, at which election
there shall be submitted to the duly qualified resident electors
of said City who own taxable property within said City an~ who
have duly rendered the same for taxation, for their action there-
upon, the following propositions, to-wit:
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PROPOSITION NO. ONE
SHALt THE CITY COMMISSION OF THE CITY OF LA PORTE,
TEXAS, BE AUTHORIZED TO ISSUE THE BO~IDS OF SAID CITY
IN THE AMOUNT OF FIFTY THOUSAND ($50,OOO.OO)"DOLLARS,
MA'rURING SERIALLY WITHIN THIRTY (30) YEARS FROM THEIR
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DATE OR DATES, BEARING INTEREST AT A RATE NOT TO EXCEED
FOUR (4~t) PER CENT PER ANNUM, FOR THE PURPOSE OF PUR-
CHASING, ACQUIRING AND IMPROVING LANDS TO BE USED FOR
PUBLIC PARKS AND PLAYGROUNDS FOR SAID CITY, AND TO LEVY
A TAX UPON ALL TAXABLE PROPERTY WITHIN SAID CITY TO PAY
THE INTEREST ON. SAID BONDS AS IT ACCRUES AND PROVIDE
A SINKING FUND TO RETIRE SUCH BONDS AS THEY I~TURE?
PROPOSITION NO. TWO
SHALL THE CITY COMMISSION 0:B1 THE CITY OF LA PORTE,
TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID
CITY IN Trill AMOUNT OF FIFTY THOUSAND ($50,000.00) DOL-
LARS, MATURING SERIALLY WITHIN THIRTY (30) YEARS FROM
TP;.EIR DATE OR DATES, BEARING INTEREST AT A RATE NOT TO
EXCEED FOUR (4%) PER CENT PER ANNUM, FOR THE PURPOSE OF
BUILDING MUNICIPAL P~RKS FOR SAID CITY, AND TO SECURE
THE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES,
AND THE PRINCIPAL OF SAID BONDS AS IT MATURES BY PLEDG-
ING THE NET REVENUES FROM THE OPERATION OF SAID PARKS
AND FURTHER BY MORTGAGING AND ENCUMBERING SAID PARKS
AND THE F.aANCHISE AND INCOME THEREOF AND EVERYTHING
PERTAINING THERETO ACQUIRED OR TO BE ACQUIRED, AND AS
ADDITIONAL SECURITY, TO GRANT TO THE PURCHASER UNDER
SALE O~ FORECLO$URE UNDER SUCH ENCUMBRANCE, A FRANCHISE
TO OPERATE SAID PARKS FOR A TERM OF NOT OVER T\'JENTY
(20) YEARS AFTER PURCHASE, ALL IN THE MANNER PROVIDED
BY ARTICLES 1111 TO 1118, BOTH INCLUSIVE, REVISED CIVIL
STATUTES OF TEXAS, 1925, AS Arv1ENDED; EACH BOND TO BE
CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE
THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF
ANY FUND RAISED OR TO BE RAISED BY TAXATION?
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Section 2: That the entire City shall constitute one (1) election
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precinct and said election shall be held at the City Hall within
said City and the following named persons are hereby appointed
officers to conduct said election:
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Hallie Wright
Arbela Ralston
Presiding Judge
Assistant Judge
Clerk
Lois Compton
Morelle Gaber
Clerk
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Section 3: That said election shall be held in accordance with
the Const:itution and general laws of the State of Texas as modi-
fied by !Souse Bill 357 ,,~n_flcted by the 51st Legi.slature of Texas,
Regular S,ession, and onl~ duly qualified resident electors of
said City who own taxable property within said City and who have
duly ren~ered the same for taxation shall be qualified to vote.
Section 4: That the ballots of said election shall conform to the
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requirements of House Bill 357, enacted by. the 51st Legislature
of Texas, Regular Session, so far as applicable, and, in addition
to the requirements of said House Bill 357 shall have printed
. thereon the fOllowing:
OFFICIAL BALLOT
PROPOSITION NO. ONE
FOR THE ISSUANCE OF $50,000 PUBLIC PARKS AND PLAYGROUND
BONDS
AGAINST THE ISSUANCE OF $50,000 PUBLIC PARKS AND PLAY-
GROUNDS BONDS '
PROPOSITION NO. TWO
FOR THE ISSUANCE OF $50,000 PARKS REVENUE BONDS
AGAINST THE ISSUANCE OF $50,000 PARKS REVENUE BONDS
Each voter shall mark out one of the above expressions on each
proposition, thus leaving the other as indicating his vote on
such proposition.
Section 5: That notice of said election shall be given by posting
a copy of a notice containing a substantial copy of this resolu-
tion at the citymll and one (1) other public place within said
City not less than fourteen (14) days prior to the date on which
said election 1s to be held, and by publication thereof on the
same day in each of two (2) successive weeks in a newspaper of
general circulation published within said City, the first of said
publications to be made not less than fourteen (14) days prior to
the date set for said election.
PASSED and APPROVED this 11th day of'May, 1950.
ATTEST:
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4 C1 .011 porte,
Texas
(SEAL)