HomeMy WebLinkAboutO-1929-229.5
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-', , WARRANT ORDINANOE
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.THE STATE OF TEXAS
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. Cl)UNTY OF HARRIS.." \'., .
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O:ITt:.~~ La.PO~!f~'" ' :,r\;, , lr., ,
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On th1~',~ day of ~ . - . " 1929, the Oity Oouncil
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:o:l~ ::the, 01ty of LaPorte, Texas, was convened 1n regul~r session at the
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,..,..~.t.~,y.~a~l, in said Oity ~ith Frank W. Reynolds, Mayor, G . W. Briok,
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.. ~~;ii'd~f, Tom DeWalt, F. G. Balter and '9;- e -'JO~
'--Al,~er~~ and B. P. Sullivan,' Seoretary, present, when the following
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proceedings, among others, were had, to-wit:
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Alderman F. G. Baker offered for consideration an ordinanoe
entitled:
"AN ORDINANCE PROVIDING FOR THE ISSUANCE OF OITY
OF L DRTE FUNDING WARRANTS IN THE AMOUNT or
-. '(ptP(J ~ UATURING SERIALLY BEARING'
INTEREST T THE RATE OF SIX PER OEN+ PER ANNUM,
FOR THE PURPOSE OF FUNDING A LIKE AMOUNT or
WARRANTS~LEGALLY ISSUED BY SAID OITY FOR LAWFUL
CITY PURPOSES; PROVIDING~FbR THE LEVY OF A TAX
TO PAY THE PRINCIPAL AND INTEREST OF,SAID WARRANTS
AT MATURITY; AND DECLARING AN EMERGENOY. n
It was moved by Alderman F. G . Baker and- s.econ~ed by
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Alderman G. W. Brick that the ordinance be.read in full" whioh motion
was carried by unanimous vote, and the ordinanoe was read ~n full by
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the Oity Secretary;
It was moved by Alderman F. G. Baker and seconded by Alderman
G. 'W. Brick that the ordinanoe pass its first reading, which motion
was carried by the 'following vote:
C',
AYES: Aldermen G. W..Briok, Fred Ruff,
.Bakl3r and 'rJr.Q; tro/11~ " · ," ·
BOS: None.
It was moved by Alderman F. G~ Baker and seconded by
Tom DeWalt, F. G.
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,AldElrman G. W. Briok that the rule r~quiring ordinances to be p~.,sed
at 1ihree separate meetings of the 0 i ty Oounoil be suspended, and
',: that: the ordinance pass its second and final reading, whioh motiOD
~. was !'tu'ried by ths following vote:
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Baker and
AYES: Alderman G. W. Brick,
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I~OS. None.
Fred Ruff, Tom DeWalt, F. G.
.
The ordinance was read a second time, and it was moved by
,Alderman F. G. Ba.ker and seconded by Alderman G. W. Brick that it
pass its second' reading, which motion was carried by the following
vote:
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B,aker and
AYES: Aldermen G. W. Brick,
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NOS: None
Fred Ruff
,
Tom DeWalt, F. G.
.
The ordinance was read a third time, and it was moved by
Alderman F. G. Baker and seconded by Alderman G. W. Brick that it
pass its third and final readings, which motion was. carried by the
fc,llowing vote:
AYES: Aldermen G." W. Brick, Fred Ruff, Tom DeWalt, F. G.
Baker and . . [p C 1Y?t.1r~~ 1>(_ .
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NOS: None.
Thereupon the Mayor declared the ordinance
The ordinance follows:
"AN ORDINANCE PROVIDING FOR THE ISSUAI'lCE OF CITY
OF LaPORTE FUNDING WARRANTS IN THE AMOUNT OF
$.l:.J~ f)p~ ~ . MATURING SERIALLY, BEARING
INTEREST AT THE RATE OF SIX PER CENT PER ANNUM,
FOR TH~ PURPOSE OF FUNDING A LIKE AMOUNT OF
WARRANTS LEGALLY ISSUED BY SAID CITY FOR LAWFUL
CITY PURPOSES: PROVIDING FOR THE LEVY OF A TAX
TO:~PAY THE PRINCIPAL AND INTEREST OF SAID WARRANTS
AT MATURITY; AND DEOLARING AN EMERGENOY."
WHEREAS, there are certain unpaid Warrants which are legal
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finally pass~d'; >::r.
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obligations of the Oity of,LaPorte, and said Oity is without money
wlth which to pa.y same, and this Oity Oouncil having had under
cc'nsideration the advisability and necessity of postponing the
time of payment thereof, in consideration of the payment of interest
thereon, and issuing in l'leu thereof" interest-bearing time-payment
Warrants, and it appearing to the Oi ty Council tha.t it is advisable
and necessa.ry to issue Funding Warrants for the,purpose of funding
saId outstanding and unpaid Warrants, which are as follows:
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$4,~62'.2~:::.~treet I"mprovement warrants.. Seri e.s' of 1927,. dated October
10, 1927..' ,'bearing, interest at .the rate of 6~ per annum.
$~.OOO.OO FUndin~ Warrants'.. dated JUly 2:5" 1926.. and bearing inter.est
at the rate. of 6%, per' annum.
$.50J.00 ,Fl~e Ehgine~Warrant. dated May 18.1925. and bearingfn~rest
~t the' rate of" 6~ per. annum.
SCr:Lp Warrants described as follows:
No:. Date
702~~ 3/27/28
700~' 2/28/28
SUn.,
7 20~~
720e:
72151
7220!
7233'
72'5S'
7261
7274:
SUn-..
7166 3/3/28
7191 10/23/28
6793' 6/'Z1/2'1
6922 3/15/28
719& 10/23/28
7192' 1.ot23/28,
7272' l/2,8/a9
72~7 1/29/29
7276 1/29/29
7132: 811-4/29
'1152" 8122/29
721.& 11/15/28
'l072: 5"/14/28
7088 6/11/28
7049 4/2'4/28
7106: 7/10/2:8
1131 8/l/28
7150 9/1/28
7083' 6/1/28
7067 5/14/28
7116 '1/25/28
7161 8/9/28
7077 5/21/28
7.052~ 4/24/28
727S: 1/29/28
7a78 2'/1/28
'1279 2/1/28
7280 2/1/28
7281. 2"/1/28
7282 2/1/28
7Ba3', 211/28
7284. 2/8/28
7285, . 211.4/28
7285 2/1.{/2S
7287 .2'/11/28
7288 2/1I/28
7289 2'/11/28
7290 a-/lI/a8
7291, 2/1l/28"
'1.292: lllt/ll/28
7293' 2'/l1/2s
7294 ;e/lI/28
7295, :at1I/28
7295" :~/ll/a'8
7297 :a/11la.8
7298 :VJ; 1/a 8
To whom tssued
PUrpose
Is.. T.. Seaman
Miss StabI.,er
F-. Reynolds:
Making Tax Report
Lots' Water Dept.
Mayors Salary
,.. Ruf'r Alderman S8.lal7
Be.. . r. HOwald ~1 dEnralk Labor
LaPorte- Lbr. Co. Lumber
Fre'di Norns' tabor & Ma:.terial on stree:t.s
LaP"orta Lbr-. C'o. Lumber'
- Ilr H~..It, Hardware. 8c Pipe
sp.pt1mp &..:~g_Co. Repair.s.parts:-pump
w.. Kena.:gan. Labor '
F'". B8ke~ Telephone.
r::. Williams' Labor-dltche:s
Houston land T'.e.-o. Shell '
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~.SU1l1.van .,:. ..
J".. r... DUnham
S.. A.. Howell
II.. ~ Santa. Rose'
'l'~ R. BOyle
E".. BUrri s
It Ih'
a.. COUn'ts:
Young Pig. C.o.'
Cedan rron. 8'. Co:.
Church, M. So.
C. Slusher."
w. ~.. Arthur'
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a-. r.. N"eal
G.. C'ounts.
0'. SWitzer:
g. BUrris:
'lel. Co.
e,.. rsenoce
C'-edim Iron.
E~ HUff
K. P'fe:fitr."er
LaPorte Rd"..
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Y.It..Boyls'
E.C:.Sulll van
C'. N"orrls.
Geo. Beck
S. A... Howell
r. :ijeynolds,
F'. B'aker
G.. W~ Brt ok
r~ Dorgen
c:i:eaning strea't 8c lla.ter-ia.J,
rnsurance. Fire, Dept.
Plmnd Jla,ster
Cutting, weed-s
Printing
Attorney salary
It III-
Ifarahall ~'
Printing ..
M.eters
Shell
Pipe 8c Hdw.
Shell.,
It
Saiary JUdge
* liar shall
.!,t Librarian
~ Attorney
Phone'
Salary. i!1rec Chie:t'
Int. on Meter ale.
Salry. AlJd.erman
Stree:t't IJ. ghts'. Globes
Pipe, etc..
Mdse. Vir e St81..
Pipe,. etc.
Ptg.
Salary 01 erk
Shell
C:ement Work
Pound Master Salar,y
Ilayor, Salary
Al.dermem III
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Amount
$15Q.00 ,/
,500.00 ' ,
24.00
125.00 '
1500.00
1500.00 ...
1591.12 .
125.00 "
1495'.00 .,'
125.00 '
276.50 .
10.00 -
64.16 .
39.10 ...
52'.80 ~
83'.70 I
62'.20 ~"
21.00 '
8.00' ,
2.35 v
7.50 r
244.97 "
2,118.66 ...'
,(61...97 " ...
125.00 0/
125.00 '
78.00 v-
12:6.00 .'
50.00 v
25.00 11',
,
5.00 ~
28.50 "
550.00 .;
479.38 ..'
346,4'01:'11'.
83.60 v"
111.62 ...
12.00
5.00
2'.00
25.00
2,.25
10.00
22;.00~ "
a.oo
9.00
12.67
9.2'6
17.72
111.00
10.00
843".75- ",.
98'.40
125,'.00 ,,'
3.00
2.00
2.00
2.00
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To whom issued,
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7.299 2/IV28 r. D:eWalt.
7300 21IV2.8 r.. Ruf'f'
7,301 2/11/28 cr-. Williams'
7:302 1/19/28 1st lfatl. Bank
1:003 1/11/28 H. Busch
7:504:. 1/2.5/28 C.. N"orri s-
7:505 1/25/28 R. R. Burri s
7:5.06 1/25/28' F". R.. Boyle
7:50'l 1/28/28 H.. Neal.
7:508 1/28/28 0:. IScensee
7:509 1/2,8/28 G. C,ount s
7alO 1/28/28 L. Burris:
7~511. 1/28/28 Gri bb1eStamp 0'0.
7~512 1/28/28' cr. Everett.
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PUrpose
Alderman. Salary
II! II'
C[elUl Ditch..
Diterest
Tires. &: Ga.S
Shell.
Ab.d'1~
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Sal ery. Judge
.. Chl,e.:r
~ MarshaJ.l
~ Attorney
Stencils
Janitor
AMount.
2.00
2.00
4.50
120.30
63.45
259.87'
192'.55 ~'
2.00
12.00
10.00
&.00
25.00
6.00
3.00
a&d2x
112.882.86
8'.662.22
$21,545.08
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AND WHEREAS, it will be neoessary to i8sue Warrants against
',~he Oity in payment of olaims inourred for lawful city purposes,
und no funds are available at this time to pay suoh warrants, nor
1;0 pay the warrants outstanding already and hereinbefore llsted,
AND WHEREAS, J. R. Phillips Investment Oompany has agreed
1iO purohase end take up from the holders thereof, all Warrants
1.egally lssued and hereinbefore 11sted, and all Warrants to be
I,egally issued for purposes hereinbefore stated to the amount of
.:25,000:-00 (Which amount inoludes said Warrants now outstanding and
those hereafter to be lss.ed); and has further agreed to aocept in
lieu thereof and in full satisfaotion of said,Warrants so purchased
or to be purchased by them ..OITY or LaPORTE Jtm~ING WARRANTS',
bearing interest at the rate of six per oent per annum;
'l'BEREFOREf BE IT ORDAIDD BY 'I'm: OITY OOUNOIL or THE OITY
Oir LaPORTE, 'l'EXAS:
'!'hat the Warrants herein lis,ted, aggregating the sum of
';31, S4S~08 be and the same are hereby in all thlngs adjudicated and
ht,ld and declared to be valid, subsisting, binding and unsatisfied
ol)ligatlons against the Oity of LaPorte, and the aots of the Oity
oj~ficer8 in incurring said indebtedness and in the issuanoe of sald
Wl~rants are hereby in all things ratified and confirmed~
That additional claims to the extent of '3j'454r~9a duly
allproved for or on account of indebtedness inourred for lawful oi ty
p~~oses, 8hall be evidenoed by the issuanoe of oity warrants against
s8.1d ci t1 ~
That Warrants of sa1d 01 ty be oalled I:OITY OF LaPORTE
r~NDINO WARRAB'1'S~1 be lssued under and by vlrtue of the Oobstltut10n
and laws of the State of Texas, inoluding Artiole a27, Revised 01vll
Statutes of 1925; for the purpose of fund1ng the Warrants hereln
11sted, upon canoellation and surrender of said Warrants and for the
further purpose of fundlng Warrants of this oity issued for lawful
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l....../) city purposes, all of which Warrants ,are to be cancelled and sur-
rendered and the Funding Warr~ts,hereby authorized issued to the
holders in lieu thereof.
Said Funding Warrant s shall be numbered. fr~m 1 to .. ~ J -.
inclusive, shall be of the denomination of tl,OOO.OO each, aggre-
gating the sum of t1:J:' t1~() ~- - ': ".
'They shall be dated Karch 10,-1929, and shall become due'
and payable serially in their numerical order as follows:
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Said Funding Warrants shall bear interest from date until
pa.1d at the rate of six per oent per annum, interest payable March
10, 1930, and semi-annually thereafter on September 10th and March
10th of each year, which interest shall be evidenced by coupons
attached to eaoh of said Warrants.
The principal and interest of said Warrants shall be payable
upon presentation and surrender of Warrants or proper coupons at the
Hanover National Bank of New York, N. Y.
Said Warrants shall be signed by the Mayor, countersigned
b:y the Oi ty Seoretary, and registered by the Oi ty Treasurer, and
t:!l.e seal of the Oi ty shall be impressed upon ea.oh of them. The fac-
s:Lmile signature of the Mayor and Oi ty Seoretary may be lithographed
o:~ printed upon the interest coupons.
The form of Warrants shall be substantially as followsl
Ne). 1
$1,000.00
UNITED STATES OF AMERIOA
STATE OF, TEXAS
OITY OF LaPORTE
CITY OF LaPORTE FUNDING WARRANT.
THE CITY OF LaPORTE, in the County of Harris, State of
Texas, for a valuable consideration is justly indebted and hereby
,promis,es to pay to bearer on the 10th day of Ms,rch, 19_, at the
Hanover National Bank, of New York, N. Y., the sum of
ONE THOUSAND DOLLARS
,
in l.awful money of the United States of America, with interest
thereon from date hereof at the rate of 6% per annum, interest pay-
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/~ble ~arch 10th, 1930, and semi-annually thereafter on September 10th
and Maroh 10th of eaoh year, which interest is evidenoed by coupons
at"tached to this Warrant j prinoipa,l and interest shall be payable
UplJn presentation a,nd surrender of Warrant or proper coupon at the
above named Bank. In event the sum of money evidenced by this
Wa:rrant and annexed coupons shall not be pa.id at maturity, the Bame
shiul thereafter bear interest at the rate of 6% per annum until
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fully paid; and in the event of default and it becomes necessary for
the holder hereof or of any coupons attached hereto, to place SB,me
in the hands of an attorney for collection or to institute suit
thereon, the Oity of LaPorte hereby obligates itself to pay to the
holder an additional ten per cent as Attorneyls fees.
THIS WARRANT is one of a series of A;t7;-t. 4;-: i' '. l/.~:-
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WarI'ants, numbered from 1 to .h\ ~ inclusive,
of $l,OOO~OO each, aggregating $~~ D,ro,~~
Warrants are issued for the purpose of funding
in the denomination
, all of which
an equal amount of
Warrants of the Oity of Laporte duly and legally issued for lawful
city purposes, the claims for which were duly audited and allowed
b}l the 0 ity Oouncil of said Oity prior to their issuance, a.nd for
which said Oity received full value and consideration, and hereby
acknowledges receipt of same; and which Warrants were authori~ed
by orders and ordinances duly and legally passed prior to their
issuance,made and entered upon the Munites of the Oity 0 ouncil of
LaP orte, Texas, and the holder hereof shall and will be subrogated
to all the rights and privileges aga~nst said 0 ity had and possessed
by the holders of said original Warrants, in accordance with the
Oonstitution and laws of the state of Texa,s, and in pursua.nce of an
'~rdinance passed by the Oity Oouncil of LaPorte, Tex~s, which
,ordinance is recorded in the Minutes of said Oouncil'~
AND IT IS FURTHER OERTIFIED AND REOITED that all acts,
I~onditions and things required to be done precedent to and in the
:Lssuance of this Warrant, have been properly done, have happened
and been performed, in regular and due time, form and manner, as
:t'equlred by law, and that the total indebtedness of sa.id Oi ty, in-
(~luding this Warrant, a.nd the entire series of which this is one,
does not exceed any constitutional or statutory limitation; and that
provision has been made for the levyinB of taxes annually for the
payment of principal and interest of this Warrant, and all other
Vlarfants of this series, as they respectively mature.
THE DATE of this Warrant, in conformity with the ordinance
E~ove mentioned, is March 10, 1929.
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IN TESTIMONY WHEREOF, the City of LaPorte has caused the
Elea1 of said City to be hereto a.ffixed and this Warrant to be
e:igned by the City Treasurer as of March 10, 1929.
Mayor,' City of LaPorte, Texa.s.
Countersigned:
..
City Secretary, City of LaPorte, Texas.
Registered this the
day of
, 1929.
Oity Treasurer,City of LaPorte,Texa.s.
The form of interest coupon shall be substantially as
fc.110ws:
Net. 1
ON THE 10th day of
$30.00
, 19___. the City
Treasurer of the City of LaPorte, in the Oounty ~f Harris, Texas,
will pay to the bearer, at the Hanover Nationa~ Bank, of New York,
N. Y., the sum of
THIRTY .DOLLARS
being six months interest due that day on City of LaPorte Funding
Wa:rrant dated March 10, 1929, to which this coupon is attached and
is a part thereof, No.
l4a.yor
City Secretary.
BE IT FURTHli:R ORDAIl~ED that $. ?l.009.OO
of the
Warrants herein authorized, be executed and delivered to said
J. R. Phillips Investment Oompany, the owner and holder of the original
Warrants herein listed, aggregating #21,000.00
render and cancellation of said original Warrants.
IT IS FURTHER ORDAINED that the remainder of said Funding
upon sur-
War:rants shall be issued in installments, evidencing an equal amount
of lVarrants issued for lawful city purposes, which have been or shall
havt~ been issued in payment of claims duly audited and alloV1ed by the
Cit3r Oouncil, as herein provid.ed; it being understood that said Funding
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Warrants shall be issued only in lieu of said valid claim, upon sur-
reI~er and cancellation of the Warrants issued to evidence such claims.
IT IS FURTHER ORDAINED that in the event it shall not be
necessary to issue the full amount of original Warrants herein con-
te~~lated, then, in such event, such amount of City of Lap orte
Funding Warrants as shall not be supported and based upon claims duly
approved by the City Council shall be cancelled and destroyed, the
nurabers and amount of such Warrants so cancelled and destroyed to be
made a matter of record upon the Minutes of the City Oouncil.
IT IS FURTHER ORDAINgn by the City Council of the City of
LaP'Jrte, Texas, that to pay the interest on said Warrants and create
a s:lnking fund with which to pay the principal as it matures, a ta.x
B.t a. ra,te sufficient for said purpose on each $lOO~OO valuation of
all taxable property in said City, is hereby levied and shall be
ann\lally levied on said property and annually assessed and collected
unttl said Wa.rrants and interest thereon are paid; and said tax of
~~. cents on eaoh #lOO~OO valuation of all taxable property
'in s.aid City is here now levied for the year 1929 and for each
succeeding year while said Warrants or any of them are outstanding;
and the same shall be assessed and collected for the current year a,nd
annually thereafter, or so much thereof as may be necessary for sa.id
purpose, and applied to the purpose named.
BE IT FURTHER ORDAINED that the Mayor of the Oity of Laporte
be and he is hereby authorized and directed to take and have charge
of Si3.id Funding Warrants and he shall have a.uthori ty to deliver
Nos. 1 to 2'1.inc. of said Warrants aggregating ..' 21.000.00 to
J. R,. Phillips Investment Oompany, when the original \Varrants herein
listE3d shall have been surrendered to him and canoitlled; and shall de-
liveJ~ the remainder of said Funding Vlarrants in installments, under
further orders of this COuDcil.
The fact that the funding of the herein above described
inde'tltedness will put the City of LaPorte on a cash basis, con-
sti t'l,;ltes an emergency and an imperative public necessity that the
rule requiring ordinanoes be read at more than one meeting be sus-
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pendedp and said rule .is hereby suspended, and that this ordinance
take effect and be in force from and after its passage, and it is
so ordained.
PASSED, this the J..~)..... ""- day of
APPROVED, this the 1-,r-- T day of
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, 193;l
. 1929.
~M\4\..~. ~..
Mayor, Oity 0 L 0 te, Texas.
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ATT~~
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~ ty Secretary.
T.BE STATE OF TEXAS :
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O\)UNTY OF HARRIS :
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CITY OF LaPORTE I /J
I, df.~ ~'LfdJJ~
, Oity Secretary of
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the Oity of Laporte, Texas, hereby certify that the foregoing is a
, tfue and correct copy of an ordinance passed by the 0 ity Oouncil
of the Oity of Laporte, Texas~ at a meeting of said Oouncil held on
the ~ O';~ day of /f;, MMJA-I r . . . : . 1929. as the ss.me appears of
rel;:ord in Book . "j . : at page 3 iP~~ et seq., of the Minutes'
of said Oouncil.
WITNESS my hand and the seal of said Oity this the ~
day' of '22t Iv.. d . 1929.
r:&/~~~
Oity Secretary, Oity 0 LaPorte,
Texas.
( SEJ~L)
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IN:/fERE,BT.'J;'. 'rliE' JiAT;&;'OF SIX ~lj;R' QEN'l' PER ANlQ'UliC~
FOR THE PURPOSE OF FUNDING A LIIQ:.:AKOUNT OF'
"A(':;.l~,~' J!!~~GAl:Il,:t'lS:SUEDBtSAID . OtTY' FOR LAWFTJt
C'ITY~:'. .~.O:~E~~;PROVIl?~~G":FVR!.';J;'HE: ~Evr OF A '.t.{iX.' ..' .
TO'PA: PIE~;JPRINC::J:P4~'AN~ ,.Ilf'1'EUJ3.T 'pF .,SAI~., WAJUiANT$ .
" . . . . AT:. ~ ~tmI'~'"~:;" AND ':. PEOLARING A~ EMERGENCY. II . . .,' .
..' ,llt~ail~r',~; by Ajlde~ F; G. B4ker and- $,$dOn~~dbY
.Al~,~f;Jitan ::~.;~l~i__~:rtjq:k,'~~a1i th~ 'o~d1,nance be. read infUll,~hieh motion
'was :qarr1ed by un~1mo~~ivo~e, and the ordinance was read' '~n full by
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.. It:-w;as .ove.~~ 'by',41de.tmanr. G. Baker and seoon.ded ~y' Alderman
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, TO:'PAY.f5E:paINCIPALAND :INTEREBT OF' SAID' WARRANTS,
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. ~.. ~:.~~.:;' 1~'Wl1~ b'e .neo~.~ary' to 188ueWarriJ41ts against
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~lbe Q1tl11:L: pa~n~::.of..O~~. 'lno~:l'ed' fo~ ;lawful clty :p11rpQses,
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. aid l\l9'.fUcts: .~e a~~11.~bi,.e at .this t1. to pay such war~ants, .Dor
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to pay the :.*~fmt~::OU~.8t.~~ngiJJ;rea.dY e:q4herelnbefore 1.1sted,
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1:e:sa11ylss11e~ . ~lller..1n~efore l1s.ted,:~d: all Warra.nt~ to. be
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: '1;:e:g&117' :";.s1Ae,l.: ~or: :'plurPos~~s herel~1,)ef.ore' stated ,to the amount of
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. '2s:;eaoteo (~1'_ ~~t ~aOludes 8al~ 'at::r8D~S now outstanding and
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'1;h~se, here,af:~ez :!!~,,' ~~1:'8~~4l; qd ~&e: flirthel' agreed to accept 1n
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. o~ to b~ Pu:rbhad~d' b~ them': ~otTYOr L.8PoRTE ~iIfG 'WARRAN'1'S'~',
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: . 'be~lDg :l~te,~e~1;;i:a1;: ~)1e:l'~te 'of 8ix pel',.oe:Q1;'p.e~ annWlj
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." '.. : '. '1'~Ff~:'~.', !Tt,ORDA~n:D. BY. ~D ;O~TYOOUNOIL OF. 'I'D OITY.
C)F,. "L'aPORTE, TEW'.: '" ~~ : . ~ ,.,: . '., """
... ... ~'t'1lfj~r4Jl~~h.re1Jl :J.i8~ecli~ awegaUrlg .thll_!lf
',.;l",i "a~'J645:~'08 b~l a.ni tl1.8.::' s~::::a1'e herebYl~:: ~1 ,things a4jud:loated and
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i. ., ;.:tilte14 and declp." : to;"be. Y&1,1d,. Bub81stlna,' 'l;)1J1cllng and unsatlsfled
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, 'obl~gat.l0a8' 81&1.1; ~~e "~l~f of -LaPo~teJ Q4tbe aots oitha Oity
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~ Warrants ~e '~e~,y ~:n ,~1, ::thlDg8 l'a~,ltl,~d: and oonfirmed'.'
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o d. '. '::-1~i'~!;~[:~;~~~f~~ . ~ .~!lbtedUali . iilClurred. for. laWN !lit)'
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, Saf:a '~d1p.s.W~r~~t~".'shall,' be' numbered from lto '~J-
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'l'he:y ~,~li,i.bedat'~'d ~;rch ,"0, 11929, and shall become due,
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paid at 'the rat:e{~t, :~1_x pe;~ cen~ per ~p.'WU,interest payable Karch
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..... :', 10, 1930,. a.nCl.se~i-annua.ll1. thereaf~'er: on, September 10th and Ka.:rch
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10th' of each,,:yea:,:,' w~lCh i~terest, shall be eVid,e'nced by coupons
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attached .to ~'aGhl o'f ea1d W~r'ran~s. . , '
" The:pr~np~Pf 'an~ interest of said Warrants Shall bS payabls
: upon presenta1;'10~: and:" Burre'nde1: 'of Warr'ant-s or propeJ.'., coupons at the .
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sai~ W~*ran~s 'ShCl:l.~ b~ signed, by the Kayor, countersigned
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'.by the Oity Secretary;: and j:'eg~~tered by'the :Oity Treasurer, arid.
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's,1m11e slgnat#re pf th,e iay~r and' 'CJi'ty ~'eoret,uy may be lithographed
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'or printed uPQn:~~e 1n~.eres~ cou~ons~
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:The 'for, of ;:warrants . shall'. be:sub'stantially as fOllOws:
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:', :;' 'JdI'ty,::,oi" L~OR~E FUNDING WARRANT'. '
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THE' I~IT~. OF:' ~aPOR~E~' in, t,he, Oountyof Harris" State of
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trexas, fpr a V:~1t1a;.~le':c.'~ilS;1d~rat1~n 1~ .justly iIidebtedandhe:r:eby
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.1)7om1'S.es to paY; to, :bearer ~n: the J;Othdayof Karcpj 19_,' at, the
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!Ianover Nation~ Bank, ;~fN~", York,' l'ii~ y."the sum of .'
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- : O~:.: THOUSAND DOLLARS '
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..:1'n ~a~\l~ Jn~~~:y:;.qr~,~.~'-~:\i'Ilf,~re~:;Sll~at~s of Amer1oa, . wi.th interest
'ther~OD fr~~. 'da;t'e hereof at the' rate of ,6~:' per' annum" intex.e.st pay-
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,a:nd Ka.rch 10th:'0f':'~o:h<yea;t:J ':~h1-eh' 1nt.erest1s' :e!1d~noed'by cg~pC:)ns
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llold:eran add:i t1.Iial' :ten'per cent as Attorneyts fees. . '. '_~ I
THf.1l1'l~~1s~neOf ~Seriesof ../urudt~
lrarI'ants~ number~d tr~m ,1 ~o u:... in:~~us1ve; in the denomination
,Qf: .1,oo6~oo ~;~E+~ij~ a;ggre'g~t;~ng:".JJ~ ptJ() ~. . .' all of which
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Wai-rants' are <~s~n4edfor 'the' p~pose :of funding ail eq~ wi10unt of
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. Warrants, of ~.b,e': qi ty' :'()f La.P.ort~ '.duly e.n~' i~gai.li issued for' lawful
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. . . city purpos~sj thi~ ,c;:l~im~ for which "ere : duly audited and. allowed
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i.b, the .O;t'y '~O~11',:Pf s;a~~ Oity 'prior .t,o their issUance, and for
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. ' which sat.dai:~y :r~ceiv:.eo.' fU;11 value and' co?si'derati.on, and her.eby
~okn6W~:~dges' ~~C"l>t ':::~fsSm;.j and" ~h~Ch: Watra~t.s were author1~ed
by orders and 'ordlnano'esd~y and legaJ.1Y pas~ed. prior to. .their
'.. ;~ss'f'C~'~1~~~~~~fs4 u~on ':ti>e~1tes,~fthe 01 ty 0 ounc11 of
;-L:a.P:o.~te:,Te.xSJsj'-.-:'$.nd~t:be ;holde#' h,preQf' ,..shall a.p.d will be subrogated
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'tC); al,.l t,h~' ..r1gpts~~a.I),d.. pr1v1:Leges ',.aga~nst said' 0 ity had and possessed
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::';'.,.!", "~y ~lae' holders of : said, orig~naJ. Warrants" in aocordance with .the
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1:.;1" L :OoE.:stitution ailq:'iaws.9f,th$, State C?f Texas" and in pursuance, of an
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'~J:'din~oe ,pass'ed,t ~~e atty.: .ao~cil of' L~orte, Teus, whic;tl.
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.. ,.,:.~rciiiiance. is l!:T.e.?~ed::~:rl. th~; Ki_n~te~ . of said 'Oouncil'~
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AND ::X'T .I!SFURTHER ;O!;RTIFIED AND. REOITED that all act~,
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fully p~1d; .~d' :In.t'~e . event ()f' ,default and' it becomes necessary for
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'the holder h~reot Or:'~;Of:.any' coupons, attaohe~ hereto, to plage same
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in, the hands "of., ..-.n ,at:torney. for. collectlonorto 'institute suit
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.oondltions 'an~,t thi~gs :~equi1j~d~o be' done 'pre~edEmt to and in the
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. '., l:~S1i~O"e:of tlii'sH.,r:rarit ~ : h~ve been properly .dQne, ha\re ~appened
ia.ncibeen perfo'fme:d;' i~ ,regul.ar and dl1;e t~lI:le,,; fo~m and manner, as
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:eeq~1red 'by l,aw;' ..$d t~:P,it the total i~debtedness of said Oity, In-
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. c,~udlng .this W~:r:t~~:)' afd, tp~ e~t;~e. ~er~e.s:..of which this .1s one,
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,cLoes'note~pee~'~';~$,p[i,:;9()~~:t:i1ill#~ti,al', or 'statut.ory 11m1 ta.:tion; ~d that
above. mentloneqt 'i:i~!. MarQh lO.i 1929~"
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IN:TEs.~Tt~on, wHEREoF,'. the city of' LRPorte . has
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seaJ.. of' salc1 ~Oi~.t~ :;b~: h'~.~eto. .8.ffixed"tu1dth1s Warrant
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signed by t~e O:tltyT;easurer as' of ;id:arch ,iO~ 1929.
cau's~d the
to be
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'Ka~or ,,"01'ty : of' :LaPorte, Texae.
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Counters1gned, :
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;~.fti secret~r; .~1t~"~f: L~orte,,' '';l'e~as~
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Reg1st~:rec;i.:th1s.- :the " ". ': day of
" 1929.
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. " '. f, 01ty,Treas~er,01:tyof :LaPorte',-Texae.
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Th~~ fot,'m at,: 1nte;rest.. Ooupon sh:all be substant1ally B.$
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follows:
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, ' ,OB:r~ ~J.OW d~Y ~_f, " 1-9-.' thE! 01 ty
~~reasurer of?he ;1:01 tt:' of .L~orte.', . 1n t'~e O'OUIlty. o'f Harr1s ,Texas,
,,111 pay to the qeare~,. :a,.t ::the:' Hanover Wati9nal Bank, of New York,
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l\r. . Y., the silin of: :", . 'I,:' , '
, ',' , . '::[ ;::;' THIRTY DOLLARS.
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being s1~ mo~,t~,s 'i1nt~'~es:t ,due that day on 01ty of LaPo'rte Funding
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''''a.rt-ant dat~d;:J4~~h: i~J 19~9" ~o, wh1ch',thl'e coupon 1$ attached and
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. . 01 tY'Sec:r:et'~y. :' i.
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of the
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of ~~e original
'of Warrants 1s$Ue~ f(),r:"lawfu:l q~~, lp~poses, wJ:i1c~ ha.ve ,been, or shall
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have been 18SU~d ,~n,.parment;:of 01~1m~, dp,lr. aud1 ted' .and allowe(i. by the
.01 ty. oounOI1,; :t~"t~~t ~otd1;,:.1i r~ ;e:~~stoOd. that:;{;. Fund1ng'
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'W'arrants shal,l b~ ,lss~ed: only ,in lieu of .EJ:a~~ va.lid c.la1m, ~pon sur-
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retLd,er',and ca.ic;e$.at,~q~ Qf ';:the, WarrE3.Xlt,s, ~ssu~d to ev~de'nce suoh clalms.
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IT ::~S:~iURT~ROR~AINED, tliat In.: t'he. <3vent 1 t shall not be
. necessary to :is:t.t~~ . ~J11~ ~6J1ilt'Of origil)ai warrants. herein con';
t eDlpl at ed, th:en'" ~lnE\~ch ,e:Vr~nt, such amount .of Oi 1;y of LaP orte
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, approved by .t'he: Oi1ty', :OounC1i, s~all' be canc,elled and, destroyed, the
; numb:ers '~d a~O~~::~f'.~suOh'~arrants:so c'anoel~ed and dest.royed, to be
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, made' a. ,m~tte:r;'of~ec():~:d Upo1;1 the. :Minutes of the Oity Oouneil'~
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IT~S:~:!tJRT,HE.;R, ORO,~INED by :the Oity Oounoil of the, Oi ty 'of.
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: LaP~rteJ 'Texaij.,.tpat, t;o pay:the interest :onsald Warrants ,and create
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, ',a. s1nkin@; fun4.with, wh.ioh .to p'ay the ,pr1nc1pa~ .as '.it matur~~, a tax
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"at'a ra.te suff.Ud~,nt;f'01' s~~dpurpoBe on e,a.oh,'.lOO:~OO valuation of
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,&;11 taxa~le P,topef:ty, ~n sai:~ 01 ty, 1s here~y' 1~:y1ed and shall be
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, a:rmu~ly :leV1~:di~o~"'~,~~d :.,pro~~r~y:,' ~4';aJ;lnu~ilY:"'as~essed,, an~';'oollected
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,~t,i,l "s:a1~ W~ranf:~f~:'~!i; ~nt~rest , there.on~ar~ 'pa,~d;; and~s,a.~d~,t'ax of '
,;...'~ -t'\, ,~, ~ent~:, on:~~aQh .~lOq'~OO 'V.~1ua.~:19ri of all taxable property
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,,' i31 ,$a:ld ,C::a;ty, ~I~' h.:re "~Ow :ley1edfor' t.he year 1929 and f:or eaoh
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'. '",:s1JJO~eed1ngye~r .w,~l~,: :~ald' !arrants.or'~Y,'9f them ar~ Qutstll-Ildingj
"a;l1d the same $haii be :assessed 'and ooil~oted' for'the ourrent ,year and
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, .. ::a.nnually there,aft,r, ,o:~' so . muoh thereof: ~ . may be necessary for said
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'purpose, and $.pp].~ed ,t9 the ::,putpQs.e. named. ::
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BE I~ Fi.mTHE~ ORDAINED that' the Kayor of the Oity Of.LaPorte
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be and he' is:hel'e~y'~uthor1zed and. dlreote~to take and have oharge
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of S~id ~ilr,~'t~~S ;a.n! he, s~l hs.v~:aU~bO~itY tOdeHve_r.
:ffe,s.. 1- to2'l..ino'. ff 'sE;Lid, :Wal"rantsaggregatlng" 2l.G)()O.ee.;. to
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J.:'~:.,Phll-1;LPQ:j' 'lll~~eB'tment':,O~tt1pa;ny:~' 'wh:en :tbe~Hotig1na.1 Warrants, herein
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'lj~sted shall ~~ve :1;been:'~ s~r~~'~de;.re9 t'O'~~,~i>~~' C;g~lied;. and shall d~...
11\1er the rema~nd~rof;is~ld::FUIja.~ng,;Warrant~, 1:nins,t,allments, under
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, :turther order$: ot 'ilthll'$;; C:olU1q:iU.~i" , '. :., . ",'
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. : Th.e ,fac~;.t~~l.:iflibe',~,fun~1:ng:o~'the hereln abov:e de'scribed
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:1ndebtedne,ss V;111,jPut' the: 0 ~ity of 'LaPorte on ac~sb.-:,~a~isj' con-.
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stitutes ~ emerg~;noY':::~~:"an:'1mp~'rat~ve 'pu'b,l~o ~eoess1ty that, the
t1;Ll~- reqU~;lnt:;ordf1ri~~es: b~' reiad' .at ;mor~' t,ban onemeetlngbe sus-
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~!' ' . OC)t1Nr,ry OF HARR,I eI :,,:, ,,' ,
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OITY OF LaPQRT.~ '. ; t~L;: . ,~ '. , ".
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,tIle 01 ty ofLa.Por~~, 'Texa.s, ;'hereby certify "th~t.
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pended., and
take effect
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~~1d~~rUl~:~s hereby susperide~, ~d that th1s ordi~ance
and,'liPe . ~,n; force: from and at.tat.: 1 ts passage, a.nd 1 t 1s
EIO' Ordained. ': ,,' ' , :. Ii
, .' PASSEDJ' thi~ ':the :',J..,J.... , day ,df :' ~~u.~
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~P~V~D, ~~1S, 't~e :1rt:-~~{d~y:'ot..~.~ti1
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, 19i5
, 1929.
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, Oi ty Secr,etary of
the foregoing is a
ti~ue and correc't,qlOPY, :of. :an"ordlnance'pas~ed.by the 0 1ty OO'Unc11
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of the01ty ofL~6~te~TeiasJ at a'meeting of said Oouncl1 held on
. 1;hefiO.t.{ day' of ~~kr" :;..i929; uthe same apl'ears of
record 1n Book ~ : 'I "./ ~t ,page '3 iP ~\ et, seq. J of the1l1n-qtes
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'of said Ooun011.. J ., '. :
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.WlT~~fJS ,~y' hkd, ail.* "the:' seal. of 'S~1d 01 ty th1~' the ~
;ia;y'Of ?Jr4hT~ <;t.. '.:1929~'
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