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HomeMy WebLinkAboutO-1953-440 . " ,--...... ,.",. ...... ..---... e ._'~' .. 't.:. _: ...... .........-;>.....~ -..... . . "~, '. '" . ... . ., , .' . e ORDTIIAHCE NO. 440 AN ORDINANCE AUTHORIZING THE ISSUANCE OF $12,000.00 CITY HALLBONDS~ SERIES 1953; PRESCRIBING THE TERMS, AND CONDITIONS THEREOF; AND LEVYINq. TAXES TO ,PAY THE PRINCIPAL AND, INTEREST THEREON I THE, STATE OF TEXAS I COUNTY OF HARRIS I , - The City Commission of the City of La Porte, Texas, met in ~ ~ ..J' session at the City Hall within said City on the I ~ -- day of January, 1953, with the following members I present, to-wit: M. D. Burgin Robert A. White L. R. Rigby J. E. Muldoon Mayor Commissioner Commissioner City Clerk ~ when the following business was transacted: The Mayor introduced an ordinance which was read in full. Com- missioner f1lj~r moved that it be adopted as read. I I The motion was seconded by Commissioner jV'/, ,-.;.&. . ! I and carried by the foDowing vote: AYES: Mayor ~Urgin, COmmiSSiOnerj I White and Rigby. NOES: None. The Mayor declared that the ordinance had been finally adopted. The ordinance thus adopted follows: . N'., 1./'10 AN ORDINANCE AUTHORIZING THE ISSUANCE OF $12,000.00 CITY HALL BONDS" SERIES 1953;. PRESCRIBING. THE TERMS AND CONDITIONS THEREOF; AND LEVYING TAXES TO PAY THE PRINCIPAL .AND INTEREST TEEREON. -...... WHEREAS, at an ele~tion held in the City of La Porte, Texas, on the 9th day of December, 1952, a majority of the duly qualified resident electors who owned taxable property within said City and who had duly rendered the same for taxation voting at said election, voted in favor of the issuance of the bonds of said City in the amount of $12,000.00 for the acquisition of a 'capital project, .to- wit: constructing a city hall within said city; and i I ~_. - -.~ :- -. .--- -" .' ~ ~--- ... 'I_ ., --- . . . WHEREAS, said election was properly called and notice thereof given as required by law and the City Commission has heretofore canvassed the results thereof and determined the specific authority of the City to issue said bonds; Therefore BE IT ORDAINED by the City Commission of the City of La Porte, Texas: Section 1: That the bonds of the City of La. Porte, Texas, be issued in the prinCipal amount of $12,000, to be known and designate as "CITY OF LA PORTE CITY HALL BONDS, SERIES 1953", for the acqui- sition of a capital project, to-wit: constructing a city hall with- in said city, under and by virtue of the Constitution and laws of the State of Texas, particularly Chapters 1 and 7 of Title 22, Revised Civil Statutes of Texas, 1925, as amended, and the City Charter of said city, particularly Article VI thereof. Section 2: Said bonds shall be dated January 15, 1953, shall be numbered from 1 to 12, both inclusive, shall be in the denomination of $1,000 each, aggregating $12,000, and shall become due and pay- able on the 15th day of January in each of the years and in the respective amounts shown in the following schedule, to-wit: Bond Nos. Maturity Amount 1 January 15, 1955 $ 1,000.00 2 fI " 1956 1,000.00 , 3 " " 1957 1,000.00 , 4 - 5 " " 1958 2,000.00 . , 6 8 II II 1959 3,000.00 . , 9 - 11 " " 1960 3,000.00 . , 12 " II 1961 1,000.00 . , Section 3: Said bonds shall bear interest at the rate of 3-1/4% per annum, interest payable on January 15, 1954, and semi-annually thereafter on the 15th day of July and the 15th day of January each year unti.l-the 'principa.l is paid. Both principal and interest on said bonds shall be payable in lawful money of the United States of America at The First National Bank, L~ Porte, Texas, and interest ;. )~ / " . . --, e falling due on and prior to,maturity shall be payable only upon presentation and surrender of the interest coupons attached to said bonds as they severally become due. Section 4: That each of said bonds shall be signed by the Mayor and countersigned by the City Clerk and the corporate seal of the City shall be impressed upon each of them. The facsimile signa- tures of the Mayor and City Clerk may be li thographedl engraved or printed on the coupons attached to said bonds and shall have the same effect as if said bonds has been signed by said officers. "' - Section 5: That the form of said bonds shall be substantially as follows: I 'No. $11000.00 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF HARRIS CITY OF LA PORTE CITY HALL BOND SERIES 1953 The City of La Portel in the County of Harris, State of Texas, for value receivedl acknowledges itself indebted to and promises to '~.> pay to bearer on the 15th day of January, 19 , the sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful money of the United States of America with . interest thereon from date at the rate of 3-1/4% per annuml payable January 15, 19541 and semi-annually thereafter on July 15th and January 15th in each year until the principal sum shall be paid; both principal and interest are payable at The First National Bankl La Portel Texas, and interest falling due on or prior to maturity " is payable 'only upon presentation and surrender of the interest coupons hereto attached as they severally become due. ..,._._-....... -- .~~ .;0. '.-. '- ..."...---.... :."" '. 'I ..~--- 'e ,........ -- .........--........ . . . " This bond is one or a series or twelve (12) bonds of like date and tenor, except as to number and maturity, numbered from 1 to 12, both inclusive, in the denomination of $1,000 each, aggregating $12,000, and is issued for the acquisition of a capital project, to-wit: constructing a city hall within said city, under and in strict conformity with the Constitution and laws of the State of Texas, particularly Chapters 1 an~ 7 of Title 22, Revised Civil Statutes of Texas, 1925, as am~nded, and the City Charter or said City, particularly Article VI thereof, and pursuant to an ordinance duly passed and adopted by the C~ty Commission of the City of La Porte, Texas, which ordinance is of record in the Minutes of said City Commission. The date of this bond, in conformity with the above mentioned ,ordinance, is January 15,1953. I It is hereby certified, recited and represented that the series of bonds of which this bond is a part was authorized at an election held in the City of La Porte, Texas, on December 9, 1953, and that all acts, conditions and things necessary to be done pre- cedent to and in the issuance of these bonds, in order to make them legal, valid and binding obligations of said city, have been done, have happened and been performed in regular and due time, form and manner as required by law; that due provision has been made for levying and collecting annually by taxation an amount sufficient to pay the interest on these bonds as it falls due and to provide a sirltng fund ror the final redemption of said bonds at ma. turi ty j and that the issue of bonds of which this one is a part, together with all other indebtedness of said city, does not exceed any constitu- tional or statutory limitation. IN WITNESS' WHEREOF, the City Commission of the City of La Porte, Texas, has caused the seal of said city to be affixed hereto /" ~ 7'. .e ., - ....;-.... " .~ . ... . e and this bond to be signed by the Mayor and countersigned by the City Clerk, and the interest coupons hereto attached to be executed by the facsimile signatures of said Mayor and City Clerk, all as of January 15, 1953. ZJ:IA,L · , Mayor, City ~rte, Texas exas Section 6: The form of the coupons to be attached to said bonds shall be substantially as follows: No. $ On the 15th day of , 19 , the City of La Porte, in the County of Harris, State of Texas, promises to pay Ito bearer at The First National Bank, La Porte, Texas, the sum of I I Dollars 1($ ), in lawful money of the United States of 'AmeriCa, being the interest due that date on the City ot: La Porte City Hall Bend" Series 1953, dated January 15, 1953. Bond No. . //JAr .d~ ' Mayor, City of orte, Texas Texas Section 7: The foDowing certificate shall be printed on the back IOf each of said bonds: IOFFICE OF THE COMPTROLLER REGISTER NO. THE STATE OF TEXAS I I hereby certifY that there is on file and of record in my IOffice a certificate of the Attorney General of theState of Texas ~ ;', " !;. . ,...-.....". .. p' -......... e .'--: ---. . ~ - . .. e., to the effect that this bond has been examined by him, as required by law, and that he finds that it has been issued in conformity with the Constitution and laws of the State of Texas, and that it is a valid and binding obligation upon said City ot La Porte, Texas, and that said bond has this day been registered by me. WITNESS my hand and seal ot otfice at Austin, Texas, . Comptroller ot Public Accounts ot the State ot Texas Section 8: I While said bonds, or any part of the principal thereot lor interest thereon, remain outstanding and unpaid, there is hereby Ilevied and there shall be annually assessed and collected in due I time, form and manner and at the time other city taxes are assessed, levied and collected, in each year, a tax upon all taxable property on said City ot La Porte, Texas, sufficient to pay the current linterest thereon and to create a sinking fund to pay the principal las it matures; and a tax of -fIJ !fee- on each 1$100 valuation ot taxable property within said City is hereby levied tor the current year 1953 to pay interest on said bonds and to create a sink1ng fund tor their redemption at me. turi ty and said tax shall be assessed, collected and applied to the purpose named; and for the purpose ot providing a fund for the payment of principal and interest on said bonds as they respectively become due and payable, there is '. hereby levied for each ot the years while said bonds or any part ot the principal thereof or interest thereon remains outstanding and paid, a,continuing direct annual ad valorem tax upon all taxable roperty within said City sufficient theretor, and said taxes, when ~ollected, shall be applied to the payment ot principal and interest pn said bonds, and to no other purpose. , 1:0 "I.,' - . . --.....'. . Section 9: That the Mayor shall take and have charge of said bonds pending their investigation and approval by the Attorney General andJ when so approvedJ shall deliver them to the Comptroller of Publ~c Accounts for registration. Section 10: The sale of said bonds to E. L. BrownJ .Jr. J Bellaire J Texas, McClung & KnickerbockerJ Houston~ TexasJ and Central Invest- ment Company of Texas J San Antonio, Texas, at a price of par plus accrued interest plus a cash premium of ~ ~ ~ Dollars I ,,-.......... . subject to the unqualified approving opinion as to legality by the ttorney General of TexasJ and market attorneys selected by the urchasersJ is hereby authorized~ approvedJ ratified and confirmed. en said bonds have been approved by the Attorney General of Texas nd registered by the Comptroller o~.Public Accounts of Texas, they the purchasers upon receipt of the purchase The Mayor and City Clerk of the City of La Portel Texasl are uthorized and directed to do any and all things necessary and/or onvenient to earry out the provisions of this ordinance. PASSED and APPROVED this / L day of' January I 1953. Ma~Y~~: Texas .' --....... ,. 'I-.~ '. "ll!!!!- :~ ;..' :--- exas ;j , _I; r'~ '. /- -----.