HomeMy WebLinkAboutR-1964-29
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RESOLUTION NO: ~1-61
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STATE OF TEXAS
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COUNTY OF HARRIS
RESOLUTION AUTHORIZING THE CITY OF IA PORTE TO BORROW THE SUM OF SEVENTEEN
THOUSAND, EIGHT HUNDRED FORTY-THREE AND 08/100 DOLIARS ($17,843.08), TO BE
EVIDENCED BY TAX ANTICIPATION NOTE, PAYABLE OUT OF CURRENT TAXES COLLECTED
DURING THE FISCAL YEAR BEGINNING JULY 1, 1964 AND ENDING JUNE 30, 1965, AND
FURTHER SECURED BY A CHATTEL MORTGAGE OF EVEN DATE HEREWITH ON THOSE CERTAIN
CARS, TRUCKS AND EQUIPMENT, AS DESCRIBED THEREIN.
WHEREAS, it has been determined by the City Commission of the
City of La Porte, that a necessity exists to borrow the sum of SEVENTEEN
THOUSAND, EIGHT HUNDRED FORTY-THREE AND 08/100 DO LIARS ($17,843.08), and
that the anticipated current revenue from ad valorem taxes will amount to
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approximately THREE""HUNDREDJ:TWEN'J:Y3:FlVEj-lTHOgS~D, :.:SIX HUNDRED THIRTY~THREE AND
NO/IOO DOLIARS ($325,666.00); and
WHEREAS, the La Porte State Bank at La Porte, Texas, has agreed
to make the City a loan in said sum, to be paid with three per cent (3%)
per annum interest thereon, on or before the 30th day of June, 1965; and
WHEREAS, the City will have current revenues from the collection
of said taxes available and sufficient to pay said obligation at maturity;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF IA PORTE, TEXAS, that the Mayor and the City Clerk (Director of
Finance) be authorized to issue a promissory note of the City of La Porte,
to be designated "Tax Anticipation Note for the Fiscal Year beginning
_ July 1, 1964 and ending June 30, 1965", such note to be in the principal sum of
SEVENTEEN THOUSAND, EIGHT HUNDRED FORTY-THREE AND 08/100 DOLIARS ($17,843.08),
to bear interest at the rate of three per cent (3%) per annum until maturity,
with the usual provision for interestat the rate of six percent (6%) per
annum on past due principal and interes~ and ten per 'cent (10%) attorney's
fees, such note to be sold by the City of La Porte to the La Porte State Bank
at La Porte, Texas, at not less than par value. When such note has been duly
executed by the Mayor and City Clerk and delivered to said Bank, with a copy
of this resolution, such indebtedness thereby evidenced shall be fully binding
upon the City; and
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BE IT FURTHER RESOLVED THAT the City further secure the payment of
said note by a Chattel Mortgage on those certain mucks, cars and equipment,
as follows:
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Resolution No.
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One (1) - Used Demonstrator Huber-Warco Model 10-D Motor
. Grader with GMC 4-71 diesel engine, including 11-tooth
"V-Type" Scarifier, Machine Serial No. 10DG-119364,
Eng. No. 4A-85451, plus other standard equipment;
One (1) - International Fire Truck, 1960 Model,
Motor No. VCO-196-FA-66095F, 5 Tons
One (1) - B225 International Diesel Tractor, with Peco
60L Cutter and Anderson 6' Hydraulic side mount mowers
and other standard equipment attached;
One-(l) - 1963 Ford Pickup, 1/2 Ton 6 Cy1., Mo. No. F10JR 362880;
One (1) - 1963 Ford Pickup 1/2 Ton 6-Cy1., Mo. No. F10JR 362881;
One (1) - 1963 Ford 4-Door V-8, Mo. No. 3J54P 13114;
One (1) - 1963 Chevrolet Truck 6-Cy1. Tilt Cab & Chassis,
Model T 6803-H, Mo. No. H3T683 P10G280 equipped with 2 -
Cubic Yard PAK-MOR GARAGE Collection Body, Model AF 20; and
that the Mayor and City Clerk be and they are hereby authorized and directed
to execute on behalf of the City of La Porte, a Chattel Mortgage of even
date herewith, on those certain cars, trucks and equipment, on the form
and containing the provisions, agreements, conditions and convenances
required by said Bank.
BE IT FURTHER RESOLVED THAT the City of La Porte Hereby appro-
priates and set aside the sum of SEVENTEEN THOUSAND, EIGHT HUNDRED FORTY-
THREE AND 08/100 DOLLARS ($17,843.08) out of the current revenues from
the collection of ad valorem taxes for the payment of such indebtedness.
AND IT IS SO ORDERED.
APPROVED and passed this the
6th
day of July, 1964,
by the City Commission.
ATTEST:
. ~~ 1f9h~
City Clerk of the City of La Porte, Texas
~~ ~?fyt:z;.,;~. J'~6'/
The Stl;lte of
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} KNOW ALL MEN &HESE PRESENTS:
That UC.._..B......!.......rf.Uf.%.....lfQ'-'tJ:...of...Cbl.
Clty of ,la 'orto aDd ~lovi8 D. *Iln, ~1t}' 01el'k. of City of La Iol'te, actl.. for City of :::":~~
of............n~.I...............County............~,I.........................., hereinafter called the mortgagor, in consideration of the sum of
one dollar to me in hand paid by............~...~~.~.__~~.~~..~.~..................._.................................................................~ a corporation
hereinafter called bank, and for other valuable considerations, receipt of which is hereby acknowledged, have bargained, sold
and conveyed, and by these presents bargain, sell and convey unto said bank, its successors and assigns, the following described
personal property, now located and situated in the County of.............B4t.I'.I.lI................, State of.......'I'~...I....._.............., to-wit:
(ll moi'tJrase covers lP'Owlns croPs. state the kind and the approximate number of acrt'll. of each. Fully describe all live.tock, sive number, kind, ase and brand)
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Form 0-2
4-17-47
COUNTY OF
Hal'd.s
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ODe (1) - Uea4 a..metl'atol' U"'-1"4a1'C0 Hodel 10->> Motor Gradel', With CHi: 4..71 Die.el
eDll_,' iDCluclS.oa 11.tooth t'V_IJpeh SUl"iftel', Hiachlae Serial Mo. lODG-119364,
IGaioa 110. 4A-8S4Jl. plu~ other 8tandard equtp.lltl,
OM (1) .. locenatloaa'l 'i1'8 'leuck, 1960 Hodel, lID. No. 'VCO-196-'A-660'5,. 5 'Ion.
OM (1) .. 1..275 Int_national Di...l 'Iractol', wlth "0 60L Cutter _IUS ADder,oll 'II
B)rdnultc .1." lbin& MoWt;.' aad o~her .~dari 84td.p_Dt accac'-d;
Oaa (1) - 1963 '01'4 Pickup, :1/2 Ton, 6 C,l. ~ Ho. H~. F10Ja 362880;
ODe (1) .. lt63 'ord 4-Door v-a, Mo. Ho. JJ54, 13114&
ODe (1) · 1963 rON Pf.ckup' 1/2 TOD, 6- Cyl., Mo. No. rl0Ja36U81
0Qa (1) · 1963 CIl.-n-olllt 1lI'Uck 6<,1..' 'tilt Cab 6 C...l., Model or 6803;"S. )fo, Ro.Il3'r683
. P 103280, e(ulpp*! with 2 .. Cubic Yard PM-MOa .'PGR Collectionlocl,.Hodel A'I 20a aDd
aatlclp.~d curreat ...waue 11'01I ad .alodia tuee ia aft aWI'OJdmate aaioUllt of $32.5.633.00
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together with aU of the Ineiease of, from and to, the above described proPl!1't7, prior to the full payment of thl!' Indebtedness hereinafter referred to. Also an
other cattle, sheep, hop, borses and other IIve.tock situated In .aid County afore.ald now owned, or that may be hereafter acquired, by said mortsasor,
until this mortsase Is relE'lllled hi full, .ave and except 8uch liveatock .. may be herein especially reserved.
TO HAVE AND TO HOLD all and aingular the above described property unto said bank, Its .uccessors and ...Ips forever. And I do heJ'l!'by bind
myself, my heirs, executor. and administrators to warrant and forever defend the title to .ald property,' and 'every part thereof, unto said bank, Its
.uccessors and a..leDs, asalnst every peraon whomsoever. lawfully claimlns or to claim the same, or any part thereof.
This conveyance, howevl.'l', ill intended as a mortltqe to .ecure .ald bank, Its successors, and asaleD., In the payment of certain Indebtedness due
and owlns by me evidenced by oM certain promissory note_, as follows:
One note datl'd July 6, 1964 due June 3D, 1965 ~or . 17,843.08
D"'~ plu. dal't. (3) ater ce..t--'At aaGUIIl inter..t thet'eOG .f~
and as well to secure the payment of all otber IndebtedneBS now owlns .aid bank, and any and all Indebtednes. hereafter to become owing .ald bank, Its
.UCCEll.ors, asaip. or lesal representative, whether evidenced by note. overdraft. or otherwl.e, whlcb said Indebtedne.. now or hereafter owlns It ill asrced
shall be payable to the order of said bank at its ottlce In____ La 'orte, 'r'-' ,
and bear interest at the ratl!' of ten per cent per annum from date of accrual until paid, and the .allie .ball .tand secured by and payable under this
mortsase with the other indebtedness herein mentioned,
provided, however, that It Is hereli,. expressly stlpnlated, and provided that ~ first and prior lien Is hereby expressly fixed on the property above described to
.ecare the note, or notes, above .peciflcally named, and the payment of all oth er iildebtedne88 by the maker hereof sub.equently accruins, or not definitely
and partieularly named herein, shall be postponed and snbordlnated to the pay ment of the note, or notes, above named, and a first and superior lien i. hereby
declared and fixed on the above de.crlbed property to secare the note, or notes. above named and described; and provided further that the payment of any
other Indebtedness of the maker hereof, not definitely and particularly named herein, out of the proceeds of the property above described, shall be made In
the order in which said Indebtedness may have been contracted.. . , .'
This mortsase I. sfven and recl!'ived for and upon the representations, B1rreements. stlpalatlons and conditions, made for the purpose of Inducins
said bank to part with certain moneys herein mentioned .and accept the security herl'in slven It, a. follow., to.wit: (1) That mortli'all"Or i. the full owner
of said property and has perfect right to give this fir.t mortsali'e upon the .ame, nnles. a qualified owner.hip is herein expre..ly named; (2) Tbat so long
a. the pOS.esslon of .aid propeorty Is pennitted to remain with mortgagor the .ame .hall not be sold, mortgaged or removed from the place above named
without the written con.ent of the bank and that mortgagor will u.e the utmo.t dlllgencl!' and care to preserve said property from wa.te or de.truction,
and have the .sme forth comins for delivery to the bank, or purcha.er In as sood condition.. the same now i., unavoidable loss alone excepted: (3) Such
of the property herein conveyed as i. livestock, the mortsall"Or bind. himself, at hi. own expen.e, to provide with food, pa.turase and attention, and to
sive the same all the attention which the mo.t prudent person would give hi. own propeorty In makins the .ame .uitable for market nnder the most
favorable circumstances; (4) That said property Is of the rl.'B.onable assresate cash value of . at the execution and delivery hereof.
It I. understood that the mortsase lien hereby created .hall extend to any renewal of the Indebtednes. hereby .ecured and this lien shall continue and
be In force until all the indebtEdness above referred to and each and every ex tension ,and renewal thereof .hall have been fully paid.
It Is further acreed between the partlEll that if ':t any time the .ald mortsall"Or .shonld move or attempt to move all or any part of the above
described property outside of the County where thl!' .ame is .ituated as above .tated, or If at any time in the judlrlllent of .aid bank thl!' .ald property
ahould be neslected, injured or abandonro or otherwise mistreated or handled so a. to Impair the said bank'. security or render the bank In.ecare, or
If the mortsall"Or witbout the con.ent of the bank .hould .urrender po.sEll.ion of any of said. property or sell any part thereof, or if the mortsagor
should violate any of the other conditions of this mor(gage, then, and in any .uch case, the said bank, at Its option, may declarl!' all of the indebted.
ness above referred to immediately due and payable and proceed at once to enforce collection thereof In tbe .ame manner a. If the full timl!' for the
maturity of the same had lapsed. In the event that more thsn one note i. .ecured by thl. mortgase, and default I. made In the paym....t of the fir.t
when due, then the remalnins Indebtedness may be declared Immediately due at the option of .ald bank.
It Is expre.sly agreed and .tipulated between the parti.... that In ca.e default be made by .ald mortgasor In the payment of tbe indebtedness above
described when the .ame becomes due or i. declared due and payable aceording to the terms hereof, then the said bank .hall have the rigbt throush Its
agents to take immediate pOB8eB.ion of all of .aid property and to either .ell thl!' BBme at private sale without notice to .ald mortgagor, or .ell the same
at public sale In the manner prescribed by law: or the .ald bank may, it It elects, enforce its lien by suit in the Court of proper jurisdiction. The .aid
mortgasor hereby specially waives all right of apprai.em....t, An attorney'. fel!' of ten per cent. of the amount of the principal and interest of the indebt-
edness remainins nnpaid ahall be taxed and made a part of the co.ts of foreclo.ure.
It I. also qreed that all expen.e In connection with the .ecurins, takins and carins for any property above described or the satherins and marketins
of any crop. shall be borne by .aid mortgagor and .ecured by this mortgage.
Upon payment In full of. tbe indebtedness .ecured by thl. instrumen t the same shall be cancelled and relea.ed at the exp....se of the mortgall"Or.
The takins of this mortsase shall not waive or impair any other .ecurlty said bank may have or hereafter acquire for the payment of the above indebted.
nes. nor .hall the takins of any .uch additional .ecurlty waive or impair this mortsase, but said bank may re.ort to any security It may have in the
order It may see proper.
A bill of sale her....nder from the .aid bank or any of its asents, officer., attorney., or as.isns, a. such, conveylns the said property or any part
thereof, ahall be full and conclu.ive evidence and proof that all of the tenns, eonditlons and prerequisite. required herein have been fully complied wi"':
and said mortsall"Or hereby ratifies and confirms any and all acts of the said bank, Its officers, asents. attorney. and a.sllrl\., done under and by virtue
be~f. '
It Is fnrther acreed and stipulated between the 'parties hereto that In the event the bank should exercise Its option to declare all of the Indebtedness
abovp referred to, immediately due and payable and proceed at once to enforce collection thereof, in the same manner.. it the full time for the maturity
of the .ame had elapsed, by rea.on of any of the foreli'olng action. on thl!' part of the mortsasor, that then, and In that event, by the term ..Indebtedne....
is meant the full amount of the principal and Intl.'rest due by the mortsasor at the time tbat the bank exercl.es .uch option. In no event .hall the
bank collect or attempt to collect any unearned intere.t on said indPbtedne.s at the time that the bank .0 exerci.es .uch option to declare .aid indebtedness
due, but all intere.t included In the face amount of the note applicable to a period after the accelerated maturity .hall con.titute a credit again.t tbe face
amount of the notl!', and all Interest paid In advance and applicable to a period after the accelerated maturity sball constitute a credit on the amount of
Indebtednes., as above defined, then lawfully owing on .uch note.
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Erasures and interllneatlons made and approved before sl8lllng,
Witness OIIr han~thls th..
~~"~7ff)..th.a_' ~
?" .. )7'18,,,,
CltT Cler:t. Ci~of La I'orte. 'fa..
day of
July
cm or LA l'ORTI. '11MB
an/ <6/!(f ff/A,)
65
A. D. 19_
Ma,OI.'
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No...
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Chattel Mortgage
FROM .
{1f:j. "(J.f LA 4r/C/
-..... ........ ................................................... ............,
----...----.--.................................................................................
TO
-.............................................................................................,
--..........................................................................................................
FILED FOR REGISTRATION
This the.....mmm..day of..............................A, D. 19........
e.m.mm..mO'CloCk............:M" and duly registered in
the register of Chattel Mortgage~ of the County of
.........-............. ......................................................-
Volume Page.......... ..........................
......... ...................., County' Clerk
......... ,County, State of................
By Deputy
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TAX ANtICIPATION NOm
roa 'tBB !BAll 1964 · 1965
FISCAL YBAk BEGINNING
JULY 1.1964. BNDING JUNB 30. 1965
~17.843.08
DATE:
July 6, 1964
The CSit)' of La Porte, Texas aCUq by and through its dul)'
-
authorized officers, for value received, promises to pa)' to the order of
the La Porte State Bank at La Porte; Texas, the sum of SBVBNTBBN THOUSAND,
lIGHT BUNDlED PORTY-THUS AND 08/100 DOLLARS ($17,843.08). with interest
at the rate of three per cent (31) pel' annum, on or before the 30th day of
June, 1965.
All past due pd.ncipal and interest shall bear interest at the
rate of sia per cent (6') per annum.
It is hereby specially agreed that if this note is placed in the
bands of an attorney for collection, or if collected by suit or throuah the
Probate or laakruptc, Court, we agree to pay ten per cent (101) additional
on the prinCipal ea,d interest then due hereon, 8S attorne,'s fees.
In addition to the appropriation from current tax revenues, this
note is further secured by a Chattel Mortgage of even date herewith on those
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certain cars, truck and equipme'llt, as described therein.
A copy of the Rilsolution authorizing the borrowing of the sum of
SBVDTBBN THOUSAND, BIGHT BUNDRBJ) FOllty.TRBBB AND 08/100 DOLJAaS ($17.843.08)
and the issuaace of this note is hereto attached.
CITY OF LA PORTE, 'liDS
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AT'lIST i .
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City Clerk of the City of IA Porte. Texas