HomeMy WebLinkAbout1947-0096 - Ordinance - 01/23/1947ORDINANCE NO. 96.
AMENDING AN ORDINANCE BY 'THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS, AUTHORIZING THE ISSUANCE OF BONDS FOR THE PRINCIPAL SUM OF $85,000.00,
FOR THE PURPOSE OF CONSTRUCTING IMPROVEMENTS AND EXTENSIONS TO THE WATERWORKS
SYSTEM AND THE SANITARY SEIaER SYSTEM OF SAiID CITY, AND PROVIDING FOR THE LEVY
ASSESSMENT AND COLLECTION OF A TAX ON ALL THE TAXABLE PROPERTY WITHIN THE
LIMITS OF SAID CITY TO PAY THE INTEREST AND CREATE A SINKING FUND FOR THE
REDEMPTION THEREOF; PRESCRIBING THE FORM OF BOND; AND DECLARING AN EMERGENCY.
WHEREAS, her6tofore, to wit; on the 30th day of December, 1946, the City Council
of the City of College Station adopted an ordinance authorizing the issuance of
85,000.00 CITY OF COLLEGE STATION WATERWORKS AND SEWER BONDS, SERIES 1947, dated
January 1, 1947, Bonds Nos. 1 to 13, inclusive, bearing interest at the rate of
2% per annum, Bonds Nos. 14 to 55, inclusive, bearing interest at the rate of
2-3/4% per annum, and Bonds Nos. 56 to 85, inclusive, bearing interest at the rate
of 3% per annum, interest payable March 1, 1948 and semi-annually hereafter on
y
September 1st and March 1st in each year, and maturing on March 1st in each of the
years 1948 to 1967, inclusive; and
WHEREAS, the City Council of the City of College Station, Texas, now deems it
advisable and to the best interest of said City that said ordinance adopted on the
30th day of December, 1946, be amended;'
THEREFORE, BE IT ORDAINED BY THE CITY COUdCIL OF THE CITY OF COLLEGE STATION,
TEXAS:
1. That Section III of the ordinance adopted yb the City Council on the 30th
day of December, 1946, authorizing the issuance of $85,000 CITY OF COLLEGE STATION WATER)
WORKS AND SEfER BONDS, SERIES 1947, dated January 1, 1947, be, and the same is hereby
amended so as to read hereafter as follows:
That said bonds shall be dated January 1, 1947, and shall be dated January 1, 1947
and shall mature serially as follows:
BOND -NUMBERS
1 - 2
3-4
5 - 7 inclusive
8 - 10 �1
11-13 11
14 - 16 n
1.7 - 20 1)
21 - 24 ►1
25-28 n
29 - 32 �►
33 -36 H
3 7 - 40 t �
41-45 "
46 - 50 11
51-55 11
MATURITY DATES AMOUNTS
March 1, 1948 $ 2,000
March 1, 1949 2,000
March 1, 1950 3,000
March 1, 1951 3,000
March 1, 1952 3,000
March 1, 1953 3,000
March 1, 1954 4,000
March 1, 1955 4,000
Mareh 1, 1956 4,000
March 1, 1957 4,000
March 1, 1958 4,000
March 1, 1959 4,000
March 1, 1960 5,000
March 1, 1961 5,000
March 1, 1962 5,000
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BOND NUMBERS MATURITY DATES AMOUNTS
56 - 61 inclusive March 1, 1963 $ 6,000 `` c
62 - 67 8 March 1, 1964 6,000
68 - 73 It March 1, 1965 6,000
74 - 79 " March 1, 1966 6,000
80 - 85 " January 1, 1967 6,000
2. That Section IV of said ordinance adopted on the 30th day of December, 1946,
be, and the same is hereby amended so as to read hereafter as follows:
"IV
"That s.id bonds shall bear interest from date as follows: Bonds Numbers 1 to 13,
inclusive, at the rate of two (20) per cent per annum, Bonds, Numbers 14 to 55,
inclusive, at the rate of two and three -fourth (2-3/4%) per cent per annum, and
Bonds Numbers 56 to 85, inclusive, at the rate of three ( 3% ) per cent per annum;
interest -payable March 1, 1948 and semi-annually thereafter on September 1st and March
1st, in.each-year, except that the last interest payment date shall. be January 1, 1967."
3. That the form of bond as set out in Section VIII of said ordinance adopted
on December 30, 1946, be and the same is hereby amended so as to conform to the
provisions of this ordinance.
4. That, except for the provisios herein contained, the ordinance adopted on the
30th day of December, 1946, shall remain in full force and effect.
5. The fact that the City of College Station, Texas, is badly in need of the
improvements to its Waterworks system and Sanitary Sewer System, and said improvements
will be to the best interest and general welfare of the said City creates an emergency
and an imperative public necessity that the rule recuiring ordinances to be read
at more than one meeting of the City Council. before final passage be suspended, and
said rule is hereby suspended, and that this ordinance take effect and be in full force
and effect immediately from and after its passage at this meeting, and it is so
ordained.
PASSED AND APPROVED, this• 23rd day of January, 19
s'
ATTEST:
City Secretary.
Mayor, City of College
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