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HomeMy WebLinkAbout12/12/1940 - Special Minutes - City Council • 6C I" NOTICE OF SPECIAL MEETING. l \� Frank G. Andersen, Mayor Ernest Langford, Alderman George B. Wilcox, Alderman S. A. Lipscomb, Alderman J. A. Orr, Alderman T. A, Munson., Alderman Lucy L. Sneed, Assistant City Secretary J. W. Barger, City Attorney TO THE MEMHERS OF THE BOARD OF ALDERMEN, THE CITY SECRETARY AND THE CITY ATTORNEY OF THE CITY OF COLLEGE STATION, TEXAS: Notice is hereby given that a meeting if the City Council of the ''ity of "ollege Station, Texas, will be held at the regular meeting place at 8:00 o'clock P.M. , Thursday, on the 12th day of December, A.D. 1940, for the purpose if adopting an ordinance authorizing the issuance of City of College Station Sewer, Light, and Water Improvements Warrants in the amount of $ 7,500.00, and to transact any and all other business which the City Council may deem necessary. Sgd. Frank G. Andersen, Mayo r CONSENT TO MEETING We, the undersigned, hereby acknowledge receipt of the fore going notice of Meeting if the City Council of the City of College Station, Texas, to be held at 8:OO:4'cleck P.M. , December 12, 194i, and hereby consent to the holding of said meeting for the purpose stated in said notice. � _.) Ernest Langford J. A. Orr T. A. Munson G. B. Wilcox S. A. Lipscomb �.�) r 00073 67 THE STATE OF TEXAS COUNTY OF BRAZOS CITY OF COLLEGE STATION 0 - 1 On this the 12- day of. December, A. D. 1940, the City • Council of the City of College Station, Texas, convened in regul- ar session in the City Office with the following members present, to-wit: Frank G. Anderson, Mayor Ernest Langford George B. Wilcox : S. A. Lipsoomb = Aldermen J. A. Orr T. A. Munson Lucy L. Sneed Ass't. City Sec'y. With the following members absent, to-wit: None, constit- uting a quorum, at which time the following amoung other busines was transacted, to-wit: The Mayor presented for the consideration of the Council an ordinance. The ordinance was read in full by the Secretary. Alderman Orr made a motion that the rule requiring ordinances to be read at more than one meeting of the Council be suspended and that'this ordinance be placed on its final reading. The motion was seconded by Alderman Langford. The motion was adopted by the' following vote: AYES: Alderman Orr, Langford, Wilcox, Munson, Lipscomb NOES: None It was moved by Alderman Wilcox and Seconded by Alderman Munson that the ordinance be passed finally, which motion was carried by the following vote: AYES: Aldermen Orr, Langford, Wilcox, Munson and Lipscomb. NOES: None • THEREUPON, the Mayor declared the ordinance finally passed. The Ordinance follows : ) 00074 p d AN ORD INANC E 1 1 AUTHORIZING THE ISSUANCE OF "CITY OF COLLEGE STATION, TEXAS, SEWER, LIGHT AND WATER IMPROVEMENT WARRANTS, SERIES 1940", AGGREGATING $ 7,500.00, BEARING INTEREST AT THE RATE OF FIVE PER CENT PER ANNUM, FOR THE PURPOSE OF PAYING THE COLLEGE HILLS ESTAT S COMPANY, A CORPORATION, FOR CERTAIN ADDITIONS, EXTENSIONS AND IM ,PROVEMENTS PURCHASED FROM THEM WITHIN THE CITY; PROVIDING FOR THD LEVYING AND COLLECTION OF TAXES ON ALL OF THE TAXABLE PROPERTY I - • SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID WARRANTS AND THD PRINCIPALS AS IT MATURES AND DECLARING AN EMERGENCY. WHEREAS, it is deemed to be. to the best interest of the ci that certain needed additions and extensions and improvements, b- ( made in sewer, light and water services, and WHEREAS, said additions, extensions and improvements have been made by purchasing certain sewer and water lines, easements . and appurtenances from the College Hills Estates Company, a Cor- poration, all of which are located within the City, and WHEREAS, the City Council finds and adjudicates; That Pursuant to the provisions of Chapter 163, Acts of the Regular Session of the Forty-Second Legislature, the City is duly author- ized to issue warrants in payment for labor, materials and sup- plies, and WHEREAS, the City does net have on hand available for the purposes, cash, to pay for said improvements, extensions and ad- ditions and said College Hills Estates Company, a Corporation, has agreed to accept warrants in payment for said additions, exten- sions, and improvements, and labor, materials and supplies expend- ed by said Company, but that said City will have the funds on ha from taxation sufficient to pay for warrants herein authorized; NOW, THEREFORE: BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEGJ STATION, TEXAS: That warrants of said City to be denominated " City of College Station Sewer, Light and Water Improvement Warrants, Series 1940" be issued in the sum of $ 7,500.00 payable to beare evidencing the indebtedness of staid City. Said Warrants shall be numbered from One (1) to Fifteen (15), inclusive, shall be ix the denomination of Five Hundred ($j 500.00) Dollars each, aggregating Seven Thousand, Five Hundre• ($ 7,500.00) Dollars. They shall be dated November 1, 1940, and shall bear interest at the rate of five per cent (5%) per-annum, payable February 1, 1941, and quarterly thereafter on the 1st da ) of May; the 1st day of. August; the 1st day of November, and the 1st day of February of each year, which interest is a part of th. contract price agreed to be paid for said labor, material and supplies. Principal and interest of said warrants shall be pay- able at the First State Bank and Trust Company, Bryan, Texas, and said warrants shall be made to mature serially as follows: 00075 f WARRANT NUMBERS MATURITY DATES AMOUNTS February 1, 1941 $ 500.03 I 2 May 1, 1941 500.00 3 August 1, 1941 500.00 4 November 1, 1941 500.00 5 February 1, 1942 500.00 6 May 1, 1942 500.00 ? August 1, 1942 500.00 ( ) g November 1, 1942 500.00 9 February 1, 1943 500.00 10 May 1, 1943 500.00 11 August 1, 1943 500.00 12 November 1, 1943 500.00 13 February 1, 1944 500.00 14 May 1, 1944 500.00 15 August 1, 1944 500.00 Said warrants shall be signed by the Mayer, countersigned by the City Secretary, end registered by the City Treasurer and the seal of the City shall be impressed upon each of them. The facsimile signature of the Mayor and City Secretary may be print- ed upon the coupons. (, ) J _ 00076 70 • The form of such warrants shall be substantially as follow. : ( ) NO. 6 500.00 UNITED STATES OF AMERICA ' STATE OF TEXAS CITY OF COLLEGE STATION, SEWER, LIGHT AND WATER IMPROVEMENT WARRANTS SERIES 1940. THE CITY OF COLLEGE STATION, TEXAS, A municipal corporati n in Brazoa County, Texas, duly incorporated under the General Laws of the State if Texas, for value received, acknowledges itself in debted to the College Hills Estates Company, or bearer, on 12 ( day of December, 1940, in the sum of FIVE HUNDRED DOLLARS in lawful money of the United States of America; with interest thereon from date hereof, at the rate of five per cent (5%) per anxum, payable February 1, 1140, and quarterly thereafter on the 1st day of May; the 1st day of August; the 1st day of November, and the 1st day of February of each year, which interest is evid- enced by coupons attached hereto, principal and interest payable at the office if the First State Bank and Trust Company, Bryan, Texas, upon presentation and surrender of w:,.rrants or proper ,) coupons, and the City Treasurer is authorized, ordered and direct- ed to pay bearer said principal sum and interest as the same mat- ures. In event the sum of money evidenced by this warrant and an- nexed 4.4841414 coupons shall not be paid at maturity, the same shall thereafter bear interest at the rate of six per cent (6%) par annum, until fully paid, and in the event of such default and it • becomes necessary for the holder hereof('or of any of the coupons attached hereto to place claim therefor in the hands of an attor- ney for collection or to institute suit thereon, then said City obligates itself to pay to holder an additional ten per cent as attorney's fees. THIS WARRANT is one of a series of Fifteen ( 15) warrants of like date and tenor except as to maturities, number One (1) to Fifteen (15) inclusive, in the denominations of 500.00 each, ag- gregating the sum of 07,500.00, issued fir the purpose of evidencing the indebtedness due by said City to the College Hills Estates Company or bearer, for certain extensions, additions, and improvements to the City Sewer, Light and Water Services for said City in accord- . ante with contracts therefor; and pursuant to an ordinance passed by the City Council of said City, which ordinance is recorded in the Minutes of said Council. The date of this warrant in conformity with the ordinance above mentioned is December 12, 1940. AND IS HEREBY CERTIFIED AND RECITED That all acts, condit- ions, and thdigs required to be done, precedent to and in the is- suance of this warrant and of this series of warrants, t ave been 000'77 properly done, have happened and been performed in regular and due time, form and manner as required by law, and that the total ix- / debtedness of said City, including this warrant and the entire �- series of which this is one, does not exceed way constitutional or statutory limitation; and that a sufficient tax to pay the principal and interest of this warrant and the entire series of which this is one has been levied for said purpose and will eon- - tinue to be annually levied, assessed and collected while Bald warrants or any of them are outstanding. IN TESTIMONY WHEREOF, the City Council of the City of College Station, has caused the seal of said City to be hereto affixed and this warrant to be signed by the Mayor, countersigned by the City Secretary, and registered by the City Treasurer, and the interest coupons hereto attached to be executed by the printed facsimile signatures of the Mayor and City Secretary as of the 12th day of December, A.D. 1940. COUNTERSIGNED: Frank G. Anderson Mayor, City of College Station, eTexas. Sidney L. Loveless City Secretary, City of 'gollege Station, Texas. REGISTERED as of the 12th day of December, A.D. 1940. Lucy L. Sneed City Treasurer, City of Co11=ge Station, Texas The form of interest coupons attached to each o.f said warrants shall be substantially as follows: No. 1 $ 500.00 On This the 1st day of February, 1941 The City Treasurer of the City of College Station, in Brazes County, Texas, will pay to bearer at the First State Bank & Trus • Co. , Bryan, Texas, the sum of SIX AND 25/100 DOaLLARS J being 3 month' s interest due that date on the "City of College Station Sewer, Light, and Water Improvement Warrants, series 1940" dated December 12, 1940. WA T NO. +�y Sidney L. o s� s ' Frank G. Anderson04.�0 d 8 City Secretary Mayor. 72, Be it further ordained by the City Council of the City of College Station that to pay the interest and to create a. sink' g fund to retire said warrants at their maturity and to provide 10 attorney' s fees in event of default, a tax at the rate of twenty five cents (r.25) on the One Hundred Dollars valuation of all to - • able property in the said City, out of the .$0.60 taxing fund of said City is hereby levied for the year 1941; that during the year 1942 and each year thereafter while any of said warrants are out- standing and unpaid and at the time other city taxes are levied in each of said years there shall be computed and ascertained what rate of tax bused upon the latest approved tax rolls of said Cit will be necessary, requisite and sufficient to fully make, raise and produce in each of said years the amount of principal necessary to be raised for that year, plus the interest maturing in said y ar upon the amount of this series of warrants outstanding and unpaid and provide for 105 attorney's fees in case of default, and for each of said years there is hereby ordered to be and there is hereby levied and ordered to be assessed and collected in due tiiiie, form and m n- ner a tax at the rate of which shall be found necessary as aforesaid, and all the proceeds of such taxes shall be placed in a separate fund for this series of warrants, known and designated as "Speer 1 Sewer, Lights arr3. Water improvements Warrant Fund, Series 1940", and the City Treasurer shall not honor any draft upon said fund or pay out of the same except in the payment of interest on said warrants or for retiring the same, or for attorney's fees as pro vided above. The Mayor and the City Secretary are hereby directed to execute said warrants, and the Treasurer is hereby directed to register them, Sadid warrants shall be held by the City Treasurer subjected to the Order of 'the City Council and shall be used to pay the indebtedness due to the College Hills Estates Company fo certain additions, extensions and improvements to the City water, light and sewer service. The fact that the City of College Station is greatly i, need of the improvements herein creates an emergency and an impe - ative necessity that the rule requieing ordinances to be passed at more than one meeting be suspended and said rule is hereby sus- \ / pended, and that this ordinance shall take effect and be in .fore frnin and after its passage, and it is so ordained. PASSED AND APPROVED, this the 12th day of December, A. . 1940. ATTEST: • 414-e-<.7 Frank CL Aid rsmMayor, City of College Static , a�'�,�� TexasSidney L. Loveless City Secretary, City of College Station, Texas. ( SEAL 0 00079 73 THE STATE Of. TEXAS COUNTY OF BRAZOS CITY OF COLLEGE STATION . I, the undersigned City Secretary of the City of Col.le,e Station, Texas, hereby certify that the foregoing is a true and correct espy of an ordinance passed by the City Council of the City of College Station, Texas, held at the City Office in said City on the 12th day of December, 1940, which ordinance is record ed in Book 1 , page 65 et seq. , of the Minutes of said City �\ Council. ^ J GIVEN UNDER MY HAND AND SEAL of said City, this the 12th day of December, A.D. 1940. (SAI.,) Sidney L. Loveless City Secretary, City of College Station, Texas i 00080