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HomeMy WebLinkAbout1944-0080 - Ordinance - 09/01/1944ORDINANCE NO. 80 AN ORDINANCE accepting the bid of Collins -Bland Construction Co. and authorizing and ordering the Mayor to execute a contract for and in behalf of the City of College Station, Texas, and authorizing the issuance of warrants in payment therefor and a revenue tax to pay the interest and discharge the interest as same accrues and declares an emergency: BE IT ORDERED by the City Council of .College Station, Texas, that; WHEREAS, heretofore, the City of College Station advertised for bids for the improvement of streets in said city and whereas the bids were opened at the time and place set out in said advertisement and said bids were tabulated and it was found that the bid of Collins -Bland Construction Company of Austin, Texas, had the lowest and best bid for said work according to the proposal, plans and specifications, therefore, be it ordered that the bid of Collins -Bland Construction Company of Austin, Texas, being the same as hereby accepted, and the Mayor, Ernest Langford is authorized and ordered to execute the con- tract for and on behalf of the City of College Station and to bind said City to said contract; that when said contract is executed by both parties hereto and the performance bond, as provided by law, is executed and delivered to said City, then said work will commence under said contract. IT FURTHER appearing that under and by virtue of said advertisement and publication thereof that City had proposed to pay for said work by warrants -in the sum of $10,000.00 and being of the denomination of $1000 each, Known as College Station Street Improvement Warrants, dated the 1st day of September, 1944 and bearing interest at the rate of three per cent, payable semi-annually and maturing $2,000.00 a year in each of the following years on September 1, 1945, 1946, 1947, 1948 and 1949, both principal and interest payable at. the First State Bank and Trust Company at Bryan, Texas, and right is reserved by the City of College Station to call in any or all of said warrants at any in- terest date and pay same, and said interest shall be evidenced by coupons upon which the facsimile signatures of the Mayor and Secre- tary of the City of College Station may be printed, said warrants shall be a direct tax obligation of the City of College Station, Texas. That said warrants shall be numbered from one to ten and shall be signed by the Mayor and City Secretary and registered by the City Treasurer. The form of said warrants shall be substantially as follows: NUMBER UNITED STATES OF AMIERICA STATE OF TEXAS COUNTY OF BRAZOS CITY OF COLLEGE STATION STREET IMPROVEMENT WARRANT NO._ DOLLARS $1,000.00 THIS IS TO CERTIFY that by virtue of Contract made and entered into by and between the CITY OF COLLEGE STATION, TEXAS, a municipal corporation, and COLLINS-BLAND CONSTRUCTION COMPANY of Austin, Texas, to furnish improvements upon certain streets in the City of College Station, Texas, after proposal and bid in the manner required by law and the ordinance of the City of College Station, Texas, that Narrants O&1.86 would be issued to pay for such work; and said Contract having been approved by the City Council: NOV'THEREFORE, in order to pay for said work as shown by said Contract and Ordinance, the City of College Station, Texas, is justly indebted and promises to pay to COLLINS-BLAND CONSTRUCTION COMPANY of Austin, Texas or bearer the some of *******************************ONE **-**-******************ONE THOUSAND & NO/100 DOLLARS* xxx*********x (01,000.00) lawful money of the United States of America, together with interest thereon from date hereof, at the rate of three percent per annum (3%), payable semi-annually on September 1st and March lst at the First State Bank and Trust Company of Bryan, Texas, upon pre- sentation and surrender of Warrant or proper coupon; and the Treasur- er of the City of College Station, Texas, is hereby authorized, ord- ered and directed to pay to the said COLLINS-BLAND CONSTRUCTION COM- PANY, or bearer, at said Bank in said City, the sum of 01,000.00 on the lst day of September, 1944, the date of maturity of this Warrant in payment of the indebtedness hereby evidenced from the Street im- provement Fund of said City, levied, assessed and created for that purpose. Right is retained by the City to pay all of the Warrants of this series on any interest date. This Warrant is one of a series of ten warrants, numbered from one to ten, inclusive in the denomination of $1,000.00 each, aggre- gating 010,000.00, issued for the purpose improving certain streets in the City of College Station, Texas, said work being done under the supervision of the City Council and paid by the delivery of the Warrants when such work is completed, the account duly audited and allowed by the City and the proper officers thereof, prior to the de- livery of said Warrants, under and by virtue of the constitutions and laws of the State of Texas and in pursuance of an Ordinance passed by the City Council. The date of this Warrant, in conformity with said Ordinance, is September 1, 1944, and it is hereby certified and recited that all acts, conditions and things required to be done precedent to and in the issuance of this Warrant, have been properly done, have happened and been performed in regular and due time, form and manner, as provided by law and that the total indebtedness of said City, including this Warrant does not exceed any constitutional, statutory or charter limitation. IN TESTIMONY WHEREOF, the City of'College Station, Texas, has caused these presents to be signed by its Mayor, countersigned by its City Secretary and registered by its City Treasurer, as of the date last above written. COUNTERSIGNED: Mayor, City of College Station, Texas Secretary, City of College Station, Texas REGISTERED, this the day of , A. D., 1944. City Treasurer, City of College Station,Texas 00187 (ON THE BACK) FOR VALUE RECEIVED, we hereby transfer and assign the within Warrant to bearer without recourse on me. WARRANT NO. COUPON THE CITY OF COLLEGE STATION, TEXAS, is justly indebted to bearer in the sum of FIFTEEN AND no/100 DOLLARS and the City Treasurer is hereby authorized, ordered and directed to pay bearer on the 1st day of A. D., 194 , at the First State Bank and Trust Company, at Bryan, Texas, out of the Street Improvement Fund, said amount being six months interest on the City of College Station, Texas, Street Improvement Fund, dated September 1, 1944, to which this coupon is attached and made a part hereof. Secretary Mayor of the City of College Station, Texas. 00188 NO. UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF BRAZOS CITY OF COLLEGE STATION STREET IMPROVEMENT FUND $1,000.00 Dated September 1, 1944 Due: OPTION ON ANY INTEREST DATE: INTEREST RATE THREE PERCENT PER ANNUM, PAYABLE SEMI-ANNUALLY; PAYABLE ON THE lst DAY OF SEPTEMBER AND TIS lst DAY OF MARCH OF EACH YEAR. BOTH PRINCIPAL AND INTEREST PAYABLE AT THE FIRST STATE BANK AND TRUST COMPANY OF BRYAN, TEXAS BE IT FURTHER ORDAINED BY THE CITY OF COLLEGE STATION, TEXAS: That a special fund be designated CITY OF COLLEGE STATION STREET IM- PROVEMIENT FUND, be and the same is hereby made, created and set aside, which shall be used to pay the interest on said warrants, and the principal thereof, at maturity, and for no other purpose. That to create said fund to pay the interest and create a sinking fund sufficient to pay the principal thereof as same comes due, there is hereby appropriated and set aside out of the tax levy made out of the general fund for the current year, amount sufficient to meet the interest and sinking fund requirement for the current year; and that there is hereby levied for the year and each succeeding year thereafter while said Warrants or any of them are outstanding, a tax of and at the rate of cents or so much thereof or such greater amount as may be necessary, on each $100.00 valuation of taxable proper- ty in the City of College Station; and said tax shall be annually assessed, collected and applied to the purposes named. The fact that the City of College Station is badly in need of said street improvement as set out in the preamble, and that there is public calamity and emergency existing on account of the condition of the streets in the City of College Station being such that they are endangering the lives and the welfare of the citizens of College Station, and the Mayor in writing having signified the emergency, this Ordinance is passed finally at the first reading and is in ef- fect from and after its passage. PASSED on the day of A. D., 1944 at a regular adjourned meeting of the City Council held in College Station, Texas, a quorum being present and all voting AYE. IViayor, City of College Station, Texas. Secretary, City of College Station, Texas. 04189 STATE OF TEXAS ) COUNTY OF BRAZOS ) CITY OF COLLEGE STATION ) do hereby certify that the foregoing Ordinance approving the contract and issuance of Warrants for the improvement of the streets of the City of College Station, Texas, was duly passed with the emergency and entered in the Minutes of the City of College Station, Texas, to all of which I certify under my hand and seal of office on the day of . Secretary, City of College Station, Texas 00190