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Home My WebLink About1947-0098 - Ordinance - 01/23/1947ORDINANCE NO. 98 WARRANT ORDINANCE AUTHORIZING THE ISSUANCE OF WARRANTS FOR THE PRINCIPAL SUM OF $10,000.00 FOR THE PURPOSE OF PURCHASING LLND AND CONSTRUCTING IMPROVEY NTS THEREON FOR USE AS A CITY CEMETERY, -AND PROVIDING FOR THE LEVY, ASSESSMENT AND COLLECTION OF A TAX ON ALL TAXABLE PROPERTY WITHIN THE CITY LILITS 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, the'City Council of the City of College Station has determined the necessity of a City Cemetery and has obligated the City to purchase a tract of land to be used as a City Cemetery, and WHEREAS, the City Council deems it advisable to construct improvements on the tract of land to make it suitable for use as a City Cemetery; and, WHE1EAS, on the 12th day of December 1946, the City Council adopted a reso- lution approving the issuance of warrants of the City of College Station, Texas, in the sum of ten thousand (410,000.00) dollars for the purpose of purchasing the land and constructing improvements thereon; and. WHEREAS, the City Council now deems it advisable and tothe best interest or, said City to issue said warrants as one issue of Cemetery warrants; therefore, be it ordained by the City Council of the City of College Station, Texas: I That the warrants of said City, to be called "City of College Station Cemetery Warrants, Series 1947", be issued under and by virtue of the constitution and laws of the State of Texas, for the purpose of purchasing land and constructing imporvements thereon for a City Cemetery. II That said warrants shall be numbered consecutively from 1 to 100, inclusive; shall be of the denomination of one hundred (4100.00) dollars each, aggregating ten thousand 010,000.00) dollars. III That the said bonds shall bedatedMarch 1, 1947 and shall mature serially as follows: Bond Numbers Maturity Dates Amounts 1 -- 20 Inclusive March 1, 1948 $2,000.00 21 -- 40 Inclusive Maroh 1, 1949 2,000.00 41 -- 60 Inolusive March. 1, 1950 2,000.00 61 -- 80 Inclusive March 1, 1951 2,000.00 81 -- 100 Inclusive March 1, 1952 2,000.00 00234 Page 2, Ordinance No. 98 X30 IV That said bonds shall bear interest from date at the rate of four (4%) percent per annum, interest payable March 1, 1948 and semi-annually thereafter on September 1st and Ivlarch 1st of each year. V Principal and interest on.said warrants shall be payable upon presentation of bond or proper coupon at the College Station State Bank, College Station, Texas. VI That each of said warrants shall be signed by the Mayor, countersigned by the City Seoretary, and the corporate seal of the City of College Station, Texas, shall be impressed upon each of them. VII That the coupons attached to said warrants may be executed by the facsimile signatures of the Mayor and City Secretary, and shall have the same effect as if they had been signed by said officers. VIII That the form of the warrants shall be substantially as follows: United States of. America State of Texas County •of Brazos City of College Station Cemetory tarrant Series 1947 Know all men by these presents: That the City of College Station, in the County of Brazos, State of Texas, a municipal corporation duly incorporated under the laws of the State of Texas, for value received, hereby promises to pay to the bearer hereof on the 1st day of the sum of One hundred Dollars ($100.00), in lawful money of the United States of America, with interest thereon from date hereof at the rate of four (4%) percent per annum, interest payable March 1, 1948 and semiannually thereafter on September 1st and March 1st in each year, principal and interest payable upon presentation and surrender of bond or proper coupon at the College Station State Bank, College Station, Texas, and the City of College Station is hereby held and firmly bound, and its faith and credits, and all real and personal property in said city, are hereby pledged for the prompt payment of the principal of this warrant and the interest thereon at maturity. This warrant is one of a series of 100 warrants, numbered from 1 to 100, inclu- sive, of the denomination of one hundred ($100.00) dollars each, aggregating 00235 Page 3, Ordinance No. 98 ten thousand (10,000.00) dollars, issued for the purpose of purchasing a tract of land and constructing improvements thereon for use as a City Cemetery, under and by virtue of the constitution and laws of the State of Texas, and in pursuance of an ordinance passed by the City Council of the City of College Station, Texas, which ordinance is of record in the minutes of the said City Council. It is hereby certified and recited that the issuance of this bond, and the series of which it is a part, is duly authorized by law and that all acts, conditions and things required to be done precedent to and in the issuance of this series of warrants, and of this warrant, have been properly done and preformed and have happened in regular and due time, form and manner as required by law; that sufficient and proper provision for the levy and collection of taxes has been made which when collected shall be appropriated exclusively to the payment of the interest coupons hereto annexed as the same shall become due; and that the total indebtedness of said City of College Station, including the entire series of warrants of which this is one, does not exceed any con- stitutional or statutory limitation. In witness whereof, the City of College Station, by its City .Council, has caused its corporate seal to be affixed hereto, and this bond to be signed by its Mayor, countersigned by its City Secretary, and the interest coupons hereto attached to be executed by the facsimile signatures of the Mayor and City Secretary; the date of this warrant, in conformity with the ordinance above referred to, being the 1st day of March, 1947. Countersigned: Mayor, City of College Station, Texas City Secretary, City of College Station, Texas The form of the coupon shall be substantially as follows: No. on the 1st day of 19 The City of College Station, Texas, promises to pay to bearer at the College Station State Bank, College Station, Texas, the sum of ($ ) dollars, in lawful money of the United States of America, being month's interest on the City of College Station Cemtery Warrant, Series 1947, dated 19 , No. . Mayor, City of College Station, Texas City Secretary, City of ollege Station, Texas 00236 Page 4, Ordinance No. 98 IX It is further ordained by the City Council of the City of College Station, that while said warrants, or any of them, are outstanding and unpaid, there shall be annually levied, assessed and collected, in due time, form and manner, a tax upon all the taxable property in said City of College Station, sufficient to pay the interest thereon and create a sinking fund sufficient to pay each installment of the principal as the same becomes due. X It is further ordained that all ordinances and parts of ordinances in conflict herewith are hereby expressly repealed. XI The fact that the City of College Station, Texas, is badly in need of the improvements herein contemplated, and said improvements will be to the best interest and general welfare of the said City creates an emergency and an imperative public neoessity that the rule requiring 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 1947 Attest City Secretary .4 4 i 4 App .red: ,, V Mayor, City of College Statip'T414 00237