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HomeMy WebLinkAbout1940-0039 - Ordinance - 02/15/1940Ordinance No. 39. P6 BE IT ORDAINED by the City Council of the City of College Station, Texas: 1. The City of College Station, Texas, hereby accepts the offer of the Oakwood Realty Company to sell its electric, water, andsewer utility systems, con- sisting of electric meters, poles, lines, and transformers; water mains, and laterals, and fire plugs; and sewer main and outfall lines and sewer dispos- al system; together with all fixtures, easements, franchises, and rights in any wise appurtaining to aforesaid properties to said city for the amount of eight thousand five hundred (83500) dollars, to be paid on an amortized• basis at the rate of sixty ($60) dollars per month, with the first such monthly payment to be made on April 1, 1940, with any unpaid balance on aforesaid total sum of eight thousand five hundred ($8500) dollars due on February 1, 1950. It is provided however that the City shall have the option to pay all or any part of the unpaid balance at any time before that date and also to increase the aforesaid regular monthly amortized payment by any amount at any time, and the further provisions that the whole unpaid balance shall be due and payable if default be made in payment of any monthly in- stallment of at least sixty ($60) dollars. 2. The mayor and the City Secretary, or his deputy, are hereby authorized and empowered to execute and deliver to the Oakwood Realty Company a promissory note for the aforesaid amount of eight thousand five hundred (8500) dollars bearing interest at the rate of 4% per annum in exchange for a good warranty deed for aforesaid properties, with a vendor's lien thereon, said lien to be released when all conditions therein set forth have been met; andalso to execute and deliver a deed of trust for afore- said properties to W. S. Barron, as trustee, for the benefit of the Oak- wood Realty Company.' Passed by the City Counci3 of the City of College Station, Texas at a regular meeting with Aldermen Jones , Lipscomb & Orr , present, and approved by Mayor J. H. Binney, on this the 15t4. day of February, 1940, A.D. APPROVED: s/ J. H. }inne:v Mayor ATTEST: s/ Sidne L. Loveless City Secretary 00094 Ordinance No. 3S. BE IT ORDAINED by the City Council of the City of College Station, Texas: 1. The City of College Station, Texas, hereby accepts the offer of the Oakwood Realty Company to sell its electric, water, and sewer utility systems, con- sisting of electric meters, poles, lines, and transformers; water mains, and laterals, and fire plugs; and sewer main and outfall lines and sewer dispos- al system; together with all fixtures, easements, franchises, and rights in any wise appurtaining to aforesaid properties to said city for the amount of eight thousand five hundred ( $8500) dollars, to be paid on an amortized basis at the rate of sixty ($60) dollars per month, with the first such monthly payment to be made on April 1, 1940, with any unpaid balance on aforesaid total sum of eight thousand five hundred 0 8500) dollars due on February 1, 1950. It is provided however that the.City shall have the option to pay all or any part of the unpaid balance at any time before that date and also' to increase the aforesaid regular monthly amortized payment by any amount at any time, and the further provisions that the whole unpaid balance shall be due and payable if default be made in payment of any monthly in- stallment of at least sixty ($60). dollars. 2. The mayor and the City Secretary, or his deputy, are hereby authorized and empowered to execute and deliver to the Oakwood Realty Company a promissory note for the aforesaid amount of eight thousand five hundred ($8500) dollars bearing interest at the rate of 4% per annum in exchange for a good warranty deed for aforesaid properties, with a vendor's lien thereon, said lien to be released when all conditions therein set forth have been met; and also to execute and deliver a deed of trust for afore -- said properties to W. S. Barron, as trustee, for the benefit of the Oak- wood Realty Company. Passed by the City Council of the City of College Station, Texas at a regular meeting with Aldermen Jones , Lipscomb & Orr present, and approved by Mayor J. H. Binney, on this the 15th day of February, 1940, A. D. ATTEST: City Secret APPROVED: