HomeMy WebLinkAbout455 Ordj..90
Dr. J,L.Guest, ~!5,00; Roy G. Wood ~umera! I-io.me, $5,005 P!ainview
~an_tarium, $180.72; Bo~an' s Nurse~, ~20,~5, P!ainview Pl~bing
C~,, ~8.40; Cave~ Stere ~,lS; C~rters. ~3.~0; Camp's Bharmacy,
view S nd & G~avel Co., .~165.70; Olowe & Cow~, (~121.83; ~ag-
nolia Petrole~: Go., e58,13, Pa~dle Reffining 0o.,
Hi~inboth~n-Bartlet~ Lbr. Co., ~I00.45; Lo~bel! :Lbr. ~o,
Dslb~ ~otor Frezght ~es, ~lo.l&, css~ P~rol!, ~o50,?~, ~$
a~,~ ha. ~ ~_ ~e~v S~T.50' H.D.Ri~ler, $¢55,20; C~zy t~at i ~ank,
~985.00: Hamiltons; Black~.~th 8no~, ~i6,J5; 0.B,Jaokson,
Cash Payroll, $232.65; C~ Pa~moll, ~305.o0, J.Z,Galla~¢ay, Czty
coz.,
0RDtN.~{CE AU%%ORIZING I~U~NG~ O~~ ~UNDiNG BOI,~DS
THE STATE OF TEJ~AS, O
CITY OF Pz~_NVIE~, 0
COUNTY OF HAL', $
ON THIS the 19 day of Juz~e, 1940, the City Co'ua~cil
o~ the City of Pl~inview, Texss, convened in session,
st the regular meeting place thez~o£ in the Oity, Hall. the fol-
lowi~g ~ember~ being present and in ~ttendauce, to-wit:
JOHN ~.~. DUBOSE
C o H. H~¢J00CE,
TO~ ROBERTS,
E. ~'¢;. OSBORNE.
FLOYD POER,
L. W. KI~R,
AI~ERlCL&i'~,
ALDE~,t~i ~,
The [ayor placed before the O. ity ~omncil the fol-
lowing o=dinance:
"AN ORDINANCE by the City Council of the City of
P!ain%~ew, Texas, authorizing the issuance
of bo~dS for the .i~rincipal sum of ,~0,000.00,
bearing interest at the rate of o~/~ per aunum,
for the purpose of re£m~ding, cancelling a~d
in lieu o£ a like principal amount o~ bonded
indebtedness outst~diz4~ against said Oity;
prescribing the for~_ of bond and interest cou-
pon; p~roviding for-the levy, o, ssessment ¢~nd
collection of a tax on the one hundred dollars'
!91
valuation of all taxable property Within the
limits of said City $~ffic:Lent to pay the
interest on said bonds and create ~ sinking
fund for the rede~otion of s~ch bonds at matur-
ity; repealing all ordin.s~nces in conflict here-
with; and declariz~ au emergency.-~
~tderman Eike~ moved, that the ordinance be placed
on it~ first re.ding, seconded by Alder~.~an Roberts, and carried
by the following vote:
AYES: Aldermen Hancock, Roberts, Osborne, Poet e~d !fiker,
~-~0 ,~2: None.
¢~.RZED: Placed on first re&di~,
Alde~an Poor moved that the ordin~oe pass ffirst
readiz:~', second~m by Alder=~ Kike. r., and carrie6 by ~e follow-
i~ vote:
~.~,~.. Aldermen H~coek, Roberts, Osborne,
Poor a~ Kiker.
I~OE,~. None,
CARRIe: Ordinance pass ffirst readiz~.
Aldern:an Osborne moved that the rule be suspended ~d
that the ordin~oe be placed on second readiz~; seconded by Alder-
man ~'oer , and c~ried by the following vote:
Aldermen Hancock, Roberts, Osborne,
Poor smd Eiker.
OARR~D: Ordinance placed on second reading.
Alde~.~nan t~ike_r moved that the ordinance pass second
reading; seconded by Alderman Ha~oock , ~d carried by the follow-
vote-
Aldernaen Hartco ok, iQoberts, Osborne,
Poor and Eiker.
NOE~: None.
C J~Ri~ i ED: 0rd in~ o e ~ ~.'"
io~s~e~ on- secon~ reading~
~lde~nan Poe_ r~ moved that the rule-be suspended and that
-the ordinauce be; placed on its~h_rd~ and final reading by caption,
seconded by Alder~an __Ro~berts, smd carried by the following vote:
~YYES: _~ldermen Hancock. Roberts, Osborne,
Po er ~u'ld ~fiker.
....................... ~... NOES: Non e ·
-~'~{IED: Ordinance passed o.u third reading.
~der'm~ H~co6k moved' that the ordin~ee pass third
~d fin~ re,ding; seconded by ~lde~ ~d c~rriea
by the following vote:
.&lde~2~en Hancock, Roberts, Osborne,
Poet and Ifiker.
~yor DuBose then,declared the ordinate finally
The ordinance follows:
ORDIN~CE by the Oity Council of the Gity of
P!ainview. Texas, authorizing the issuance
of bonds for the princioal sums of ~0,000.00,
bearing interest at the rate of oa?b per
for the purpose of ref~mdiz~, cancelling and
in lieu of a like principal amount o£ bonded
indebtedne ss outst~uding 8~gainst said City;
prescribing the form of bo~d and in~erest
coupon; providing for the levy, assessment
a~d collection of a tax on the one hundred
dollars' valuation of all taxable property
within the limits of said ~ity sufficient to
pay the interes~ on said bonds and create
sinking f~nd for the redemption of s~ch
at maturity; repealing all ordinances in con-
flier herewith; s~_d declaring an emergency."
%~EEAS. by an ordinance adopted on the i'~t day of
September, 19~6, the saia City of Plainview legally issued its
bonds, ~nov~n as ~'CiTY OF PL~.II~.rIE~ RP~U~,~DING BONlk%, ~F~RIE~ 19E6,"
dated Beptember l, 19~6, ~ the principal sum of +~16,000.00,
numbered consecutively from I to £16, both inclusive, in denomi-
nation of $1,000.00 each, due serially on }~rch 1st in each of
the years i9£~ to 1966. both inclusive, bearing interes.~t at the
rate of 5~ per aunu~; and of ~Vhioh issue of bond~ there is
an indebted~sesa against said City in the
outstanding cud .u~.paid
principal aura of ~196,000.00; and,
%THEREAS, by au ordinsaace adopted on the 19th day of
~ugust, 19~9, the said City of ~!ainview legally issued it~ bond~,
known as "CITY OF P~I/~,~IE%~ RA~UI~DING B0~.~8, ~RI~ i9~9," dated
August l, 19E9. ~ the principal s~ of $51,000.00, n~bered con-
secutively frOm i to 51, both inclusive, in denomination of
$1,000.00 e~ch, due serially on Auk. st 1st ~. e~ch of the years
19S0 to 19~9, both inclusive, bea~ interest at the rate of 5%
per ~n~; and of which issue ~ bonds ~ere is now outst~di~
a~ unpai~ an indebte~ea~ ~ainst said 0ity in the principal s~
of $40,000.00; ~d,
WHERE~IS, by an ordin~uce adopted on the &th day of
Z~y, 1951, as an~ended by ordinance adopted on the lSth day of
June, 19Z1, the said City of Pl~inview legally issued its bonds,
known as ~'OITY OF PLAINVI~ REPUNDI~G BONDS, SERIES i9~1," dated
February l, 19Z1, in the principal su~ of $80,000.00, numbered
consecutively from I to 80, both incIusive, in denomins, tion of
$!,000.00 each, due serially on February 1st in each of the years
I9ZS to I971, both inclusive, bearing interest at the rate of
b~-~ per s~uu~; and of which issue of bonds there is now outstand-
ing ~nd~u~paid an indebtedness against said Gity in the principal
s~m of $6~ 000,, 00; an~I,
~HEREAS, by an ordinance a&opted on the 10th day of
Febru~r~j, 1906, as ascended by ordinsnce adopted on the llth day
o~ A~ril, 19Z6, ~e s~id Ci~y of P!~nview le, g~lly issued its
bond~, ~o~ ~ "CITY 0F P~&I~I]~ ~w'~(G B0~D~, ~ERIE~ 19~6,"
d~ted ~roh !0, 19~6, in the principal sum o~ $8&, 000 .00 , n~ber-
ed consecutive3~ ~rom I to ~8~, both inclusive, ~ denomi~tion of
$1.000.00 e~oh, due serial~ on ~roh 10th in each of the years
19~ to 19~0, both inclusive, be~ri~ interest at the followi~
rates per a~; that is to s~: Bonds Numbers ! to ~, ~th
inclusive, be~i~ in~ere~t ~t the ~te of ~% per ~n~, ~d Bonds
N~bers ~ to 8~, both inclusive, be~ri~ interest ~t the r~te o~
of which issue of bon~ there i~ now o~t-
indebte~ess ~ainst said Oity in-the
pri~ipal ~m of $60,000.00; ~d.
~F~B, the Oity Oomncil of the City of Plainview
considers it necessary, feasible and practicable, aud to the best
interest of said Oity, to issue refun82Lng bonds to take the place
of the £oliowing desoribed bonds of each of the merie~ herein-
above mentioned; that is to
(a) Bonds Numbers ~1 ~ad ~2, of the issue
~known as ~'CiTY 0P PI~LiNV!EW R~?UNDING BOI~DS, SERIES
1926," dated September l, 1926, due Diarch l, 194t;
the total amount of said issue to be refunded hereby
beir~g ~,000.00;
{b) Bonds NUmbers l& ~zid. 15, of the issue
k~iown as "OITY ~P PLAI~V!EW RF~.~Ui~DING BOiCDS~, SERIES
19~,9,~ dated ~'~=~St l, 19E9, due August i, 19~i; the
total amo~nt of said issue to be refunded hereby
being $~, 000.00;
.(c} Bonds Numbers ~9 to 61, both inclusive,
~nd 69 to ~E, both inclusive, of the issue know~ as
~CIT¥ C~ PLAINVIEW REFUD-DING BOItD~', 8w_~I~
dated ~ebruary-l, 19$1, due se~ially, $$,000.00 on
1st in each of the yes,rs 1966 and i96~,
,000 on February i, 1969; the total am-.ount of
said issue to be ref~uded hereby being $10,000.00; and,
I (d)
BOn ~ N~umbers ~ to ~0, both inclusive, of
the issue kno~ as "CITY OF PIFLII~I~ REFUNDING BO~UDB,
SERIES 19~6,. dated ~roh 10, 19~6, due ~rch 10, 19~l;
the total ~mo~u~t of said issue to be refunded hereby
being $6,000.00.
Ai~D ~w~AS, the amount of in~ebteduess to be refunded
of new or refunding bonds aggregate~ the sum of
refunding bonds ~o bear interest at the rate here-
inm£ter prescribed, and the principal to be payable in serial annual
installments ~s hereinafter stated; it being herein ~ffirmatively
adjudged that the financial condition of the Oity will not permit
the issuance of such refunding bonds in s~oh installments as v~ill
~ke the burden of taxation to s~pport same approximately uniform
throughout the term of said bond issue;,, and.
~A~ ,1%~ $~ ~ 'this Co-a_uoil , upon due investigation, has
ascertained that none of the bonds Ae~einabove mentioned h~s been
aoquired o~ purchased as an investment for the sinking funds of
such cond issues; therefore,
- y
BE IT 0RDAIAUED B THE CITY COUN0iL 0~ THE CiTY 0~
PLA ~VIEW, TE~L& $:
SECTION 1: That, for the purpose of refunding, can-
telling a~d in lieu of a like principal a~bunt of bonded indebted-
ness outstaying against said Oity, hereinabove described, there
shall be issued the bonds of said 0ity, to be ~no~ as "CITY 0~
nominCti~n o£ ONE THOUSAND I~)LIA-RS
O -
payable in num~si'cal order, as loll
) each and due ~.8md
BO~D NUi~ERS_ A~OUNT S
i ~ud 2 Jume l, 1942 $ 2,000.00
3 and 4 June !, 194~ 2,000,00
5 and 6 J~e i, i9~ 2,000.00
7 ~d 8 J~e !, 19~5 2,000,00
9 and lO J~e !, i9~6 2,000.00
!1 ~nd lB J~ne l, !g&~ ~,000.00
13 an~ i~ ~une 1, 19&8 ~,000.00
15 ~d i6 J~ne l, i9&9 2,000.00
17 ~d 18 J~e l, 1950 2,000,00
19 ~d 20 June l, 1951 2,000.00
SECTION 2: ~hat said refunding bonds ~hall bear
interest fr~til paid at the rate of THP~]E AND 0NE~HALP
PER CENTUS~i (3~?~) per annum, payable on December l, 1940, and
semi-annu~l!y thereafter on June let aud Dec~mber 1st, in each
year; such interest to be evidenced by proper coupons attached
to each of ~aid bends. ~
SECTI0 That the principal of and interest on
s~d refunding be payable in lawful n~oney of the
United States of America, upon presentation and surrender of the
bonds or proper coupons, at ~RCANTILE NATIONAL ~K AT Phi. LA8~,
D~%LLiS, TEXA~.
SECTION ~: ~hat each of said refunding bonds shall
be signed b~r of the City of Plai~¢iew, ~Texas, and counter-
signed by the Gity Secretary, a~d the corporate seal of the "CITT
0~' PLAINVIEW, T~S," shall be i~pressed upon each of them; and
the facsimile mignatures of the ~yor and City Secretary may be
lithographed or printed on the interest coupons attached to saia
bonds, and v;nich shall have the sa~e effect as if such coupons
had been signed by each of said officers in person.
~hat each of said refunding bonds shall
contain on its f~ce-these words,:
"!~ ADDITION to all other rights, the holder
or holders of this bond, and of the series of which
it is a part, is ~ud are subrogated to all the rights,
an~ has ~nd have all of the remedies of the holders of
the original indebtedness refunded by this issue of bonds."
!.95
~ECT.IO~: That said refunding bonds shal~ express
upon their ~ t.~ purpose ~r which they are issued,- that they
are issued under amd in strict conformity with th~ Constitution
and l~ws of the State of Texas, including the Charter of the City
of Pl~inview, Te~s, and Chapter 16~, of the General laws p~ssed
by the Forty-second Legislature, ~t its Reguls-~ ~ession in 19Dl;
~ud in pursuaz~ce of an ordinance of this Gouncil; and the for~
of each o£_ said refmtding bonds sh~ll be ~u~st~nti~lly as follows:
NO.
UNITED
ST:&TE O~
COU~3Y 0P HALE.
,~!,000.00
CiTY 0P PL&iNVIE~¥, TEZ~,S, ~e?o~--~-~?- P~_wUi~DING_
B01[D, SERIES 19~0.
CITY OF PD~I~UfIE~, a n:,unicipal corporation of the
S~tate of Tex~s, ac~towledges itself in~Lebted to and, FOR ~'~v_,~ZUE
OEIVEI)~; hereby promises to p~y to bearer, the sum of
ONE THOUS2Z~3 DC)LI~LRS
(~1,000.00), in lawful mone~ of the United S:tates of 2re:eries, on
the FIRST DAY 0~ JUI~E, 19 , with interest thereon fro~ the date
hereof until paid at the
per azmum, payable on Decentber l, 1940, smd semi-sm.mually thereafter
on June 1st and December 1st, in each year, as evidenced by the
coupons hereto attached,
BOTH PRINbIPA~ and interest o£ this bond are hereby m~de
payable at ~'~RO~NTILE NATIONAL BA~VK~ f~T D.~:~LL~s, DALLAS, TE~s.
THIS B01~D is one of a series~ of Twenty {20) serial bonds,
of like tenor and ef£ect, except ~s to ~nu~ber and maturity, d~ted the
first day of June, 19&0, numbered consecutively fro~ One ~[1) to
Twenty (S0), both inclusive, in denomination of ~e Thousand Dollars
( $1,000 ..00 ) each,~ aggregating T'WEI~.T THOUS~ DOZ~S ( ~0,0 00.00 ),
isa. mod for the pu~ose of refmtding, ca~ncelli~ ~d in lieu of a
liP~ prinoipa, l ~ount of bonded indebte~ess outstandi~ against
said City; ~d 'this bond is issued under ~nd in strict conformity
with the Constitutioz~ ~d l~ws of the S~tate of Te~s, including the
Charter of the Oity of Piain~ew, Tex~s, and 0h~Dter 16Z, of the
General Z~ws p~ssed by the ~orty-second legislates, at its Regular
~ession in 19~l~ ~d in pursuance of an ordinauce duly passed ~d
~dopted by the O~ty~' Co~c~!~ ' of sa~d' Oity and ~ly recorded in the
Einutes of said Oity Oo~cil,
.IT iS ~BY CE.RT~.~D, iLEOITED AND ~ESE!~ED that all
acts, condition,s and things necessary to be done precedent to a~td in
zhe issuing o£ 'these bond2, in order to make the~ legal, valid and
bindimg obligations of said City, have been done, happened and per-
formed, in rsgular and due form, as required by l~w; that the faith,
credit and: resources of said City are hereby irrevocably pledged for
the P~ompt pay~ent of the principal and interest of these bonds at
maturity; th:at due provision ~s been made for levying and collecting
annually~ by zaxation an a~ount sufficient to pay the interest
on these bond's as it falls due, and to provide a sinking fund
for the final redemption of said bonds at maturity; and that
the issue of bonds of whi:~h this is one, together with all
other indebtedness of said City, is within every debt and other
limit prescribed by the Constitution and l~ws of said S[tate.
IN ~DITION to all ether rights, the holder or
holders off this bond ~d of the series of v~hich it is a part,
is ~d are subrogated to all the rights, ~d has m~d ha~e all
off the remedies off the hold, rs of the orig~al indebtedness
ref~ded by this issue of bonds.
iN WIT!~SS ~EREOF, the Oity Council of the Oity
Plai~iew, Texas, has ca~sed t~ seal off said City to be
ixed hereto, ~d this bond to be signed by the i~yor ~d
countersigned by the City Secretary, a~ the interest
pons hereto attached to be executed by the lithogr~phed
printed ~ac~ile signatures of s~d ~[ayor ~d City ~ecretary;
the date of this bond, in co~or~ity with the ordinance above
referred to, bei~ ~e ~irst' d~ off ~une, 19~0,
~~r~y o~ Pla inview, Tox.
COUI~E~!G~D:
T o~a~ ·
~ECTION 7: That the £o~ of interest coupon attached
to each of ~ding bonds shall be suostautlall~ as fol-
lows:
NO. ON THE DAY OF ....... ,
~' 19 ·
the CITY 0~, PLAIiOfiEW, a n~unicipal coz~poration of the State of
Texas, hereby promisem to p~y to bearer, at }¥~RC~TILE I~'fATIOI~AL
BAI~K AT DAI~AS, DALZAS, T~AS, the sum of
DOLLARS
), in lawik~t money of the United S;tates of ~merica,
~~ n~onths' i~terest d. ue that day
the "0i~ OF P~~ ~ ~Ui:~I'NG BC~, S~ t940.,"
dated J~e l, !940, Bond No, ,
SEOTION 8: That the fotiowiog certificate shall be
printed on t~-~-~ each bond:
_97
REGISTER NO.
I HEREBY CERTIFY that there i2 on file smd of record
in my office a certificate o~Z the Attorney GeneraI of the State
of Texas, to ~;he effect that this bond has been examined by him
as reGuired by I~w, and that he finds that it has been issued
in conformity ~ith the ~onstitution and laws of the State of Texa~,
and that it is a valid snd binding obligation upon said ~ity of
PlS~inview, Texas, and sai~ bond has this day been registered by
~[TI~ESS' ~'~Y HAND A~O SoAr,~ OF ]~,~ OFFICE at Austin,
Texas, this the ~ day of ~_ _ ..... , !9~0.
~{~tro~ile"r of -Pu.~-ACco unts of'~
the '.~tate of Texas.
S~,CTi0}~ 9: BE iT z'U_,THi~q 0RDA!!~ED BY TIlE CITY COUNCIL
0P ~.~ CIT'Y 0P PLA~[~-fE'~, TEaSeL
That to pay the interest on said refunding bonds and
create a sinking fund sufficient to redeen~ them at maturity, ~
tax of T~?0 CENTS ~29/) on each one hundred dollars' v~luation of
ali ~s~xable property in the City of Plainview, Texas, shall be
annually levied on said property .~ud ~anu~lly assessed and col-
lected~ or so n~uch thereof as shall be necessary, or in additioh
thereto as may be required, until said bonds with interest thereon
have been fully paid; and the said tax of TWO CENTS (2~~) is here
and now levied for the current year, and the said tax, or so much
thereof as shall be necessary, or in addition thereto as may be
required, is hereby levied for each succeedimg year while said
~.onda, or say of them, are outstanding, and the s~e sh-~ll be
a~uu~lly assessed and collected a~ud applied to the purpose named.
Ati monies in the Sinking Funds, a~d all taxes hereto-
fore levied or in process of collection, for the benefit o£ the
bonds being ref~mded by said refm~dir~' bonds, shall be and the
same are hereby appropriated to the benefit of said refunding
bond~.
~E. uTI0I~ 10: B~ IT z'URTHE~ ORDAINED BY g~ CITY 00~CIL
THE CITY b~E~, TEtZAS:
That the ~,~ayor of said City shall be s~ud is hereby
authorized to take and have chs~ge of all necessary records
pertinent ~o said refunding bonds pending the investigation there-
of by' the Attorney General of the State of Texas, and the ~ayor
shall also take and have 'charge and control of the bonds herein
authorized pending their approval by the Attorney General and
their regis'cration by the 0omptrol'ler of Public Accounts,,
SECTION t1: ]BE IT PURTHEit 0RDAI!fED BY TPZ~ CITY CODq{CIL
0~ TE~" CITY"~~EW,~ T~S:
That all ordinances and parts of ordinancem in conflict
herewith shall be, and the same are hereby, repealed, and the or-
dinance passed s~ud adopted on June S, 19~0, of record in Book 8,
page 180 et seq,, of the ]~inutes of the City Council, authorizing
the i~ssuance of $20,000.00 "CITY OF PL&!NVIE'~, TEXAS, 3~ RE~UNDiNG
BONDS, ~RiE5 19~0," dated June l, 1940, ia hereby, in al! things,
particularly repealed°
,23~D BE IT FUET~R O~AINE~ BY THE CIT]f
COUNCIL OF T~E CITY OF P~I~F¢IE~, TE~.S:
The fact that the prompt refu~ndi~ o~ the outstanding
bo~s herein~oove described is essential to the best financial
interest~ s~d co~erci~ credi~ of s~id City, co nstitu%ea and
cre~te~ an emergency and ~n ~gent ~ublic necessity requiri~
t~t th~:~rml~'~'~ provi~ :~o~,:'~o~di~an~es?~ to CBee~ead mcr e th~n
one t~e or at more th~ one meeti~ be suspended, znd requir-
ing that this orinoco be passed as and take effect as ~
emergency mousse, 8nd ~Oh r~es ~6 provisions Ce accord-
ingly suspended ~d this ordinate is pressed ~8 ~ e~¢rgeney
measure and sh~ll t~e effect ~d be in ~orce from ~d after
its p~saage ·
P~%S~D AI~ ~PROV~, on this the 19th day of June
!9~0.
John ~. DuBo se
}~yor, City of PlainView, TexaS.,..
ATTEST:
J
nview,
(Git y S~eal)
CERTIPICATE OF CITY SECRET~ARY
THE S~TATE OF TEXAS,
CiTY OP PDAINVIE~,
COUNTY OP HALE.
I, J. L. Gallawmy, City Secretary of ~e City of
Plainview, Texas, DO HE.RUBY CERTIFY that the attached aud fore-
going is a true and correct copy of---
ORDINANCE by the City Council of the City of
lainview, Texas, authorizing the iss~auee
f bonds ~er the principal so~ of ~EO,~O0.O0,
bearing interest ~t the rate of S~/~J per a~num,
for the purpose of refunding, cancelling and
in lieu efa like principal amount of bonded
indebtedness outstanding against s~id City;
prescribi~ the form of bond and interest
coupon; providing for the levy, ~s~essment
and collection of a tax on the one hundred
dollars' valuation o£ all taxable property
within the limits of said City sufficient to
pay the interest on said bonds aud~create a
sinkisg ~ftu'ld for the rede~,uDtion'of such bon~s
&t maturity; repealing all ordinances in con-
i~_ict herewith; and declaring au emergency";--
~d which said ordinance was unanimously passed by the ~ity