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Ord 459 8/27/1923i` C I T Y City of Wichita Falls, Texas, August , 1923. The Board of Aldermen of the City of Wichita Falls net in regular' session at the City Hall, in said City, on this the day of August, A.D. 1923, with the Mayor and all of the Aldermen, the City Clerk, and the City Attorney, present, when, among other business transacted, the following ordinance was pasNad, to The Mayor presented to the Board for its consideration an ordinance titled-- "AIT ORDII�AITCE CONFIFMING CONTRACT BETWEEIT THE CITY OF WICHITA FALLS AND R.B. GEORGE MACHII;ERY COMPANY FOR THE FURTISHING TO SAID CITY OF ONE BEST 1160" TRACKLAYER TRACTOR; MAKING AN APPRBPRIATION OF $1225.00 FOR CASH PAYMENT ON SAID TRACTOR; PROVIDING FUR ISSUANCE OF CITY OF WICHITA FALLS STREET IMPROVEMENT WARRANTS TO EVIDENCE THE CITY'S INDEBTEDNESS THEREFOR; AUTHORIZING DELIVERY OF ONE 5 -TON HOLT TRACTOR TO SAID R.B. GEORGE MACHINERY COMPANY; PROVIDING FOR THE LEVY OF A TAX TO PAY THE PRINCIPAL AND INTEREST^ OF SAID WARRANTS AT MATURITY'; AND DE'CTA IrC AlT .��: ;?ERGF14 1f Moved by Alderman , seconded by Alderman � that the ordinance be read in full. Motion carried and the ordinance was read in full by the City Clerk. Moved by Alderman Alderman reading. TUB: Aldermen NAYS: None. d by, Ald Alder to be j�Xac\ on thrAe separat mou�/vote o -ALAV members 9(- t , seconded by , that the ordinance pass its first and th the r e req s, n ss d s1� nsed d, U' s usp sec d b r ng or nances i h by un ni- and t� t said ordinance be placed upon its second and final readings and pas- s aoe. YEAS: Aldermen and NAYS: None. Said ordinance was read second time and passed by the fol - loving vote: YEAS: Aldermen and NAYS: None. �:4o ved by Alderman , seconded by Al - Berman that said ordinance be read in full by the City Clerk and -that same be finally passed. Said ordinance was read in :Cull by the Clark and passed by the follativing vote: YEAS: Aldermen and DAYS: None. The ordinance follows "AIT ORDIIaANCE "CONFIRMING CONTRACT BETWEEN THE CITY OF WICHITA FALLS AND R.B. GEORGE 11TACHINERY COMPANY FOR THE FURNISHING TO SAID CITY OF ONE BEST "60" TRACKLAYER TRACTOR; MAKING AN APPROPRIATION OF $1225.00 FOR CASH PAYMENT ON SAID TRACTOR; PROVIDING FOR ISSUANCE OF CITY OF WICHITA FALLS STREET I1,1PROVIV TENT WARRANTS TO EVIDENCE THE CITY'S INDEBTEDNESS THEREFOR; AUTHORIZING DELIVERY OF ONE 5 -TON HOLT TRACTOR TO SAID R.B. GEORGE MACHINERY COMPANY; PROVIDING FOR THE LEVY OF A TAX TO PAY THE PRINCIPAL AND INTEREST OF SAID WARRANTS AT MATURITY; AND DECLARING AN DilERGENCY. WHEREAS, the Board of Aldermen of the City of Wichita Falls has heretofore determined the necessity for the construction and maintance of the streets of said City and has determined the advis- ability and necessity for the purchase of a tractor for said City, and Street Commissioner N.M. Clifford, acting for and in behalf of said City and its Board of Aldermen, has entered into contract with R.B. George Machinery Company, of Dallas, Texas, for the purchase of one Best "60" Tracklayer Tractor complete with 16" track shows and complete set of s reet plates and bolts and tools, the purchase price therefor being one 5 -ton Holt tractor now owned and in pos- session of the City of Wichita Falls and $5250.00 to be paid $1250.00 in cash less 2%, and the remaining $4,000.00 in legally issued 6% warrants of the City of Wichita Falls, and WHEREAS, said contract has been duly considered and under- stood, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS: (1) That said contract be ratified and approved and said contract is hereby ratified, con lrmed, approved and adopted, and this Board declares the same to be the act and contract of this Board of Aldermen and of the City of Wichita, Falls. (2) BE IT FURTHER ORDAINED that in accordance with said contract the sum of One Thousand Two Hundred Twenty-five ($1225) Dollars (being $1250 less 2y,) be and the same is hereby appropriated out of funds in the City Treasury heretofore set aside for Road do Bridge do Street purposes and which have not been otherwise appro- priated, and said sum shall be paid to the said R.B. George Machinery Company. (3) That warrants of the City of Wichita Falls to be denom- inated "CITY OF WICHITA FALLS STREET IMPROV.EIMEI+T WARRANTS," be is- sued in the amount of Four Thousand ($4,000) Dollars, payable to R.B. George Machinery Company, or bearer, evidencing the indebted- ness due by the City of Wichita Falls under and by virtue of said contract and claim and this ordinance. (4) Said warrants shall be numbered from one (1) to four (4), inclusive, shall be in the denomination of One Thousand ($1,000) Dollars each, aggregating the surd of Four Thousand ($4, 000) Dol- lars. (5) They shall be dated August 15th, 1923, and shall be- come due and payable as follows : jARRAIifi NOS. DATE OF MATURITY 1 February 15, 1924 AMOUNT 2 . 00 February 15, 1925 $ 1,000. 3 February 15, 1926 1,000.00 4 1,000.00 February 15, 1927 1,000.00 (6) Said warrants shall bear interest at the rate of six (611) per centum per annum from date until fully paid, inter- est payable February 15th, 1924 and semi-annually thereafter on the 15th days of August and February of each year, which interest is a part of the contract price agreed to be paid; principal and interest of said warrants shall be payable at the Continental & Commercial rational Bank, Chicago, Illinois. (7 ) Said warrants shall be signed by the City Clerk, countersigned by the Mayor, and registered by the City Treasurer and the seal of the City of Wichita Falls shall be impressed upon each of them; the facsimile signatures of the Mayor and City Clerk may be lithographed upon the interest coupons attached to each of said warrants. (8) Said warrants shall be in substantially the following form: I"T o . UNITED STATES OF AMERICA $ 10000.00 STATE OF TEXAS CITY OF WICHITA FALLS CITY OF WICHITA FALLS STREET IMPROVE1,IErT WARRAIIT TRE CITY OF WICHITA FALLS, a municipal corporation duly in- corporated under the laws of the State of Texas, for value re- ceived, is justly indebted and hereby promises to George Machinery Company, or bearers on the 15th day ofoFebruary, 19 , at the Continental & Commercial rational Hank, Chicago, Illinois, the sum of ONE THOUSAND DOLLARS in lawful money of the United States of America with interest thereon at the rate of six (6;') per centum; per annum Payable February 15th, 1924 and semi-annually thereaibr on the l5thldays of August and February of each year; and the City Treasurer of the City of Wichita Falls is hereby authorized, ordered and di- rected to pay to the R.B. George Machinery Company, or bearer, said principal sum, together with interest thereon evidenced by coupons attached hereto, principal and interest payable at the Bank above named upon presentation and surrender of warrant or properr coupons. In event this warrant or any of the interest coupons attached hereto, shall not be paid at maturity, they shall there- after bear interest at the rate of six (6 0 ) per centum per annun, until fully paid, and in the event it is necessary to place this warrant in the hands of an Attorney for collection, or to institute suit on this warrant or any annexed coupons, the Cit T of Wichita Falls obligates itself to pay an additioral ten (10% per centum as Attorneys, fees. THIS WARRANT bered consecutively is one of a from one (1) series of four to four (4), (4) warrants, num- inclusive, denomination of One Four Thousand ($1,000) Dollars in the each, aggregating Thousand ($49000) ing the pollars, issued for the purpose indebtedness of the City of evidenc- of Wichita Falls to the said R.B. George Machinery Company, or bearer, for the purchase of one Best 1160" TRACILAYER TRACTOR, under and by virtue of the Consti- tution and laws of the State of Texas and the City Charter of the City of Wichita Falls, Texas, and pursuant to an ordinance duly and legally passed by the Board of Aldermen of said City on the day of August, 1923, which ordinance is recorded in Book at pages et seq., of the Minutes of said Board of Aldermen. THE DATE of this warrant, in confirmity with the ordinance above referred to, is August 15th, 1923. AND IT IS HEREBY CERTIFIED AND RECITED that all acts, con- ditions and things required to be done precedent to and in the is .uance of this warrant, have been propel -*y done, have happened and been performed in regular and due time as required by law, and that the total indebtedness of said City, including this war- rant does not exceed any Constitutional or statutory or Charter limitation. IN WITNESS WHEREOF, the Board of Aldermen of the City of Wichita Falls has caused the corporate seal of sE-Ad City to be hereto affixed and this warrant to be signed by the City* Clerk, countersigned by the Mayor, and registered by the City Treasurer, as of the date last above written. Countersigned: y er , W eh a Falls, Texas. ayor, ich a Fa ls, axes. REGISTERED: City Treasurer,chi. a Falls, Texas. The interest coupons attached to each of said warrants shall be substantially as follows : No. ON THE 15th DAY OF , 19 the City Treasurer of the City of Wichita Falls, Texas, will pay to F.A. George Machinery Company, or bearer, at the Continental & Commercial National Bank, Chicago, Illinois, the sum of ($ ) Dollars, said sum being six monthst interest due that day on --of Wichita Falls Street Improvement Warrant No. dated August 15th, 19232 to which this coupon id attached and is a part 'hereof. C ty Cleric. Mayor. On the back of each of said warrants there shall be printed the following : FOR VALUE RECEIVED,the R.B. George Machinery Company hereby transfers, sells and delivers the within warrant, to- gether with interest coupons annexed, to bearer, without recourse on it, and the bearer hereof is hereby subrogated to all claims, liens, rights and interests, whether at law or in equity, which are or may be secured to it by said warrant and the contract by authority of which same was issued, and the bearer hereof is author- ized to collect the same and to give full receipt and acquittance therefor. R. B. G EORGE MACHINERY COMPANY, By (9) BE IT FURTHER ORDAINED and declared that said tractor has been demonstrated and tried out upon the streets of said City of Wichita Falls to the entire satisfaction of this Board of Alder- men and that said City has received full value and consideration under its contract with R.B. George Machinery Company. (10) That "City of Wichita Falls Street Improvement Warrants" Nos. 1 to 4, inclusive, herein authorized, aggregating the sum of Four Thousand ($49000) Dollars be executed and delivered to said RZ' George;Machinery Company, in accordance with contract, and that by one second-hand five -ton Holt tractor now owned',,*nd in the possession of the City of Wichita Falls be delivered to the said R.B. George Machinery Company in accordance with contract between this City and said R.B. George Machinery Company. (11) BE IT FURTHER ORDAINED that a fund be and the same is hereby made, created and shall be set aside out of the funds of the City of Wichita Falls, and shall be designated "SPECIAL STREET IMPROVEMENT WARRANT FUND," which fund, when collected, shall be used for and applied to the payment of interest on said warrants and the principal thereof at maturity, and for no other purpose; that to create said fund to pay the interest on said warrants and to provide the necessary sinking fund to pay the principal at matur- ity, a tax of _W__ cents on the $100 valuation of all taxable property in said City of Wichita Falls is hereby levied for the current year 1923, out of the annual fifteen cent Road, Bridge and Street Tax, mentioned in Section 742 subdivision (a) of theOSSF Charter of the City of Wichita Falls; that during each year there- after while any of said warrants are outstanding 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, based upon the latest approved tax rolls, 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 due for that year upon the amount of this series of warrants outstanding and unpaid, and .for each of said years there is hereby ordered to be levied a tax at such rate as shall be found necessary as aforesaid; and all such taxes, when col- lected, shall be appropriated to the purposes named and no others. (12) The fact that the Pity of Wichita Falls is in very great need of the construction of street improvements for the convenience of the public and the preservation of the property of the City and of its citizens, creates an emergency and public necessity that the rule requiring ordinances to be read on three several days be suspended, and said rule is hereby suspended, and this ordinance shall take effect and be in force from and af- ter its passage, and it is so ordained." PASSED, this the day of August, A.D. 19239 APPROVED, this the day of August, A.D. 1923s Mayor, City of Wichita Falls,Texas. Attest: Cly Secretary. Aprroved as to form: My Attorney. THE STATE OF TEXAS ) COUNTY OF WICHITA ) I, , City Clerk of the City of Wichita Falls, Texas, hereby certify that the foregoing is a true and cor- rect copy of the minutes of a meeting of the Board of Aldermen of said City, held in the City Hall of said City, on the day of August, 1923, showing the passage of the ordinance th ere n re- ferred to as the same appears of record in Book , at pages et seq., of the Minutes of said Board. Given under my hand and the seal of said City, this the day of August, A.D. 1923. (CITY SEAL) City Clerk, Wichita Falls,Texas.