Ord 54 6/1/1904 4
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iUAL ,-TZREST AND CR'L`-_j,4'.TE ii S)I.L;.L-L G L-'U-L ,H LL T 0 _.kly �"!D
30-NDS "'T 111.41.TURITY.
"-�'E 13, IL' 'ii�ichita Ya.Lis, '2exas 'LiU6 hereto-
fore ,,i ,REi,. tiie :'ity o
issued and delivered and scrip of various dates aiid
for various amounts and to various creditors of said City, said
warrants acid scrip being 1.-no,;.,-n t--,eltlerally as valid floating in-
debtedness c)--,L, said city ("Lie justness and correctness of each
iteLi of iiich indebtedness has heretofore beery carefully investi-
gated and formally admitted by the City Council of said City ) of
wa, ch said wL�rrulits amid scrip
p triere is outstanding and unpaid
the s-LL-i of 'ive Hulidred Dollars ; aiid,
the holders of said warrants and scrip are
willing to surrender tile sai.ie, and to accept either ,)oiids bet,rLL6
u less rate of interest or the anuounit due on said viar2ar,,ts Uiad
scrip; ".-iia,
it LE ' S, t,,je accoI-.i)jishLe.,A of this result is deemed
to be to the best interest of the said City of ..,ichitu 2'uliLi,
Mi LPEPORE, be it o -duiLiId by -lie City Council of til
e,
Jity of "icilit'a 2ulls Tlex4s :
6EUTIO-N I : That article T�l et seq Y;ev_ised ;statutes
of theestate of 12e�as, 169o, be ui_ld tI.,e su",-,.,e are, hereby adopted,
except in so far as said articles are nodiyiea, altered or re-
pealed by tile, tiie L;tate of Texas.
C T 10 I'l, I'lhat the 3oilds of said Jity, to ue called
tale ,,City of I
J_ cexas, -efundin- 'Bonds" L)e issued
under and by virtue of rticie 471 et seq, except in so far as
said articles -,-.re i.,iodil"ied, altered or repealed by the Legislature
of - tie - 116, cancelling
the state of 1`1e.�cus) for t1 , purposes of re+L'undii cu-
aiid in lieu of warralits aiia scrip heretofore referred to and
de6cribcd.
1'Cflo G . Said 3-o_ids shz.11. be au.,_ibered cons-c-cutivel-
from I to o Liclusive Lnd sha-L1 be oi' L,116 of )bG6.00
sure of tiie
G i2 10 1�, i2iie, Li�i,,ii be dLA.�_,u t.le ist- day ofJuly
ll�jz., shall becul-';Ie dae and payable qu - e"rs ii,uiii their date,
but i_,iay be redeei.ied Ut pleasure of the City at any tii.,ie after
ten years zroi.-, their date.
SILiCTION b : They shall bear interest at tiie rate of
0
per C�nnuw -oa7rable annually on July 1st of each ,ear.
S1L]C T 10 N 6 Principal and interest shall be ijuyable
W
on prese.-ituatiol-I of _'IoncLs or p-2o _;er (jouj)oi: at icnita tails,
Texas.
a'ECTIOId 7 . Said 3o ids sizall be s i�nea by file ; Ly or,
counters ibned by the City Secretary and registered by the City
Treasurer and the seal of tree City sliwli be impressed upon
each of them.
"ECTIO11 S 'ilhe lac-siliilie signatures of .,'=ayar "t"C!
City secretary -,iay be litho: rapped on trie Coapo�is.
SECTIOIS 9 : It is urther Ordained by said City
Council that to tay trie i.1te:_°est acid create a sinnir� fund
sufficient to discharge tiieLi at maturity a tax at the rate of
1 ;6%4 cents on each one hundred dollars valuation of ail taxa-
ble property in said City of 1i ic.Ata galls, Texas , shall be
annually levied on said property and annually collected until
said :)or,.ds and interest thereon are paid, and said tax of 1
cents on the lUO.UO oat or' a tax of L;o cents Levied fur
general purposes by said Council on the List day of Dece::iber
1906 (tile Ordi.aanee said levy being recorded on -'s.ge
u86 of Rook 1 of the l;inutes of said Council ; is hereby approp-
riated aild sei, aside to juay the interest and create the neces-
sary siii].i-lig fund for the current year u_id shall be assessed
and collected arcs so applied, ana said tax is hereby levied
for each year hereafter while said bonds are outstandi.ig pia
t ie sai'ie shall be annually asses6ea and collected and applied
to the purpose nsr:led.
c'ECTION lU: It is also ordained that f. 3 . Eoble
be authorized to ta1,e and have charge of said Ronds, pending
their investigation by thettorney General of the State of
Texas, and upon their approval ana registration shall have
authority to negotiate their sale and receive for the City the
proceeds tiereof.
ULCTION il: r,hereas, there exists an im erative
public necessity for the i»ri,ediate passage of this ordinance
by reasons of existing coi.aitions, ari c..1ergency exists so that
tree rule reruiring ordinances to be read on three several
days should be and is hereby suspended and this Ordinance
tames ef 'ect aizd is in force from and after its passage, and
it so enacted.
_.L SD D this 0 L day of ::ay 19U4.
I:PPROVED this lot day of June lyU�: .
(Signed) T. B . T'obie,
"ay or
'.TTEST :
(Signed)
Edgar Rye, City Secretary.