ORD CC 11/04/47 - Street Improvements"AN ORDINANCE AMENDING SECTION 11 OF AN ORDINANCE OF THE
CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS, DATED
NOVEMBER 4, 1947, ORDERING THE ISSUANCE OF $50,000.00 OF
STREET IMPROVEMENT BONDS OF SAID CITY, TO PROVIDE FOR THE
LEVY, ASSESSMENT AND COLLECTION OF A TAX OF FIFTEEN (150)
CENTS ON THE ONE HUNDRED DOLLARS VALUATION. OF ALL TAXABLE
PROPERTY WITHIN THE LIMITS OF SAID CITY TO PAY THE INTER-
EST AND CREATE A SINKING FUND FOR TEE REDEPTION THEREOF;
APPROPRIATING MONEY OUT OF THE AVAILABLE REVENUES ON HAND
TO PAY TEL INTEREST ON SAID BONDS DUE ON JUNE 1, 1948 AND
ON DECEMBER 1, 1948; AND DECLARING AN EMERGENCY."
Section 1: Thst Section 11 of an ordinance of the City
Council of the City of Huntsville, Texes dated November 4, 1947,
ordering the issuance of Fifty Thousand ($50,000.00) Dollars of
street improvement bonds of said city be and the same is hereby
amended so as to reas es follows:
"Section 11: It is further ordpined by the City Council
of the City of Huntsville, Texas, that Nhile said bones,
or any of them, are outstanding, and unpaid, there shall
be annually levied, E-SS ssed and collected, in due time,
form and manner, a tax upon all of the taxable property
of said City of Huntsville, sufficient to pay the current
interest t ereon and to create a sinking fund of at lest
two (2%) per cent and sufficient to pay each installment
of the principal as the s'me becomes due, in accordance
with the mandates of the Laws and Constitution of the
State of Texas. To pay the interest on said bonds for
the first year and to create a sinking fund eith which
to pay the principal ES the serene becomes due, in accord-
ance with the Laws and Constitution, there is hereby lev-
ied e tax of fifteen (151') cents on each One Hundred Dol-
lars valuation of taxable property in said city for the
year 1948, and the same shall be assessed and collected
and applied to the purpose named; and while said bonds,
or any of them, Ere outstanding and unpaid, a tax for each
year at a rate from year to yeer, es will be ample and suf-
ficient to provide funds to pay the current interest on said
bonds and to provide the necessary sinking fund, full allow-
ance bein made for delinquencies and costs of collection,
shall be, end is hereby levied for each year, respectively,
while said bonds, or any of them, are outstanding and un-
paid, and said tax shell each year be assessed and col-
1ec4ed end applied to the payment of the interest on and
principal of said bonds.
Out of the revenues of the City of Huntsville now on hand
there is hereby appropriated the sum of Six Hundred Sixty
Five ($665.00) Dollars, which said sum shell be and is
hereby ordered to be set 'side for the purpose of paying
the interest on said bonds due on June 1, 1948, and a
like amount is hereby appropriated out of the revenues
of the city now on hand, which sum shall be and is hereby
ordered to be set aside for the purpose of paying the in-
terest on said bonds due on December 1, 1948."
Section 2: The fact that the Attorney Genera/ of the State
--- Texas, before approving the bond record and bonds, has required.
that Section 11 of spid ordinance be amended so as to provide for
specific tax levy for the year 1948, creates en emergency and an
imperative public necessity that the rule requiring ordinances to
be read on three separate days before final passage be suspended,
and such rule is hereby suspended, end it is ordained that this
ordinance shall take effect end be in full force immediately after
its passage and approval.
The abolie and foregoing ordinence, upon motion duly made
and seconded, was adopted by the unanimous vote of said council,
end is approved by the Mayor, in open council, this the 26th day
of November, 1947.
/s/ Wilbourn S. Gibbs
MAYOR, CITY OF HUNTSVILLE, TEXAS
ATTEST: (SEAL)
/s/ Kate Herr Ross
CITY SECRETARY