ORD CC 05/04/1920 - Issuance of Bonds ORDILIAMOS AUTHORIZING THIS I3SUAnOR OF BOB DS.
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�\ a n ordian oe authorizing the issuance of bonds for
the purpose of making permanent extensions and additions to
the Seer System of the City of Huntsville , and providing for
the levy and oolleotion of a tax to pays the interest and
create a sinking fund for the redemption of said bonds.
Whersue, at an election held for the purpose on
the 12th day of April, 1920, a majority of the qualified
voters who are property tax payers of the City of Huntsville,
Texae, voting at said election sustained the proposition to
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issue the bonds hereafter described, by a vote of 91 for the
issuance of bonne and a vote of 31 against the issuance of F
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bonds:
`•'herefore be it ordained by the City Council of the
City of Huntsville in Council assembled :-
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1/ That the bonds of said City to be called "City
of Huntsville Sewer Bonds of 1920" be issued under and by
virtue of the aevieed Statutes of ;texas for the purpose of
making permanent extensions and additions to the sever system
of the City of Huntsville.
L. Said bonds shall be numbered consecutively from
one to ten, inclusive, shall be of the denomination of
#500.00 each, aggregating the sam of rive thousand (Ob000.00)
Dollars.
3, They shall be dated the first day of July, 1920,
shall become due and payable forty years from their date, but
may be redeemed at the pleasure of the City of Huntsville at
any time after ten years from their date.
�.t. They shall bear interest at the rate of five
per cent per annum, payable semi-aannally on the first dais
of January and July of each year. t
b. 'The principal and interest shall be payable on
presentation and surrender of bond of jr-o,,er coupon at the
Huntsville State Bank of Huntsville , 'exas, or at the National
Bank of Commerce of 14ew York at the option of the holder.
6. Said bonds shall be signed by the lIayor, counter-
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signed by the :
ORDIA&MCli AUTHO-MI80 THE ISSUANCE OF BONDS.
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An ordianoe authorising the iseuanse of bonds for
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the purpose of paving the streets of the 0ity of Huntsville ,
and providing for the levy and collection of a tax to pay the
interest and create a oinking fund for the redemption of
said bonds.
Whereas at an election held for the purpose on the
12th day of April, 1920, a majority of the qualified voters
who are property tax prayers of the City of Huntsville, 'Texas,
votinj at said election sustained the proposition to issue
the bonds hereaftor described by a vote of 91 for the iss uan-
oe of bonds and a vote of 31 against the issuance of bonds.
Therefore be it ordained by the City Council of the
City of Hantavillo in i:oiLnoil Assembloac
1. That the bonds of said City to be called "City
of Huntsville Street paving Honda of 192011 to be issued under
and b;, virtue of the Revised Statutes of Texas for the pur-
pose of piaviAi the streets of the acid City of Huntsville.
L. Said bonds shall be numbered consecutively from
onv to fifteei,, inclusive, snail be of the denomination of
j5DO.00 each, aggrbdatino the ens !,r -even Thousand Five
Huadred Dollars. (J7600.00)
3. ':hey shall be dated the first dc;; cf July, 1920.
Shall become due and payable forty years from their date, but
may be redeemed at the pleasure of the City of E untsville at
any time after ten years from their date.
4. !hey shall beer irtereet at the rate of fire per
cant per anus, payable semi-annually on the first days of
January and July of each year.
6. she principal and intoreet shall be payable on
preaeutation and eurrender of bond or proper coupon at the
Huntsville otute Bank of Huntsville, texas, or at the National
Bank of Come erne of Nov; Yore, at the Option of the holder
Ban 6. Said bonds shall be signed by the mayor, counter
- E the City Seoretary and registered by the City
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Treasurer and the seal of the City ahall be impreseed upon
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each of them.
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7. }he fac simile signatures of the Mayor and City
Secretary may be lithographed on the oonpon$.
b. It is further ordained by the City Cohnoil of the
City of ijimtoville that to pay said bonds and ornate a sinking
fund to discharge these at maturity a tax of 4* oents on eaoh
one hundred dollars valuation on all taxable property in said
City of Huntsville shall be annually levied on said property
and annually aecesaed and collected until said bonds and in-
terest are paid and said tax of 4r cents on the one hundred
dollarslOUt of a tax of twenty five cents levied, for the par-
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pose of paying interest and oreatc a oinking fund to redeem
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all outstanding bonds of the City of Huntsville. including
this series by this Counoil on the 4tu day of may, 1920, is
hereby appropriated and set aside to pay the inter t and
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t create a sinking fuzid for the current yeKr, and shall be
assopaed and collected and so applied ; and said tax Is hereby
levied for each year hereafter wbi.4 said bonds are outstanding
and the ecooee shall be annually asseneed and collected and
applied to the purposes named.
9.1t IF also ordained that 1 1' Adiokes, Mayor, be
authorised to take and have charge of said bonds pending their
invontigation by the attorney l}eneral,and upon their approval
and rsgistration shall have authority to negotiate their sale
and receive for the City the prnoeeAs thereof.
Referred to the Finance Committee on this the 4th
day of Uay, 1920.
f S Humphrey. Mayore
we, the Finance Committee, to whom the above and fore-
going ordianoe has been referred do hereby reeomxend that said
ordinrinoe be pawed.
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> . Sam McKinney
H U Leigh
�"% W R Hance.Finance Committee.