ORD CC 05/04/1920 - street paving bonds & tax levy0RD11GkNCB AUTH02IZING
lan ordiarwe
the pLupose of paying
send pruyidiiig ft)r lwhe
interes t and orate a
said boad,B*
`i7harew3 at
THE ISSIUjUiCE OF BONDS.
authorizing the issuance of bonds for
the s,4_-eotB of the I`JIizW of Hantsville,
layZt and 3ollection of a tax to pay the
bin-king fund for the redemption of
in election held for the purpose on the
12th day of '920, Et majority of the qualified voters
who a---e proparty ta;t payeru of the City of 1juntsTiI.Le, Texas,
70tinj at said 61actiwn wastainea the proposition to issue
the boadu hereafta.,;^ aesoribea by -a vote of 91 for the issuan-
ce of Bonds and a vole of 3i aggainst the isuaanoe of bonds.
Therefore be it ordained by the City Council of the
Uity of Huntaville in iteserablea:
-1 , that the bonds of maid Gity to be culled "City
of Hu.-iteville j- reot pavi: -Lg sj.-)nds of 192011 to be issued under
and b,, a viiAus of the lievised statutes of Texas for the pur-
po2e of paving the street: of the wiid QAity of Huntsville.
4. Iiaid bone shall be numbeeed consecutively from
one to fiftew.., Liclusive, snall, ba of the denoi",=tio;n of
45-J0.0'V' each, aggre-atinz-, tine sum -if -.'even -::hoasund Five
liandred Dollars. (7600,00)
7). 'Lhey shall be dated the first day of July, 1920.
3hall bL-,eome due and payable forty years from their date, but
may be redeemed at the pleastire uf the City of --an'Lavilie at
aity tai after ton yeare froai their dat-e.
4, hey ehall be�ur interest at the mite of five per
,twit -,per anifwm, pa -able scmi-annuaiay on the first days of
january and July (;f each ;!ear,
15. li.hc princip il rind intercut ehull be payable on
pro sen't t-.t "Lon, Lind eurrender of bond or proper coupon at the
Huntsville ;state Baiac of hunt-Hville, ::erns, or at the 1,1ational
Brans of (;ou-uierce of T, -
.L J. _jevi yori,, at the option of the holden
6. Jaid bonds shall be signed by the mayor, counter
signed by the City Oecr(-tary and registered by the city
-2-
lereaas :area and the seal o the City uhalI. be ir_apressed u,;on
each of thew.
7. whe Pic siroi.le sIgrj-,Atu °es of the mayor anal City
oecretaryy way be lithographed on the coupong.
6. It is farther ordAined by the City Cohncil of the
City of l rantsvil le th€ct to pay nald bond i and create a sinking
fund to disotzaar, a them at r,aturity a tax of � 3e,nts ±)n ea ,h
one hundred dollars va.l.aaation on all. Vixazble pronerty in said
City of hunt4vil..ie shall 'no annna?ly :Levied on said property
uvA annually as 3ease:i ea, d collected until said bonds and in-
terest are ylaid and said tax of 4-, cae zts on the one hundred
dollars ost o" ri tax t f i� +rarity five ce ±its lovied. for the 1 -
pose of paying intere.9t €anri crea-i s a ,Lnking fwd to redeem
all outstandinj, bonds o:" the t,ity of including
this se rieu by this Counail in the 4th, days of i,7ay, 1920, is
hereby a;p- ororri.at id and use$ aside to pay the inzere t and
cro ate a slriitinq fund for ti?p clarrant yes -ir, and shall be
fssossod and oc�l'w;;ceE?4i uni: so uppl.iod; tine+ said tax ie hereby
levied foa, eaeh Year heroafter rYhi4Vqui6 bonds are oiatstani:ing
sand the s €gre shall be annually asseosed and coZ� Qated and
appl.:.o to the Puri ?o:sVS MMede
9.1t its also ordained that 1 IT adicke s, L;iayor, be
authors ed to take. and have charge of said bonds Pending their
a nveati.6ati on by the attorney Gwieral,and upon t; br approval
and re&i.stra:ti4on shall hare authority to negotiate their sale
and rooeive for the (Aty the pr. ooee4s thereof.
' eRe -ed. to the Pinur_ce GoUL ,ttee on t �ie the nth
dray Of klaY, 1920.
HOTT
Ede, the Pinanoe Committee, to 'whoa the above and fore-
going ordi €anoo has been referred do hereby recommend that said
ordi nonce be passad.
Sam kaKinney
Ii U Leigh
It' R iianoe,Finance Committee.