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ORD CC 12/07/1937 - $20,000 bond for park, playground & swimming poolP AN ORDINANCE BY THE CITY COUNCIL OF THE; CITY OF HUNTSVILLE, TEXAS, AUTHORIZIING THE ISSUANCE OF BONDS FOR THE PRINCIPAL SUM OF $20,000.00 FOR TIE PURPOSE OF ACQUIRING , PURCHASING AND IMPROVING LANDS TO BE USED FOR A PUBLIC PARK PLAY GROUND AND SWIMIUNG POOL IN AND FOR SAID CITY OF HUNTSVILLc, AND PROVIDING TILiT SAID B(LDS S_fi-�,LL B,]AR INTEREST AT THE RATE OF FOUR AND ONE-HALF PER CENT (4-1/2,A) PER ANNUM, PAYABLE SEYII-ANNUALLY, AND PROVID114'. G FOR REDEMPTION PRIVILEGE'S, AND LEVYING A TAX OF TEN CENTS (101) ON THL 4100.00 VALUATION OF ALL TAXABLE PROPERTY ",ITHIN THE LIMITS OF SAID CITY TO PAY THE INTEREST AND CREATE A SINKINIG FUND FOR THE R_":_`D_E�ifPTIO1,T. THEREOF, AND PRESCRIBING A FORM OF BOND, AND DECLARING AN EMERGENCY. WHEREAS, at an election held in the City of Huntsville, Texas, on the 17th day of April, i. D. 1937, a majority of the qualified voters, who are property tax payers of the City of Huntsville, voting at said election, sustained the proposition to issue the bonds hereinafter described for the principal sum of 8201000.003 by a vote of one hundred seventeen (117) affirmative votes, and which carried by a majority of ninety-one (91) in favor thereof, being "FOR THE ISSUANCE OF BONDS Al"11) THE LEVY OF THL TAX:" THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HUNITSVILLE: SECTION 1-That the bonds of the City of Huntsville, Texas, to be called "City of Huntsville Park, Playground and Swimming "cool Bonds," to be issued under and by virtue of the provisions of Chapter 148 of the General Laws passed by the 42nd Le6rislature at its regular session in 1931, and as thereafter amended --and re-enacted by Chapter 15 of the General Laws passed by the 44th Legislature at its regular session in 1935, and in accordance with Titl,3s 22 and 281 of the Revised Civil Statutes of the State of Texas, of 1925, and as amended, and in accordance with the Constitution and Laws of the State of Texas, for the purpose of acquiring, purchasing and improving lands to be used for a public park, play ground and swimming pool in and for the City of Huntsville, Texas, and to pay tine cost of such purchases and improvements, in the principal sum of 420,000.00 SECTION 2-That said bonds shall be numbered consecutively from one (1) to twenty (20), inclusive, and shall be of the denomination of 41,000.00 each, aggregating the sum of $20,000.00. SECTION 3-That they shall be dated the 15th day of December, 1937, and Sall become due and payable serially as follows: I x s $1,000.00 on the 15th day of December, 1939, and 01,000.00 on the 15th day of December of each of th.e years thereafter, up to and including the 15th day of December, 1958. SECTION 4 -That said bonds shall bear interest at the rate of four and one -half peg cent (4. -1 /2 %) per annum, interest payable semi - annually on the 15th day of June, 1938, and the 15th day of December, 1938, and semi - annually thereafter on the 15th day of June and 15th day of December of each year. SECTION 5 -That the principal and interest of said series of bonds shall be payable on presentation and surrender of bond or proper coupon at The Huntsville National Bank, Huntsville, Texas, or at the First National Bank, Huntsville, Texas, at the option of the holder. SECTION 6 -That each of said bonds shall be signed by the Mayor, countersigned by the City Secretary, and registered by the City Treasurer, and the corporate seal of the City of Huntsville impressed upon each of them. S,R.CTION 7 -That the facsimile signatures of the Mayor and the City Secretary May be lithographed upon the coupons attached to said bonds, and shall have the same effect as if they had been signed by them. as follows: SECTION 8 -The form of said bonds shall be substantially =TED STATES OF AlERICA STATE OF TEXAS COUNTY OF ? 1ALK R 41,000.00 CITY OF HTJ�TTSVILLE PINK, PLAYGROUND A.ND 1Z14I1v7MLI1vTG POOL BOND. r�130 , ALL 1vLEN BY TH✓SE PRESENTS:- That the City of Huntsville , • in the County of Walkers State of Texas, a municipal corporation duly incorporated under the laws of the State of Texas, for value received, hereby promises to pay to the bearer hereof on the 15th day of December, 19 , the sum of 41,OCC.00 in lawful money of the United States of America, with interest thereon from date hereof at the rate of four and ore -half per cent (4 -1 /2J) per annum, interest payable semi- annually i t on the 15th day of June, 1938, and the 15th dray of December, 1938, and semi - annually thereafter on the 15th day of Tune and 15th day of December of each year, principal and interest payable upon presentation and surrender of bond or proper coupon at The Huntsville National Bank, Huntsville, Texas, or at the First National Bane at Huntsville, Texas, at the option of the holder, and the City of Huntsville is hereby held and firmly bound, and its faith and credit, and all real and personal property in said City, are hereby pledged for the prompt payment of the principal of this bond, and the interest thereon at maturity. This bond is one of a series of twenty (20) bonds, numbered from one (1) to twenty (20), inclusive, of the denomination of $1,000.00 each, aggregating, $20,000.00, issued for the purpose of acquiring, purchasing and improving lands to be used for a public park, playground and swimming pool, in and for the City of Huntsville, Texas, under and by virtue of provisions of Chapter 148 of the General Laws passed by the 42nd Legislature at its regular session in 1931, and as thereafter amended and re- enacted by Chapter 15 of the General Laws passed by the 44th Legislature at its regular session in 1935, and in accordance with Titles 22 and 28 of the Revised Civil Statutes of Texas, of 1925, and as amended, in accordance with the Constitution and Laws of the State of Texas, and in pursuance of an ordinance passed by the City Council of the City of Huntsville, Texas, on the 3 0' k day of �YI , 1937, which ordinance is of record in the Minutes of said City Council. It is hereby certified and, recited that the issuance of this bond and the series of which it is a part, is duly authorized by law and by a vote of the qualified property tax paying voters of the City of Huntsville, Texas, voting at an election held for that purpose within said City on the 17th day of April, 1937; that all acts, conditions and things required to be done precedent to and in the issuance of this series of bonds, and of this bond, have been properly done and performed and have happened in regular and due time, form and manner, as required by law; that sufficient and . proper provisions for the levy and collection of taxes has been made which, when collected, shall be appropriated exclusively to the payment of this bond, and of the series of which it is a part, and to the payment of the interest coupons hereto annexed, as the same shall become due; that the total indebtedness of said City of Huntsville, including the entire series of bonds, of which this is one, does not exceed any constitutional or statutory limitation. IN 4ITNESS tiVIMEOF, the City of Huntsville, by its City Council, has caused its corporate seal to be affixed hereto, and this bond to be signed by its Mayor, countersigned by its Secretary, and registered by its City Treasurer, and the interest coupons hereto annexed to be executed by the lithographed signatures of the Mayor and City Secretary. The date of this bona in conformity with the ordinance above referred to, being the 15th day of December, 1937. COUNTERSIGNED: City Secretary -- — REGISTERED: City Treasurer. follows: Mayor, City of HUntsvil—e,—Tex s. SECTION 9 -The form of coupon shall be substantially as On the 15th day of The City of Huntsville, Texas, promises to pay to the bearer at The Huntsville National Bank at Huntsville, Texas, or at the First National Bank at Huntsville, Texas, at the option of the holder, the sum of 14 )DOLLARS, in lawful money of the United States of America, being six month's interest on the City of Huntsville Park, Playground and Swimming Pool Bond No. , dated December 15, 1937. Mayor_�_...____. _,.._�.,.• City Sacretary� -"" -�"� P SECTION 10 -The following certif ica -�a shall be printed on the back of each bonds THE STATE OF TEI,i S : : OFFICE, OF C WOMOLL R:: I hereby certify that there is on file and of record in MY office, a ccrtif ic:�ta of the jIttornay G neral of the utate of Texas, to the effect that this bond has been exarzined by him -s required by law, and that re finds th=at it has been issued in conformity with the Constitution and Latins of tr Otate of ':texas, and t`et it is a valid and binding obligation upon said City of Huntsville, Texas, and said bond has this day been registered by me. 1tITNySS 1AY 11AND i j4D S3ZIAL OF JFFICL at Austin, Texas$ this day of Comptroller of ublic Accounts -`o7. the State of Texas. SECTION 11 -It is further ordained by th City c -ou r cit of the City of Huntsville, '1'sxa;, that While said bonds, or any of them, are Outstanding and unpaid, there shall be annually levied, assessed and collected, in due time, form and manner, a tax upon all the taxable property in said City of Huntsville, sufficient to pay tie current interest thereon, and create a OinkinE x'und sufficient to pay each installment of the principal as the s zie becomes due, and V o pay the interest on said bonds for the first year, and to create a Sinking Fund with which to pay the principal, as the same becomes due, there is hereby levied a tax of ten ceiits (10V) on each y100-00 valuation of taxable property in said City for the year 1935, and the sage shall be assessed anal collected and applied to the Purposes na:.,ied; and while said bonds or any of them are, outstanding and unpaid, a tax .for each year at a rate from year to year as will be ample and sufficient to provide funds to pay the current interest on said bonds and to provide the necessary Sinking 'und, full allowance being made for delinquencies and co is of collection, shall be, --nd is hereby levied for Fach year, respectively, while said bonds, or any of them, are outstanding and unpaid., and said tax shall each year be assessed and collected and applied to the payment of the interest on, and principal of, said bonds. It is further ordained, and there is hereby appropriated, the sum of 4 450.00 out of the revenues of the City now on hand, which sum shall be and is hereby orderad to be set aside for the purpose of paying the interest on said bonds due on the 15th day of June, 1938. SECTION 12 -It is further ordained that IL,. Anderson, the Mayor of said City, shall be authorized to take and have charge of all necessary records )= ending investigation by the Attorney General, and shall take and have charge of the control of tide bonds herein authorized pending their approval by the Attorney General, and registration by the Comptroller of Public Accounts. SECTION 13 -The Pact that the City of Huntsville, Texas, is badly in need of a park, playground and swimming pool, and that it now has no such park, playground and swimming pool, and which said things are necessary for the best interests and general welfare of said Cit,,,, creates an emergency, and an imperative public necessity, that the rale requiring ordinances to be read on three s3parete days before final passage, be and tiie same is hereby suspended, and it is ordained that this ordinance shall take effect and be in force immediately upon its passage and approval. Passed and approved, this y of December, ,1637. APPROVED: � Y yor, iittyy o _Runtsville ,,Texas. ATTEST: ity Secretary.