ORD CC 08/20/1940 - 10.3ac. from Mrs. W.O.B. Gillaspie for street & avenue extensionsTHE STATE OF TEXAS
COUNTY OF ��iALKEP,
CITY OF HU ITSVILLE WHEREAS, Mrs. W 0 B Gillaspie, of Walker County,
Texas, has offered to convey to the City of Huntsville, Texas, for street
purposes and as an extension of 8th atreet a certain strip of land 50
feet in width from the East boundary line of Avenue J Last to the West
boundary line of Oakwood Cemetery Property, and to convey to the City
for street purposes and as an extension of Avenue I a certain strip of
land 50 feet in width at the East end of said 8th Street extension from
the South boundary thereof to the North boundary of that certain lot or
parcel of land heretofore sold to the City by the said sirs. 111�_ 0 B Gil-
laspie et vir by deed recorded in Volume 83, page 232, Walker County
Deed Records; and the said ors. W 0 B Gillaspie has also offered to
sell to the City of Huntsville, for the sum of Two Thousand ($2,000.00)
Dollars, all of the old Gillaspie Home Place in said City lying forth
of said 8th Street as so extended, containing 10.3 acres, more or less;
and,
ZIEREAS it is deemed advisable, necessary and for the best inter-
est of said pity of Huntsville, Texas, that said offer be accepted and
said street and avenue be dedicated and said property purchased:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL Or' THE CITY OF
HUNTSVILLE, TEXAS: That the City accept a conveyance of said street
and avenue extensions from the said Mrs. V,r 0 B Gillaspie; that said
City purchase said 10.3 acres of land from the said Mrs. Vji 0 B Gillas-
pie for the sum of 82,000.00, to be evidenced by, and the Mayor and
City Secretary are hereby authorized to execute and deliver, four cer-
tain Interest Bearing Time Warrants of the City of Huntsville, Texas,
numbered 1 to 4, inclusive, each of which said warrants shall be in
the principal sum of rive Hundred ($500.00) Dollars, shall be due and
payable to bearer at Huntsville, Walker County, Texas, end shall bear
interest from date at the rate of 4% per annum, the interest payable
annually, and if not so paid to become as principal and draw like in-
terest therewith from its said default, the first maturing of which
said warrants shall be due and payable on or before February 15, 1941,
the second maturing of which said warrants shall be due and payable
on or before February 15, 1942, the third maturing of which said war-
rants shall be due and payable on or before February 15, 1943, and the
fourth and last maturing of which said warrants shall be due and pay-
able on or before February 15, 1944., end all of said warrants to provide
that they, and each of them, are one of a series of four warrants said
day executed by the City of Huntsville in the purchase of the aforesaid
property, and that should the City of Huntsville fail to pay any in-
stallnent of principal or interest when due thereon, the holder of said
warrant, or warrants, may at his election declare the remaining unpaid
balance of principal of said warrants and the interest accrued thereon
to be immediately due and payable, and proceed to collect the same in
any manner provided by law, and each of said warrants further providing
for the usual 10% collection fees should default be made in the payment
thereof and the same are placed in the hands of an attorney for collec-
tion or collected by legal proceedings, and each and all of said war-
rants shall have impressed thereon the seal of the City of Huntsville,
Texas.
BE IT FURTHER ORDAINED, That a sufficient ad valorem tax shall
be annually levied on the taxable property in said City to pay the
interest on said warrants and to pay each of said warrants as and when
the same mature.
adjourned
The above and foregoing ordinance was in open council, at a regular /
meeting, more than two- thirds of all the members of said council being
present and acting, referred to the Committee
on t1ds o day of August, 1940.
We, the undersigned ,��v � Committee
of the City Council of the City of nuntsville, Texas, to whom the
above and foregoing ordinance has been referred, have carefully exam-
ined the sane, and report the same back to the City Council with the
recommendation that the sane be adopted.
COMUNSITTEE ON -
UNINIMOUSLY APPROVED AND ADOPTED IN OPEN CM CIL, This the 20
day of August, 1940.
&� 1:: � i - J_ &' 1, 1 J_'; - 1LY R, CITY OF HUNTS MLLE, TEXAS.
ATTEST:,
TY SECRE ARY