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NO. 27 -. e e ORDINANCE NO. 27 BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS. WHEREAS, heretofore, under date of May 4, , 1959, the City Council of the City of Schertz, Texas, did authorize the receipt of competetive bids by the Mayor of the City of Schertz, Texas for the sale to said City of 1500 feet of fire hose, One 1956 Ford Fire Engine with equipment and accessories, and one engine house and other items of equipment and accessories, as more fully set out in such order, and issuance of interest bearing time warrants of the City of Schertz, Texas, in payment for same as is more fully set out in such order; AND WHEREAS, thereafter as set out in Ordinance No. 18 of the City of Schertz, Texas, dated May 4, , 1959, the City Council of the City of Schertz, Texas did authorize the issuance of 24 interest bearing time warrants, numbered 1 through 24 inclusive, in the amount of $500.00 each, aggregating the sum of $12,000.00; AND WHEREAS, as set out in Ordinance No. 18 of the City of Ichertz, dated May4t, 1959, the City Council of the City of Schertz, Texas, did accept the bid of the Schertz Volunteer Fire Department for the purchase and sale of 1500 feet of fire hose, one 1956 Ford Fire Engine with equipment and accessories, and one engine house; and whereas no bids were received for any other items of equlpment as set out in the ordinances aforesaid and whereas said sums have not been paid and none of the interest bearing time warrants above referred to have been issued and should be cancelled, and the said Schertz Volunteer Fire Department has not been paid; -1- , .: ., e e WHEREAS, the City Council of the City of Schertz, Texas, has determined the advisability and necessity of issuing interest bearing time warrants against the Gene~al Fund of said City of Schertz, Texas, to evidence a part of the indebtedness to be incurred in the acquisition of the above named items; AND WHEREAS, this Council hereby affirmatively finds and adjudges that the financial condition of said City is such that it will permit the payment of said warrants in the installments or maturities as hereinafter set out without making any unjust burden of taxation to support the same; and AND WHEREAS, it is by this Council considered and determined to be to the best interest and advantage of said City of Schertz, to authorize the issuance of said Warrants, and it is now the desire of the Council to authorize the issuance of such warrants, and whereas all prerequisites requiredby law for the issuance of such warrants have been complied with, and it is now the desire of the Couneil to authorize the issuance of such warrants in accordance with the Constitution and Laws of the State of Texas; NOW THEREFORE, BE IT ORDAINED, ADJUDGED AND DECREED BY THE CITY COUNCIL OF SCHERTZ, TEXAS: I That the City of Schertz interest bearing time warrants, known as City of Schertz Warrants, Series of 1959 being numbered from 1 to 24 inclusive, in the denomination of $500.00 each, aggre- gating $12,000.00, bearing interest as evidended by proper coupons attached to each of said warrants, be together with all of such interest coupons cancelled, destroyed and held for naught and the Mayor of the City of Schertz is and shall be authorized to do all things necessary to cencel said warrants and coupons in the manner required by law. ~ -J-.. , e e II That there shall be issued and by virtue of the Constitution and laws of the State of Texas, and more particularly Chapter 163, Acts of the Forty-second Texas Legislature, Regular Session, 1931, interest bearing time warrants of said City of Schertz, to be known as City of Schertz Warrants, Series A of 1959, against the General Funds of said City, for the purpose of evidencing a part of the in- debtedness to be incurred acquiring the items of property above listed. III That said warrants shall be made payable to bearer and shall be numbered from 1 to 15, inclusive, shall be in the denomination of Five Hundred and No/IOO ($500.00) Dollars, each, aggregating Seven Thousand Five Hundred and No/IOO ($7,500.00) Dollars. IV That said warrants shall be dated f:7cIt. 1 , , , 1959, and shall become due and payable serially as follows: MA TURI TY DATES (}&t:1 J1ft,o (}Vt. " )"1 ~./ 1'1'1..- ~. ,', J~ '- :) ~ J 1'16V_ ~ ; 19LJ &19Jtr. I; } 7 b b V AMOUNTS I \) W o. 00 I 000. Oil IO~O.oO 1066.00 I 0 D~. ~ ~ / 0 0 O. (), I r-OO.O' WARRANT NUMBERS I t2 jt'l stJ, 7 +-f '1tlO ) I t 1'- ) ~ t ('1 't IS- Said warrants shall bear interest from date until paid at April the rate of Four (4%) per cent per annum, payable :lb~ 1, 1960,. April October and semi-annually thereafter on ~ 1, and~~ 1 in each year, which interest shall be evidenced by proper coupons attached to each of said warrants. VI That principal and interest of said warrants shall be payable upon presentation and surrender of warrants or proper coupon at the Office of the City Secretary, Schertz, Texas -3- e e VII That said warrants shall be signed by the MaY9r, and registered by the City Secretary, and the seal of the City of Schertz, Texas, be impressed upon each of said warrants. The interest coupons attach- ed to said warrants may be executed by the facsimile signatures of the Mayor;;.and City Treasurer and shall have the Sl.me effect as if they had been signed by said officers. VIII That said warrants shall be delivered to and accepted by claimants, or their assignees, in full settlement of the indebtedness due them by The City of Schertz, Texas, after such claims have been duly approved by the Mayor, and have been duly audited and allowed by the City Council of this City. IX That the form of said warrants shall be substantially as follows: No. $500.00 UNITED STATES OF AMERICA STATE OF TEXAS CITY OF SCHERTZ, TEXAS CITY OF SCHERTZ WARRANTS SERIES A OF 1959 THIS IS TO CERTIFY that the City of Schertz, in the State of Texas, under and by virtue of valid and subsisting claims, is justly indebted to bearer in the principal sum of FIVE HUNDRED DOLLARS ($500.00), in lawful money of the United States of America, to- gether with interest thereon from da~e hereof, at the rate of four April (4%) per cent per annum, payable ~ 1, 1960, and semi-annually April October thereafter on ~ 1, and ~ 1 in each year; both princi- pal and interest payable upon presentation and surrender of warrant or proper coupon, at the office of the Treasurer, Schertz, Texas; -4- e e and the Treasurer of said City is hereby authorized, ordered and directed to pay to bearer on the of , 19 the maturity date of this warrant, the sum of Five Hundred ($500.00) Dollars, in full settlement of the indebtedness hereby evidenced, out of and from the special "City of Schertz Warrants, Series A of 1959 Fund", of said City, levied, assessed and created for that purpose. This warrant is one of a series of 15 warrants, numbered con- secutively from 1 to 15, inclusive, in the denomination of Five Hun- dred ($500.00) Dollars each, aggregating $7,500.00 Dollars, issued for the purpose of evidencing a part of the indebtedness of the City of Schertz, Texas, acquiring of fire engines, fire hose, and an engine house under and by virtue of the Constitution and Laws of the State of Texas and in pursuance of an ordinance passed by the City Council of the City of Schertz, Texas, which is recorded in the Minutes of said Council. The date of this warrant, in conformity with said Ordinance is October It , 1959. AND IT IS HEREBY CERTIFIED AND RECITED that all acts, con- ditions and things required to be done precedent to and in the issuance of this warrant have been properly done, have happened and been performed in regular and due time, form and manner as re- CITY quired by law, a~d that the total indebtedness of said ~-~1, in- eluding this warrant, does not exceed any constitutional or statutory limitation. IN TESTIMONY WHEREOF, the City Council of Schertz, Texas, has caused the seal of said City to be hereto affixed, and this warrant to be signed b, the Mayor, countersigned by the City Secretary, and registered by the City Treasurer, and the interest coupons hereto attached to be executed by the facsimile signatures of the Mayor and City Secretary, as of the date last above written. Mayor, Schertz, Texas ~. . . e e COUNTERSIGNED: City Secretary, Schertz, Texas REGISTERED: City Treasurer, Schertz, Texas x The form of interest coupons shall be substantially as follows: $ No. ON THE DAY OF , 1959. The City of Schertz, in the State of Texas, will be justly indebted~ to bearer in the sum of ($ ) Dollars, and the Wreasurer of said City is here- by authorized, ordered and directed to pay to bearer out of and A from the special "City of Schertz Warrants, Series/of 1959 Fund", of said City, at the office of the City Treasurer, Schertz, Texas, said amount, the same being six months' interest on City of Schertz , 1 1959 Warrant, Series of 1959, dated October No. , to which this coupon is attached and ispart thereof. City Secretary Mayor XI That said warrants shall be executed and delivered as here- inabove pro~ided, in payment of claims approved by the Ma~or and duly audited and allowed by the City Council of said City and said Council in auditing and all~wing said claims shall designate the -6- , ~ e e numbers of warrants to be delivered to evidence each of said claims so that the proceedings of1his Council shall show to whom each of said warrants was delivered and the purpose for which same was de- livered. XII It is further ordered that in the event it shall not be ~ecess- ary to issue the full amount of warrants herein contemplated, then, A in such event, such amount of City of Schertz, Warrants, Series/of 1959, as shall not be supported and based upon claims duly approved by the Mayor and duly audited and allowed by the City Council of said City, shall be cancelled and destroyed, the numbers and amounts of warrants so cancelled and destroyed to be made a matter of record upon the Minutes of the CEy Council. XIII That a special fund, to be designated "City of Schertz Warrants, Series A 1959, Fund", shall be, and the same is hereby created and set aside out of the General Fund of Schertz, Texas, which fund, when collected, shall be used to pay the interest on said warrants and the principal thereof at maturity, and for no other purposes; That to create said fund to p~y the interest on said warrants, and to provide a sinking fund to pay the principal thereof at matur- ity, there shall be, and there is hereby levied for the year 1959 a tag of and at the rate of fifteen (15~) cents on each $100.00 valuable of taxable property in Schertz, Texas, out of the Ad Valorem and property taxes levied by said City; and said tax of and at the rate of fifteen (15~) cents, or so much thereof, or so much more, if any, as shall be necessary, is hereby levied out of the Ad Valorem and property taxes levied by said City for each succeding year thereafter while said warrants or any of them are outstanding, on each $100.00 valuation of taxable property in said City of Schertz, Texas, and said tax shall be assessed and collected for each of said years, and applied to the purposes named, and to no other. ~- '. ~ e e PASSED AND APPROVED, this the 16th day of September, 1959. )~~ Mayor, City 0 c ertz ATTEST: -8- , .