HomeMy WebLinkAbout1954-01-15 Special Meeting �
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' Special meeting af the City Council was held on Januarg 15, 1951�
!, ' with the fallowing members pre�ent: Mayor H. M. Ce►snahan; Aldermen
' Jae Box, Bill Guest, E. M, Pair, and R. F. Sheltan; Seeretary� �
! Hugh Millican; Attorney 2orn French. "
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Alderman Box introduced the following ardinance: :,p
'� AN QRI�I NAN CE I�
BY THE GITY COUNCIL 4F THE CITY OF GRAPE�TINE, TE��S, �
PROVIDING FOR THE ISSUANCE OF �150,000.00 CITY OF 5
G,RAPEVII�E, �'EXAS, SE`�VER IMPROVEI�IENT AND EXTENSION ,
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BOATDS, SERI�S I'951�, BEARING INTEREST AT �HE RATES ,E
HEREINAFTER SET FORTH, AND PROVIDING F(7R LEVY, ASSESS- f
A+�E�jT AND COLL�CTION OF A TAX SUFFIC3ENT TQ PAY THE �
INTEREST' OAi SAID BONDS AND 'TO CREATE A SIAiKING �1ND g
� FOR TKE RED�'MPTZON THEREOF AT MATURITY.� �
Matian �hat the ardinance be, gassed was made by Alderman Box and ��a
' second�d by Alderman Sheltan. Motion carried, 5-0.
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� The abave ordinance was nurnbered �,54-I. �
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. Alderman Bill Guest introduced the following ardinance: �
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AN ORDINANCE
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PROVZ�z�� Fox �xE �ss��A�cE oF �9o,aoo,oa aF
WATERWORKS AND SEWER SYSTEM REVENUE BONDS; PLEDGING
'THE REVENUES FROM THE �TATERi�ORKS SYSTEM AND SE�tTER
• SYSTE?�'� TO SECURE THE PAYMFNT OF TIiE BONDS HEREIN
AUTH�7RIZED; PROVIDI�IG FOR THE EXPENSE QF �PERATING
SAID SYSTEM� MAKING CERTAIN COVENANTS OF THE CITY ZN
REFERENCE TO THE BONDS �ND THE FUND FftpM WHICH SAID
PftINCIPAL AND INTEREST ARE TO BE P�ID; PRO�'IDI1�G THAT
THE HOLDER OR HOLDERS OF SAID BONDS SHALL NEVER HAVE
2HE RIGHT T{� DEMAND PAYMENT 4F SAID OBLIGATIQ�S QUT
�F FUNDS RAISED OR TO BE RAISEI� BY TAXATIt�N, AND RE-
PEALING ALL ORDINANCES IAT CONFLICT HERE�niI3"H." `
Alderman Guest moeed that the above ordinance be pass�d. Motion, �
after second bp Alderman Pair, �ras passed, 5�-C�.
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The second. ordinance was numbered ,;it�,2.
Meeting Adjourned.
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' Ci�y Secretary i
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