HomeMy WebLinkAboutORD 237 Authorizing Issuance of Sanitary Sewer Bonds
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ORDINANCE NO.
237
AN ORDINANCE .AMENDING "AN ORDINANCE AUTHORIZING
THE ISSUANCE OF $275,000 SANITARY SEWER BONDS AND
PROVIDING ]'OH THE PAYIViENT OJ!' PRINCIPAL AND INTEREST
THEREON BY THE LlJ:VYING OJ!' AD VALOHEM TAXES" SO AS TO
MAKE SAID BONDS !ll!;GIS'l'ERAB.LE AS TO PRINUIPAL,
APPOINTING A REGISTRAR AND PRESCRIBING ~ ~NNER
AND l\P...EANS VB' RJ:!;G IS TRA 'l'1 ON .
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BE IT ORDAIN];D by the City Commlssion of the vity of
West University Place, Texas;
1. That an ordinance entitled t'An Ordinance authorizing
the issuance of 1275,000 Sanitary Sewer Borns and providing for
the payment of principal and interest thereon by the levying of
ad valorem taxes", which was duly adopted by the City Commission
of the City of West University Place, Texas, on February 4, 1942,
and which is of record in the minutes of the meeting of said
Commission on said date, be, and the same is hereby, amended as
follows:
(a) By adding to said ordinance a new paragraph to be
known as paragraph number "IVa", which shall read as follows:
That said bonds shall be registerable as to principal
at the option of the holder on the books of the uity 0ecretary,
who is hereby designated Hegistrar, at the office of said
Secretary at the City Hall in the City of West University Place,
Texas. ~uch registration shall not only be noted on the books of
such Registrar kept tor 8u~h parpases, but shall ,be noted by the
Registrar .bn~:thEL bondr;sor~negfus'befea\{:jana:-::tad:ter such registration
no transfer of such bond shall 'be valid unless made on the books of
the Registrar by the registered holder or his lawful attorney,
thereun~ duly authorized, and similarly noted on the bond. Bonds
register~d as to principal may be discharged from registration by
being transferr d to bearer, after which they shall be transferable
by delivery but may be again registered as ~o~principal as before.
Bonds not so registered or which have been so transferred to bearer
shall be in all respects negotiable. The registration of bonds
as to principal shall not restrain the negotiability of the cQupons
attached thereto by delivery.
(b) The form of bond set out in paragraph V shall be
amended by adding thereto a paragraph substantially conforming to
the provisions of the next preceding paragraph of this ordinance.
(c) There shall b.e'printed on the reverse side of
each of said bond$ the fol1'owing registrati.on endorsement:
(NO WRITING TO BE MADE HEREON EXCEPT. BY THE
REGISTRAR OF THE CITY OF WEST UNIVERSITY
PLACE, TEXAS) .
CERTIFICATE OF REGISTRATION.
It is hereby certified that, at the requ~st of the
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holder of the within bond, I have this day registered it as to
principal in the name of such holder, as indicated in the
registration blank below and on the books kept by me for such
purpose. The principal of this bond shall be payable only to
the registered holder hereof named in the below registration
blank or his legal representative, and this bond .shall be
transferable only on the books of the Registrar and by an
appropriate -notation in such registration blank. If the last
.transfer recordedo~ on the books of the Registrar and in the be-
low registration blank shall be to bearer, the principal of this
bond shall be' payaale to bearer and it shall be in all respects
negotiable. In no case shall negotiability of the coupons
attached hereto b~ affected by any registration as ~o principal.
NAME OF REGISTERED HOLDER
DATE OF REGIS-
TRATION
SIGNATURE OF
REGISTRAR
2. Except ss herein amended by the addition bf the
foregoing provisions, said ordinance heretofore adotped shall
remain im full force and effect.
PASSED, APPROVED and AUTHENTICATED this the 9th
day of Febeuary, 1942.
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MaYor~~
Place, T e x as.
ATTEST:
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C ty,Secretary
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