HomeMy WebLinkAboutORD 238 Authorizing Issuance of Storm Sewer Bonds
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ORDINANCE NO. 2J.8
AN ORDINANCE .AMENDING "AN ORDINANCE AUTHORIZING
THE ISSUANCE OF $184,000 STORM SEWER BONDS AND
-PROVIDING FOR THE PAYMENT OF PRINCIPAL AND IN-
TEREST THEREON 'BY THE LEVYING OF .AD VALOREM
TAXESft SO AS TO MAKE SAID BONDS REGISTERABLE AS
TO PRINCIPAL, APPOINTING A REGISTRAR AND PRES-
CRIBING THE MANNER AND MEANS OF REGISTRATION.
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BE IT ORDAINE~ by the City Commission of the City of
West University Place, Texas;
1. That an ordinance entitled ffAn ordinance authorizing
the issuance of $184,000 Storm Sewer Bonds and providing for the
payment of ~rincipal and interest thereon by the levying of ad
valorem ta.xestt, which was duly ad~ted by the City Commission of
the Oity of West ,University Place, Texas, on February 4, .1942, and
whioh is of record in the minutes of the meetiug of said Commission
on said date, be, and the same is hereby, amended as follows:
(at) 'By adding to said ordinance a,new piragraph .to be
known as paragraph number ftIVaft, 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 City Secretary,
who is hereby designated Registrar, at the office of said
Secretary at the City Hall in the Uity of West University Place,
Texas. Suoh ~egistration shall not only be noted on the books
of such Registrar kept for such purposes, but shall be noted by
the Registrar on the bond so registered, and after such registration
.no transfer of such bond shall be valid unless made on the books of
jhe Registrar by the registered holder or his lawful attorney, there-.
unto duly authorized, and similarly noted on the bond. Bonds regis-
tered as, to principal may be discharged from registration by being
transferred to bearer, after which they shall be transferable b~
delivery but may be again registered as to prinoipal as before.~onds
not so regi~tered or whi~h 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 coupons 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 be printed on the reverse side ,of
each of said bonds the fallowing registration endorsement:
(NO WRITING TO BE NlADE HEREON EXCEPr BY THE
REGISTRAR OF THE CITY OF WEST UNIVERSITY
PLACE, TEXAS)
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CERTIFICATE OF REGISTRATION
. It is hereby certified that, at the request of the holder to
of the within bond, I have this day r~gistered 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 purpos e. The .
principal of this bond shall be payable only to the registered holder ii'
hereof named in the below registration blank or his legal repr~sentat~~e,
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 recorded on the books of the Registrar and in the below re-
gistration blank shall be to bearer, the principal of this bond shall
he payable to bearer and it shall be inaall respects negotiable. In
no case shall negotiability of the coupons attached hereto be
affected by any registration as to principal.
DATE OF REGIS-
NAME OF REGISTERED HOLDER TRATION c
SIGNATURE OF
REGI STRAR
o? JI:;lwept as herein amended by the addition of the
foregoing provisions, said ordinance heretofore adotped shall re-
main in fuJI.farce and effect.
PASSED,
Bebruary,1942.
APPROVED AND AUTHENTICAEED this the 9th day of
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- ayor, ity o. est University
Place, Texas.
ATTEST:t.
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