HomeMy WebLinkAboutORD 719 - ORD Authorizing & Requiring the Cancellation of $18,000 City Hall Bonds
10.
ORDINANCE NO. 719
AN ORDINANCE AUTHORIZING AND REQUIRING TEE CANCELI.J\!IlImN OF
$18,000.00 OF CITY HALL BONDS BEING THE UNUSED PORTION AND
AMOUNl' NOT SOLD OF TEE $295,000.00 CITY HALL BOIiJD ISSUE: AUTHOR-
IZED AT AN ELECTlml DULY HELD ON DECEMBER i2, 1953; Dm'ERMINING'
THAT ALL OBLIGATIONS RELATIVE TO THE CONSTRUCTION AND FURNISHING
OF SAID CITY HALL HAVE BEEN PAID AND .SATISFIED AND THlmE REMAINS
UNSOLD BONDS IN TEE AMOUNT OF $l8,00o.00; DIRECTING TEE CITY MAN,-
AGER TO NOTIFY THE BOND DEPARTMENT OF THE OFFJ;~ OF THE ATTORNEY
GENERAL OF TEE STATE OF TEXAS THAT SAID BONDS HAVE mEN CfUllCELLED.,
WHEREAS, a bond election was held in the City of West university Place, Texas
on the 12th day of December, 1953 and in such election the issuance of
$295,000.00 of City Hall bonds was authorized for the construction and fur-"
nishing of a modern City Hall; and .
WIlEREAS, by appropriate action of the City Commission of said City bonds in the
amount of $277,000.00 were issued and sold in constructing and furnishing said
City Hall, thereby leaVing unissued and not sold bonds in the amount of
$18,000.00; and '
WBEREAS, it has been determined that all obligations incurred by the City of
West University Place, Texas as a result of thf; construction and furnishing of
said City Hall have been paid and satisfied and that it "tall be to the financial
interest of said City that the unissued bonds be cancelled:
NOW, THEREFORE, BE IT ORDAINED BY TEE CITY COMMISSION OF TEE CITY OF WEST UNIVER - '
SITY PLACE, TEXAS:
1. That all City Hall bonds as authorized at that certain bond election held on
December 12, 1953 which have not been heretofore issued and sold are hereby
cancellea~, revoked and henceforth shall be of no force and effect. This cancel-
lation of such unissued bonds shall not in any ivay affect the, validity and nego-
t~ability of any of the ,authorized City Hall bonds vThich were issued and sold.
2. The City Secretary is hereby authorized and directed to notify the Bond Depart-
ment of the Office of the Attorney General of the State of Texas that such bonds
have been cancelled and shall not henceforth ~e in force and effect.
, PASSED AND APPROVED this 29th day of October, 1956.
COMMISSIONERS VOTING AYE
COMMISSIONERS VOTING NO
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D
o
ATTEST:
MAYOR" City of West University 'D
Place, Texas
City Secretary