HomeMy WebLinkAboutORD 798 - Amending ORD Authorizing the Issuamce of Refund bond Series 1962
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ORDINANCE NO. 798
AN ORDINANCE AMENDING AN ORDINANCE AUTHORIZING
TEE ISSUANCE OF $135,000 REFUNDING BONDS,SERIES
1962; PRESCRIBING TEE TERMS AND PROVISIONS TEEREOF;
. LEVYING TAXES TO PAY TEE ,PRINCIPAL TEEREOF AND
INTEREST THEREON; PROVIDING FOR TEE EXCHANGE OF
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SAID BONDS FOR TEE BONDS BEING REFUNDED THEREBY;
AND CONTAINING <YrHER PROVISIONS RELATING TO TEE
SUBJECT
WEEREAS, on January 8, 1962, the City Commission of the City of West
Univer~ity Place, Texas, authorized the issuance of $135,000 City of
West University Place Refunding Bonds, Series 1962, dated January 15,
1962; and
WHEREAS, said Ordinance should'be amended whereby the first interest
coupon payment date on the bonds authorized in such Ordinance will be
January 15, 1963, instead of July 15, 1962, and whereby no moneys will
be appropriated to pay the interest which would have become due and been
payable on said bonds on July 15, 1962, and whereby the City Attorney IS
approval of said bonds as to form and correctness may be evidenced by his
facsimile signature; therefore
BE IT ORDAINED BY TEE CITY OF WEST UNIVERSITY PLACE, TEXAS:
That the Ordinance adopted January 8, 1962, by the City Commission of the
City of West University Place, Texas, authorizing the issuance of $135,000
City of West University Place Refunding Bonds, Series 1962, dated January
15, 1962, maturing in each of the years 1963 to 1968, should be and it is
hereby amended, so that:
The first sentence of Section 3 of said Ordinance, same being on the fourth
page of such Ordinance, shall hereafter read and be as follows:
"That said bonds shall bear interest at the rate
of 3% per annum, interest payable January 15,
1963, and semiannually thereafter on July 15th
and January 15th of each year until the princi-
pal sum is paidll; and
Section 4 of said Ordinance, same being on the fourth and fifth pages of
such Ordinance, shall hereafter read and be as follows:
II Section 4 .
EXECUTION OF BONDS AND INTEREST COUPONS: That each of said bonds shall be
signed by the Mayor and countersigned by the City Secretary, by their fac-
simile signatures, and the official seal of said City shall be impressed
upon each of said bonds. The interest coupons attached to said bonds
shall also be executed by the facsimile signatures of said Mayor and City
Secretary. The City Attorney shall approve such bonds as to form and
correctness, and evidence of such approval shall be evidenced on each
such bond by the facsimile signature of said City Attorney. Said facsimile
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signatures, as above provided, may be engraved, lithographed, or
printed, and shall have the same effect as if said bonds and interest
coupons had been signed in person and manually by each of such of-
ficers. Each of said Qonds shall be registered in the Office of the
Comptroller of Public Accounts of the"State of Texas, as provided
by law, and,the Comptroller's registration certificate, which is to
be printed on the back of each of said bonds; as provided hereafter
in Section 7 of this ordinance, shall be manually subscribed. "; and
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The first sentence of the first paragraph following the heading of
Section 5 of said Ordinance, said sentence being on the fifth and
sixth pages of said Ordinance, shall hereafter read and be as follows:
"The City of West University Place, in the County
of Harris, state of Texas, for value received,
hereby acknowledges itself indebted to and pro-
mises to pay to bearer on the 15th day of January,
19____, the sum of
ONE THOUSAND'DOLIARS
($1,000), with interest thereon from the date here-
of at the rate of 3% per arinum, interest payable
January 15, 1963, and semiannually thereafter on
July 15th and January 15th of each year until the
principal sum hereof shall have been paid "; and
That the last clause of the first paragraph of Section 9 of said Ordinance,
said clause being on the eleventh page of said Ordinance and reading:
"that to pay the first installment of interest
falling due on said refunding bonds on July
15th, 1962, there is hereby set aside and ap-
propriated out of current, surplus funds on
hand and available for such purpose the sum
of $2,025.00 ",
shall be deleted from said Section 9 and shall no longer be a part
thereof or of said Ordinance; and
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That, except as hereinabove amended, said Ordinance shall remain and be
in full force and effect; and
That this Ordinance shall take effect from and after its passage.
Passed and approved this 22nd day of January, 1962.
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Stuart L. Lamkin, Mayor
City of West University Place,
Texas
ATI'EST:
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/1sS t; City Secr ary
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