HomeMy WebLinkAboutOrd 136 - sewer system revenue bonds 1938
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ORDINANCE NO. ilf:...
ACCEPTING THE PROPOSAL OF W. F. WARFIELD & CO.,
TO PURCHASE THE CITY OF WEST UNIVERSITY PLACE
SEWER SYSTBI REVENUE BONDS, SERIES 1938, AGBRE-
GATING$100,mOO.oo AT PAR AND ACCRUED INTEREST
TO DATE OF DELIVERY; AUTHORIZING THE MAYO R OF
SAID CITY TO ENTER INTO A CONTRACT WITH SAID COM-
P ANY WITH REFERENCE THERETO AND TO DELIVER THE
BONDS, OR ANY P'ART THEREOF, ON COMPLIANCE WITH
SUCH CONTRACT; PROVIDING THAT SAID ,ORDINANCE
SHALL TAKE EFFECT AND BE IN FORCE I~i1EDIA TELY
AND THAT ALL ORDINANCES, OR PARTS OF ORDINANCES,
IN CONFLICT HEREWITH ARE REPEALED.
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BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF WEST
UNIVERSITY PLACE, TEXAS:
Section 1_
The City of We'st University Place has heretofore invited ','
proposals for the purchase of City of West University Place sewer
system revenue bonds, Series 1938, aggregating $100,000.00; and,
the proposal of W. F. Warfield & Company, of Houston, Texas, to
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purchase said bonds at par and accrued interest to date of de-
lJ
.
livery is the highest and best bid received; and, it is deemed to
the best interest of the City that said proposal be accepted ~nd
that said bonds be sold to the said W. F. Warfield & Company, at
par and accrued interest to date of delivery. Accordingly, Har-
vey T. Fleming, Mayor of the City of West University Place, is
authorized to enter into a contract with said Company, with refer-,
ence to the purchase of such bonds, is authorized to execute
such contract on behalf of the City and is further authorized to
deliver said bonds to said company at the time or times provided
in the contract upon compliance by such Company with the terms,
provisions and stipulations of the contract go entered into.
Such contract may prOVide that all the bonds be deliver~d to said
o
201
[J Company or that they may be de~lvered in lnsta~lments or in any
manner wi~hin the discretion of the Mayor and as provided by such
contract.
Section 2.
All ordinances and parts of ordinances in conflict here-
with are hereby repealed in so far as concerns such conflict.
Section 3.
This ordinance shall take effect and be in force immed-
iately from and after the date of its passage and approval.
Passed and approved this the 18th da of march A. D.,
1938.
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ATTEST:
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