HomeMy WebLinkAboutOrd 899 Authorizing Closing of the Street Improvement Bond Fund Series 1948
70
ORDINill~CE ~u~rnER 899
ill~ ORDINANCE AUTHORIZING THE CLOSL~G OF THE STREET
n'lPROVEMENT BOND FUND, SERIES 1948; AUTHORIZING TIm
TRlLWSFER OF THE FINAL B~TCE OF $19,995.72 TO THE
GENERAL FUND OF THE CITY; AND AUTHORIZING THE TRANS-
FER OF PAVING LIENS RECEIVABLE FROM THE SAID FUI\TD TO
THE GE}\J"ERAL FUND; PAVING LIENS RECEIVABLE OF $18,822.19
ON THE DATE OF AUGUST 5, 1968 BEING IDENTIFIED BY LEDGER
ACCOUNT J\i1J1villERS 14-120-1, 14-120-2, 14-120-3 AND 14-120-4
ANTI SPECIFICALLY COVERING ALv!OUNTS NOIy DUE AND OWING FROM
PAVING PROJECTS KNOW AS: 1954 UNIVERSITY BOULEVARD SKIP
PROJECT; 1959 PAVING PROJECT COVERING 6300 AND 6700 BLOCKS
OF RUTGERS, 6300 AND 6700 BLOCKS OF A1TJ) THE
6600 AND 6700 BLOCKS OF VMJDERBILT; 1962 STREET PAVING
PROJECT; AND THE 1966 STREET PAVING PROJECT; REPEALING
AI\~ SECTION OF ORDINANCE IN CO~~LICT AND DETEru~INING All
EFFECTIVE DATE.
there was created a fund known as the City of West Uni-
versity Place Street Improvement Bond Fund, Series 1948 for the purpose of
receiving the proceeds of a bond sale for street improvements and the dis-
bursement of monies for permanent street s; and
said fund and account has been used to receive and dis-
burse money in connection with various other street improvement projects;
and
WHEREAS, it has now been determined that the function and purpose
of the fund has been completed; and
there remains a cash balance of $19,995.72 accumulated
from repayment of paving liens, which are a proper asset of the General Fund,
including accumulated interest; and
there remains a balance in the total of $18,822.19 of
paving liens receivable from the various paving ects named herein as
of August 5, 1968.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF TIm CITY
OF 0JEST UNIVERSITY PLACE, TEXAS:
Series
First City
red to the
Section 1. That the fund known as the Street Bond Fund,
be, and is hereby, closed and that said funds on deposit in the
National Bank, Houston, Texas, amounting to ,995.72 be transfer-
General Fund of the City of West University Place, Texas.
Section 2. That the paving liens receivable, identified as Ledger
Accounts 14-120-1, 14-120-2, 14-120-3 and 14-12C-4, specifically covering un-
paid paving liens from projects known as 1954 University Boulevard
ect; 1959 Paving Projed; covering 6300 and 6700 blocks of , 6300
and 6700 blocks of vJestchester, and the 6600 and 6700 blocks of Vanderbilt;
1962 Street Paving ect; and the 1966 Street Paving ect, with a combined
balance of ,822. be transferred to the General Fund.
71
Section 3. That the City Treasurer be) and he is hereby) authorized
to notify the First City National Bank of Houston, Texas of the closing of
the street Improvement Bond Fund) Series 1948. ~
Section 4. Any section of any ordinance in direct conflict with
this ordinance is hereby expressly repealed.
Section 5. This ordinance sha11 become effective upon the date
passed and approved by the Ci Co~nission.
PASSED AND APPROVED this 12th day of August) 1968.
CorMnissioners Voting Aye:
All
CO~Jnissioners Voting No:
None
ATTE ST:
\
/\~,,,(,/( ,A::~>';i A>fi
Assistant City Secretary