HomeMy WebLinkAboutOrdinance 801 L -J
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ORDINANCE NO. .i �
AN ORDINANOE PROVIDING A FUND SUFFICIENT TO FINANCE THE
BUILDING,OF A CONCRETE SWIMMING POOL TO BE LOCATED IN FOREST
PARK; THE ISSUANCE OF TEN PROMISSORY NOTES IN THE TOTAL SUM
$35,000.00, BEARING INTEREST AT THE RATE OF SIA PER CENT
PER ANNUM, PAYABLE ANNUALLY AND ALL OF SAID NOTES BEING PAYABLE
TO JAY F. WILLS ; THE FIRST ONE DUE AND PAYABLE m"C
YEAR$ FROM DATE AND ONE DUE AND PAYABLE EACH YEAR THEREAFTER
UNTIL THE WHOLE SUM HAS BEIM PAID.
WHEREAS, the City of Fort Worth and the Board of Park
Commissioners, in strict compliance with the requirments of its Charter
has heretofore advertised for bids for the erection of and construction
of a concrete swimming pool, to be located in Forest Park, in said
City, according to plains and specifications prepared by the City
Engineer, and
WHEREAS, after due and legal consideration of the said bids,
the bid of Jay Wills AmOompasy, of Fort Worth, Tarrant County Telas,
in the sum of $35,000.00 was accepted by the Board of Park Commissioners
of the City of Fort Worth, as the lowest and best bid, to be paid by
the execution of promissory notes by the City of Fort Worth and the
Board of Park Commissioners of the City of Fort Worth, payable to
Jay F. Wills may, the total sum bding$*5,000.00 in ten equal
notes, bearing 6% interest, payable annually, and the first note due
and payable tine yearit after date, and one due and payable each year
thereafter, and
WHEREAS, for the purpose of providing a sinking fund and sufficient
funds to pay interest thereon, and for the purpose of paying and
discharging said notes when due, it will be necessary to have set
apart from the ten cent advalorem tax, provided for general park
purposes, 9.7 mills per annum for the principal sum, and as much as
may be necessary per annum to provide the sinking fund and paying
the interest on said notes.
BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE
CITY OF FORT WORTH.
Section 1;-
President and Secretary of the Fort Worth Park Board
That the be and they are hereby
directed, to execute ten equal promissory notes, payable to the order.
of Jai+ F. Wills may, of Fort Worth, Tarrant County, Texas, in
the totla sum of #35,000.00, all of said notes bearing interest at
the rate of %6 per cent per annum, from date until paid, said notes
to be dated on the 237th xtay^ef I�eCe�bex�, `�dl,..:,nnai:�c�aod�xx#ue
ibwsckl"Xkspicx , and payable respectively as follows;
the first note payable erne, year from date, and one note each year
thereafter, until the whole sum is paid.
Section 2;-
That 9.7 mills per annum for the principal sum, and as much
as may be necessary per annum to provide the sinking fund and paying
the interest on said notes is hereby set apart from the ten cent
advalorem tax, provided for general Palk purposes.
Section 3;-
That this Ordinance shall take effect and be in full force and
effect, from and after its passage.
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