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HomeMy WebLinkAboutOrdinance 571 s Z ORDINANCE NO.S ! f AN ORDINANCE DECLARING ALL MMINQ.UENT TAXES, AND, ALL COST AND PENALTY THLR_,0N, LEVIED ON ACCOUNT OF AND FOR THE BENEFIT OF THE GENERAL FUND FOR THE CITY OF FORT WORTH FOR THE YEAR 1914 AND ALL YEARS PRIOR THERETO, A SURPLUS FUIrD, AND DESIGNATING AND FIXING THE PURPOSE FOR WHICH SAID FUND IS CREATED AND THE APPLICATION TO BE IMBE THEREOF. BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF FCRT WORTH: Section 1. All delinquent tuxes due the City of Fort Worth and levied on account of and for the benefit of the general fund for said City for the year 1914 and all prior years thereto, be and the same is hereby declared to be a surplus fund,. which as the same are collected shall be by the Treasurer of the City of Fort Worth kept in a separate fund in the wanner and for the purpose herein- after designated. Section 2. All costs and penalties now accrued and to accrue on delinquent taxes for the year 3914 and all years prior thereto, be and the same is hereby declared to be a surplus find, and when collect- ed shall be by the Collector of the City of Fort Worth deposited in the fund herein provided for and shall be expended only for the pur- pose herein stated. Section 3. From the proceeds of delinquent taxes costs and penalties provided in sections one and two hereof, there is hereby created a fund declared to be a surplus, and when such funds are col- lected and turned over to the Treauuer for the City of Fort Worth. the same shall be kept separate from all other funds, and shall be designstat as the- "First National Bank Fund.." Section 4. The money and funds hereby created and set aside shall be appropriated exclusively to the following purpose to wit: Whereas, in order to meet the necessary etrent expenses of the City of Fort Worth and also to make urgent and imperative improvements on the public streets of the City of Fort Worth, it became and was necessary to secure an advance of money from th e ,First National Bank of the City of Fort Worth for immediate use; and whereas .such advances to said City were made upon the Atxxvtat express agreement and understanding that such smm no advanced should be secured by such taxes as might be 2- r now due and available for such purposes; it is therefore expressly ordered that the fund hereby created by the Board of Commissioners appropriated and used for the payment and liquidation of the money so advanced by the said Bank for the purposes and for the reasons herein- before stated, which said advances now amount to the sum of �� L and the City Auditor is hereby directed to draw warrants on said funds from time to time, and the City Treasurer is directed to pay such warrants only and for the sole purpose of liquidating the debt herein- before described. Section 5. It is understood and agreed that it shall be the duty of the City Auditor and the City Treasurer to make partial payments of moneys received and coming into said fund to said Bank at intervals S of not less than thirty days, and the said Bank agrees to accept such partial payments and give provided, however, this g proper credit therefor*ordinanee is intended to provide security for said indebtedness, and does not con*rol the matimity This ordinance shall be in force and effect from and after its passage. Approved as to Form; Corporation Counsel. I hereby certify that the above and foregoing Ordinance was duly presented and unanimously passed �and ' adopted by the Roard of Comrliss- ioners of the city of tort Worth at sa eision of said Board held Satur- day April 14th, A.D. 1917 n •eit4yscretlaryl.