HomeMy WebLinkAboutOrdinance 825 r
ORDINANCE NO.
An ordinance providing for the purchase of three
garbage incinerators by the City of Ft. Worth and the is-
suance of seven promissory notes in payment therefor ag-
gregating $62,500.00, all payable to the order of the
Superior Garbage Incinerator Company, of Texas; to bear
interest at the rate of six percent. (6%) per annum pay-
able semi-annually, and providing for the levy of a tax
to provide funds for the payment of said notes.
WHERF,AS, in pursuance and by authority of a
resolution adopted by the Board o Commissioners of the
City of Ft. Worth, on this the� st day of April, 1922,
the City of Ft. Worth is about to enter into a contract
with the Superior Garbage Incinerator Company of Texas
for the erection and construction of three garbage in-
cinerators, one, of twenty tons capacity, to be construct-
ed on Cooper Street; one, of twenty tons capacity, to be
constructed on Sixth Street, and one, of forty tons cap-
acity, to be constructed in Southeast Fort Worth on a
site to be designated by the City, the City to pay
Fifteen Thousand t$15,000.00) Dollars for each of said
20.ton incinerators, and Thirty Two Thousand Five Hundred
(432,500.00) Dollars for said 40-ton incinerator, the
City's obligations to pay for said incinerators to be
evidenced by notes as hereinafter described, and
WHEREAS, it is necessary to provide for the
payment of the purchase price of said incinerators to
said Superior Garbage Incinerator Company of Texas, and
WHEREAS, it is necessary, in order to provide
for the payment of said purchase price, to levy a speo-
ial tax for the years 1922, 1923, 1924, 1925,^1926 ft&-
'� t, and
-1-
WHEREAS, it is estimated that the assessed val-
uation of the property in the City of Ft. Worth will be,
for said gears, the sum of 129,876,11"00, and
WHEREAS, it will require a special levy of
__ cents on the property in the City of Ft. Worth,
real, personal and mixed and on all property owned in the
City of Ft. Worth subject to taxation and not exempt there-
from by the constitution and laws of the State of Texas in
order to pay and provide for the payment of said purchase
price,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF
COMMISSIONERS OF THE CITY OF FORT WORTH;
SECTION 1. That the Mayor and City Secretary
be and they are hereby authorized and directed to execute
and deliver to the Superior Garbage Incinerator Company
of Texas promissory notes as follows:
(sr) Upon the oompletion and acoeptanoe of
said incinerator on Cooper Street, one note for
Twelve Thousand Five Hundred ($12,500.00) Dollars,
payable July 1, 1923, and one for Two Thousand Five
Hundred ($2,500.00) Dollars, payable July 1, 1927.
(b) Upon the completion and acceptance of
said incinerator on Sixth Street, one note for
Twelve Thousand Five Hundred (012,500.00) Dollars,
payable July 1, 1924, and one for Two Thousand Five
Hundred ($2,500.00) Dollars, payable July 1, 1927, and
(c) Upon completion and acceptance of said in-
cinerator of forty tons capacity, two notes for
Twelve Thousand Five Hundred ($12,500.00) Dollars
each, payable respectively, July 1, 1925 and July
1, 1926, and one for Seventy Five Hundred ($7,500.00)
Dollars, payable duly 1, 1927,
each of said notes to be dated on the day of acceptance of the
incinerator for and in consideration of v&ich it is executed;
and all of said notes to bear interest from the date thereof
-2-
- -c
at the rate of six percent. (6%) per annum, payable semi-
annually on the lot day of, January and July of each year.
SECTION 2. That for the payment of said prom-
issory notes in the aggregate sum of Sixty Two Thousand.
Five Hundred ($62,500.00) Dollars and interest thereon, as
set out in Section 1 of this ordinance, there is hereby
levied and shall be collected as provided by lawn, an an-
nual special ad valorem tax for the years 1922, 1923, 1924,
1925, a d--aM7, of /• G cents on every one hundred
dollars valuation on all property, real personal and mixed
situated in the City of Fort Worth and on all personal
property owned in the City of Fort
Worth on the lot day
of January, 1922, 1923, 1924, 1925 926 subject
to taxation and not exempt therefrom by the constitution
and lawns of the State of Texas.
SECTION 3. That it shall be the duty of the
Board of Commissioners of the City of Fort Worth, in levy-
ing taxes for general purposes for the years 1922, 1923,
�R
1924, 1925,/A1926 .--9Tn, to include in such levy for
general purposes a special tax of 1-4— cents on the
one hundred dollars valuation, or so much thereof as may
be necessary to meet the maturity of said notes.
SECTION 4. That the special tax of /, '� cents
on the one hundred dollars valuation herein provided for,
when collected, shall be placed in a special and separate
fund and applied to the payment of aforesaid notes and for
no other purpose.
SECTION 5. That this ordinance shall take effect
and be in full force and effect from and after its passage.
ORDINANCE
No.
Date
Filed day of
f,
192
City Secretary