HomeMy WebLinkAboutOrdinance 647 ORDINANCE NO..L 1"17
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AN ORDINANCE levying a tax, which said tax shall be
Included in the general ad valorem tax for 1919 hereafter
to be made, and directing and instructing the Board of
Commissioners to include satte in the tax levy for the
year 16�19, for the purpoeo, of paying a not-e, 1"n the OuS, alf
075,000.00, and interest thereon at 5-1/2 per cent,
payable to Eyer & Company of Now York,
Pty, on October
fto 19th, 1919.
WMMEAS, under Bootiou 14, Chapter 8 of the Special
Charter of Fort Worth passed by the Thirty-first Legislature of
the State of Texas, approved March 10th, 1909, and WhioU said
special charter is still in force and offset, and under wh,4,oh the
board of Commissioner* of the City of Fort Worth are given full
power and authority ever the financial affairs of the city, and
to provide for the collection of all revenues and other income,
the auditing and settling of all accounts, 'and in the exercise
of 4 sound dlaorotion)to make appropriation for the payment of
411 liabilities and ex:Aeasos of said City, and
WHEREAS, there is now ,outstanding a legal and binding
obligation of the City of Fort Worth In the shape of an unpaid
balance of Seventy-Five Thousand 475,000.00) Dollar* on a note
heretofore executed by the City of Fort Worth on the 19th day
of October, 1918, in the sum of One Hundred Fifty Thousand
($150,000.00) Dollars in favor of Eyor & Company of New York City,
Now York, and
WHEREAS, It to necessary to mak,* provision for the
payment, of the balande of said note, and that the same be extended
b the In S'M' r, O's,"'V"00-00 to ,ruz
�2A'
'of 9p of 4 new note the
eight months from Febziary, t
October 19, 1919, and
WHEREAS, the Board of Equalization of the City of Fort
Worth meets on the l5th day of June fer the purpoee of equalizi;kg
the taxation in the city of FcT* Worth and conclude* its labors,
on August the 15th, and
WHEREAS, the 1919 taxes are payable on and after
September let, 1919, and
WHEREAS, under the terms of the Charter of the City of
Fort Worth the Board of Commissioners of the City of Fort Worth
makes the tax levy for the current year Immediately after the
Board of Equalization Use completed its labors in equalizing
the taxatIca in the City of Fort Worth, as aforesaid, and
WHEREAS, it is necessary under the laws of Texas sad
its Constitution to provide for the payment of a. debt at the time
of Its creation;
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONER$
OF THE CITY OF FORT WORTH:
Section 1: That there is hereby set aside 9-1/2 cents
an *sob #100 valuation of the tax levy of the year 1919 for the
PUTP100j,�6 of takizg'up" pajing off and discharging a note fox $75,000.00
payer 10 to that Order of yer & Company of New York
iog"Otber VI/lb acoum''lat'aA 4"ater"t thereon at the rats,
Of 5-1/2 Per COUt for eight months, said note boing dated Februaxy
the 19th, 1919, and to become due and payable at the City National
Bank of New York City on October the 19th, A. D. 1919.
Section Z: That the amount wbwo� set aside for the
purpose herein stated, shall constift# a special wiak-img fund for
the payment of said note and accumulated intoreat thereon, and
shall be appropriated for no other purpose.
Section 3, That the Board of Oowaission#rs, of the City of
Fort Worth *hall at the time, the annual tax lov/y for the City of
F/qrt, Wart,* Is mada, for the year 1919, to,, govexuad by the terms of
this Ordinance, and shall sot aside said funds for the purpose of
taking %w� paying Off:AZ4 and
described.
4- This Ordinance shall take effect and be In force
from_sZ4 after""i,is passage. I hereby certify that the above and
foregoing Ordinance was duly presented
and unanimously passed and adopted by
the Board of Commissioners of the City
of Fort Worth, Texas, at a regular
Appr, Session of said Board held Tuesday,
February Ilth,A.D.1919.
Grp do James Liston Jr.
air City Secretary.