HomeMy WebLinkAboutOrdinance 604 I. ..Ar P
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ORD INANCE NO. .
AN ORDINANCE SETTING APART 7Wo CZ BdILLS PER
ANNUM OF THE TEN CENT TAX ALLOWED FOR PARK
PURPOSES TO CREATE A SINKING FUND AND PAY
INTEREST THEREON, TO PAY CERTAIN NOTES EXECUTED
BY THE CITY OF FORT WORTH AND THE PARK BOARD
FOR THE PURCHASE PRICE OF DOUGLAS PARK.
WHEREAS, in order to carry out the plans of the
Park Board of the City of Fort Worth in regard to what is
known as Douglas Park in said City, it will be necessary to
purchase the following described property from Tom Mason,
a resident citizen of Tarrant County, Texas, located in
the City of Fort Worth, Tarrant Ccunty, Texas, beginning at
an iron pin in the W. line of the M. Baugh Survey, 1101.2 feet
S. of the N. W. Cor. of said M. Baugh Survey, the same being
the N. W. Cor. of a tract of land deeded to Tom Mason by
Thomas Worthington on the 17th day of April, 1895, said deed
being on record in Vol. 222, Page 392, Deed Records of Tarrant
County, Texas; Thence E. at 97 feet the N. W. Cor. of a 5 acre
tract of land, deeded to Thomas Mason and others by N. Harding,
receiver, on the 28th day of May, 1894, said deed being on
record Vol. 111, Page 555, Deed Records of Tarrant Co. , Texas,
in all 934 feet ; Thence S. 15 Begs. 30' W. 208 feet a stake
is the S. line of said 5 acre tract ; Thence W. with said
ow S. line 878 feet a stake in the W. line of ,the M. Baugh
survey; Thence N. with said N. line 200 feet to the place of
beginning, and
WHEF,US, the purchase money for said property is to
be evidenced by five promissory notes executed by the City of
yeat °forth and the Park Board of said city, payable to the
said Tom Mason, described as follows: Five notes each in the
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sum of $1000.00 to become due and payable respectively in one,
two, three, four and five years after date, and one note
in the sum of $1500.00 payable six years after date, all
of said notes bearing interest at the rate of six per cent
per annum, interest payable semi-annually .
NOW, THEREFORE BE IT ORDAINED BY THE BOARD OF
COMMISSIONIMS OF THE CITY OF FORT WORTH:
Section 1: For the purpose of providing a
sinking fund, and sinking fund to pay interest thereon,
to pay off and discharge said above described notes when
due, there is hereby set apart from the ten cent ad valorem
tax provided for park purposes, two mills per annum;
one and one-half (1-1/2) mills of which said sum shall be
and constitute a sinking fund for the payment of said notes,
and shall be used for no other p4r ese; and one-half of one
idll of which fund shall be and hereby is set apart to pay
the interest upon said notes, and shall be used for no
other purpose.
Section 2 : In as much as there is an urgent public
interest for the speedy completion of said park, it is
hereby ordained that this ordinance shall take effect
from and after its passage.
I horeby certify that the above an ' fore oing Ordinance
was duly presented and unanimousll passed and alopted bi- the
Board of Commissioners of the Cit', of Fort ' orth,Texas at a
regular adjourned sessio# of said Board held Saturday F laruary
2nd,A.D.1918.
J�4City Se re ary.