The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1873-08-01
REV ADVERTISEMENTS
L. DIV PORTER,
Attorney and Counsellor at Law,
Dallas. TpcEass-

-
n ORDINANCE authorizing the Issue OF
N bonds Of the City Of Dallas To retire Il
part OF the debt thereof, and 10 create Il lund
to pny the interest and principal OF said
bonds.
OF the City of Dallas, That the Mayor OF this
city be ana is hereby authorized 10 have en-
sruVcd or printed coupon bonds OF the Clty
ofDJllas with scmi-unnual coupons attached,
which bonds shall be styled, "Fundud Debt
Bonds of the city of Dalins.'
Sec ?. The total amount of bonds, by and
under the authority OF this ordinance, shall
not exceed fifty thousand dollars, ana tuc
bonds SO issued shall bear date August |, 4.
u. 1878, and shall be duo and payable ten
years after date, and shall bear interest ut
The rate of ten per cent per annuln, interest
payable Scmi-anuually, ON the first days OF
january ana July Of each year. on pres nta-
zion OF coupons TO the city Treasurer, at his
Office, in the city OF Dallas, and the principal
shall likewise be payable NJ the Office OF said
/ City Treasurer, ON maturity nj the bonds.
Sec. 3. Every holder of the scrip issued by
tho City of Dallas, Or of amy genuine note, or
promise 10 pay of said city, or cert llcate OF
indebtedness, or any approved claims, or
any claims now due and which may hereat-
ter be approved by the CITY Council except
as hereinafter provided, may purchase said
bonds with his evidence of debt AT par, and
may ut any time during the current year, ny
filing with the Mayor his evidence of debt,
receive from the Mayor bonds to The amount
terest, in sums OF one hundred dollars or any
multiple thereof; and the Mayor Is hereby
authorized 10 issue bonds TO applicants In
accordance with the provisions of this Oldi-
nance; provided, nevertheless, that this or
dmancc shall not apply TO person or persons
holding the scrip, or evidence of debt, OF the
city, for land condemned for right of way
and depot purposes of the Houston ana Cen
trail Railway Company and for right Oi way
of the Texas and Pacific Railway Company
through the city OF Dallas; and that the
bonds of the city shall not be issued to the
holders of said last mentioned scrip, or other
evidence OF debt against the city, without
authority of the City Council hereafter given
the Mayor by ordinance.
Sec. 4. The bonds herein authorized shall
be payable to ---- -----, or bearer, and the
same shall be signed by the Mayurand oOln-
tcrsigned by the City secretary, and recorded
in tho office of The said CITY Secretary, In
book tO be ept for that purpose ana there
shall be aft, cd TO said ponds the corporate
seal of the city of DALLAS,
Sec, s. That said bonds shall be issued ia
sums of one hundred dollars or any multiple
thereof
Sec. q. In order TO provide for the punclu0l
payment Of the semi-annual interest of the
bonds herein authorized, aud To create II sink
ing fund To redeem and pay said bonds at or
before maturity, thee Is hereby apprOpri-
ated annually live Thousand dollars out of
all funds pertaining to the general revenue
of the City of Dallas, which sum SHAH by tile
Treasurer OF the city Of Dallas, be deducted
from all payments made TO him by amy OF
the collecting officers OF the city, three thou.
sand dollars OF which he shall place TO the
credit of The interest Iund, and two thousand
dollars of which he shall place TO the credit
of the sinking fund; and IL is hereby declared
that the said interest fund shall be- and is n
specia. deposit, not subject to draft nor To
! appropriation To any other purpose than the
| payment OF tlln semi-annual interest un the
| bonds herein provided for, and shall be dis
| burseable only In payment OF the matnred
coupons of those bonds, when presented, or
! If a surplus should accumulate, TO the re-
| demptiOn or purchase Of those bonds,
| Nee. !. When there shall remain In The
| hands OF the Treasurer, o. the fund created
| by the foregoing section, an amount not less
| than two thousand dollars, and In excess of
| the next semi-annual pas iuent of interest, IL
shall then be the duty of the Mayor to adj
vertisc proposals TO redeem the bonds au-
! thogilcd by this ordnance Ia the extent Of
| the sums 50 available, ana should the bonds
not BE- offered on terms 10 be prescribed by
the City Council satisfactory for redemption,
! Il shall then be the duty of the Mayor to In
| vest the same in United states bonds, which
| bonds snail be deposited with the Treasurer,
| and the same shall not be used or applied,
| except to pay the interest and principal of
the debt created by this ordinance.
| Scc.S. The Treasurer of the City of Dallas
! shall keep separate account OF Hli monies
received and all coupons paid, and shall can
| Gel all coupons paid in tine prescnte Of the
Mayor Of The city, and shall lille In the Office
| of the city secretary list OF slch coupons
with dates, amounts and numbers, twice In
| each year.
See. .. When any matured coupons of the
bonds Is presented at the Treusurer's office,
| he shall pay tine same without delay, from
any general fund In his lands not uppro-
| prlated, should the Interest fund be ex-
| haustcd.
Sec. 10. The faith of the City OF Dallas and
| her resources and Income on general accounts
Is hereby pledged to holders Of bonds author
/ ixnI lac fins nfIfnansa f.rl lss Ittinpfliul "
ment of the Interest and principal when due.
See. II. That the scrip, or other evidences
Of debt Of the city, for which the bonds of the
1 city are authorized to be Issued by this ortli-
nance, shall not be paid ny the city Treas
urer out Of any monies which may now be-
or which may hereaftt 7 come into his hands.
Geo. l.. Thatthis ordinance shall take effect
| and be in force from and after It. passage.
Passed July -, 1876.
BEN. LONG, Mayor.
| AIinsi. q \ NIrcuIII- Ganr.tarv