The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1874-06-21
MISCELLANEOUS.
AN ORDINANCE.

whereas, at an election held In the city o
Dallas on thel2th and 18th days of July, 1892
upon proposition that the city OF Dullns
should take stock In the Dallas and Wichiti
railroad company TO the amount OF one hun,
dred thousand dollars, aud issue bonds oi
the city OF Dallas 10 the amount of one hun,
dred thousand dollars therefor, payable In
twenty years, aud bearing interest ut tn,
rate OF ten per cent per annum, payable
seml-annually, two-thlrds of the qualified
voters OF said city voted in favor OF said pro.
position, and the city council OF the city OF
Dallas, On the 10Th day OF July, 1872, declared
said proposition carried by the requisite ma
| jority and,
Whereas, at an electiod held on the second
ton 10 issue 10 the Dallas and Wichita rail-
road company fifteen thousand dollars OF
said bonds upon the completion OF the grad
Ing and bridging OF each section of five miles
OF said railroad, two-thirds of the qualified
voters of said city voted in favor OF said pro-
position, and the city council of the city OF
Dallas, on the first day of January, A. ID.
1874, declared said proposition carried by the
requisite majority therefore,
Be II ordained by the city council of the
city of Dallas. Section |. That one hundred
| bonds of the city of Dallas of the denomina-
ton OF one thousand dollars each Number
| ed from one To one hundred inclusiVel, paya-
| Bile twenty years from date, hearing interest
| mt the rate OF ten per cent por unnum, inter-
est payable Observation-Disclosures 10 be
represented by forty coupons OF the denOmi-
|
NJ the expense of said railroad company,
that the mayor Is hereby instructed, upon
| the completion of the grading and bridging
OF each section OF Ave miles of said road, aud
| of the fractional section completing the dis
| lance to the county line, ana upon the IN.
vorable report of the city engineer, and the
acceptance OF said work by the city council,
| to sign and have the secretary counterslgn
and TO forward to the comptroller of public
accounts of the state OF Texas Tor registrations
sufficient number of said bonds not to ex-
coed in amount the sum OF fifty thousand
dollars, to meet the demands of the railroad
company, under The provisions of the two
| propositions hereinbelOre referred to rs voted
upon by the city of Dallas
Section 2. That said bonds be delivered by
| the mayor of the city of Dallas to the railroad
| company, according to the terms of said pro-
position, and upon delivery by the said rail-
road of an equal amount OF full paid stock 20
the city OF Dallas In said railroad company.
| Section B. That upon completion of said
| railroad 10 the county line, according TO the
original proposition as voted for on the 18th
and 18th days of July, 1872, aforesaid and
upon the favorable report of the city engin-
Ger of the city of Dallas upon said work so
completed, and the reception of the road by
! the city council of the city of Dallas, the
mayor shall then be authorized to sign and
| have the secretary countersign and forward
10 the comptroller of public accounts, as
aforesaid, the remainder of said one hundred
thousand dollars of said bonds. and deliver
the same to the said railroad upon the recep-
ton of an equal amount of paid up capital
stock OF said railroad company.
Section 4. That there shall be assessed and
levied an annual ad valorem tax offorty-two
and one-half cents on the one hundred dol.
lars value of taxable property, both real and
personal, lying and situated in the city of
Dallas, TO provide for the pay ment of the
interest on said bonds, and 60 create II sink
Ing fund tor the redemption of the principal
OF the same.
Section 8. That, upon the. issuance OF any
bonds under the provisions Of this ordi-
nan ce, the secretary of the city shall notify
the assessor and collector of the fact, who
shall at once proceed to collect one-half oil
the annual tax levied under the fourth Sec
ton of this ordinance
Approved May 26, 1874.
W. L.. CABELL, Mayor.
W. ii. PRATHER, Secretary lOgd7t