The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1874-06-17
AN ORDINANCE.

Whereas at an election held in the city of
Dallas on the 18th and 18th days of July, 1892,
upon proposition that the city of Dallas
should take stock in the Dallas and Wichita
railroad company to the amount of one hrn-
dyed thon.aal dollars, and issue bonds OF
the city cfDallas TO the amount OF one hun
dred thousand dollars therefor, payable in
| twenty years, and bearing interest at the
| rate of ten per cent per nnnum, payable
semi-annually, two-thirds OF the qualified
voters of said city voted In favor of said pro-
position, and the city council OF the city OF
| nalias, on the lath day of July, 1872 declared
SAID PROPOSITION carried by the requisite ma
| jority and,
day Of December, 4, y, 1874, Nppn u PROPOSE
| tinn to issue to 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
ofsaid 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. u.
1874, declared said proposition carried by the
requisite majority therefore,
Be IL ordained by the city council OF the
city of Dallas. SeGt,en !. That one hund red
bonds OF the city OF Dallas OF the denomiha-
| ton of one thousand dollars each (number-
ed from one to one hundred inclnsiyel, paya-
NJ the rate OF ten per cent per annum, inter-
sat payable semi-annually-in to be
| reprcsented by forty coupons of the depomj-
nation Of fifty dollars each, he Autographed
that The mayor IS hereby Instructed, upon
| the completion of the grading and bridging
| of each section of five miles of said road, and
of the fractional section completing tho dis
lance to the county limo, and upon the IA
vOrable report OF the city engineer, and the
acceptance of said work by the city council,
to sign and have the secretary cppntersign
and to forward to tie oOmptloller q pnblic
OF
| d 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 Tho provisions of the two
propositions hereinbefore referred to as voted
| upon by the city of Dallas.
| Section .. That said bonds be delivered hy
| the mayor Of tho city or Dalla 10 the railroad
company, according TO tho terms OF said pro-
position, and upon delivery by the said rail
road of an equal amount OF full paid stock to
! the city of Dallas in said railroad company.
Section 3. That upon completion of said
railroad to the county line, according to the
original proposition as voted for ON the i2th
and 18TH days OF July, 1874, aforesaid and
upon tho favorable report'oith city engin-
| eef Of the city of Dallas upon said work Sc
completed, and the reception ofthe road by
| the city council of the city OF Dallas, the
mayor shall thep be 'anthaIi.ed to slGn aud
| to the comptroller OF PUBLIC accounts, "a
| aforesaid, the remainder of said one hundred
thousand dollars of said bonds, and deliver
the same to the sald railroad upon the rccep.
| ton or an equal amount OF paid up capital
stock of said railroad company.
Section 4. That there shall he assessed and
levied an annual ad vnlorem tax offorty-twt
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 payment OF the
Interest on said bonds and to create q sink.
ing fund for the redemption of the principal
| OF the same.
Section 4. That, upon tho issuance of any
bonds under the provisions OF this ordi
narce, the secretary of the city shall notify
the assessor and collector of the fact wht
shall at once proceed 10 collect one-half o
the annual tax levied under the fourth seq
ton of this ordinance.
Approved May ~ w. c,ppr, n.,or
w. II. PRATHER, Secretary. 109d1