The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1874-06-23
MISCELLANEOUS.
AN ORDINANCE.

whereas, at an election held IN the city of
Dallas on the 18th and l8th days OF July, iS0l,
upon proposition that the city of Dallns
should take stock In the Dallas aud Wichita
railroad company TO the amount of one hun
dred thousand dollars, and issue bonds of
the city OF Dallas to the amount of one hun
dred thousand dollars therefor, payable In
twenty years, aud bearing interest at the
rate OF ten per cent per annum, payable
semt-annually, two-thlrds of the qualified
voters of snid city voted In favor of suid 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
lOl1ty ami,
Whereas, at an electiod held on the second
day of December, a. II. 1873, upon II PROPOSE
ton 10 issue TO the Dallas and Wichita rail-
road company fifteen thousand dollars of
SAID bonds upon the completion OF the grad
ing ana bridging of each section of Ave miles
OF sud railroad, two-thirdS of the qualified
voters of said city voted In favor OF said pro-
position, and the ely, council of the city of
Dallas, ON the first day OF January, A. d.
1874, declared said proposition carried by the
requisite majority therefore,
BE 1t ordained by the city council of the
city OF Dallas, Section !. That one hundred
bonds of the city of Dallas of the denomina-
non OF one thousand dollars each humber
ed from one To one hundred inClusiVe), paya-
bic twenty years from date, bearing interest
NJ lie rate OF ten per cent per annum, Inter-
est payable ACKNOWLEDGEMENTS to he
represented by forty coupons of the denOmi-
nation of fifty dollars each. he Autographed
ut the expense of said railroad company,
that the mayor is hereby instructed, upon
the completion of the grading and bridging
of each section OF 1--we miles of said road, and
of the fractional section completing the dis.
lance to the county line, and upon the in.
vorablc report of the city engineer, and the
acceptance OF said work by the city council
to sign and have the secretary counterSign
and 10 forward To the comptroller of public
accounts OF The state of Texas for registration,
Il 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 hereinbefore referred to as vote
upon by the city of Dallas.
SeGtiQn2. That said bonds he delivered by
the mayor OF The city OF Dallas 70 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 to
the city of Dallas III said railroad company.
Section 3, That upon completion Of said
railroad to the county line, according 10 the
original proposition as voted for on the 18th
and lith days of July, 1872, aforesaii and
upon the favorable report OF the city cngjn-
Ger Of the city of Dallas upon said work so
and the reception OF the road by
the city council of the city of Dallas, the
mayor shNll then be authorized to sign and
have the secretary countersign and forward
10 the comptroller of public accounts, as
the remainder of said one hundred
thousand dollars OF said bonds, and deliver
me same 10 the sald railroad upon the recep-
tlon OF an equal amount of paid up capital
stock Of said railroad company.
Section 4. That there shall be assessed and
levied an annual al ValOlem tax of forty-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, aud to create q sink
ing fund tor the redemption of the principal
OF the same.
Section 8. That, uDOn the.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 who
shall AT once proceed to collect one-half OF
the annual tax levied under the fourth Sec
ton of this ordinance.
Approved May 20, 1874
W. l.. CABELL Mayor.
W. IL. PRATHER, Secretary l09dIt