The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1874-06-19
AN ORDINANCE.

whereas, ut IN election held IN the city of
Dallas on the l2lh ana 18th days Of July, 1872,
upon u proposition that the city Of Dallas
| should take stock Ia the Dallns ana wichita
rallrond company 10 the amount OF one nun
dTpd Thousand dollars aud issue bonds OF
| the city of Dallas 10 the amount Of one hun
drod thousand dollars therefor, payable IN
twenty years, ana boarlng Interest ~ the
rate, OF ten per cent per nnnnm' payable
voters OF said city voted In favor Of said pro-
position, aud the city council of the city or
Dnllas, ON the 10Th day of July, 1879 declared
said proposition carried by the requisite ma
IOrty ANA,
Whorons, nj IN eectiod held ON the second
day Of December, A. ID. 1873, upon n PROPOSE
tlOn to issue Ia the Dallas and Wichita rail-
road company iltccn thousand dollars Of
said bonds upon the completion Of the grad
Ing and bridging OF each section of ilvs miles
of said railroad, Mo-thrds of ihe qualified
voters of snid city voted In invor " said pro-
position, ANA the city council of the city of
Dallas, on the nrst day OF January, A. d.
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 donomiua-
ton OF one thousand dollars each (numbcr-
ed from one to one hundred incluslVcl, paya-
BILE twenty years from date, bearing Interest
nj HE rate of ten per cent per anuum, inter-
est payable somi-annually -intorest 10 be
represented by forty coupons of the dcnOmi-
nation OF tlny dollars eucl, be Autographed
NJ the expense OF said railroad company,
TINT the mayor Is hereby instructed, upon
the completion of the grading and bridging
of each section Of llvO miles of said road, aud
of the fractional section completing the dis
lance to the county line, aud upon the III
Vornblc report of tile city engineer, and the
acceptance of said work by the city council,
to sign aud have the secretary cOunterslgn
and 10 forward 10 the comptroller OF public
accounts of the state of Texas for registration,
IA IlipinuI nnmlDpp N A guil hpula mot A
Cecd in amount the sum of fifty thousand
dollars, 10 meet the demands of the railroad
company, under HE provisions of the two
propositions horCinbeiOro referred to nS voted
upon by the city of Dallas.
Section 2. That said bonds he delivered by
the mayor oithe 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 rull paid stock TO
| the city of Dallas In said railroad company.
| section y. That upon completion of said
! rnllroNd TO the county line, according to the
original proposition us voted for on the 18th
and 18th days of July, lM2, ntoresuli 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, tile
mayor shall then be authorized TO sign and
| have the secretary countcrslgn and forward
| TO the comptroller of public accounts, ns
| aforesaid, the remainder of said one hundred
| thousand dollars of said bonds, md deliver
| the same to the said railroad upon the rcccp-
| ton OF mn equal amount of paid up capital
| stock of said railroad company.
| Section 4. That thcre shall he assessed and
| levied mn annual nd ValOrem tax off0rty-two
| and One-half cents on the one hundred dol
lars value of taxable property, both real and
| personal, lying ana situated in the city of
| Dallas, TO provide for the pay ment of tho
| Interest on said bonds, and TO create sink
Ing fund Tor the redemption of the principal
| of the same,
Section ., That, upon the. issuance of any
bonds under the provisions of this ordi-
narce, the secretary of the city shall notify
| the assessor aud collector of the fnct, who
| shall at once proceed to collect onc-hnlf OF
| the annual tax levied under the fourth Soc
| ton of this ordinance.
| Approved May 20, 1874.
W. l.. OABELI., Mayor.
| w. ii. PRATiiER, Secretary. l00d7t