The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1874-06-18
AN ORDINANCE.

Whereas, at an election held In the city of
Dallas on the l2th and 18th days of July, 1902,
upon II proposition TINT the city Of Dallas
should take stock In the Dallas and 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 hum
| dred thousand dollars therefor, payable In
| twenty years, and bearing Interest ut the
rate of ten per cent per annum, payable
| scmi-annuully, 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 10Th day OF July, 1877, declared
said proposition carried by the requisite ma
iOrity ana,
Whereas at au electod held ON the second
day of December, a. ID, 1873, upon II PROPOSE
| tlOn to issue 10 the Dallas and Wichita rail-
| road company fifteen thousand dollars of
said bonds upon the completion OF the grad
| ing and hrldging OF each section of Ave 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. b.
1871, declared said proposition carried by the
requisite majority therefore,
BE IL ordained 10y the city council of the
cityof Dallas Section |, That ono hundred
bonds o. the city of Dallas of the denomina-
ton OF one thousand dollars each number
ed from ono to ono hundred incluSivcl, paya-
bic twenty years from date, bearing Interest
| NJ the rate of ten per cent per Nnnun, inter-
est payable -nnnuNliy-interest to he
| represented by forty coupons of the denomi-
| tltNttNll vi hAAN NNl4NiN tNNlt We lllHOklunntU
at the expense OF Suid RAILROAD company,
| TINT The mayor is hereby Instructed, upon
| the completion OF tile grading and bridging
| of each section ut i've miles OF said road, and
| OF the fractional section completing the dis.
| tauCe to the county line, and upon the IN.
Vurahlc report OF the city engineer and the
acceptance Of SNid work by the city council,
to sign aud have the secretary counterSgn
and to forward TO the comptroller of public
accounts of the state Of Texas for registration,
a sufficient number OF said bonds moi To ex-
cocd I'm amount the sum Of MY Thousand
dollars, To meet the demands of the railroad
company, under The provisions of the two
propositions hereinbefOre referred TO as voted
upon by the city OF Dallas.
Section =. That said bonds be delivered by
the mayor ottho 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 pnid 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 MS 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 40
completed, and the reception of the road by
the city council of The city of Dallas, the
mayor shall then be authorized 10 Sign and
have the secretary counterslgn ana iurwdTd
TO the comptroller of public accounts, as
aforesaid, the remainder OF said one hundred
thousand dollars of said bonds, and deliver
the same to tue said railroad upon the recep-
ton OF an equal amount of paid up capital
stock of said railroad company. T.
section I, That there shall be assessed aud
levied an annual nd vaorem tax of forty-two
and one-halt 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 paw ment of the
Interest on said bonds, and to create q sink
Ing mnd tor the redemption Of the principal
of the same. -. -
section ). That, upon the issuance of any
bonds under the provisions OF this orli-
nance, the secretary of tue city shall notify
the assessor aud collector of the filct, who
shall ut once proceed to collect one-half OF
the annual INK levied under the fourth see
ton OF this ordinance.
Approved May 20, 1871.
w. II. PRArrER, Secretary. iO9i5l