Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-03-29

LEGAL ADVERTISEMENT
maturing March is, 1858: bonds
number 81 to 80, inc, maturing
March Is, 1854; bonds number 40 to
AZ, inc, maturing March Is, 1855;
bonds number 43 to As, inc, matur-
ing March Is, 1856; bonds number
AZ to SO, inc, maturing March Is,
1857; bonds number 81 to 81, inc,
maturing March is, 1858; bonds
number IS to So, inc, maturing
March Is, 1859; bonds number SO to
60, inc, maturing March Is, 1850;
bonds number "a to 68, inc, ma
turing March Is. 1861; bonds num-
Der SO to 70, inc, maturing March
Is, 1862; bonds number IA to 70, inc,
maturing March Is, 1868; bonds
number rs to "a, inc, maturing
March Is, 1854: bonds number IS to
80, inc, maturing March Is, 1865;
bonds number 81 to 81, inc, matur-
ing March Is, 1866; bonds number
SO to 104, inc, maturing March Is,
1867; bonds number los to 112, inc,
maturing March Is, 1865; and bonds
number 113 to 100, inc, maturing
March 16, 1869; the said order SO
entered setting forth fully and in
detail the number, the date of ma
turity, denomination, and the total
amount of bonds due each year;
and also setting fort ha copy Of said
bonds, and the coupons attached
thereto. And it was further pro-
vided in said order that said bonds
should bear interest from their dates
at the rate Of six per cent per
annum, payable semi-annually (ex-
cept that the first interest coupons
shall be for IL months INTEREST," on
the 18th day of March and Septem-
Der of each year, after date. And
that the principal and interest on
said bonds should be payable on
presentation and surrender of bonds
and the proper coupons, at the Sea-
board National bank Of New York
City, New York; and further that
said bonds should be signed by the
president and atteSted by the Secre-
tary of the board Of directors of
said district, and the seal of said
district should be affixed thereto;
provided, however, that the sigma
lures of said president and secre-
tary may be printed or autographed
on said coupons, and that said bonds
shall be registered by the comp
troller of public accounts of the
State of Texas, as, required by law
and that a record of said bonds is
sued should be kept by the county
clerk of Cameron County, Texas, as
required by law; and it was further
ordered that to pay the interest on
said bonds and to create q sinking
fund for the redemption of said
bonds at their maturity, there
should be annually levied, assessed
and collected an ad valorem tax up
on all of the taxable property Sit
uated within said district, real, per-
sonal and mixed, sufficient to pro-
duce amounts necessary to pay the
interest and principal on the bonds
maturing each year, the said order
so entered showing in detail the
amounts necessary to be raised to
pay Interest and the principal of
said bonds maturing each year; and
Tor the purposes mentionedsaid
board levied for each of the years
1929 to 1868, both inclusive, an adj
valorem tax of $2.11 on each 500
valuation of all taxable property in
SAID district, OF so much thereof as
might be necessary to provide the
amounts specified in said order, and
provisions to meet the requirements
thereof, should be in due time, man.
ner and season, annually thereafter
made; and it was further provided
by said order, that the proceeds of
taxes thereinbefore levied, as set
out, should be preserved in a separ-
ate fund, to be designated as an
Interest and Sinking Fund" and
that no part of the proceeds of said
tax should be applied or used for
any other purpose than the pay
ment of principal and interest of
the bonds authorized to be issued, or
until all OF the said bonds and cou-
ponS have been paid and cancelled:
and further provided that there
should be annually levied, assessed
and collected an advaIorem tax up-
on all of the taxable property sit
uated within said district, suffici-
ent to pay the expenses of assessing
and collecting said tax for principal
ana interest, and said board levied
n assessed for the year 1929 an
advalorem tax of five cents on each
500 valuation of all of the tax
able property within said district
the same to be applied to the pur-
poses named, as the law directs. i. e
Ior inc purpose of paying the ex-
penseS OF assessing and collecting
SAID taxes for the payment of prin-
c1pal and interest on said bonds.
ana being in addition to the tax of
S2.11 per 500 avluation. previous
ly levied for that purpose; which
SAID board of directors, herewith
NED and here referred to and made
to and made part hereof.
Your petitioner alleges that all
OF the acts, conditions and things
requisite and necessary to be done
IN n creation of your petitioner
a Water Improvement District. and
IN connection with the issuance or
SAID Bonds and levy of taxes in
payment therefor, and the levy of
an additional tax to defray the ex-
penses of collecting the taxes lev
led for the payment Of interest and
principal of said bonds have been
done, happened and performed in
regular and due form, and in the
manner required by the Constitu-
ton and laws of the State of
Texas; and that the total amount
OF said Series of Bonds, together
with all other Indebtedness of said
district, and the taxes levied, do
not exceed the Constitutional and
Statutory limitation.