[City of Clarendon Ledger: Ordinances 104-207] Page: 43
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43
16&
ORDINANCE LEVYING A TAX TO PAY INTMREST AND
CRE:ATE A S INKING FUND TO iMEET CERTAIN INDEBTEDNESS
FOR STREET IMPROViEMiETS, AND AUTHORIZING THE ISSUANCE
OF WIARRATS THEREFOR, AND DECILARING AN ElMERGENCY.
WHEREAS, the City of Clarendon, Texas, has heretofore
entered into a certain contract With Panhandle Construction Company for
improvements as follwws:
Contract for the making of certain street improvements
including paving, etc., on portions Of South Front Street, and
Sundry other streets, designated in said contract as Units Nos.
22 to 37, both inclusive, dated the 16th day of August, A.D, 1926.
and,
iWlHEREAS, at the time of making arid entering into such
contract provision was made by ordinance fir the levying and
collection of tax to meet the debt created by the contract,
the ordinance levying tax in connection with the said contract
having been passed on the 16 day of August, A.D. 1926, and the
said City agree^Eto issue its warrants in evidence of the debt
incurred by the^contract in accordance therewith:
THETIREFOR.-, BE IT ORDAIMED BY THE BOARD OF COIMMISSIONERS
OF THE CITY OF CLARENDON, TEIXAS:
I.
That warrants of said city, to be called r CITY OF CLA.IRENDON
STREET IlMPROVEMENTS JWARRAIhTS? SERIES 2, 1926" be issued under
and by virtue of the Constitution and Laws of the State of Texas
for the purpose of evidencing and paying an equal amount of
indebtedness of said city duly and legally incurred, and which
is a valid and subsisting and now outstanding obligation against
said City, which said indebtedness was incurred on said contract
for the improvement of said streets and avenues, and which
is for the principal sum of Twenty-Eight Thousand Dollars,
( $ 88,000.00), with interest thereon at the rate of 6% per
annum, payable semi-annually as herein provided, to Panhandle
Construction Company, or bearer, and is in all respects valid.
II.
Said warrants shall be numbered from 1 to 28, inclusive,
and shall be in the denomination of $1,000.00 each.
III.
They shall be dated the first day of lovemher, 1926, and
shall be payable as follows:
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Clarendon (Tex.). [City of Clarendon Ledger: Ordinances 104-207], legal document, 1965~; (https://texashistory.unt.edu/ark:/67531/metapth38108/m1/44/: accessed April 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting City of Clarendon.