ORD 37 06/18/1971 ,... 410 •
3' 7
ORDINANCE NO. 37
AN ORDINANCE AUTHORIZING THE ISSUANCE OF A CITY OF
CIBOLO PARK AND PLAYGROUND WARRANT, DATED 1971,
AGGREGATING $18, 000.00 BEARING INTEREST AT THE RATE
OF 51/2% PER ANNUM, FOR THE PURCHASE OF 12.922 ACRES
OF LAND FOR USE AS PARK AND PLAYGROUND; PROVIDING
FOR THE LEVYING AND COLLECTION OF TAXES ON ALL THE
TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE
PRINCIPAL AND INTEREST OF SAID WARRANT AS IT MATURES
WHEREAS, it is determined in the best interest of the City of
Cibolo to purchase a park and playground for the use and enjoyment
of the citizens of said city; and
WHEREAS, the City of Cibolo, Texas, has this day by and through
its Mayor authorized by the City Council entered into a contract with
Murrice L. Noel, of Comal County, Texas to purchase a certain 12. 922
acre tract of land in the City of Cibolo, A. S. Lewis Survey, Guada-
lupe County, Texas, adjacent to the Cibolo Creek which said 12. 922
acre tract of land is suitable for a park and playground for the total
consideration of $19, 500.00; and
WHEREAS, the City Council finds and adjudicates: (1) That
all legal requirements in reference to execution of said contract
and in reference to' the organization of this meeting and in reference
to the passing of this ordinance have been complied with, and (2) that
pursuant to the provisions of Chapter 163, Acts of the regular session
of the 42nd Legislature of the State of Texas, the City is duly auth-
orized to issue warrants to pay for the purchase of the above described
land; and
WHEREAS, the City does not have on hand $19, 500.00 in cash
available to pay the entire purchase -price of said land, but will have
and r-ecieve from taxation sufficient funds to pay for the warrant
hereinafter authorized and all interest due thereon;
• • s •
NOW THEREFORE BE IT ORDAINED BY:THE CITY COUNCIL OF THE CITY
OF CIBOLO, TEXAS:
1. That said contract between Murrice L. Noel and the City of
Cibolo for the purchase of that certain 12. 922 acre tract of land in
the City of Cibolo, A. S. Lewis Survey, Guadalupe County, Texas and
being the same 12.922 acre tract of land conveyed by deed dated
May 14, 1968, executed by Alvin Remmler et al to Wayman D. Marshall
et ux and being recorded in Volume 409, page 392 of the Deed Records
of Guadalupe County, Texas for the total consideration of $19, 500.00
be and the same is hereby in all things ratified, confirmed, approved
and adopted as the act and contract of said City and the same shall
have effect accordingto its tenor and purport;
2. That in accordance with said contract, a time warrant on
said City shall be denominated "City of Cibolo Park and Playground
Warrant , Dated 1971" and be issued in the amount of $18,000.00
payable to bearer, evidencing the indebtedness due by said City,
under and by virtue of said contract;
3. That the balance of the consideration in the amount of
$1, 500.00 and all closing costs of this transaction be authorized
to be paid out of current funds;
4. That said time warrant shall be in an amount of $18, 000.00
and bear interest at the rate of 511per annum with both principal
and interest being payable at the Cibolo State Bank, Cibolo, Texas.
The principal of this warrant shall be payable in 18 annual install-
ments of $1, 000.00 each, with the first installment being due and pay-
able on the 18th day of June, 1972 and one installment to become due
and payable on the 18th day of June of each succeeding year there- ,
after until the whole principal sum is' paid. The interest on this
- 2 -
• • • • IVO
•
warrant is payable annually on the unpaid balance of this warrant
on the same dates as the principal.
5. Said warrant shall be signed by the Mayor, countersigned
and registered by the City Secretary and the seal of the City shall
be impressed upon it.
6. The form of said warrant shall be substantially as follows:
$18, 000.00
UNITED, STATES OF AMERICA
STATE OF TEXAS
CITY OF GIBOLO
PARK AND PLAYGROUND WARRANT, DATED 1971
THE CITY OF CIBOLO, TEXAS, a municipal corporation in Guadalupe
County, Texas, duly incorporated under the General Laws of the State
of Texas, for value received acknowledged itself indebted to the
bearer in the sum of Eighteen Thousand andNo/100 ($18, 000.00) DOLLARS
in lawful money of the United States of America, with interest thereon
from date hereof, at the rate of 52 per cent per annum, both principal
and interest payable at the Cibolo State Bank, Cibolo, Texas.
The principal of this warrant shall be payable in 18 annual installments
of $1,000.00 each, with the first installment being. due and payable on
the 18th day of June, 1972 and one installment to become due and pay-
able on the 18th day of June of each succeeding year thereafter until
the whole principal sum is paid. The interest of this warrant is pay-
able annually on the unpaid balance of this warrant on the same dates
as the principal. Upon presentation of this warrant, on or after a
payment date, the City Secretary is authorized, ordered and directed
to pay bearer all principal sums and interest which has matured. In
the event the sum of money evidenced by this warrant shall not be paid
at maturity, the same shall thereafter bear interest at the rate of
Six (6%) per cent per annum, until fully paid, and in =the event of
such default and it becomes necessary for the holder hereof to place
claim therefor in the hands of an attorney for collection or to in-
stitute suit thereon, then said City obligates itself to pay to holder
an additional ten per cent as attorney' s fees.
This warrant is issued for the purpose of evidencing the indebt-
edness due by said City to the bearer for the purchase of a park and
playground in accordance with a contract therefore and pursuant to
an ordinance passed by the City Council of said City which ordinance
is recorded in the minutes of said Council.
The date of this warrant in conformity with the ordinance above
mentioned is June 18, 1971.
And it is hereby certified and recited that all acts, conditions,
and things required to be done, precedent to and in the issuance of
this warrant have been properly done, have happened and been performed
in regular and due time, form and manner as required by law, and that
the total indebtedness of said City, including this warrant does not
- 3 -
• • . • •
exceed any constitutional or statutory limitation; and that a suf-
ficient tax to pay the principal and interest of this warrant has
been levied for said purpose and will continue to be annually levied,
assessed and collected while said warrant is outstanding.
IN TESTIMONY WHEREOF, the City Council of the City of Cibolo
has caused-the seal of said City to be hereto affixed and this warrant
to be signed by the Mayor, countersigned and registered by the City
Secretary as of the 18th day of June, 1971.
COUNTERSIGNED:
Mayor, City of Cibolo, Texas
44-,t7L
s.
City Secretary 04
REGISTERED as of the 18th day of June, 1971.
a."1"(t
City Secretary, CI. y of
- " Cibolo, Texas
7. Be it further ordained by the City Council of the City of
Cibolo, Texas, that to pay the interest and to create a sinking fund
to retire said warrant at its maturity and to provide 10% attorney' s
fees in event of default, a tax at a sufficient rate on the one hun-
dred dollars evaluation of all taxable property in said City out of
the $1.25 taxing fund of said City to produce the sum of $1, 990.00
is hereby levied for the year 1971. That during the year 1971 and
each year thereafter while said warrant is outstanding and unpaid and
at the time other city taxes are levied in each of said years there
shall be computed and ascertained what rate of tax based upon the
latest approved tax rolls of said City will be necessary, requisite
and sufficient to fully make, raise, and produce in each of said years
the amount of principal necessary to be raised for that year, plus
the interest maturing in said year upon the amount of this warrant
outstanding and unpaid and provide for 10% attorney' s fees in case of
- 4 -
•
• 4111
•
default, and for each of said years there is hereby ordered to be and
there is hereby levied and ordered to be assessed and collected in due
time, form and manner a tax at the rate which shall be found necessary
as aforesaid, and all the proceeds of such taxes shall be placed in a
separate fund for this warrant, known and designated as "Special
City Park and Playground Warrant Fund, Dated 1971" , and the City Sec-
retary shall not honor any draft upon said fund or pay out any of the
same except in the payment of interest and principal on said warrant,
or for attorney ' s fees as provided above.
8. The Mayor and City Secretary are hereby directed to execute
said warrant, and the Secretary is hereby directed to register it,
and said officers are hereby directed to deliver said warrant to the
said Murrice L. Noel in consideration for the delivery to the City of
Cibolo of a properly drawn, executed and delivered Warranty Deed to
said 12.922 acre tract of land in accordance with the Contract.
PASSED AND APPROVED, this the 18th day of June, 1971.
;?..4114/14-g--:
Mayor, City of Cibolo, Texas
COUNTERSIGNED:
4 C=icy Secreta_rry
r City, of CiboLo; Texas
\
- 5 -
Now mor
• • • •
TO THE HONORABLE MAYOR AND THE CITY COUNCIL OF THE CITY OF CIBOLO,
TEXAS:
We,, the sole owners, of the hereinafter described territory
on which less than three (3) qualified voters reside, which is less
than one-half (2) mile in width and contiguous and adjacent to the
city limits of the City of Cibolo, Texas, do hereby petition that
the following property described in Exhibit "A" , a copy of which is
attached hereto and made a part hereof as if the same were fully
set out herein, be received, accepted and made a part of the cor-
porate limits of the City of Cibolo, Texas.
, 2Z_ „AA/00A
Jo_ephine Schubert, Indepenaent
Executrix of the Estate of Sophie "
Reiley, Deceased
Fred L. Cunningham /
CI
Mary . Cunningham 0-A.)---vV4-4,4-7)/./.--01.-ipi ,1
THE STATE OF TEXAS X
COUNTY OF GUADALUPE X
BEFORE ME, the undersigned, a Notary Public in and for said
County and State on this day personally appeared Josephine Schubert,
known to me to be the person whose name is subscribed to the fore-
going instrument and acknowledged to me that she executed the same
for the purposes and consideration therein stated, and in the capa-
city therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the r (,:,
day of � -� ryi ra 2 , 1970.
ary Wy-
ss' I ' � 1l( '\ Notar Public in and or
;, n •; Guadalupe County, Texas.
eSe i e