Ordinance No. 970All
011DINANCE NO, 970
ORDINANCE APPROVING CLAIMS AND AUTHORIZING DELIVERY
OF' TIME WAR RAN'J.'S; CONTAINING OTHER PROVISIONS
RELATING I'() THE SUBJECT; AND PROVIDING THAT SAID
ORDINANCE SHALL, 13E EFFECTIVE IMMEDIATELY UPON ITS
ADOPTION
THE STATE OF TEXAS
COUNTY OF HARRIS
The City Council of the City of Baytown, Texas, con-
vened in special session, open to the public, at the City
Hal.1. within said City on the 32-d day of April, 1969, with
the following members and the City Clerk present, to-wit:
Don M. hullum Mayor Pro Tem
Ted Kloesel Councilman
C. Glen Walker Councilman
Lamar Kelley Councilman
I
,varancy) Councilman
(vacancy) Councilman
Mrs. Edna Oliver City Clerk
and Mayor Seat)orn Cravey absent, when, aii,iong other business,
the fol"1owlng i,,,ia,,-.3 t"r,an,.;,�acted:
An c,�,.-dinaice was introduced which was read in full.
Councilman Kloesel made a motion that the ordinance be
adopted as read. Councilman Walker seconded the motion for
adoption of the ordinance. ']_'he motion, carrying with it the
adoption of the ordinance, prevailed by the following vote:
AYES: Mayor, Pro Tem Hullum and Councili,yien
Kloesel and Walker
NOES: Councili,rian Kelley
The Mayor Pro Tem thereupon announced that the ordi-
nance had been duly and lawfully adopted. The ordinance
thus adopted follows:
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ORDINANCE APPROVING CLAIMS AND AUTHORIZING DELIVERY
OF TIME WARRANTS; CONTAINING OTHER PROVISIONS
RELATING TO THE SUBJECT; AND PROVIDING THAT SAID
ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON ITS
ADOPTION
WHEREAS, the City Council of the City of Baytown,
Texas, adopted an ordinance on March 20, 1969, authorizing
the issuance of $90,000 City of Baytown, Texas, Land Site and
Improvement Time Warrants, Series 1969, dated March 15, 1969,
for the purpose of evidencing the indebtedness of said City
for all, or any part of, the cost of acquiring and improving
land for municipal'purposes, including personal and professional
services to be rendered and other incidental expenses to be
incurred in connection therewith; and
WHEREAS, on March 20, 1969, the City Council adopted an
ordinance awarding a contract to Underwood, Neuhaus & Co.,
Incorporated, Houston, Texas, for professional fiscal services
in connection with the issuance of said time warrants; and
WHEREAS, following the adoption on March 20, 1969, of
said ordinance authorizing the issuance of said time warrants,
the City Council agreed to purchase a certain tract of land
consisting of 55.5114 acres from J. Milton Stewart, Trustee,
for a total consideration of $83,271; and
WHEREAS, the City Council hereby affirmatively finds
that each of the agreements mentioned above has been fully
and satisfactorily performed in every respect by the said
Underwood, Neuhaus & Co., Incorporated and the said'J.
Milton Stewart, Trustee, respectively, and that the claims of
Underwood, Neuhaus & Co., Incorporated, in the amount of $3,665,
and J. Milton Stewart, Trustee, in the amount of $83,271,
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respectively, have been presented to the City Council, the said
claim of J. Milton Stewart, Trustee, having been assigned to
Underwood, Neuhaus & Co., Incorporated, which is now the legal
owner and holder of each of the said claims; and
WHEREAS, the City of Baytown, Texas, does not hold
a claim of any kind or character which might properly be charged
or interposed as an offset or counterclaim to the payment
of the aforesaid claims, or either of them; therefore,
TEXAS:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
Section 1: That the matters and facts stated herein-
above in the preamble hereof are hereby found and declared
to be true and correct.
Section 2: That the claims hereinabove described in
the preamble of this ordinance in the total amount of $86,936,
be and the same are hereby approved, and the City.of Baytown,
Texas, hereby acknowledges receipt of the full benefits repre-
sented by said claims, and each of them, to the full extent
thereof and to the full extent of the time warrants hereinafter
authorized to be delivered, and it is hereby further recognized
that Underwood, Neuhaus & Co., Incorporated, Houston, Texas,
is the legal owner and holder of each of the said claims in
the total amount of $86,936.
Section 3: That in payment of the claims described
hereinabove in the total amount of $86,936, there shall be
executed and delivered to said Underwood, Neuhaus & Co., Incorporated
Warrant Nos. 1 through 87, aggregating $86,936, in the denomina-
tion of $1,000 each, except that Warrant No. 1 shall be in the
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denomination of $936, said warrants being City of Baytown,
Texas, Land Site and Improvement Time Warrants, Series 1969,
dated March 15, 1969, as heretofore authorized to be issued
by the City Council,
Section 4: That each of said warrants shall be signed
by the Mayor, countersigned 1-.yy the City Clerk, registered
by the City Treasurer, and the official seal of the City
Council of the City of Baytown, Texas, shall be impressed upon
4r'' each of said warrants.
Section 5: That this ordinance shall become effective
and be in full force upon and of its adoption, and it is so
ordained.
ADOPTED this 3rd day of April 1969.
City Clerk
City of Baytown, Texas
(SEAL)
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