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Austin Water Works Bond Sale Approved

Wednesday, October 15, 1890 special called

Major Infrastructure Funding: The City Council unanimously approved the sale of $400,000 in bonds to fund water works and electric light improvements for Austin, with a local investment group (including the Brackenridge and Hancock families) purchasing the bonds at par value.

Dam Construction Green Light: The bond proceeds will finance construction of a proposed dam to supply the city with reliable water and electricity services, addressing critical infrastructure needs.

Treasury Oversight: The council approved a $100,000 bond for city treasurer J.S. Myrick to ensure proper handling of water and light fund finances.

Swift Approval Process: All measures passed with overwhelming support (16 votes in favor), with the ordinance expedited through three readings in a single meeting, indicating strong council consensus on the project's importance.

Full Transcript

6 The minutes of a Called meeting of the City Council. Austin, Tex, October 15, 1890. Hon. Henry H. Linn, president of the board of of Aldermen, presiding. Roll Roll Call - Present - Aldermen Anderson, Alsmann, Carleton, Graham, Hume, Jackson, Linn, Morris, Nitschke, North, Phillips, Schuler, Townsend - 13. Call. Absent - Aldermen Jones, Metz, Newton, Platt, Schneider, Wingfield, Ziller - 7. Call of Council. Alderman Phillips moved a Call of the Council, which was duly adopted and the marshal sent after the absentees. Ald. Newton,Wingfield, Jones. Aldermen Newton, Wingfield and Jones entered the Council and answered to their names. Call suspended. It appeared to the Council that each member of the City Council of the City of Austin had been served with notice of this special meeting of said Council and Alderman Phillips then moved to suspend the call of the Council. Adopted. Call read. The following was then read: Austin, Texas Oct 15, 1890. To the members of the City Council of the City of Austin: Gentlemen:- A Special meeting of the City Council of the City of Austin is hereby called to meet in the City Hall at 12:30 p.m. this the 15th day of October 1890, for the purpose of receiving and acting upon the recommendations of the Board of Public Works with reference to the sale of the Water Works and Electric Light Bonds and the bids for the erection of the proposed Dam for the purpose of supplying the City of Austin and the citizens thereof with water and light. John Mc Donald, Mayor. I, John Chenneville, a policeman of the City of Austin hereby certify that the above call for a special meeting of the City Council was served on each Alderman of the said City of Austin, Tex, John Chenneville. Bonds, bid for Alderman North then presented the following bid for the bonds, which had been received by the board of public works. Austin, Tex., Oct 15, 1890. Hon John McDonald, mayor of the City of Austin, Austin, Texas. Sir: The undersigned hereby offer to purchase the four hundred thousand ($400,000) dollars of City of Austin Waterworks and Electric Light 5 per cent gold bonds at --- Page break --- par and accrued interest in accordance with your advertisement of August 6, 1890, a copy of which is hereto attached, Said bonds, if awarded to us, shall be delivered in the city of Austin, Texas, and the full proceeds thereof shall be paid to the treasurer of Said City on this date. Enclosed find Certified Check for $10.000 payable to the order of J. S. Myrick, treasurer of the City of Austin. Respectfully, John Hancock, Jas. H. Raymond & Co., J. T. B. Brackenridge, x Geo. W. Brackenridge, A. P. Wooldridge, Lewis Hancock. x Alderman North then presented the following: Office of Board of Public Works, Austin, Tex. Oct. 15, 1890. Honorable City Council, City of Austin, Texas: Gentlemen - The bid of Messrs. John Hancock, Jas. H. Raymond & Co., J. T. Brackenridge, J. Geo. W. Brackenridge, A. P. Wooldridge and Lewis Hancock for $400.000 Austin City water works and electric light bonds at par and accrued interest, having been accepted by the board of public works in open meeting, the board by motion requests that the City Council Confirm and ratify the Sale of Said bonds and order Said bonds to be delivered. John McDonald President. Attest: W. J. Oliphant, Secretary. Alderman North then presented an Ordinance entitled "An Ordinance to authorize the delivery of the water works and electric light bonds of the City of Austin to the amount of Four Hundred Thousand dollars, heretofore issued by the City." It was read first time after which a motion was made to suspend the rules and place it on its second reading which was adopted by the following Vote - Yeas Aldermen Anderson, Assmann, Carleton, Graham, Hume, Jackson, Jones, Linn, Morris, Newton, Nitschke, North, Phillips, Schuber, Townsend, Wingfield -16. The Ordinance was then read a second time after which a motion was made to suspend the rules and place the Ordinance on its third reading which was adopted by the following Vote - Yeas Aldermen Anderson, Assmann, Carlesen, Graham, Hume, Jackson, Jones, Linn, Morris, Newton, Nitschke, North, Phillips, Schuber, --- Page break --- Townsend, Wingfield - 16. The ordinance was then read a third time and on motion was passed by the foregoing Vote - Yeas - Aldermen Anderson, Assmann, Carleton, Graham, Hume, Jackson, Jones, Linn, Morris, Newton, Nitschke, North, Phillips, Schrsen, Townsend, Wingfield - 16. Alderman North presented the official bond of J.S. Myrick, city treasurer, in the sum of $100.000 for the faithful performance of all his duties as city treasurer with reference to the water and light fund etc Alderman Morris moved that the Sureties be accepted and that the bond be approved. The motion was adopted. The Council then adjourned Miston Morris, City Clerk.