Austin Bond Exchange and Interest Payments 1906
• Bond Refinancing Deal: The city council approved the exchange of $370,000 in water and light bonds for refunding bonds, allocating $800 to cover interest adjustments on the transaction.
• Interest Payment Appropriations: Council budgeted $250 to pay accrued interest on city bonds as part of ongoing financial obligations.
• Previous Ordinance Repealed: An earlier ordinance from September 26, 1906 that appropriated money for bond interest payments was repealed and any related checks were canceled.
• Legal Cases Dismissed: The city attorney was authorized to dismiss pending appeals in the Court of Civil Appeals under certain conditions.
Full Transcript
589 Called meeting of the City Council Austin, Texas, October 10, 1906. Hon W. D. Shelley, Mayor, presiding Roll Called Present Aldermen Crooken, Eunea, Haynes, Miller, Moore, Petri, Powell, Redd, Scott, Smith, Von Rosenburg, and Wilhem Absent Aldermen Armstrong & Machin. The following Call of the Council was read Austin, Texas, October 10. 1906 To the members of the City Council of the City of Austin Gentlemen: There is hereby a special meeting of the City Council of the City of Austin Called to meet in the temporary Council Chamber of the City at 4 o'clock P.M. October 10th 1906, for the purpose of taking such action, passing such ordinances and resolutions as may be necessary or required to carry out the terms of an ordinance heretofore passed by the City Council, authorizing and directing the exchange of certain refunding bonds of the City of Austin for water and light bonds of said City, and to do all things that may be necessary in the matter. Yours Truly W. D. Shelley, Mayor Jno. B. Smith Henry Petri E. Von Rosenburg C. W. Moore Austin Texas Oct 10th 1906 I hereby certify that I have served the above Call by reading same to each of the following named Aldermen to wit: W. O. Willen, W. B. Redd, E. M. Powell, A. E. Eunea, E. Van Rosenburg, D. W. Crooken, Jno Machin, G. Armstrong, C. J. Wilhem, Henry Petri, H. L. Haynes, R. A. Scott, J. B. Smith and C. W. Moore W. I. Morris City Marshal Ordinance By Alderman Haynes, an ordinance To repeal an repealing ordinance entitled: "An ordinance appropriating Money to repay Int due Oct 7.06 on $320.500 "Water" and light bonds" approved Sept 26, 1906, and to cancel any warrants drawn in virtue thereof. The ordinance was read the first time and passed under suspension of the rules by the following vote: Yeas Aldermen Crooken, Eunea, Haynes, Miller, Moore, Petri, Powell, Redd, Scott, Smith, Von Rosenburg, Wilhem. Nays None. 12
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590 $800.00 to pay interest. By Alderman Haynes an ordinance appropriating the sum of $800.00 for the purpose of paying the adjustment of accrued interest or exchange of Three hundred & seventy thousand Dollars ($370,000) Eight Bonds for three hundred & seventy thousand, dollars of Refunding bonds of the City of Austin The ordinance was read the first time and passed Under suspension of the rules by the following Vote Yeas Aldermen Brooker, Duncass, Haynes, Reed, Moore Petri Powell, Read, Scott, Smith, Von Rosenburg, & Wilhelm. 12 Nays None $250. to pay interest By Alderman Haynes an ordinance appropriating on bonds. the sum of $250. to pay interest on bonds. The ordinance was read the first time and passed under suspension of the rules by the following VoteYeas Aldermen Brooker, Duncass, Haynes, Miller, Moore Petri Powell, Reed, Scott, Smith, Von Rosenburg, & Wilhelm. 12 Nays none Resolution City Atty By Alderman Haynes, resolution authorizing and directing to dismiss appeals the City Attorney to dismiss appeals of the City of Austin in Certain Cases. in Certain Cases pending in the Court of Civil Appeals for the Third Supreme Judicial District of Texas, upon Certain Conditions - The resolution was read and adopted. On Motion the Council adjourned. Jas. P. Judson City Clerke