Austin Refinances Debt, Curbs Jitneys
Major Debt Refinancing:
Approved the sale of $1.17 million in refunding bonds with a 4.75% interest rate and a $6,000 premium, strategically waiving future claims on the Water, Light, and Power Department's earnings.Early Taxi Regulation:
Passed a new ordinance to regulate "automobiles for hire" and revoked multiple licenses for "Jitneys" (early shared-ride taxi services), signaling stricter control over private transportation.Infrastructure Investment:
Allocated funds for a new concrete arch bridge over Bulum Creek on Riverside Drive ($3,000) and approved the construction of new sewer lines in various city locations.
Full Transcript
544 .Regular meeting of the City Council: Austin, Texas, June 22, 1916: The Council was called to order by the Mayor: Roll called: Present Mayor Wooldridge, Councilmen Bartholomew, Haynes & Powell 4 Absent Councilman Anthony 1 The minutes of the Council of June 15th, 17th & 20th, 1916, were read and adopted: Be as read but not yet
June 26th 1916: The Council was called to order by the Mayor, with all present, except Councilman Anthony:
Mayor Wooldridge offered the following resolution : Be it resolved by the City Council of the City of Austin, Texas : That the action of the City Council heretofore in adopting the minutes of its regular meeting on June 15th 1916, be and the same is hereby rescinded, and the Asst City Clerk is authorized and instructed to insert in the minutes of said meeting the following and that upon said insertion in said minutes, same shall be approved and adopted : Mayor Wooldridge called up the resolution introduced at the last reg-ular meeting , June 8th 1915, of the City Council, accepting the proposals bearing date May 29th, 1916, and June 2, 1916, and signed by Belger, Messer and Williman by T J Grace ,their agent, concerning the purchase of $ 1,170,000.00 of Austin Refunding bonds, which resolution has heretofore been spread at length on the minutes of this meeting. The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Anthony & Powell 3 Nay Councilman Haynes 1 Absent Councilman Bartholomew 1 Mayor Wooldridge offered the following resolution : Be it resolved by the City Council of the City of Austin, Texas : Resolution rescinded & repassed Bonds That the action of the City Council heretofore in adopting the minutes of its regular meeting on June 8th, 1916, be and the same is hereby rescinded, and the
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545 . Asst City Clerk is authorized and instructed to insert in the minutes of said meeting the following, and that upon said insertion in said minutes, same shall be approved and adopted: "Mayor Weilder idge laid before the Council the following resolution : Resolved by the City Council of the City of Austin, Texas : That the agreement set out in the document written below and bearing date May 29th 1916, and signed by Belger ,Messer and Willaman by T J Grace, their agent,and the supplemen-tal agreement thereto likewise written below and bearing date June 2, 1916,both of which documents are made a part hereof,be and the same are hereby accepted,agreed to, and ratified and approved as an act of the City Council of the City of Austin, Texas: " Austin, Texas, May 19th 1916. We hereby agree to purchase $ 1,170,000.00 of Austin refunding bonds now bearing four per centum (4%) interest,dated July 1st 1916,and due at thirty (30) years ,for the price of four and three fourths per centum (4 3/4) interest at par,plus a premium of six thousand dollars( $ 6,000.00) upon the amount of par of these bonds . These bonds are to be made serial and payable at the rate of forty thousand dollars Sale Refunding Bonds. ( $ 40,000.00) per year .We agree to pay all expenses of printing these bonds and expressing same both ways ,to and from Austin, Texas. We agree also,to pay for the opinion of the Attorney who is to pass upon the validity of these bonds,and any and all other expenses incident to the refunding and exchange of these bonds. We, also, agree to waive for the new bonds we are to purchase ,all lien upon the net proceeds of the Water, Light and Power Department of the City of Austin, Texas,for the payment of said new bonds.
We, also, here deposite with the Mayor of the City of Austin to carry out the provis-ions of this bid a Cashier's check in the amount of twenty three thousand ,four hundred dollars ($ 23,400.00) issued by the American National Bank of Austin, Texas. (Sgd) Belger, Messer & Willaman. By (Sgd) T J Grace, Agent." " Austin, Texas ,June 2nd 1916.
Hon Mayor and Councilmen, Austin, Texas.
Gentlemen: We agree to purchase a proposed issue of $1,170,000.00Refunding bonds of the City of Austin, Texas, to be dated July 1, 1916; to mature $ 39,000 each year from July 1st 1917, to July 1st, 1946 , inclusive ,denomination $ 1,000.00 bearing interest at the rate of 4 3/4 % ,both principal and semi-annual interest pay able at the National City Bank ,New York City, at par ($ 1,170,000) accrued interest from date of bonds to date of delivery ,and in addition thereto ,we agree to pay a premium of $ 6,000.00.We further agree to furnish blank bonds for signatures of proper Officials free of charge ,and to pay the cost of assuring the opinion of our Attorneys on the legality of the issue . Prior to the delivery of the bonds to us in Chicago ,we are to be furnished with certified copies of all necessary papers to secure the unqualified approving opinion of our Attorney ,Chas B Weed. You agree to publish,in accordance with the law ,legal notice of the call for payment of these bonds on or before July 1st ,1916, at the National City Bank, New York City,and we agree to deposite the necessary funds in said bank to take up and pay for such of said bonds at par as may be presented on July 1st,1916, and carry same for the City at the rate of
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546
5% interest until such reasonable time as the new refunding issue can be registered by the State Comptroller and exchanged for this proposed issue of refunding bonds dated July 1st, 1916, and you are to allow us 5% interest on all bonds presented in New York after July 1, 1916, while in transit to Austin .You agree to make all possible efforts to have this old issue of refunding bonds dated July 1st, 1901, at the National City Bank, New York City .
The premium offered herein above is to paid by us prorata as the new issue of refunding bonds is delivered to us and we are to pay the necessary expenses of delivery of said bonds to us in Chicago.
As evidence of good faith on our part that we will carry out the terms of this bid, we hand you herewith Cashier's check on the American National Bank, Austin, Texas, for $ 23,400.00), this check to be returned to us should we not be able to secure the approving opinion on this bond issue of our Attorney, Chas B Weed. Submitted Bolger, Messar & Willeman By (Sgd) T J Grace, Agent. The above resolution was read for the first time and laid over for one week June 22nd 1916: All members present except, Councilman Anthony:
Councilman Powell offered the following resolution : Resolved by the City Council of the City of Austin, Texas : That the sum of three thousand dollars ($ 3,000.00) be and the same is hereby appropriated out of the Permanent Street Improvement fund to pay for the construction of a concrete arch bridge acres Bulum creek on Riverside drive Bridge Bulum Creek The resolution was adopted by the following vote : Yeas Mayor Wooldridge, Councilmen Bartholomew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A P Wooldridge, Mayor: Mayor Wooldridge offered the following resolution : Resolved by the City Council of the City of Austin, Texas : That the sum of $24.85, be and the same is hereby appropriated out of the General Contingent fund of the City of Austin, Texas, as a refund to Mrs Rees Cunes for taxes paid on her overassessment of property for the year 1915 Mrs R Cunes Paid 1915. The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Bartholomew, Haynes & Powell 4 Absent Councilman Anthony 1 Councilman Powell offered the following resolution : Be it resolved by the City Council of the City of Austin, Texas : Extra Book-keeper P. St Dept That the sum of six hundred and thirty ($630.00) dollars be and the same is hereby appropriated out of the Permanent Street Improvement fund to pay the salary of one extra Book-keeper at one hundred ($100.00) dollars per month until December 31st 1916. The resolution was adopted by the following vote :
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Yeas Mayor Wooldridge, Councilmen Barthelemew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A P Wooldridge, Mayor: Councilman Powell offered the following resolution : Resolved by the City Council of the City of Austin, Texas : Sewer That the sum of one hundred ($100.00) dollars,be and the same is hereby appropriated Rio Grande St. out of the Sanitary Sewer fund for the purpose of constructing a six(6)inch sewer line on Rio Grande street north from 28th street a distance of two hundrde feet (200')"
The resolution was adopted by the following vote : Yeas Mayor Wooldridge, Councilmen Barthelemew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A P Wooldridge, Mayor: Councilman Powell offered the following resolution: Be it resolved by the City Council of the City of Austin, Texas : Sewer line That the sum of three hundred ($300.00) dollars,be and the same is hereby appropriated So Austin out of the Sanitary Sewer fund for the construction of a six inch (6") sewer line beginning at the south line of the Boys Scouts property north of south side drive , thence southward across private property to south side drive, thence eastward on south dide drive to Downing Avenue and on Downing Avenue to a point two hundredfett (200')north of south side drive , a total distance of six hundred feet (600')"
The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Barthelemew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A P Wooldridge, Mayor: Councilman Powell offered the following resolution : Be it resolved by the City Council of the City of Austin, Texas : That the sum of twenty six dollars and eighty cents ($ 26.80) ,be and the same is hereby ordered transfered from the Sanitary Sewer Earnings Fund to the Sanitary Sewer Fund to Transfer funds. re-imburse the latter fund on account of pay roll erroneously paid out of the Sanitary Sewer Fund.
The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Barthelemew, Haynes & Powell 4 Absent Councilman Anthony 1
By Mayor Wooldridge, An ordinance regulating operators and Drivers of Automobiles for Drivers hire ,and providing a penalty for the violation thereof: Automobiles The ordinance was read the first time and passed under suspension of the rules by the following vote: Yeas Mayor Wooldridge, Councilmen Barthelemew, Haynes & Powell 4 Absent Councilman Anthony 1 The Mayor laid before the Council the following resolution June 24th 1916: Be it resolved by the City Council of the City of Austin: That the licenses, numbered one & two respectively, to operate Jitneys, heretofore issued to Geo Fiegel, by the City Assessor & Collector of taxes, and severing autimobiled numbered 309 and 143, respectively, be and the same are hereby cancelled and revoked, and the City Assessor & Collector is hereby instructed to revoke said licenses upon his records: The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Barthelemew & Haynes 3
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548
Absent Councilmen Anthony & Powell 2 Approved, A P Wooldridge, Mayor:
The Mayor laid before the Council the following resolution: Be it resolved by the City Council of the City of Austin: That the license, numbered three, to operate a Jitney, heretofore issued to Roy Hough, by the City Assesser & Collector of taxes, and covering automobile numbered 2492; be and the same is hereby cancelled and revoked, and the City Assessor & Collector is hereby instructed to revoke said license upon his records. Roy Hough Jitney license
The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Bartholomew & Haynes 3 Absent Councilmen Anthony & Powell 2 Approved, A P Wooldridge, Mayor:
The Mayor laid before the Council the following resolution: Be it resolved by the City Council of the City of Austin: That the licenses, numbered seven & eight, respectively, to operate Jitneys, heretofore issued to W B Calloway, by the City Assesser & Collector of taxes, and covering automobiles numbered 2892 and 2893, respectively, be and the same are hereby cancelled and revoked, and the City Assessor & Collector is hereby instructed to revoke said licenses upon his record. W B Calloway Jitney license
The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Bartholomew & Haynes 3 Absent Councilmen Anthony & Powell 2 Approved, A P Wooldridge, Mayor:
The Mayor laid before the Council the following resolution: Be it resolved by the City Council of the City of Austin: That the license, numbered nine, to operate a Jitney, heretofore issued to John Wallace, by the City Assessor & Collector of taxes, and covering automo-bile numbered 2809; be and the same is hereby cancelled and revoked, and the City Assessor & Collector is hereby instructed to revoke said license upon his records. Jno Wallace Jitney license
The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Abertelebow & Hyanes 3 Absent Councilmen Anthony & Powell 2 Approved, A P Wooldridge, Mayor:
COUNCILMEN The Mayor laid before the Council the following resolution: Resolved by the City Council of the City of Austin, Texas: That for good and sufficient causes unto the City Council shown, the balance of the fine & Costs ,amounting to $ 11.80, in the case of the State of Texas vs Joseph Houston, in cause No 18696, in the Corporation Court of the City of Austin Texas, be and the same is hereby remitted: Jos Houston fine The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Bartholomew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A P Wooldridge, Mayor:
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549 a Torre fine The Mayor laid before the Council the following resolution: Resolved by the City Council of the City of Austin, Texas: That for good and sufficient reasons unto the City Council shown, the balance of the fine and costs, amounting to $ 11.80, in the case of the State of Texas vs Alfonse Teresoause No 18695, in the Corporation Court of the City of Austin, Texas, be and the same is hereby remitted. The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Bartholomew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A. P. Wooldridge, Mayor:
geo moore fine The Mayor laid before the Council the following resolution: Resolved by the City Council of the City of Austin, Texas: That for good and sufficient causes unto the City Council shown, the balance of the fine and costs, amounting to $ 11.80, in cause No-18697, State of Texas vs Y W Moore, in the Corporation Court of the City of Austin, Texas, be and the same is hereby remitted: The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Bartholomew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A. P. Wooldridge, Mayor:
Andrew Borne fine The Mayor laid before the Council the following resolution: Resolved by the City Council of the City of Austin, Texas: That for good and sufficient causes unto the City Council shown, the balance of the fine and costs, amounting to $ 11.80, in cause No 18698, State of Texas vs Andrew Borne, in the Corporation Court of the City of Austin, Texas, for unlawfully riding a train, be and the same is hereby remitted: The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Bartholomew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A. P. Wooldridge, Mayor:
E. Bailey fine The Mayor laid before the Council the following resolution: Resolved by the City Council of the City of Austin, Texas: That for good and sufficient causes unto the City Council shown, the balance of the fine and costs, amounting to $ 18.80, in cause No 18694, State of Texas vs Elijah Bailey, in the Corporation Court of the City of Austin, Texas, for unlawfully riding a train, be and the same is hereby remitted. The resolution was adopted by the following vote: Yeas Mayor Wooldridge, Councilmen Bartholomew, Haynes & Powell 4 Absent Councilman Anthony 1 Approved, A. P. Wooldridge, Mayor:
The Council then adjourned. Acting City Clerk