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Austin Funds: Old Bonds Burn, Treasurer Hired

Thursday, June 4, 1925 regular

Here's a concise look at the Austin City Council's June 04, 1925 agenda:

  • Appointed a new City Treasurer:

    D.B. Gracy was selected for a two-year term, outlining specific financial agreements on interest for city funds and charges for transactions.
  • Burned over $105,500 in city bonds:

    Various bonds, including those for cemeteries, sewers, schools, and street improvements, were formally destroyed by burning at City Hall to retire the debt.
  • Adjusted a 1923 property tax assessment:

    Following an appeal, the council lowered the taxable value for a resident's home that was incomplete when originally assessed.

Full Transcript

Councilman Haynes introduced the following resolution: WHEREAS, Oity of Austin heretofore advertised for bids for the office of City Treasurer, and on May 21st, 1925, all of said bids received in accordance with said advertisement, were opened in the presence of the City Council, and the bid of D. B. Gracy was found to be the best bid for said office, said Gracy agreeing to pay the City for its funds .02,50% on average daily deposits, said interest to be paid monthly by crediting the account of the City to its various funds as the balances may appear during the month, and further, to charge 1/10 of 1% on all amounts remitted in exchange on payments of interest on bonded debt and for bonds of the city and other payments which may be necessary to be made for the City, and further, to charge the City interest at the rate of 6% on account of purchase of City warrants on the several funds where the cash has been exhausted, said warrants so purchased not to exceed the amount of the budget in any fund as made by the City Council; now therefore BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF AUSTIN: That the bid of D. B. Gracy, as aforesaid be and the same is hereby accepted, and the said D. B. Gracy is hereby appointed City Treasurer of the City of Austin for the ensuing period of two years, and as such City Treasurer said D. B. Gracy shall qualify by taking the required oath and making a bond in the amount of $75,000.00, in the terms required by the charter of the City of Austin, said bond to be approved by the Mayor and the Superintendent of Receipts, Disbursements and Accounts. The above resolution was adopted by the following vote: Ayes, Mayor Yett, Councilmen Haynes and Searight, 3; nayes, none, Councilmen Avery and Nolen absent. The Council then adjourned. Homeby beity of REGULAR MEETING OF THE CITY COUNCIL: Austin, Texas, June 4, 1925. The Council was called to order by the Mayor. Roll call showed the following members present: Mayor Yett, Councilmen Avery and Haynes, 3; absent, Councilmen Nolen and Searight, 2. The Minutes of the last meeting were read and Councilman Haynes moved that same be adopted. Motion prevailed by the following vote: Ayee, Mayor Yett, Councilmen Avery and Haynes, 3; nayes, none, Councilmen Nolen and Searight absent. The application of Kuntz-Sternenberg Lumber Company to construct a lumber shed in Block 38, between 4th and 5th Streets on Sabine Street was read and Councilman Avery moved that same be accepted, subject to the approval of the Safety Committee. Motion prevailed by the following vote: Ayes, Mayor Yett, Councilmen Avery and Haynes, 3; nayes, none, Councilmen Nolen and Searight absent. The blue prints of the Southwestern Bell Telephone Company for their proposed extensions were submitted and Councilman Avery moved that same be referred to City Engineer, C. E. Leonard. Motion prevailed by the following vote: Ayes, Mayor Yett, Councilmen Avery and Haynes, 3; nayes, none, Councilmen Nolen and Searight absent. 433 434 Councilman Haynes submitted the names of W. A. Pillow, Simon Gillis and E. J. Barkley as members of the Board of Equalization and confirmation of same was held over until the next regular meeting. The following certificate as to the destruction of bonde was read and ordered recorded: "Austin, Texas, June 4, 1925. THE STATE OF TEXAS I COUNTY OF TRAVIS OITY OF AUSTIN This certifies that the undersigned, all together and in the presence of one another, have this day destroyed, by burning, the following numbered and otherwise described bonds: We destroyed these bonds by burning them in the furnace at the City Hall in the City of Austin, Texas, on this 4th day of June, A. D. 1925: The City of Austin Cemetery Bonds, dated July 1, 1912, numbered 23 and 24 at $1,000.00 each $ 2,000.00 The City of Austin, Sewer Bonds, dated July 1, 1912, numbered 61 to 70, inclusive, $1,000.00 each 10,000.00 The City of Austin Street Improvement Bonds, dated July 1, 1912, numbered 61 to 70, inclusive, $1,000.00 each10,000.00 The City of Austin, School Building Bonde, dated July 1,1915, numbered 41 to 45, inclusive, $1,000.00 each5,000.00 The City of Austin, Sanitary Sewer Bonds, dated July 1,1915, numbered 17 and 18, $1,000.00 each --- 2,000.00 The City of Austin, Street, Bridge and Sewer Bonds, dated July 1, 1915, numbered 96 to 110, inclusive, $1,000.00 each ----- 15,000.00 The City of Austin, Refunding Bonds, dated July 1, 1916, numbered 274 to 312, inclusive, $1,000.00 each39,000.00 The City of Austin, Refunding Bonds, dated January 1, 1917, numbered 71 to 80, inclusive, $1,000.00 each10,000.00 The City of Austin Sewage Disposal Plant Bonds, dated July 1, 1918, numbered 26 to 30, inclusive, $500.00 sach -------- 2,500.00 The City of Austin, School Bond, dated January 1, 1918, numbered 7, $1,000.00 1,000.00 The City of Austin, School Bonds, dated January 1, 1924, numbered 1 to 4, inclusive, $1,000.00 each4,000.00 The City of Austin, Water Filtration Bonds, dated January 1, 1924, numbered 1 to 5, inclusive, $1,000.00 each5.000.00 Total $105,500.00 (Sgd) W. D. Yett, Mayor, 11 H. L. Haynes, Councilman 18 C. N. Avery, Councilman" Councilman Haynes introduced the following resolution: WHEREAS, Frank R. Rundell makes affidavit hereto attached that about the middle of December, 1923, he began construction of a residence on 60x165 feet of Outlot 59, Division "D", facing on 26th Street, the approximate value of which when completed was $5000.00 and that not exceeding one-third of said improvements had been constructed on January 1st, 1923, and he rendered the same at $2000.00 for taxation and that the Board of Equalization after inspecting the improvements in August, 1923, long after completion, fixed the value at $4000.00 for taxation, which is more than two-thirds of the entire cost of the building complete, Therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF AUSTIN: That the Assessor and Collector be and he is hereby instructed to correct : the assessment on his rolle for taxes of 1923 in accordance with the affidavit and take credit for amount of reduction. The above resolution was adopted by the following vote: Ayes, Mayor Yett, Councilmen Avery and Haynes, 3; nayes, none, Councilmen Nolen and Searight absent. The monthly reports of A. S. Anderson, Public Weigher, and Miss Anna R. Fuchs, Municipal Nurse, were read and ordered filed. The Council then recessed. SPECIAL MEETING OF THE CITY COUNCIL: Austin, Texas, June 8, 1925. The Council was called to order by the Mayor. Roll call showed the following members present: Mayor Yett, Councilmen Avery and Haynes, Councilmen Nolen and Searight absent. Councilman Haynes introduced the following resolution: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF AUSTIN: That the Assessor and Collector of Taxes of the City of Austin be and he is hereby authorized, ordered and instructed to receive from Ernest Nalle taxes and interest to date in full settlement and satisfaction of the amount due as taxes by Ernest Nalle to the City of Austin for the years 1922, 1923 and 1924. The above resolution was adopted by the following vote: Ayes, Mayor Yett, Councilmen Avery and Haynes, 3; nayes, none, Councilmen Nolen and Searight absent. The Council then adjourned. Someby REGULAR MEETING OF THE CITY COUNCIL: Austin, Texas, June 11, 1925. The Council was called to order by the Mayor. Roll call showed the following members present: Mayor Yett, Councilmen Avery and Haynes, 3; absent, Councilmen Nolen and Searicht, 2. The Minutes of the last meeting were read and Councilman Haynes moved that same be adopted. Motion prevailed by the following vote: Ayes, Mayor Yett, Councilmen Avery and Haynes, 3; nayes, none, Councilmen Nolen and Searight absent. The monthly reporte of Fred Sterzing, Assessor and Collector, Mrs. E.Schulz, Superintendent of Nurses at City Hospital, and Mrs. F. C. Walker, Pure Food Inspector, were read and ordered filed. The Council then adjourned. 435