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HomeMy WebLinkAbout02-15-1935 Special MeetingI STATE OF AIABAMA. COUNTY OF BALDWIN. The Town Council of the Town of Fairhope, in the County of Baldwin, Alabama, met in special session at the Town Hall at 7 o t clock P. M., on the 15th day of February, 1935, when and where the following members were present, to -wit: Howard Ruge, Mayor; C. A. Gaston, W. 0. Keeble, T. T. Klumpp, J. 0. Stimpson and M. 0. Berglin, Councilmen, the same constituting the full membership of the Town Council. The said meeting having been specially called for the purr - pose of designating a custodian for the street improvement funds un- der PWA Docket No. 5162, and each of the members of the Council hav- ing waived notice of the said meeting, which said waiver is in words and figures as follows: "We, the undersigned members of the Town Council of the Town of Fairhope, Alabama, hereby waive notice of the calling of a special meeting for the purpose of designating a custod- ian for the street improvement funds under PWA Docket No. 5162, and do consent that said meeting for said purpose be held at the Town Hall in the Town of Fairhope, Alabama, at' 7 otclock P. M. February 15 " the following business was transact : The following ordinance No. 129 and entitled: "AN ORDINANCE TO SELECT AND DESIGNATE A CUSTODIAN FOR THE MONEYS TO BE BORROV= FROM THE UNITED STATES GOVERN- MENT FOR STREET IMPROVEREffTS IN THE TOWN OF FAIFHOPF, ALABAMA , UNDER LOAN AND GRANT AGREEMENT BETWEEN . THE SAID T017N OF FAIRHOPE AND THE UNITED STATES GOVERNMENT, PWA. DOCKET NO. 5162" was introduced by , read in full by the Clerk and considered by the Council, said ordinance being as follows: ?7 "ORDINANCE NO. 129. 'AN ORDINANCE TO SELECT AND DESIGNATE A CUSTODIAN FOR THE MONEYS TO BE BORROWED FROM THE UNITED STATES GOV=nWT FOR STREET IMPROVEMENTa IN THE TOWN OF FAIRHOPE, ALABAMA, UNDER LOAN AND GRANT AGR=TT BEMIEEN THE SAID TO'VJN OF FAIRHOPE AND THE UNITED STATES GOVERn=, M DOCKET NO: 5162." BE IT ORDAINED BY THE TOWN COUNCIL OF THE TO1VN OF FAIRHOPE, ALABAMA$ AS FOLLOWS: Section 1. That the First National Bank of Mobile, Mobile, Alabama, s banking corporation doing a banking business in the State of Alabama, and being a member of the Federal Reserve System and also a member of the Federal Deposit Insurance Corporation, and having consented in writing to accept the same, is hereby selected,;:: des— ignated and constituted custodian of any and all funds received from the sale of bonds to the United States Government under the aforesaid Loan and Grant Agreement% and all moneys received as a grant under said Loan a3j�rant Agreement, and as well all moneys hereafter collected to pay interest on and retire the said bonds, and the said custodian of the said funds is authorized and directed to deposit all interest which shall be received from the sale of said bonds in a fund to be known as the "Bond Fund", and as well to deposit any and all moneys hereafter collected for the purpose -of paying r interest and principal on the said bonds in the said fund, and also to deposit all of the principal of the said bonds in a fund to be known as the "Construction Account". Section 2. This ordinance shall be in effect upon its passage and approval. Section S. This ordinance shall be posted at places, in the manner and for the time provided by law. Duly adopted by the Town Council of the Town of Fairhope, Alabama, at a meeting thereof specially held on the 15th day of February, 1935. ATTEST: As Mayor of the Toidi of Fairhope!. Alabama. s Clerk/of the Town of Fairhope , Alabama. -2- It was moved by �, cf,���,v� and seconded by that all rules of the Town Council of t'.e Town of Fairhope, Alabama, which might prevent, unless suspended, final passage and adoption of this ordinance, be and the same are hereby suspended for the purpose of permitting the final passage and adoption of said ordinance at this meeting. The question being upon the adoption of said motion and the suspension of such rules, the roll was called with the follow- ing results: AYES: Howard Ruge, Mayor; C. A. Gaston, W. 0. Keeble, T. T. Klumpp, T. 0. Stimpson and M. 0. Berglin, Councilmen. NAYS: None. The mayor declared said motion carried and such rules sus- pended. Councilman then moved that said ordinance be placed upon its final passage. Councilman seconded the motion. he :question being put upon the placing of said ordinance upon its final passage, the roll was called with the followiW re - suite: AYES: Howard Ruge, Mayor; C. A. Gaston, W. 0. Keeble, T. T. Klumpp, T. 0. Stimpson and M. 0. Berglin, Councilmen. NAYS: None. The mayor declared the motion carried. Councilman �1 LMz-:;L thereupon moved that the said ordinance be finally passeq and adopted as introduced. Councilman L_ a seconded the motion. The question being put upon the final passage and adoption of said ordinance, the roll was called with the following results: AYES: Howard Ruge, Mayor; C. A. Gaston, W 0. Keeble, T. T. Klumpp, J. 0. Stimpson and M. 0. Berglin, Councilmen. NAYS: None. The mayor thereupon declared said motion carried and th 9s -3- ordinance finally passed and adopted. The mayor thereupon signed said ordinance in approval thereof . It was moved by Councilman and sec- onded by Councilman that the meeting adjourn. Motion carried. Mayor. ATTEST: Clerk. We, the undersigned members of the Town Council of the Town of Fairhope, Alabama, hereby waive notice of the calling of a special meeting for the purpose of designating a custodian for the street improvement funds under RIA Docket No. 5162, and do con- sent that said meeting for said purpose�be held at the Town Hall in the Town of Fairhope, Alabam . at 7 o* clock P. M. February 15, 1935. i 93