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HomeMy WebLinkAbout04-26-1937 Regular MeetingS TSTE OF ALABAMA . BALDWIN COUNTY. The Town Council of the Town of Fairhope, County of Baldwin, Alabama, met in regular session at the Town Hall at 7:30 o'clock P�M. on the 26th day of April, 19379 when and where the following members were present, to -wit: Howard Ruge, Mayor: 11. 0. Berglin, Sam Dyson C . A. Gaston J. 0. Stimpson and H. P. Kamper the same constituting the full membership of the Town Council. The following Resolution , "A RESOLUTION TO AUTHORIZ S THE BORROWING OF $3500.00 BY THE TOWN OF FAIRHOPE FROM THE FAIRHOPE SINGLE TAX CORPORATION; PERSCRIBING THE TERMS OF THE SAID LOAN; AUTHORIZING THE EXECUTION AND DELIVERY OF THE' NECES - SARY PAPERS EVIDENCING THE' SAID LOAN AND SECURING THE SAME." was introduced by C. A. Gaston, read in'fizll by the Clerk and considered by the Council, said Resolution being as: follows: BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF FAIRHOPE AS FOLLOWS: Section 1. That the Mayor and Clerk be and they are hereby authorized to borrow from the Fairhope Single Tax Cor - poration the sum of $ 3500.00, repayable one year from date, with interest at the rate of 5% per a:nnum, the same to be evidenced by seven (7) promissory notes, each in the sum of $500.009 and to authorize the execution and delivery to the said Fairhope Single Tax Corporation, a= corporation, of a mortgage securing the afore - said loan,, conveying the Faarhope Municipal t:?harf situated on Fairhope Avenue and extending West into Mobile Bay approximately 1800 feet; and the said Mayor and Clerk are authorized and directed to exectLte and deliver to the Fairhope: Single Tax Corporation notes executed by them in the name of the Town of Fairhope, seffen in num- ber, each in the sum of $500.000, payable on or before one year from date, with interest at the rate of 5% per annum. _Section 2. That the notes authorized to be executed and delivered under this ordinance shall be substantially in the form of the usual Bank Note, and that the mortgage authorized to be exe- cuted and delivered hereunder shall be substantially the following form: STATE OF ALABAMA BALDWIN COUNTY. KNOW ALL MEN BY THESE PRESENT, that the TOWN OF FAIRHOPE, acting by and through Howard Ruge, Mayor and George W. Morgan, Clerk,, being thereunto duly authorized by resolution of the Town Gouncil of the Town of Fairhope passed and entered on the minutes of the meeting of the said Town Gouncil as of the 26th day of April, 1937, in consideration of the sum of THIRTY FIVE HUNDRED DOLLARS ( $ 3500.00 ) to it in hang paid by the FAIRHOPE SINGLE TAX CORPORATION,a corporation, receipt of which is hereby acknowledged, does hereby GRANT, BARGAIN, SELL and CONVAY unto the Said FAIRHOPE SINGLE TAX CORPORATION allof the following described property situated in the County of Baldwin, State of Alabama, to - wit: -2- The Fairhope Muncipal Wharf situated at the foot of Fairhope Avenue and extending Test into Mobile Bay approximately 1800 feet; TO HAVE AND TO HOLD unto the FAIRHOPE SINGLE TAX CORPORATION, ITS SUCCESSORS AND ASSIGNS, FOREVER. The said Town of Fairhope does hereby covenant and warrant with the Fairhope Single Tax Corporation that it is the owner of said property: that said property is free and clear of encumbrances and that it has a right to sell and convey the same as aforesaid. PROVIDED ALWAYS, and these presents are upon the express condition that if the Town of Fairhope shall well and truly pay to the said Fairhope Sin le Tax Corporation the sum of Thirty five hundred Dollars N3500.00), with interest thereon from date at the rate of five per cent. (5%) per annum, as the same is evidenced due and payable by these certain sevenz roiniseory notes, each in the sum of Five Hundred Dollars $500.00 ), executed by the Town of Fairhope to the Fairhope Single tax Corporation., payable on or before one (1) year from date, then these presents shall cease, determine and be void, otherwise to remain in full force and effect. In the event of default in the payment of said notes, or any one of them., or interest thereon, as the same shall be - come due, the said Fairhope Single Tax Corporation may, at its election, sell the aforesaid property at public outcry, for cash, dunning the legal hours of sale:, to the highest bidder, in front of the court house door of Baldwin County , Alabama, after giving notice of the time, placeand terms of sale, by publication once a week for three (3) consecutive weeks, in any newspaper published in Baldwin County, Alabama,, and the proceeds to apply first, to the cost of sale, including a reasonable attorney's fee, then to the indebtedness hereby secured, and any balance to pay over to the said Town of Fairhope. The sd,�d Fairhope Single. Tax Corporation, its agent or attorney, is authorized to conduct any sale hereunder and make conveyance to the purchaser in the name of the Town of Fair - hope- as its attorney in fact. Said Fairhope Single Tax Corporation may bid and purchase at any sale held hereunder as though a stranger to this instrument. It shall not be required that the property above de - scribed shall be at the place of sale. IN WITNESS WHEREOF, the said TOWN OF FAIRHOPE has caused these presents to be executed in its mains by Howard Ruge, its Ma.yor,: attested by George W. Morgan, its Clerk, and its corporate seal to be affixed, on this the day of 1937. -_— TOWN OF FAIRHOl'E, By is Mayor STATE OF ALAI * BALDWIN COUZny. I,� , a Notary Public in and for said Co in said State, hereby certify that Howard Ruge and George W. Morgan, whose mlames as Mayor and Clerk, respective- ly, of the Town of Fairhope, a municipal corporation, are signed to the foregoing conveyance, and who are known to me, ackno l&vdd-1. J 7b -3- before me on this day, that, being informed of the contents of the conveyance, they, as such officers and with full authority, executed the same for and as the act of said corporat'on. Given under m hand and seal this th y , s e _�_ day of 1937. r Notary Public, Baldwin County Alabama. It was moved by Council M. 0. Berglin and seconded by H. r. Kamper that all rulbssof the Town Council of the Town of Fiirhope, Alabama, which might prevent, unless suspended, the final padsage and adoption of said ordinance at this meeting, be and the same is hereby suspended for the purpose of per - mitting the final passage and adoition of said ordinance at this meeting. The 4uestion being put upon the adoption of said motion andtthe suspension of such rules, the roll was called with the follwing results; AYES: M. 0. Berglin, Sam Dyson, C. A. Gaston, H. e. Kamper` and J. 0. Stimpson. a Nays: None. The Mayor declared said motion carried and such rules sus - pended. Councilman M. 0. Berglin then moved that said Resolution he now placed upon its final passage. Councilman J. 0. Stimpson seconded the motion. The question bring put upon the placing of said ordinance upon its final passage, the roll was called with the following re - sults: Ayes : M. 0. Berglin, Sam Dyson, C. A. Gaston, H. Yo Kamper and J. 0. Stimpson. Nays '. 1VoY� e . The Mayor declared the motion carried. Councilman C. A. Gaston thereupon moved that the ordinance be finally passed and adopted as introduced and read. Councilman Sam Dyson 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; M. 0. Berglin, Sam Dyson, C. A. Gaston, H. r. Kamper and J. 0. Stimpson. Nays. None. The Mayor thereupon declared said motion carried and the resolution finally passed and adopted. The Mayor thereupon signed said ordinance in approval thereof. Meeting adjourned. Mayor 14 iril' 0 N Seal