08041954 Regular Meeting - Laserfiche WebLink

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Section 1. That the claims hereinabove listed for indebted- I ness incurred in the purchase of automotive equipment and street machinery for said City, in the total amount of $26,661.07, are hereby allowed and declared to be the lawful indebtedness of said City; that said ,claims are legally owned and held by the First National Bank, San Marcos, Texas. Section 2. That to evidence said indebtedness, there shall be executed and delivered to said First National Bank, San Marcos, " Texas, CITY OF SAN l'<1ARCOS AUTOMOTIVE EQUIPMENT AND STREET M!\.CHINERY WARRANTS, dated August 1, 1954, Numbers 10 to 35, inclusive, in the denomination of $1,000 each, aggregating $26,000.00, bearing 3-1/2J& interest per annum, ahd maturing on August 1st, $1,000 in 1966, and $5,000 in each of the years 1967 to 1971, inclusive, authorized by the aforesaid ordinance of June 30, 1954, recorded in BoOk 17, page 244, et seq., Minutes of the City Council. Section 3. That the City of San t1arcos, Texas, has received full value and consideration for said Warrants Nos. 10 to, 35, inclusi ve. Section 4. That the excess of $661.07, as shown by said claims, shall be paid in cash by the City of San Marcos. Section 5. By reason of the fact that the City Go,uncil considers the passage of this ordinance necessary for tile immediate preservation of the public peace, property, health and safety of said City, and of its citizens, it is hereby declared to be an emergency measure demanding that the rule requiring ordinances to be read at more than one meeting of the City Council be suspended, I and that this ordinance take effect immediately ,from and after its passage. PASSED 1954. A~~j C1t~cre ary, ," ..4