10131954 Regular Meeting - Laserfiche WebLink

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....... ----,,- - --'--1"- ~------- ......... AYES: Aldermen De Viney Allen Hill Be e croft, 3mi th NOES: None. I The Mayor announced that the ordinance had been finally passed. The ordinance is as follows: AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF SAN V~COS, TEXAS, AUTHORIZING THE ISSUANCE OF BONDS IN THE PRINCIPAL SUN OF ONE HUNDRED THOUSAND ($100,000.00) DOLLARS FOR THE PURPOSE OF PURCHASING AND IMPROVING LANDS FOR PARK PURPOSES FOR SAID CITY, AND PROVIDING FOR THE LEVY, ASSESSI~NT AND COLLECTION OF A TAX ON ALL THE TAXABLE PROPERTY WITHIN THE.LIMITS OF SAID CITY TO PAY THE INTEREST AND CREATE A SINKING FUND FOR THE REDEl\!PTION THEREOF; PRESCRIBING THE FORM OF THE BONDS AND INTEREST COUPONS; CONFIRMING THE SALE OF THE BONDS; AND DECLARING AN ErI\ERGENCY. WHEREAS, the City Council ofothe City of San Marcos, Texas, adopted a resolution and order on August 18, 1954, calling an . election on the question of the issuance of bonds of the City of San 1Ilarcos in the sum of $100,000.00, payable serially not to exceed thirty (30) years from their date, and bearing interest at a rate not to exceed four (4%) per cent per annum, for the purpose of purchasing and improving lands for park purposes for said City; and, WHEREAS, said election was held pursuant to said resolution and order, and in accordance with law, on September 14, 1954, and resulted favorably to the issuance of said bonds; and, WHEREAS, the City Council adopted a resolution on September 15, 1954, canvassing the returns and declaring the result thereof; and, WHEREAS, the City Council of the City of San Marcos now deems it advisable and to the best interest of said City to proceed with the issuance of said bonds; therefore- BE IT ORDAINED BY THE CITY COUNCIL OF TIffi CITY OF SAN ~ffiRCOS, TEXAS: