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<br />I <br /> <br />I <br />It <br /> <br />I <br /> <br />for the purpose of paying the cost of constructing street improve- <br />ments, including the purchase of right-of-way, and all necessary <br />expenses in connection therewith, for U. S. Highway No. 81, within <br />said City; <br /> <br />THEREFORE, BE IT RESOLVED .ANDORDEREDBY THE CITY COUNCIL OF <br />THE CITY OF SAN MARCOS, TEXAS: <br /> <br />SECTION 1: That an election be held in the City of San <br />Marcos, Texas, on the 20th day of July, 1955, which date is <br />not less than fifteen (15) nor more than thirty (30) days from <br />the date of this resolution and order, at which election the <br />following proposition shall be submitted to the resident qualified <br />property taxpaying voters' of said City, who own taxable property <br />in the City and who have duly rendered the same for taxation, for <br />their action thereupon: <br /> <br />PROPOSITION <br /> <br />Shall the City Council of the City of San Marcos, <br />Texas, be authorized to issue the bonds of said City, <br />in the sum of $350,OOO~OO, payable serially not to <br />exceed thirty (30) years from their date, bearing inter- <br />est at a rate not to exceed three and one-half (3-1/2%) <br />per cent per annum, and to levy a tax sufficient to pay <br />the interest on said bonds and create a sinking fund <br />sufficient to redeem them at maturity, for the purpose <br />of paying the cost of constructing street improvements, <br />including the purchase of right-of-way, and all necessary <br />expenses in connection therewith, for U. S. Highway No. <br />81, within said City, as authorized by the Constitution <br />and Laws of the State of Texas? <br />