07211955 Regular Meeting - Laserfiche WebLink

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I RESOLUTION AUTHORIZING THE MAYOR TO PUBLISH NOTICE OF INTENTION TO ISSUE NOT EXCEEDING $85,000.00 FIRE STATION AND EQUIPMENT WARRANTS WHEREAS, the City Council of the City of San Marcos, Texas, deems it advisable and necessary to construct a fire station in said City and to purchase fire equipment for said City; and WHEREAS, the City Council deems it advisable and necessary to issue interest bearing time warrants of said City for the purpose of evidencing the indebtedness of the City of San Marcos to be incurred in constructing such fire station and purchasing a site therefor in said City, including architect's fee in connec- tion therewith, and purchasing fire equipment for san City; such warrants to be payable from an ad valorem tax upon all taxable I property in said City; and, WHEREAS, it is proper and necessary that the City Council give notice of its intention to issue such interest bearing time warrants; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: I That the Mayor be, and he is hereby authorized, ordered and instructed to do all things necessary and/or convenient to have published the notice required by Chapter 163, Acts of the Regular Session of the Forty-second Legislature of Texas, as amended; that said notice shall signify the intention of the City Council of said City to issue not exceeding $85,000.00 interest bearing time warrants, to mature serially, the maximum maturity of which shall be not later than twenty-five (25) years from their date, to bear interest at a rate not to exceed three and one-half (3-1/2%) per cent per annum, and to be payable out of an ad valorem tax to be levied against the taxable property in said City, such time warrants to be issued for tbepurpose of evidencing