07211955 Regular Meeting - Laserfiche WebLink

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PROPOSITION I Shall the City Council of the City of San Marcos, Texas, be authorized to issue the bonds of said City, in the sum of $350,000.00, payable serially not to exceed thirty (30) years from their date, bearing interest at a rate not to exceed three and one-half (3-1/2%) per cent per annum, and to levy a tax sufficient to pay the interest on said bonds and create a sinking fund sufficient to redeem them at maturity, for the purpose of paying the cost of constructing street improvements, including the purchase of right-of-way, and all necessary expenses in connection therewith, for U. S. Highway No. 81, within said City, as authorized by the Constitution and Laws of the State of Texas? I AND WHEREAS, upon consideration of the returns of said election, it appears that same was in all respects legally held, after due notice had been given, and that the said returns were duly and legally made, and that there were cast at said election 560 valid and legal votes, of Which number there were cast: FOR THE ISSUANCE OF THE BONDS AND THE LEVYING OF THE TAX IN PAYMENT THEREOF......... AGAINST THE ISSUANCE OF THE BONDS AND THE LEVYING OF THE TAX IN PAYMENT THEREOF......... 407 VOTES 153 VOTES BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: . That said election was duly called; that notice was given in accordance with law and in accordance with the order calling the election; that the election was held in accordance with law; that due return of said election has been made by the proper officers; that said election has resulted favorably to the isxuance of said bonds; and that a majority of the resident qualified property taxpaying voters, who.oWned taxable property in said City, and who had duly rendered the same for taxation, voting at said election, voted in favor of the issuance of said bonds.