08171955 Regular Meeting - Laserfiche WebLink

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I I I I I ' If " WHEREAS, the City COuncil of the City of San fllarcos" Texas, deems it advisable and necessary to construct fire stations in said City and to purchase fire equipment for the City; and, WHEREAS, the City Council deems it advisable, and necessary to issue interest bearing time warrants of said City for the pur- pose of evidencing the indebtedness of the City of San Marcos to be incurred in constructing fire stations and purchasing sites therefor in said City, including architect's fee in connection therewith, and purchasing fire equipment for said City; such warrants to be payable from an ad valorem tax upon all taxable 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: That the fllayor 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 mturity 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 war- rants to be issued for the purpose of eVidencing the indebtedness of the City of San Marcos to be incurred in constructing fire stations and purchasing sites therefor in said City, including architect's fee, in connection therewith, and purchasing fire equipment for said City.