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<br />AN ORDINANCE PROVIDIf'Ki FOR THE ISSUANCE OF DISPOSAL PLANT
<br />IMPROVEMENT WARRANTS, 1959, IN THE AMOUNT OF $50,000.00 FOR
<br />THE PURPOSE OF PAYIf'Ki EXPENSES INCIDENT TO THE IMPROVIf'Ki OF
<br />THE DISPOSAL PLANT ; PROVIDIf'Ki FOR A SINKIf'Ki FUND FOR THE
<br />PAYMENT OF THE PRINCIPAL AND INTEREST OF SAID WARRANTS
<br />
<br />WHEREAS, it is necessary in completing the improvements to the
<br />sewage disposal plant to borrow money for the purpose of paying the
<br />expenses incident to the improvements; and
<br />
<br />WHEREAS, it has been ascertained and determined by this Governing
<br />Body that the most practicable and satisfactory method of borrowing
<br />money for the said purpose is to issue time warrants:
<br />
<br />NOlI, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY
<br />OF SAN MARCOS, TEXAS:
<br />
<br />1. That there be borrowed by, for and on behalf of the City of
<br />San Marcos, funds to the maximum extent of $50,000.00, and that to
<br />evidence such indebtedness time warrants of the City be issued.
<br />
<br />2. That such warrants be designated, "CITY OF SAN MARCOS DISPOSAL
<br />PLANT IMPROVEMENT WARRANTS, 1959," be dated April 15, 1959, be fifty
<br />(50) in number, numbered, consecutively, from one (1) to fifty (50),
<br />inclusive, be of the denomination of $1,000.00 each, all of said
<br />warrants to mature on or before April 15, 1964, bearing interest at
<br />the rate of four per cent (4%) per annum from the date of delivery
<br />until paid, said warrants numbers 1 - 5 inclusive, maturing on October
<br />15, 1959, said warrants numbers 6 - 10 inclusive, maturing on April 15,
<br />1960, said warrants 11 - 15 inClusive, maturing on October 15, 1960,
<br />said warrants numbers 16 - 20 inclusive, maturing April 15, 1961, said
<br />warrants numbers 21 - 25 inclusive, maturing on October 15, 1961, said
<br />warrants numbers 26 - 30 inclusive, maturing April 15, 1962, said
<br />warrants numbers 31 - 35 inclusive, maturing October 15,1962, said
<br />warrants numbers 36 - 40 inclusive, maturing April 15, 1963, said
<br />warrants numbers 41 - 45 inclusive, maturing October 15, 1963, said
<br />warrants numbers 46 - 50 inclusive, maturing April 15, ,1964. The
<br />seal of the City shall be affixed to each of said bonds and shall be
<br />signed by the Mayor, be attested by the City Secretary and registered
<br />by the City Treasurer. Said warrants shall be payable to bearer.
<br />
<br />3. That each of said warrants shall be in the following form:
<br />
<br />UNo.
<br />
<br />UNITED STATES OF AMERICA
<br />
<br />$1,000.00
<br />
<br />THE STATE OF TEXAS
<br />
<br />COUNTY OF HAYS
<br />
<br />CITY OF SAN MARCOS DISPOSAL PLANT IMPROVEMENT WARRANTS, 1959
<br />
<br />THIS IS TO CERTIFY that the City of San Marcos, a municipal corpora-
<br />tion in the County of Hays, State of Texas, under and by virtue of valid
<br />and subsisting claims against said City, is justly indebted to bearer
<br />in the principal sum of
<br />
<br />ONE THOUSAND DOLLARS
<br />
<br />($1,000.00) in lawful money of the United States of America, together
<br />with interest thereon, from date hereof, at the rate of four per cent
<br />(4%) per annum, payable semi-annually on April 15 and October 15 in
<br />each year; both principal and interest on warrants 1 - 5 inclusive,
<br />11 - 15 inclusive, 21 - 25 inclusive, 31 - 35 inclusive, 41 - 45
<br />inclusive payabbeat the First National Bank, San Marcos, Texas, and
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