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<br />AN ORDINANCE PROVIDING FOR BORROWING MONEY AND IS::;UING
<br />OF UTILITY FUND CURRENT EXPENSE WARRANTS TO THE AMOUNT
<br />OF $20,000.00 FOR THE PURPOSE OF PAYING CURRENT OPERA-
<br />TING EXPENSES DURING THE FISCAL YEAR 1960-61; PROVIDING
<br />FOR THE PAYMENT OF THE PRINCIPAL AND ItITEREST OF SAID
<br />WARRANTS
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<br />Whereas, it is necessary in carrying on the business of the
<br />City during the fiscal year 1960-1961 to borrow money for the purpose
<br />of paying current operating expenses; and
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<br />'#hereas, it has been ascertained and determined by this Gov-
<br />erning Body that the most practicable and satisfactory method of
<br />borrowing money for the said purpose is to issue current expense time
<br />warrants;
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<br />NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE
<br />CITY OF SAN MARCOS, TEXAo:
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<br />1. That there be borrowed by, for and on behalf of the City
<br />of San Marcos, funds to the maximum extent of $20,000.00, and that to
<br />evidence such indebtedness current expense warrants of the City be
<br />issued.
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<br />L. That such warrants be designated "CITY OF SAN MARCOo
<br />UTILITY FUND CURREtIT EXPEN::;E WARRANTo, 1960-1961," be dated May 31, 1960,
<br />be twenty (20) in number, numbered, consecutively, from one (1) to
<br />twenty (20), inClusive, be of the denomination of $l,OOO.OO each, all of
<br />said warrants to mature on or before January 31, 1961, bearing interest
<br />at the rate of fOUT per cent (4%) per annum from the date of delivery
<br />until paid, both principal and interest payable on or before January
<br />31, 1961. The seal of the City shall be affixed to each of said bonds
<br />and shall be signed by the Mayor, be attested by the City Secretary and
<br />registered by the City Treasurer. said warrants shall be payable to
<br />bearer.
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<br />3. That each of said warrants shall be in the following form:
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<br />tlNo..
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<br />UNITED STATE::; OF AMERICA
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<br />$1,000.00
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<br />THE STATE OF TEXAS
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<br />COUtITY OF HAYS
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<br />CITY OF SAN MARCOs UTILITY FUND CURRENT EXPENSE WARRANTS, 1960-1961
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<br />This is to certify that the City of San Marcos, in the State of
<br />Texas, is justly indebted to, and for value received, hereby promises to
<br />pay to bearer, the sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful
<br />money of the United States of America, on or before the 31st day of Jan-
<br />uary, 1961, with interest thereon from the date of delivery hereof at
<br />the rate of four per centum (4%) per annum, such interest payable at
<br />maturity of this warrant, both principal and interest of Warrants Nos. 1
<br />through 10, inclusive, payable at the offices of the State Bank & Trust
<br />Company in San Marcos, in Hays County, Texas, on presentation and SUr-
<br />render of warrant, and both principal and interest of Warrants Nos. 11
<br />through 20, inclusive, payable at the offices of the First National Bank
<br />in San Marcos, in Hays County, Texas, on presentation and surrender of
<br />warrant.
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<br />This warrant is one of a series of twenty (20) warrants,
<br />numbered, consecutively, from one (1) to twenty (20), both inclusive,
<br />of the denomination of ONE THOUSAND DOLLARS ($1,000.00) each, aggregating
<br />Twenty Thousand Dollars ($20,000.00), issued for the purpose of providing
<br />funds for current expenses incurred during the current fiscal year of
<br />said City of San Marcos, said fiscal year beginning on April 1, 1960, and
<br />ending on March 31, 1961.
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