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<br />AN ORDINANCE PROVIDING FOR BORROMI~ MONEY AND ISSUING
<br />OF INT'ERST'ATE 35 EKPEdTSE YIARRA~(IS TO T1R: AIAOUHf
<br />OF $50,000.00 Ff1R THE PURPOSE OF PAYING CURRENT EXPENSES
<br />INVOLVED IN UTILITY RTiI.OCATION ON INTERSTATE 35 DURING
<br />THE FISCAL YEAR 1982-63; PROVIDING FOR Ttffi PAYA~NT OF
<br />THE PRINCIPAL AND INTEREST OF SAID WARRANTS.'
<br />1~~
<br />WH€REAS, it is necessary in carrying on the businea~ of relocating
<br />Utility on Interstate 35 the Citq during the fiscal year 1962-63 atust borrow
<br />coney for the purpose of paying operating expenses; involved in the said re-
<br />location and
<br />WHEREAS, it has been ascertained and determined ~y the Governing
<br />Body that the cost practicable and satisfactory method of borrowing money
<br />for the said purpose is to issue currant expense time warrants;
<br />N(NY, TH[:REFORE, BE II ORDAIN® HY THE GOVERNING BODY OF THE CTfY
<br />OF SAN MARCC'1S, TEXASs
<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 evidence
<br />such indebtedness eurreret expense warrants of the City be issued.
<br />2. That such warrants be designated "CITY OF SAN A1ARC05 INTERSTATE
<br />35 CURRENT E7LI~NSE WARRANTS, 1962-63,° be dated May,24, 1963, bs fifty {50)
<br />in number, numbered, consecutively, from one {1) to fifty (50), inclusive,
<br />be of the denomination of $1,000.00 each, all of said warrants to mature
<br />on or hefore March 31,,1963, hearing interest at a rata not to exceed €our
<br />per cent per annum free the date of delivery until paid,, ,both principal
<br />and interest payable on or before Match 31,.,1963. The ssai of, the City
<br />shall be affixed to each of said bonds and shall be signed by the Mayor,
<br />be attested by the City Seoretary and registered by the City Treasurer.
<br />Said warra~s shall be payable to bearer.
<br />3. That each of said warrants shall be in the following forms
<br />eNO. $1,000.00
<br />UWITED STATES OF AMERICA
<br />THE STATE OF TflCAS
<br />COUNTY OF HAYS
<br />CITY OF SAN MARCOS INTERSTATE 35 CURRENT EXPENSE WARRANTS, 1962-1963
<br />This is to certify-that the City of San Marcos, in„the Stets of
<br />Texas, is justlp indebted to, and fox value received, hereby promises to
<br />pay to bearer, the sum of ONE THOUSAND DOLLI+RS ($1,000.00) in lawful woney
<br />of the United States of Ameriea~ on or before the 31st day of,ldarch, 1963,
<br />with interest theregn from the Bats of delivery hereof at a rate not to
<br />exceed four per centuie per annum, such interest payable at maturity of
<br />this warrant, both principal artt~ interest of Warrants Nos, 1 through 25,
<br />inclusive, payable at the offices of the First_Natlonal Bank cf San Alarcon,
<br />in days County, Texas, on presentatioq and surrender of warrant
<br />and both principal and interest of Warrants No. 26 through ,30, inclusive,
<br />payable at the of€ices of the Stets Bank 6 Trust Company in San Marcos,
<br />in Hays County, Texas, on 'presentation and surrender of warrant. .
<br />This rarra~ is one of a aeries of fifty (50) warraerts~, numbered,
<br />consecutively, from one {1) to fifty (50), both inclusive, of-the
<br />denomination of ONE THGUSAND DOLLARS ($1,000.00) sash,. aggregatir~ Fifty
<br />thousand Dollars ($50,000.00), issued for the purpose of providing funds
<br />for paying expenses involved in relocation of Utilities on Interstate 35
<br />incurred during the current fiscal yeai of said City of San lAareos, said
<br />fiscal pear beginning on April 1, 1962, and ending on March 31, 1963.
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