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<br />AN ORDINANCE PROVIDING FOR BORROWING MONEY'AND ISSUING
<br />CITY OF SAN MARCOS GENERAL FUND CURRENT EXPENSE WARRANTS
<br />TO THE AMOUNT OF $50,000.00 FOR THE PURPOSE OF PAYING
<br />CURRENT OPERATING EXPENSES DURn~ THE FISCAL .YEAR
<br />1962-63; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL AND
<br />INTEREST OF SAID WARRANTS.
<br />
<br />Whereas, it is necessary in carrying on the 'business of the City
<br />during the fiscal year 1962-1963 to borrow money for the purpose of paying
<br />current operating expenses; and
<br />
<br />Whereas, it has been ascertained and det~rmined by the Governing
<br />Body that the most practicable and satisfactory method of borrowing money
<br />for the said purpose is to issue current expense time warrants;
<br />
<br />NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING Booy OF THE CITY
<br />OF SAN MARCOS, TEXASl
<br />
<br />1. Th"t there be borrowed by, for and on behalf of the Citrof
<br />San Marcos, funds to the maximum extent of $50,000.00, and that to
<br />evidence such indebtedness current expense warrants of the City be issued.
<br />
<br />2. That such warrants be r!esignated "CITY OF SAN MARCOS GENERAL
<br />FUND CURRENT EXPENSE WARRANTS, 1962-1963," be dated June 26, 1962, be
<br />fifty (50) in number, numbered, consecutively, from one (l) to fifty (50),
<br />inClusive, be of the denomination of $1,000.00 each, all of said warrants
<br />to mature on or before January 31, 1963, bearing interest at a rate not to
<br />exceed four per cent (4%) per annum from the date of delivery until paid,
<br />both principal and interest payable on or before January 31, 1963. The
<br />seal of the City shall be affixed to each of said bonds and shall be signed
<br />by the Mayor, be attested by the City Secretary and registered by the City
<br />Treasurer. Said warrants shall be payable to bearer.
<br />
<br />3. That each of said warrants shall be in the followin9 forml
<br />
<br />tlNo.
<br />
<br />UNITED STATES OF AMERICA
<br />
<br />$1,000.00
<br />
<br />THE STATE OF TEXAS
<br />
<br />COUNTY OF HAYS
<br />CITY OF SAN MARCOS GENERAL FUND CURRENT EXPENSE WARRANTS, 1962-l963
<br />
<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 money
<br />of. the United States of America, on or before the 3lst day of January, 1963,
<br />with interest thereon from the date of delivery hereof at a rate not to
<br />exceed four per centum (4%) per annum, such interest payable at maturity
<br />of this warrant, both principal and interest of Warrants Nos. 1 through
<br />25, inclusive, payable at the offices of the First National Bank in San
<br />Marcos, in Hays County, Texas, on presentation and surrender of warrant,
<br />and both principal and interest of Warrants Nos. 26 through 50, inClusive,
<br />payable at the offices of the State Bank and Trust Company in San Marcos,
<br />in Hays County, Texas, on presentation <nd surrender of warrant.
<br />
<br />This warrant is one of a series of fifty (50) warrants, numbered,
<br />consecutively, from one (l) to fifty (50), both inclusive, of the denomina-
<br />tion of ONE THOUSAND DOLLARS ($1,000.00) each, aggregating Fifty Thousand
<br />Dollars ($50,000.00), issued for the purpose of providing funds for current
<br />expenses incurred during the current fiscal year of said City of San Marcos,
<br />said fiscal year beginning on April 1, 1962, and ending on March 31, 1963.
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