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<br />AN ORDINANCE PROVIDING FOR ISSUING
<br />CITY OF SAN MARCOS GENERAL FUND
<br />EXPENSE WARRANTS NOT TO EXCEED THE
<br />AMOUNT OF $30,000.00 FOR THE PURPOSE
<br />OF FINANCING THE PURCHASE OF PROPERTY
<br />INCLUDED IN OPEN-SPACE PROJECT TEX OS-I;
<br />AND, PROVIDING FOR THE PAYMENT OF .THE
<br />PRINCIPAL AND INTEREST OF SAID WARRANTS.
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<br />WHEREAS, it is necessary in financing the purchase of property
<br />under Tex OS-I, it is necessary for the City of San Marcos during the
<br />fi sca I year 1963-64, to borrow money for th i s purpose; and,
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<br />WHEREAS, it has been ascertained and determined by the Governing
<br />Body that the most practicable and satisfactory method of borrowing money
<br />for the said purpose is to' issue general fund, expense warrants.
<br />
<br />NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING
<br />BODY OF THE CITY OF SAN MARCOS, TEXAS:
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<br />1. That there be borrowed by , for, and on beha If of the
<br />City of San Marcos, funds to the maximum extent of $30,000.00, and
<br />that to evidence such indebtedness, General Fund Warrants of the City
<br />be issued.
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<br />2. That such warrants be designated "CITY OF SAN MARCOS
<br />GENERAL FUND EXPENSE WARRANTS, TEX OS-I", be dated April 10,
<br />1963, be thirty (30) in number, numbered consecutively, from one (1) to
<br />thirty (30), inclusive, be of the denomination of $1,000.00 each, all of
<br />said warrants to mature on or before January 31, 1964, bearing interest
<br />at a rate not to exceed three percentum ((3%) per annum from the date
<br />of delivery until paid, both principal and interest payable on or before
<br />Janua!)' 31, 1964. The seal of the City shall be affixed to each of said
<br />bonds and shall be signed by the Mayor, be attested by the City Secreta!)',
<br />and registered by the City Treasurer. Said warrants shaH 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 />"NO.
<br />
<br />UNITED STATES OF AMERICA
<br />THE STATE OF TEXAS
<br />COUNTY OF HAYS
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<br />$1,000.00
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<br />CITY OF SAN MARCOS GENERAL FUND EXPENSE WARRANTS, TEX OS-I.
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<br />This is to certify that the City of San Marcos, in the State of Texas,
<br />is justly indebted to, and for value received, hereby promises to pay to
<br />bearer, the sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful money
<br />of the United States of America, on or before the 31st day of January, 1964,
<br />with interest thereon from the date of delivery hereof at a rate not to exeed
<br />three percentum (3"10) per annum, such interest payable at maturity of this
<br />warrant, both principal and interest of Warrants No. 1 through 15, inclusive,
<br />payable at the offices of the First National Bank in San Marcos, Hays
<br />County, Texas, on presentation and surrender of warrant, and both principal
<br />and interest of Warrants Nos. 16 through 30, inclusive, payable at the
<br />offices of the State Bank and Trust Company in 'San Marcos, Hays County,
<br />Texas, on presentation and surrender of warrant.
<br />
<br />This warrant is one of a series of thirty (30) warrants, numbered
<br />consecutively fro!J1 one (1) to thirty (30) inclusive of the denomination of
<br />ONE THOUSAND DOLLARS ($] ,000.00) each, aggregating Thirty Thousand
<br />Dollars ($30,000.00), issued for th", purpose of providing funds for financing
<br />the purchase of property under T ex OS-I.
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