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<br />AN ORDINANCE PROVIDING FOR BORROWING MONEY
<br />AND ISSUING CITY OF SAN MARCOS UTILITY FUND
<br />CURRENT EXPENSE WARRANTS TO THE AMOUNT OF
<br />$50,000.00 FOR THE PURPOSE OF PAYING CURRENT
<br />OPERATING EXPENSES DURING THE FISCAL YEAR 1964-65;
<br />PROVIDING FOR THE PAYMENT OF PRINCIPAL AND INTER-
<br />EST OF SAID WARRANTS.
<br />
<br />Whereas, it is necessary in carrying on the business of the City during
<br />the fiscal year 1964-65, to borrow money for the purpose of paying current
<br />operati ng expenses; and,
<br />
<br />Whereas, it has been ascertained and determined by the Governing
<br />Body that the most practicable and satisfactory method of bOlTowing money
<br />for the said purpose is to issue current expense time warrants;
<br />
<br />NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF
<br />THE CITY OF SAN MARCOS, TEXAS:
<br />
<br />I. That there be borrowed by, for, and on behalf of the City of
<br />San Marcos, funds to the moximum extend of $50,000.00, and that to evidence
<br />such indebtedness current expense warrants of the City be issued.
<br />
<br />~
<br />
<br />2, That such warrants be designated "CITY OF SAN MARCOS UTILITY
<br />FUND CURRENT EXPENSE WARRANTS, 1964-65", be dated July 13, 1964, be
<br />fifty (50) 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 on or
<br />before January 31, 1965, bearing interest at the rate not to exceed four per cent
<br />(4%) per annum from the date of delivery until paid, both principal and interest
<br />payable on or before January 31, 1965, The seal of the City shall be affixed
<br />to each of said bonds and shall be signed by the Mayor, be attested by the City
<br />Secretary, and registered by the City Treasurer. Said warrants shall be payable to
<br />bearer .
<br />
<br />3. no' each of said walTants shall be in the following form:
<br />
<br />IINoD
<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 UTILITY FUND CURRENT EXPENSE WARRANTS, 1964-65.
<br />
<br />This is to certify that the City of San Marcos, in the State of Texas, is
<br />justly indebted to, and for value received, hereby promises 10 pay to bearer,
<br />the sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful money of the
<br />United States of America, on or before the 31st day of January, 1965, with
<br />interest thereon from the date of delivery hereof at a rate not to exceed four
<br />per cent (4%) per annum, such interest payable at maturity of this warrant
<br />both principal and interest of Warrants Nos. 1 through 25, inclusive, payable
<br />at the offices of the First National Bank in San Marcos, in Hays County, Texas,
<br />on presentation (!Odsurrender of warrant, and both principal and interest of
<br />Warrants Nos. 26 through 50. inclusive, payable at the offices af the State
<br />Bank and TrustCon.pany in San Marcos, Texas, Hays County, on presentation
<br />and surrender of warrant.
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