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<br />AN ORDINANCE PROVIDING FOR BORROWING MONEY AND ISSUING
<br />OF GENERAL FUND CURRENT EXPENSE WARRANTS TO THE AMOUNT
<br />OF $30,000.00 FOR THE PURPOSE OF PAYING CURRENT OPERATING
<br />EXPENSES DURING THE FISCAL YEAR 1964-65; PROVIDING FOR THE
<br />PAYMENT OF THE PRINCIPAL AND INTEREST OF SAID WARRANTS.
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<br />WHEREAS, it is necessary in carrying on the business of the
<br />City during the fiscal year 1964-65, to borrow money for the purpose
<br />of paying current operating expenses; and,
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<br />WHEREAS, it has been ascertained and determined by this City
<br />Council that the most practicable and satisfactory method of borrowing
<br />money for the said purpose is to issue current expense time :-varrants;
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<br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL
<br />OF THE CITY OF SAN MARCOS, TEXAS:
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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 $30,000.00 and that
<br />to evidence such indebtedness current expense 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 CURRENT EXPENSE WARRANTS, 1964-65, be dated
<br />February 1, 1965, be thirty (30) in number, numbered consecutively
<br />from one (1) to thirty (30) inclusive, be of the denomination of
<br />$1,000.00 each, all of said warrants to mature on or before June
<br />30, 1965, bearing interest at the rate not to exceed four percent
<br />(4%) per annum from the date of delivery until paid, both principal
<br />and interest payable on or before June 30, 1965. The seal of the
<br />City shall be affixed to each of said bonds and shall be Signed by
<br />the Mayor, be attested by the City Secretary and registered by the
<br />City Treasurer. Said warrants shall be payable to bearer.
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<br />3. That each of said warrants shall be in the following form:
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<br />"No..
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<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 CURRENT EXPENSE WARRANTS, 1964-65
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<br />This is to certify that the City of San Marcos, Texas, is justly
<br />indebted to, and for value received, hereby promises to pay to bearer,
<br />the sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful money of
<br />the United States of America, on or before the 30th day of June, 1965,
<br />with interest thereon from the date of delivery hereof at the rate of
<br />four percentum (4%) per annum, such interest payable at maturity of
<br />this warrant, both principal and interest and Warrant Nos. 1 through
<br />30, inclusive, payable at the offices of the First National Bank
<br />in San Marcos, Hays County, Texas, on presentation and surrender
<br />of warrants.
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<br />This warrant is one of a series of thirty (30) warrants, numbered
<br />consecutively, from one (1) to thirty (30), both inclusive, of the
<br />denomination of ONE THOUSAND DOLLARS ($1,000.00) each, aggregating
<br />ThittyThousand Dollars ($ 30,000.00), issued for the purpose of provid-
<br />ing funds for current expenses incurred during the current fiscal year
<br />of said City of San Marcos, and fiscal year beginning on July 1, 1964
<br />and ending on June 30, 1965.
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<br />:;.rs
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