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<br />PJl ORDINANCE PROVIDING FOR BORROWING MONEY AND ISSUING
<br />OF GENERAL FUND CURRENT EXPENSE WARRANTS TO THE AMOUNT
<br />OF $50,000.00 FOR THE, PURPOSE OF PAYING CURRENT OPERATING
<br />EXPENSES DURING THE FISCAL YEAR 1965-66; PROVIDING FOR TEE
<br />PAYMENT OF THE PRINCIPAL AND INTEREST OF SAID WARRANTS.
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<br />WHEREAS, it isneces s ary in carrying on the bus ines s of the
<br />City during the fiscal year 1965-66, 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 warrants;
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<br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL
<br />OF THE CITY OF SAN ~!ARCOS, TEXAS:
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<br />l. That there be borrowed by, for, and on behalf of the City
<br />of San Marcos, funds to the maximum extent of $50,000.00 and that
<br />to evidence such indebtedness current expense warrants of the City
<br />be issued.
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<br />2. That such warrants be designated "CITY OF SAN MARCOS
<br />GENERAL FUND CURRENT EXPENSE WARRANTS, 1965-66, be dated
<br />July 1, 1965, be fifty (50) in nuIDber, numbered consecutively
<br />from one (1) to fifty (50) indusive, be of the denomination of
<br />$l,OOO.OO each, all of, said warrants to mature On or before January
<br />3l, 1966, 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 January 31, 1966, 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 />$l,OOO.OO
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<br />CITY OF SAN MARCOS GENERAL FUND CURRENT EXPENSE WARRANTS, 1965-66
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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 the
<br />United States of America, on or before the 3lst day of January 1966
<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 />25, inclusive, payable at the offices of the First National Bank
<br />in San Marcos, Hays County, Texas, and Warrants Nos. 26 through 50
<br />inclUSive at the State Bank and Trust Co. of San Marcos, Hays County,
<br />Texas, on presentation and surrender of warrants.
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<br />This warrant is one of a series of fifty (50) warrants, numbered
<br />consecutively, from one (1) to fifty (50), both inclusive, of the
<br />denomination of ONE THOUSAND DOLLARS ($1,000.00), issued for the pur-
<br />pose of providing funds for current expenses incurred during the current
<br />fiscal year of said City of San Marcos, and fiscal year beginning on
<br />July 1, 1965 and ending on June 30, 1966.
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<br />It is hereby certified, recited, and represented that all acts,
<br />conditions and things necessary to be done precedent to and in the
<br />issuance of this warrant have been properly done, have happened and
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