02131967 Regular Meeting - Laserfiche WebLink

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I I I RES 0 L UTI 0 N AUTHORIZING AND INSTRUCTING THE MAYOR TO PUBLISH NOTICE OF THE INTENTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, TO ISSUE INTEREST- BEARING TIME WARRANTS WHEREAS, the City Counci I deems it advisable and necessary that certain claims to be incurred for general operating purposes of said City be liquidated and paid by the issuance of interest-bearing time warrants of said City payable from an ad valorem tax upon all taxable property in said City; and WHEREAS, it is proper and necessary that the City give notice of its intention to issue such interest-bearing time warrants; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: That the Mayor be, and he is hereby authorized, ordered and directed to do al I things necessary and/or convenient to have published the notice required by Chapter 163, Acts of the Regular Session of the Forty-second Texas Legislature, as amended; that said notice shal I signify the intention~of the City Counci I of said City to issue not exceeding $200,000.00 interest-bearing time warrants, to bear interest at a rate not to exceed six (6%) per cent per annum, and the maximum maturity of which warrants shall be'nbt later then forty (40) years from their date, and to be payable out of an ad valorem tax upon all taxable property in said City; such time warrants to be issued for the purpose of evidencing indebtedness of the City of San Marcos to be incurred for general operating purposes, including salaries, materials, supplies, and legal and other necessary general operating expenses of said City. ADOPTED AND APPROVED th i s the 13th day of February, 1967. ~~~-<~-~ . Ell i s -~etff;--i< Mayor A~TEST: (. ll~r1c' ~~( .lJl}(~l;I~(O€j Dorothy/O \' Worre II City S~cr,tary /