|
<br />~
<br />
<br />I
<br />
<br />AND WHEREAS, the City Council has duly ascertained and determined
<br />that said claims were incurred for general operating purposes, in-
<br />cluding salaries, materials, supplies, and legal and other necessary
<br />general operating expenses of said City, as contemplated and author-
<br />ized by the aforesaid ordinance of March 13, 1967; and
<br />WHEREAS, said claims have been duly audited and found to be
<br />correct and unpaid obligations of said City of San Marcos; and
<br />WHEREAS, said claims in the aggregate amount of $23,017.29 are
<br />now held and owned by The First National Bank of San Marcos, Texas;
<br />
<br />and
<br />
<br />WHEREAS, the City Council desires to approve and allow said claims
<br />and to authorize the delivery of CITY OF SAN MARCOS GENERAL PURPOSE
<br />WARRANTS, SERIES 1967, to evidence said indebtedness; therefore,
<br />
<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS:
<br />II Section 1. That the claims hereinabove listed for indebtedness
<br />incurred for general operating purposes, including salaries, materials,
<br />supplies, and legal and other necessary general operating expenses of
<br />said City, as contemplated and authorized by the aforesaid ordinance
<br />of March 13, 1967, in the amount of $23,017.29, are hereby allowed
<br />and declared to be the lawful indebtedness of said City; that said
<br />claims are legally owned and held by The First National Bank of
<br />
<br />San Marcos, Texas.
<br />
<br />Section 2. That to evidence said indebtedness, there shall be
<br />
<br />executed and delivered to The First National Bank of San Marcos, Texas,
<br />
<br />I
<br />
<br />CITY OF SAN MARCOS GENERAL PURPOSE WARRANTS, SERIES 1967, dated
<br />April 1, 1967, Numbers 1 to 23, inclusive, of the denomination of
<br />$1,000 each, aggregating $23,000, bearing interest at the rate of
<br />4-1/2% per annum, and maturing on April 1st, $5,000 in each of the
<br />years 1968 to 1970, inclusive, and $8,000 in 1971, authorized by the
<br />aforesaid ordinance of March 13, 1967, which ordinance is duly
<br />
<br />recorded in the Minutes of said City Council.
<br />
<br />Section 3. That the City of San Marcos, Texas, has received full
<br />value and consideration for said Warrants Numbers 1 to 23, inclusive.
<br />
|