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<br />AND WHEREAS, the City Council has duly ascertained and determin-
<br />ed 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 $47,066.39 are
<br />now held and owned by The First National Bank of San Marcos, Texas;
<br />and
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<br />WHEREAS, the City Council desires to approve and allow said
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<br />claims and to authorize the delivery of CITY OF SAN MARCOS GENERAL
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<br />PURPOSE WARRANTS, SERIES 1967, to evidence said indebtedness; there-
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<br />fore,
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<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS:
<br />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 $47,066.39, 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 San
<br />Marcos, Texas.
<br />Section 2. That to evidence said indebtedness, there shall be
<br />executed and delivered to The First National Bank of San Marcos, Texas,
<br />CITY OF SAN MARCOS GENERAL PURPOSE WARRANTS, SERIES 1967, dated April
<br />1, 1967, Numbers 24 to 70, inclusive, of the denomination of $1,000
<br />each, aggregating $47,000, bearing interest at the rate of 4-1/2% per
<br />annum, and maturing on April 1st, $2,000 in 1971, $10,000 in 1972,
<br />$15,000 in each of the years 1973 and 1974, and $5,000 in 1975,
<br />authorized by the aforesaid ordinance of March 13, 1967, Which ordi-
<br />nance is duly recorded in the Minutes of said City Council.
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