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<br />AND WHEREAS, the City Council has duly ascertained and determined
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<br />that said claims were incurred for general operating purposes, in-
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<br />eluding salaries, materials, supplies, and legal and other necessary
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<br />general operating expenses of said City, as contemplated and author-
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<br />ized by the aforesaid ordinance of March 13, 1967; and
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<br />WHEREAS, said claims have been duly audited and found to be
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<br />correct and unpaid obligations of said City of San Marcos; and
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<br />WHEREAS, said claims in the aggregate amount of $39,956.38 are
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<br />now held and owned by The First National Bank of San Marcos, Texas;
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<br />and
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<br />WHEREAS, the City Council desires to approve and allow said
<br />claims and to authorize the delivery of CITY OF SAN MARCOS GENERAL
<br />PURPOSE WARRANTS, SERIES 1967, to evidence said indebtedness;
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<br />therefore,
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<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS:
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<br />Section 1. That the claims hereinabove listed for indebtedness
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<br />incurred for general operating purposes, including salaries, materials,
<br />supplies, and legal and other necessary general operating expenses of
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<br />said City, as contemplated and authorized by the aforesaid ordinance
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<br />of March 13, 1967, in the amount of $39,956.38, are hereby allowed
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<br />and declared to be the lawful indebtedness of said City; that said
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<br />~laims are legally owned and held by The First National Bank of San
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<br />Marcos, Texas.
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<br />Section 2. That to evidence said indebtedness, there shall be
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<br />executed and delivered to The First National Bank of San Marcos,
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<br />Texas, CITY OF SAN MARCOS GENERAL PURPOSE WARRANTS, SERIES 1967,
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<br />dated April 1, 1967, Numbers 71 to 109, inclusive, of the denomination
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<br />of $1,000 each, aggregating $39,000, bearing interest at the rate of
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<br />4-1/2% per annum, and maturing on April 1st, $10,000 in 1975,
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<br />$15,000 in 1976, and $14,000 in 1977, authorized by the aforesaid
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<br />ordinance of March 13, 1967, which ordinance is duly recorded in the
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<br />Minutes of said City Council.
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