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<br />)01
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<br />AND WHEREAS, the City Council has duly ascertained and determined
<br />
<br />that said claims were incurred for general operating purposes, in-
<br />II 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 $42,287.82 are
<br />
<br />now held and owned by The First National Bank of San Marcos, Texas;
<br />and
<br />
<br />WHEREAS, the City Council desires to approve and allow said
<br />
<br />claims and to authorize the delivery of CITY OF SAN MARCOS GENERAL
<br />
<br />PURPOSE WARRANTS, SERIES 1967, to evidence said indebtedness;
<br />
<br />therefore,
<br />
<br />I
<br />
<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS:
<br />
<br />Section 1. That the claims hereinabove listed for indebtedness
<br />
<br />incurred for general operating purposes, including salaries, materials,
<br />supplies, and legal and other necessary general operating expenses of
<br />the said City, as contemplated and authorized by the aforesaid
<br />ordinance of March 13, 1967, in the amount of $42,287.82, are hereby
<br />allowed and declared to be the lawful indebtedness of said City; that
<br />
<br />said claims are legally owned and held by The First National Bank
<br />of San Marcos, Texas.
<br />
<br />Section 2. That to evidence said indebtedness, there Shall be
<br />
<br />
<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,
<br />
<br />II
<br />
<br />dated April 1, 1967, Numbers llO to 15l, inclusive, of the denomina-
<br />
<br />tion of $1,000 each, aggregating $42,000, bearing interest at the
<br />
<br />rate of 4-1/2% per annum, and maturing on April lst, $1,000 in 1977,
<br />
<br />$15,000 in each of the years 1978 and 1979, and $ll,OOO in 1980,
<br />
<br />authorized by the aforesaid ordinance of March 13, 1967, which ordi-
<br />
<br />nance is duly 'recorded in the Minutes of said City Council.
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