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<br />AND WHEREAS, the City Council has duly ascertained and determined
<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 $36,676.79 are
<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 />claims and to authorize the delivery of CITY OF SAN MARCOS GENERAL
<br />PURPOSE WARRANTS, SERIES 1967, to evidence said indebtedness;
<br />
<br />therefore,
<br />
<br />II
<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,
<br />materials, supplies, and legal and other necessary general operating
<br />expenses of the said City, as contemplated and authorized by the
<br />aforesaid ordinance of March 13, 1967, in the amount of $36,676.79,
<br />
<br />are hereby allowed and declared to be the lawful indebtedness of
<br />
<br />said City; that said claims are legally owned and held by The First
<br />
<br />National Bank of San Marcos, Texas.
<br />
<br />I
<br />
<br />Section 2. That to evidence said indebtedness, there shall
<br />be executed and delivered to The First National Bank of San Marcos,
<br />Texas, CITY OF SAN MARCOS GENERAL PURPOSE WARRANTS, SERIES 1967,
<br />dated April 1, 1967, Numbers 152 to 187, inclusive, of the denomina-
<br />tion of $1,000 each, aggregating $36,000, bearing interest at the
<br />rate of 4-1/2% per annum, and maturing on April 1st, $9,000 in
<br />1980, $20,000 in 1981, and $7,000 in 1982, authorized by the afore-
<br />said ordinance of March 13, 1967, which ordinance is duly recorded
<br />in the Minutes of said City Council.
<br />
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