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<br />I <br /> <br />I <br /> <br />I <br /> <br />gl <br /> <br />AYES: Councilmen Craddock, Damon, Pool, Flores, <br />~and Korff; <br /> <br />NOES: NONE . <br /> <br />The Ordinance is as follows: <br /> <br />AN ORDINANCE <br /> <br />BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHOR- <br />IZING THE ISSUANCE OF BONDS IN THE AMOUNT OF TWO HUNDRED <br />THOUSAND DOLLARS ($200,000) FOR THE PURPOSE OF CONSTRUCTING <br />STREET IMPROVEMENTS IN SAID CITY, INCLUDING THE PURCHASE AND <br />INSTALLATION OF A SYNCHRONIZED TRAFFIC SIGNAL LIGHT SYSTEM <br />AND NECESSARY CURB AND SIDEWALK INSTALLATION, AND CONSTRUCTING <br />AND EQUIPPING'A PUBLIC BUILDING TO BE USED AS A FIRE STATION <br />IN SAID CITY; PROVIDING FOR THE LEVY, ASSESSMENT AND COLLEC- <br />TION OF A TAX ON ALL THE TAXABLE PROPERTY WITHIN THE LIMITS <br />OF SAID CITY TO PAY THE. INTEREST AND CREATE A SINKING, FUND <br />FOR THE REDEMPTION THEREOF; AND ENACTING PROVISIONS INCIDENT <br />AND RELATING TO THE SUBJECT AND PURPOSE OF THIS ORDINANCE; <br />AND CONFIRMING SALE OF THE BONDS; AND DECLARING. AN EMERGENCY. <br /> <br />--------------------------------------------------------------- <br /> <br />WHEREAS, the City Council of the City of San Marcos, Texas, has <br />heretofore on the 1st day of September, 1966, adopted a resolution <br />and order calling an election on the questions of the issuance of <br />$740,000 of bonds for the purpose of constructing street improve- <br />ments in said City, including the purchase and installation of a <br /> <br />synchronized traffic signal light system and necessary ~urb and <br />sidewalk installation, and $165,000 of bonds for the purpose of <br />constructing and equipping a public building to be used as a fire <br /> <br />station in said City; such bondS to bear interest at a rate not to <br /> <br />exceed 5-1/2% per annum, and to mature serially over a period of <br /> <br />years not to exceed forty (40) years from their date; and <br /> <br />WHEREAS, said election was held pursuant to said resolution <br /> <br />and order and in accordance with law on September 27, 1966, and <br /> <br />resulted favorably to the issuance of said bonds; and <br /> <br />WHEREAS, the City Council has heretofore on September 27, <br /> <br />1966, adopted a resolution canvassing the returns and declaring <br /> <br />the result of the election; and <br /> <br />WHEREAS, the City Council now deems it advisable and to the <br /> <br />best interest of said City of San Marcos to issue at this time <br /> <br />only $35,000 of the street improvement bonds and all of the <br /> <br />fire station bonds so authorized at said election, and to issue <br />