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<br />r--- <br /> <br />162-h <br /> <br />WHEREAS, the City Council finds and determines that said <br /> <br />I <br /> <br />claim was incurred for the purpose contemplated and authorized <br />by the ordinance authorizing said certificates of obligation, <br />and the contractor has complied with the terms of the contract; <br />and <br /> <br />WHEREAS, said claim has been duly audited, found and deter- <br />mined to be correct, and is a valid and unpaid obligation of said <br />City, and said City Council finds and determines it is to the best <br />interest of said City to approve and allow said claim, and to <br />authorize the delivery of certain certificates of obligation as <br />previously authorized to evidence said indebtedness; and <br />WHEREAS, the urgent necessity for the city hall and related <br /> <br />matters for said City requires that this ordinance be passed as <br />an emergency measure for the immediate preservation of the public <br />peace, property, health, welfare and safety of said City and its <br /> <br />I <br /> <br />inhabitants; therefore, <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: <br /> <br />Section 1. That the claim hereinabove listed for indebted- <br /> <br />ness, legally incurred for the constructing of a city hall for <br /> <br />said City, in the amount of $ ~0,970,00 <br /> <br />be, and is hereby declared <br /> <br />to be, the lawful indebtedness and legal contractual obligation of <br />said City and same be and is hereby approved and allowed. <br /> <br />Section 2. That to evidence $20,00000 <br /> <br />of said indebtedness <br /> <br />and legal contractual obligation of said City, there shall be <br />executed and delivered to the aforestated claimant certain CITY <br /> <br />OF SAN MARCOS CERTIFICATES OF OBLIGATION, SERIES 1974, dated as <br /> <br />I <br /> <br />of the date of registration, numbered Jl to ~_, inclusive, in <br />the denomination of $5,000 each, aggregating $ 20 000 00 bearing <br />seven per cent (7%) interest per annum, and maturing June 1 in <br />each of the years as follows: <br /> <br />MATURITY DATES <br />( Inclusl. ve) <br /> <br />AMOUNTS <br />(Per Year) <br /> <br />June 1, 1981 - June 1, 1983 <br /> <br />1981 - $5,000 <br />1982 - $10,000 <br />1983 - $5,000 <br />