Ord 1975-015 - Laserfiche WebLink

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7-b WHEREAS, the City Council finds and determines that said claim was incuTred for the purpose contemplated and au.thorized by the ordinance authorizing said certificates of obligation, I and the contractor has complied with the terms of the contract; and WEillREAS, said claim has been duly auditedy fou.nd and deter- r~ned to be correct, and is a valid and unpaid obligation of said City, and said City Council finds and determines it is to the best interest of said City to approve and allow said claim, and to authorize the delivery of certain certificates of ob'ligation as previously authorized to evidence said indebtedness; and WHEREAS, the urgent necessity for the city hall and related matters for said City requires that this o:cdinance be passed as an emergency measure for the immediate preservation of the public peace, property, health, welfare and safety of said City and its I inhabitants; therefore, BE IT ORDAI~mD BY THE CITY COUNCIL OF THE CITY OF SAN ViliRCOS: Section 1. That the claim hereinabove listed for indebted- ness, legally incurred for the constructing of a city hall for said City, in the amount of $70,257.60 be, and is hereby declared to be, the lawful indebtedness and legal contractual obligation of said City and same be and is hereby approved and allowed. Section 2. That to evidence $70,000.00 of said indebtedness and legal contractual obligation of said City, there shall be exe~uted and delivered to the aforestated claimant certain CI'YI OF SAN MARCOS CERTIFICATES OF OBLIGATION, SERIES 1974, dated as of the date of registration, numbered 12 to~, inclusive, in I the denomination of $5,000 each, aggregating $ 70,000.00 bearing seven per cent (7%) interest per annum, and maturing June 1 in each of the years as follows: lIiATURITY DATES ( Inclusi ve) 1983 1984-1989 1990 AJ:~OUNTS (Per Year) $ 5,000 $10,000 $ 5,000