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<br />~ ' <br />I <br /> <br />I <br />I <br /> <br />1 <br /> <br />The Mayor announced that the ordinance had been passed finally. <br />The Ordinance is as follows: <br />liHEREAS, each' and all of the mempers of the City Council of <br />SanM~rcos, Texas, was duly and sufficiently notified, officially <br />and personally, in advance, of the time, place and purpose of this <br /> <br />Ilteeting; and <br /> <br />WHEREAS, proper notice of this meeting has been duly and <br /> <br />timely posted as provided by law; 'and <br />WHEREAS, the City Council finds and determines the advisability <br />and necessity of constructing a police and courts building for said <br />City and that same is an authorized need and said City has the <br />requisite power and authority to contract for such construction and <br />to issue int,erest-bearing certificates of obligation for. the pur- <br />pose of paying the contractual obligation ~~d indebtedness of said <br /> <br />rp . <br /> <br />City to be incurred by such construction, and for legal services <br /> <br />I <br /> <br />and other related expenses in connection therewith; and <br /> <br />WHEREAS, the urgent necessity for such construction for said <br />City requires that this Ordinance be passed as an emergency measure <br />for the immediate preservation of the public peace, property, <br />,health, welfare and safety of said City and its i~habitants; <br />therefore, <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: <br /> <br />1 <br /> <br />Section 1. That there shall be issued under and by virtue of <br /> <br />the Constitution and laws of the State of Texas, interest-bearing <br /> <br />certificates of obligation (sometimes herein called certific~tes) <br /> <br />of said City to be known as CITY OF SAN MARCOS CERTIFICATES OF <br /> <br />OBLIGATION, SERIES B OF 1972 in the principal amount of $85,000 <br /> <br />for the purpose of paying the contractual obligation and indebted- <br /> <br />ness to be incurred in the constructing of a police and courts <br /> <br />building for said City and for legal services and other related <br /> <br />expenses in connection therewith. <br /> <br />Section 2. That said certificates shall. be delivered to and <br /> <br />accepted by claimants or their assignees in settlement of the con- <br /> <br />tractual obligations and indebtedness due them after claims have <br />