HomeMy WebLinkAboutMinutes - City Council - Regular - 4/3/1953RECESSED REGULAR MEETING
Lubbock, Texas
April 3, 1953
The City Commission of the City of Lubbock, Texas, met at 9:30 A. M. in regular session,
recessed from regular meeting of March 26, 1953, at the regular meeting place in the City
Hall, the following members, thereof, being present to -wit:
Mayor Murrell R. Tripp, Commissioners Harry Morris, L. E. Davis, Lucian Thomas, City Manager
Steve Matthews, City Attorney Vaughn E. Wilson, City Secretary -Treasurer Lavenia Lowe.
Absent: Commissioner Hurley Carpenter.
53-11-443-870 Motion by Commissioner Morris, seconded by Commissioner Davis,motion carried, Mayor Tripp and
Commissioners Morris, Davis and Thomas voting Yea, none voting Nay, the following Resolution
was passed.
R E S O L U T I O N
WHEREAS, the Commission has heretofore directed that various projects be pinned and
commenced according to recommendations made by a committee of Lubi?ock citizens and as shown
by the Bond Budget for 1952, 53t and subsequent years, and in connection with some�f said
projects progress has been made by the extent that funds will be required for interim financ-
ing prior to June 1, 1953, as follows, to -wit:
$150,000.00 chargeable against Park Bond Funds,
$ 90,000.00 chargeable against Street Lighting Bond Funds,
$ 80,000.00 chargeable against Street Improvement Bond Funds,
$210,000.00 chargeable against General Obligation Electric Light Bond Funds, and
41$ g 0,000.00 chargeable against Water Works Revenue Bond Funds,
all ^f which said sums are less than the amount of bonds authorized to be sold, and which have
been duly advertised for sale on April 23, 1953; and said amounts are needed prior to the time
it is anticipated the funds will be received by the City following sale; THEREFORE,
BE IT RESOLVED BY THE CITY COMMISSION OF TH4ITY OF LUBBOCK:
THAT the Mayor BE, and he is hereby authorized to execute the City's obligation as may
be required at the best obtainable interest rate, and in any event not to exceed three per cent,
said obligation to be promptly discharged out of the respective bond funds when received.
That the interest on the foregoing obligation shall be paid out o 4he General Fund
when due.
On motion of Commissioner Morris, seconded by Commissioner Davis, this Resolution was
passed this 3rd day of April, 1953, by the following vote:
Commissioners voting "YEA": Morris, Davis, Thomas and Mayor Tripp
Commissioners voting "NAY": None
/s/ Murrell R. Tripp
MURRELL R. TRIPP, Mayor
ATTEST:
VEW(isv /s/ Lav
53-llQdd,-Vl Motion by Commissioner Thomas, seconded by Commissioner Morris, motion carried, Mayor Tripp
and Commissioners Morris, Davis and Thomas voting Yea, none voting Nay, the following
Resolution was passed,
R E S O L U T I O N
WHEREAS, the City Commission has heretofore authorized the Mayor to execute the City's
obligations dated 9-22-52 for $50,000.00; 9-29-52 for $20,000.00; 11-14-52 for $100,000.00;
and 1-28-53 for $154,881.25; totalling $324.,881.25; and the interest on said obligations
amounts to the sum, $1,031.00 to and including April 2, 1953, said advances having been
made at an interest rate of one per cent (1%); and it becomes necessary to renew and extend
such obligations until funds from bond sales have been received, said sums having been ecured
through the City's Depository, and to be charged against the Water Works Revenue Funds w re
received; THEREFORE,
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
THAT the Mayor BE, and he is hereby authorized to renew and extend said obligations with
the Depository in the sum of $324,881.25 at one per cent (1%) until the Depository is reim-
bursed by the City as originally contemplated,
The sum $1,031.00 above mentioned as interest is directed to be paid to the Depository
as of this date frorAhe General Fund.
On motion of Commissioner Thomas, seconded by Commissioner Morris, this Resolution was
passed this 3rd day of April, 1953, by the following vote:
Commissioners voting "YEA": Morris, Davis, Thomas and Mayor Tripp
Commissioners voting "NAY": None
/s/ Murrell R. Tripp
MURRELL H. TRIPP, Mayor
ATTEST:
/s/ Lavenia Lowe
Lavenia Lowe, City Secretary -Treasurer
VEW:sv
4-2-53
53-11-444-871-A Motion by Commissioner Morris, seconded by Commissioner Davis, motion carried, Mayor Tripp
and Commissioners Morris, Davis and Thomas voting Yea, none voting Nay, to authorize the
following paragraph to Xhacre a part of City Commission Minutes of December 11, 1952, of
Record at Page 209-251. f
"The December 9, 1952, bond election having carried, the Qity Manager is
directed to arrange bond sales, including parts of bond issues previously author-
ized, and that projects planned and to be planned be based substantially on the
projects and for the purposes &hown by the Committeets recommendation, and that
expenditures be budgeted and substantially made according to the plan as outlined in
the recommendation."
No further business coming up for consideration, the City Commission recessed to meet
April 9, 1953, at 10:00 A.M.
Read and approved this the 9th day of April , 1953.
ATTEST:
Ci y Secretary- reasu er.
Murrel
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