HomeMy WebLinkAboutMinutes - City Council - Regular - 5/7/19494 RECESSED REGULAR MEETING
Lubbock, Texas
M:, y 7 , 1949
The City Commission of the City of d Lubbockj
ularas, metgaofApril 10.00 A- M- in9,
recessed regular session, recesse
in the City Hall, the following members thereof
at the regular meetin? place
being' present, to -wit:
Hufstedler Jr., Clarence
Mayor W. H. Rod,-ers, Commissioners W. B. Price, E. K.
iteside John Spikes Cit•- Attorney Vaughn E. Wilson, City 1�Tanager Steve
K. Wh �
Matthews, City Secretary Lavenia Lowe.
Absent: None,
Motion by Commissioner Hufstedler, seconded by Commissioner Spikes, carried
unanimously, the following Resolution was passed:
RESOLUTION
ITC0�'IISSION OF T1t CITY OF LUBBOCK, TEXAS -
BE IT RESOLVED BY THE C
That the City Manager be and he is hereby
concerninglthe furnishzed to ing of
r the
following proposal to Texas Tech officials
water by the City of Lubbock to, Texn s Tech:
1. That City will furnish water by delivery into the tanks and reser-
voirs furnished by Texas Tech at commercial water rates now applicable and
ear to year
subject to change; -that watirble for rbe nanyedamagesd as oor other ve dincideon a nts beyond
basis and the City be not 1 a 1 adequate to meet the demands of the
its control which prevents a water suowp water distribution system and accept
school; the t Texas Tech oper-s and
the water delivered by the City of Lubbock in nmeteringeeouipmentato bpayments
e fur
be made to the City for said water according to
nished by Texas Tech; that acceptance of this pr?poson al of Ttheex,, ecutions Tech 1of is
is made subject to ratification by the City
a formal contract.
Passed and approved by unanimous vote of the City Commission this 7th
day of May, 1949.
yd, H. Rodqers
Mayor
ATTEST:
Lavenia Lowe
City Secretary
Motion by Commissioner Whiteside, seconded by Commissioner Hufstedler,
carried unanimously, the following Resolution was
RESOLUTION
�,roved a
I+A-I REAS, on March 10, 19492 the Citizens National Bank aP;
00 to be -secured by certificates of_paving
loan in the amount of $300,000. the minutes
with a 33- /3 in and bearing a 3I interest rate as shown by
1 marg 1949 and the City now needs an advancement
of the Commission, dated March 10, ro ects
of $ 100 000.00 thereunder to insure completion of part of its paving; p j
THEREFORE,
BE IT RESOLVFD BY THE CTTv COMMISSION OF THE CT7'Y OF LUBBOCK:
City of Lubbock dated May 7, 1949 for
That the Mayor of the City of the
be and said officer is hereby e
authorized to execute the note of y a per annum and payable id n
$100,000,.00 bearing interest at the rate of or P 1950, said note
Citizens National Bank of Lkbandk2 Texas 0
mount credited etoathe�pavingo fund to
to be delivered to said ban vin projects. In consideration
the City and used for existing pa g P Body
of t e with a face value
loan
and as security to said bank the Governndgcerdy of the City of Lubbock
hereby pledges individual
pviamounttofcthets aloan.
of 33-1/3/ over the principal
passed and approved by unanimous vote of the City Commission this 7th day
of May, 1949.
W. H. Rod.ers
ayor
ATTEST:
City Secretary
Motion by Commissioner Price, seconded by Commissioner Whiteside carried
unanimous) , to authorize purchase by the City of Lubbock "City hall Build-
ing Fund'? $51,000.00 11.1/4% Cer-tificates of Indebtedness, Sefibs G 1949,
from the City of Lubbock IfWater System Extension Fund."
Motion by Commissioner Price, seconded by Commissioner Whiteside, carried
unanimously, to authorize the Mayor, W. H. Rodgers, to borrow $25,000.00
from the Citizens National Bank to cover over -draft on Water Extension, bond
fund. Bonds having been sold on April 28, 1949, and money from such sale
will be available within the next thirty days, at which time the bank to be
paid for this $25,000.00 loan.
No further business coming up for consideration, the City Comm, ission
recessed to meet May 10, 1949, at 2 P.M.
Read and approved this the 12th day of
ATTEST:
ity Secretary.
May , 1949.
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