HomeMy WebLinkAboutResolution - 030741A - Loan Negotiation- Sewer Lines & Water Mains Extentions, Garbage & Paving Service - 03/07/1941030741A
RESOLUTION
BE IT R .M.'BERED, that at a Recessed Recular I.:eeting of the City
Commission_ of the Ci ty of Lubbock, Lubbock County, Texas, held in the
pity Hall, on the .7th day of Larch, 1941, a quorum being present, upon
motion by Commissioner Jones, seconded by Commissioner I•lcl. illah,
the following Resolution was duly passed.
r EREAS, the City of Lubbock is =N enjoying a rapid growth in
population and many new residences and homes are now being built raithin
the Corporate limits of said City, requiring the extension of Sewer
Lines and '.later I,ains; and whereas, the City of Lubbock is paving many
new streets and expending sums of -money in marking said streets; and
1RE�1S, the demand for additional garbage service has been increased,
all of which has entitled and required the expenditure of substantial
sums of money; and
�IERrS, the City of Lubbock, at the present time is in great need
of :17,500.00 in cash to properly carry on the improvements named
above.
ITO-;l, TlzEREFORE, BE IT RSSOLVED by the City Comrlission of the amity of
Lubbock, Texas, that C.E. Slaton, Mayor of said pity, be and he is
hereby authorized and empo7,jered to negotiate a six (6) months loan
for the City of Lubbock, not to exceed 9`17,500.00 in cash, for the
purpose of making extensions of seiier lines, water mains, increasing the
garbage service and carrying on the paving of streets, and the said
C.E. Slaton, L:ayor, is further authorized and empowered to execute
ti2��e warrants t: be payable out of current revenue to evidence and
secure the payment of said loan. Rate of interest not to exceed 4%.
Passed and approved by unanimous vote
the 7th day of I4iarch, 1941.
pit t t
City ;tee cre tary.r
of the Ci y C mm' ssion, this
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