HomeMy WebLinkAboutResolution - 100339A - 60 Day Loan - Extending Sewer Lines & Water Mains, Garbage & Paving Services - 10/03/19394
RESO WTI uN
SSE -IT SEM.=BER"O, that at a L�ecess iLe�u-Lar Ieeting
of the City Commission of the City of Lubbock, labbook County, Texas,
held in the City .Mall, on the 3rd day of October 1939,
a quorun being present, upon mot=on by Coruni:�s oner r:cl•-�.1
seconded by Cocmiosioner Fortenberr;- the fol owe rag
Resolution was duly passed.
JU:RE43the City of "Lubbock is now enjoying; a rapid growth in
population end rm.ny new residences and hones sire now being built
within the corporate limits of said City, rewiring the extension
of Sewer Lines and yater Mains; and whereas, the City of Lubbock
is p-ving many na*,v streets and expending suns of money in narking
said streets; and, -►+hereas, the demand for additional garbage
service has been increased, all of which has entitled and required
the expenditure of substantial sums of money; and
<`�'fiE.Er�S, the City of Lubbock, at the present time is in great need
of 4')15,000.00 in cash to properly carry on the inpro.,Enents named
above.
NoW, Therefore, Be It Resolved by the City Commission of the pity of
Lubbock, Texas, that C.E. 31aton, Yayor of said City, be and he is
hereby authorized and empowered'. to negotiate a 60 day loan for the
City of iubbock, not to exceed V15,000.00 in cash, for the purpose
of raking extension of sever lines, water mins, increasing the
garb€,ge service and currying on the paving of streets, and the said
C.E. Slaton, W:ayor, is further autiLorized and empowered to execute
tine warrants to be payable out of current revenues to evidence and
secure the payment of said loan.. R'Ute of i, terest :lot to exceed 4A.
r`;ssed and approved by unanimous vote of ttie City Commission, this
0.
the 3_ rd day of 0ctoler ,`1 193-
IN t St
City Secretary.