HomeMy WebLinkAboutResolution - 072739A - 60 Day Loan - Extending Sewer Lines & Water Mains, Garbage & Paving Services - 07/27/19394
RESOLUTI ON 0-742739A
BE IT REMMIMBERED, that at a Regular lbeting of the City Commission
of the City of Lubbock, Lubbock County, Texas, held in the City
Hall, on the 27th day of July, a quorum being present, upon motion
by Commissioner rortenberr__, seconded by Commissioner
Jones , the following Resolution was duly passed.
'vVEEREAS, the City of Lubbock is now enjoying a rapid growth in
population and many new residences and homes are now being built
within the corporate limits of said City, requiring the extension
of Sewer Lines and Water 11ains; and whereas, the City of Lubbock
is paving many new streets and expending sums of money in marking
said streets; and, )Vhereas, the demand for additional garbage
service has been increased, all of which has entitled and required
the expenditure of substantit.l sums of money; and
T1df3EREAS'the City of Lubbock at the present time is in great need
of 416,000.00 in cash to properly carry on the improvements named
above.
NOW, therefore, Be It Resolved by the City Commission of the City of
Lubbock, Texas, that C.E. Slaton, Mayor of said City, be and he is
hereby authorized and empowered to negotiate a 60 day loan for the
City of Lubbock, not to exceed $16,000.00 in cash, for the purpose
of making extension of sewer lines, water mains, increasing the
garbage service and carrying on the paving of streets, and the said
C.E. Slaton, Mayor, is further authorized and empowered to execute
time warrants to be payable out of current revenues to evidence and
secure the payment of said loan. Rate of interest not to exceed 4 o.
Passed and approved by unanimous vote of t e 1 Commi Sion, this
the 27th day of July, 1939.
r
Ate t
city secretary.