HomeMy WebLinkAboutResolution - 060938A - Notice Of Intent To Issue Interest Bearing Time Warrants - Street Improvements - 06/09/1938N
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On this, the 9th day of June, 1938, the City Commission of the
City of Lubbock, Texas, convened in regular meeting'in the City Hall, Frith
the following members thereof present to -crit:
C. E. SLATON,
,v. G. MckILLAN )
J. A. FORTENBERRY )
'JJ. G. PRICE )
HUB JONES )
Mayor
Commissioners
Lavenia Williams, City Secretary
Durwood H. Bradley,City Attorney
'44. H. Rodgers, City Manager,
with the following riembers absent to -wit: None; constituting a quorum,
at which time the following business �:as transacted to -wit:
The Mayor presented for the consideration of the Commission a
Resolution. The Resolution ,.vas read in full by the Secretary. Commissioner
'Y+. G. i1611illan made a motion that the Resolution be adopted. The motion
was seconded by Commissioner J. -. Fortenberry. The motion carrying with
it the adoption of the Resolution prevailed by the following vote:
AYES: Commissioners MIcMillan, Fortenberry, Price and Jones.
NOES: None.
The Resolution as adopted is as follows:
RESOLUTION
RESOLUTION BY THE CITY COivliISSION OF THE CITY OF LUBBOCK, TEXAS,
DIRECTING PUBLIC;TION OF 1�OTICE OF INTENTION TO ISSUE INTEREST BEARING
TIME '14ARRANTS FOR THE PURPOSE OF STREET I& PROVFIIENTS TO BE USED IN BUYING
AND PAYING FOR MATERIxL USED IN PAVING CITY STREETS.
bJHEREAS, the City Commission of the City of Lubbock, Texas,
has heretofore determined that it is to the best interest of the City
that certain Streets in said City be paved; and
WHEREAS., the City does not have funds on hand or under its
immediate control to pay for the necessary materials and labor needed in
making said street improvements, thus necessitating the issuance of inter-
est bearing time warrants; and
4HEREi�S, pursuant to the provisions of Chapter 163, Acts of the
Regular Session of the 42nd. Legislature, it is now proper that notice
be given of its intention to issue interest bearing time warrants.
Therefore,
BE IT RESOLVED BY THE CITY COi,MISSION OF THE CITY
Or' LliBBOCK, TLXAS:
1.
That the kayor be, and he is hereby authorized, ordered and dir-
ected to have inserted in a newspaper �;ublished within the City of Lubbock,
notice of the City's intention to issue said warrants in substantially
the following form:
NOTICE OF INTENTION TO ISSUE INTTEREST BEARING TIME '•iiARR4NTS:
Notice is hereby given that on the 24th day of June, 1938, the
City Commission of the City of Lubbock, Texas, will pass an ordinance
authorizing the issuance of interest bearing time warrants of said City
in the maximum amount of not exceeding ';;"50,000.00 for the purpose of
street improvements by the urchase of inaterial and the payment of labor
needed and necessary to ::lake such street improvements.
raid warrants shall bear a maximun, interest rate of not ex-
ceeding four per cent (401) per annum, and shall mature on or before
one year from their date.
This notice is given as required by law.
C. E. Slaton
i.ayor of the City of Lubbock, Texas.
2.
That said notice be published in said newspaper once each week
for at least two consecutive weeks prior to the date set for passing the
ordinance authorizing the issuance of the warrants, the date of the
first publication to be at least fourteen days prior to the date set
for passing said Ordinance.
3.
CThat the ivayor be and he is hereby authorized, ordered and
directed to do any and all things necessary and/or convenient to the
adoption of this Resolution.
,adopted and approved this
City Secretary