HomeMy WebLinkAboutResolution - 091240B - 6 Month Loan - Extend Sewer Lines & Water Mains, Garbape & Paving Services - 09_12_1940 k 0q1240B
RESOLUTION
BE IT REMEMBERED, that at a Regular Meeting of the City Commission
of the city of Lubbock, Lubbock County, Texas, held in the `pity Hall,
on the 12th day of September, 1940 , a quorum being present, upon motion
by` Commies Wieser Jones seconded by Commissioner Price the following
Resolution was duly passed.
WHEREAS, 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, requ�ri.ng the extension of Sewer Lines
and Water brains; and whereas , the Uity of Lubbock is pav ing many new
streets and expending sums of money in marking said streets; and
WHEREAS, the demand for additional garbage service has been increased,
all of which has entitled and required the expenditure of substantial
sums of money; and
0
WHEREAS, the city of Lubbock, at the present time is in great need
of 425,000.00 in cash to properly carry on the improvements named
above.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Luba:Oak, Texas, that C.E. Slaton, Mayor of said City, be and he is
qo � "'here ` authorized and empowered to negotiate a si.x-W ):months=^loan for
Seo the City of Lubbock, not to exceed $25,000.00 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 revenue to
evidence and secure the payment of said loan. Rate of interest not
to exceed 4,5.
Passed and approved by unanimous vote of the City Commission, this
72i-h_. day of _ September _, 1940.
UkYOR
Attest:
ity Secretary.r