HomeMy WebLinkAboutResolution - 042651A - Set Pymt. Ratio - Developers Wishing COL To Buy Water_Sewer Contracts In Advance - 04_26_1951 OqZtpSf
R E S O L U T I O N
WHEREAS, the City of Lubbock reimbursed Dr. A. H. Rogers
the amount of his deposit for the construction of Water and Sewer
lines in Blocks 1 to 6, inclusive and Block 9, Karlin Park Addition,
less twenty-five (25%) per cent, (of record at Page 37, Minuet Book
10), this reduction being made in consideration of the reimbursement of
this deposit four to five years in advance of the time for reimbursement
agreed upon in the contract; and
WHEREAS, this subdivision was approximately sixty—five (65%)
per cent developed at the time this refund was made; and
VHEMAS, it is the desire of the City Commission to base all
such refunds on the ratio of the per cent discount to the per cent
development as used in the reimbursement of the Dr. Rogers project;
NMI, THEREFORE, BE IT RESOLVED BY THE CITY COKNIISSION OF THE
CITY OF LUBBOCK, TEXAS
That this same ratio -,as above set out be used in determining
the percentage to be deducted from the total deposited for water and
sewer lines when any Developer desires that the City of Lubbock buy
their water and/or sewer contract in advance of the time designated in
the Contract between the Developer and the City of Lubbock.
PASSED AND APPROVED THIS THE, 26th day of April, 1951.
J
Mayor
ATTEST: `
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City ecr'eta ry
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