HomeMy WebLinkAboutResolution - 052451F - Amendment To Policy - Water_Sewer Contracts For Service Line Extensions - 05_24_1951 ,f '4,r)f F
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RFSOLUTIUN 2145 1 F
Y 6, the City Coraaission on April 20, 1951 passed a resolution estab-
lishing a policy yrith reference to the purchase of water and sewer contracts for
the extension of service lines; and,
IMBLAS, it is the disire of the City Coraiission to amend the provisions
of this resolution.
c NGJ THEREFORE, BE IT RESOLVED BY THE CITY CO1%11ISSION OF THE CITY OF LUBBOCK
THAT, the last paragraph of said resolution passed April 26, 1951 be amen-
d ded to read as follows:
That this sane ratio as above set out be used in determining the
percentage to be deducted from the total deposited for water and sev,Ur lines
vrhen any developer desires that the City of Lubbock buy their water and/or
swer contract in advance of the time designated in the contract between the
developer and the City of Lubbock, provided that in no case shall the purchase
price of these contracts purchased before the time provided in the contract,
exceed 75% of the face value.
A?d) IT IS SO OIUERED.
Passed and approved by the City Co=ission this -day of _ kig! ,
1951.
ATT-3T: Mayor
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