HomeMy WebLinkAboutResolution - 040353A - Mayor Authorized To Renew And Extend Obligations With Depository - 04_03_1953 (A lS 64k
R E S O L . 0 T I O N
I
WHEREAS, the City Commission has heretofore authorized the
Mayor to execute the City's obligations dated 9-22-52 for $50, 000. 00;
9-29-52 for $2fl, 000.00; 11-14-52 for $100,,000.00; and 1-28-53 for
$154, 881. 25; totalling $324,,881.25; and the interest on said .obligations
amounts to the sum, $1,031. 00, to and including April 2, 1953, said advan-
ces having been made.. at an'interest ,rate of one per cent (1°JD); and it becomes
necessary to renew and extend such obligations until.funds from bond sales
have been received, said sums having been secured,through the City's Deposi-
tory, and to be charged against the Water Works Revenue Funds when received;
THEREFORE, I
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
THAT the Mayor BE, and he is hereby authorized to renew and
extend said obligation with'the Depository in the sum of $324, 881.25 at
one per cent (10/6) until the Depository, is reimbursed by the City as origi-
nally contemplated.
The sum $1, 031.00 above mentioned as interest is directed to be
paid to the Depository as of this date from the General Fund,
On motion of Commissioner Thomas seconded by
Commissioner Morris , this Resolution was passed this 3rd
day of April , 1953, by the following vote:
Commissioners voting "YEA": Norris Davis,Th'an�as & Mayor Tripp
Commissioners voting ",NAY": None
'M'UR EL TR NOR
ATTES
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Lay. nia Lowe, ty Se etary Treasurer
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VEW s v
4-2-53