HomeMy WebLinkAboutResolution - 091053G - Water Rights Acquisition- Citizens National Bank- 1770.75 Acres, Lubbock County - 09_10_1953 q ,
R E S O L U T I O N
i
WHEREAS , the City Commission, during the latter part of 1952 and
during 1953, from time to time had meetings to discuss the nature of the City's
Two copie water needs, and on occasion the problems involved were presented to the
given Cit Water Board, and the Commission was from time to time kept fully informed
Auditor concerning progress being made to acquire water rights, and commitments
' I were made to purchase approximately 1770. 75 acres of land in Lubbock County
9-15-53 consistent with the City's required development of its water system; and,
WHEREAS, it became necessary for the City to raise funds to close
out these purchases prior to receipt of funds to be produced by the sale of
bonds, a portion of which were to be sold for this purpose, and which receipt
had in part been delayed by the City Commissionts determination not to sell
the bonds at the time the sale was planned because of an unfavorable bond
market; and,
W HER EAS, the City Commission did in fact authorize the Mayor to
execute the City's notes for the total amount of $324, 881.25 to be used for this
purpose pending receipt of the bond funds, as follows:
$50, 000 September 22, 1952 from Citizens National Bank for down
payment on 1170. 75 acres of land;
$20, 000 September 29, 1952 from Citizens National Bank for down
ayment on 600 acres of water rights;
100, 000 November 14, 1952 from-Citizens National Bank for last
ayment on the 600-acre water right purchase; and
154, 881. 25 on January 29, 1953 from Citizens National Bank for
the balance due on the 1170. 75 acres of land; and
WHEREAS, in April, 1953 the Commission approved.the purchase and
ratified and confirmed all previous transactions relating to these water rights
in all of Section Eighteen (18) and that portion of Section Seventeen (17), Block
'D-5, Lubbock-County, Texas, that lies South of U. S. Highway 84, containing
1170. 75 acres, and all of Section Forty-Four (44). Block P, Lubbock County,
Texas, except the Northeast One-Fourth of the Northeast One-Fourth of said
section, containing 6.00 acres; and,
W HER EAS, the notes previously executed and above referred to were
consolidated in one note on April 3, 1953 and paid on June 19, 1953, which was i
duly authorized by the Commission in regular meeting on June.25, 1953, and
the Citizens National Bank was paid a total of $325, 576.50, including $695. 25
interest at one per cent C1% , the principal amount having been paid out of
Water, Sewer and Electric (Water) Bond ,Funds and the interest having been
paid out of the General Fund; and,
W HE R EAS, Walter L. Herrin has duly conveyed to the City of Lubbock
water rights pertaining to the .600 acres above described out of Section 44,
Block P, and title' to the 1170. 75 'acres', being all ,of Section 18 and that part of
Section 17 in Block D-5 hereinabove described., and the bank was repaid the
money borrowed by the City, as above referred to, and said land and water
rights were purchased by and with the money obtained by execution of the City's
note by the Mayor; and,
W H ER EAS, as a part of the above mentioned program the City was
unable to purchase water rights under one section of land which it desired, but
did succeed in purchasing 249.4 acres of waterrights from Fred Gerlach et ux,
located adjacent to a part of the above described,land conveyed to it by Walter
L. Herrin, which transaction:was not completed until after receipt of the bond
fund under the terms of agreement with the seller; and,
W HER EAS, it appears that the records and minutes of the Commission
are incomplete and the Commission desires to correct and complete its min-
utes and.records to reflect the facts; 'T HER E F O R E ,
BE IT RESOLVED ,BY THE CITY COMMISSION OF THE CITY OF LUBBOCK-
T HAT the foregoing statement of'fact BE, and the same is hereby in
all things adopted, approved, ratified and re-affirmed, and the Commission
hereby re-affirms the purchase of the land and water rights and re-affirms
the authority previously given to each officer and employee relating to each
and all of said transactions which resulted in the purchase of said water rights
and land in the amounts per acne and for the purposes 'stated in the preamble
of this Resolution, and directs that its minutes stand approved according to this
Resolution.
AND IT IS SO ORDERED.
On motion of Commissioner Carpenter , seconded by
Commissioner Thomas , this Resolution was approved
and passed on this 1() day of Sert , , 1953, by the following vote:
Commissioners voting "YEA": Morris . Carpenter, Davis and Thomas
and Mayor Tripp
Commissioners voting "'NAY": None
v _. iJ R.,. R ,'�viayor`�
ATTEST:
Laveni Lowe, City S creta.ryTreasu.rer
VEW:sv
9-9-53
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