HomeMy WebLinkAboutResolution - 032758B - Agreement-Citizens National Bank Of Lubbock- Financing, Various Paving Projects - 03_27_1958 F:sam
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RESOLUTION
WHEREAS, the City of Lubbock has entered into paving contracts with it
various paving contractors for various paving projects. in the City of Lubbock, 4
Texas, and it is necessary for the City to have available funds to pay the $
proportionate share of the City of Lubbock covering expenditures for said
paving improvements, it is now necessary to finance said paving projects and i
make available therefor the sum Hof FIFTY THOUSAND AND N0/100 ($50, 000. 00
DOLLARS; NOW THEREFORE
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
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* , SECTION 1. THAT the Mayor BE and he is hereby authorized, for the
> r' fiscal year, to execute an agreement with the Citizens National Bank of Lubbock
to take up, renew, extend and pay .its proportionate part of the paving program
and for property received by the City for paving improvements and acquired
by it for such purposes in the amount of FIFTY THOUSAND AND N0/100
($50, 000. 00) DOLLARS the City at the earliest practicable time to issue time
warrants to the Citizens National Bank, Lubbock County, Texas, bearing no
interest, said warrants to be in the principal sum of TEN THOUSAND AND NO/l
($10, 000. 00) DOLLARS each, payable over a period of five (5) years; that the
first warrant payable on or before April 20, 1959; the second warrant payable
on or before April 20, 1960; the third warrant payable on or before April 20,
1961; the fourth warrant payable on or before April 20, 1962; and the fifth and las
warrant payable on or before April 20, 1963.
On motion of Commissioner Casey , seconded by Commissioner
Maxey , this resolution was passed on the 27th day
of March, 1958, by the following, vote:
Commissioners voting "AYE": Y4yor Forrest and Co=aissioners Baker, Byrd, i
C a.s ey and Plaxey
Commissioners voting "NAY": None
MAYOR P
ATTEST:
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.�" Ci,y �--.tt? rr:, Cih/ Attorney
City Se retary--Teeas rer
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CITY OF LUBBOCK
MEMORANDUM.Inter Office
TO: J. A. Maynard, Right of Way Department Date March 31, 1958
FROM: Fred O. Senter, Assistant City Attorney
SUBJECT: DEED TO SAM A. LEMONS Our File No. W-4-11
Please find attached hereto a Warranty Deed from the City of Lubbock
to Sam A. Lemons , with a consideration of $64. 00, as requested
by your memo dated March 21, 1958. Also attached please find
Resolution authorizing the Mayor to execute said Deed.
Z�,;' e
/Mr
FRED O. SENTER, JR.,
Assistant City Attorney
FOs:sam
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