1951-08-16 Regular Meeting - Laserfiche WebLink

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,~ , ~ ~. 526 STATE OF TEXAS COT~TTY OF HARIILS CITY OF LA PCRTE A RESOLUTION AUTHORIZING THE CITY TO BORRC~t X3,400.00 BY THE ISSUANCE OF THE TAS ANTICIPATION NOTE ~R THE BUDGET YEAR OF 195'1-~2. SRHFREAS it has been wade knaom to fhe City Commission of the City of La Porte, Texas, that a necessity exists to borra~ funds in the amcnjut of Three Thousand Dollars 03,440.40) for general admi.uistrative purposes and that such amount is consistent with the anticipated collection of property tax for such. 3~~'; ~PH~REAS, the First National Bank of La Porte, Tegas~- has axamined the financial statue of the City and is willing to malfle such loan; NUR, THEREFORE, be 3t resolved by the City Cammni.ssion of the City of La Porte, Texas, that the City Clerk be authorized to issae the negotiable note of the City to be designated "Tag Anticipation Note" for the badget year 1951-1952; such note to be in the principal sm,ount of Three Thaasand Dollars ~3,000.OU); to bear interest at tY:e rate of (3~) per cent per annum payable at maturity, and to be doe and payable on or before the egad of the fiscal year; that said note be sold by the Directe~ of Finance to the said First National Bank of La Porte, Texas,, at not less than par value. VPhen Bach note has been signed by the Direct<~ar of Finance and delivered to said Bank with a duly authr- enticated copy of this Resolution, the indebtedness thereby evidenced shall be fu]1y bdnding against the City. PASSID this 23rd der of August, A. D., 1951, by a vote of 3 AYES a~ud O NOES.ED by the Ma~ror and attested by the City C er~T"° an said da ems. ATTEST: S' ed J. E, Mul.docn Si ed H. J. Pfeiffer J. cLoon, Ci y er fei er, of e y o City of La Porte, Texas La Porte, Texas Recessed at 5:15 P. M, until August 21~th, 1951, at 5:00 P. M. AUGUST 2?~, 1951 5:0o P. M. Mayor H. J. Pfeiffer called to order the meeting which wa.s recessed at 5:li5 P. M. August 23rd, 1951, with the follov~ng members and city officials present: Com~,- issioners ~Ifm. P. Jones and M.D, Borgia, and City Clerk J. E. Yvldoon. After much discussion ari the purchase of a new fire truck, Commissioner Janes stated he would vote far the purchase of a neW f ite truck ,but he wanted it emphatically understood that before he voted he wanted same assurance that it 'could not be used at grass fires, only in the e~rent that improvements were iri danger from a grass fire. In that case, it would be used.