1953-09-18 Regular Meeting - Laserfiche WebLink

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158 C~ Motion by Rigby, seaoaad by White, authorizing the City Attorney to draw an Ordinance governing parallel parking, Eros 4th Street to Broadway, and from nE" to "G" on Broadway. Carried. Motion by ~thite, second by Rigby, that the following Resolution be adopted: STATE (&' TEXAS COUNTY OF HARRIS CITY OF LA PORTS Q A RESOLUTION ATJTHJRIZ]NCr THE CITY TO BQ~OAF X5,000.00 BY THS ISSIIANCE OF A TAX ANTICIPATION NCB E FfR THE BUDQET `.BAR OF 1953-fit. NH3$.EAS, it has been made knoimby the City Commission of the City of La Porte, Texas, that a necessii~r exists to borrvR funds in the amount of Five Thousand Dollars 05,000.00) for general administrative purposes and that such amount is consistent with the anticipated collection of taxes for such year as follows: property tax, Seventy Five Thousand Dollars ($?5s~•00)s' ~HE~~EAS, the First National Bank of La Porte, Texas, has examined the financial status of the City and is walling to make such Icon; and SEAS, the City will have current revenues in the anourrt of Five Thousand Dollars 05,000.00) to ay such note at maturity, and the suu of FS.ve Thousand Dollars (~5,000.00~ is hereby set aside with which to pay said note at maturity; NCAlff, THPREFORE, BE it resolved by the Gity Ca®3.ssion of the City of La Porte, Texas, that the Assistant City Clerk be authcri.zed to issue the negotiable note of theCity to be designated "Tan, Anticipation Note fooc the Year 1954, (Budget Year Beginning July 1, 1953, ~di.ng June 30 1954)"; such note to be i.n the principal amo~mt of Five Thousand Dollars (5,000.00); to bear interest at the rate of 3$ per amutm payable at maturity, and to b e due and payable on or before the end of the fiscal year; that said note be sold by the Assistant Director of Finance to the said F.I.rst National Bark of La Porte, Texas, at not less than par value. 1Khen such note has been signed by the Assistant Director of Finance and delivered to said Bank with a duly authez:t3.cated copy of this resolution, the indebtedness thereby evidenced shall be ful'~y binding against the Ci'~Y. PASSED this l8th day of September, A. D., 1953, by a vote of 3 AYI~ and Q NOES. APPROVED by-.the Mayor and attested by the Assistant City Clerk on said date. ATTEST: (Signed) Mgrs. Eul.a Eiwj.n (Signed) M.D. Burgin s. a , ss s an y e' n: ~'~' '~: