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<br />~' ~`.:~ notion by Osburn, second by Brown, tl.at the following be appointed to
<br />=~~' the Zoning Cormission: Jerry* L'iniegra to replace I, Leon SrrL.th; Don
<br />~' l;~ingle to replace :~ryan Lertram; Eu one nleeks to replace J, B. ?~ellogg;
<br /> and Jack Lawler to ror+l~±ce Verda Kelly.
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<br />,~ Carried,
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<br />~'~~ I-lotion by Os~~uriz, second by Stabs, tl~a.t trio following :Zesolutior_ be
<br />~?5 adopted:
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<br />,~~, rTATE OF TEir.A~S
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<br /> COUNTY OF 'riAi~P~:IS
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<br /> A :?FSOLUiIO~? AtJTHOP,,IZING T~iF 'CITY OF LA POr'TE TO ::?ORROt=,, TIT SIJ?'I OF TiJO
<br /> THOUcr~rm DOLLAP~ (`„2,000.00), TO B~ rVIDBP?CED BY TAX A?^1ICTPATION NOTE,
<br /> PAYABLr, Oul OF r''u~R~T?T TAYFS COLLFCTLD DUI~l NG Try FISCAL ~I,~~ B,~GINPf-
<br /> IT~?G .TtZY 1, 1960 ATvD LTdDI~?G ~~?E 30, 19F1,
<br />~nl~,~ ~S, i :: has been ~ietern~ined by the City Commission of
<br />t're ,^, ;;,- of La D~rte that a reces^ity exists to borrow the sam of Two
<br />Thousand Dollars (`";2,000.00), for ge,~era1 administrative purposes
<br />and that the anticipated current revenue from ad valorem taxes will
<br />amount to approximately 'i"s.~Q HtTT~R1?D TTr~P~'TY-TI-~"??,;~~~ T:~?OrJSt'~T~?T T?~'0 HL'ND~4ED
<br />DoLLru s 0;223, zoo, oo );
<br />ar~d
<br /> the First IvTational rank of La Forte, Texas, has
<br />~~tli~iEAS
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<br />agreed to make the City a loo-~ in said sum, to ?~e paid, ?.*ith three per
<br /> cent (3 ~} per an~am interest thereon, on or before the 15th day cf
<br /> February, A,D, 1961; and
<br />%~ i•~?~F.c,AS, the City Drill have cur. rent revenues from the coll-
<br />-~ ection of saic: taxes availa:~le and sufficient to ~~~~ :~.~d oblioa.tion
<br />9`";~ a ~ :raturity:
<br />,p T1Gti^a, TTiF,Ei Ord;, ~.. IT iwSGL'u~D D'z Tim CIfi1 CO?~•1~IISOIOPa Or
<br />'~~ ':~~n.5 trot the Favor a.nd the City Clerk (:~:'iraotor
<br />iiu CITY OF :LA PO~~TF
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<br />~' ti, T not e of -the City of
<br />of _ina,nce~ .e authorized to is sue a promisor,. J
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<br />. La forte, to be designated "Tax Anticipation Note for the Fiscal
<br /> Year beginning July 1, 1~b0 and ending June 30, 1961", such note to
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<br />,~0 be in the principal sum of Tiro Thousa_~d L`o1:1_ars {~k2,000.00), to bear
<br />.~ interest at, th.e rate of three per cezrt, (37) oer annum until matu city,
<br />G.J with the usual pro ~i.sion :°or interest at the rate of six per cent
<br />~'- {6;~) per annum on past due principal and interest and ten per cent
<br />;~ {107) attorne~~'s fees, suc_i note to be due ar~d payable on or before
<br /> the 15+J'i da~r of Fe,:~ruary, A .D, 191, that said note be sold by tTie
<br /> Ci'cy to the ?irst Tdational Bank of La '-'orte, Texas, at not less than
<br /> par value. l~i~len ~:uch no [,~; has been duly executed ny the ?`'.~~;or and
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<br />, City Clerk and delivered to said :3ank, ~.d.th a copy of this resolution
<br />~ such indebtedness ±nere'o~= evidenced shall be f ally 'rinding upon the
<br />~ City; and
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