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HomeMy WebLinkAbout07-29-1949 Special Meeting• i MINUTES - SPECIAL MEET ING LA PORTS CITY COMMISSION -JULY 29, 1~9 10:00 A. M. 3 ~? Special meeting a~' the City Commissic~on was ~~lled to order by Mayor H. J. Pf®iffer, with the following members and pity offioials presents Commission- ers Jas. S. Crate, Jr., and Wm. P. Jooaes, and City C1®rk J. E. Muldoon. Motion by Janes, second by Crate, that the following Resolution be adopted: RES (X,UT ION THE STATE OF TEXAS ~ COUNPY OF HARRIS ~ CITY OF LA PORTS A RES OLIIT IO1V AUTHORIZING THE C a Y T 0 BORRO4~ ~5, 000.00 BY THE ISSIIANCE OF ITS "fAX ANT ICI PAT I Q+T NOTE FCR THE BITDGET YEAR OF 1~9-50. Wf~tEAS, it has been made knows to the City Commission of the City of Ie Porte, Texas, that a neoessity exists to borrow funds in. the amount of Five Thousand Dollars 05,000.00) for general administrative purposes and that snob amount is oonsistent with the anticipated oolleotion of property tax for such year; WHEREAS, the First National Bank of La Porte, Texas, has examined the fin- anoial status of th® City and is willing to make such los=t; NOS, TSEREFCRE, be it resolved by the City Comotission a~f the City of La= Porte, Texas, that the City Clerk be authorized to issue the negotiable note of the City to be designated s`rax Anticipation Note" for the budget year of 19+9-5©~ such note to be in the principal amount of Five Thousand Dollars ($5,000.00); to bear interest at the rata of 3% per cent per annum payable at maturity, axd to be due and payable on or before the end of the fisoal year; that said Hate be sold by the direotor of finanoe to the said First National Bank of La Porte, texas, at not less than par value. wlsen such Hate has been signed by the director of finance and o. slivered to said Bank with a duly authenticated Dopy of this re- 31~ soluticm, the indabtedneas thereby evidenced shall be fully binding against the City. I~ssed this 29th day of July, A. D., 1949, by a vot® of 3 AYES and Q NOES. APPROVED by the Mayor and attested by the City Clerk on said date. ATTEST: Signed J. E. Muldoon Signed $. J. Pfeiffer J. .Muldoon, City Clerk, amity of H. J. FP®ifFer, yor, ity of La Porte, Texas Porte, Texas Carried. Ths Commission instructed the City Clerk to oontaot the City Attorney and request that he write a resolution making eaoh Tuesday in the month a regular meeting. Motiaa by Crate, s®oaaid by Janes, that the meeting adjourn. Carried. 1 &. Muldoon, C~ La Porte, Texas r lark of the ity H. ®i felt,, or of the ity of I,e~ PorLt a „`Texas i,