HomeMy WebLinkAbout1952-08-05 Special Meeting.: .:.
- ~1
- ~ •
'~LPIIJTES - SPECIAL t~~,TING
'~ LA PORTE CITY COIu1~SSIC~t -AUGUST 5, 1952
:10 P . LT.
~, . Special meeting of the City Commission was called to order by f_gayor I~'. D.
. Burgin, with the folloiv~.ng members and city officials present: Commissioners
L. R. Rigby and Robert A, ti''Thi.te, City Attorney 1dz~ard J.Cade, and City Clerk
J. E. Iduldoon.
ISotion by ;'Thi.te, second by Rigby, to appoint the First National Bank of La-
Porte as the Cityts Depository Bank, and instructed theCity Attorney to dray
a contract with the bank authorizing the ISayor and the City Clerk to sign same.
Carried.
The City Clerk read a Resolution in full, and upon motion by ~'~Yiite, second by
Rigby, was passed and approved, to ~-it:
.. Rr~SOLUTION
STATE OF TEX~LS
COUNTY OF HARRIS
CITY OF LA PCRTE
:'~ :. .
A RESOLUTION AUTHORIZING THE CITY TO BORRA~V X5,000.00 BY THE ISSUANCE OF
A TAX ANTIC:lPATION NOTE FOR TI'~E BUDGET yErR OF 1952-53.
V'ni~EAS it has been made known to the City Commission of the City
of La Porte, Texas, that a necessity exists to borrow 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 far
such year as follows: property tax, Seventy-Five Thousand Dollars ($75,000.00);
.. ~ tiRT_HrR.EAS, the First National Bank of La Porte, Texas, has examined
the financial status of the City and is willing to make such loan; aril
Z1HkREAS, the City will have current revenues in the amount of
Five Thousand Dollars 05,000.00) to pay such note at maturity, and the
sum of ~`i.ve Thousand Dollars 0$5,000.00) is hereby set aside with which
- to pay said note at maturity;
,~~
NC~r~T TIiER1Ft1RE, be it resolved by the City Commission of the City
of La Porte, Texas, that the City Clerk be authorized to issue the negotiable
~2 i
note of the City to b e designated "Tax Anticipation Note for t1~ Year 1953,
(Budget Year Beginning July 1, 1952, Ending June 30, 1953)"; such note to
be in the principal amount of Five Thousand Dollars (;5,000.00); to bear
interest at the rate of 3~ per annum payable at maturity, and to be due and
payable on c¢~ before the end of the fiscal year; that said note be sold by
the Director of Finance to the said First National Bank of La Porte, Texas,
at not less than par value. ~rhen such note has been signed by the Director
of F`9.nance and delivered to said Bank vrith a duly authenticated copy of
this resolution, the indebtedness thereby evidenced shall be fully binding
against the City.
PA.SSID this 5th day of August A. D. 1952, by
a vote of 3 AYES and 0 NOES. APPZOVED BY the T:Sayor and
attested by the City Clerk on said date.
Carried.
IaTotion by ;~rhite, second by Rigby, to adjust the City Boundary 1i nes to
include only the territoz~y arithin the boundaries of the original city limits
as shown on map recorded in Volume 8, on Page 16, of the I~tap Records of
Harris County, Texas, the territory described in Ordinance No. 375,
annexed to the City of La Porte, Texas, on ?:-iay 2~., 19t~9, the territory
contained in the Spencer Highway west as far as the municipal airport,
and the territory contained in the La Porte ~Sunicipal l~irport; to collect
taxes on the relinquished territar~y for the year 1~1 only, tixrithout pen-
alites; and to pass the ordinance at the coming regular meeting of the City
Comni.ssion.
Tiayor Burgin requested that his vote be registered as "No" to this motion.
~7hi.te voted "Aye," Rigby "Aye," and Burgin "Ido."
lotion Carried.
T~dotion by Rigby, second by ~Thi.te, that the meeting adjourn.
Carried.
AT ST s
.,~.G~,~-...J
. I:Suldoon, City lark of e i y ~. g, y y
of La Porte Texas La ;,Porte Tnexasa or o z o
~~ ~