HomeMy WebLinkAboutR-1964-34
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RESOLUTIoN' NO. 34-64
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. STAT~ ;.qETEXAS ;.., X
CGtlN'I'YQF :~iARRIS .,1
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R.8S0LVT:eIDN' 'A~RIZING .THE 9;~TY OF LA PORTE TO ~OAAOW THE SUM OF
.t~......,. BOUSAltD SIJt H1JNJ)1U:D,~'~' ;;.. .-",~ - --- -- - - -. - - :.. .. - - - DOLLARS
($15,6OQ,;BQ , " .).,.'1'd,~~,EV.IJ;)ENq~DB~ TAX,;, ANTI(JIPATION NOTE, PAYABLE
OUTOF~~T TAXES', COLLE.C.'rED 'l;>URING 'THE FISCA;L YEAR ,B~GINNING
JULY 1, f~4;. AND ENDING,'JUNE 30, 1~65.
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~ rmE~SI.~tit;1' ita:s be'Eii\ dete:~~iped by the .q.iJy CommIssion
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of ;the C:ity""~of La'..'Porte' that., a neces~ity exist.s to bOrrow the sum
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of
;r,.:.;F/~ TrloU?ANfi':,'i$I'l<',M'A.1ol<.{:D -------.....-.- Dq11ars
, ($ 15.~Cc.);if!!?- ), and that;. the, an tic ipl3.ted curren-t,;revenues 'from
ad va10:r;em taxes will ~mount to ap~ro~iinat~,~?" TH1~~~A-)r>(~~:-;-::,71'-'Cf')...!fZ;~,'lT
'-r~G1"1VD ,I &/~hr /Jv/LJ~4? FOf~71 Six., . "/::'~liars ($ :128/ "iSU,tc) ; '~,
and
WHEREAS, the La Porte State Bank at La Porte, Texas, ha,~
agreed to make the City loan ", said to be paid 'with three
a ~n sum, ..
"(3%) 'interest t" ..
per cent. per annum thereon, on" or ....before the 30th
day of' June, 1965; and
wRE~S,' the 'city w~11 have current revenues f.~o~ the col-
lectionof said tax,es available and sufficient to pay saJ.d ob1iga~
tion at maturi~y:
H'
NOW, THEREFORE, BE IT' ,:iU;SOL~D BY mE CITY COMMISSION OF
THE CITYO;F;':LA PORTE, TEXAS, that the' Mayor. and tJj~ City Clerk
(Directo'r of Finance) be authorized to issue a promissory note of
the City of La Porte, to 'be de'~:dgnat'ed IrTax An'ticipation ,Note for
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the. Fiscal Year beginning July: 1, ,1964, and ending June 30, 1965",
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such note to be in the pr~ncipa1 sum of ~/F~ ~~L/~AJ[)
SIX IJu;UP~D ..,...-----.. ----D611ars ($/S ~CC' ;'~ ), to bear
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interest at the ra'te of. th~ee per cent. . (3%>:' per annum"'unti1 ma-
turity, with the usual provision for.interest at the rate pf six
per cent. (6%) per annum on past due principal and 'interest and
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RESOLUTfON,~.34.~64
. PAGE 2 0(2
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ten per cent.
(10%)~'t'to'r~eyi:s fees,:-'~~c.~ iiip:te to be dU:~', and pay-
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able ono'r ::QefCi),r'e the: 30th 'day of June, l:9'6~, tha,t sa'id note be
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sold by the, City of La. Porte to ,the La. Porte stat~ Bank, at La '-'
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.'.-' .~" . . .', }' ".:.. . 10 .
.' Port.~' Taxe~ ,'a t net .1e"loa., than par ~val1:ie :' "., When 'such note has been .:'" .
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. duly-e~t:uted by tI:'e' Ma.yor anciidity C1e'~k 'and d~,1ivet~d t;:o sa,~i.d
Bank with a copy of this r'esolution" SU~ inda"Qtedne,ss thereby
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. evidenced ,~ha11 b~ f~i1y >bind"i~~"',\lP,On'''the' City; and
,.... BE LT FliRT:KER ~$O~NEO tlJat the, City'. df. La Porte 'her~by ,
,apPrDPriat;,~s and .' se~a.side" tl1,~i~;<~~m: oi.;', H6F'ri:f~T HouS/tA.J DS,~
J.JvA-iDRt--t~':"- D61~~~S:: '($'I~C}~.,:~ .; "out of, the cur~eriu .:r:evemi~'S,
from the collection of a.Q'va10r.:em ,..t~xes for tn~; paymen~ of' such'
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,
, 'indebtedness.
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AND 'IT IS. SO QifuERE'D .
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APPROVED AND PASSE'D,this.the
1964, b'y',:.theCity Commission.
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Porte,
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~W~:, //~.CY .'., ...Ii
Lb,x</ /tJ~iY/J4?7?~
City Clerk of the City or LaPorte, .
Texas
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B...olutioa Ro. 34-64
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. TAX ARTICIPA'II(IC RO'rB
,FOB.'l'RI,YBlB.,1964 ~;J.I'S
FISCAL'YlAR BEGINMING
JULYl.. 1964. ElfDING JUNE 30. 196.5
$15.600.00
Date: October 21, 1964
'I'he ~lty Df La Porte, Tesa., actiq by and thl'oush i'ts duly
authorbed officera,. for value received, prOaliaes to pay to the order
of the La Porte State lau at La Porte, Te.B, the .UIIl of FIrruN
THOUSAND, SU HUNDRED DOLlARS ($1.5,600.00). with intereat at the rate
of thr.. pl!r cent - (~') peT annUID, on or before the 30th day of June.
1965.
All paat'due principalaad intereat aha 11 bear interest at
the rate of .1x per cent (6~) per annum.
It is hereby .pecially a.reed that if tbb note 1s placed
in the ba&.d' of, an attorney for collection. or if collected by suit or
throulb Probate or Iaakruptcy Court. wa air.. to pay ten per cent (107.)
addid.oD&l on the principal and i.QteTest thea due hereon. a. attoraay' a
fe.a.
A copy .f the ..aolutioa .utbori&~na tbe borrowinl of the
sum of FInuN ~. SIX RUNDPD DOWIS ($15,600.00) and tbe
i.suance of th1s note 1. hereto attached.
C 1ft OF lA 'oaTI. TlXAS
BYI
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T..s
ATUST:
{~;.~7'<<?~'~
City Clerk of the' ~1ty of La Porte. Te.s
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