HomeMy WebLinkAboutORD 372 - ORD Authorizing the Purchase $40,000 of Swmming Pools Bonds
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ORDINANCE NO. 372 V'.
AN ORDINANCE AUTHORIZING THE CITY TO PURCHASE $40,000.00 OF SW])lliIING POOL BONDS,
OUT OF UNAPPROPRIATED SINKING FUNDS; NAMELY THE TAX REVENUE SINKING FUND AND WATER
REPLAC1~MENT FUND AND SEINER ,REVENUE SINKING Frn~D; AND PROVIDING 'IHAT THIS ORDINANCE
SHALL BE EFFECTIVE INDKEDIATELY UPON PASSAGE.
~~EREAS, by Ordinance No. 366, passed and approved March 17, 1948, the City COID~ission
authorized the issuance of Swimming Pool Bonds in the anount of $40,000.00; and
WHEREAS, said bonds have now been approved by 'the Attorney General of the state of
Texas and registered with the State Comptroller of the State of Texas; and
WHEREAS, the City has funds available in the TaN: Revenue Sinking Fund and the Water
Replacement Fund and Sewer Sinking Fund, for the purchase of the SwimmIDng Pool Bonds,
THEREFORE, BE IT ORDAINED. BY THE CITY COMMISSION OF THE CI:ex OF WEST UNIVERSITY PLACE,
TEXAS, THAT:
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That the City purchase the $40,000.00 Swimming Pool Bonds with funds drawn from
the following accounts, in the amounts indicated:
Tax Revenue Sinking Fund
$ 25,000.00
Sewer Sinking Fund
City National Bank Trust Receipt
#4807 6/2/47 U.s. Bond #994
5,000.00
Water Replacement Fund
Certificates of Deposit 1546-l547
4/l0/48
10,000.00
$ 40,000.00
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That the City Treasurer and City Secretary be, and they hereby are, authorized
to take any necessary action in the transfer of funds or any other action required
to complete the purchase of the bonds as above provided.
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The fact that it is necessary to let a contract for the construction of the
bathhouse at once, creates an emergency, and this ordinance shall become effective
immediately upon passage.
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ATTEST:
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CITY SE-' Y