HomeMy WebLinkAboutORD 426 - ORD Repelling ORD 397 on Sept 13, 1948
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ORDINANCE NO. 426
AN ORDINANCE REPEALING ORDINANCE NO. 397 HERETOFORE PASSED BY
THE CITY COMMISSION OF VVEST UNIVERSITY PLACE, TEXAS, ON SEPT-
ElI.ffiER 13th, 1948, SAID ORDINANCE NO. 397 HAVING AUTl'IORIZED
THE BORROWING OF $15,000.'00 FOR THE CONSTRUCTION AND IMPROVE-
MENT OF STREETS IN SAID CITY AND THE PLEDGING OF THE PROCEEDS
OF CERTAIN STREET IMPROVEMENT BONDS TO SECURE SAID LOAN.
VVHEREAS, her~tofore on September 13th, 1948, the City Commission
of the City of West University Place, Texas, passed and approved Ordinance
No. 397, of said City, which authorized the borrowing of $15,000.00 by said
City from the City National Bank of Houston, Texas, for the purposes of con-
struction and improvement ,of the' streeMof the City of West University Place,
Texas, and
.' WHEREAS, said contemplated loan was never made because of the fact
that funds became available to the City from the sale of $165,000.00 Street
Improvement Bonds, ano. ;
WHEREAS, no necessity remains for the continued authorization to
borrow said $15,000.00,
NOW THEREFORE~ Be it ordained by the City Commission "of the City of
West University Place, Texas, that Ordinance No. 397 of the City of West
University Place, Texas, as heretofore passed on September 13th, 1948, be and
the same is hereby repealed and held for naught.
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Passed and approved this 25th day of October, 1948, by a vote of
3 ayes and 0 noes.
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