Ord 2239 5/27/1966 ORDINANCE NO. og,2,5 /
ORDINANCE PROVIDING A TEMPORARY LOAN IN THE AMOUNT OF
$400, 000 FOR THE PURCHASE OF BLOCK 257 OF THE ORIGINAL
TOWNSITE OF THE CITY OF WICHITA FALLS, AND DECLARING
AN EMERGENCY.
WHEREAS, by Resolution No. 642 dated May 11th, 1966, the
Board of Aldermen ratified a contract for purchase by the City
of Block 257 of the original townsite of the City of Wichita
Falls to be used for medical facilities either public or private;
and,
WHEREAS, in said Resolution a public hearing was called on
the 27th day of May, 1966 at 9:00 o' clock a.m. to consider the
adoption of an Ordinance providing for a temporary loan in the
amount of $400,000 under section 100 of the Charter of the City
of Wichita Falls, to cover the purchase price of said property
and the closing and other incidental expenses in connection
therewith; and,
WHEREAS, there has been public notice of at least two weeks
before this proposal was finally acted upon by the Board of Alder-
men.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF
THE CITY OF WICHITA FALLS, TEXAS, THAT:
Section 1. The City is authorized to borrow such sum of
$400,000 as a temporary loan under section 100 of the Charter
to cover the purchase price of said property and the closing
and other incidental expenses in connection therewith.
Section 2 . This Ordinance is declared an emergency measure
on the ground of urgent public need for the preservation of the
peace, health and safety of property of the City, for the reasons:
that the proceeds of the loan must be available in time for the
closing of the sale under the terms of the contract, and the sale will
probably be closed in less than thirty days.
PASSED,AND APPROVED this the 27th day of May, 1966.
44g#A; 40110!!/
May•r
ATTEST:
City Clerk