Ord 2148 1/25/1965 ORDINANCE NO„
AN ORDINANCE AUTHORIZING A TEMPORARY LOAN FOR THE
PURPOSE OF IMPROVING, AND FURNISHING THE MEMORIAL
AUDITORIUM BUILDING°
WHEREAS, on January 11, 1965, the Board of Aldermen of the City
of Wichita Falls approved a contract with Miller & Holmes Construction
Company for renovation of the office space in Memorial Auditorium; and,
WHEREAS, on the same date the Board of Aldermen adopted Resolution
No. 586, giving public notice that, at the meeting of January 25, 1965,
an ordinance would be considered authorizing a temporary loan not to
exceed one hundred seventy-five thousand dollars ($175,000) , for the
purpose of improving and furnishing the Memorial Auditorium.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE
CITY OF WICHITA FALLS, TEXAS, THAT:
The Mayor or the City Manager is hereby authorized to borrow an
amount not to exceed one hundred seventy-five thousand dollars
($175,000) from the City National Bank in Wichita Falls under the terms
of the City' s depository agreement, for the purpose of improving and
furnishing the Memorial Auditorium Building, said loan to be for
one year, at an interest rate corresponding to the market rate of
ninety-one day U. S. Treasury Bills as quoted one week preceding
the execution of the loan.
PASSED AND APPROVED this the 25th day of January, 1965.
Mayor
ATTEST:
I
City Clerk
•