Ord 402 4/30/1922 ORDINANCE 500
VOL PAGE
"AN ORDINANCE ,AUTHORI r ITiG M 2RO V 1 DIUG .FOR A T L.2012 Y LOnL FOR
THE CITY OF rr ICHITA FALLS TEXAS NOT TO EMCEED THE SUY OF Q60,000.00
FIXING THE TER" S THE B02, ,DATE. OF E'AY1_7,- ?TN," RATEy3 OF ITS;TE;.EST AID IaCVID-
ITdG FOR AN ET�MGENCY"��-��' � �" "' � ; . • � _ � .� ' . ..
i
BE IT ORDAINBD BY THE BOARD OF _LLD!':�13,11 OF THE CITY OF UICHITA
FALLS :
SECTION I. The City of 'a'+ichita. Falls , Texas, is hereby authorized
and empowered to make a temporary loan of an amount of money, not to
exceed the sum of Sixty Thousand (Q60,000.00) Dollars , to bear interest
at a rate not to exceed the stun of 60 per 'Annum, from date until paid#
to be due and payable on or before the day of ` 19 -� `-
and the I' ayor of said City is hereby au norized to execute and deliver
all such instruments that may be necessary and proper for secaring and
obtaining said loan, on behalf of said City.
The fact that the current funds of the City have been exhausted and
that there is now outstanding an over draft of the city, creates an ur-
gent public need that this ordinance be adopted at once , in order that
fund be obtained to pay the running expenses of the city until the tax
money comes in, and this ordinance is hereby declared to be an emergency
measure and it shall become effective immediately upon its passage,and
it is so enacted, by a four fifths vgte of the Board of Aldermen of the
City. ._
Passed and approved on this the ' day of I JQ D. 1922.
Yay o r
ATTEST:-
Secretary