Ord 383 9/3/1921 A
AUT ORDINANCE AUTHORIZING AND PROVIDING FOR A TE11PORAR��,'2 O FOR
T�'HT'�ING
CITY OF WICHITA FALLS TEXAS NOT TO EXCEED THE a71�� OF ? 2 jA ---
THE TERIIS THEREOF, DATE OF PAYI',1ENT,RATE OF INTEREST AND PROVIDIN FOR
AN "RGENCY. '
BE IT OP.DAIN"[) BY THE BOARD OF ALDE'RHEN OF THE CITY OF 'JIHCITA BALLS:
SECTION 1. Tile City of ;Wichita Falls, Texas, is hereby authorized and
empowered to make a temporary loan of *an. amount of money, not to ex-
t
-c-eed the sum of Two Hundred Thousand ( ,,200,000.00) Dollarspto bear
i
interest at a rate not to exceed the slam of C� per aniram0from date until
il
paid, to be due and payable on or before the 31st day of :March 192.2.
and � the 1, ;,Iyor of said City is hereby authorized to execute and deliver
all such instruments that may be necessary and proper for securing and
obtaining said loan, on behalf of said City.
The fact that the current funds of the City have been exhaust-
ed and that there is now outstanding an over draft of the city, creates
an urgent public need that this ordinance bo adopted at once, in order
that funds be obtained to pay the running expenses of the city until
the tax money comes i.n, 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 vote of the Board of
Aldermen of said City.
Passed and arproved on this the day of
A.D. 1921.
Hayor,.
21
Secret9.ry.