San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1893-08-10
TO CANCEL THE DEBT.
The Ordinance Adopted by the City
Council Relative to Finances.

COUNCIL helatlVe TO FINANCES.
BE it ordained by the city council of the
city of San Antonio;
| Section /. That whereas, at an cleo
| tion duly and legally had In and for the
city of San Antonio on the LIST day of
| August, 1893, it was decided by a majority
vote Of the property taxpayers, voters In
| said city, that the city of San Antonio
ShO lid borrow the sum of $4,000 and
| issue negotiable notes therefor, the
proceeds Of such notes to be used for
the payment of the debt due by the
bank, each of the said notes
TO be of the denomination of $4,000 and
| each to be dated August 10, 1893, six notes
payable on or before one year after their
date, SIX payable on or after two years
after their date, six payable on or before
three years after their date and six paya-
BILE on or before four years after their
date, and each note to bear interest at
per cent. per annum, payable semi an
nually. principal and interest payable in
San Antonio, Tex, and
Whereas, The San Antonio National
bank has agreed to loan to said city said
$4,000.
Therefore Be it ordained that said
$4,000 by borrowed by the city of San
Antonio from said bank. as aforesaid, for
the purpose aforesaid, and said twenty
four non negotiable notes be issued by
said city to said bank, as aforesaid, for
said sum of $4,000 each, to be dated Au-
gust 10, 1893, and to bear interest at per
cent per annum, payable semi annually,
six Of said notes to be payable on or be-
fore one year after date, six on or before
two years after date, six on before three
years after date and sir on or before
four years after date, principal and in
tereSt payable in San Antonio, Texas,
which notes are to be signed by the
mayor of this city and atteSted by the
city clerk thereof, under seal of the
city. and to be substantially in the follow
ing form, to-wit:
SAN ANTONIO, Texas, August 10, 1892
No......
Sl0.0O0.00.
On or before. ...........year after date
the City of San Antonio for value re-
ceived, promises to pay 10 the San An
tonic National bank, in San Antonio,
thousand dollars, with interest thereon
from date until paid, at the rate of &
per cent per annum, payable Semi-an-
nually.
This is one of series of twenty four
non negotiable notes, numbered from |
to n inclusive, which bear even date
herewith. and the first six. numbered
from l TO inclusive, payable on or be-
fore one year after date; the second six,
numbered from to II. inclusive. payable
on or before two years after date: the
third six, numbered from 13 to IS inclu-
Sive, payable on or before three years
after date and the fourth six. numbered
from 10 to "A inclusive, payable on or be- |
fore four years after date. same issued TO |
borrow money to pay the debt due by |
said city TO said bank.
The execution and issuance of which |
twenty-fOur notes is authorized by vote |
of the taxpayers of said city, at an cleo |
ton he d according TO law, on the 1St day |
Of August, 1898. and an ordinance of the |
city council, passed in accordance there |
with, on the 9th day of August, 1893, and |
tax of % cents on each hundred dollars |
of the taxable values of said city has been (
levied and provided for the fiscal year |
beginning June l, 1893. and ending May |
81, 1894, and annually thereafter until the |
whole of said notes, principal and in
tereSt, are fully paid, to provide fund
for the payment of the annual interest |
and sinking fund with which to pay said
notes at maturity thereof.
In witness whereof the city of San An
tonic has hereunto signed by its mayor,
attested by its city clerk, and caused the
sea of said city to be attached this 10th |
of August, 1893.
City Of San Antonio. |