ORDER N0. 21016
AN ORDER
RELATING TG THE PURCHASE OF THE GUAUALUPE SAVINGS
BUILDING, AND RELATED MATTERS INCLUDING THE OBLIGATION
TO LEVY A SUFFICIENT TAX TO SATISFY T'HE BALANCE OF PRINCIPAL
ANU INTEREST DUE ANU THE ESTABLISHMENT OF A SINKING FUND
On the 27th day of July 1951, came on to be considered by the
Court the purchase of a building and property known as th•
Guadalupe Savings Building. being more pa,-ticularly described
in the Agreement and Promissory Note attached hereto and made
a part hereof for all purposes; and
IT BEING FOUND by the Court that the purchase price of
5150,000.00 is below its assessed valuation for tax purposes,
that said building and property ate to be used for public
purposes, and that the purchase of said building and property
is in the beet interest of the public;
IT IS THEREFORE ORDERED that the County .fudge of Kerr County
execute all documents necessary to close on and purchase the
building and property, including the promissory note attached
hereto and further that, in accordance with said Promissory
Note, that the Kerr County "Treasurer issue a "hand-check"
made payable to Lime Greek Apartments, .Cnc. in the sum of
57°.,000.00 to be paid to Lime Creek Apartments, Inc., at
cloying.
IT IS FURTHEk ORUEREU that the Kerr County Treasurer issue a
"hand-check" made payable to Fidelity Title Company in the
sum of S1347.00 for the purchase of title policy covering the
building and property.
IT IS FURTHEk ORUEREU that a sufficient tax be levyed to pay
the balance due under said Fr~omissory Note, including
interest theron at the rate of eight perr_ent per annum, and
that a sinking fund of twu percent be created.
ORDERED this the 2'Ith day of July 1552.
ATTEST:
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