HomeMy WebLinkAboutCity Council Resolutions (R-79-190)-05/15/1979
CITY OF COLLEYVILLE
RESOLUTION R-79-190
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STATE OF TEXAS X
COUNTY OF TARRANT X
WHEREAS, the City of Colleyville, Texas, a home rule City, borrowed Sixty-
Thousand Dollars ($60,000.00) from the First Security Bank of
Colleyville, Texas; in January 1977 under Resolution R-77-135, and,
WHEREAS, such loan was necessary to purchase street equipment for the City
of Colleyville; and,
WHEREAS, such loan is to be paid in Twelve Thousand Dollars ($12,000.00)
increments plus yearly interest for five (5) years; and,
WHEREAS, this procedure will require renewing the loan with each payment
and extending said loan over the fiscal year; and
WHEREAS, the 1978-79 Budget allocates funds for the second payment of Fourteen
Thousand Eight Hundred Eighty Dollars ($14,880.00)
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Colleyville,
Texas:
THAT the second year principle and interest be paid on the loan authorized
under Resolution R-77-135
THAT said loan be renewed for one year.
PASSED, APPROVED, AND ADOPTED By The City Council of the City of Colleyville,
Texas, on this the 15th day of May, 1979.
Approved:
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BUCK HUBBA D, Mayor
ATTEST:
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