HomeMy WebLinkAboutCity Council Resolutions (R-78-163)-05/03/1978
CITY OF COLLEYVILLE
RESOLUTION R-78-163
STATE OF TEXAS X
COUNTY OF TARRANT X
WHEREAS, the City of Colleyvil Ie, Texas, a home-rule City, borrowed Sixty-Thousand
Dollars ($60,000.00) from the First National Bank of Colleyville, Texas; and,
WHEREAS, such loan was necessary to purchase required 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 1977-78 Budget allocated funds for the first year payment of Fifteen
Thousand Six Hundred Dollars ($15,600.00);
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Colleyville,
Texas:
THAT the first year principle and interest be paid on the loan on May 3, 1978;
and,
THAT said loan be renewed for one year.
ADOPTED and PASSED By The City Council of the City of Colleyville,
Texas, on this the 2nd day of May, 1978.
Approved:
A'iTEST:
APPROVED AS TO FORM AND LEGALITY:
Gilliland, Cates and Flagg
City Attorney
By
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