HomeMy WebLinkAboutCity Council Resolutions (R-77-135)-01/18/1977
C IT Y CF' C0LLJ;i;YV ILl.sE, 'I' EXAS
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hES0LU'l IUN NO. 11-77-135
lrlHEREAS, the C 1ty of Colleyville, 'l'exas, a general law city
duly incorporated under the provisions of Chapter 11, 'l'itle 28
of the Revised Civil Statutes of Texas, as amended, has applied
to First National Banlc of Colleyvl1le, Texas for a short term
loan to be repaid out of the current fiscal year revenues: and
WHERF~S, such loan is deemed necessary to purchase required
street equipment for the City of Colleyville.
NOW, 'I'HBrlEFOHE, BE: IT' HESeLVED by the City Council of the City
of Colleyville, Texas:
That the City Council of the City of Colleyville, 'l'exas does
hereby approve the application for a loan in the amount of
Sixty 'l'housand Dollars ($60,000.00) from the First National banlc
of Colleyville, Texas; and
'I'hat the City Council of the Ctty of Colleyvl11e, Texas, does
hereby authorize the Mayor and City Secretary of the City of
Colleyville, 'I'exas to execute one certain promissory note in
the amount of .SlxtYI'housand Dollars (:j~60,oOO.00) bearing
interest rate at the rate of six percent (6%) per annum and
payable on or before September 29, 1977.
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ADOPTED BY 'I'HE CIllY COUNCIL CF l'HE CI1lY OF COLLEYVILLE, 'l'EXAS,
on this the 18th day of January, 1977.
APPROVED:
Al"I' ES1' :
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~ tiN A ANDREW~-~~YOH
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APPhOVED AS TU FORM:
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