HomeMy WebLinkAboutCity Council Resolutions (R-76-133)-12/21/1976
CITY OF COLLEYVILLE. TEXAS
RESOLUTION NO. R-76-133
WHEREAS. the City of Colleyville. Texas, a general law city
duly incorporated under the provisions of Chapter 11. Title 28 of the Revised
Civil Statutes of Texas. as amended. has applied to First National Bank of
Colleyville. Texas for a short term loan to be repaid out of the current fiscal
year revenues; and
WHEREAS. such loan is deemed necessary to defray current
operating expenses of the City of Colleyville. pending collection of taxes; and
WHEREAS, such current operating expenses are incurred for the
health, safety, morals and welfare of the inhabitants of the City:
NOW. THEREFORE. BE IT RESOLVED by the City Council of
the City of Colleyville. Texas:
That the City Council of the City of Colleyville. Texas. does
hereby approve the application for a ninety (90) day loan in the amount of One
Hundred Sixty Thousand Dollars ($160.000.00) from the First National Bank
of Colleyville. Texas; and
That the City Council of the City of Colleyville, Texas, does
hereby authorize the Mayor and City Secretary of the City of Colleyville,
Texas to execute one certain promissory note in the amount of One Hundred
Sixty Thousand Dollars ($160,000.00) bearing interest at the rate of six per-
I cent (6o/c) per annum and payable on or before ninety (90) days after date
thereof.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF
I COLLEYVILLE. TEXAS, on this the 21st day of December, 1976.
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I APPROVED AS TO FORM:
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STA TE OF TEXAS 0
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COUNTY OF T ARRA NT 0
CITY OF COLLEYVILLE. TEXAS
I. Julie R. Kearley. City Secretary of the City of Colleyville,
Texas. do hereby certify that the foregoing is a true and correct copy of
Resolution No. R-76-133, duly presented and adopted by the City Council of
said City of Colleyville. Texas. at a regular meeting held on the 21st day of
December. 1976. as the same appears in the Minutes of said meeting in
Book E-76. and filed of record in the office of the City Secretary of
Colleyville. Texas.
II WITNESS MY HAND AND SEAL of the City of Colleyville.
IIthis the 21st day of December. 1976.
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Texas,
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