HomeMy WebLinkAboutCity Council Resolutions (R-00-1733)-11/21/2000
RESOLUTION R-00-1733
A RESOLUTION APPROVING THE RENEWAL OF THE LOAN WITH FIRST STATE
BANK OF TEXAS USED TO PURCHASE A FIRE TRUCK'
WHEREAS,
the City of Colleyville, Texas has a loan with First State Bank of Texas,
and recently made the FY 2001 budgeted principal payment of $50,000
leaving a loan balance of $125,000; and
WHEREAS,
the loan must be renewed and such loan is authorized by resolution
under Section 9.07 D. of the Charter of Colleyville, Texas.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1
THAT the City Council of the City of Colleyville, Texas, does hereby
authorize the renewal and extension of the loan (#2002460) in the
amount of One Hundred Twenty-five Thousand ($125,000.00) Dollars
from First State Bank of Texas; and
Sec. 2
THAT the City Council of the City of Colleyville, Texas, does hereby
authorize the Mayor and the City Secretary of the City of Colleyville,
Texas, to execute the renewal and extension of loan (#2002460) in the
amount of One Hundred Twenty-five Thousand ($125,000.00) Dollars
bearing interest at a rate of 5.60%.
AND IT IS SO RESOLVED.
Passed by a vote of 4 ayes, 0
~I day of 11H/nt..b-tJt.) ,2000.
nays, and
abstentions on this
ATTEST:
CITY OF COLLEYVILLE