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RES0LUT1-O N"
No. 60 - 97 B
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WHEREAS, an or about December 15, 1959 the City of
Clearwater, Florida, borrowed from the following institutions
the following amounts:
Bank of Clearwater $166,666.00
First NationaiBank $166,666.00
City National Bank $166,668.00
and,
WHEREAS, to evidence said indebtedness the City of
Clearwater, Florida, executed promissory notes in the amount
of $166666.00 each to the Bank of Clearwater and the First
Nationai Bank and a promissory note in the amount of $166,668.00
to the City National Bank, all of said notes being payable on or
before December 15, 1960, together with interest at four percent
(4%) payable annually; and
WHEREAS the City of Clearwater Florida, has paid or
will pay on or before December 15, 1960, the sum of $33,333.33
plus accrued interest on the notes to the Bank of Clearwater and
the First National Bank and the sum of'$33,333.34 plus accrued
interest on the remaining note to the City National Bank; and
WHEREAS, the City of Clearwater, Florida, desires to
satisfy the balances due on each of said notes by executing the
following new notes:
Bank of Clearwater $133,332.67
First National Bank $133,332.67
City National Bank $1338,334.66
payable on or before December 15, 1961, together with interest at
the rate of four percent (4%) per annum, payable annually;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
OF CLEARWATER FLORIDA, IN SESSION DULY AND
REGULARLY ASUMBLED:
That the proper City officials are hereby authorized
and instructed to execute the above described notes in favor of
each of said institutions, payable in accordance with the terms
set forth.
PASSED AND ADOPTED, this 32th y, of December, 1960.
e y r- a issaonex
Attest:
er
Reso. 60-'97B
' , 1 I
- 1 -
12-12-,'.60
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