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Aelk
R E S O L U T I O N
t ?y a
„fit,', .^ ?4' i• WHEREAS there is an immediate need for the sum of
f
015,000.00 for certain necessary water improvements to be made
in the City of Clearwater, and
WHEREAS, these funds can be repaid from the contemplated
S !dN'3''i"M.z"~='~•1--, # issue of water revenue certificates, and
4`'?i_ `?y?;;•,,er ;; WHEREAS, Section 7 of the Charter of the City of Clear-
`?"""',`'' •?'} water authorize t
??,a,t•{;???,?- .'"' ' ": ' ' ' s he borrowing of money for this purpose.
NOW1 THEREFORE, J HE IT RESOLVED by the City Commission of
G•...".??;'. 3,1.6: ;Fr; •; .' _ 15'
--the
;,.jfi; "°;?r-?;€G'?, ;•;:,.? `?, ° • , City of Clearwater, Florida, in session duly and regularly
'; assembled as follows:
?`'t ?x >''`f" " `•Y''. +; That the sum of $45,000.00, which sum is less than
50% of the revenue of the City in any year during which this loan
?'3^:?'s57s?;e„'?f'?; .t.(^f^?•„ .r ?v...,.3':i _Cl 1.
''?s, r..?'y iY',: ?;y? .•?; will be in effect be borrowed from a banking institution
?:?::;,?.?,???. ?sy?:?:;:?.,., .`?;,.,;??::, ;.; -•';y'. within
t•.fi?F?'.r?t???;??{,?f•??,.?.,.,1,, ,;,.,:?"_' the City of Clearwater, Florida, and further
tM,y,y•>r.,;s?::;''r. :7',.,..:, That $50000.00 of 2j% United States Treasury Certificates
144: y'1!.?;f ?U s•e('^'a,:'?t' A:.'a.:':3 •, •' °'
. ;.?1?"???.f•, J ,'• ??f,;:` , 1969, held for t by the Chase
due June 15, he City of Clearwater
I):f :ry ?,,f4 ....M Sr{S-, ?: ''i,.?.Y I•a,•': `-'r i.-x?': w• •:
National Bank of New York City be given as collateral for this
I' loan, and further
That the loan bear interest at a rate not to exceed 3%,
'°- and further
That the Mayor, City Manager and City Clerk are hereby
r3
authorized to sign the note which will be the evidence of the
obligation, and there is also hereby authorized the expenditure
;spa of funds necessary for stamps and other expenses of consummation
Y P E'
of the transaction, and further
That the note shall be payable on or before one year from
the date hereof.
PASSED AND ADOPTED this 21st day of June,A.D. 1954-
Mayor- Commi sl!yloner
Attes ,
r o ,
City Auditor a Clerk
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5