HomeMy WebLinkAboutResolution - 871 RESOLUTION NO. 871
A RESOLUTION AUTHORIZING THE BORROWING
i OF MONEY FROM UNITED CALIFORNIA BANK
2 WHEREAS the City of San Jacinto has contracted for borrowing money to prope�-
3 ly pay off the firetruck from Seagraves Corporation, and
4 WHEREAS the United California Bank has offered to lend the sum of Five
5 IThousand and No/100 Dollars ($5,000,00) for the present budget year at the rate
6 iof four and one-half percent (4.50/10) per annum to the City of San Jacinto, and
WHEREAS it is necessary for a new note to be issued for this new budget year,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San Jacin-
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ito , State of California, in regular session assembled this 7th day of July 1970
10 ' that the Mayor, Ray A. Brooks , or in his absence the Mayor Pro Tempore, Alexander
11 ISaben, together with the City Clerk, Lucy May Allen, are hereby authorized and
12 lempowered to borrow the sum of $5,000.00 for a period of Three Hundred Fifty-eight
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13 j(358) days at the rate of 4.5% per annum interest and said officers are duly em
14 !,powered and authorized to execute that certain promissory note dated July 7 , 1970
15 for the face amount of $5,000.00 for a period of Three Hundred Fifty-eight (358) i
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16 !days at the rate of 4.5% per annum interest in accordance with the terms of the
L f promissory, note, Exhibit "A" herein , and
18 BE IT FURTHER RESOLVED by the City Council of the City of San Jacinto that
119 1 1 all acts of the Mayor and the said City Clerk in the executing of the promissory
20 note, Exhibit "A" herein, are hereby ratified and deemed to be acts of this City
21 ICouncil .
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22 I ADOPTED AND SIGNED this 7th day of July 1970.
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ATTEST:
24 LUCY �IAY ALLEN, CITY CLERK
Mayor -ty of S�anOacinto
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CERTIFICATE
27 The foregoing is certified to be a true copy of a Resolution duly adopted
28 1by the said City Council of the City of San Jacinto on the date therein set forth.
29 LUCY MY ALLEN, CITY CLERK
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