HomeMy WebLinkAboutResolution - 907 i
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RESOLUTION NO. 907
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A RESOLUTION AUTHORIZING THE BORROWING
2 OF MONEY FROM UNITED CALIFORNIA BANK
3 WHEREAS the City of San Jacinto has contracted for borrowing money to prope -
4 ly pay off the firetruck purchased from Seagraves Corporation; and
5 .WHEREAS United California Bank has offered to lend the sum of Two Thousand
6 and No/100 ($2,000.00) for the present budget year at the rate of four and one-
7 half percent (41z%) per annum to the City of San Jacinto; and
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8 WHEREAS it is necessary for a new note to be issued for this new budget yF
9 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San
10 Jacinto, State of California, in regular session assembled this 6th day of July
11 1971 that the Mayor, Ray A. Brooks , or in his absence the Mayor Pro Tempore, j
12 Alexander Saben, together with the City Clerk, Lucy May Allen, are hereby auth-
13 orized and empowered to borrow the sum of Two Thousand Dollars ($2,000.00) for a
14 period of One Hundred Seventy Seven (177) days at the rate of four and one-half
15 ;percent (412%) per annum interest and said officers are duly empowered and auth-
16 orized to execute that certain promissory note dated July 6 , 1971 for the face
17 amount of $2,000.00 for a period of One Hundred Seventy Seven (177) days at the
18 rate of 4.5% per annum interest in accordance with the terms of the promissory
19 mote, Exhibit "A" herein, and
20 I BE IT FURTHER RESOLVED by the City Council of the City of San Jacinto that
21 all acts of the Mayor and the said City Clerk in the executing of the promissory
22 note, Exhibit "A" herein, are hereby ratified and deemed to be acts of this City
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Council .
24 ADOPTED AND SIGNED this 6th day of July 1971 .
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26 ATTEST
27 LUCY�YAY ALLEN, CITY CLERK
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29 CERTIFICATE
30 The foregoing is certified to be a true copy of a Resolution duly adopted
by the said City Council of the City of San Jacinto on the date therein set forth
31 LUCY MAY ALLEN, CITY CLERK
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