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Fort Walton Beach Resolution — 58-39--20,000 Loan w/Valp State Bank — reading text
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RESOLUTION 58-39 ce ae! :
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A RESOLUTION AUTHORIZING THE CITY MANAGER TO NEGOTIATE eee os,
A LOAN WITH THE VALPARAISO STATE BANK, VALPARAISO, =, ;..f72 Fost >
FLORIDA, IN THE AMOUNT OF $20,000.00, TO BE PAID FROM
THE GENERAL FUND OF THE CITY, PLEDGING THE GENERAL
REVENUES FOR SAID LOAN, AND PROVIDING FOR AN EFFECTIVE
DATE HEREOF
>” \
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA,
SECTION 1: That the City Manager is hereby authorized and directed to
negotiate a loan from the Valparaiso State Bank, Valparaiso, Florida, in
the amount of $20,000.00, to be rapaid with interest not to exceed 6% __
per annum from date, on or before seven months from dates |
SECTION 2: That the loan hereby authorized shall be evidenced by a
promissory note and shall be repaid from the General Fund, and the
general revenues of the City are hereby pledged for said loan,
SECTION 3: This resolution shall take effect immediately upon its
passage and approval by the Mayor.
avoprmy_ MZee7 22 LG EBEF
APPROVED ne SP.)
Mayor /
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