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Fort Walton Beach Resolution — 57-1-15--17,000 Loan-Southern Natl Bank — reading text
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RESOLUTION NO.
A RESOLUTION ENTITLED
A RESOLUTION AUTHORIZING AND DIRECTING THE CITY
MANAGER AND CITY CLERK OF THE CITY OF FORT WALTON
BEACH, FLORIDA, TO BORROW THE SUM OF SEVENTEEN
HUNDRED AND EIGHTY DOLLARS AND TO EXECUTE SUCH
INSTRUMENTS AS SHALL BE NECESSARY AND TO PROVIDE
FOR THE EFFECTIVE DATE HEREOF.
WHEREAS, the financial needs of the City are such as to necessitate the
City borrowing seventeen hundred and eighty dollars ($1,780.00)
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY oF FORT WALTON BEACH, FLORIDA
1. That the City Manager and the city Clerk be and they are hereby authorized
and directed to borrow the sum of seventeen hundred and eighty dollars ($1,780.00)
from the Southern National Bank and to execute such instruments as may be
necessary to effectuate this resolution, pledging the general revenue of the
City as security for repayment thereof.
2. Said funds shall be deposited in the general fund of the City to be expended
as otherwise provided by ordinances of the City.
3. In order to provide for the immediate preservation of the public peace,
property, health and safety, and not for any special privileges, this Resolution
is hereby declared to be an emergency measure and shall take effect immediately
upon its passage and approval by the Mayor.
IU GEE LEE
APPROVED:
Mayor
ATYEST:
‘City Clerk 2