Fort Walton Beach Resolution — 57-16--Extend Note with Southern Nat'l Bank — reading text

h' 1./ A RESOLtrfION TO BE ENTITLED A RESOLUTION AtmIORIZING THE CITY MANAGER AND CITY CLERK OF FORT WALTON BEACH, FLORIDA, TO . EXTEND THAT CERTAIN NOTE WITH . THE SOUTHERN NATIONAL BANK FOR ONE YEAR IN ACCORDANCE. WITH RESOLUTION ADOPTED OCTOBER . 9, 1956, FOR THE PAYMENT OF SPECIAL IMPROVEMENts PROVIDED IN BEL AIR SUBDIVISION. IN ACCORDANCE WIrn SPECIAL ASSESSMENTS . IN..ACCORDANCE WITHORD~.NANCE. No. 203, DECLARING SAME TO . BE. AN ..EUERGENCY . MEASURE, AND PROVIDE FOR THE. EFFECTIVE DATE lfEREOF. WHEREAS, certain residents of Bel Air Subdivision have been assessed under Ordinance No. 203 for the improvement of their properties by the construction of certain curbs and gutters adjacent to said properties, and WHEREAS, the said Ordinance provided for immediate payment, and WHEREAS, several residents have complained of the inequities of the requirement of immediate payment, and WHEREAS, the City of Fort Walton Beach authorized the City Clerk and City Manager by resolution dated October 9, 1956, to borrow the necessary sums from the Southern National Bank to payoff the contractor for the improvements made allowing the owners thereof to pay for said improvements wi thin one year to cover actual cost plus 2., .anterest not to exceed B% uY~~ p9~ aRRum iftt~!~!t thereon, and WHEREAS, several of the owners have failed to make certain payments in accordance with the said Resolution leaving a balance presently due and owing on said note in the sum of/$ 5374. 0$, and WHEREAS, it now becomes necessary that said note be extended pending final payment by the property owners. NOW, THEREFORE, BE IT RESOLVED BY THE CITY OOUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: 1. T~ at the City Manager and City Clerk are hereby authorized to extend the note ~.r:!?~!_~ ed for by Resolution dated October 9, 19.56, in the amount of\,. 45374. 05 lfor a period of one year.