HomeMy WebLinkAboutOrdinances Book 8, Page 965, No Resolution NumberITO. 975.
it RESOLUTION AUTHOHIZING THE ITA--!, ; NT) TIE CITY TR} I -SURER
OF TIIE CITY OF P/�DUCI }H, KENTUCKY, TO BOMM': AT.IOMM AGGRE;GAT.LNG TR_ :
SLU OF $50;000.00, AS THE ci.t,ll•; LAY BE RE(UIRED TO I:`c;FT THE NEEDS OF
SAID CITY, AND TO T7Y-CIT'^}; NOTE OR NOTES THT HrF'OR OId BE11t LF Or- S ID
CITY.
BE IT RESOLVED BY THP; Ei}c1IP;R/:L COUNCIL OF THE
CITY OF Pf11)TJu/,H, K NTUCKY:
SECTION 1.
That the Iciayor and City Treasurer of the City of Pad,.;ca.h
are hereby authorizr;d and directed to borrow, for and on behalf of
sairl City, from any bank or banks therein, amounts necessary to meet
the needs of said City .and aggregatinp mprroximately 7,50,000.00, such,
loan or loins to bear interest not in excess of 6% per annum, and which
shall be laced to the credit of said City. `
SFCTiON 2.
Said Mayor and City Treasurer are further authorized to!
exec,:te note or notes for said loans, and to sign the name of said
City by said Mayor and Treasurer respectively, payable on or before
I?ovember 1st, 1927, with interest; and for the payment of said note
or notes there is hereby pledged all revenues to be collected by
said city from taxes for the fiscal half Year enninr .r.!-il-y lsr, 192^.
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This resolut.io'n shall take effect from and after its
Passage, approval and publication.
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