HomeMy WebLinkAboutResolution - 070549A - Paving Collecter To Prepare A List Of Certificates For CNB As Security For Loan - 07/05/1949RESOLUTION
T'WR AS, on May 7, 1949 by, it's Resolution the City Commission
authorized the.Mayor to execute the note of the City of Lubbock
bearing the same date for One Hundred Thousand ($1000000) Dollars
and bearing interest at the rate of three (3f) percent per annum and
payable to the Citizens National Bank, 'Lubbock, Texas, on or before
May 7# 1950 for the purposes stated therein and the note was executed
and the City' agreed and did thereby pledge ..3hditidual paving contract
for certificates with a face value of thirty-three and one-third
(35-1/3%) percent over the principal amount of the loan, THEREFORE,
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
That the Paving Collector prepare a list of certificates showing
the. certificate. number, name of the owner and amount of the certifi-
nate for delivery to the Citizens National Bank as security for this
loan.
Passed and approved by unanimous vote of the City Commission,
of the` City of Lubbock this 5 day of July 1949.
Mayor 4.
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