R-298-49 RESOLUTION0—. 298
A RESOLUTION AUTHORIZING THE BORROWING OF
#35,000.00 BY HIM SHORS VILLAGE FROM
BES MER PROPERTIES, INC. FOR NINETY DAYS
AT 3% PER ANNUM.
WHEREAS, it is considered the municipal funds on hand plus
anticipated receipts will be insufficient to defray the necessary expenditures
of Miami Shores Village during the next ninety days, and
WHEREAS, Bessemer Properties, Inc. is willing to lend to
Miami Shores Village the sum of $359000.00 for ninety, (90) days from August
15th at 3% per annum interest, said loan to be evidenced by a promissory note
executed in the name of the Village by its Mayor and Village Clerk and Manager,
and under its corporate seal, accompanied by a letter providing that if said
note is not paid at maturity it will be accepted by the Village in payment of
taxes, and
WHEREAS, funds from tax collections and other sources will be
available to liquidate such loan at its maturity,
NOW THEREFOR,; BE IT RESOLVED BY MIAMI SHORES VILLAGE,
Section 1. That Miami Shores Village borrow from Bessemer
Properties, Inc. the sun of $35,000.00, pa*able in 90 days from August 15 with
interest at 3% per annum, and that in consideration thereof the Mayor and Village
Clerk and Manager of Miami Shores Village are hereby authorized and directed to
execute, under the seal of the Village, and deliver to Bessemer Properties, Inc.
the promissory note of Miami Shores Village evidencing said loan, accompanied
by a letter signed in the name of the Village by its Mayor and attested by the
Village Clerk and Manager, providing that if said note is not paid at maturity
it will be accepted by the Village in payment of taxes.
PASSED AND ADOPTED this 19th day of July, A.D. 1949.
Mayor
Attests
i
Village Manager find Clerk