HomeMy WebLinkAbout07-18-1973 Special Meeting'TATE OF ALABAMA
OUNTY OF BALDWIN
We, the undersigned members of the Fairhope City Council hereby
waive notice of the calling of a special meeting of the Fairhope
City Council and do consent that said meeting be held at the City
Administration Building, 387 Fairhope Avenue, July 18, 1973 at
500 P.M, to adopt Resolution on temporary financing for the City
and to meet with Mrs. Black, City Librarian, concerning Sr. Cit-
izen's Jamboree.
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Councilman
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At a special meeting of the Fairhope City Council held at the City
Administration Building, 387 Fairhope Avenue, Fairhope, Alabama, on July 18,
1973.
Mayor Pro Teln, Sam Box, presided over the meeting and the following
resolution was duly adopted:
VIHEREAS THE CITY OF FAIRHOPE, a corporation, has need of temporary
financing until such time as a $500,000.00 loan to be secured by warrants has
been received and concluded, and
WHEREAS it is necessary to borrow funds in the amount of $100,000.00 to
replace funds paid out of the electric fund of the City and used in capital
improvements, and
WHEREAS the City is desirous of borrowing the funds from the First Nation^l
Bank of rairhope,
NOW, THEREFOR, BE IT RESOLVED that Mayor Pro Tem, Sam Box, and Marie
Moore, as City Clerk and Treasurer of said City respectively, be, and they are,
hereby authorized to borrow the said funds and to execute the necessary promisso nr
note to the First 7ational Bank of Fairhope in the said sum of $100,000.00, pay-
able on demand with interest at the rate of 6% per annum.
ADOPTED THIS THE 18th DAY OF JULY, 1973•
Marie ore, City CleW—
STATE OF ALAB.AMA
COUNTY OF BALDU N
I, Marie Moore, do hereby certify that I am Clerk of the City of Fairhope,
a corporation, and that the above Resolution was duly adopted at a special meeting
held on the 18th day of July, 1973.
Sworn to and subscribed before
me on this the day of
, 1973.
Notary Public
Marie More, City rk