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• J9K:lf:1/13/70 STATE OF TEXAS COUNTY OF HARRIS s RESOLUTION AUTHO1tIZINGOT~' S6H2O BORROW THE SUM~OF~TWSNTY~HOUSA~iD IMPROVEMENT DISTRICT N _ AND NO/100 ($20.000.00) ~L~OLl.F~:TIONS DURI~IGETHE FISCAL YEAR FROM CURRENT AD VALOREM TAX C BEGINNING JANUARY 1, 1970 AND FSIDING DECEMBF.~t 31, 1970. WHEREAS, it has been determined by the Board of Directors of the Barris County Water Control and Improvement District No. 56, that a necessity exists to borrow the sum of TWENTY THOUSAND AND NO/100 ($20,000.00) DOLLARS to pay the interest and sinking fund requirements to be become due February 1, 1970, and that the anticipated current ad valorem tax collections will amount to more than TWENTY THOUSAND AND NO/100 ($20,000.00) DOLLARS; and WHEREAS, the La Porte State Bank, La Porte, Texas, ha8 agreed to make the Harris County Water Control and Improvement District No. 56 a loan in said sum to be paid with four percent (49i) per annum interest thereon, on or before the lot day of October, 1970; and WHEREAS, the Harris County Water Control and Improvement District No. 56 will have current revenues from the collection of ad valorem taxes available and sufficient to pay said obligation on or before the maturity thereof; .NOW, TH~gFpgE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE HARRIS COU~i'TY WATER CONTROL AND IMPROVEMEr1T DISTRICT N0. 56, Harris County, Texas, that the President and/or any Vice Presi- dent, of such board and/or the Secretary and/or any Assistant Secretary of such board be and they are hereby expressly authorized and instructed to issue a promissory note of the Harris County rovement District No. 56,~~to be designated Water Contro-1 and Zmp »gazrla Comity Water Control and Improvement District D1o. 56 Tax Dtot• !or the Fiscal Year beginning January 1, 1970. and ending J, ~