HomeMy WebLinkAboutR-1960-2
,
.
/".---.........
I '",
:........ :tESoLurIml AUTHORIZDro Till CITY OF LA PORTE TO DORRffiI THE SUE OF TUELVE THOUSOO
~ 'l'miE.r.: i~U!'!DRZD DOJ.JJ"..A...11S ($12,300.00), TO lE EVm ENCED BY T~~ ANTICIPATION NOTE,
PAYABLE OUT OF CU!~NT TAXES COLLZCTI:D DTJ'RING THE FISCAL YEAR B.l!.'GL:l1INJ JULY 1,
1960 AND 3!'1DD::G JUNE 30, 1961, AND FURTIGR SECUI'lED BY A CHATTEL MORTGAGE ON Ol~
CEP.Tf.IN FIRE T3.UCK.
STATE OF TIDlAS I
COUNTY OF BARRIS ~
'.1IEREAS, it ha s been determined b~T the City Commission of the City
of La Porte that a. necessity exists to borroli' the sum of '.i'~lelve Thousand Three
Hundred :::lollars WL2,300.00), for PB.u~nt of bal.ance of the purchese consider-
ation of that one certain Vire Truck, hereinafter described, and tl1at the
anticipa ted current revenue from ad valorem taxes l\'ill amount to appro:x:i.mately
7i1TC H{JlI!DRED FIFTEE~! THOUSM'D ONE HUNDRED DOL1..l'.r.s eS215,100.00);
am
//---........."
.
~:'HER3AS, the La Porte State Bank at La Porte, Texas, has agreed to
make the ~ity a loan in said sum, to be paid 1.ti.th four percent (4%) per annum
interest thereon, on or before the 28th day of JUne, 1961; and
f
/
~J:mR~.I\.S, the City 1':1.11 have current revenues from the coLLection of
se.id ta xes ava.iJ.ao1e a."1d sUfficiept to pay said obligation at ma turi ty:
:~OH, THEPEFORE, B:!:: IT RESOLVED BY TIm CITY C01ir'IrSSION OF T~ qITY OF
LA PORTE, TEVS, t':1a t the l-Iayor a.nd the City Clerk (Director of Finance) be
authorized to issue a promissory note of the City of La Porte, to be designated
"Tax l\hticipation !.Tote for the Fiscal Year beginning July 1, 1960 and ending
June 30, 1961", such note to be in the principal. sum of Tl-relve Thousand Three
/~'" Hundred Dollars ($12,300.00), to bear interest at the rate of four percent
. (4%) per armum until maturity, l-ti.th the usuaJ. provision for interest at the
rate of six !)e.rcent (6%) per annum on past due principal and interest and ten
percent (10%) attorney's fees, such note to be due and payable on o~ before the
28th day of June, 1961, thp,t said note be sold by the City to the La Porte State
Bank at La .l:"orte, 'i'exas, at not less than par value. 1\ben such note has been
d~ exem:.ted by the Hayor and City Clerk and delivered to said Bank, ll'ith a
copy of this resolution, such indebtedness thereby evidenced shall. be fUL.L.y
binding upon the city; and
BE IT FUr: Tm.'P. RESOL\TED that the City fur ther secure the payment
of said note by a Chattel Uortgage on that one certain fire truck described as
./'"-........
.
follo't-1s:
One (1) certain 1960 Model International "Fire Truck, bearing
IdentificRtion No. VC 0-196-F A-6609 5-F, together In th a.LL
equipment attached to a."1d lOCated thereon
and that t11e lIayor and City Clerk be and they arc hereby authorized and directed
/~
'...
.......~... .
-- . ~
; ....
.:.,""'f$ .'
~ ---'~
,r .~
'.
/~,
.e
1 -
~ ~-.:;.:
-; .''''
<'~
~"
,~ "''''''..
.'
.
e
to execute on "uehrllf of the City of La porte, a Chattel Uortgage covering such
fire truck, on the form and containing the provisions, agreements, conditions
and covenances required by said bank.
BE Ir:::' FURTH];F.. m:SOLVED that the City of La Porte hereby appropriates
and sets aside the sum of T....relve Thousand Five liundred Fifty Dollars (')12,-'50.00)
out of tile current revenues from the collection of ad valorem taxes for the
p~nt of such inee~tedness.
AND IT IS SO ORDERED.
,E\..PPROVEI: and passed this the 16th day of December, .1960, ~J the
City Commission.
;:-
.. -
..J.....
/'
,4Tr;,::sT: _
This is to certify that the above and foregoing is a true and correct copy of
a Resolution passed and approved by the City Commission at its regular meeting
held on t:1e 16th day of December, 1960, 2.S the same appears on reco rd in the
minutes of said meeting, to certify 'toJ'hich 'tfitness my hand and seal of office.
ex.
. ,.
- ,-
"
.
e
/...---............
..
TAX ANTICIPATION HarE
FOR THE 'fEAR 1960-1961-
FISCAL YEAR BmINIaNG
JlJJJ 1.. 1960. ENDING JUNE 30.. 19AA
La Porte, Texas, December 22, 1960
112,300.00
The City of La Porte_ Texas, acting by and through its duq authorized
oft1ce", for val_ received, promlses to pq to the order of the La Porte State
Bank at La Porte, Texas, the sum of 'l'welve Thousand Three lIundred Dol1.ars
(Ole, 300. 00)1 with interest at the rate ot four percent (~) per tmDlD, on ell"
be.tore the 2cstb dq of Jum, 1961.
to.'
..
.: . AU past due pr1n1op&l and interest sball bear 1nterest at the rate of
Bt.it percent ($) per anma.
It is hereby spec1~ agreed that it this note 1s plad.ed 111 the haDds
of an attornq for collection, or it collected by SUit or through the Probate
or BankruptC)" Oourt, we agree to pv ten percent (lac) addi t10D8l on the pr1nC1P4
and interest then due hereon,; . s att0l'D87'8 tees.
/~.. In adc1itlon to the appropl"1ation frcD current tax revenue8, this note
. ~. 1s tar t her secured. bT a Chattel Mortgage at even date herewith on that om certain
.... 1960 Intemat1cmal Fire '!'ruck,. bear1Dg Identification No. va o.u6-FA-6609 5-F
'= together w1 th aU equipment attached to and located thereon.
. A copy of the Be.o1ution authorJ.zins the bOrrow1Dg of the 8UIl of
Twelve'Thousand Three Hundre4 Dollars (112,.300.00) and the issuance or this note
i8 hereto attached.
om OF LA PORTE, TEXAS
BI
, Texas
ATIFllT. ~
-C. ....
/'" '\C1~~ . 0 . __
...
." <
~.... .
" ."
'-... .
.~ .
/---.........
/ '
.' ....
.