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<br />. <br /> <br />e <br /> <br />. <br /> <br />RESOLUTION NO. 82- 'I <br /> <br />A RESOLUTION AUTHORIZING THE CITY OF LA PORTE TO BORROW THE SUM OF <br />THIRTY FIVE THOUSAND AND NO/lOO DOLLARS ($35,000.00), FOR THE PUR- <br />CHASE OF AN EMERGENCY AMBULANCE, WHICH PROMISSORY NOTE SHALL BE ISSUED <br />UNDER THE AUTHORITY OF THE TEXAS PUBLIC PROPERTY FINANCE ACT, AND SHALL <br />BE SECURED BY THE FULL FAITH AND CREDIT OF THE CITY OF LA PORTE. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE: <br /> <br />Section 1. That an emergency and imperative public necessity <br />requires the purchase by the City of La Porte of a replacement emergen- <br />cy ambulance, to replace an emergency ambulance which was destroyed <br />in a collision on or about May 1, 1982, and that the purchase of <br />. said emergency ambulance will be financed under the provisions of <br />the Texas Public Property Finance Act, Article 2368a.2, Revised <br /> <br />Civil Statutes. <br /> <br />Section 2. That the Mayor be authorized to issue a promissory <br /> <br />Note of the City (a true and correct copy of which is attached here- <br /> <br />to as Exhibit "A", incorporated by reference herein, made a part here- <br /> <br />of for all purposes), dated May lO, 1982, in the principal sum of <br /> <br />THIRTY-FIVE THOUSAND AND NO/lOO DOLLARS ($35,000.00), to bear interest <br /> <br />at the rate of eight and one-fourth per cent (8 1/4%) per annum until <br /> <br />maturity, providing for ten per cent (10%) per annum interest on <br /> <br />. <br /> <br />matured unpaid principal and interest from date of maturity until paid, <br /> <br />and ten per cent (10%) attorney's fees if placed in the hands of an <br />attorney for collection, such note to be due and payable in 36 monthly <br /> <br />installments as provided therein; and that said note be sold by the <br />City of La Porte to First City Bank of La Porte, Texas, at not less <br /> <br />than par value. When such note has been duly executed by the Mayor, <br /> <br />and attested by the City Secretary, and delivered to said bank, with <br />a certified copy of this Resolution, such indebtedness thereby evi- <br /> <br />denced shall be fully binding upon the city; and <br />BE IT FURTHER RESOLVED that the City of La Porte hereby appropri- <br /> <br />ates and sets aside sufficient sums to amortize the principal and in- <br /> <br />4It terest on said Promissory Note, as the same becomes due and payable, <br />