1949-03 To borrow $4000 to borrow $ for extend water lineR E S 0 L U T 1 0 N
WHEREAS) the City of Okeechobee, Florida, has
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considered the advisability )f extending the water line
and/or supply to territory commonly known as Ila-)lored
town", which sald territory is within the municipal
limtts of the Clty of Okeechobee, Florida, and
WHEREAS, in order to purchase necessary pipe end
pipe fittings and providing for the laying and Install—
ation of some, it is necgzsary for the City to borrow
the sum of $4,000,00 — the estimate4cost of providing this
service encl. also for the purchase of the water line,,
consisting of pipe, pipe fittings, etc., which has been
owned and operated for a number of years by one Mack
Mitchell and which said water line has, in the past,
partially furnished said territory with water from the
city's water mains, and
WHEREAS, the Okeechobee County Bank has agreed
to finance said project, as hereinbefore set out, and
WHEREAS, the City Council deems It to the best
Interest of the residents of the territory Involved
In that It will provide better and safer sanitary
conditions and also provide safer fire protection for said
territory, therefore
BE IT RESOLVED by the City Council of the City of
Okeechobee, Florida, that the said City borrow from the
Okeechobee County Bank, Okeechobee,Florida, the sum of
$4,000.00 and that the City Clerk and PresIdent of the
City Council be and they ere hereby authorized to execute
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promissory note in behalf of said City in said amount
and affix the seal of aaid City of Okeechobee, 5'lorida
thereon.,
BE IT FT)RTF-TER ��ESOLVED that the Cit7 of Okee-
chobee, Florida, does hereby irrevocably pledge the sum
of $200.00 each and every month until said not.�� is fully
liquidated, said sum to be deducted from the receipts
received by the City of Okeechmbee, Florida, under the
provisions of Ordinance No. 216, and any amendment there-
to, commonly known as the "Utility OrOinance"; it being
the intent and purpose of this Resolution to puarantee
to the said Okeechobee Gounty Bank payment of the. said
note in the sum of $4,000.00 together with interest at
6% per annum and any other charges, out of the gross
receipts from the tax levied by the City of Okeechobee
under the provisions of Ordinance No. 216 hereinbefore
m^-ntioned,
PASSED and ADOPTED in recular adjourned session
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this day of June, A. D. 19490
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President,, City Coutcil
A T T E'S T
X -A '?--I 'a J
City Cle rk
The foregoing Resolution is hereby approved by me,
this the /z/- day of June, 1949. r
fl�ll
Mayor