HomeMy WebLinkAboutRes 1964-214 Village to Borrow $20,000•
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RESOLUTION NO. 224
A RESOLUTION OF THE VILLAGE COUNCIL, NORTH PALM BEACH, FLORIDA, AUTHORIZING THE VILLAGE
TO BORROW THE SUM OF TWENTY THOUSAND DOLLARS ($20,000.00) IN ANTICIPATION OF TAXES TO BE LEVIED
FOR THE CALENDAR YEAR 1964.
WHEREAS, the Village of North Palm Beach is in need of certain monies for the purpose
of defraying the cost and expense of operating the Village government for the current fiscal
year; and
WHEREAS, the Village Council has estimated and determined that the sum of TWENTY THOUSAND
DOLLARS ($20,000.00) will be sufficient for the purposes set forth above; and
WHEREAS, the Charter of the Village of North Palm Beach, and particularly Section 3 of
Article V, authorizes the borrowing of such money, on a temporary basis, in anticipation of
taxes and other appropriated revenue to be received by the Village;
NOW, THEREFORE BE IT AND IT IS HEREBY RESOLVED BY THE VILLAGE OF NORTH PALM BEACH, FLORIDA;
Section 1. That the Mayor and Village Treasurer be and they are hereby authorized to
borrow the sum of TWENTY THOUSAND DOLLARS ($20,000.00) in the name of and on behalf of the
Village of North Palm Beach, Florida.
Section 2. That the total sum of TWENTY THOUSAND DOLLARS ($20,000.00) may be borrowed
in such amounts and at such times as may be deemed advisable by the Village Council, upon the
execution of notes bearing interest at the rate not to exceed five per cent (5%) per annum.
Interest shall run on each said note executed pursuant to this section from the date of advance
of money evidenced thereby, and each said note shall further become due and payable not later than
the 1st day of Fevruary, 1965.
(SEAL)
ATTEST:
PASSED AND ADOPTED this 29th day of September, 1964.
Village Clerk
Mayor