1962-150 Authorizing a Note for Golf Ball Dispenser
RESOLUTION N0. 150
' A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
NORTH PALM BEACH, FLORIDA, AUTHORIZING THE MAYOR AND CLERK TO
SIGN A CERTAIN NOTE ON BEHALF OF THE VILLAGE.
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WHEREAS, the Village in connection with the operation of
its golf course has need for an automatic "Ball-O-Matic" golf
ball dispenser which can be purchased outright, or can be leased
on a lease purchase arrangement, and
WHEREAS, it has been ascertained if the purchase price
• is borrowed, to be repaid with golf course receipts, it will
cost the Village less than to acquire the machine under the
lease purchase arrangement, and
WHEREAS, First American Bank is willing to made the necessary
loan to the Village;
NOW, THEREFORE, BE IT AND IT IS HEREBY RESOLVED BY THE
VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, as
follows:
' Section 1. The Mayor and Clerk be, and they are hereby,
authorized and directed to execute a note of the Village to said
Bank in the face amount of $2,182.68 to be dated September 18, 1962
and to be repayable out of golf course receipts in 36 monthly
payments of $60.63 each, the first to be due November 10, 1962.
PASSED AND ADAPTED this 20th day of November, 1962.
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• Mayor
(SEAL}
ATTEST:
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Village Clerk