1964-205 Village to Borrow $30,000• RESOLUTION N0.20~ - 1964
A RESOLUTION OF THE VILLAGE COiTI~fCIL, NORTH PALM BEACH, FLORIDA, AIITHORIZING THE VILLAGE
' TO BORROW THE SUM OF THIRTY THOUSAND DOI,LAR3 030,000.00) IN ANTICIPATION OF TAXES TO BE LEVIED
FOR THE CALENDAR YEAR 1964
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WHEREAS, the Village of North Palm Beach is in need o£ 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 THIRTY THOUSAND
• DOLLARS 030,000.00) 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 U, 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 TAE 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 THIRTY THOUSAND DOLLARS 030,000.00) in the name of and on behalf of the
Village of North Palm Beach, Florida.
Section 2. That the total sum of THIRTY THOUSAND DOLLARS ($30,000.00) 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 o£ advance of money evidenced
thereby, and each said note shall further become due and payable not later than the 1st day of
February, 1965, from the proceeds of taxes levied for the year 1964.
PASSED AND ADOPTED this 12th day of AUGIIST, 1964.
' Vice-Mayor
(SEAL)
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ATTEST:
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