HomeMy WebLinkAboutR-1977-227 (3) RESOLUTION NO. 227
+++ A RESOLUTION OF THE CITY OF DANIA, FLORIDA
AUTHORIZING THE ISSUANCE OF A PROMISSORY
OBLIGATION BY THE CITY TO THE DANIA BANK,
j DANIA, FLORIDA, IN THE PRINCIPAL SUM OF
$40 ,651 . 00 WITH INTEREST AT THE RATE OF 5 . 0
PERCENT PER ANNUM WITH SAID FUNDS TO BE USED
FOR THE INSTALLATION OF A NEW TELEPHONE
SYSTEM FOR CITY HALL; AND PROVIDING THAT ALL
RESOLUTIONS OR PARTS OF RESOLUTIONS IN CONFLICT
HEREWITH BE REPEALED TO THE EXTENT OF SUCH
CONFLICT; AND PROVIDING THAT THIS RESOLUTION
SHALL BE IN FORCE AND TAKE EFFECT IMMEDIATELY
UPON ITS PASSAGE AND ADOPTION.
WHEREAS , Ordinance No . 90 of the City of Dania , Florida,
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authorizes the City to issue promissory obligations not to
total of $200 , 000 .00 outstanding
exceed the aggregate principal
at any one time , and
WHEREAS , it has been determined by the City Commission
of the City of Dania that it is in the best interest of the
City to install a new telephone system in connection with the
construction of the new city hall , and
$ 1 WHEREAS , it has further been determined by the City r�
Commi.ssion that said installation of equipment should be financed
and that the best terms for financing are those offered by The
Dania Bank, Dania, Florida ,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF
- THE CITY OF DANIA, FLORIDA:
Section 1 . That pursuant to City Ordinance No . 90 passed
'j and adopted on final reading on June 1 , 1976 , the City Commission
of the City of Dania , Florida , hereby authorizes the issuance of
Dania Bank , Dania , Florida , in the
a promissory obligation to The
principal sum of $40 ,651 .00 , bearing interest from date thereof
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at the rate of 5 . 0 percent per annum and payable in five annual
installments of $9 , 389 . 36 each beginning one year from the date
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of execution of said promissory obligation. i
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Section 2 . That all resolutions or parts of resolutions ,
in conflict herewith are hereby repealed to the extent of such
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conflict.
Section 3 . That this resolution shall be in force and
take effect immediately upon its passage and adoption.
PASSED and ADOPTED this 9th day of August 1977 .
MAYOR COMMISSIONER
ATTEST:
CITYICLERK - AUDITOR
APPR0I1EC f0:, rw,
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