HomeMy WebLinkAboutR-1992-004 1 ..
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RESOLUTION NO. 04 - 92
A RESOLUTION OF THE CITY OF DANIA, FLORIDA,
AUTHORIZING THE CITY MANAGER TO COMPLETE THE
ARRANGEMENTS WITH FAMILY BANK OF HALLANDALE FOR A LOAW
IN THE AMOUNT OF ONE HUNDRED EIGHTEEN THOUSAND SIX
HUNDRED FORTY DOLLARS ( $118,640.00) AT THE INTEREST RATE
OF 5. 5% PER ANNUM TO FINANCE THE PURCHASE OF THREE ( 3)
FORD PICK-UP TRUCKS, ONE ( I ) F350 FORD CREW CAB AND ONE
( 1 ) FORD RESCUE TRUCK; AND AUTHORIZING THE APPROPRIATE
CITY OFFICIALS TO EXECUTE ALL DOCUMENTS NECESSARY TO
CLOSE SAID LOAN TRANSACTION; AND PROVIDING THAT ALL
RESOLUTIONS OR PARTS OF RESOLUTIONS IN CONFLICT HEREWITH
BE REPEALED TO THE EXTENT OF SUCH CONFLICT; AND
PROVIDING FOR AN EFFECTIVE DATE. I
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WHEREAS, the City of Dania receives gross franchise fee revenues in Irr
excess of $900,000. 00 each fiscal year, and fire capital impact
revenues in excess of $30, 000.00 each fiscal hear; and
WHEREAS, the city is authorized, under the provisions of Section
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2-12, Article I, Chapter 2 , Code of Ordinances, to borrow money and to
execute a promissory note evidencing the obligation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
DANIA, FLORIDA:
Section 1 . That for the purpose of financing three ( 3) Ford pick-up
trucks, one ( 1 ) F350 Ford crew cab and one ( 1 ) Ford rescue truck, there
i be issued a promissory note of the City of Dania in the total aggregate
amount of One Hundred Eighteen Thousand Six Hundred Forty Dollars f
( $118, 640. 00) The note shall be dated on a date to be determined, and
shall be payable in lawful money of the United States of America as to
principal and interest, and shall bear interest until paid at the rate of a
5 . 5% per annum. Installments of principal and interest shall be due in
quarterly installments of Five Thousand Nine Hundred Thirty Two Dollars
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( $5,922.00 ) each, plus accrued interest, beginning on a date to be
determined and continuing for five calendar years thereafter and shall be
secured by first pledge of revenues to be received by the city from
the payment of franchise fees and secured pledge of revenues to be
{ received by the city from the payment of fire capital impact fees.
Section 2 . That the appropriate city officials are hereby
authorized and directed to execute on behalf of the City of Dania,
Florida, all necessary loan documents and to accomplish all other acts
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necessary to close this transaction.
jSection 3. That all resolutions or parts of resolutions in conflict '
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y Jherewith be and the same are hereby repealed to the extent of such
a . conflict.
Section 4 . That this resolution shall be in force and take effect
immediately upon its passage and adoption.
PASSED and ADOPTED on this 14th day of January 1992.
MA OR - COMMISSIONER
ATTEST:
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CITY CLERK - AUDITOR
APPROVED AS TO FORM AND CORRECTNESS
BY:�'
Frank C. Adler, City Attorney
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-2_ Resolution No. 04-92 "
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