HomeMy WebLinkAboutR-1997-018 I
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RESOLUTION NO. 18-97
A RESOLUTION OF THE CITY OF DANIA, FLORIDA,
APPROVING THE LOAN REQUEST TO THE FAMILY
BANK FOR A LOAN OF $119,388.50 FOR THE
PURCHASE OF AN ELGIN WHIRLWIND-DUAL STREET
SWEEPER; AND PROVIDING FOR AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
DANIA, FLORIDA:
Section 1. That the terms and conditions of a loan to the City by
Family Bank in the principal surn of $119,388.50 for the purchase of an
Elgin Whirlwind — Dual Street Sweeper, as set forth in a letter from Family
Bank dated March 13, 1997, a copy of which is attached hereto and made
a part hereof as Exhibit "A" be and the same is hereby approved and the
proper city officials are hereby authorized and directed to execute all
required loan documents.
Section 2: That this resolution shall be in force and take effect
immediately upon its passage and adoption.
PASSED AND ADOPTED on the 25 day of March, 1997.
ATTEST: M OM SSIONER
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CITY CLERK -AUDITOR
APPROVED AS TO FORM AND CORRECTNESS:
CITY ATTORNEY
RESOLUTION NO. 18-97
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.---,\ Fam1O1Y Bank
A Return to Local, Traditional Banking.
March 13, 1997
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Marie Jabalee
Finance Director
City of Dania
100 West Dania Beach Blvd.
Dania, FL 33004
RE: Street sweeper loan request
Dear Ms. Jabalee
This letter is to advise you that Family Bank has approved the City's loan request to purchase an
Elgin Whirlwind - Dual Street Sweeper. The terms and conditions are listed below:
Amount: $119,388.50
Maturity: 5 years
Terms: Principal and Interest payable quarterly
Rate: 5.75%fixed, for the term of the note
Collateral: Assignment of City of Dania Storm Water Assessment Fund
Thank you for allowing Family Bank to bid on this transaction. Please feel free to call me if you
have any questi s.
/Sinc . Dorsey
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JCD/jd
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I5991 Ravenswood Road • Fort Lauderdale • Florida 33312• (305) 989-8989
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