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A RESOLUTION OF TIM CITY COUNCIL OF TIM CITY
OF GEORGETOWN TEAS, AUTHORI7ING AND DIRECTING
THE EXTENSION OF TI:vIE PAY:y'YNT OF THQ REMAINDER
NOW DUE ON THE 035.000.00, LOAN AUTHORIMD BY
OUR RESOLUTION . OF DATE J'UNE�- 15Th. 1954
V'JIEREAS 9 -
The City Council of the City Of Georgetown, Texas;
passed and approved a resolution, authorizing and directing
Lee C. Black, City Manager , of said city to borrow $35,000.(D
with which to pay for improvements being made by the City,
and to in behalf of the City execute notes or warrants, due
and payable on or before one year after date,bearing intrest
at 6%, and that in persuance to the said resolution, the
said city manager borrow of and from the FAR:,ZRS STATE BANE
OF Gil O:tG 'TOWN TEXAS, the sum of $ 17.500.00 and did borrow
from =i FIRST N."%TIONAL BANK OF G-.'ORG-ZTO'.;-."N4 TEXAS, the sum
of $ 17.500.00, and that there is now due and unpaid on
the said loan, $ 11,500.00 to the said FAR:,2:RS STATE BANK
and $ 11.500.00 to the said FIRST NATIONAL BANK, for which
said unpaid amoujits, the obligations of the said City is
held by the said, banks, in the porportions above stated, for
the principal and intrest due thereon , and said Banks
have agreed to extend the said indebtedness.
THEIEFO BE IT RESOLVED, by the City Council of the City
of Georgetown Texas, that the City here and now recognizes,
as valid and subsisting, the above mentioned obligations
of the said City, and does hereby authorize and direct
the said City Manager of the said City , to execute for
and in behalf of the said City, extension of the said unpaid
indebtedness, extending the timeof the payment thereof ,
so that the same will be dueand payable on or before one
year from this date,
in absence of City Clerk, H.A.Partain Is named Clerk -Pro -Tem
Passed and approved this the Day of August, A.D. 1955
212:Z -L
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Ate , getown, Texas
,Texas
Fro -Tem