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A RPSOLTTTION OF THE CITY COUNCIL OF THE CITY OF
GI;ORGETUall TEXAS, AUTTfORIZTNG AtfD DTRECTTNG THE
EXTENSION OF TTIM OF PAYI",MT OF TEE REMAINDER
NOW DUE ON THE $35,000.00, IRAN AUTHORIZING BY OUR
RESOLUTION, OF DATE JMIE 15th, 1954.
W-IEREAS, The City Council of the City of Georgetown, Texas; passed
and approved a resolution, authorizing and directing Lee C. Black, City 14anager,
of said City, to borrow #35,000.00, 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 interest at 3%. and that
in persuance to the said resolution, wn
the saic City Manager borrow of and from
the FAR -',TRS STATE BANK OF GEORGETO,)N TEXAS the sum of 17,500,00, and did
borrow from THE FIRST NATIONAL WK OF GEORGETOM 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
FAM-TTRS STATE RANK and 011,500.00, to the said FIRST NATIONAL BA1%TK, for which
said unpaid amounts, the obligations of the said City is held by the said Banks,
in the proportion above stkted, for the principal and the interest due thereon,
and said Hanks have agreed to extend the said indebtedness..
THEREFORE BE IT RESOLVED, by the City Council of the City of Geortetown
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 )Aanager of the said City, to execute , for,and in behalf of
the said City, extensions of the said unpaid indebtedness, extending the time
of the payment thereof, so that the same will be due and payable on or before
one year from this date.
In absence of City Clerk , T,4r. H. A. Partain is named Clerk -Pro -Tem.
Passed and approved on this the 12 day of Sept. A. L. 1955•
Attests
City Clerk, City of ueor.,�etown, Texas.
rayor,qtV i s o eorgetown, Texas.