03-28-1973-Resolution-Borrowing money from First National Bank - Ford Tractor-03/28/1973RESOLUTION
WHEREAS, The First National Bank of Sanger is the
official depository of the City of Sanger, Texas; and
WHEREAS, the said First National Bank of Sanger is
in the business of loaning funds for interest; and
WHEREAS, The First National Bank of Sanger has ex-
pressed a desire to loan the City of Sanger necessary
funds to purchase a Ford tractor with backhoe and loader;
and
WHEREAS, such funds will carry simple interest at the
rate of six (6) per centum per annum;
NOW THEREFORE, BE IT RESOLVED by the City Council of
the said City of Sanger, Texas, that the First National
Bank of Sanger is hereby authorized to loan funds as may
be necessary for the purchase of said tractor, and charge
interest at the rate of six (6) per centum per annum until
maturity.
PASSES AND APPROVED by the City Council of the City
of Sanger this the 28th day of March, 1973.
Secretary