Loading...
5-93-Resolution-Financing Street Improvements-05/17/1993CITY OF SANGER, TEXAS RESOLUTION #R5-93 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANGER, DENTON COUNTY, TEXAS, AUTHORIZING THE FINANCING OF STREET IMPROVEMENTS. WHEREAS, the City %J Sanger needs to provide for the immediate renovation of loth Street, 7th Street and Bolivar Street to improve traffic safety and accessibility, and WHEREAS, upon advice of the Consulting City Attorney, Section 51.035 Section 101.005 of the Local Government Code provide that the governing body of a city such as Sanger may borrow money based WHEREAS, GNB-Sanger, the $410,000 of these str interest rate minus December 15, 1993, September 15, 1994. and upon City's depository, has agreed to finance up to eet improvement projects based on NY prime one percent due in installments on March 15, 1994, June 15, 1994 and NOW, THEREFORE, BE IT RESOLVED By the City Council of the City of Sanger, Denton County, Texas. 1 }. That all funds borrowed from GNB-Sanger shall be due and payable as provided from the approved operating budget of the City of Sanger for Fiscal Year 1993-1994. 2). The maximum amount to be borrowed from GNB-Sanger for the above described road improvements shall not exceed $410,000. PASSED AND RESOLVED this 17th day of May, 1993. ATTEST: Rosalie Garcia City Secretary