R 0827
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RESOLUTION N00827
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE AUTHORIZING BORROWING OF
MONEY PURSUANT TO GOVERNMENT CODE SECTION
53850, ET SEQ.
WHEREAS, California Government Code Section 53852
authorizes local agencies to borrow money for any purpose for
which the local agency is authorized to expend monies, including
but not limited to capital expenditures,
WHEREAS, the City of Arroyo Grande has been offered a
loan for the sum of $8,270.00 at an interest rate of 4.25% per
annWTt:
NOW, THEREFORE, BE IT HEREBY RESOLVED AS FOLLOWS:
Pursuant to the provisions of California Government
~p Code Section 53850, Et Seq., the City Council of the City of
Arroyo Grande hereby authorizes that the Mayor and City Clerk
execute a note with the Mid-State Bank for the sum of $8,270000
plus interest at the rate of 4.25% on said principal sum;
On motion of Councilman Levine, seconded by Councilman
Schlegel and on the following roll call vote, to wit:
AYES: Councilmen Schlegel, Levine, Wood, Smith and
Mayor Thompson
NOES: None
ABSENT: None
the foregoing resolution was passed and adopted this 24th day
of June, 1969.
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ATTES~~ ~/~A
. CI LERK
I, Polly So Miller, City Clerk of the City of Arroyo
Grande, County of San Luis Obispo, State of California, do hereby
certify that the foregoing Resolution No. 827 is.a true, full
and correct copy of said Resolution passed and adopted by the City
Council of the City of Arroyo Grande at a regular meeting of said
Countil held on the 24th day of June, 1969.
WITNESS my hand and the seal of the City of Arroyo Grande
affixed this 25th day of June, 1969.
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City rk of the City of Arroyo Grande
(seal)
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