R 0812
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RESOLUTION NOo 812
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE AUTHORIZING BORROWING OF
MONEY PURSUANT TO GOVERNMENT CODE SECTION
53850, ET SEQo
WHEREAS, California Government Code Section 53852 authorizes
local agencies to borrow money for any purp9se 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 4025% per annum;
NOW, THEREFORE, BE IT HERE~Y RESOLVED AS FOLLOWS:
Pursuant to the provisions of California Government Code
Section 53850, Et Seqo, the City Council of the City of ArroY9
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
in the sum of 4025% on said principal sum;
;
On motion of Councilman Schlegel, seconded by Councilman
Smith, and on the following roll. call vote, to wit:
.
AYES: Councilwoman Thompson, Councilmen Levine, Schlegel,
Smith and Mayor Wood.
NOES: None.
ABSENT : None.
the foregoing Resolution was passed and adopted this 14th qay of
January, 1969. I
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ATTEST:~~~A'.u..e-1 ~
CITY RK
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. 812 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 Council' held
on the 14th day of January, 1969.
WITN~SS my hand and the seal of the City of Arroyo Grande
affixed this 15th day of January, 1969.
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CI TY RK 0 E CITY OF ARROYO GRANDE
(SEAL)