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RESOLUTION NO. 76-49 <br />A RESOLUTION AUTHORIZING A LOAN AT THE FIRST STATE BANK <br />OF HUGO FOR $10,000 TO BE USED IN THE STORM SL9JER CON- <br />STRUCTION'FUND FOR CONSTRUCTION UOSTS ABOVE AVAILABLE <br />BONDED FUNDS; <br />WHEREAS, Storm Sewer Project 1975-1 requires additional <br />funds to pay for construction costs above available bonded funds; <br />NOW9 THEREFORE, BE IT RESOLVED, that the;City of Hugo <br />authorizes a loan at the First State Bank of Hugo for $10,000 <br />at 8% interest, payable in six months, with a renewal clause <br />of ,an additional six months, which was negogiated by Treasurer <br />Bernier and Councilman Marvin LaValle. <br />Adpoted and passed this 2nd day of August, 1976. <br />ATTEST: <br />� W1 <br />CLERK <br />MAYOR <br />