HomeMy WebLinkAbout1976.08.02 RESO 1976-49RESOLUTION NO. 76-49
A RESOLUTION AUTHORIZING A LOAN AT THE FIRST STATE BANK
OF HUGO FOR $10,000 TO BE USED IN THE STORM SL9JER CON-
STRUCTION'FUND FOR CONSTRUCTION UOSTS ABOVE AVAILABLE
BONDED FUNDS;
WHEREAS, Storm Sewer Project 1975-1 requires additional
funds to pay for construction costs above available bonded funds;
NOW9 THEREFORE, BE IT RESOLVED, that the;City of Hugo
authorizes a loan at the First State Bank of Hugo for $10,000
at 8% interest, payable in six months, with a renewal clause
of ,an additional six months, which was negogiated by Treasurer
Bernier and Councilman Marvin LaValle.
Adpoted and passed this 2nd day of August, 1976.
ATTEST:
� W1
CLERK
MAYOR