HomeMy WebLinkAbout1971-09-07; City Council; Resolution 18991
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RESOLUTION NO. 1899
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CARLSBAD AUTHORIZING AND DIRECTING
THE ESTABLISHMENT OF A. LINE OF CREDIT FOR
$300,000.
The City Council of the City of Carlsbad does hereby resolve as
follows :
1. That the City authorize the establishment by the City of a line of
credit with United States National Bank for $300,000 at a maximum in-
terest of 4 l/Z% simple interest on funds used, pursuant to the provisions
of Article 7. 6, Chapter 4, Part 1, Division 2, Title 5 of the Government
Code of the State of California.
2. That the Mayor, Treasurer, and Clerk of the City of Carlsbad are
hereby authorized and directed to execute all necessary documents in
connection with the establishment and drawing upon said line of credit.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City
Council of the City of Carlsbad, California, held on September 7, 197 1 b
the following vote, to wit:
AYES: Cmn. Dunne, McComas, Jardine, Castro and Lewis.
NOES: None.
ABSENT: None.
__I_xI"" "
DAVID M. DUNNE, Mayor
A.T TEST:
City @erk