HomeMy WebLinkAbout1954-06-18; Municipal Water District; Resolution 9RESOLUTION NO. 9
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A RLSOLUTION OF THL BOARD OF DIkdCTORS OF THE CARLSBAD MUNICIPAL WATER DISTRICT AUTHORIZING THE PRESIDENT AND TRZASURER OF SAID DISTRICT TO BORROW THE SUM OF TWENTY FIVE THOUSAND DOLLARS ($25 ,OGO.OO) FROM THE SECURITY TRUST AND SAVINGS BANK OF SAN DIEGO, CAHLSBAD BRANCH, AT THE RATfi: OF THREZ AND ONd QUARTER PER CENT INTEREST P6R ANNUM POR THE PBRIOD OF TWidMTY SIX I~KINTHS
A. WHEREAS, the Board of Directors of the CARLSBAD PIUNICIPAL WATEfl DISTRICT has determined that it is necessary for said District to have money to meet current expenses;
dent and the Treasurer of said District are authorized to borrow the sum of Twenty-five Thousand Dollars (i25 000.00) from SXCURITY TRUST SC SAVINGS BANK OF SAN DIEd, CARLSBAD BRANCH, at the rate of three and one quarter percent (34%) interest per annum for the period of twenty-six (26) months, upon such terms and conditions as the said officers deem to be to the best interests of the District, and said officers are further authorized to execute all documents necessary to complete said loan.
B. NOW, THdliEFOKE, BE IT RESOLVED: that the Presi-
The undersigned, WILLIAM W. ROGERS, hereby certifies:
He is now and at all times herein mentioned has been the duly elected, qualified and acting Secretary of CARLSBAD IGJNICIPAL WATER DISTRICT, a duly organized and existing municipal water district; that the foregoing Resolution is a full, true and correct copy of a resolution duly adopted by the Board of Directors of said municipal water district at a regular meeting thereof duly held on June 17th, 1954, at*which meeting a quorum of said Board was at all times present and acting; and that said Resolution has not been modified or rescinded and is at the date of this certificate in full force and effect.
IN WI'I'NESS WHERdOF, the undersigned has executed this certificate and affixed the seal of said municipal water district this 18th day of June, 1954. A
/I, le- Secretarv of the Boardiof Directori of the Carlsbad Municipal Water District