HomeMy WebLinkAbout1956-10-24; Municipal Water District; Resolution 31FESOLUTION NO. 31
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARISBAD MUNICIPAL WATER
DISTRICT AUTHORIZIIG THE PRESIDENT AND TREASURER OR SECRETARY OF SAID
DISTRICT TO BORROW THE SUM OF TEJLTHOUSAND (10,000.00) FROM THE SECURITY
TRUST & SAVINGS BANK OF SAX DIEGO, CAFUSBAD BRANCH, AT THE: RATE OF FOUR
PER CENT INTEIlEsT PER ANNUM FOR THE PERIOD OF' NOT MOB THAN ONE YEAR.
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WHEREgS, the Board of Directors of the CARLSBAD MUNICIPAL WATER I
DISTRICT has determined that it is necessary for said District to have
additional money to meet current expenses;
NOM, THEREFORE, BE IT RESOLVED: that the President and Treasurer
or Secretary of said District are hereby authorized to borrow the sum of
Ten-Thousand Dollars (~lO,OOO,OO) from the SECURITY TRUST & SAVINGS BANK OF SAN DIEGO, CAFUSBAD BRANCH, at the rate of four per cent (&) per annum
for the period of not more than one year, 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.
ADOPTED, SIGNED AND APPROVED this 24th day of October, 1956.
ATTEST:
6. L4Ap J
Secretary of the Board of Directors
Carlsbad Municipal dater District
(SEAL)
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Fkesident of theboard of Direhors Carlsbad Municifd Water DisbIict