Ord 3379 10/3/1978 ORDINANCE c5d 79
ORDINANCE APPROVING TEMPORARY LOAN FROM PARKER SQUARE
STATE BANK FOR RENEWAL OF NOTE FOR PURCHASE OF T-HANGARS
AT MUNICIPAL AIRPORT.
WHEREAS, by Ordinance #2525, adopted September 19, 1978, the Board of
Aldermen gave public notice that, at the meeting on October 3, 1978, the
Board would consider an ordinance authorizing a temporary loan from Parker
Square State Bank to renew the balance due of $10,502.00 on a note given
for a temporary loan used to pay for T-hangars at Municipal Airport.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
In conformity with Section #100 of the Charter, the City of Wichita
Falls is hereby authorized to make this temporary loan, and the City
Manager is authorized to execute a promissory note in the sum of $10,502.00,
payable to the order of Parker Square State Bank, with interest at the rate
of 3 3/4 percent per annum; such note shall be payable in eleven monthly
installments of $364.55 each, and a twelfth monthly installment in an amount
equal to the balance due on said note.
As the above described note is now due and payable, this ordinance is
declared to be an emergency measure, and it shall become effective upon its
passage.
PASSED AND APPROVED THIS THE 3RD DAY OF OCTOBER, 1978.
47th4,,,(fre27.
MAYOR Pro tern
ATTEST:
City Clerk
9■