Res 2013 9/20/1977RESOLUTION NO. a6/
RESOLUTION AUTHORIZING THE CITY MANAGER TO
PURCHASE THE T-HANGARS AT MUNICIPAL AIRPORT
FROM SOUTHERN AVIATION OF TEXAS, INC. AND
GIVING PUBLIC NOTICE THAT THE BOARD OF ALDER-
MEN WILL CONSIDER AN ORDINANCE AUTHORIZING A
TEMPORARY LOAN FROM PARKER SQUARE STATE BANK
TO OBTAIN THE NECESSARY FUNDS TO PURCHASE THE
T-HANGARS.
WHEREAS, on September 6 , 1977 , the Board of Aldermen
adopted Resolution No. 1994 accepting the bid of Southern
Aviation of Texas , Inc. for the Fixed Base Operator' s lease
at Wichita Falls Municipal Airport; and,
WHEREAS, it was a condition of the bidding for the
Fixed Base Operator' s lease at Wichita Falls Municipal
Airport that the City would obtain ownership of the T-Hangars
located thereat; and,
WHEREAS, Southern Aviation of Texas, Inc. was the maker
of a promissory note payable to the City National Bank of
Wichita Falls, Texas bearing interest at 9. 8 percent with
monthly installment payments of $396. 00 to pay the sum now
due of $14,323. 68 in forty-four payments; and,
WHEREAS , the City deems it advisable to negotiate a
new temporary loan with Parker Square State Bank for monies to
pay off the Southern Aviation of Texas , Inc. note being held
by the City National Bank at the interest rate of 3 3/4
percent; and,
WHEREAS, the City will require Southern Aviation of
Texas, Inc. to furnish a bill of sale to the T-Hangars at
Wichita Falls Municipal Airport upon consumation of the
financing arrangement described above.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN
OF THE CITY OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The City Manager is hereby authorized to
purchase the T-Hangars at Wichita Falls Municipal Airport
from Southern Aviation of Texas, Inc.
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SECTION 2. Public notice is hereby given that, at the
meeting of the Board of Aldermen on October 4, 1977 at
8:30 o'clock A. M. in the Council Room in Memorial Auditorium
building, an ordinance authorizing such a temporary loan shall
be considered by the Board of Aldermen.
PASSED AND APPROVED this the 20th day of September, 1977.
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ATTEST:
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City Clerk
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