Res 1916 2/1/1977RESOLUTION NO. /f/
RESOLUTION GIVING PUBLIC NOTICE THAT THE BOARD
OF ALDERMEN WILL CONSIDER A RESOLUTION AUTHORIZING
A CONTINUING CONTRACT WITH THE FIRST-WICHITA
NATIONAL BANK CONCERNING RENEWAL OF PROMISSORY NOTE
OF WICHITA COUNTY-CITY OF WICHITA FALLS, TEXAS,
HOSPITAL BOARD.
WHEREAS, the City of Wichita Falls sold to Wichita
County-City of Wichita Falls, Texas, Hospital Board all
of Block 257 of the original town of Wichita Falls, save and
except Lot 1 of the replat of Lots 1 through 6 of such Block
257 for a price of Four Hundred Thousand ($400,000. 00) Dol-
lars, for which such Hospital Board executed a promissory note
in that amount payable to the order of the City of Wichita
Falls, that was secured by a vendor' s lien and a deed of trust;
and
WHEREAS, the City of Wichita Falls sold such note,
together with the vendor' s lien and deed of trust, to The First-
Wichita National Bank of Wichita Falls. The contract between
the City and such Bank provided that the assignment of the
note is with recourse; that is, the City shall remain secon-
darily liable on the note, and shall indemnify such Bank from
any loss on the note.
WHEREAS, the installment due on such note on December
30, 1976 is $265, 510. 87, and the Wichita County-City of Wichita
Falls, Texas, Hospital Board has requested that the Bank
renew and extend the unpaid balance of such note into a new
note in such principal sum and payable in 18 equal semi-annual
installments in a sum sufficient to amortize such note, the
first such installment to be due and payable June 30, 1977,
and the Bank is willing to accept the renewal note upon the
condition that the City shall remain secondarily liable on the
renewal note and shall indemnify such Bank from any loss on
the renewal note.
WHEREAS, to secure payment of the renewal note the
Wichita County-City of Wichita Falls, Texas, Hospital Board shall
encumber the above described land by deed of trust lien agree-
ment in favor of the holder of the renewal note.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN
OF THE CITY OF WICHITA FALLS, TEXAS, THAT:
In accordance with Section 103 of the Charter of the
City of Wichita Falls, public notice is hereby given that,
at the meeting of the Board of Aldermen on March 1, 1977,
the Board of Aldermen will consider the adoption of a resolu-
tion authorizing such continuing contract with The First-
Wichita National Bank of Wichita Falls and approval of the
encumbrance of the above described land to secure payment of
the renewal note.
PASSED AND APPROVED this 1st day of February, 1977.
A Y 0 R G 7: ,/
ATTEST:
45J-1,11.4W 7 --
City Clerk
2 -
4'-1-74 l e
s_, Affidavit of Publication
BOARD OF
THE STATE OF TEXAS
COUNTY OF WICHITA
rr BANK, .0'4 . . 4 _IO# " •SSORY NOTE OF
WIG
ITAAFALLS,NEXAS,HOSPI- F On this ,15th day of February
to BOARD.
WHEREAS,the City of Wichita FallssaidtoWichitaCounty•Cify of A.D. ,V77 personally appeared before me, the undersigned authorityWkhitaFala,Texas;Hospital BoardydBitBOO
save and exceptt Lot 1 Roy L. Reaves bookkeeperdataFails,save and except lot 1etthereplatofLots1titrOugh6of
50th Block 257 for a price of FourHundredThousand (54000,000.00) for the Times Publishing Company of Wichita Falls, publishers of theDollars, for which such HospitalBoardextetutedarateinthat*amount payable to the order of Wichita Falls Record News, a newspaper published at Wichita Falls intMWhoisfelts,chat was
e t61rsn.nandadeed Wichita County, Texas, and upon being duly sworn by me, on oath states
WHIIRSAtntilaCity o Wichita FallsSaidsuchnote,together with the yen- that the attached,advertisement is a true and correct copy of advertisingeraIlananddeedoftrust,to The
ltirst+ iCAita Nanette' Sank ofWichitaFalls.The contract between published in One 1 issues thereof or. the followingtheCityantfsuchBankprovidedthatfhe015i9nmentofthenoteiswithre- dates:COutie;that is',the City shall remain
secondarily liable an the note,aand February 12, 1977shaltinderhhitysuchBankfromanylessonthenote.
IuIWHEkLAS,the Installment due on
such We on December 30, 1976 is265,510.57,and the Wichita County.Cityof Wichita.Fails,Texas,Hospital Bookkeep r for Times Publishing CompanyBoardhasrequestedthattheBankofWichitaFallsrenewandextendtheunpaidbalance
Subscribed and sworn to before me this the day and year first above
SEAL) written.
0 -A45/..."MA -
t'• •'. , a i er, r., Notary n,•,;,a
in & for Wichita Cou:.4, i:xas