Ord 2447 9/17/1968 •
ORDINANCE NO. d `6( ;
AN ORDINANCE PROVIDING FOR A TEMPORARY LOAN
IN THE AMOUNT OF $400, 000 .
WHEREAS, the City of Wichita Falls desires to make
a short term loan for operating purposes from the City
National Bank in Wichita Falls: and,
WHEREAS, on September 3, 1968, the Board of Aldermen
adopted Resolution No. 844, giving public notice that, at the
meeting of September 17 , 1968, an ordinance would be considered
authorizing such a temporary loan in conformity with Section
100 of Charter of the City of Wichita Falls.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDER-
MEN OF THE CITY OF WICHITA FALLS, TEXAS, THAT:
The City of Wichita Falls is authorized to make this
temporary loan, and the Mayor or the City Manager is authorized
to execute a promissory note in the sum of $400,000 , payable to
the order of the City National Bank in Wichita Falls, Texas, six
months after the date thereof, at an interest rate corresponding
to the market rate of 91 day U.S . Treasury bills as quoted one
week preceding the execution of the loan.
PASSED AND APPROVED this the /7,6 day o -,,_jw,Iw, i
1968. f
MAYOR
ATTEST:
-Z
�7iw�ct�
CITY CLERK
•
ti