HomeMy WebLinkAbout72-005RESOLUTION NO. 72-4
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE
A PROMISSORY NOTE, IN BEHALF OF THE CITY OF
PORT TOWNSEND, PAYABLE TO THE CLALLAM-JEFFERSON
COUNTY COMMUNITY ACTION COUNCIL, IN THE SUM OF
TWENTY THOUSAND DOLLARS, REPAYABLE IN SIXTY DAYS.
WHEREAS, it is necessary that certain funds be advanced
in connection with the project for the restoration of the City Hall,
which funds will subsequently be reimbursed to the City of Port
Townsend by the Economic Development Administration, and,
WHEREAS, it appears that the Clallam-Jefferson County
Community Action Council has available the sum of Twenty Thousand
and no/100 ($20,000.00) Dollars, and has offered to loan the same
to the City of Port Townsend, interest fr-e, for a period of two
months, for the purpose of assisting with the financial obligations
on the said City Hall restoration project, now, therefore
BE IT RESOLVED that the Mayor be and he is hereby author-
ized to execute, in behalf of the City of Port Townsend, a promissory
note in the sum of Twenty Thousand and no/100 ($20,000.00) Dollars,
payable to the Clallam-Jefferson County Community Action Council,
to be repaid in the sum of Ten Thousand and no/100 ($10,000.00)
Dollars on or before May 5, 1972, and the next and last payment to
be in the sum of Ten Thousand and no/100 ($10,000.00) Dollars on
or before June 5, 1972.
Passed on April 4, 1972.
c/ ~/May or
Approved ~Is to Form.%~
CityV~torney