HomeMy Public PortalAboutRES-CC-1958 no number 71
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
RESOLUTION
WHEREAS, on the 16th day of March, 1953, the City of Moab, a Body Politic of the
State of Utah, by Resolution,duly passed and adopted, entered into an agreement for the
construction of a sewer line and sewer collection facilities to the Miller's Moab Co-op, and
WHEREAS, the aforesaid Miller's Moab Co-op agreed to advance to the City of
Moab the sum of S6,000.00, to defray a portion of the cost of constructing the sold sewer
line, and
WHEREAS, the City of Moab, has accepted and taken from Miller's Moab Co-op in
partial satisfaction of the aforesaid $6,000.00 obilgatlen, the Promissory Note of Miller's
Moab Ca -op in the principal sum of $4,000.00, bearing interest at the rate of six per cent
par annum, payable on or before the 31st day of December, 1958, and
WHEREAS, in order to secure the funds with which to complete the aforesaid sewer
line, It is necessary that the City of Moab endorse, negotiate and discount to the First
Security Bank of Utah, Moab Branch, the aforesaid Promissory Note.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF MOAB CITY,
UTAH:
The Mayor of Moab City, K. E. McDougald, Is hereby authorized and directed to
negotiate and discount to the First Security Bank of Utah, Moab Branch, the aforesaid
Promissory Note and Is further mthorized and directed to execute the necessary instruments
to accomplish the oforesaid negotiation and discount of the subject promissory note.
Approved this 22nel day of April, 1958.
ATTESTS
CITY RECORDER