HomeMy WebLinkAbout06-59 RESOLUTIONt- 4
RESOLUTION 6-59
RESOLVED, that the resolution of the Fayetteville City Council
adopted June 10, 1957 authorizing the borrowing of $60,000.00 for
the construction of additions and improvements .at the Fayetteville
Municipal Airport be and the same is hereby rescinded.
BE IT FURTHER RESOLVED, that the Mayor and City Clerk, be
and they are hereby authorized to execute such promissory notes
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as may be required payable to McIlroy Bank and/or the First National
Bank, Fayetteville, Arkansas, in the original total principal .amount
of not to exceed $75, 000.00, together with interest thereon at the rate
of not to exceed four (4%) per cent per annum and due and payable on.
or before five (5) years from the date thereof for the purpose of
borrowing from said banks the necessary funds with which to match
federal funds now available for the acquisition of real estate and the
construction .of additions and improvements at the Fayetteville Municipal
Airport.
Passed and approved this 1st day of April, 1959.
ATTEST:
APPROVED:
�ivU 4t c O�' VV
J. AUSTIN PAR H, MAYOR
CITY ITY CLERK