Resolution 78-79-10-01
RESOLUTION 1978-79-10-1
A RESOLUTION OF THE CITY OF WYLIE, TEXAS, AUTHORIZING THE BORROWING
OF $20,772.80 FOR A FIVE-YEAR PERIOD ON THE PURCHASE OF APPARATUS
TO EQUIP A 1978 FIRE TRUCK; WITH FIVE YEARLY PAYMENTS.
WHEREAS, The City of Wylie has purchased from FMC Corporation, a
Fire Truck Apparatus installed on a 1978 Chevrolet cab and chassis
for a total of $26,966 for the apparatus; and,
WHEREAS, The City Council of the City of Wylie has expressed the
desire to finance the balance due of $20,772.80 through the 1st State
Bank of Wylie at 6% simple interest; and,
WHEREAS, the annual payment due shall be twenty (20)% of the total
amount borrowed plus one year's interest on the balance due.
NOW THEREFORE, BE IT RESOLVED; that Mayor John W. Akin and City
Manager Denton W. Miller be authorized to secure a loan of $20,772.80
for a five-year period to finance the balance due on the Fire
Apparatus; with five yearly payments.
PASSED AND APPROVED, THIS THE 10th DAY OF OCTOBER, 1978.
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i;9~in W. Akin, Mayor
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Sarah A. Connelly
City Secretary