HomeMy WebLinkAboutResolution No. 1973-33 -,a ...yc;, a?, %t�r
RESOLUTION NO. 7 3-33
A RESOLUTION AUTHORIZING THE CITY OF CAPE
CANAVERAL TO BORROW S60, 000. 00 FROM THE FIRST
NATIONAL BANK OF CAPE CANAVERAL FOR A PERIOD
OF SIX MONTHS AT FIVE PER CENT INTEREST PER
ANNUM; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Cape Canaveral is in need of borrowing
the sum of Sixty thousand dollars ($60, 000. 00) for a period of six (6)
months for the general fund; and
WHEREAS, the City shall have sufficient funds within six (6)
months with which to repay said short term loan; and
WHEREAS, the First National Bank of Cape Canaveral is willing
to lend said sum to the City at an interest rate of 5% per annum, with
said loan to mature in six (6) months;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF CAPE CANAVERAL, FLCR IDA, AS FOLLOWS:
SECTION 1. The City of Cape Canaveral is hereby authorized
to borrow the sum of Sixty thousand dollars (S60, 000. 00) at the interest
rate of five per cent (5%) per annum, from the First National Bank of
Cape Canaveral, Florida; said principal and interest to be payable
six (6) months from date.
SECTION 2. The Mayor of the City of Cape Canaveral is hereby
authorized to execute a promissory note, on the terms set forth in
Section 1 hereof, on behalf of the City of Cape Canaveral, Florida,
SECTION 3. This resolution shall become effective immediately
upon its adoption by the City Council of the City of Cape Canaveral.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF CAPE
CANAVERAL, FLORIDA, THIS 2 6 thDAY OF JULY, 1973.
Mayor
Atte
ei.4.-c.,,, -- r2,12. --,-,-)ity
Approved as ;toform: ' '— "
/. / ,�
r- Attorne
a
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L a D 69.100 -11 rde, I,om: rem Prtnnq Co., Orlando, npdd. 32801 - 1225285- - '11 -'. -,I -•... �.
COLLATERAL NOTE - SHIGLE'PAYMENT �`� ODU40D
$_30 000.00 Cape Canaveral. nodda B -1 -73 19_ -
Six (6) Months - - - - - - - alter dale the undersigned land U more than ono. - �-
each of them loinlly and severally). hereinafter called Maker, promises to pay to the .,do, el �-
FIRST NATIONAL BANK OF CAPE CANAVERAL
at Its office at Cape Canaveral, norida, hweindter called Bank -I-
Thirty- Thouaand and no/100 - - - - - - - - - - - - - - - ;lu
- -- - - -- Dollars
which .m.nm Ind.dw Pmceeda .1 570, 000.00_ p1.. om., chug.. None t.. x N. No-
of 5 -- In m AMOUNNTT nNANCEO elf 30, DD01•�Qr Ivlero.t e1 an ANNUAL PERCENTAGE RATE -, 5 0. which
atoll. Ina FINANCE CHARGE al 3 75 00 IComPul.d on • 6 month m.tdty, 11 demand oblig'11 I. 11 pot Included above, other __.._._ None In the me.., of f -0-
In..cdbal have been rollo«ed nom M.4e,. A.
.ecurlly I., Iha payment ollhl. Iola Maker ha. pledged e, depe.11ed wJth Bank the following property:
Unsecured - As per Resolution 873 -33
llr,rrndiiy nrr rneA .nak.,rd Oh- dilidmrd. n1.11 ight.to lherrmr {.r. Irririr•. ir�o-rd m, drrmr,d.
nrh prrrk,nu{. �reirh I,rrgn +l N, myrrhrr Ir irhnn1l rlriinerl. rrrr.r .r h.r«rn -.re nrrr- /lrrrnir ,19rd r drf,�.irrri .�ih rii� uk 1 m /IniflihrrCnl-
Irrlr rnl. Thr !'oilnl, rnl is r ise pA.lyrd n..,rrrrilN l-r Ill nlhrr livhlrif ive (brim rN . n Toro. d(rrrl, a rfiog,ot, mh, joint r ,M.
d,rr r.r f.. i.r rvmr rlur o vlivh rr-u hr hrrry {frr vonfrnrtrd a
10-1. r (4rrrl,1419 vrh .Vok!, unit urU nfhr
f.l 1h 4. TM1v • mndrr o{ rA ie rinfr, upon lminnrnf ar afhrrnr'.r,.holl nnl n{7rf 11hAl riyhf of Bonk fu ,In in fhr L'ulln r.r-Ir I "eurrh
„ urn lorhilil4r /rrr
All,noroeto ,educ o « ewhwge..1. or .ub.11lutl.v lo, the Coll.ler.l, p.yme on tt Int e1 IN. loan or t«eaw. of the s .that
Icon mode pnlallyl «wholly open the Collnw.l, may nom ems to me be made without ei1. Wq the p,,,al -^. el tht no e. Benk .hall ........
care In he cue ^dY end ........ on of the C111-1ei to Iha e.Iwl ..qulred by eppllutl.n a ut, end .haU be deam.tl b have e.ercl.ed r wn.ble
o it II Ia4w weh ashen tae the purpose .. Mk., .hall ,xs nobly ,squeal N wminq. but on .ml..lon Io do any .« not ,.qusned Ly Mekr shell be
ml. c d • fa'lu,e to see cis ....noble .od no wlon tp comply wllh any .eque.l of Maker m.tI .1 Rsell be deemed • l.11u,e l..a.,cl.o .o
ss B n4 .hell not bs bound I- wk cony .I.� o elcrsw,y 1. preserve any ,"t I. In N. C.Ilnelel .ga1n.I prior penile. end M.k, ah.l) k4. alien
e «Y 11 Iho Collsmrtlp.h�ll,at any Ilmerbecom. unwWncm,y m -Bwt, Mekw sh.11`w1N n oen.od.y .11., demwdrpI.dg. wd d.po.Il I with ,Bwk 1.
e. spar o.I
the Coilalo,.l edtlill.nal prop.,.y which 1. utkl.ctory to amt.
11 Ban4 deem. In.11 tn.ecwe, c. upon Ih. happening of any of the 1-11--119 ay.nl.. each of which .hall con.titute . d.l.ult h.,• oder.I ell
Its LIIllles of ewh Meier m Bank shell Iher.uPon a, mu,`% el the option .I Benk. without n -lice 11 dema^d, became due .^d payable: I.i fallu,e
.I my Ohllgor iwhich r.,m .hell mean .nd Include ewh Me wrwy and qun.mor el Ihi. nd.l 1. p..loem any agreemanl hereuntler..a
pay Nlpresl hereon wIIAN ten day. eltr II 1. billed or .Nerwk. requ..lsd -. demanded, ar I- pay sny other 11.bllity whn ... r 1. Bank when du-; 11,
tlonh ul wy Obligor: i« Ne i4linq of any pautron under the Benkruplcy Act, or any to Isderal -, wale Inure, by -. ag.Insl wy Obllq -,: d: .n
Iho Ile. IY olc.Ihedepp.immwt of . nc.ivar for, th. making .I .......I ..."o.m. 1-r the b ... hl of « etl Bore by, ar the Inwlvency of any Ob119or: lei
Ohll n lu 9mw1 .g.ms1 my Ob119 -r: III the W.W. q ai wY el achmenl or 9unkhm.nt. or the 10119 0l any Ilan, .9.Inn any p,op.,tY oI
gor: Igl the taking cl po.sw.icn -1 any .ub.l.nllal P.rl of Ne propnty of sny Obligor aI Ihs tnwc. of sny gor.mmenl.l authonry: �.hl Iho
ao^urent merger, rot.- Ird.UOn, or ..or9.nkall -n of sny ObUgo.; 111 N. aaslgnm.nt by any Wk., of any .q,BY L any of Iha C- Iln.wl wrth.gl the wnllen
co of Benk.
• Bank .hell have, but shall not be ILnlled to. Ih. loll -win, tight, ewh of which may b. .....IW .I any em. whoh., o, not thl. nm. Is du.: 10
m Fledge or nand., thk not. and the Collue..l and Ban4 .hall IhereuF -n be r.It ... d of ell dude. end ..eponeibUllle. hereunder and relieved I,cm
any end It Ilm,"Y wldl ,aspect to my Co I_ .. FIed9.d ar tranaf.ned, and any Pledgee .r rwn.ln.e .hall lo. all purpo-w .knit In Iha W. cf
Bank her under and ha all Ih. tight. -1 Bank her unite,; IIL to vends. the whole or sny eon of N. Colinnd into Ihs nom. of Il.ell o
IJI o v e the Cod.leral: ilvl n Ily Iha c611go,. o sny Collaer.l w make payment 1- Bwk of any a -It. due or Io berom. due Ihn.an� Irl W
demand �.. 1-,. coiled, .r make any rompromn. o, anJemwl It deem. tl..l,.blo -lift .el.nnc. I. the Collw•ral; end I,U to III- c-nb.l 11 any prccsed.
of Collweral.
In an Bank le he.eby Siren •Ilan up.. wit ...cwuy 1nler..1 to all Pwpe«Y .1 each ObU9or n r .t wY Um. h.,.alle, I. Ih. In, too .I Ban4
Ihis y lc.pacay 'h.1 ...... Includmq butcnot fimlled to any baknc. or after. of wY d.paU. t won .gonry ecrou I. • .cavity Ica the P•Ymenl of
o Ban4 Ilnciudlnq IlabibR.s 11� hnWk., and Ian, eolhw pu �onh me'Bank .hell h�rek N. wm.url At n jpp;pcman no.a'I ol. a, Ikbllltvlw .1 ea h M.k..
Collateral. r 9 h prop r y . it ha. IIh r spa h
11 Bwk deem. U In.ecum o, upon N. xcurtwc of any dekull h.,wnd.r Benk .hall her. the .,wile, of . urad pa,ty undo, Ih. U.I.
ser cC.mmwd.l Cod..nd, without Ilmillnq h. 9 .Way the lor.gotg. Book m.1l have the .Ighl. Imm.dlatoly me wllhoul lurihe, ac n by It
II .9.Inn this nor. all mon.Y owed by Ban4 t any 11P.dty to .,,h -r any Obi19 -1. wb-Nw o not du., and ako to .it agaln.t .II othn
liabllmw .I weft Maker to Bwk .II mangy .wait by Bwk In any cap by to wcA or any Maker; endr Bank .hall b deemed �to have ..ncis.J ouch
.elcll Intl I- have made • charge against any .urh mon.y Imm.diatly upon Ne occu,..nae .1 ouch tl.lault er.n though .u<h charge k mad.
of B.m. eub..9u.nt Ihuwo. Unl.e. the Collnarel k pukhabla w thr.al.n. to d.cltn..p..ddy N value o, . -I • typo cu
Ic .rlly I Id o a9nlaed .kel. Bank wUl give M.Y., r wonabk node. -1 the dm. end place el any prublic .ale th.,.oi or .I iklllm. efts, which
• ^Y Frlva. .ale cr wy oNer Inl.eded ddpc.11lon Ih.r.ol i. to be mad.. Th. req.lr.m.nt of .e -nabl. no ic. .hall b. mw 11 ouch notice la mated.
pookge prepaid, to .nY Maker .I Iha addrew given blow or at any .than addl....no.. -n in. r. -,d..1 Ih. Bwk, al fetal Ilra days b.fore the tm
cl th...le or dup..man. Upon dl.p..irlon ci any Ccllalwal 'it the occu«wce .t my d.laull h.,.und.,, M.4.r .hall b. end r.maln Ilabl. 1-, any
C.I:«.ncY: and Bank .hall acccunl to Mak., for any .urplu.. but Bank .hall have the tight to apply ell o, apY P-11 of such wrpl u. for to hold the w
w a a9.mn; sny and all mho, IkbdlUw .1 .ach on m M.4., to Bank. me
reN- vdelay or amie ion en Iha put 0l Bank In ..,,1410 wy ,Ighl h.r.wd., .hall opwn. a. w.iv., of .0 <h dght -, .1 my mho, right under
Ilya nor.. Prose to t pr.twl, -
.M .f dl.hon.,. wit .o anal -n .I rim. wlncn ul n.rlc..•e krsby ..aired by t ., wit every Obllgcr. Th.
Odhgon, IainllY and srverally, p: -mice and wree to pay all con. of eolk«ICI wit nmrn.Yi lea..9ual Io 10 : of Iha p,Inclpal .um or ouch far Th.
ounk .. may bs ,ewcn.bl• and I.., Inc — e, end by Ban4 In enl -e:Nq Ihn nm. open N. acrortwce of any tlel.ulr. Any n «ICU 1. Fkkr.l:+ll
sulniciemly .h... I« ail Furp.ee. B 11-cm In Ihs mail, pon.ge P,.,, .d, addm..ed to or 1.11 upon the p,rmk.. al. Ne .tltlmu .hewn Lelow cr any
ho, ddrws .h.wn on Bank'. ,.cord..
M.k.r ..knowl.d9.. r.olpI of a aomplel.d ropy .I Ihl. Not. on Ih..bol. dw.. TY OF CAPE CANAVERAL
ADDR6 105 Polk Avenue
Cape Canaveral, Fla. 32720 /9. _ jn�k 1nn�NSc
----- - � d-' �Y la , • �Yor
/- T7iliita`�`bsJ-E�PUm. ,CIYf4
In a idllbn 1, the liability as tnde,aers, which the undaalgned hereby au a, tar value lroehed and Intending lob legally
bound. the und.,dg.ad land 11 more than one, ewh of them Inbtdy and'.ereullyl lal halaby become
.... ty 1. the Payee a4 he wdthin a
note. It, auaw.wn. l.daneea. and eutgns, tar the Paymonl .1 the within nets and hereby umm.ditl.nally g, ""It the pymenl e1
the within note sad all ul•aa111 1, • wale thalwl and all ..m. pyabls undo, or by virtue th.,rol Including, wllhout bed..".. V
II am.unta al printlpal and Intel .,t and all eapn.,s lmcl.dmg almineyi least Inmned m th. collMlon Iherrol. Ihs'enlolcemant d
righb Iheteund•r or wIN rslpM b any ucudty thereto, and Iha entmcemenl, herrol. and cadre pruemmant. demand, noun o1 die
he... pmtnt and all other Id wbe—'el: and Ibl ....sent and aglea tll Ihat W or any 11 111 Cnlhtelal may be ewhangsd. II .... d.
......dead or rold Ism tlm• to time. 1111 Ihat the pymenl nl the note, a, any of the Ilab1hie• of the Maker the.rol, may be attended
Id n.m 1e.ewed any .umbel el limn and Im any p11ed Iarhethel ar not lengel the. Iha anginal Patted el add note). 1141 that the
MW., of aid .me may g..nl any 1.1. . m intneiu. n dndulgencea wllh aapact 1. slid note a1 any edan•Ime et ..n 1. Neteol
say wmdty Ihe,.m, er to any pfly liable thereunder ., hal —da, (including but na ibnged t. lallura o, laWald to eats. on•
• of Ns rlghb m ..mad in' porid•d by uM notN, and Ilrl N., any of the p,orl.lnm of uld n.ls may b mWdled: di wllhwt
nolintm at ton.anl nl and without allMbsq the IlaMhty a1 the uad.,.lgned a mdoa.,• and .,.ties. and lunhat meant ' and agln
that any of the md.,dgned may be sued by the hoWar helve1 Mth o, Witham Iolvinq any d the nth., Ind.,aal, n maka...1 slid note
and wbhout Ilnt a1 nntempolaneaualy • it, any ouch mhar Pamntn. o. othelw4e •.,klnq a ploceedlnq to mllad III Ihsm ., any
I IAam. and wlthoul Ibd or nntemPalan•owly n"Inaking to .ndalro any lights MIA ,eepd In any amply
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