OR 60-27 Financial Report
6027
AN ORDINANCE AUTHORIZING NEGOTIATION OF A LOAN AND
THE EXECUTION OF A NOTE IN AN AMOUNT NOT TO EXCEED
FIFTEEN THOUSAND ($15,000.00) DOLLARS, AND DECLARING
AN EMERGENCY.
WHEREAS, the Town Council of the Town of Coppell, Texas, have had
under consideration the necessity of procuring funds for the purchase of
certain fire equipment in the amount of approximately, but not exceeding,
Fifteen Thousand ($15,000.00) Dollars; and
WHEREAS, the Town Council have entered into negotiation with the
Lewisville Bank for a loan of approximately, but not exceeding, Fifteen
Thousand ($15,000.00) Dollars on terms that are satisfactory to the
Town of Coppell, Texas.
THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF COPPELL,
That the Mayor and Town Secretary be authorized and directed to
complete the negotiations for said loan and to execute a note on behalf of
the Town of Coppell, Texas, in an amount not to exceed Fifteen Thousand
($15,000.00) Dollars, and to receive the proceeds from said note for the
benefit of the Town of Coppell, Texas.
The fact that the Town of Coppell, Texas, and its inhabitants, are in
immediate need of the relief afforded by the provisions of this ordinance
creates an emergency and an imperative public necessity defending that any
and all rules requiring ordinances to be passed at more than one meeting
be suspended, and that this ordinance take effect immediately upon its
passage, and it is so ordained.
Ordinance 60-27 was passed and approved by the Town Council
of the Town of Coppell, Texas on October 3, 1960.