HomeMy WebLinkAboutResolution No. 6570 (Repayment of Telephone Loan)RESOLUTION NO. ___ 6_5~7~O __ __
A RESOLUTION OF THE SAN RAFAEL CITY COUNCIL
AUTHORIZING REPAYMENT OF THE TELEPHONE LOAN
FROM BANK OF MARIN
WHEREAS, the City of San Rafael currently has a loan
with Bank of Marin at 12 1/2%; and
WHEREAS, the loan rate now exceeds the rate of return
of City investments.
NOW, THEREFORE, BE IT RESOLVED that the Finance Director
is authorized to payoff the balance of the loan from General
Fund reserves and the unspent balance of the loan proceeds.
I, JEANNE M. LEONCINI, Clerk of the City of San Rafael,
hereby certify that the foregoing resolution was duly and regularly
introduced and adopted at a regular meeting of the Council of said
City 0 n Mon day , the _...:t:..;.w...:e;;.:n:;....t::..:l:::;..· e=-t-=..h=--__ day of June , 1983, by -~===-----
the following vote, to wit:
AYES: COUNCILMEMBERS:Breiner, Frugoli, Jensen, Miskimen & Mayor Mulryan
NOES: COUNCILMEMBERS:None
ABSENT: COUNCILMEMBERS:None
J
26.1 A/16