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Ord. No. 19-84-1214
0^*\ ORDINANCE NO.19-84-1214 AN ORDINANCE OF THE CITY OF SOUTH MIAMI,FLORIDA, AUTHORIZING M.L."HANK"SELSKY,ACTING CITY MANAGER AND SHARON R.HANN,FINANCE DIRECTOR TO BORROW UP TO THE SUM OF $150,000 FROM BRICKELLBANC FOR A PERIOD NOT MORE THAN THIRTY (30)DAYS AND AT AN INTEREST RATE NOT MORE THAN 2%PER ANNUM OVER THE CERTIFICATE OF DEPOSIT RATE OR RATES OR ANY OTHER BANK GIVING THE BEST INTEREST RATE/OR TERMS TO MEET THE IMMEDIATE PAYROLL NEEDS OF THE CITY;AUTHORIZING PLEDGES AND RENEWING CERTAIN CERTIFICATES OF DEPOSIT AS SECURITY FOR LOANS;DECLARING THIS ORDINANCE EMERGENT. BE IT ORDAINED BY THE MAYOR AND THE CITY COMMISSION OF THE CITY OF SOUTH MIAMI,FLORIDA: ••• Section 1.ThatM.L."Hank"Selsky,Acting City Manager and^harqn R .Hannl Finance Director be,and they are hereby authorized to.. borrow up tothe sum of $150,000 from Brickellbanc for a period not more than thirty'(30)days and at an interest rate not more than 2%per annum over the certificate of deposit rate or rates or any other bank giving thebestinterest rate/or termsto meet the immediate payroll needs of the City. Section 2.ThatsaidActingCity Manager and theCity Finance Director be and.they are hereby authorized to execute a security instrument securing the repayment of said loan or loans by the following certificates of deposit,or renewal thereof:No.5030786 .Brickellbanc in an .amount of Slcfe.W^nd No.5029838,Brickellbanc,in an amount of $100,000. Section 3.This Ordinance is hereby declared to bean emergency measure on the.grounds of urgent public need for the preservation of peace,health,safety and property of theCity of South Miami. Section 4.The requirement of reading this ordinance at two (2)separate meeting"of the City Commission is hereby dispensed with by a vote of not less than 4/5 of the members of the Commission. PASSED AND ADOPTED this 20th day ((TENblvtfmWFT'®i*4. ATfES ,Ro»©m««i>t A-Nayman .Guy Clerk ii\ ^pff?*!—.fij^fr /l#fcccor i'mg to trieJrecSrlnrf™f;*Cit o-:5^'th Mla^L G:v?n urv'e my hnmi nnd the SeaTof South Miami,Florida,thte JJ£day of //dlA _-A.D, Rc^se/^t^JJilay02nrCity Clerk riffTrrrs^ *A _r—- .-'rs.~ V .--"'-V+i .»•«. ^/ s<*~*-*** s ...„M-*^.v ,'"n '•'.v.,/: za ••*-Jr*~.~ '0$/')•<:,v-;"r' "*^T>i,h///;????f' r-V.;...«. •-'\\ .\x A0^