1949-302RESOLUTION N0. 302
A RESOLUTION AUMORI2ING CLAYTON Y,. ACbEER, KkYOR,
AND SYLVA G. MARTIN, CLERK, TO MAKE, EXECUTE AND
DELIVER A PROUISSORY NOTE FOR FIVE THOUSAND DOLLARS
PAYABLE TO THE COCONUT GROVE EXCHANGE BANK FOR A
LOAN AND TO GIVE AS SECURITY A CHATTEL DDRTAGS ON
CERTAIN EQJIPIDSNT.
BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF SOUTH
MIAMI, FLORIDAe
YHM1EAS, it has become necessary for the City of South Miami to
negotiate a loan for the purchase of certain Strout oquipmant, and
1HRREAS, the Coconut Grove Exchange Bank is wd111ng and has agreed
to make such a loan,
EDA, THEREFORE, BE IT RESOLVED That the Mayor and the Clerk of the
City of South Miami, Florida be and they are hereby authorised on behalf
of the said City of South Miami to make, execute and deliver a promissory
note for Five Thousand Dollars ($5,000.00) payable to the Coconut Grove
Exchange Bank, payable in twenty -four equal monthly installments, be-
ginning within sixty (60) days from date, with interest at the rate of
six peroent (6%) per annum payable on each payment, and
BE IT FURTHER RESOLVED, That the Mayor and Clerk of the City of
South Miami, for the purpose of securing the prompt and full payment of
said note, be and they are hereby authorized and directed to execute a
mortage lien from and on behalf of the said City of South Miami to the
said Coconut Grove Exchange Bank upon the following property now in the
possession, custody and control of the said City of South Miami, in the
County of Dade and State of Floridan
1 Adems Grader #512 with 11 -tooth scarifier Serial #233
powered by International Engine model 86 Series TD 9, Serial
#PDCBM 16677.
1 - 10-ton Buffalo Springfield Roller #11435
1 1941 - Chevrolet dump truck Serial # BM09 1642, Engine
No. AF 61246
1 2-inch Carver pump with 7,000 gallon per hour capacity,
with Wisconsin motor.
1 1,000 - gallon water tank with spray bars.
1 10 -foot suction hose.
1 50 -foot discharge hose.