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RESOLUTION TO AUTHORIZE THE MAYOR TO FINANCE THE PURCHASE OF A FIRE TRUCK
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WHEREAS, The City of Jonesboro has purchased and has received delivery of a Howe aerial ladder fire-truck and related equipment and it is necessary to finance the purchase thereof.
NOW THEREFORE, BE IT RESOLVED that the Mayor and the City Clerk are authorized and directed to apply all available funds and balances in the fire-truck and execute certificates of indebtedness or notes to either bank or banks, or to the City Water and Light Plant of Jonesboro, Arkansas, at not more than 6 ½% simple annual interest, for the balance due on such purchase and to pledge, assign and apply all future payments from the City Water and Light Plant Fire Truck Fund to the payment of such indebtedness, and further, to pledge, assign and apply, subject to prior and existing pledges for City Hall bonds, all payments to be received from the City Water and Light Plant deposited into the City Hall Bond Fund.
PASSED and ADOPTED this 23rd day of November, 1970.