HomeMy WebLinkAbout89 of 1976 - A resolution authorizing Joseph L. Fakler, City Treasurer, to sign all documents and agreements pled • Resolution No. 89
By Jennings Phillips, Jr.
COMMISSIONER
Resolution authorizing Joseph L.
Fakler, City Treasurer, to sign
all documents and agreements
pledging and assigning time cer-
tificates of deposit from Walker
Bank and Trust Company as col-
lateral on a loan of $1,000,000.00';
from Zions First National Bank.
Iffenikibleribeidtiftemissiestes
AND PASSED
DEC2 a)976
art flcORr
tl
f,{
.1,:ttszr.bror Zi. I Oli
Jasspit
City Triraystet
ill City awl Coasty 1411.44$111$
lashro City, Uto‘b
Dsokt t
Tit* board at City C,ossialrissiossrs, at It. rallettaii 104.7* Plis044 444001144w4
Qt 19/4 sktthorising Too to sign all doe:manta sad astrossarosts
plsdgias *ad stolgais4 ttx,w soritifiestroa at **posit Ivan walk*, thonlo Amid
?met Comprosty as eallsistal tos s CUM of $1.000.6430.00 Irmo,. 7 loss iirst
National Eau.
Tours truly.
City **cord*,
tb
ccl
Constatoorotaasr
Mayor Wit***
Couunisol***, Astir,
6onkstritositerot 0*****,
Covensisiletver liogeoyeta
City Auditor
Woo
ROLL CALL
VOTING Aye Nay Salt Lake City,Utah, Deremher 28 ,19 2__
/Mr.Chairman ✓
I move that he R solution be adopted. "1 \
Agraz
Greener 6 , :t , i, z!
Hogensen j
Phillips / z
RESOLUTION
Result j
WHEREAS, Salt Lake City Corporation presently holds the following
time certificates of deposit from Walker Bank & Trust Co. :
Certificate No. 51907 dated December 14, 1976 maturing
March 21, 1977, for 97 days, yielding 51% interest, amount
of certificate $250,000.00.
Certificate No. 51041 dated December 14, 1976 maturing March
24, 1977, for 100 days, yielding 51 % interest, amount of cert-
ificate $250,000.00.
Certificate No. 51917 dated December 14, 1976 maturing
April 5, 1977, for 112 days, yielding 51 % interest, amount
of certificate $200,000.00.
Certificate No. 51915 dated December 14, 1976 maturing
April 5, 1977, for 112 days, yielding 51% interest, amount
of certificate $200,000.00.
Certificate No. 51921 dated December 14, 1976 maturing
March 21, 1977, for 97 days, yielding 51% interest, amount
of certificate $100,000.00; and
WHEREAS, the City is desirous of borrowing $1,000,000.00 from
Zions First National Bank for a period of 30 days or demand at 614%
interest commencing December 27, 1976; and
WHEREAS, Zions First National Bank is desirous of making said
loan to the City upon the pledging by the City of the said time certi-
ficates as collateral for said loan.
NOW, THEREFORE, the Board of City Commissioners of Salt Lake
City Corporation hereby authorizes its Treasurer, Joseph L. Fakler,
to sign all documents and agreements pledging and assigning said
Walker Bank certificates as collateral on !saai�d� Zions Bank loan.
DATED this 28th day of December i ' 76
'—!/----fit" / ��/
MAyOh� ��
/✓ �r A L u 11, .':W it.
COM SIONER CCP oc Y "
4 Glen N. Greener (ABSENT) Ai . �ir��
COMMISSIONER CeMISSIO "V