99-268 Resolution No. 99-268
RESOLUTION
AUTHORIZING ISSUANCE OF A PROMISSORY NOTE AND LOAN
TO THE HOUSING AUTHORITY OF ELGIN
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that Joyce A. Parker, City Manager, be and is hereby
authorized and directed to issue to the Housing Authority of
Elgin, Illinois, a municipal corporation, a promissory note
and loan in the amount of $75, 000 . 00 plus five (5%) percent
interest repayable in full within twelve (12) months in
substantially the form as attached hereto.
s/ Ed Schock
Ed Schock, Mayor
Presented: October 13 , 1999
Adopted: October 13 , 1999
Vote : Yeas 7 Nays 0
Recorded:
Attest :
s/ Dolonna Mecum
Dolonna Mecum, City Clerk