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<br />RESOLUTION NO. 32
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<br />City of Seward, Alaska.
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<br />WHEREAS, by virtue of the second paragraph of Section 13, Chapter 77, of the
<br />Session Laws of Alaska for 1935, the City of Seward is presently indebted to the
<br />Seward Branch, 1st National Bank of ~chorage ill the amo~t of, 15.,500.00, which is
<br />due February 3, 1953, and
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<br />\>1HEREAS the said City of Se'lotard does not have on hand adequ.te funds to pay
<br />the said indebtednus by napon of the faqt "Ul4t the W.t;e~,,~paJi.tm.~1: Rev..., ~
<br />Issue has not yet been comPleted, and the Clty therefore can expect no substantial
<br />amount of bond money pri<lJ:' to April 3, 1953,
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<br />WHEREAS the 1-1&:\;eJ:' De~~nt of the CUI of Sew&r~, .ne4ld. the, foreqoing amount
<br />to meet its current obUgatioN, and "
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<br />NOit:,"Dt;EREmRE~ -!:~:;tlI!IlRES:lLttDhtlhrit:~efMliifwr4incl., C~~y ,qJ.e~k of "the City of
<br />Seward be, and they hereby are, .u~ori.ed lP\dQi:r:.c~.d. t.o ,exeRt4l oae promissory
<br />note substantially in the rorm he'reiwtu set forth to the order of the Seward
<br />Branch, 1st Natiol\8,l Buk of Allchorage,whiClh .e.11 be for t5, aOQ.oo aM interest
<br />at the rate of 61. per llQIlWI1 frOlll the date thereof, and
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<br />BE IT FUI?l'HER RESQLV:sD that the fom of, Mid note shall be aubStatlUally as
<br />follows:
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<br />Febroary, 1953
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<br />Seward, AlalJka
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<br />Por val.ue receiTBd, the C:i.ty of ~, Alaska, a IlIUnictPe;l
<br />corporation, does hereby promise to pay within sixty (60) days
<br />frQlll the :dUe hereof t.o the order 'of thes.wardBranoh~ 1St '
<br />National ~nk of hnchorage the sum of 35,500.00, and interest
<br />thereonfraathh <lilts until the dite of paY'llienf, at' the rate
<br />of 6'1. per annum; and to secure the said payment the City of
<br />SlIward ,hereby pI".. to the lto1dtfr. hereof such portion of its
<br />tax revenues to be collected by April 3, 1953, or as so~n there-
<br />after .apOS'.1ble, a. MY be necesSary to satisfy the said
<br />obligation in full.
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<br />sse Painter, yor .
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<br />Publication of this resolution shall be made by posting a copy hereof on
<br />the city hall bulletin board for a period of ten (10) days fo1lowinq the passage hereof.
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<br />Introduced, passed, and approved this 2nd day of F,b~ary, 1953, the ~l.,
<br />gove~.i~q the introdaetion and passage of resoluti6ns'haveing been suspended.
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<br />aeJt'~ Painter, Mayor
<br />City 'Of Seward
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<br />ATl'E3'l':
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<br />.8!grld earns, i ty Clerk
<br />Ci ty of Seward, Alaska
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<br />C g R '1' t F.I CAT E
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<br />32 I, Siqrid Stearns, Clerk of the City of Seward, Territory of Alaska, do hereby
<br />certify that the foregoing resolution is a true, full and correct copy of a resolution
<br />duly adopted by the City Council of said city on the 2nd day of February, 1953, and
<br />Pagethat the same has been entered in the minutes of the meeting of said Council for said
<br />date.
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<br />Sigrid stearns, City G1erlk
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