RES NO 05-02-1978 5-Z /R78
RESOLUTION No.
WHEREAS, the Farmers Home Administration, U.S. Department
of Agriculture, has made a grant of $292,000 to the City of Van Buren for the
construction of water and sewer lines in connection with the development of
Phase 2 of the Crawford County Industrial Park; and,
WHEREAS, grant funds will be disbursed upon certification by
the•City that the water and sewer construction has been completed in accord-
ance with the approved plans and specifications for this work; and,
WHEREAS, the City of Van Buren must finance the improvements
during the progress of the project by interim financing;
NOW THEREFORE BE IT RESOLVED by the City Council of the City
of Van Buren that Allen Ray Toothaker, Mayor, is hereby authorized and
directed to borrow from local financial institutions a maximum of $292,000
for the interim financing of this project;
PASSED, APPROVED AND ADOPTED this P day of May, 1978.
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ATTEST:
C ity"`Clerk