Debt Resolution DEBT RESOLUTION
A RESOLUTION ALLOWING THE MAYOR TO SIGN A LOAN AGREEMENT FOR
THE FINANCING OF POLICE VEHICLES, THAT WERE PURCHASED IN 2008, WITH
FIDELITY NATIONAL BANK.
WHEREAS, municipalities are currently allowed to use public financing for Capital
Purchases, and
WHEREAS, such financing is allowed for a period up to five years, and
WHEREAS, all such agreements must be signed by the Mayor of West Memphis.
NOW THEREFORE, BE IT RESOLVED, that the City Council having met on
December 18th, 2008, voted the approval for the Mayor of the City of West Memphis to
sign such agreement.
FRANK MARTIN
CITY TREASURER
f_
Phillip Para, City Clerk