Resolution Authorizing Continuing Borrowing Procedure for United States National Bank of Oregon RESOLUTION AUTHORIZING CONTINUING BORROWING PROCEDURE FOR
UNITED STATES NATIONAL BANK OF OREGON
BE IT RESOLVED, that the Chairman and •
Treasurer of the Tigard Water District
be and they hereby are authorized and empowered to borrow money in the name of the
Tigard Water District for the purpose of meeting current expenses,
, from the United States National Bank of Oregon, in accordance
with the provisions of ORS 287.402, et seq. , authorizing municipal and quasi-municipal corporations
and civil subdivisions to borrow money upon negotiable short term promissory notes, the amount so
borrowed not to exceed in the aggregate at any one time the sum of $ 50,000.00
or the maximum sum that said Tigard Water District is authorized by said
statute to borrow at the time of any such borrowing, whichever is the smaller sum.
BE IT FURTHER RESOLVED, that said Chairman and
Treasurer of said Tigard Water District
be and they hereby are authorized and empowered to execute, in the name of said
Tigard Water District and sell to the Tigard Branch
of the United States National Bank of Oregon, negotiable short term promissory notes of said
Tigard Water District , for all sums so borrowed, such notes to be without
definite due dates, to bear interest at the rate of -5— % per annum, to be in the form provided
by said statute and to be in such amount or amounts as may be agreed upon between said Bank and
the said Chairman and Treasurer
within the rinks above specified.
BE IT FURTHER RESOLVED, that the Secretary of
Tigard Water District be and he hereby is authorized and directed to
deliver to said Bank a copy of these resolutions, properly certified by him, as evidence of the authority
of said Chairmay+ and Troast]rar
to obtain said loans and execute and deliver promissory notes in accordance with the foregoing.
STATE OF OREGON
) ss.
COUNTY OF Washington
Gene H. Chamberlin , hereby certify that I am the duly
elected, qualified and acting Secretary of Tigard Water District
, State of Oregon, and as such in possession of the record book
containing the records of the meeting of the Board of Commissioners of
Tigard Water District ;
That the within and foregoing is a full, true and correct copy of resolutions, duly and
regularly adopted by the Board of Commissioners of Tigard Water District
at a duly called and held regular*xxctidt meeting thereof, called for that purpose and held
September 9 , 19 75 , at which all of the Commissioners
were present and voted unanimously in favor of said resolutions;
as appears from said record book in my possession.
In Witness Whereof, I have hereunto set my official signature this 9th
day of September 1975 , 19
/ /� /
Gene gm (Title) r
(For use under ORS 287.402 - 287.432 incL by counties, muniicip la bteesla got er pogiti lY
subdivisions authorized to borrow under these ORS sections.)
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