R-79-201 - 4/26/1979RESOLUTION NO, AN)?
WHEREAS, the Council has previously agreed to purchase a
Meyers High Velocity Sewer Cleaner, and
WHEREAS, the Council now desires to borrow the necessary funds
to purchase said Cleaner, and
WHEREAS, the amount of money necessary to be borrowed is
$9,642.00, and
WHEREAS, the Council anticipates the collection of ad, valorem
property taxes for the present tax year sufficient to repay the
loan, and
WHEREAS, the amount to be borrowed does not exceed ten percent
(10 %) of the budget for the present fiscal year, and
WHEREAS, the note shall be designated "Tax Anticipation Note
for the Year 1978- 1979" and,
WHEREAS, Section 8.07 of the Home Rule Charter for the City
of Round Rock, Texas provides for such borrowing and has been
complied with, now therefore
BE IT RESOLVED . BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS, THAT
The Mayor is hereby authorized and directed to execute on
behalf of the_City of Texas a note in'the' amount of $9,642.00 which
such note shall be designated a "TaxAnticipation Note For the
Year 1978 - 1979'." � 1
RESOLVED this the p day of April, 1979.
4ATTEST:
JO
NNE LAND, i y Secretary
.e RRY L . TO 1 , Mayor
City of Round Rock, Texas
SECURITY AGREEMENT
Date
A. PARTIES
1 Debtor City of Round Rock
Check one: ❑ individual ❑ partnership ❑ corporation ❑ other
April 26, 1979
2. Address• 214 East Main, Round Rock, Williamson Texas 78664
street or RFD eountr state sip
Address shown is ❑ place of business ❑ chief executive office (if more than one place of business) ❑ residence
3. Bank• First National Bank
4. Address• P. 0. Box 5, Round Rock, Texas 78664
(Information concerning this security interest may be obtained at the office of the bank shown above.)
B. AGREEMENT
Subject to the applicable terms of this security agreement, debtor grants to bank a security interest in the collateral to
secure the payment of the obligation. A. carbon, photographic, or other reproduction of this security agreement may be
filed as a financing statement.
C. OBLIGATION
1. The following is the obligation secured by this agreement: e•
a. All past, present, and future advances, of whatever type, by bank to debtor, and extensions and renewals thereof.
b. All existing and future liabilities, of whatever type, of debtor to bank, and including (but not limited to) liability
for overdrafts and as indorser and surety.
c. All costs incurred by bank to obtain, preserve, and enforce this security interest, collect the obligation, and maintain
and preserve the collateral, and including (but not limited to) taxes, assessments, insurance premiums, repairs, rea-
sonable attorneys' fees and legal expenses, feed, rent, storage costs, and expenses of sale.
d. Interest on the above amounts, as agreed between bank and debtor, or if no such agreement, at' the maximum rate
permitted by law.
2. List notes included in the obligation as of the date of this agreement (show date and amount) :
April 26, 1979 $9,914.42
D. COLLATERAL
1. The security interest is granted in the following collateral:
a Describe the collateral and, as applicable, check boxes and provide information indicated in Item D.I.b. (If debtor's
residence is outside the state: give location of consumer goods, farm products, and farm equipment, and if collateral
includes accounts arising from the sale of farm products, give location of products sold.)
One (1) MHV2 -3SA Myers Sewer Cleaner with 500' of 5/8" Hose.
b. 1. ❑ The above described crops are growing on or are to be grown on:
(describe Iasi estate)
2. ❑ The above goods are to become fixtures on:
(describe real estate: attach Additional sheet. if needed)
FRn- DALLAS
C-lo Rev. 44(
Tuns Onb
3. ❑ The above timber is standing on •
(describe ml estate: attach additional sheet. If needed)
4. ❑ The above minerals or the like (including oil and gas) or accounts will be financed at. the well head or mine head
of the well or mine located on
(describe real estate: attach additional sheet. if needed)
c. If b.2, b.3, or b.4, above, is checked, this security agreement is to be filed for record in the real estate records. (The
description of the real estate must be sufficiently specific as to give constructive notice of a mortgage on the realty.)
❑ The debtor does not have an interest of record; the name of a record owner is
d. All substitutes and replacements for, accessions, attachments, and other additions to, and tools, parts, and equipment
used in connection with, the above property; and the increase and unborn young of animals and poultry.
e. All property similar to the above hereafter acquired by debtor.
2. Classify goods under one or more of the following Uniform Commercial Code categories:
❑ Consumer goods ❑ Equipment (farm use) ❑ Inventory
® Equipment (business use) ❑ Farm products
3. ❑ If this block is checked, this is a purchase money security interest, and debtor will use funds advanced to purchase the
collateral, or bank may disburse funds direct to the seller of the collateral, and to purchase insurance on the collateral.
4. If any of the collateral is accounts, give the location of the office where the records concerning them are kept (if other
than debtor's address in Item A.2.)
5. If this security agreement is to be filed as a financing statement, check this block ❑ if products are covered for financing
statement purposes. Coverage of products for financing statement purposes is not to be construed as giving debtor any
additional rights with respect to the collateral, and debtor is not authorized to sell, lease, otherwise transfer, furnish
under contracts of service, manufacture, process, or assemble the collateral except in accordance with the provisions on
the back of this security agreement.
Additional terms on back.
BANK, By: DEBTOR, B
Signature Sig
Typed
Name and Title
Typed
Name and Title
If this Security Agreement is to be filed as a financing statement, Bank must sign.
LOAN #
PROMISSORY NOTE
$9,914.42
Round Rock, Texas Aoril 26 • , 1979
FOR VALUE RECEIVED, The City of Round Rock, Texas promises to pay to the
order of First National Bank of Round Rock, P.O. Box 5, Round Rock, Texas
78664, at said address, the sum of 9,914.42 , payable in five (5) consecutive
monthly installments of $297.58 each and a final installment of 8,426.52
The first installment to be due and payable on the 26_ day May, 1979 and
the next four (4) installments to be due and payable the_same date of each
succeeding month hereafter, with the final payment being due and payable on
the 30th day of September, 1979. Interest on this note is at the rate of
3.7 %.
BORROWER shall pay interest after maturity at the highest legal rate and
if this note is collected through judicial proceedings, BORROWER shall pay
the amounts actually incurred by HOLDER as court costs and attorney's fees
assessed by a court. BORROWER shall have the right at any time during regular
business hours to prepay this note in full plus accrued interest. BORROWER
shall pay additional interest for default at $.05 per 51.00 of any
installment due and remaining unpaid for 10 days or more. This note is
secured by security interest on the following property:
One (1) MHV2 -3SA Myers Sewer Cleaner with 500' of 5/8 "hose.
This note is made pursuant to Section 8.07 "Borrowing in Anticipation of
Property Taxes" of the Home Rule Charter for the City of Round Rock, Texas.
Borrower further warrants to Bank that it is authorized to execute this note
and is not in violation of any law, its charter, or any other agreement or
instrument binding upon it. Borrower will also deliver to Bank the proper
borrowing resolution for this purpose.
BORROWER hereby acknowledges that this Note was completed as to all
essential provisions and disclosures before it was signed by BORROWER
and a copy thereof was delivered to BORROWER at time of signing.
City of d Rock
By: