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RESOL UT ION OF TH E C ITV OF P E LIC A N BAY

Aut ho r i t y to Procure Loans

(Certified Copy)

I HEREBY CERTI FY t hat I am the City Secretary of the City of

Pelic an Bay , Tex as and t h e keeper of the records and City SeaI
of s aid Cit y ; t hat t he following is a true and correct copy of
r es olut ions duly adopt e d at a meeting of the Board of Alderman
t her eof held in ac c or da n c e with its by-laws at 1ts offices at
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day of
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S eptember ,
7987 , and th a t th e sa me are now in ful l force.

COP Y OF R E S OLU TION S

I

BE I T RESO LVED, That the Mayor and Board of Aldermen of this

Cit y , or t heir s uc c es s or s in office, or any two (2) of them be
and t hey her eby ar e auth o r i z e d for, on behalf of. and in the
nam e of t his Cit y t o:
( a) Negot iat e and procure loans from FIRST NATIONAL BANK,
Az le, Tex as , up to an amount not exceeding (if there
j- s no 1im it , so indicdt€) Eightaen thorrsenri r t o l 'l a r s
$ r R. noo oo in the aggregate at any one time out-
s t anding;
( b) Dis c ount wi t h said bank, commercial or other business
paper belong j - n g to this City, made or drawn upon
t hir d par t ies , without limit as to amount;
(c) G iv e s ec ur it y for any liabilities of this City to
s aid bank by pledge or assignment or a lien upon
any per s onal property, tangible or intangible, of
of t his Cit y, and
( d) Ex ec ut e in such form as may be required by the bank
all not es and other evidences of such l-oans, afl-
ins t r um ent s of pledge, assignment or l1en, and that
none of t he same sha1l be valid unless so signed or
endor s em ent of promisory notes discounted may be
ef f ec t ed by a n y o n e o f them.
; I XSO LVED FURTHER, That said bank be and it is hereby authorized
and dj- r ec t ed to pay t he proceeds of any such loans or discounts
as dir ec t ed by t he per s o n s so authorized to sign, whether so
pay able to t he or der of any said persons j-n their individual
c apac it ies or not , and w h e t h e r such proceeds are deposited to the
indlv idual c r edit of an y s a J - d p e r s o n s or not;

RESO LVED FURTHER, That this resolution sha1l continue in force,

and s aid bank m ay c ons id e r the holders of said offj-ces and their
s ignat ur es , r es pec t iv ely , to be and continue as set forth in t h e '.
c er t if ic at e of t he Sec r e t a r y of this City accompanying a copy of
t his r es olut ion when de l j - v e r e d to said bank or in any similar
s ubs equent c er t if ic at e, untiL notice to the contrary tn writing
is duly s er v ed on s aid bank. "
 I HEREBY FURTHER CERTI FY t h a t the following named persons have
b een duly elec t ed to t he o.ffices set opposite their respectiwe
n am es , t hat t hey c ont inue to hold these offices at the present
tim e, and t hat t he s ignat u r e s appearing hereon are the genuine,
o r iginal s ignat ur es of each respectively:

( PI EASE SUPPLY G E N U I N E S I G N A T U R E S H E R E U N D E R )

MAYOR

CITY SECRETARY

ALDERMAN

AI,DERMAN

In W I TNESS W HEREO F, I ha v e hereunto affixed my name as City

Sec r et ar y and hav e c aus ed the City seal of said City to be hereto
af f ix ed t his 1s t . day of , 19 R7 .

Secretary

I her eby c er t if y t hat I am the Mayor of said City and that the
fo r egoj- ng is a c or r ec t copy of resolutions passed as therei .n set

fo r t h, and t hat t he s am e a r e now in fuLl force.