HomeMy WebLinkAboutOrdinance No. 415 CITY OF THE COLONY, TEXAS
· ORD, NANCE ~ 4/~
AN ORDINANCE OF THE CITY OF THE
COLONY, TEXAS, AUTHORIZING THE CITY
MANAGER TO ENTER INTO A CONTRACT
· AMOUNT OF $ O.~.~.~.__~_(~_ FOR THE
LEASE PURCHASE OF CiVil, nR~NS;R ,qIREN
g TPACWOR~; ATTACHING THE APPROVED
FORM OF CONTRACT AS EXHIBIT "A";
AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE COLONY,
TEXAS:
SECTION 1. That the City Manager of the City of The Colony, Texas is
hereby authorized to execute on behalf of the City a contract with
F,'e~'~C~-o ~;, ~ in the amount of $ ~o,~v. '~, ~o~ ~
~O~O~v,~.~'~)nf.~ ~T~e~ · The approved form of such
contract is attached hereto as Exhibit "A"~ and made a part hereof for such
purposes·
SECTION 2. This Ordinance shall take effect immediately from and
after its passage by the City Council of the City of The Colony, Texas.
DULY PASSED AND APPROVED by the City Council of the City of The
Colony, Texas, on this the ~-~-- day of
APPROVED:
· 'S'aD~I~, M~yor
ATTEST:
Is E AL]
/ 37017~
5576 ~-.- CoI?' FIMST COLONY BANK
· 5200 PAIGE ROAD Loan Number 660388--49
THE COLONY, TE~S 75056 THE COLONY, TE~S 75056 Date APRIL 28 86
Maturity Date APRIL 28 R8
BORROWER'S NAME AND ADDRESS LENDER'S NAME AND ADDRESS Loan Amount 6 30783.84
'T' includes each borrower above, jointly and severally, "You" means the lender, its successors and assigns, Renewal Of
Note: I mrnmi~e tn a to Ouo
P Y Y , your order, at your address above, the sum of (whmh ~s the same as the Total of Payments):
TUIRTY THOUSAND SEVEN HUNDRED EIGHTY-THREE AMD 84 / ] O0 Dollars ,30783.84
I will pay this amount as follows;
Ia) ~ln 24 lnstallments of $_ 1282.66 HAY 28 86
~ each. beginning and continuing on the same day of each ~ month
(b) ~ (other) therealter until paid in full
~TE PAYMENTS: ~f this note is payable in substantially equal, successive, monthly calculated is less than S1,~ The two ddferent methods of calculating this rebate ar;
installments, I agree to pay additional interest of 5% el the amount el a scheduled payment described on Ihe reverse side of this form.
d all or any part of the payment s not paid w h n O days a~ter it is due. If you accelerate and demand psyment in full of the unpaid balance of this note, the
If this note is payable other lhan in subs an el y aqua, successive, monthly in- prec°mputedinterestinc~udedinthenotetotalmustberecalculatedbythesememethodyou
stellments, I agree to pay interest on any payment not made when due et the rate of would use if ] prepaid this note in tug on the date of demand, to determine the amount due.
N/A
% per year from the maturity date of the payment until paid in full. POST-MATURITY INTEREST: Interest will accrue et the rate of
PREPAYMENT AND ACCELERATION REBATE: I may prepay this note at any time, Partial =~ HIG}IEST ~TE ALI,OWAR~.'F RV ~.~ Y y at~r
year on the balance of this note mol paid a malu t includin meturit b acceler i
prepayment will riel excuse any later scheduled paymenls until I pay in full
When I prepay t his note in lull, by cash, renewal, new loan or otherwise, i will be entdled THE PURPOSE OF THIS LOAN IS,
Io e refund or credit on the precomputed interest. The method you will use to calculate the
rebate will depend upon how this note is originally scheduled to be repaid as provided in the
Texas Consumer Credit Code). However, I will no be ant I ed to any reba;e d the amount
ANNUAL PERCENTAGE RATE FINANCE CHARGE AMOUNT FINANCED ~ TOTAL OF PAYMENTS I have the right to receive at this
The cost of my credit The dollar amoun he
ss a yeaHy r~te credit will cost me The amount o~ credit The amount I will have pa~d when time an itemization of the
prowded ~o me or om my behalf I have made all scheduled payments Amount Financed
S 2R072.73 S 30783.84 X YES-lwant
~~ ~ an itemization
Number el Amount of ~ NO - { do not
Payments Peyments When Payments Are Due ~ an itemization
23 s~282.66 H MONTH REGINNTNG
~ 0~ "e" means an estimate
S ~/A Non-filing Insurance
~ PENET~TOR OUTDR EARLY W~RNG SIREN
IN DEER F935 S/N HOF935X36]OI2
DECK S/N HO]O6~X505212
N DEER TRACTOR D-SO WOf}DS ~JOWER
lacked, th~s security agreement (il filed) should be filed in the real estate records. This property will be used for [] Personal [] Business [] Agricullural
al Descrlptmn __ [] )other)
- purgoses.
~lf checked, this is a purchase money ~oan. You may include the name of {he seller or~ the
ard Owner (if riel me) check or dratl for Ihis loan
Ires I agree to the terms of the note and security agreement above )including those on Ihe
other side Of this form) and acknowledge receipt of at least one copy on today's date.
~rson who signs within this enclosure does so to g~ve you a secutdylnterest in I COSIGNERS - SEE NOTICE ON REVERSE SIDE BEFORE SIGNING
operty described above, but assumes no personal obliga{ion [o pay dds note.
f?111; uF this CuI.,ON'Y
MPUTED NOTE, DISCLOSURE. AND SECURITY AGREEMENT.