R-65-058• •
RESOLUTIONS
NO. 58
!V°_ 94
WHEREAS, the City Council of the City of Clermont has entered into
a contract with R. Lane Spikes, doing business as Spikes Builders, New
Port Richey, Florida, to construct for the City of Clermont a certain
community building, a part of the same being the old Publix building,
also known as the George W. Jenkins Auditorium, and
WHEREAS, it is necessary and fundamental that provisions be made
for the financing of this contract as well as architectural fees, the
same being approximately $76,000.00, and
WHEREAS, a meeting of the City Council of the City of Clermont was
duly called and held on Tuesday, December 28, 1965, to consider means
of financing the amount of $76,000.00, therefore
BE IT RESOLVED by the City Council of the City of Clermont at this
Special meeting that the City Attorney be, and is, instructed to draw
an appropriate Ordinance providing for the funding of the above named
amount for the above named purpose in the following manner:
That the amount of $76,000.00 be borrowed from the Equipment Replace-
ment Fund Reserve of the City of Clermont and be repaid out of the General
Fund of aforesaid city on a budgeted basis together with interest at the
rate of three and one half percent (32~) per annum in accordance with
the following schedule:
Fiscal Year Interest Principal Total
1966-67 1,650.00 9,000.00 10,650.00
1967-68 2,345.00 10,000.00 12,345.00
1968-fig 1,895.00 10,000.00 11,895.00
1969-70 1,645.00 11,000.00 12,645.00
1970-71 1,260.00 11,500.00 12,760.00
1971-72 857.00 12,000.00 12,857.00
1972-73 438.00 12,500.00 12,938.00
BE IT FURTHER RESOLVED that this City Council of the City of Clermont,
Lake County, Florida, endorse and approve such proposal as set forth
hereinabove.
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ADOPTED at a Special Meeting of the City Council of the City of Clermont,
Lake County, Florida, held on December 28, 1965
t~. ~ M. ~o nson city clerx
Cit of le ont, Florida