HomeMy WebLinkAbout96-27ORDINANCE 96-27
Authorizing the establishment of a
Line of Credit to Provide Overdraft protection
on the Town's Checking Account in An
Amount not to exceed $400,000
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Adopted: October 1, 1996
Effective: October 1, 1996
. ORDINANCE 96-27
AUTHORIZING THE ESTABLISHMENT OF A
LINE OF CREDIT TO PROVIDE OVERDRAFT PROTECTION
ON THE TOWN'S CHECKING ACCOUNT IN AN
AMOUNT NOT TO EXCEED $400,000
Be it ORDAINED by the Town Council of the Town of Pulaski, Virginia, sitting in regular session
on October 1, 1996, that the Town Manager and/or the Town Finance Director are authorized and
directed to establish a line of credit in an amount not to exceed $400,000, at any financial
institution where the Town maintains its general checking account as overdraft protection on such
checking account.
This authorization is effective until June 30, 1997 and said line of credit and this authorization
must be renewed for each successn~efiscal year.
This Ordinance is effective upon adoption this 1st day of October, 1996, and is adopted by duly
recorded vote of the Town Council as follows:
John A. Johnston - Ave Charles W. Stewart, Jr. - dye
• Lane R. Penn -Absent W. Edgar Hale _ Aye
Bettye H. Steger - AYe Pauline G. Mitchell No
W. H. Schrader, Jr. - Aye James M. Neblett - No
BY:
W. S er, Jr.
Vice yor
ATTEST:
~J
Ru A. Harrell
Clerk of Council
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I, Ruth A. Harrell, Clerk of the Council of the Town of Pulaski, Virginia
i do hereby certify that the foregoing Ordinance No. 96-27 is a true and correct
copy of the Ordinance set out and adopted October 1, 1996.
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