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RESOLUTION NO. 88-24
RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF UKIAH AMENDING RESOLUTION
NO. 88-16 APPROVING AND AUTHORIZING
INCREASE IN INTEREST RATE
WHEREAS, the City Council of the City of Ukiah (the "Council")
adopted its Resolution No. 88-16 dated September 16, 1987, approving
certain lease financing; and
WHEREAS, market conditions now require that the interest rates be
increased.
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City
of Ukiah that Section 4 of Resolution No. 88-16 is amended to increase the
maximum rate of interest to not more than twelve percent (12%) per annum.
This resolution amends Resolution No. 88-I6.
PASSED AND ADOPTED this 2nd day of December, 1987, by the following
roll call vote:
AYES: Councilmembers Schneiter, Shoemaker, and Mayor Henderson.
NOES: None.
ABSENT: Councilmembers Hickey and Kier.
ATTEST: