142RESOLUTION NO./^3ls
WHEREAS,the Federal Public Housing Administration has established by
aporaisal a price of $17,000 plus contingencies amounting to an estimated total
20,000 for the two war housing projects in the City of Moses Lkke,and
WHEREAS,it has been determined by the City Council that said projects
shall be operated by the Grant County housing;authority and that said authority
estimates the net income to the City of Hoses Lake for 1957 will amount to 020,000,
and
EREAS,the Federal Government requires payment in cash or a mortgage
note of which only the former,or payment in cash,can legally be complied with
by the City of Moses Lake,and
WHEREAS,The Central '.-.'ashington State Bank is willing to handle the
financing for the city,
NOW,THEREFORE,BE IT RESOLVED that the City Council of the City of
Moses Lake does hereby authorize the Mayor and City Clerk to issue general obli
gation registered warrants in the amount of ;j20,000 to the Central Washington
State Bank at the rate of 3 l/h per cent,and to proceed with all other require
ments necessary to complete the acquisition of these said two war housing pro
jects in the City of i'oses Lake.
DATED this day of £;•^X 1956.
^^\<A
Mayor
Attest:
City Attorney.