1987-110-RES WHEREAS, by letter to the Mayor of Paris, dated May 22, 1987, (the "Commitment") and accepted on

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RESOLUTION NO. 87-110 WHEREAS, by letter to the Mayor of Paris, dated May 22, 1987, (the "Commitment") and accepted on behalf of the City on June 3, 1987, by authority of Resolution No. 87-043 passed by the City Council of the City of Paris on April 13, 1987, the National Trust for Historic Preservation agreed to make a loan to the City in the principal amount of $50,000.00 (the "Loan") for the purposes and on the terms and conditions set forth in the Commitment; and, WHEREAS, the City intends to use the proceeds of the Loan to assist in the construction of permanent sheds for the City's historic Market Square Farmers' Market; and, WHEREAS, the City will execute a promissory note (the "Note"), to evidence the Loan, in the form of Exhibit A attached hereto; and, WHEREAS, there have been submitted to this meeting the Note and related documents to be executed on behalf of the City to evidence and secure the Loan; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, That the City shall borrow the Loan pursuant to the terms and conditions of the Commitment; and, BE IT FURTHER RESOLVED, that, all actions by Billy Joe Burnett, Mayor, in accepting the Commitment are hereby approved; and, BE IT FURTHER RESOLVED, that, Billy Joe Burnett, Mayor of the City of Paris, be, and he is hereby authorized and directed to execute on behalf of the City of Paris the Note in the form attached hereto as Exhibit A and to execute any other documents required in connection with the Loan. Passed and adopted this 19th day of October, 1987. ATTEST: ~~\.~~~) Mattie unning am, C'ty C erk APPROJED AS;%' FORM: A ~ /./