Resolution to Loan a Sum of Money to Finance the Construction of a Hotel at La SallePage Image
Monday March 5.1849.
The Treasurer submitted following preamble & resolution.
Whereas representations, have been made to the Board of Trustees, of great inconvenience experienced by Passengers arriving at La Salle for want of suitable Hotels for their accommodation, in consequence of which, they are compelled to go to Peru, and whereas the lands and lots at La Salle are chiefly owned by the Trustees, and in the opinion of the Bard and also of individuals, the value of the lands and lots would be greatly enhanced in value by the erection of a Hotel. and whereas Isaac Hardy has offered to build a Hotel suitable for the purposes aforesaid provided he can obtain a loan of money from the Board of Trustees for that purpose, therefore, in view of advantages contemplated, resolved, that a loan of four thousand dollars be made to said Isaac Hardy for the period of three years with interest at seven per cent payable semi-annually, provided the security offered by said Hardy shall be approved by the Board of Trustees
[crossed out] Signed in Washington by Wm H. Swift March 1849 [end crossed out portion]
Signed in New York by D. Leavitt March 5th 1849 D Leavitt
Signed in Washington by W H Swift March 7,1849
Signed in Chicago, March 20th 1849.
Joseph B Wells