HomeMy WebLinkAboutResolution No. 2750M�
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1 RESOLUTION -,NO.
2 A RESOLUTION OF THE 'CITY COUNCIL OF THE CITY OF
AZUSA; COUNTY OF, LOS ANGELES, STATE OF CALIFORNIA,
3 AUTHORIZING THE INVESTMENT OF SURPLUS FUNDS AND
TRANSFER OF FUNDS.
4
5 The. City Council of the City of Azusa does hereby resolve as
6 follows::
7 Section 1. That there is on.cash deposits in the bank more
8 money than is required for the._.operation 'of the City of Azusa
9 and itis the -desire to invest said funds in Ninety -One Day
10 Treasurer's Certificates.
11 Section 2. The City Treasurer of the City of Azusa is,
12 hereby authorized and instructed to invest $50,000.00.each week
_<a 13 in.United States Ninety -One Day Treasurer'ts Certificates until a
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o dH€ 14 total of $200,000.00 has been invested. and that when said Treas-
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NF; 15 urerts Certificates are paid to reinvest said funds again in said
oZ 16 Certificates pending further order of_the City Council.
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'a�<a.17 Section 3. The City Council of the City of Azusa instructs
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200 18 that sufficient money f-rom thes,hight and Water Reserve and from.
.0j 19 the general funds be used for•the,purpose hereinabove.set.forth
20 and that money in the Light and,*-ater Reserve'be transferred for
21 this purpose.,:.
22 -Section-4. .In addition .to the foregoing the Treasurer of the
23 City of Azusa is hereby authorized.'and'instruete.d`tha.t as:money
24 is deposited.in the Light and"Water Reserve that. said money on
25 each occasion when said reserve.equals.or exceeds $25,000.00r
26- from said reserve likewise United ,States Ninety -One Day Treasurerts
27 Certificates be purchased and that said sum be reinvested as they
28 fall due pending further order of the.City Council:
29. Section 5. It is further resolved that the Mayor shall sign
30 this -resolution and the City,Clerk shall,attest.the same'and certif.
31 as to thepassage and adoption' hereof.'.
32
Karlones,
ATTEST:
h Mayor of the City of Azusa.
M. A. Hyn .,,'
City Clerk of the City of Azusa,
I hereby certify that the foregoing resolution was
duly and regularly adopted by the City Council of
the City of Azusa at a regular
meeting of said Council of said City held in the
regular council chambers of said City Council in
said City.
March 16 1953 and that the same
was passed by the following vote of the Council:
AYES: COUNCILMEN: Jackson, Hernandez, Seltzer,
Memmesheimer, Jones.
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: None
ty Clerk/y0ity of Azusa