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HomeMy WebLinkAboutResolution No. 17736 7 8 9 10' 11 12 13 14 15 16 17 18 19 20- 21 22 23 24 25 26 RESOLUTION NO. 1773 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA, LOS ANGELES COUNTY, CALIFORIT IA, DIRECTI"TG THE CITY TREASURER TO E:AKE RULES AND REGULATIONS AUTHORIZING THE CITY CLERK TO PURCHASE FROM TRUST FUNDS DERIVED THROUGH VOLUNTARY PAYROLL DEDUCTION?S, UNITED STATES SAVIITGS BONDS ON BEHALF OF AND TO THE CREDIT OF AND FOR THE ISSUANCE TO OFFICERS A:%D EYPLOYEES OF THE CITY. WHEREAS Chapter 2 of the Session Lams adopted by the 54th (Second Extraordinary) Session of the Legislature of the State of California provides that the governing bodies of counties, cities, municipal corporations and other public agencies of the State of California are authorized to provide for the purchase of United States Savings Bonds or similar United States obligations by salary or,wage,deductions for such officers and employees who make writtenrequest for such deductions and such purchases, and WHEREAS by said Act of the Legislature all auditors, clerks, treasurers and other disbursing officers are authorized to recognize and act; upon such requests for salary or wage deductions to establish specal'accounts for each such officer and employee so that sufficient funds may be accumulated to the credit of said officer or employee for the purchase of United States Savings Bonds or similar United States obligations, all such funds so accumulated to constitute trust funds; THEREFORE the City Council of the City of Azusa does solve as follows: The City Treasurer be and he is hereby authorized directed to establish and make rules and regulations for a pay - allotment plan whereby the City Clerk may purchase defense stamps 27 28 29 30 31 32 RESOLUTION NO. 1773 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA, LOS ANGELES COUNTY, CALIFORIT IA, DIRECTI"TG THE CITY TREASURER TO E:AKE RULES AND REGULATIONS AUTHORIZING THE CITY CLERK TO PURCHASE FROM TRUST FUNDS DERIVED THROUGH VOLUNTARY PAYROLL DEDUCTION?S, UNITED STATES SAVIITGS BONDS ON BEHALF OF AND TO THE CREDIT OF AND FOR THE ISSUANCE TO OFFICERS A:%D EYPLOYEES OF THE CITY. WHEREAS Chapter 2 of the Session Lams adopted by the 54th (Second Extraordinary) Session of the Legislature of the State of California provides that the governing bodies of counties, cities, municipal corporations and other public agencies of the State of California are authorized to provide for the purchase of United States Savings Bonds or similar United States obligations by salary or,wage,deductions for such officers and employees who make writtenrequest for such deductions and such purchases, and WHEREAS by said Act of the Legislature all auditors, clerks, treasurers and other disbursing officers are authorized to recognize and act; upon such requests for salary or wage deductions to establish specal'accounts for each such officer and employee so that sufficient funds may be accumulated to the credit of said officer or employee for the purchase of United States Savings Bonds or similar United States obligations, all such funds so accumulated to constitute trust funds; THEREFORE the City Council of the City of Azusa does solve as follows: The City Treasurer be and he is hereby authorized directed to establish and make rules and regulations for a pay - allotment plan whereby the City Clerk may purchase defense stamps 1 2 3 4 5 6. 7 8 9 10 11 12 13 14 15 16 17' 18 19 20 21 22 II 23 iNl 24 and bonds.for and on behalf of officers and employees requesting and authorizing payroll deductions therefor. BE IT FURTHER RESOLVED that monies from payroll deductions retained until a sufficient amount has accumulated to the credit of the officer or employee,fo.r the purchase of defense stamps or bonds shall be placed in a special fund to be known as Employeesl. Defense Bonds Trust Fund. BE IT FURTHER RESOLVED that the Mayor shall sign this Resolution and the City Clerk shall certify to the passage and adoption thereof. / IL + arr . Jumper Mayor j�f" the City of Azusa. Attest;' j M. A. H E City Clerk of he City of Azusa. Passed, app6oved and adopted this 5th day of ctober, 1942. I, 1% A. Hynes, City Clerk of the. City of Azusa, 25 Los Angeles County, California, do hereby certify that the fore - 26 going Resolution was duly and regularly adopted by the City Council 27 of the City of Azusa at a regular meeting of said City Council 28 held in the regular Council Chambers of said City Council.in said 29,. City on;October 5, 1942; and that the same was passed and adopted 30 12 13 14 15- 16: 17 18 19 20 21 22 23 24 25 26 27 28- 29 30: 31 32 Ayes Councilmen : Owens, Malone, Bradshaw, Morden, Jumper. Noes: Councilmen None Absent: Councilmen "None To; From: M.'AA. ,HYNES �— 11. A. HYNES, city "Clerk. Thomas L. Munson, City'Treasurer Subject Pursuant to resolution adopted by the City Council',o3 the City of Azusa of.Oct oper 5, 1942, you are hereby authorized.and directed to establish and administer a City, Employees'•Voluntary Payroll Allotment Plan for purchase.of' United States Bonds and/or Stamps, the Principal features of the planto be as follows: - 1. Authorization in.writing to the City by employees of>periodic,deduction from their earnings for the purchase of bonds 03 stamps in specified',:de,Knorainations. The deductions will continue until author>_zata'.an is in writing cancelled or changed. 2., unless authorizataoa is cancelled the amounts so deducted will be'retained by,k.th�,C tj unUil the total accumulated 1 is sufficient to purchase a bond or stamps of the 2_ denomination specified by the employee. When the g required amount has been accumulated, the City will 4 purchase a bond, registered in the name or names 5 as.requested in the payroll allotment authorization. 6 Bonds so purchased will be delivered by the Treasury 7. Department of'the united States or its agencies, g direct to the employee.' 3.Deductions will be made from earnings for one 10 pay period ending the last day of each month .provided such deduction. is not greater than the amount earned 12:' during the payroll period in 'Which the deduction is to 13 be trade. If any ,defense savings bond deduction cannot 14 be'made in full because the, amouA due is insufficient, the deduct}on under-.''th4s plan forHthat payroll period 16 . will be suspenrded Deductipns h kAe amount authorized 17"' ' will be resumed whenever the amount due is sufficient. 18 In the case of advance pay on account of vacations or 19 0 otherwise,-, deductions authorized, will be made from 20 such advanced payments.. 21 22 4. -Where an employee desires to increase or decrease 23, the amount to be deducted each month he will fill.in'a 24- new payroll allotmentauthorizationcard and cancel the E5 old'authorization. Authority,to •cancel or change a 26 particular ,authorization shall be forwarded to the City 27 Clerk at least five days before the effective date. 28 . When'the employee'' leaves the service of the 29 Cit ythe payroll allotment authorization will be auto - 30 .. matically cancelled and any';amount,to the credit of the 31 ` employee's account will be refunded. 32 _4 . yid •J1J �:• r 1. 6. No partial withdrawals may be made from 2 accumulated deductions nor will loans be made against - 4. 7.' The assignment of funds accumulated to the account 5 , of 'an employee will not be permitted. 6 7 8. The City assumes no responsibility-in respect of the bondspurchased wider :this plan after they have been 9 purchased and delivered to, the employees of the City of 10 Azusa. 9. The City°reservesAtfie r"fight^t© reject or cancel. 12 any Ind"ividual auth6rized deduction and; the plan in its 13 `entirety maybe discontinued at the discretion of the 14 City Council'., 15 16 10. The payment to any officer or employee of a 17 ,payroll 'check equal"to the difference between the salary 18 earned and the deductions made pursuant to this resolution, 19 -shall constitute a. full-and complete discharge and acquit- .20 tance 4f .all ;cla:ims and demands whatsoever for the service 21 rendered bysuch employee during- ".the period covered by 22 such payroll,,check or demand. 23 11. In the event that any officers or employee's term 24 of service or employment with tie City terminates before 25 the amount of his authorized deductions has accumulated in 26 his account to an amount sufficient to purchase the bond or 27 bonds or in'the'event any such' payr 28' oll deduction is revoked or cancelled, a demand shall be 'drawn:upon such fund for 29 the amount then standing to the credit of such officer or 30 %, employee to be delivered to him upon the closing of such 31 account. 32 BY AUTHORIZATI OF C1TY TREASURER. -5-