HomeMy WebLinkAboutResolution No. 7680E
RESOLUTION NO. 7680
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A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF AZUSA AMENDING ITS POLICY FOR
HANDLING OF DEPOSITS AND INTEREST RELATED
TO UTILITY SERVICES.
WHEREAS, Government Code Section 53647 provides that
interest on all money deposited belongs to and shall be paid
quarterly into a general fund of the local agency represented
by the officer making the deposit, and
WHEREAS, an analysis of this Code section by City
staff and the City Attorney clarified the intention of this law
as it applies to the City of Azusa, and
WHEREAS, the City Council finds that it is inappropriate
to continue to pay interest on utility deposits, notwithstanding
the fact that previous payment ofsuch interest has served a
public purpose, and that it is not necessary to require the
rebate of this interest from those who have received it.
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of Azusa does hereby abolish the policy of paying
interest on utility deposits, effective May 1, 1985.
ADOPTED AND APPROVED this 1st day of April, 1985.
MAYOR
I HEREBY CERTIFY THAT the foregoing resolution was
duly adopted by the City Council of the City of Azusa, at a
regular meeting thereof, held on the 1st day of April, 1985,
by the following vote of the Council:
AYES: COUNCILMEMBERS: CRUZ, COOK, CAMARENA, LATTA, MOSES
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
DEPUTY CI Y CL