HomeMy WebLinkAbout0432 ResolutionRESOLUTION NO. 432
WHEREAS, the City Council of the City of Pasco is desirous of investing
the sum of $67,312.65 from the Permanent Street Construction
and Storm Sewer Construction Reserve Fund and the sum of
$26,050.56 from the Cumulative Reserve Fund for Permanent Street
Construction and Storm Sewer Construction, and
WHEREAS, there are presently outstanding 4% interest bearing warrants
on L.I.D. #64 held by Terry Thompson Co., and
WHEREAS, the Finance Committee of the City of Pasco has recommended
that said funds be utilized to purchase the aforesaid warrants
to the extent possible, and
WHEREAS, the City Council of the City of Pasco acceptsand approves the
recommendation of the Finance Committee as being to the best
interests of the City of Pasco, NOW, THEREFORE
THE CITY COUNCIL OF THE CITY OF PASCO DO RESOLVE AS FOLLOWS:
1. The sum of $67,312.65 from the Permanent Street Construction and
Storm Sewer Construction Reserve Fund shall be utilized to purchase
L.I.D. 464 4% interest bearing warrants from Terry Thompson Co.
2. The sum of $26,050.56 from the Cumulative Reserve Fund for Perman-
ent Street Construction and Storm Sewer Construction shall be util-
ized to purchase L.I.D. #64 4% interest bearing warrants from
Terry Thompson Co.
3. The aforesaid warrants will be financed from monies obtained from
the sale of L.I.D. #64 bonds as soon as possible.
PASSED by the Mayor and APPROVED by the Council this 6th day of
January, 1959.
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Mayo r
Attest:
Adah M. Perry - City C
Appr ve s to f P,,La
Richard G. Patrick, City Attorney