HomeMy WebLinkAbout0447 ResolutionRESOLUTION NO. 447
A RESOLUTION AUTHORIZING THE INVESTMENT OF FUNDS
IN EXCESS OF CURRENT NEEDS IN UNITED STATES BONDS
AND NOTES.
THE CITY COUNCIL OF THE CITY OF PASCO DO RESOLVE AS FOLLOWS:
Section 1. The City Treasurer shall invest the following funds in excess of
current needs as. -follows:
(1) $56, 000 from the Water Sewer Bond Reserve Fund of 1954 in United
States Bonds, ten-year maturity.
(2) $10, OOO.from the Water Sewer Bond Reserve Fund of 1957 in United
States Notes, 90 -day maturity.
(3) $10, 000 from the General Obligation Bond Fund of 1947 in United
States Notes, 90 -day maturity.
Section 2. The aforesaid securities maybe converted into cash on maturity
by the City Treasurer without further resolution.
Section 3. The aforesaid investment has been approved by the City Finance
Committee on August 10, 1959.
PASSED by the City Council and APPROVED by the Mayor this 18t h day of
August 1959.
ATTEST:
City -Clerk
AP T FO
City Attorney
i
Mayor