HomeMy WebLinkAbout0489 ResolutionRESOLUTION NO. 489
A RESOLUTION AUTHORIZING THE CITY TREASURER TO INVEST CERTAIN MONIES
WHEREAS, there are monies in the General Obligation Bond Fund of 1947,
Water and Sewer Reserve Fund of 1957, Library Fund and Firemen's Relief and
Pension Fund available for investment, and
WHEREAS, the Finance Committee of the City of Pasco has recommended
investment of said monies, NOW THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO DO RESOLVE AS FOLLOWS:
Section 1. The sum of approximately $10,000.00 from the General Obliga-
tion Bond Fund of 1947 shall be invested by the City Treasurer in U. S. bonds
or certificates of indebtedness for a period of approximately six months.
Section 2. The sum of approximately $15,000.00 from the Water and
Sewer Reserve Fund of 1957 shall be invested by the City Treasurer in U. S.
bonds or certificates of indebtedness for a period of approximately 10 years.
Section 3. The sum of approximately $90,000.00 from the Library Fund
shall be invested by the City Treasurer in U. S. certificates of indebtedness
for a period of approximately 90 days.
Section 4. The sum of approximately $40,000.00 from the Firemen's
Relief and Pension Fund shall be invested by the City Treasurer in U.S. bonds
or certificates of indebtedness for a period of approximately 10 years,
subject to the approval of the Firemen's Relief and Pension Board.
Section 5. The City Treasurer may convert the aforesaid investments into
cash at the expiration of each investment period set for the above and deposit
said monies together with interest in the appropriate fund from which the
investment was made.
PASSED by the City Council and APPROVED by the Mayor this 15th day of
August, 1961.
1
ATTEST-
MAYOR
City Clerk
APRROV50 AS TO FOW: �/_.
City`Attorney