HomeMy WebLinkAbout0502 ResolutionRESOLUTION N.O.'
A RESOLUTION AUTHORIZING THE CITY TREASURER TO INVEST
CERTAIN MONIES.
WHEREAS, there are monies in the following funds
available`for investment: Arterial Street Fund and Library Construction
and Acquisition Fund, and
WHEREAS, the Finance Committee of the City •of Pasco
has recommended investment of said monies, and
WHEREAS, said investments are for the best interests
of .the' City -of Pasc-o; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO DO RESOLVE
AS FOLLOWS:
Section 1. The sum of approximately $20, 000 from the
Arterial Street Fund shall be invested by the City Treasurer in 90 -day
United State s Certificates of Indebtedness.
Section 2. The sum of approximately $40, 000 from the,
Library Construction. and Acquisition Fund shall be invested by the City
Treasurer in 90 -day United States Certificates of Indebtedness.
(�c�( Section 3. In the event the money is•not•needed, the City
Treasurer shal • ve the authority tore -invest said mo or any.part
-thereof, in 90 -day United States Certificate Indebtedness at the end of
r �f each 90 -day period. The pur of this' provision is to keep said monies
continually. inv for the benefit ,of the particular` fund involved without
f er action of the Finance Committee and City Council .being necessary.
PASSED by the City Council and APPROVED by the Maybr�
this 6th dayof March, 196"2, \3
ATTEST:
• City Clerk',
Apprp ed as to fo rr
City Attorney.
AYOR