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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