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HomeMy WebLinkAbout1240 . RESOLUTION NO. 1240. A RESOLUTION OF THE CITY OF ARCADIA AUTHORIZING AND DIRECT- ING THAT CERTAIN FUNDS OF THE CITY OF ARCADIA BE INVESTED IN OBLIG/iTIONS 01' THE UNITED S'l'ATES. THE CITY COUNCIL OF THE CITY OF ARCADIA DO;;;3 RESOLVE AS FOLLO\7S: SECTION l. WHEREAS, the City of Arcadia, a municipal corporation, has surplus money in the treasury of said City in excess of Twenty Five Thousand (~25,OOO) Dollars, by reason of the depreciation reserve fund of the Water Department of said City of Arcadia, and WHEREAS, this Council deems it expedient that a portion of said funds be invested in obligations of the United States, NOW, THLREFORE, BE IT RESOLVED, that the City of Arcadia, a municipal corporation, invest Twenty Five Thousand ($25,000) Dollars in Certificates of Indebtedness, Series B-1944, of the United States, and that said Certificates of Indebtedness be purchased in the following denominations: I Three (3) Certificates of Five Thousand ($5,000) Dollars each, Ten (10) Certificabes of One Thousand ($1,000) Dollars each. BE IT FURTHER RESOLVED, that said sum of Twenty Five Thousand ($25,000) Dollars be invested from the Depreciation Reserve Fund of the Water Department of said City and that upon the redemption of said Certificates of Indebtedness the funds received from said redemption be reallo~ated to said Depreciation Reserve fund of the Water Department of said City. SECTION 2. The City Clerk shall certify to the adoption of this Resolution. I hereby certify that the foregoing Resolution was adopted at a X-8RUlar ~eeting of the City Council of the City of Arcadia, held on the~~ay of April, 1943, by the affirmative vote of at least three Councilmen, to-wit: AYES: COtUlcilmen Adcock, NOES: None ABSENT: None Signed and approved tllnis2~ay of Jones, Leeper, Nugent and Ormsby h~~ April , 1943. ATTEST: ~_~":Jt ~ City Cler~ l/J--~~ ayor