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HomeMy WebLinkAbout2906 \..4-. "-0 RESOLUTION NO. 2906 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, AUTHORIZING AND DIRECTING INVESTMENT OF AVAILABLE ~UNDS AND RESCINDING RESOLUTION NO. 2847. ~~ ~ ((y7"1 THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES DETERMINE AND RESOLVE AS FOLLOWS:' SECTION 1. ,That there'are from tim~ to time on hand in the city treasury, not required for: the immeaiate necessities of the City of Arcadia,funds in excess of $7~O,OOO.00. That the short term investment of such funds would increase the interest revenue of the City of Arcadia.' SECTION 2. That purusant to Title 5, Division 2, Part 1, Chapter 4, Article 1, of the California Government Code, the Con- troller, Treasur'er and City Manager be and they are hereby author- ized to invest ~p to $750,000.00 of such surplus in any of the fol- lowing, to wit: United States Treasury bills, United States Treasury notes and United States Treasury anticipation notes. SECTION 3. That Resolution No. 2847 entitled "A RESOLU- TIONOF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, AUTHOR- IZING AND DIRECTING INVESTMENT OF AVAILABLE FUNDS AND RESCINDING RESOLUTION NO. 2763" adopted January 2, 1957, be and the same is hereby rescinded. SECTION 4. The City Clerk shall certify to the adoption of this Resolution. I HEREBY CERTIFY that the foregoing Resolution was adopted at a regular meeting of the City Council of the City of Arcadia held on the 2nd day of July , 1957, by the affirmative vote of at least three Couneilmen, to wit: AYES: NOES: ABSENT: Councilmen Jacobi, Phillips, Reibold and,Dennis (SEAL) None Councilman <;;m0ouse 7) ~/. ' _." / ~~n~ft6i<~ of July ,1957. a . ;p.. .......... ....\..>' > SIGNED AND APPROVED ~~J~ City Clerk , ' 2906 , '. .