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HomeMy WebLinkAbout3279 ~ RESOLUTION NO. 3279 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, AUTHORIZING AND DIRECTING INVESTMENT OF AVAILABLE FUNDS AND RESCINDING RESOLUTION NO. 2906. THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES DETERMINE AND RESOLVE AS FOLLOWS: SECTION 1. That there are from time to time on hand in the city treasury, not required for the immediate necessities of the City of Arcadia, funds in excess of One million five hundred thousand dollars ($1,500,000.00). That the short term investment of such funds would increase the interest revenue of the City of Arcadia. SECTION 2. That pursuant to Title 5, Division 2, Part 1, Chapter 4, Article 1, of the California Government Code, the Controller, Treasurer and City Manager be and they are hereby authorized to invest up to One million five hundred thousand dollars ($1,500,000.00) of such surplus in any of the following, to wit: United States Treasury bills, United States Treasury notes and United States Treasury anticipation notes. SECTION 3. That Resolution No. 2906 entitled "A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, AUTHORIZING AND DIRECTING INVESTMENT OF AVAILABLE FUNDS AND RESCINDING RESOLUTION NO. 2847", adopted July 2, 1957, be and the same is hereby rescinded.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 19th day of July, 1960, by the affirmative vote of at least three councilmen, to wit: -1- 3279 ..... AYES: Councilmen Balser, Butterworth, Phillips, Reibold and Carnphouse NOES: None ABSENT: None ~~jJu;;fr/}<~J ~ ~~ City Clerk 0 he fty of Arcadia SIGNED AND APPROVED this 19th day of -:-~ \,:~:.... ''";.r:-:.......~ ~.....~ ~..-: r;/~...:.o;. ',; .LP~/~ ity Clerk .'-:::: -, ATTEST':- , ~ ~,-- - ., ..... ~ "~ (SEAL) /' . -~'\y " -2- 3279