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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NO. 2847", adopted July 2, 1957, be and the same is hereby rescinded.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:
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AYES: Councilmen Balser, Butterworth, Phillips, Reibold
and Carnphouse
NOES: None
ABSENT: None
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City Clerk 0 he fty of Arcadia
SIGNED AND APPROVED this 19th day of
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ity Clerk .'-::::
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3279