HomeMy WebLinkAboutRESO 1173•
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R E S 0 L U T I 0 B J 0 • 117~ .-......, ____ ..., __ ,... -.... --........
RESOLUTION AUTHORIZIII CITY TRB&SUR!R TO INVEST METER
DF.:POSIT FUNDS.
Whereas, the sum of Twenty-1'1v• Tbouaand Dollara ( t2&,ooo.oo) 1s now on dt~poai t in the meter d.epoa1t fund or t}'-• City or PMlo AltoJ and
Whereas, 1t 18 for tbe beat f1nanotal 1nteresta or
aaid city that aa1d funds be invested 1n aound aecur1t1ea which
will return !Ome income to tho City of Palo AltoJ
Now, therefore, tho Council of tbe City of Palo Alto DO RESOLVE as !o110w8a
That w. c. COBB, City !reaaurer, be and he ia hereby
authorized to invest the sum of Twenty-five Thouaand DollarD
($25,000.00) now in the meter deposit fUnd in United Statce Home
Ownere Loan Corporation Bonds, bearing 2-1/t% interest, paya.bl.•
July 1, 1944, and callable July 1, 1942J aa1d bonde to be held by
said City Treaau~e~ in the meter deposit tund in lieu of cash.
The above and .foregoing resolution was duly and regu-larly introduced and pasaed at an adjourned regul~r meeting ot
the Council of the City of Palo Alto held on Monday, the 25th da7 of October, 1937, by the following votes
AYESa ·Blois, B~nham, Cashel, Collins, Costello, Cypher,
Goddard, Mrs. Merner, Mitchell, ~osher, Richards, Salsman~ Thoits, Thoma5, Wpode
NOESa None.
ABSENTt None.
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~'~·~ APPROVEDs ayor.
~~.-ATTESTt U~.
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