HomeMy WebLinkAboutRESO 1485•
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RESO:i .. U".l~ION AUTHORIZING CITY TREASURER TO DISPOSE OF SECURITIES AND A~~UIRE Nl!."W SECURITIES
ilHJl:REAS, The City of Palo Alto now holds $150,00C.OO
face value of u. S. Treasury 7/8% Certificates or Indebtedness, Series A of 1946, due February 1, 1946; and,
lai.EREAS, upon payment by the United 3tatee Government
of the face value of said cel."t1f1cates the City Treasurer will
have in his possese1on $150, 000. 00 cs.sh which should .. be
invested 1n other securities; and,
WHEREAS, 1t is customary for the u. s. Trea~ury to offer new securities in exchange f'or those coming due;
NOW, THEREF'ORE, the CC'uncil of the City of Palo Alto DO RESOLVE as follows:
'l'hat W. C. Cobb, City Treasurer, be and he 1s hereby autho~ized to deliver for redemption by the U. s. Treaeury,
$150,000.00 face value o.f' u. s. Treasury Cert11"1cates of
Indebtedness, Series .A of 1946, <lue February l, 1946, and to
re-invest sald fun<.1s so received by hi.'11 in cert1t'ioa.tes of a s11~1la.r class issued by the U. S. Treasury Depe.rtmen.t to take the place of those redeemed.
The above and foregoing resolution was duly and regularly
introduced and passed by the Council of the City of Palo Alto
at a regular meeting held on Monday, the 14th day of January, 1946, by the folloving vote:
A'YES:
NOES:
Bentrott, Blois, Bolander, Bowden, Cashel, Linder,
Merner, Mirchell, Morten, Richardo, Southwood, Thotts,. Thomas.
None.
ABSENT: Cornish, F't•eedman.
/. ,,,., r/~ ATTEST: k(f,,,;..,~:teer<
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