HomeMy WebLinkAboutRESO 1226-¥. • q. \ • '
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.h~§..Q.~!!.!!.Q.!i N 0. 1226
RESOLU'UON ATJ'l'HORIZ!NO STANFORD UNIVEP..SITY TO RETAIN CERTAIN
l'HOFITS FROM ·rHE OP!-~RA'riON OF THE nOSPITAL AS A WORKI~G FUND.
W'rlEHEAS, the agreement by and between. the City of
Palo Alto flnd the Board of Trustees of the Leland Stanford
Junior Bn1ve:rsi ty, dated July l, 1921. and eupplemfmted Febru-
ary 2, 1931, provide%! in paragrttph .four that the board as the
operator of the Palo Alto !iosp.t tal shall turn over to the city
each yenr all profits after the deduet1on of operating expenses;
e.nd,
111'h"EREAS. said p9.ragro.ph provides that the b()ard. may
retAin a~ a working f1md & sum to be agreed upon by the psrt1ee
to th~ agreement; and,
217
WHEP.EASf the said board, tr!.roug.'l-). F.. s. Erw1:1, Aeeiet-
ant Comptroller o:f the Le:Ls.nd Stanford Junior University has
requeeted.th.at the sum of Twenty-five Thousand Dollars ($25,000.00)
be set up and retained by the board a..e a working fund;
NOW, THEF;Ef'ORE, the Council of the City of Palo Alto DO RESOLVE a~ follows:
That the Board of Trustaea of the Leland Stanford
Junior University be and they ~re hereby authorizoo to rr.R1n-
tain. a working fund out of the profits from the operation of
the P:<l.lo Alto Hoepital in the sum of Twenty-five Thousand Dollars
($25,000.00) to be used a5 an operating fund to meet current
obligations, for the replace1nent of equlpment, purchase of new
eq1<1pment and for such other extraordinary expenses ae may arise
f;,"om time to time, excluding the coostruct1an of new buildings
or additions to the present building f~cil1t1es.
The above and foregoing resolution was duly and regu-
larly 1ntl"Oduced and passed at a regular meeting of the Couneil
of the City cf Pe.lo Alto i.1eld on N;t.)nday, th(l lOth cay of October, 1~38, by the following vote:
AYES:
NOES:
ABSEN'.1':
Bonham, Cashel, C Dllins J Goddard 1 ~.:rs. Uerner,
Mitchell, N.osher, Rlchs.rcls, Salsman, Tho its, "vVood.
Cypher.
Blois, Costello, Thoma5. ~
APPR OVF:D: A , -,r__~ • "'Y>'--2·"'
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