HomeMy WebLinkAboutRESO 1398•
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R E ~ 0 L D T I C N N 0 • ----------1 '7,90 ~
!\ESOLUTION AUTHOHIZING THE CITY TREASURER TC
::z::.:.. AND Pv"RCRASE CE.."q,TAI1i SECURITIES FOR THE
C:ITY CF P.U.O AI.JJ'O
Th10 Ccm1~il cf' the City of Pnl0 Aj to DO ~ESOLVE as follow~:
Thnt ~. C. Cobb, C1t~ Treasurer, be and !le 1R
hereby ~uthori~ed to soll tho following described secur1ti~s
w~:c~ nre now held by the city 1n it~ portfolio, to vit:
( <'· 1 . ' , T,:. S. D"!fense N'te~ benr:tn,.. 3/4 of 1~~·
1ntert'>st. !''.H' Rn..."'tum, due 1944. in the
t otr\1 sum. or $39,000.00.
(b) 0. S. D·~fontJe Notes bee.r1n~ 3/lt of 1;'6
:!.nt1.:;rest por annum, due 19·'6, in the
tot.n.l S'J.l'n of *h?,OOO.OO.
The cbovc sales to be ~t the prov~illng market
p~icc QS of th0 dnte of ssle.
3E XT FURTHER RESOLVED, thnt O'..:t of thr.:-fund e rea.l~z.cd from srt!.d :3e.les the City TreP.SUl'P.r is authorJ <:ed ~md
dJrected to purchase the followtnc securities for the account
of the City of Palo Alto:
{a)
(b)
{c)
U. s. Treasury Bonds bearing 1.75~~ interest,
due 1948, in thf! total sum of $38,000.00.
U. 3. Treasury Bond~~ of 196:?·-68 bee.rine
2!;:\, :tntere3t in a tot13.l sum or :iso,coo.oo.
U. s. Treanury Bonds of 1963-68, beAring 2~;:, il'ltere~t in the sum of $5,000. 00;
whJch latter :n:;..m sh£1.11 be ta.~:en from the Dlxo.n F1.md .f1.nd the
bends pu1~chased ":W1 th ~aid money to be held 1n said fund. All
of the above bonds tu•e to be purchased a.t the mllrket :::)]·•ice
prevCl.1ling on the d.e.te of pu!'ch.ase, plus accrued interest.
Thf.:l qbove s,nd foregoing resolution wa.:-. duly and
regularly ~.ntl~oduc~.:·d ~:tnd pl.\sEted at a regul.a1• meeting or the
C0uncil of the City of PPlo Alto, held on the 14th day of
December, 1942 1 by the tolloving vote:
AYES:
NOES:
ABSEN.r:
Bentr·ott, Blo1.si Cash.e!, Cornish 1 Cypher, Hoy 1 l\!e:'ner 1 Hit chel , Hoz•t en" Reed 1 SouthvooCJ,
Thoit:s, Wood.
None.
Rich.urd~ .• Thomas.
~~ ATTEST: ~~r~ ' .rf-
451
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