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R E S 0 L U T I 0 N ----------N 0 • 20~~
RESOLUTION AUTHORIZING THE SALE OF $100,000.00
PAR VALUE UNITED STATES TREASURY CERTIFICATES OF
INDEBTEDNESS AND THE PURCHASE OF $100,0CO.OO PAR VALUE UNITED STATES TREASURY NOTES.
The Council of the City of Palo Alto DOES RESOLVE as follows:
That W. C. Cobb, Treasurer of the C1ty of Palo Alto,
be &nd he 1a hereby authorized and directed to sell $100,000.00
par value United States Treasury Certificates of Intebtedness,
bearing int~rest at 1 1/8%, due October 1, 1950, at par plus accrued in-
terest, and out of the proceeds of said sale he ls hereby directed
to ~urchase $100,000.00 Un1te1 States Treasury Notes bearing in-
terest at l 1/4~. due August 1, l951, at 99"9349476, plus accrued interest.
The above and foregoing resolution waa duly and
regularly introduced and passed by the Council or the City
of Palo Alto at a regular meeting held on Monday, the 11th
day of September, 1950, by the following vote:
AYES: Blois, Bolanc'er, Bowden, Bower, Cashel, Cathcart,
Freedman, Gaspar, H:lll, Linder, Montrouil, Morten, Wickett.
NOES: None.
ABSENT: Bentrott, Mitchell.
APPROVED: d&rn ii:lc~......._.,_.
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