HomeMy WebLinkAboutRESO 391l .JN IZ
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B ~ .§. .Q 1:. Y: ! l .Q !! IJO. 391.
Pl\Q.YIDll~ G iOR THE DEl?O§l T OF 1:0NEY IN
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The Council of the City of Palo Alto
do resolve as follows:
The City Treasurer of the City of
Palo Alto is hereby authorized to deposit
with any Bdnk or Banke of this State
authorized to receive euoh depoaite, upon
said depoeitor.r bank g1v1:tl5 the neoeea1U7
security. as provided by law, any and all
surplus :f.unda in ~xceeE ot thirtf~eight
thoue8Xld seven hundred dollars (f38,700.00),
·oeir1g the maximum amount that can legall7 be
deposited with the Bank of Palo Alto on the
securities deposited by sa1d bani:, at a
minimum rate of two per cent on call funds,
and a minimum rate of three per cent where
thirty days notice is to be given.
It is further stipulated that thie
a11thoriza.tion ehall be in force until re-
voked or changed by the Council of the City
ot .Palo Al to.
The above and :foregoing reaoli.1 t ion
was duly passed on the 12th day of January,
1925, by the following vote:
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AT.i.S:
Bertsche,Blair~Cathcart,Cooley,Cottrell.
:.Ouveueck.~asterday,iiobart,Jordan,
Lauaten, Thoi ts, Will iame, Wing.
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" •~one.
1.i.endenhol 1 •
111
\ , ;~ '4' / ·/ .. Approved; / ·'~;.J.~r ~><22£~ · /' it I ,, , .iae.,:ror // {_,
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Attest· Y ') ; · -i. ' -; 4 , ,. ,.y:,jj,v""' .{,,.-·:;/ t-~. ·i:)
e,puty Clerk
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