HomeMy WebLinkAboutRES NO 07A-51RES~LUTION NO 7A-51
WHEREAS, on the 8th day of January, 1951, the Council of
the City of Bakersfield passed and adopted a resolution authoriz-
ing and directing the investment of $500,000.00 of the money
realized from the sale of general obligation bonds heretofore author-
ized for the construction of a sewage treatment plant and outfall
main sewer leading thereto, in United States Treasury Bonds, paying
interest at two and one-half percent (2 1/2%) per annum, and
WHEREAS, none of said money has yet been so invested, and
upon further consideration it appears that such an investment
would not be in the public interest, inasmuch as said bonds would
be subject to a fluctuating market.
NOW, THEREFORE, BE IT RESOLVED, that the aforesaid reso-
lution passed and adopted on Jsnuary 8, 1951, and the authority
contained therein, be and the same are hereby rescinded.
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I HEREBY CERTIFY that the foregoing Resolution was passed
and adopted by the Council of the City of Bakersfield at a regular
m.neeting thereof held on the 22nd ds~ of January, 1951, by the fol-
lowing vote:
AYES: CAR~AKIS, th~O~,KUEHN, MORELOG~,
Clerk of the
Council of the City of Bakersfield,
_ ~ -
Bakersfield.