HomeMy WebLinkAboutRES NO 01A-51 RESOLUTION NO. 1A-51
RESOLUTION ~AUTHORIZING THE I~EST~NT
OF SE~ER BOND ~0NEY IN U. S. TREASURY BONDS.
~%7HEREAS, at a special election held in.the City of Bakersfield
on June' 6, 1950, the incurring' of a'.bonded indebtedness in the amount
of $1,200,O00.O0'.for the construction of a sewage treatment plant.
and outfall main sewer leading thereto, was approved, and'
,~HEREAS,~ pursuant to such approval,.'suCh bonded indebtedness
has been.incurred and plans for ~onstructi6n of the aforesaid im-
provement are proceeding, and
~' WHEREAS, there is in ~he bond 'sinking fund the sum of $500,000.00
not immediately required for such'constrUCtion, and
WHEREAS, this Co~cil desires'to.investSuch money pursuant
to the authority contained in.Title 5,.Division 2,-Part l, Chapter
Article'l'of the Government Code of the State'of California.
NOW, THEREFORE, BE IT RESOLVED .thht the Treasurerof~ the City
of Bakersfield is hereby authorized and directed~to invest-$500,000.00
of the aforesaid money now inlthebond· sinking fund, in United States
~Treasury Bonds. maturing in 1972, and paying interest at the rate of
two and. one-half percent (2 1/2.%)per~annum.
BE IT t~URTER RESOLVED that the+Treasurer is..further authorized
and directed to sell said United States Treasury Bonds'·when and as
the proceeds are required for construction. of the aforesaid sewage
pla·nt and main outfall sewer.
I HEREBY CERTIFY that the foregoing Resolution was passed
and adopted by .the Council of the City of Bakersfield at 'a regular
meeting thereof held on the 8th day' of'.JanUary, 19~l, by the
following vote:
City Clerk and ~i~f~icio Clerk of the
Council .of the City of' Bakersfield.
!/
ROVED this 8th day of JanuarY ,. ;i951'.