HomeMy WebLinkAboutResolutions - No. 1162RESOLUTION NO. 1162
DIRECTING THE WOESINIENT CF CITY FUNDS
NOT IMMEDIATELY REUIRED IN U. S.
GOVERNMENT BCM'S
WHEREAS, the immediate needs of the United States for
funds to proeecute the war with the axis counties makes it
imperative that every dollar not now needed for essential purposes
be placed in channels where it will be available to assist in
bringing this war to a rapid and successful conclusion, and,
WHEREAS, the City of Lodi has certain moneys not now
required to carry on necessary functions of government and, which,
under existing war -time restrictions could not be expended in
public works and improvements, and,
WHEREAS, after the end of this war, many facilities how
neglected will have to be replaced and repaired and new works
will have to be constructed that w i 11 embody new discoveries and
improved methods as well as give employment to the thousands of
persons returned to normal occupations, for all of which immediate
expenditures should be restricted so as to provide the funds
therefore, therefore,
BE IT RESOLVED, that the City Treasurer be, and he is
hereby authorized and directed to Invest the sum of ONE HUNDRED
2'VvETX THOUSAND DOLLARS ,(4120,000.00) in obligations of the
United Mates of America, viz:
The sum of $100,000.00 and accrued interest in United
States of America 21 Treasury Bonds of 196L.-1969,
dated April 15, 19
The sum of $20,000.00 and accrued interest in United
States of America 7/82 Treasury Certificates of In-
debetedness of Series B - 19)j)j.
All of said bonds and said certificates shall be
purchased in such denominations as said Treasurer deems best
suited to the City's needs.
0
Certified to be e full, true and correct copy of
Resolution No. 1162 of the City Council of the
City of Lodi as passed and adopted in regular
meeting of said City Council held April 21, 19113
by the following vote:
AYES: Councilmen, Weihe, Cofr'ield, Kiggs, Spooner
and Hinn
NOES: Councilmen, None
ABSENT : Councilmen, None
(Signed) J. F. BLAKELY
City Clerk