HomeMy WebLinkAboutResolutions - No. 576PiSCI TION NO; 576.
A RESQL1i'I'To ESTABLIatilei .A BOND RETIREMENT FUUD
ALT APPROPRI,,TI1& liOiNEY3GE1BRAL ISD
FOR i. , RIRAXES THERM'.
AS this City Council oe the City of Lodi, has
hitherto authorised the City Treeaurer to =chase out
of General i mo of t Cityof Loi, intern. , 4
bearing obli ...tions• of theiCityy at such thouu would
make tneir acgi.Hitso. desireablc ;
it AS, for the purpose of a i for the
moneys so spent and also to allow for the • •: ' of
slab. iir ereat beari oblistionn in the a, rrs : a., such
tis as 7sould be fa ora is on -account of the bauc�a:arket
affectis6 :a�. cipa1 eeaxritice it is convenient
the amount of to be devoted to this a be
limited and defined by the establishment ofa sppecial
fund therefore ;
•
IT R SOLVED, that there be end then is hereby
established a special fund f the of
b�by this City of -any of the 1 rent�� l ions •
the City. namely boali„a in 1908. IIE1 end 1923.
s fthere iund to obey led Special Purcthe hase 'kW fund. �
son of Forty-five ` �hcsssaa 13.s
2sid into e said fund ani to be used fob gxr2a es
narefa set fob ;
1.7 IT ?30alma that +.hales of the mai
interest bearing obligations hitrto a by the Cityobligations
Treasurer be hereby approved. and he is here authorised
and directed to purchase outstandi' bends of the City of •
Lodi at such times esmy . in his bebit
. be
faro aa
le for the acquisition thereofmx to exceed
the 't of Forty-ffve Thousand Tte moneys
paid oaf Els mamas are hereby a legitimate
against theee�� Ser est hs f end tll be heme:eys received
on T� f, to be tra:baferred the General. 3��p
as
City at such tines an the City Canaan tea® hereafter
direct. This fund is established for the purposes of
conveniently accounting for the moneys , = . to the
dseg of a sinking fund. for bond. ret A,r and ENT
iscontinued and merged with tins mays in the
General'F'uv4 of the City at the direction of the City
Council.
0
This resolution certified to have been regularly
introduced, paws& and adapted by the Cit Council
of the City of•Lodi atameeting hereof
on Monday. March 18t . 19 9 by the folleeirg
ins: councilman. Shattuck, Roach, ieihe
and Spooner (Mayor)
NOES: NON& ': VIUML Councilman Hale.