HomeMy WebLinkAboutReso 1953-1407 RESOLUTION NO. 1407 t . pan '
RESOLUTION NO. 1h07
RESOLUTION OF THE CITX COUNCIL OF -THE
' CITY OF CHULA VISTA AUTHORIZING INVEST-
MENT OF SURPLUS FUNDS
Whereas the City Council of the City of Chula Vista
determines that there is surplus money in the treasury
of the City of Chula Vista not required for the immediate
necessities of the City; and
Whereas the said City Council deems it wise and ex-
pedient to invest up to $125,000.00 of the same in United
States Treasury Notes, Series A ;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
CHULA VISTA does hereby RESOLVE as follows:
That the Administrative Officer and the Finance Officer
of the City of Chula Vista are hereby authorized to invest
said surplus funds in the United States Treasury Notes,
Series A, in the amount of up to ONE HUNDRED, TWENTY-FIVE
THOUSAND ($125,000.00) DOLLARS.
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ADOPTED AND APPROVED by the CITY COUNCIL of the CITY OF
CHULA VISTA, CALIFORNIA, this 10th day of, February ,1953
by the following Vote, to-wit:
AYES: COUNCILMEN H9be1 Hialferty, Riesland , L
NAYS: COUNCILMEN Done
ABSENT: COUNOILLMEN Logan, DeWolfe
Taro" O e CI y o a s a
ATTEST: f.
yC er,
by
Deputy
STAVE 0P CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, KENNETH P. CAMPBELL , City Clerk of the
City of Chula Vista, California, DO HEREBY CERTIFY that the above
and foregoing is a full, true and correct copy of Resolution
No. 1497 , and that the sine has not been amended � F °
repealed.
DATED: February 10, 1953 sA ,.
City Clerk }
b
Deputy
Government Code, Section 53601:
Bonds, notes and warrants authorized for investment.
The legislative body of a local agency having money
in a sinking fund of, or surplus money in, its treasury
not required for the immediate necessities of the local
agency may invest such portion of the money as it deems
wise. or expedient in:
(a) Bonds issued by it including bonds payable
solely out of the revenues from a revenue-producing
property owned, controlled or operated by it or by a
department, board, agency or authority thereof.
(b) United States Treasury notes or bonds or
those for which the faith and credit of the United
States are pledged for the payment of principal and
interest.
( c) Treasury notes or bonds of this State or of
any local agency within this State including bonds pay-
able solely out of the revenues from a revenue-produc-
ing property owned, controlled, or operated by the State
or any local agency, or by a department, board, agency
or authority thereof.
(d) Registered state warrants.