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Resolution 330 RESOLUTION NO.iiO RESOLUTION OF THE COrvrl'vTON COUNCIL OF THE CITY OF GILROY ESTABLISHING A FUND DESIGNATED ASNWATER LINE REPLACEMENT FUNDtt ,AND DESIGNA.TING MONEYS TO BE PLACED THEREIN. WHEREAS, the City of Gilroy is the owners of a pipeline extending from a dam belonging to the said City located on the Uvas Creek to the Res- ervoir of the City of Gilroy,and it is also the ownerEot':anoth~r,pipe"", rine frem said reservoir to the said City of Gilroy;and WBEREAS,the said pipeline is in need of repair and will in the comparatively near future require replacement of major portions if not , all thereof; and WHEREAS, the cost of such repairs and r eplaceffient will be more than can or should be taken from the city treasury at one time, and the Common Council deems it tb the best interests of the City of Gilroy that a fund be established and built up to a point where there will be sufficient money therein to~e care of said repair and replacement and believes that the proper source of money for such fund would be the proceeds of the sales of water by the City of Gilroy,and that 20% of such water sales should be annually placed in thE fund. NUN ,THEREFORE, BE IT RESOLVED: That there is hereby established and set up a fund to be known as the I'tWATER LINE REPLACEMENT FUNDt!, and that 20% of the total proceeds of the water sales be placed in the said fund annually,to be used for the purpose of repairing,replacing and maintaining the said pipelines,and that such moneys be continued to be placed in the f'und until it is large enough to permit the entire replacement of the pipeline. ADOPTED and PASSED this 9th day, of' August,1954,by the following vote: .AYE S : NOES: ABSENT: Councilmen Pate,Gallo,Kennedy,Rush,Petersen,Sanchez Councilmen None Councilmen None ~vt;U~ /( / tt\. R Attest: . <]. G..-~ City Cler