Resolution 337
".
RESOLUTION NO.337
RESOLUTION OF THE COhilMON COUNCIL OF THE CITY OF GILROY PLACING
U.S. SERIES tltG1t BONDS OF THE MATURITY VALUE OF $33,000. NON UN-
ASSIGNED IN THE<<WATER LINE REPLACEMENT FUND".
r' ,
WHEREAS, the Common Council of the City of' Gilroy has heretofore
by Resolution established and set up a fund to be known as "WATER
LINE REPLACEMEII.J"'T FUND't into which 20% of total pl10ceeds of water
sales shall be placed annually to be used for the purpose of
repairing,replacing and maintaining water pipe line of said City;
and,
WHEREAS, the City of Gilroy does now possess and own U.S.Series
ftGtt Bonds of the maturity value of $33 ,000.00 heretofore purchased
with money accumulated from the water department of the City of
Gilroy and it is desirable that the said bonds be earmarked and
placed in the said lIWATER LINES REPLACEl\1EI'J"T FUND.tt
NON,THEREFORE,BE IT RESOLVED:
That said Series "G" bonds of the maturity value of Thirty-Three
Thousand ($33,000.00) Dollars purchasedas aforesaid be, and the
SarIle are hereby,earmarked as belonging to and placed in the said
'lWATER LINES REPLACEMENT FUND1l to be used in acc or dance with and
for the purposes set forth in the said Resolution hereinbefore
referred to establishing the said fund.
PASSED and ADOPTED this 4th day of October,1954, by the following
vote:
AYES:
NOES:
ABSENT:
Councilmen Pate,Rush~P~~erse~,Sanchez,
Councilman Kennedy
Councilman Gallo
4-/ l/l~7
Mayo
Atte~
\:).Q.,~
Ci tyCJ,.~rJ{