HomeMy WebLinkAbout1590 ORDINANCE NO. 1590
AN ORDINANCE establishing a cumulative reserve fund for water system
improvements, specifying the purposes for which moneys from said fund may be
expended, and transferring ~125,000.00 in U. S. Treasury Bonds to said reserve
fund from the Water Fund.
THE CITY OF BBED~ERTON DOES ORDAIN:'
Section:l. The Ci%y Treasurer is hereby authorized and directed to establish
a c~ulatiV, e reserve .fund(for water system improvements as of January 1, 1945.
Section ~. Moneys may be expended from said c~ulative reserve f~d ~der
the direct[on of the City Council of the City of Bremerton for general improvement~
and betterments to the water system, including the development and drilling of
new wells and the development of other so~ces of water supply, the construction,
repair and improvement of reservoirs, pipe lines, stand pipes ~d mains for the
supply and distribution of water and the construction, repair and improvement of
structures to be used in connection with the water system of the City of Bremerton.
Section 3. The City Treasurer is hereby directed to transfer to said
c~ulative reserve f~d for water system improvemez~ts U. S. Treasury Bonds of the
value of $125, 000. 00 now held as investments in the Water f~, and said sum of
$125,000.00 is hereby appropriated to the uses of said cmu~ rive reserve f~d
for water system improvements.
APPROVED on first reading this 2~nd ~ay ~f November, 1~ 4.
PASSED on final reading this 29th day of November, 1944.
Attest: ~tateofWash~n~on~ s. ~ ~~Mayor ~~
~ou~y of Kit~.sp - S. '
City of B[emarton
I, the u~dg~d, d~ IiPre by certify thai
the above and to:aF, ~ ~s a hue and rorrect ,
.... Copy o[ Ordm~:u r~,~ /.~.~.of lhe City of
Bremerton e~ t;~,l ~s ~-,~ve am_l Iha[ Ih8
~me has been puDi,sh~d accg~in~ lo law.
City Clerk