HomeMy WebLinkAbout571 RESOLUTION
~HEREAS, the City of Bremerton has invested a portion
of the cash on hand in its treasury in U. S. Government Bonds
as follows:
Cemetery ~8,000.00
General 62,000.00
Firemen's Pension 28,000.00
,~ater 125,000.00
Police pension 1,000.00
Retirement ~,000.00
City Street 10,000.00
1942 Water ~nd 10,000.00
LID G. uaranty 39~000.00
TOTAL ~,000.00
and,
WHER~S, the investment board of said eity did at a
meeting reg~arly called and !~eld on the third day of ~arch,
1947, recommend to the ¢tt~ Oo~cit that said Gover~ent Bonds
be sold and that bonds witt~ later maturities be purchased in
their ?lace instead;
NO. TMm~a~FOR~ ~E IT ~m;SOLVED by the City Council that said
imvestment board be ~d the s~e is hereby authorized and directed
to sell said securities of the par v~ue above stated and. more
particularly described in the schedule attached to the letter of
the City Auditor, an e?: officio secretary of the board, dated
March 4, 1947; and
BE IT ?U~THER R~SOLVED that said investment bo~d and the
s~e is hereby aut?mrized to purchase U. S. Government Bonds
bearing interest at the rate of 2~ per ~num and with later
maturities than those of the bonds so sold.
PASSED by the City Oouncil, signed by the Mayor and attested
by the City Clerk in authentication of such passage this 12th
day of ?,'larch, 1947.
ASTE~T. Mayor