HomeMy WebLinkAboutO-0612 - Authorizes issuance of warrant (Special)O~~DINAHC£'NO.612
All!ORDIHAXCE OF '~HE CIl'Y me I'iA:tYSVILLE AU·rHOI:nZr.~·G
THE ISSU.ANC=:O~7 A ~'lARR!\NT FOR 'fEE PtH<POSE OF B03.RO.-rIl':G
FUIms FnOlI 'em -':!ATER DIs;rRIBUTION FmS::<.:HVE Fmm 'TO B!<':
PLACED IN THE ART;:O;~IAL STREET FUlm.
:HLSREJI..S,the Arterial Street Fund as been .dopletedto the
extent that it is on the verge of bein~overdrffi1n,and
\ffiE~EAS,the need exists to replenish this fW1d for the
purpose of making immedipte expenditures to pBy for obligations
incurred in the improvement on Grove Street,now therefore,
TH~CITY COUNCIL OF THE CITY OF MARYSVILLE DO ORDAI~ftS F01LO~S:
Section 1.That the City Treasurer is hereby authorized to
dr-aw a warrant in the sum of i>20 ,000 .00 on the 'hater Df.a t r-Lbut.Lon
Reserve Fund which sum is to be credited to the Arterial Street 7und.
Section 2.'I'hat the warrant,authorized by Section 1 of this
ordinAnce,shall be redeemed by a withdrawal of funds from the
Arteriel Street Fund when there are sufficient funas on hand to
redeem it,and between the date of issuan<:e and redemption it sh8l1
bear interest at the rate of five and one-he.lf per cent (5-1,(2%)per
annum ,
Section 3.That this ordinance shall take effect and be in
force from and after its passage,epprov81,end five days followine;
its publication as required by law.
PASSED by the City Council of the City of l'iorysville,this
8th day of January,1968.
THE CI~Y OF HA~YSVILLE
.'..TTEsrl':
City Clerke>