HomeMy WebLinkAboutR-0565 - That there shall be established a fund denominated "Escrow Bond Retirement Fund"~---------.-----------------------------------
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PH1L G.WARNOCK
LAWYER
206.207 COL.BY
SLOG.
MAIN 431
EVERETT,WASH.
~
RESOLUTION NO •..sC;S
Be it resolved by the Town Council of the Town of Marysville,
as follows:
That WHEREAS there is on hand in cash,the property of the
Town of Marysville,in the Marysville State Bank,Marysville,
Washington in eXisti~Water Revenue Funds more than nine thousand
dollars in cash being more than the total balance due on the
existing issue of water revenue bonds,and
WHEREAS three thousand dollars of amount given above will
be ?aid and the equivalent in aforesaid bonds retired on the 1st
day of July,1939,leaving a balance of only $6000.00 in Water
Revenue bonds,and
WHEREAS it is desired to allocate and set aside the said
.i-""£I1,,r T",.......,...,/i,ry
sum~f $9000.00Afor the purpose only of redeeming the balance of
the present issue of Water Revenue bonds when due;to the end
that a contemplated new issue of Water Revenue bonds and the
purchasers thereof will have the unincumbered revenues of the
Water System as security,and now therefore it is
Resolved that there shall be established a fund denominated
"Escrow Bond Retirement Fund"into which shall be deposited
sufficient existing water revenue funds estimated at $9000.00
to there remain and to be used only for the purpose of retiring
;-1".T1i"l1on T'
the existing Water Revenue Bonds~when same mature.
That an authenticated cooy of this resolution will be
sufficient authority to the Towh Treasurer and Cashier of said
bank to make the allocation as aforesaid.
~(J2~
MAY 0 R
Attest:
JiT:P~
CLEp
Passed A~!il .~,1939.
/'1"'i'IS,