Resolution 2407 - Invests Revenue Bond Reserve FundRESOLUTION NO. 2407
A RESOLM'10N INVESTING REVENUE BONI) RESERVE FUND
WHEREAS, a "Reserve Fund" has heretofore been created in confornity With
Resolution No. 2384, providing for the creation of such reserve. in the amount Of
$30,000.00, and providing further that such fund may be, invested in direct
obligations of the United States GovernmeTit, with a Maturity not to exceed eight
year, and
WHERFAS, it is to the best interests of the City of Kalispell that these fundS
be invested In interest bearing obligations of the United States Goven-mient;
NOW THEREFORE' 13E IT RESOLVED BY T11E CITY COUNCIL OF "ME CITY OF XALISPE11, MONTANA:
1. 111AT THE. MAYOR, 111E CITY TREASURER, AND 'ME CHAIRMAN (IF THE, FINANCE comirru,
be and they are hcreby authorized and directed to Invest the s= of $30,000.00 of
the "Reserve Fund of the Water-Sewf,�r RevenAle Bonds of 19591, in direct obligations
of the United States Covermnent, with maturities not exceeding eight years from
date.
2. ',niat thin Conriittee, comprising the above Officers of the City of Kalispell,
be authorized and directed to rent a Bank Safety Deposit box fo-r the safekeeping
of said securities purchased.
3. llvat said Safety Deposit Box be available to the above Cairnittee only upon the
sigiiavure of each member in their joint presence.
4. lbat the Mayo',r and Chairpan of the Finance Coianittee be bonded by Surety Bond
in the anio"nt of $10,000.00 each in faithful perfortnance of their duties as members
of said Cotmnittae.
PASSED AND APPROVED BY 111E CITY COUNCIL OF 113E CITY OF KALISPELL, MONTANAO
THIS 10th DAY OF AUGUST, 1959.
Haward V. Hammer
Mayor
ATTEST- 11. J� Hunt
City Clerk
am
1, the undersigned, City Clerk of the City of Kalispell hereby certify that the
foregoing is a true and correct copy of the Resolution duly passed by the City Council
of the City of Kalispell, Montana, at Its speoial meeting on August 10, 1959.
-of Kalispell, Montana
City Clerk of the