Resolution 2887 - Establish Revenue Sharing FundRESOLUTION NO. 2887
A RESOLUTION TO ESTA13LISTI A REVENUE SHARING FUND IN WJJICH TJILL BE
DEPOSITED REVENUE SHARING MONIES RECEIVED FROM THE UNITED STATES
GovrPlIMENT; AND AUTHORIZING THE CITY TREASURER TO DEPOSIT SAID
1,10NIES AT FAVORABLE RATES OF INTEREST ACCORDING TO LATI.
T,KIEREAS, the City of Kalispell is in receipt of and will in
the future receive monies from the United States Government under
existing "Revenue Sharing" federal legislation; and
WHER-EAS, the Council desires to establish a specific fund in
which said monies shall be retained by the city treasury until
their use has been determined by the City Council; and
TIHEREAS, the Council desires that said funds be deposited
in financial institutions at interest rates favorable to the
City in accord with the laws of the State of Montana;
NOW THEREFORE, BE IT RESOLVED:
1. The City Treasurer shall forthwith establish a "Revenue
Sharing rund Account" and shall maintain in said account all
monies received from the United States Government under Federal
"Revenue sharing" legislation.
2. The City Treasurer is hereby authorized and directed to
deposit said fund in financial institutions in accord with the
laws of the State of Montana at the most favorable rate of interest
obtainable until the ultimate disposition of said funds has been
established by the City Council.
PASSED AND
KALISPLLI,ir
D BY THE MAYOR AND CITY COUNCIL OF THE CITY OF
THIS --MI) day of December, 1972.
1, the undersigned, City Clerk of the City of
is a true and correct copy of the r
Co�4ncil of the City of Kalispell, Montana a
December 11, 1972
certify that the
ed by the City