HomeMy WebLinkAbout69-239 06-24-1969RESOLUTION NO. 239
WHEREAS, the City Council of the City of Euless has determined
that it is to the best interest of the City of Euless to make interim in-
vestment of Revenue Bond Reserve Funds not presently required to be paid
in retirement of the outstanding Water and Sewer Revenue Bond issues, and
WHEREAS, it is anticipated that such interim investment of such
funds will yield interest which will benefit the citizens of Euless, Texas;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
EULESS, TEXAS:
1.
That the Bankers Trust Company of New York, New York, be, and the
same is hereby authorized and directed to purchase United States Treasury
Notes using the available balance of such Water and Sewer Bond Reserve Funds,
such Treasury Notes bearing interest at the rate of 62/, and maturing
May 15, 1976;
2.
That the income, interest and revenues derived from the investment of
such Water and Sewer Reserve Funds shall be paid back into and accumulated in
the Reserve Fund for the purpose of retiring the Water and Sewer System Bond
issues dated July 15, 1965, and January 15, 1967.
APPROVED on the 24th day of June , 1969.
ATTEST:
City Manager
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Mayor
A.LU.QSZ
Item VIII
Council Meeting
June 24, 1969