HomeMy WebLinkAboutRES 1003CITY OF RENTON, WASHINGTON
RESOLUTION NO. 1003
A RESOLUTION of the Mayor and City Council of the City of
Renton, Washington, authorizing and directing the City Trea-
surer to make certain transfers between city funds and to
make certain deposits in such city funds.
WHEREAS, under the provisions of Ordinance No. 1450, passed and approved
January 27, 1953, pertaining to the outstanding "City of Renton Water and Sewer
Refunding and*Improvement Revenue Bonds" the City was obligated to accumulate in the
"Reserve Account" in the "Renton 1953 Water and Sewer Refunding and Improvement
Revenue Bond Redemption Fund" an amount not less than the average annual debt
service requirements, both principal and interest, of said bonds, which amount
was to be accumulated by no later than March 1, 19582 and which amount in full
has been accumulated in said "Reserve Account" and in addition thereto there has
been accumulated a surplus of $1.1,225.80; and
WHEREAS, under the provisions of Ordinance No. 1489, passed and approved
July 27, 1954, pertaining to the outstanding "City of Renton Water and Sewer Re-
venue Bonds, 1951", the City obligated itself to accumulate by no later than
September 1, 1960 in the "Reserve Account" in the "Renton 1954 Water and Sewer
Revenue Bond Redemption Fund" the sum of $32,000.00 and '$24,135.38 has presently
been accumulated therein; and
WHEREAS, under the provisions of Ordinance No. 1766 passed and approved
May 19, 1959, pertaining to a proposed issue of "City of Renton Water and Sewer
Revenue Bonds, 1959", the City has obligated itself to pay into the "Reserve
Account" in the "Renton 1959 Water and Sewer Revenue Bond Redemption Fund" prior
to the delivery of said bonds to the successful purchaser thereof, the sum of
$3,361.18, NOW, THEREFnRE,
BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, as follows:
Section 1. The City Treasurer is hereby authorized and directed to
transfer forthwith to the "Reserve Account" in the "Renton 1954 Water and Sewer
Revenue Bond Redemption Fund" from the "Reserve Account" in the "Renton 1953
Water and Sewer Revenue Bond Redemption Fund" the sum of 7,864.62 and from the
"Reserve Account" in the "Renton 1953 Water and Sewer Refunding and Improvement
Revenue Bond Redemption Fund" the sum of -$3.,361-18 unto the "Reserve Account" of
the "Renton 1959 Water and Sewer Revenue Bond Redemption Fund".
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Section 2, The City Treasurer is further authorized and directed to
deposit in the "Reserve Account" in the "Renton 1959 Water and'Sewer Revenue
Bond Redemption Fund" all interest received on any bank deposit of or on any
investment of monies in the Reserve_Accounts.in all of said "Renton 1953 Water
and Sewer Refunding and Improvement Revenue Bond.Redemption Mind", "Renton 1954
Water and Sewer Revenue Redemption Fund" and "Renton 1959 Water.and Sewer Re-
venue Bond Redemption Fund" until the total reserve sum required by Ordinance
No. 1766 shall have been accumulated in said "Reserve Account" in the "Renton
1959 Water and Sewer Revenue Bond Redemption Fund", after which time such in-
terest shall be deposited in the "Principal and Interest Account" in the 11 Renton
1959 Water and Sewer Revenue Bond Redemption Find.".
Adopted at a regular meeting of the City Council and Approved by
the Mayor this 2nd day of June, 1959. J
l`MAYOR
ity Clerk
APPROVED AS TO MRM:
City Attorney
I, ELTON ALEXANDER, City Clerk of the City of Renton, Washington,
do hereby certify that th6 attached Resolution, being Resolution No. 1003 is
a true and correct copy of the original resolution adapted the 2nd day of June,
1959, as said Resolution appears on the Minute Book of the City,
DATED this 2nd day of June, 1959.
ELTON ALEXANDER, Clerk of the City of
Renton, Washington