HomeMy WebLinkAbout451 - Fund Transfers to Inactive Account674
RESOLUTION NO. 451
RESOLUTION OF THE CITY COUNCIL, CITY OF COSTA MESA, CALIFORNIA,
AUTHORIZING THE CITY TREASURER ANIi THE DIRECTOR OF FINANCE TO
TRANSFER FUNDS FROM THE ACTIVE ACCOUNT TO THE INACTIVE ACCOUNT.
WHEREAS, the City Council did, on the loth day of September, 1955, adopt
Resolution No. 172 establishing
an
Inactive
Account
in the
sum of
Seventy
Five
Thousand Dollars ($75,000.00);
and
WHEREAS, the City Council has found and determined that the City re-
ceives funds from time to time which are not needed for immediate expenditure; and
WHEREAS, it world be for the best interests of the City of Costa Mesa
that said funds be placed in the Inactive Account as the occasion arises;
NOW, THI�REFORE, the City Council of the City of Costa Mesa does hereby
resolve and determine as follows:
SECTION 1. Resolution No. 172 is hereby rescinded.
SECTION 2. The United States National Bank of San Diego is hereby des-
ignated as the depository for City funds.
SECTION 3. The Director of Finance, with the consent of the City Tress-
urer, is hereby authorized to establish an Inactive Account in said depository, and
said Director of Finance, with the consent of the City Treasurer, is authorized
to transfer money from the Active Account to the Inactive Account whenever, in
their judgment, such funds will not be needed in the Active Account.
PASSED AND ADOPTED this 10th
day
of March,
1958.
Ma
of the
...�,.p.�/
City of Costa Mesa
AT�:�
City Clerk o� theCosta Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF COSTA MESA )
I, A. C. SWARTZ, City Clerk and ex -officio Clerk of the City Council
of the City of Costa Mesa, do hereby certify that at a regular meeting of the City
Council, City of Costa Mesa, California, held on the 10th day of March, 1958, the
foregoing Resolution No. 451 was considered section by section, and that said Res-
olution was then passed and adopted as a whole by the following roll call vote, to -wit:
AYES:. COUNCILMEN J. 5*LITH, B. SMITH, MEYERS, PINELEY, NELSON
NOES: COUNCILMEN NONE
ABSENT: COUNCILMEN NONE
IN WITNESS WHEREOF, I have hereunto set my. and. and se thisIth day of
March, 1958- /
City Clerk and ex -officio Clerk of the
City Council of the City of Costa Mesa
Chief Deputy