HomeMy WebLinkAbout52-049RESOLUTION NO. 52-~9
Establishing a Oapital Outlay Fund and Directing
the Allocation to Such Fund of the Moneys Paid by
Various Orange County Sanitation Districts for
the Purchass of the Interest of ~he City of
Banta Aaa in Section One of the Joint Outfall
Sewer System.
~HEREAS, the City of Banta Aaa has need for the construc-
tion of various physical facilities and improvements for the
health, efficiency and protection of the residents of this City;
and
WHEREAS, the total cost of such facilities and improve-
monte is of such magnitude that the revenues available to the City
in one year or even over a period of several years will not be
sufficient to accomplish the construction of all such facilities
and improvements, and
WHEBEAS, immediate preparation of schedules for construc-
tion and analysis of available revenue resovmces is mandatory in
order to obtain maximum effectiveness and economy in capital out-
lays over a considerable number of fiscal years; and
WHEREAS, the City has now received Two Hundred and Twenty-
seven Thousand, Six Hundred and Seventy-five Dollars and Twelve
Cents ($227,675,12) as payment for the sale of the City's interest
in Section One of the Joint 0utfall Sewer System ~o Orange County
Sanitation Districts Nos. One, Five, Six and Eleven; and
~S, since such payments are received for the sale of
physical assets of the City, the money so received should be
served for expenditures only on projects which will provide per-
manent additions to the physical or capital assets of the City,
one such project being the proposed construction and extension of
the storm sewer system within the immediate future;
NOW, THEltEFOHE, BE IT BEBOLVED: That there shall be esta-
blishe~ a fund to be entitled the mOapital Outlay Fundm within
the financial record system of the City and that expenditures
from such fund shall be made only for payment of the cost of
construction projects; and
BE IT FURTHE~ RESOLVED: That the aforementioned money
reoeive~ for the sale of the City,s interest in Section One of
the Joint Outfall Sewer System shall be deposited in the Capital
Outlay Fund.
PASSED AND ADOPTED by the Council of the City of
Santa Aha at its regular meeting held on the l~ day of
_ May , 1952.
ATTEST:
CITY CLE~X
(SEAL)
STATE OF 0ALIFOBNIA )
COUNTY OF OBAN~E ) es
CITY OF ~ANTA AHA )
I, EB2t~EEELER, do hereby certify that I am the City
Clerk of the City of Santa Aha and ex~officio Clerk of the City
Council of the City of Santa Aha; that the foregoing Resolution
was regularly introduced and read to the said Council at its
regular meeting held on the 19th day of ~y , 1952,
and was at said meeting regularly paeeedand adopted by said
Council by the following vote, to-wit=
AYES, TRUSTEES~ William Jerome, J.L.McBride,
0rson H. Hunter, Milford W. Dahl,
Courtney R. Chandler
NOES, TRUSTEES: None
(SEAL)
ABSENT, TRUSTEES: None
CITY