Resolution No. 313
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USOLtJTIOI' 1'0..3) 3
A USOLUTIOll OJ' THE BOARD 0... mUSTDS OJ' !l:llIl CITY 07
VERl'Olf lWUlTG DBPOSITORIES J'OR'fHE:nIOSIT OJ' PUBLIC )(()liIBS l'OR
~Am an'!'.
WHlllREAS. the City of Vernon has heretofore sold its
Fire :Bonds and now has on hand monies to be depoal tad in some
depository.
THBRBFORE. m: IT BBSOLVED:
Section I.
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That the C1 ty Treasurer of the C1 ty of Vernon be and he
is hereby authorized to deposit One Hundred !housand Dollars
($100,000.00) of said :Bond money in the Hellman Commercial Trust
an4Saviq8 ~.a 'Ule City of Loa .J\ap.~_. .&Qe;alJ,y ;referred
to a8 the -All Bight and Day :Bank-. for a period of six (6) months J
the said monies to draw interest at the rate Of three peroent (3%)
per anDUJIl.
Section II.
That ~. said City Trea8urer is further instructed to
dep081t TWo Hundred Thousand Dollars (laOO,ooo.OO) of said bond
money in the Kerchants .atioRal :Bank of Los Angeles for a period
of six (6) months, said monies to draw intere8t at the rate of'
three percent (3%) per IIJJ""'.
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The balanoe of said money then on hand shall be depod ted
1n the Kerchants IT&t1onal :B&nk of Los Angeles on an open aocount.
Section IV.
The City Treasurer of' s&1d City of Vernon shall require
bonds for the said deposits in the manner and for.a required b.1 law.
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flection T.,.
!he City Clerk or the City of VerDoD is directed to
certify to the pusage or this Resolution, and thereupon and
thereafter the same shall be in full force and effect.
Adop ted.an(t'approT'. t111e'atIt./ ....,..t.fth.1...
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STA'l'E OF CALlFORllIil ~
COlJll~ 0'1 ~. ,.u/}'2i~)
I. 1'. J. Furlong, C1 ty Clem of the Ci ty or VerDon, do
ss.
certify that the foregoing resolution was duly adopted by the
Board of Trustees of the Ci ty of Vernon and signed by the Presi-
dent of said Board at a regular meetiq thereof held on the 18th.
day' of Kar7h. 1924. r: -Jl.d., '\..-
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