Resolution No. 751
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RESOLUTION NO. 751
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF VERNON .APPRO-
PRIATDrG 110,000.00 INTO A SPECIAL JmSERVE DIDEDITY FUND OUT
OF MORY BEC'.EIVIm BY THE CITY FROM USERS OF ELEC'l'RIC EmmGY
FROM TEE CITY t S POWER PLANT AND DISTRIBUTIlfG SYSTEM.
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THE CITY COUNCIL OF THE, CITY OF VERNON DOES RESOLVE AS FOLLOWS:
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THAT WH5HSAS, the City Council is of the opinion that
the best interests of the City would be served by gJ:'sat iBg a
special reaerve iDdemnity fund from moneys received from the
sale of electric energy, to be used for the purpose oi.' indemnify-
iDg any person, firm or corporation suffering damagea by d1s-
c.ontinuing service with the pUblic sen ice corpora..t ion now
opera.ting in the C.ity of Vernon and connect iog on to the Cityt s
ele~tric syatam;
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]fOW, TmmEFORE. :BE IT RESOLVED:
Section 1: ~hat t,here shall be appropriated and set
&side into a special. fund to be knOllIl as the Special. Resene
Iademnity Fund the sum of Five Hundred (1500.00) Dollars per
month from money collec.ted by the City from the sale of elec-
tric energy until the amount of said fund shall reach a total
of $101000.00;
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Section 2: That in the event said sum shall be de-
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pleted below the said sum of '101000.00, like appropriation sha.l.l
be made from moneys received from the sale of electric energy
so that a..t all times said fund shall have to its credit the sum
of 110,000.00;
Section 3: That the City Clerk shall certify to the
passage of this Resolut ion, and thereafter the same shall be in
full force and eff'e.ct.
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Adopted and
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9 STAB OF C.&LIFOBNIA. )
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Couty of' Loll Jagtiea)
I. T. j. FtJItLOlIG, City C1.ark of th$ Ci'ty cd Vernon,
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do he.reby cert ify that the forego ing !ie.olut ion Iro. 751....
d:a.lyadopted by the City Council of the City of Vernon,and
approved 'by the Jl'a..yor of sa1d City, a.t a regularmeat1ag there-
~, he~d 011 the 18th ~ or .r~~
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