Resolution No. 2262
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RESOLUTION NO. 2262
A RESOLUTION OF THE CITY COUNCIL OF THE Crry OF VERNON
RESOLVING ITS FISCAL POLICY WITH RESPECT TO ITS MUNICIPAL
ELECTRICAL GENERATING AND DISTRIBUTION.SYSTEM..
THE CITY COUNCIL OF THE CITY OF VERNON RESOLVES AS FOLLOWS:
SECTION 1:
That it has been in. the past and now is the
polley of the City .of Vernon to encourage favorable electrical rates to
consumers within the City of Vernon~ rather than to operate its electrical
system for profit;
SECTION 2:
That it is the policy of the City of Vernon
not to use income from the operation of the power system for purposes
unrelated to the Power Department;
SECTION 3 :
That where needed and within the ability of
the City of Vernon, after considering the reasonably possible and probable
needs of other departments of the City of Vernon~ such general funds of the
City of Vernon as are available may be used to aid and assist the Power
Department;
SECTION 4:
That it is the present intention and judg:m.ent
of the City Council that so long as the financial condition and outlook or the
City of Vernon remains substantially as it is at the present time~ that
general funds in an amount up to $300,000.00 per fiscal year should be
expended for operating expenSes of its Power Department, if needed to
obtain the above-mentioned results;
SECTION 5:
That capital additions to the power system
should be financed as: general obligations of the City of Vernon~ where
funds are not otherwise available;
SECT JON 6,:
The City Clerk of the City of Vernon shall
certify to the passage of this Resolution~ and thereupon.and thereafter the
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sa.me sha1l be in fu.1l force and effect.
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ADOPTED and APPROVED this 17th.day of March. 1959.
ATTEST:
~o~rk
STATE OFCALIFOa,NIA )
) ss.
COUNTY OF LOS ANGELES )
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I" F. A. ZIEMER, City Clerk of the City of Vernon, 40 hereby
certify that the foregoing Resolution, being Resolution No. 2262. was duly
adopted by the City Gouncit of the City of Vernon, and approved by the
Mayor of said City, at a regular meeting of too City Council held on
March 17. 191>9.
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