10/26/1931 Meeting - Laserfiche WebLink

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~ . . 97 -- - -.- -- -- ~ .- -,. ~ _u --~- ~ - - .. .- ---..- - -. --- -- - . - - -. - ~ .-- . . 0 - ~-- -- -0 0 - 0 0 . . . - -- .~_. - - may be held in tru st by sai d Kount ze Bros. for thepul~po se aforesaid. tt The following resolution directing the Oi ty ~.reasurer to" return by .. I transfer, from the sinking funds to the general fund, the sum of ~8,719.92, which amount the ge ne ral fUnd had advanced for premiums and accrued interest for the ,;) purchase of bonds in sinking fund investments, was read, and a motion made, sec- 't-:' onded, and carried to adopt the resolution: '--'r..~ "\-.... II RESOLUTION WHEREAS, heretofore the City of Eugene has purchased at various times for an investm~nt of sinking funds various issues of bonds, and WHEREAS, as the purchasers of said bonds it has been necessary to pay interest and p.r'emium charges in acclLuring title to said bonds., and. . Vv1IEREAS , the inter'est on said b on(ls will accrue to the be nefi t 0 f the sinking funds, and the premium paid was a proper premium to be paid out of the sinking fUnds fOl" the purchase of said bond s, and Wherea s, the 'I'reasurer has advanced said charge from the general fUnds of the City in accpllr'ing said bonds, Now, Therefore, be it resolved that the City Treasurer be and is hereby authorized and directed to transfer from the si liking funds to the Gene ral fund . sai d sum of $8,719.92, be ing the amoun t ad vanc ed by him out of the general fund in connection with general purchase~. If The following resolution was read, and a motion was made, seconded, and ~I carried to adopt the same: rf RESOLUTION Be it resolved by the Common Gouncil of the City of Eugene tha t the Ci ty Trea surer of said Oi ty be and is hel'eby instruc ted that the earnings from all sir~ing fund investme~ts shall accrue to , and be credited by him to the sinking funds, and for the purpose of fixing a defil'}lte date thi s rule shall s tr ic tly apply commencing Nov. 1st, 1931 , and thereafter. IT The fo 11 owing re sol uti on dire C t ing the G ity 'rreasure r to all at to each sinking fund its pro rata share of sin};:ill.g fund earnings on the first day of --.... January and July of each year and deteri~ne the pelicy of the Gouncil with .' re fe renc e to sir~ing funds was read, and on motion duly seconded and carried was a do l' t e d : tI RESOLUTION Vmereas, heretofore and from time to time' and from year to year pursuant toOauthorization of various bond provisions, the Common Councii of the City of Eugene has levied taxes fOl~ the creation of Sinking Funds for the various bond f, issues, for the pU1' pos e 0 l' l' et i1'ing said bond sat the i1' ma turi ty, and whe1'eas said accumulated sillicing funds aggregating the swn -of $246,591.~are invested in B.onds, Warran ts, Cash and vari DUS secure.ties and a t varying ra te s of interes t, and I whereas it would b'e difficult to allot any definite investment to any particular sinking fund in exac t amount, and whereas each sinking fund will share more justly in the earnings upon these va1'ious investments upon a pro .rata basis, now there- fore be it Resol 'led, tha t the Trea surer shall hold all of said investment of BOndS, t.:iliii' Warrants and Cash and secupeties and the earnings therefrom in trust for the . I I ..ollI1l