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RESOLUTION 346
WHEREAS, under authority and direction of a Resolution duly I
passed by the City Council of the City of Kent the City Treasurer!
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has invested certain moneys from funds belonging to the Cumulativ1
! Building Fund of said City in U.S. Savings Bonds, Series G.and 1
~lHEREAS, it has become necessary for the proper operation of
the said Cumulative Bldgo Fund that it use the moneys so
invested,
NOW,THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF KENT IN REGULAR MEETING ASSEMBLED
That the City Treasurer is hereby authorized and directed
immediately to surrender said U.S. Savings Bonds, Series G, in
which the said Cumulative Building Fund are invested to the
United States Treasurary Department, through any Federal Reserve
Bank or other authorized agency, and receive the then cash value
there foro
AND BE IT FURTHER RESOLVED
That upon the receipt of moneys for said bonds surrendered
the City Treasurer shall deposit said moneys in a depository
authorized to hold minicipal funds to the credit of the fands
of the Cumulative Building Fund from which the investment was
originally made.
Passed by the City Council this June, 1954o
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