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General - Type
Resolutions
General 2 - Date
1/25/1994
Number
R-18421
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1 <br /> RESOLUTION NO. 18421 <br />2 <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />3 RIVERSIDE AUTHORIZING THE CITY TREASURER TO <br /> INVEST SURPLUS CITY FUNDS BY PURCHASING THE <br />4 BONDS WHICH ARE TO BE ISSUED FOR THE ISABELLA <br /> STREET ASSESSMENT DISTRICT <br />5 <br />6 <br /> WHEREAS, the City Council (the "City Council") of the <br />7 <br /> City of Riverside (the "City") has adopted Resolution No. 18420, <br />8 <br /> authorizing the issuance and sale of bonds for the Isabella Street <br />9 <br /> Assessment District of the City of Riverside (the "Assessment <br />10 <br /> District") in the aggregate principal amount of $27,759.40 (the <br />11 <br /> "Bonds"); and <br />12 <br /> WHEREAS, pursuant to Government Code Section 53601(a) the <br />13 <br /> legislative body of a local agency having surplus money in its <br />14 <br /> treasury not required for immediate necessities of the local agency <br />15 <br /> may invest such portion of the money as it deems wise or expedient <br />16 <br /> in, among other investments, bonds issued by the local agency; and <br />17 <br /> WHEREAS, the City Council has been advised by the City <br />18 <br /> Treasurer that the City has surplus funds which are not required <br />19 <br /> for immediate necessities of the City in a sufficient amount that <br />20 <br /> the City could purchase all of the Bonds which are to be issued for <br />21 <br /> the Assessment District; and <br />22 <br /> WHEREAS, the City Council has determined that investing <br />23 <br /> such surplus funds in the Bonds would be a wise and expedient <br />24 <br /> investment; <br />25 <br /> NOW, THEREFORE, BE IT RESOLVED, DETERMINEDAND ORDERED BY <br />26 <br /> THE CITY COUNCIL OF THE CITY OF RIVERSIDE, CALIFORNIA, that the <br />27 <br /> City Treasurer is hereby authorized and directed to purchase all of <br />28 <br /> <br /> <br />
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