HomeMy Public PortalAboutResolution No. 004-57 07-19-1957 RESOLUTION NO. 4, 1957
RESOLUTION DIRECTING THE MAYOR TO PURCHASE
CERTIFICATES OF DEPOSITS AND TO ORDER THE
ISSUANCE OF A CHECK IN PAYMENT THEREOF.
THEREFORE, BE IT RESOLVED BY THE TOWN COUNDIL OF THE
6 TOWN OF RICHLAND HILLS, TEXAS THAT:
The Mayor be authorized and directed to purchase
Certificates of Deposit from the Continental National
Bank of Fort Wa±h, Texas, in the name of the Town of
Richland Hills, said Certificates of Deposit to be
purchased from funds in the Interest and Sinking Fund.
That said Certificates of Deposit to be in such de-
nomination and for such period of time as to become
due and payable prior to the time that the Town is re-
quired to make payments out of said funds to pay the
Interest and Principal on the outstanding Water Reve-
nue Bonds and that all certificated of Deposit purchased
out of said funds be and the Mayor and Treasurer are
• hereby authorized to deposit into the Interest and Sink-
ing Fund Account at the Continental National Bank all
funds received from the Certificates of Deposit at the
time they are cashed.
That the Mayor and Treasurer be and they are hereby
directed to sign checks on the said Interest and Sink-
ing Fund for the purpose of purchasing the above
Certificates of Deposit under the terms and contracts
heretofore set out in this resolution.
PASSED AND APPROVED thisi7ay of July,1957 .
MAYOR //7
ATTEST:
City S cretary
S