HomeMy Public PortalAboutResolution No. 036-58 11-24-1958 RESOLUTION NO.l ?
A RESOLUTION DIRECTING THE MAYOR AND THE
CITY TREASURER TO ESTABLISH A SEPARATE
BANK ACCOUNT IN WHICH WILL BE DEPOSITED
ANY AND ALL MONIES RECEIVED FROM THE SALE
OF STREET AND DRAINAGE BONDS AND PROHIBIT-
ING THE USE OF SAID FUNDS FOR ANY PURPOSE
OTHER THAN FOR STREET AND DRAINAGE IMPROVE-
MENTS, REPAIRS AND THE NECESSARY EQUIPMENT
AND INCIDENTAL EXPENSES IN CONNECTION THEREWITH.
WHEREAS, the voters of the Town of Richland Hills have recently ap-
proved a bond issue for street and drainage improvements; and
WHEREAS, it is anticipated that said bonds will be sold in the usual
course;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE TOWN OF
RICHLAND HILLS, TEXAS, THAT:
Section 1. The Treasurer shall establish a separate and distinct bank account
in the name of the town of Richland Hills with an appropriate designation in
order to keep the said account separate from any and all other accounts that
the Town may have and requiring that any checks drawn on said account be
countersigned by the Mayor and one of the members of the Board of Aldermen.
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Section 2. That no checks shall be drawn on said account save and except checks
for street and drainage improvements and equipment to be used in the mainten-
ance of said streets and other necessary and usual expenses in connection with
the street and drainage improvement program.
Section 3. Nothing contained herein shall prevent the investment of a portion
of the money that will not be immediately used when such investments are ap-
proved by the Board of Aldermen and are authorized by the laws of the State
of Texas and guaranteed by the Federal Government or one of its agencies.
Section 4. That the declared purpose of this resolution is to guarantee that
the money from the bonds shall be used only for the purposes for which they
were voted.
Section 5. That this resolution shall be published in the Town's official
newspaper.
PASSED AND APPROVED THIS 'EL DAY OF NOVEMBER 1958.
APPROVED
ATTEST: 4?;?
.
Paul C. Daniels
Virgin' Howard