HomeMy Public PortalAbout76-012 (02-17-76),~:. . .
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RESOLUTION NO, 76-12
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYN WOOD
ESTABLISHING THE MOSNIAN-KERR CENTENNIAL ACCOUNT
Whereas, Mrs Bessie Bo Kerr9 4304-1/2 Agnes AvenueA Lynwood, .bas
offered to the City of Lynwood 'the sum of $500 as a gift to be held until the
national Tricentennial on July 9.s 2076; and
WHEREAS, Mrse Kerr has indicated ths.t slae is, offering this gift to the City
in. order to show her appreciation for the privilege of living in this City, State and
Nation and for mankind in future generations; and
WHEREAS,. this City Council, on behalf of itself9 its present residents, and
its x°esidents in years to come wishes to express to Mrs, Kerr it:s sincere
admiration df her motives and appreciation for her generosity; and
WHEREAS, the City Council wishes to establish an account in.order that
Mrso Kerx°Bs gift may be~received and maintained in accordance with heir wishes,
NOW, THEREFORE, THE CITY COUNCIL OF' THE CITY OF LYNWOOD
HEREBY DOES RESOLVE AS FOLL.OWSo
Section le There is established hereby an account to be known as the
Mosman-Kerr Centennial Account, the purpose of which is to carry the principal.
and interest of the aforesaid gift to the City from Mrs, Bessie Be Kerr
Section 20 Said gift hereby is accepted by the City of Lynwood and ordered
credited to the Mosman-Kerr Centennial Accounts
Section 3o The money in said account, and any and alI interest earned
thereon9 shall be deposited, invested and reinvested in such forms of investment,
otherwise permitted by la.w, as deemed by the City Treasurer to provide maximum
insured return consistent with the longrange objectives of the donor,
Section 4, The money in said account shall remain, therein until July 1,
20`69 at which time all but $19 000 .thereof shall be distributed to the general
fund of the City for expenditure for such purposes as the City Council shall deem
appropriate with specis.l concern being given to the maximum extent possible,
to municipal projects involving senior citizens, homeless9 abused, delinquent
children and .hospitalized personse The remaining $1, 000 shall be reestablished
as a second Mosman-Kerr Centennial fund to remain for the 100 years there
following and to be paid to the City on July la 21`6,
Section 5o Prior to July 1, 20769 none of the money in the Mosman-Kerr
Centennial Fund shall be expended9 borrowed, pledged, assigned ox° otherwise
transferredo
Section 6, Certified copies of this resol'u~tion shall be maintained in the
offices of the City Clerk9 City Treasurer and Mayor throughout the period covered
.hereby,
-. PASSED, APPROVED AND ADOPTED this 17th 'day of February, lg'76o
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Henry Jo ~ ew r, Mayor
ATTESTo
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STATE OF CALIFORNIA )
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COUNTY OF LOS ANGELES )
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I, the undersigned, City Clerk of the City of
Lynwood, do hereby certify that the above and foregoing
resolution was duly adopted by the City Council of said
city at a regular meeting thereof held
in the City Hall of said City on the 17th day of ~,
February 1976 and passed by the following vote:
AYES:- COUNCILMEN Byork, Green, Liewer, Morris, Rowe.
NOES: COUNCILMEN None.
ABSENT: COUNCILMEN None.
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., ,,/hTY C E K, CITY OF LYN OOD
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STATE OF CALIFORNIA )
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COUNTX bF LOS ANGELES )
I, the undersigned, City Clerk of the City of
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Lynwood,. do hereby certify that the above and foregoing
resolution was duly adopted by the City Council of said
city at a regular meeting thereof held
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.. in the .City Hall of said city on the ,ry,F.y, day of
' ~ „~f'i~'f'sria~rzr l~L_, and~~pass~ed by the following votes -
'+ AYES: COUNCILMEN
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NOES : COUNCILMEN nT .,
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. ~ ~ ABSENT: COUNCILMEN rT__
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~' ~"~ ~` s/ Josephine L. Shepherd
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i {;SEAL) CITY CLERK, CITY OF LYNWOOD
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''! STATE OF ,CALIFORNIA )
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COUNTY OF LOS ANGELES ) ,
,.~ I, the undersigned, City Clerkxof the.City of
.;, Lynwood, and clerk of the City Council of said city, do~
''~ hereby certify that the above and foregoing is a full,
true and correct copy of Resolution No . ~~.,7 ~ on
i file in. my office and that said Resolution was adopted
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Dated this ~ - ,day of ~,~ „ ~,t , ],-~~.
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cCITY C RK, CITY F LYNW OD
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