HomeMy WebLinkAbout918_CCv0001.pdf RESOLUTION NO. 918
RESOLUTION CONCERNING RATES AND CHARGES OF THE WATER DEPARTKENT
OF THE CITY OF REDLANDS AND CREATING A LEGAL AND CAPITAL IMPROVE-
MENT RESERVE,.
1 WHEREAS, the City Council of the .City of Redlands on
the 23rd day of December, 1957 adopted Resolution No. 917 entitled
RESOLUTION OF TIE CITY COUNCIL OF THE CITY OF REDLANDS ESTABLISHING
RATES AND CHARGES OF THE WATER DEPARTIJSNT AND REPEALING RESOLUTION
NO. 855 IN ACCORDANCE WITH ORDINANCE NO. 1043.
BE IT HEREBY RESOLVED, as follows:
1. That a Legal and Capital Improvement Reserve, within
the Water Department Fund, be created.
2. That each month one-sixth (1/0) of the total amount
of the water sales billings of the City of Redlands shall be trans-
ferred to said Legal and Capital Improvement deserve.
3. That the funds in said Legal. and Capital Improvement
Reserve shall be held in an inactive account, or all, or part of
said funds may be invested in a manner provided by lacy in the State
of California.
4. Such reserve shall only be used, first, to satisfy
possible legal requirements of the hater Department after which
the remaining balance shall be used as needed, exclusively for
Water Department Capital Improvements.
5. All interest paid for such investments shall be
credited to the Legal and Capital Improvement Reserve.
6. This Resolution shall take effect on the ist day
of IViarch, 1958.
ADOPTED, SIGNED AND APPROVED this 7 / ' day of
_J cA o�-�-r _ , 1956.
Layor f the Gity oi ttedlaHs
'_'
ATTEST:
City C erk
APPROVED FUR r^^O
City At torn
I hereby certify that the above is a true and correct
copy of a resolution duly and regularly adopted by the City' Coun 1,
City of Redlands, at a regular meeting thereof held on the _7"
day of , 19M
City Clerk of the Cit, of Redlands