RES 57-04 GOVERNMENT BONDSRESOLUTION
A RESOLUTION authorizing the investing of Water and Sewer
P~serve Funds accumulations in U. S. Government obligations.
WHEREAS, Ordinances Nos. 22 and 24 provide for the establish-
ment of Water and Sewer Bond Beserve Funds, and
WHEREAS, the provisions referred to authorize, with
stipulations, ~he investing of such Peserve Funds in U. S. Government
Bonds or other U. S. Government obligations, and
WHEREAS, it is considered to the best interests of the
citizens ~hat the said cash reserves now held on deposit with ~he
Town's official depository be invested at this time;
NOW, THEP~FORE, BE IT RESOLVED that the Town Treasurer is
hereby authorized to purchase, with funds currently in the Water and
Sewer Peserve Funds, (approximating $8,000.00) such U. S. ~overnment
obligations as may be provided under Ordinances Nos. 22 and
THAT the Treasurer shall administer such investment to
the best interests of the citizens of the Town.
THAT earnings, retirement or sale of such investment shall
be credited to the proper funds of the Town as prescribed by State
law.
PASSED by the Council of the Town of Winslow, and approved
by its Mayor this 23rd day of July, 1957-
ATTEST:
Clerk