HomeMy WebLinkAbout72-028RESOLUTION NO. 72- %~/
A RESOLUTION ESTABLISHING A FEDERAL SHARED
REVENUE FUND, AUTHORIZING INVESTMENT AND RE-
INVESTMENT IN SAID FUND, AND PROVIDING FOR
DISBURSEMENTS THEREFROM.
THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND, IN REGULAR SESSION
ASSEMBLED, DOES HEREBY RESOLVE:
Section 1. There is here and hereby established a "Federal
Shared Revenue Fund," in which shall be deposited all sums of money
received by the City pursuant to Title I of the State and Local Fiscal
Assistance Act of 1972.
Section 2. The moneys received for and on account of the
said Federal Shared Revenue Fund may be invested and reinvested by
the Treasurer of the City of Port Townsend in the manner of other
City funds.
Section 3. Moneys may be expended from said Federal
Shared Revenue Fund either by warrants drawn against said fund or by
transfers to salary and claims funds authorized under the said
State and Local Fiscal Assistance Act of 1972.
Section 4. No disbursements shall be made from or on
account of the said Federal Shared Revenue Fund except in accord with
the provisions of the said State and Local Fiscal Assistance Act of
1972.
Passed and approved December 5, 1972.
L/~ Mayor
ATT~T:
GALE I. Y~NC~OOD
City Cle~)~ ~/
APPROVED AS TO FORM: