Resolution No. 876RESOLUTION NO. 876
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
AMENDING RESOLUTION NO. 728, PROVIDING FOR THE INVESTMENT
OF SURPLUS FUNDS OF THE CITY BY THE CITY TREASURER AND
DESIGNATING THE CITY OFFICIALS TO SIGN CHECKS.
BE IT RESOLVED by the City Council of the City of Cypress as follows:
That Resolution No. 728 of the City Council of the City of Cypress,
passed and adopted by said Council at a regular meeting held on the 10th
day of October, 1966, hereby is amended to read as follows:
Section 1. Surplus Money.
The authority of the City Council of the City of Cypress to invest
or to reinvest surplus money in the City Treasury, not required for the
immediate necessities of the City, and any other money allowed to be
invested by law, and to sell or exchange securities so purchased, pursuant
to Sections 53601 and 53635 of the Government Code, hereby is delegated
to the City Treasurer, who shall make a monthly report of all such trans-
actions to the City Council of the City of Cypress, pursuant to Section
53607 of the Government Code.
Section 2. Deposit of Funds.
The City Treasurer shall deposit such funds of the City as are
necessary to meet the City's current obligations in state or national
banks in the State of California, pursuant to Section 53635 of the
Government Code, and the money so deposited may be drawn out pursuant to
Section 53642 of the Government Code, by check or order signed by any two
of the following City officials: Mayor, City Treasurer, City Manager, and
Director of Finance.
PASSED AND ADOPTED by the City Council of the City of Cypress at a
regular meeting held on the 27th day of May, 1968.
ATTEST:
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CITY CLERK OF THE CITY OF CYRPESS
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
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MAYOR OF THE CITY OF CYPRESS
I, DARRELL ESSEX, City Clerk of the City of Cypress, DO HEREBY
CERTITY that the foregoing Resolution was adopted at a regular meeting
of the said City Council held on the 27th day of May, 1968.
AYES: 5 COUNCILMEN: Harvey, Kanel, Kanode, Noe, and Bowen
NOES: 0 COUNCILMEN: None
ABSENT: 0 COUNCILMEN: None
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