Resolution 0314924
RESOLUTION NO. 3149
AUTHORIZING THE BOARD OF PUBLIC UTILITIES TO RETAIN
EARNINGS IN EXCESS OF AMOUNT PROVIDED IN SECTION 12-6
OF THE CHARTER.
WHEREAS, prior to July 1, 1944, the Public Utilities Board of the City
of Alameda adopted its budget and made its estimate of the amount to be earned
in the fiscal year ending June 30, 1945, in excess of the payments and retentions
specified and authorized under Section 12-6 of the Charter of the City of Alameda;
and
WHEREAS, it appears to this Council that as a result of the year's
operation of the Utility, there will be on hand at the close of the year, net
earnings considerable in excess of the amount permitted to be retained by the
Public Utilities Board under the provisions of said Section 12-6 of the Charter;
and
WHEREAS, the Public Utilities Board has requested permission to retain
for the reserve specified in said Section 12-6 of the Charter, an amount in ex-
cess of the retentions permitted by the formula provided in said Section 12-6; and
WHEREAS, this Council believes that it is in the public interest that
an adequate reserve for contingencies, replacements, renewals, additions and im-
provements for the utilities under the control and management of said Public
Utilities Board be maintained.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ALAMEDA
that the Public Utilities Board of said City be, and it is hereby authorized to
retain in the Bureau of Electricity Fund, all earnings of said utility for the
fiscal year ending June 30, 1945, remaining in its possession after it shall
have transferred to the General Fund of said City the sum of One Hundred Thousand
Dollars ($100,000.) over, above and in addition to the amounts set forth in De-
partment of public Utilities, Resolution No. 820, adopted by said Public Utili-
ties Board June 8, 1944; and
BE IT FURTHER RESOLVED that the Public Utilities Board be, and it is
hereby, authorized and directed to transfer to the General Fund of the City of
Alameda, prior to June 30, 1945, out of its net earnings for the fiscal year
1944-45, the sum of One Hundred Thousand ($100,000.) Dollars.
* * * * * * * * * * *
I, the undersigned, hereby certify that the foregoing Resolution was
duly and regularly introduced and adopted by the Council of the City of Alameda
in regular meeting assembled on the 5th day of June, 1945, by the following vote,
to wit:
AYES: Councilmen Howe, Jones, Osborn, Sweeney and President
Branscheid, (5).
NOES: None.
ABSENT: None,
IN WITNESS WUEREOF I have hereunto set my hand and affixed the offi-
cial seal of said City this 6th day of June, 1945.
J. P. CLARK
(SEAL) City Clerk of the City of Alameda
* * * * * * * * * *
hereby certify that the foregoing is a full, true and correct copy of
"Resclution No. 3149, AUTHORIZING THE BOARD OF PUBLIC UTILITIES TO RETAIN EARN-
INGS IN EXCESS OF AMOUNT PROVIDED IN SECTION 12-6 OF THE CHARTER," introduced and
adopted by the Council on the 5th day of June, 1945.
,/
City, Ole 'knot.' the City of Alameda