Resolution 11767CITY OF ALAMEDA RESOLUTION NO. 11767
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ALAMEDA ESTABLISHING A RESTRICTED RESERVE
ACCOUNT
RESOLVED, by the City Council of the City of Alameda
(the "City"), as follows:
Section 1. There is hereby established in the City's
General Fund a special Reserve Account, which shall initially be
funded in the amount of $3,000,000.
Section 2. The Reserve Account established pursuant
to Section 1 hereof may only be invaded by action of this
Council, and such Reserve Account, if invaded, shall be
replenished within a reasonable period of time after such
invasion.
Section 3. This Resolution shall take effect
immediately, and the Finance Director is hereby authorized to
make the necessary transfers from other funds of the City to fund
the Reserve Account established pursuant to Section 1.
PASS AND ADOPTED by the City Council of the City of
Alameda, California, this 5th day of July, 1989 by the following
vote:
AYES: Councilmembers Arnerich, Camicia, Thomas,
Withrow and President Corica - 5,
NOES: None,
ABSENT: None,
Attest:
City Clerk