Resolution 02849RESOLUTION O. 2849
AUTHOETZ,INil PUBLIC UTILITIES SCARD TO RETAIN EARNINGS
IN EXCESS OF AMOUNTS PROVIDED IN SECTION 12-6 OF THE
CHARTER.
WHEREAS, prior to July 1, 1942 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, 1943 in excess of the payments and retainments
specified and authorized under Section 12-6 of the charter of the City of Alameda,
which excess amount was estimated at the sum of 242,341-56; and
WHEEEAS, it appears to this Council that the net earnings of the public
utilities of this city under the management and control of said Board will be con-
siderably higher during the fiscal year 1942-1943 than they normally would have
been, due to the fact that certain customary maintenance and replacements were cur-
tailed and, deferred because of governmental restrictions on the use of critical
materials; and
WHEREAS, the Public Utilities Board bas requested permission to retain
an amount in excess of the retajsmnehts permitted by the formula provided in said
Section 12-6 of the charter, and, specifically, to retain all earnings of the pub-
lic utilities for the fiscal year ending June 30, 1943 in excess of $242,341.56; and
WHEREAS, this Council believes that it is in the public interest that the
reserve for contingencies, replacements, renewals, additions and improvements for
the utilities under the control and management of said Public Utilities Beard be
increased to the full amount contemplated by the charter;
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 fis-
cal year ending June 30, 1943 in excess of the sum of $242041.56.
e * * * * * *
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 4th day of May, 1943, by the following vote,
to wit:
(5).
AYES: Councilmen Branscheid, Howe, Jones, Osborn and President Godfrey,
NOES: None,
ABSENT: None,
IN WITNESS WHEREOF, I have hereunto se- my hand_ and affixed the official
seal of said City this 5th day of May, 1943.
LORELiM R. BEATIE
(aEAL) City Clerk of the City of Alameda
1 hereby certify that the foregoing is a full, true and correct copy of
'Tesolution No. 2849, AUTHORIZENG PUBLIC UTILITIES BOAR3 TO RETAIN EARNINGS IN
EXCESS 01 AMOUNTS PROVIDED Tn SECTION 12-6 OF THE CHARTER," introduced and adopted
by the Cduncil on the 410 day of May, 1943.
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CitV Clerk of* ttle-OS-tIr; of Alameda