Resolution 09762AL
CITY OF ALAMEDA RESOLUTION NO. 9762
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALAMEDA
ESTABLISHING RESTRICTIONS UPON USE OF CASH RESERVE
FUND OF CITY
WHEREAS, the City of Alameda (the "City") has accumulated
a Cash Reserve Fund (the "Fund") for the payment of ordinary
operating expenses of the City; and
WHEREAS, the City Council is concerned that reasonable
restrictions be established to ensure the integrity and long-
term usefulness of the Fund;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ALAMEDA as follows:
Section 1. Restrictions on Invasion of Fund. The Fund,
including earnings derived from the investment thereof, may he
invaded from time to time for the purpose of paying operating
expenses of the City; provided, however, that no such invasion
shall be authorized or made by any person if such invasion would
cause the balance in the Fund to fall below .1,666,887, unless
such invasion shall have been previously authorized by resolution
adopted by a majority of the members of this City Council. The
portion of the Fund so restricted shall be accounted for as a
separate account or subaccount within the Fund.
Section 2. Reimbursement of Fund. In the event that the
balance in the Fund shall at any time fall below the amount of
$1,666,882 as a result of an invasion duly authorized in accordance
with Section 1, the balance in the Fund shall he rec!uired to be
restored to such amount from the first moneys available for such
purpose, such moneys and the availabi]t' thereof to be determined
by the Finance Director.
Section 3. Effective Date of Resolution. This resolution .
shall take effect from and after its passage and adoption.
PASSED AND ADOPTED t
by the following vote:
ATTEST:
AYES: Councilmen Di
NOES : None.
ABSENT: None.
1st day of June 3.932,
, Gorman, Sherratt, Stone, and President Corica
By
CITY OF ALAMEDA RESOLUTION NO. 9762
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALAMEDA
ESTABLISHING RESTRICTIONS UPON USE OF CASH RESERVE
FUND OF CITY
WHEREAS, the City of Alameda (the "City") has accumulated
a Cash Reserve Fund (the "Fund") for the payment of ordinary
operating expenses of the City; and
WHEREAS, the City Council is concerned that reasonal,le
restrictions be established to ensure the integrity and long-
term usefulness of the Fund;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF ALAMEDA as follows:
Section 1. Restrictions on Invasion ofFund. The Fuld,
including earnings derived from the investment thereof, may )(-2
invaded from time to time for the purpose of paying operatil:j
expenses of the City; provided, however, that no such invasic)n
shall be authorized or made by any person if such invasion would
cause the balance in the Fund to fall below $1,666,882, unles
such invasion shall have been previously authorized by resolution
adopted by a majority of the members of this City Council. The
portion of the Fund so restricted shall be accounted for as a
separate account or subaccount within the Fund.
Section 2. Reimbursement of Fund. In the event that the
balance in the Fund shall at any time f11 below the amount of
$1,66,5,822 as a result of an invasion duly authorized in accordance
with Section 1, the balance in the Fund shall be required to he
.restored to such amount from the first moneys available for suet
purpose, such moneys and the availability thereof to be aetermined
by the Finance Director.
Section 3. Effective Date of Resolution. This resoll7tion
sha.1 take effect from and after its passage and adoption.
PASSED AND ADOPTED this ist
day of June
_982,
by the following vote
2"-kYES: Councilmen Diament, Gorman, Sherratt, Stone -and Presideot Coriea
None.
<
ABSENT® None.
13v
ATTEST:
COR/CP:
mayor