HomeMy WebLinkAboutCity Council - 1629 RESOLUTION No. 1629
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF HUNTINGTON BEACH- AUTHORIZING
THE LOAN AND TRANSFER OF FUNDS FROM THE
GENERAL FUND TO THE WATER DEPARTMENT
FUND OF THE CITY OF HUNTINGTON BEACH.
WHEREAS, the City of Huntington Beach has entered into
an Agreement for the purpose of securing 'water capacity to
the City of Huntington Beach in the ,proposed East Orange
County Feeder No. 2 to the extent of five cubic second feet
from the Orange County Municipal Water District , pursuant
to Resolution No. 1576 of the City of Huntington Beach; and
WHEREAS, according to the terms of that Agreement, it
is necessary that $502, 000 be paid by the City of Huntington
Beach to the Water Department Fund of the City of Huntington
Beach, and
WHEREAS, it is the intent of the City Council that
this transfer be a loan from the General Fund to the Water
Department Fund; and
WHEREAS, it is the intent of the City Council that the
money so paid, be repaid from the Water Department Fund to
the General Fund of the City of Huntington Beach out of any
one or all of the three following sources :
(a) Monies from City Revenue Bonds,
(b) Monies from General Obligation Bonds,
(c) In the elent no bonds are voted by the people,
the repayment shall be made from the Water Department
Fund to the General Fund out of earnings of the Water De-
partment of the City of Huntington Beach.
1.
Res. No. 1629
NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Huntington Beach that the sum of $502,000 be
transferred, as a loan, from the General Fund to the Water
Department Fund of the City of Huntington Beach for the pur-
pose of the payment to the Orange County Municipal Water
District called for under that agreement between City of Hunt-
ington Beach and Orange County Municipal Water District, in
which Agreement, City of Huntington Beach is to receive
capacity in the proposed East Orange County Feeder No. 2 to
the extent of five cubic second feet, pursuant to Resolution
No. 1576 of the City of Huntington Beach,
BE IT FURTHER RESOLVED by the City Council that this
loan of $502,000 be repaid by the Water Department Fund to
the General Fund of the City of Huntington Beach from one
of the following sources : (a) Monies from City Revenue Bonds,
(b) Monies from General Obligation Bonds, and (c) In the
event no bonds are voted by the People, repayment shall be
made from the Water Department Fund to the General Fund of the
City of Huntington Beach out of earnings of the Water Depart-
ment of the City of Huntington Beach.
PASSED AND ADOPTED by the City Council of the City of
Huntington Beach,California, this 23rd day of July
1962.
ATTEST: Mayor
Paul C. Jones
City Clerk
By,' '
Deputy
2.
Pies• No 1629
STATE OF CALIFORNIA )
County of Orange ) ss
City of Huntington Beach )
I, PAUL C. JONES the dulyelected qualified
, q and
acting City Clerk of the City of Huntington Beach, and ex-
officio Clerk of the City Council of said City, do hereby
certify that the whole number of members of the City Council
of the City of Huntington Beach is five; that the foregoing
resolution was passed and adopted by the affirmative vote
of more than a majority of all the members of said City
Council at a regular meeting thereof held on the 23rd day
Of July ,1962, by the following vote:
AYES: Councilmen:
Wells , Gisler, Stewart, Welch, Lambert
NOES: Councilmen:
None
ABSENT: Councilmen:
None
Paul C. Jones
City Clerk and ex-officio Clerk of the City
Council of the City of Huntington Beach,
California
By ZIL��L
Deputy
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