53RESOLUTION NO.53
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOSES
LAlQS,WASHINGTON,DIRECTING THE ESTABLISHMENT OF LOCAL IMPROVEMENT
DISTRICT NO.2 GUARAITTY FUND AND SETTING FORTH THE REASONS THEREFOR:
WHEREAS,THE CITY OF MOSES LAKE,7/ASIIINGTON,IS IN THE
PROCESS OF CREATING LOCAL IMPROVEMENT DISTRICT NO.2 AND IT IS
NECESSARY TO SET UP A GUARANTY FUND,THE FOLLOWING RESOLUTION IS
PASSED:
NOW,THEREFORE,be it resolved by the City Council that
upon the creation of Local Improvement District No. 2 the City
Treasurer is hereby authorized and ordered to set up a special fund
to be known as L.I.D.NO.2 Guaranty Fund,and the City Council re
solves that upon passage of the 1950 Budget that Two Thousand Five
Hundred and no/100 ($2,500.00)Dollars be placed in L.I.D.No. 2
Guaranty Fund, and each year thereafter that five (5^)per cent of
the amount of the outstanding L.I.D.bonds be set aside in the
Budget under said fund.
PASSED AND ADOPTED by the City of Moses Lake,Washington,
this 13th day of September,1949.'^1/7 *
Attest:
CLERK