183V->"
RESOLUTION NO.'C _;;•'
A RESOLUTION OF THE COUNCIL OF THE CITY OF MOSES LAKE,
WASHINGTON,AUTHORIZING,REGULATING,AND PROVIDING FUNDS FOR THE
NATURAL GAS DEPARTMENT OF THE CITY TO ENGAGE IN THE BUSINESS OF
SELLING AND INSTALLING GAS CONVERSION BURNERS.
WHEREAS,the City of Moses Lake has issued and sold bonds
in the amount of $1,200,000 and is engaged in the distribution
of natural gas service,and it is in the interest of the people
of Moses Lake to operate at a profit so that interest on the bonds
can be paid and the bonds retired;and
WHEREAS,the installers and dealers in gas burners have
declared that they are not interested in actively pursuing this
business and have recommended to the City that the Gas Department
assume this activity and engage in the sale and installation of
Gas Conversion burners;and
WHEREAS,legal counsel for the Bond buyers declare that
funds resulting from the sale of Gas Bonds and revenue resulting
from the sale of gas cannot be legally used for the purpose of
purchasing,selling,installing,financing and servicing of gas
conversion burners;
NOW,THEREFORE,BE IT RESOLVED AS FOLLOWS:
1.The Natural Gas Department of the City of Moses
Lake is hereby authorized to engage in the business of
purchasing,selling,installing and servicing gas con
version burners and controls,piping,etc.incidental
thereto,to customers served from its gas distribution
system.
2.The City Treasurer of Moses Lake is hereby author-
ized to invest funds of the City as directed by the
Finance Committee in amounts,not to exceed $5,000.00,
to a fund which is hereby created and known as the Mer
chandising Fund,such funds to be repaid with interest
from proceeds accruing to the Merchandising Fund.
3.The City Comptroller of Moses Lake is hereby author
ized to arrange for the financing of delayed payment sales,
the proceeds from the sales of equipment and service to
be credited to the Merchanding Fund.
4.At such time as this merchandising activity is dis
continued by the Natural Gas Department,any moneys remain
ing in the Merchandising Fund after the payment of all
obligations resulting from this activity,shall be trans
ferred to the Gas Revenue Fund.
Passed by the Council of the City of Moses Lake and
approved by its Mayor at a regular meeting of said Council held
this _o^/day of 'TL^^Wy ^t A,,1959.
CITY OF MOSES LAKE,WASHINGTON
By I
ATTEST:Mayor
City Clerk
/APPROVED AS TO FORM:
CITY ATTORNEY
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