06-27-60AR~ ~ OLUTI ON
WHEREAS the CITY OF BOYNTON BEACH, FLORIDA,
presently has certain municipal funds deposited in checking
accounts in one of its City depositories, and
WHEREAS, it is considered to the best interests of
the City that said funds be transferred to Time Deposits in
order to realize~ interest income on said funds;
NOW, THEREFORE, BE IT RESOLVED, by the City Council
of the City of Boynton Beach, Florida, as follows:
1. That the following municipal funds, presently
on deposit in checking accounts in the BOYNTON HEACH STATE BANK,
to wit:
Boynton Beach Special Reserve Fund --- $ 15,000.00
Boynton Beach 1949 Special Reserve Fund 1,500.00
be transferred to Time Deposit Accounts in the BOYNTON BEACH ST~
BANK for a time period of not less than six months duration.
2. That the City Finance Director is hereby author-
ized to take the necessary steps to carry into effect the pro-
cedure and purposes set forth in Paragraph 1 hereinabove.
PASSED AND ADOPTED this ~'7 day of ~--~,._~,
CITY OF .~OY~N BEACH, FLORIDA.
(CORPORATE SEAL) By ~~/~'.~7. / ~
O~nci lman ~
-' 7 . ~ Councilman ~
~T~ST
City Clerk~ "~.~. ~'~~..-- - ~.'/~ ~~~°~nci~
~ Councilman
A. D. 1960.