R-68-17RESOLUTION No. R -68- 17
RESOLUTION TRANSFERRING INTEREST ON SPECIAL
ASSESSMENT FUNDS TO THE GENERAL CORPORATE FUND
WHEREAS the funds remaining in special assessment funds #3 to 84,
are generally the property of unkown bondholders, deceased bondholders,
or others who have not presented their bonds for redemption, and
WHEREAS, the proceeds of interest for four years was added to fund
balances for payment to bondholders, and
WHEREAS, settlement with known bondholders has been made, and
WHEREAS, there is no equitable means of distributing these interest
credits without disturbing previously °completed computations of balances
payable on each bond, now
BE IT RESOLVED that the Village Treasurer be and he is hereby
authorized and directed to transfer any moneys received as interest on
investment of Special Assessment Funds to the General Corporate Fund as
interest income.
\V.• AYES: SIX (6)
NAYS: NONE ( 0)
P13SENT: NONE (0)
PASSED this 20th day of May A,D, 1968.
APPROVED this 20th day of May A,D, 1968.
ATTEST:
� 1
1
I -
Village Clerk
II
i
r
President
RESOLUTION No. R -68- 17
RESOLUTION TRANSFERRING INTEREST ON SPECIAL
ASSESSMENT FUNDS TO THE GENERAL CORPORATE FUND
WHEREAS the funds remaining in special assessment funds #3 to 84,
are generally the property of unkown bondholders, deceased bondholders,
or others who have not presented their bonds for redemption, and
WHEREAS, the proceeds of interest for four years was added to fund
balances for payment to bondholders, and
WHEREAS, settlement with known bondholders has been made, and
WHEREAS, there is no equitable means of distributing these interest
credits without disturbing previously completed computations of balances
payable on each bond, now
BE IT RESOLVED that the Village Treasurer be and he is hereby
authorized and directed to transfer any moneys received as interest on
investment of Special Assessment Funds to the General Corporate Fund as
interest income.
AYES: SIX (6)
NAYS: NONE (0)
ABSENT: NONE (0)
PASSED this 20th day of May A.D. 1968.
APPROVED this 20th day of May A.D. 1968.
ATTEST:
Village Clerk
President �—