HomeMy WebLinkAboutResolution No. 1981-80 _
MICROFILMED 1-18-83
RESOLUTION NO. 81-80
A RESOLUTION ESTABLISHING THE USE OF FUNDS FOR THE SEWER
PLANT EXPANSION; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Cape Canaveral is currently in the process
of expanding its Sanitary Sewer Plant; and
WHEREAS, the City has issued Notes and received monies for those
9Notes, and
WHEREAS, the City, which is to invest those funds and insure
that the money earned by those invested funds reduce the costs of
the expansion.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City
of Cape Canaveral, as follows:
SECTION 1. All monies generated by the investment of $2,000,000.00
received from the Sanitary Sewer Plant Expansion Anticipation Notes
shall be used solely for the Plant Expansion and shall not be used in
any way to reduce operating expenses.
SECTION 2. Th Revenues so generated shall be kept exclusively
.
•
in one of the Plant Expansion Accounts.
SECTION 3. This Resolution shall take effect immediately upon
its adoption.
ADOPTED BY the City Council of the City of Cape Canaveral, Florida,
this
15 day of December , 1981
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