HomeMy WebLinkAboutCouncil Resolution 1257RESOLUTION NO. 12 5 7
A RESOLUTION ESTABLISHING A RESERVE FUND
THE CITY COUNCIL OF THE CITY OF CENTRAL POINT, OREGON, HEREBY RESOLVES AS
FOLLOWS:
WHEREAS, under Oregon Local Budget Law, the City of Central Point may by resolution establish a
Reserve Fund as a way to accumulate monies to pay for any service, project, property, or equipment
that the City may legally perform or acquire; and
WHEREAS, monies placed in the Reserve Fund must be for a specific purpose may only be used for
that purpose; and,
WHEREAS, the Reserve Fund must be reviewed by the,governing body at least every ten years to
determine whether to continue or abolish the Fund;
NOW, THEREFORE, the Mayor and Council do hereby establish a Reserve Fund effective Julys, zoso
for a period often years.
Passed by the Council and signed by me in authentication of its passage this day of May,
zoio..
1
Hank Williams, Mayor
Deanna Casey, City
~l
Approved by me this ~ day of May, 2oio.
C
Hank Williams, Mayor