HomeMy WebLinkAboutReso 2520-1957RESOLUTION NO. 2520
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SOUTH SAN FRANCISCO AUTHORIZING T~IE EXECUTION ON
ITS BEHALF OF AN AGREEMENT ENTITLED, "AGREEMENT
COMPROMISING DISPUTE BETWEEN THE SOUTH SAN FRANCISCO
UNIFIED SCHOOL DISTRICT AND THE CITY OF SOUTH
SAN FRANCISCO"
Be it resolved as follows:
1. That the provisions of the above entitled agreement are herewith ap-
proved by the City Council and that G. J. Rozzi, Mayor of the City of South San
Francisco, is authorized to execute the same on behalf of the City of South San
Francisco.
2. That $126,000 is herewith appropriated for.the purposes set forth in
paragraph 3 of said agreement and that the City Treasurer is hereby authorized to
place such funds with a title company, bank, trust company or other financial
institution through'July l, 1958, under such circu~stances that the State of Calif-
ornia will receive a letter from such company or institution as set forth in said
paragraph of such agreement, provided that in the placement of such funds preference
shall be given to any such company or institution willing to pay interest under
such circumstances, and as among different companies or institutions contacted by
the Treasurer offering interest under such circu~stances to that company or instit-
ution offering the highest rate of interest for the use of such funds during such
period.
I hereby certify that the foregoing resolution was regularly
introduced and adopted by the City Council of the City of South San
Francisco at a regular meeting held on the 3rd day of September, 1957,
by the following vote:
AYES: Councilmen G. J. Rozzi, Andrew Rocca, Emilio Cortesi,
Francis Lucchio and Leo J. Ryan
NOES: None
ABSENT: None
ATTEST:
Arthur A. Rodondi
City Clerk