9/15/1959 - Laserfiche WebLink

Home Browse Search

WHEREAS, there would remain in said bond account the sum of $321y053.00 after reserving funds for the payment of the E. M. NETTO contract and the purchase of the equipment; and, WHEREAS, It is deemed advisable by the Trustees that the sum of $300,000.00 from said bond account be invested in United States Treasury Securities, and the sum of $21,053.00 be held in an open account with The Indian River Citrus Bank as a reserve account; Now, therefore, BE IT RESOLVED by the Board of County Commissioners of Indian River County, Florida, as follows: Section 1. That $100,000.00 of said bond account be invested in United States Treasury Bonds with maturity date of September 15, 1961, and that $200,000.00 of said bond funds be invested in United States Treasury Bonds with maturity date of November 15, 1961. Section 2. That the $50,000.00 reserved for the purchase of equipment be invested in United States Treasury Bonds with maturity date of March 10, 1960 Section 3. That such portion of said bond account reserved for the payment of the K': M. NETTO contract, which is not needed immediately for the payment on such contract, be p placed with The Indian River Citrus Bank of Vero Beach, Florida, on ninety day and six month time deposit in such amounts as may be determined by the Chairman and Clerk of this Board. Section 4. That the remainder of said account which will be in an amount slightly in excess of $20,000.00 be deposited with The Indian River Citrus in an open account. Section 5. That the Chairman and Clerk of this Board be and they are herewith authorized and directed to do any and all things necessary in order to carry out the purposes and intent of this Resolution. Section 6. That The Indian River Citrus Bank of Vero Beach, -Florida, will be retained to purchase United States Treasury Securities as hereinabove authorized and recommended, and that the bank for such service be paid a brokerage fee 1/32% of the amount invested. Section 7. That the accounts with The Indian River Citrus Bank as hereinabhve authorized and recommended be secured as required by law, and that The Indian River Citrus hold said United Stated Treasury securities in safekeeping for the County of Indian River and issue therefor the customary safekeeping receipt. ------------------------------------------------------ The following Bonds were approved upon Motion made by Commissioner McCullers, seconded- by econded by Commissioner Hamilton and unanimously carried and the Clerk was further directed to send said Bonds to the Governor. Earl G. Thatcher, Secretary -Treasurer of the Hospital Board of Trustees in the amount of $10,000.00 with Fidelity and Casualty Company of New York as surety. Paul Goodridge as President of the Hospital Board of Trustees in the amount of $2,000.00 with Fidelity & Casualty Company of New York as surety. 0 1 1 0 1 1 1 0