HomeMy WebLinkAbout05-09-1951 Regular MeetingSTATE OF ALABAMA
Y
CONTY OF BALDWIN.
The Waterworks and Sewerage Board of the City of Fairhope
met in regular session at the City Hall on Wednesday May 9,
1951 with the following members present: R. Roy Moyers,
Chairman, L. A. Berglin Sr., Arthur Mannich, City Supt. C.
B. Niemeyer, and Marie Moore.
The minutes of the previous regular meeting were read and
approved as read.
On motion b-,y Mr. Berglin seconded
bills were mpproved for payment:
Water and Sewe :
Turner Supply Co.
Wittichen Chemical Co.
Neptune Meter Co.
Western Auto
McKean PAnt & Hadwe.
The Trader
Fairhope Hdwe. & Supply
Fairhope Serviee Center
Noland Company
Standard Equipment Co.
Ponder Co.
0. Forster & Sons
Carl L. Bloxham, Agancy
Pay Roll
George 'yson
by Mr. Mannich the following
$ 67.93
52.88
98.70
7.91
lo.65
14.80
9.50
6.60
5.71
1b8.27
1.68
23.10
7.10
414.45
150.00
Motion by Mr. Mannich seconded by Mr. Berglin thnt the following
Resolution by adopted:
RESOLUTION OF THE WATER AND SEWER BOARD
OF THE CITY OF FAIRHOPEI ALABAMA
WHEREAS, moneys are deposited monthly in the Reserve
Fund of the Trust Department of the Merchants National
Bank of Mobile, Alabama for the purpose of paying out-
standing Water and Sewer Revenue Bonds and Interest in
case of default, and
WHEREAS, in accordance with Article V, Section VIII
of the Indenture of the Water and Sewer Board of the City
of Fairhope and the Merchants National Bank of Mobile as
Trustee, dated July 1, 1950, so long as the board shall
not be in default, it may at any time from time to time
at its option cause any or all of the moneys in the reserve
fund which the board may determine shall not be needed
during the then ensuing six calendar months for the purpose
for which said fund is created, to be invested in any
securities which are direct general obligation of the United
States of America or which are unconditionally guaranteed
as to both principal and interest by the United States of
America. In the event of any such investment, such
securities together with all income derived therefrom shall
become a part of the fund from which moneys were used to
make such investment, and shall be held by the depository
therefor to the same extent as if they were moneys on
deposit in such fund.
NOW THEREFORE BE IT RESOLVED by the Water and Sewer
Board of the City of Fairhope, Alabama that the Merchants
National Dank of Mobile as Trustee, l�s authorized to
invest accumulated funds in multiples of $1 000 Series G,
United States Saving Bonds, Interest Rate
Done at Fairhope,.Alabama, this 17 day of May, 1951.
WATER AND SEWER BOARD OF
THE CITY OF FAIRHOPE
ram./
Attest:
Meeting adjourned in unadjourned session to reconvene May 23,
1951