HomeMy WebLinkAboutResolution 493 Purchase of Municipally owned Shares of Stock
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COM~ISSION RESOLUTION NO.
493
I\ m~ SO LU '1' 101': OI" 'rT:-,"!': CITY' COE:,'ISSIOH OF
TEl;; GITY- OF BOZ::':I,'!l\1'-:, Iv! C)1;'l'AFA ,
pnO',.'IDING
l<\)R TIT': PUnCEUm BY TI-TF: r,,1JNICIi'!\LLY OVH;rmBOZ~~]'.'Ar CI'I'Y.;J\'r~H 'i'lORKS Of<' 250 SH!\F~ES
01" TI-P-:; STOCK OP SPAIN-PERRIS DITCH COMPANY AC:;~1.}II\E::-) AlE) O':l1nm BY 'J'EE CITY OF
BOZ"2:r,~N IN 11'3 PURCHASE 01<' LAN0 I;'OR AIRt'OR'l' PUHPOSi~S.
Preamble
','Jhereas, The City of Bozeman in connection with
its purchase of land for airport
purposes also acquired 250 sbares of capital
stoc~ of Spaln-t<'erris
Ditch vompany a
1
corporation, wbich said stock has a par value
of ,~lO.OO a silare aDd is reasonably
worth
its said par value;
and
Vvhereas, 'l'he Boz emsm 8i t;T Wa ter
ilorks is a municipally owned utili ty by means of
which all water for city purposes is acquired
and ovmod and the water represented by
snid
250 shares of stock naturally and conveniently should become
[l part of the
assets of
Bozeman City Water Wlrks and us ed and adr:dnis tered
in connee tion with and a part of tb.e
oper8tion of the
BozeD8.D City ~[lter Works.
NOVI, Therefore, in consideration of th':3
premises,
BE IT' RESOLVE') BY TiiE C01,;l1\~ISSION OF TH1~ C I'I'\ OF FjOZEliIAN:
See tion 1. Tha t sa id 250 shares of
the capital stock of' Spain-Ferris -'.Jitch Company
owned by 'The City of Bozeman be
purchased at its par vahle,
'I
namely,
~lO.OO ?er share or
a total of ~2500.00 bv Bozeman Citv Water Works.
~ ~
See tioD 2. That claim in proper and usual form shall be made
onlJehalf of the .Ai
rpor t
Pund of The City of Bozem8n a.galnst said
City's iia tor li'und,
lJeing the opera tine:: flmd of
Bozeman City Water Works, nnd
tl-p1t upon a1Jllit and approval of' su.ch claim warrant shall be
I
drawn against saId Wator Fund in favor of
the /U.rport Pund and sa:,d Airport F\:md shall
be crodi ted wi tl:; the
amount of sald purchase price,
to -w it, :'(:)500 00.
nd tLis resolu -
,('-' . ,
tion sl,a 11 be tl1e
authority of the c: it:" 1,'lana[; er ,
Cl erk of the Cl ty 0omr1lss I'm and Dir-
ector of Finance of The City of Bozeman to
do all Ul.in?; s
necessar:y to affect the
plu'pose
an~l intent of this resolution.
Passed and adoptec1 by the ,.,. " ,. f '1'1 ' C. t ~ ,,,, F
Eontana,
a t a rOC1Jlar
vommlc) SJ.on 0 1e l Y oJ. uOZOJ7:.8n,
meet;ng thereof hold
on the 7 th da:T of ri:arch,
1941.
~~c-
!"c :ro r
State of !\;ontana
)
) ss
~ounty of 3allstin )
I, L. I"' Sf~adoan ,
Cle rk of Ule Comrni s ,'?J on of '1'he
C 1 t: of Bo2'. e!'lan :50 hor,b;,T cert.lf:'l
...] .
tha t the forec;o:tng Resolution was published
b'J' t i tl e and
r::U:llber in the 15ozem_' n Daily
Chronicle, a newspaper of' r,enel'sl cirC11lo. tion prin ted and
pub llshacl il
said in the
I.
issne of :,:8rch 11 th,
1941, and
t11;:, t dlJC proof is on file:;
in my office.
Dn ted t::,is 12th day of March, lD41.
M~ -
Cl",rk 0 the ':"'-1 t:c vo.runission