HomeMy WebLinkAboutResolution - 091147C - Housing Authority To Remit Excess Revenues - Deposit In Special Housing Reserve - 09/11/1947RES OL UT IOiV
RESOLUTION AUTHORILI&G' ThE HUMING AUT iORITY OF THE CITY OF LUBBOCK TO h. MIT
ERESS REMUES OF KOJECTS TEX-V-41910 AND TEX-VN-41911 TO Ta CITY OF LU1330CK
ME DEWSIT IN THE CITY OF LU3BOC K' S "S&C IAL HOUSING HESWE FUND".
WHIRIM, the Housing Authority of the City of Lubbock, Texas has been
designated as the Agent of the City of Lubbock for the purpose of managing and
operating Veterans' Housing Projects TEN -V-41910 and TEX-VN-41911, and,
WMAS, it is deemed advisable to remit to the City of Lu jock from time
to time, a substantial portion of the excess revenues derived from the operation
of said projects, even though periodical remittances are not required by the
existing contracts between the City of Lubbock and the Government, NOW THMEME,
i3E iT ihSULVt,D BY ThE CITY COI;,11ISSIoiil OF THE CITY OF LMOCK, WAS:
ThAT, the Housing Authority of the City of Lubbock is hereby authorized to
deposit THIRTY-FIVE ThOUSAND 035,000.00) DOLLARS excess money of the Housing
Project at L.A.A. '., in the City of Luibock's "Special Housing; Heserve Fund",
the same being revenues of Tex-V-410IJ and Tex -V11-41911, which are not needed
in the operation of said projects or to cover reimbursaole items due to the City
of Lubbock.
MAT, the dousing Authority of the City of Luobock shall make such payment
to the City of Lubbock's "Special Housing Heserve fund", by check or money order
and shall retain in its files satisfactory evidence of such remittances, and
deposit.
Said housing Authority is further authorized to hereafter quarterly, deposit
all sums of money on hand in excess of TIENTY THOUSAAD (020,000.0J) DOLLS, in
said "Special housing Reserve fund" of the City of Lubbock.
On motion by Commissioner Childress and Seconded by Commissioner Dickey,
the foregoin, resolution was unanimously passed by the City Commission the 11th
day of September, 1947.
YTTIS`1' :
City Secre aPy
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