R66-OORESOLUTION NO. 66-00
WHEREAS, the City Council of the CITY OF BOYNTON BEACH,
FLORIDA, deems it essential to good and sound business practice
that a municipal working capital fund be established for the
purpose of providing adequate and available funds for replacement
of depreciated or obsolete capital items owned by the City on an
orderly and projected basis;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF BOYNTON BEACH, FLORIDA:
1. THAT FRANCIS T. KAIN, City M~nager, be hereby authorized
.and directed to establish with the BOYlqTON BEACH FIRST NATIONAL
BANK, BOYNTON BEACH~ FLORIDA, a specific municipal account to be
designated as the "CITY OF BOYNTON BEACH WORKING CAPITAL FUND
ACCOUNT" and that deposits to and withdrawals from said account
shall be made pursuant to specific direction of the City Council
by budgetary allocation or otherwise. Said fund shall be estab-
lished with an initial deposit of $7,500.00 to be transferred
from existing unappropriated surplus in the CITY OF BOYNTON BEACH
GENERAL FUND ACCOUNT.
2. THAT all checks, vouchers or other documents connected
with or pertaining to said account shall be drawn by R. B. CARRIER,
City Treasurer, or in her absence by O. R. WALLACE, City Finance
Director, and countersigned by F. T. KAIN, City Manager, or in
his absence by WALTER A. MADSEN, Mayor, or in the absence of both,
by FRANK MC COY, JR., Vice Mayor.
PASSED AND ADOPTED this 5th day of September, A. D. 1966.
(CORP. SEAL)
City~;~ l~rk
CITY, OF BO~YNTON BEACH, FLORIDA
Councilman