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RESOLUTION NO. 176
BE IT RESOLVED THAT THE COMMON COUNCIL OF THE CITY OF SEWARD upon analysis
of the June 30, 1960 audit report has determined that the surplus amount
of Forty-two Thousand Two Hundred Forty-seven and 76/100 ($42,247.76) Dollars
due from the Sales Tax Fund to the General Fund and which surplus has
accrued over the past several years shall be restricted from being interpreted
as a true asset surplus for the reason that the City Council is of the op~nion
that the Sales Tax Fund will not be able to repay this $42,247.76 in the
foreseeable future. This action is taken so that a more accurate picture of the
assets of the City of Seward will be read from the records and this action is
on the recommendation of the City Auditors.
This Resolution to be in full force and effect upon passage and approval
this 5th day of October, 1960.
Attest:
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Beatrice E. Watts, City Clerk