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HomeMy WebLinkAboutResolution-1988-1088 RESOLUTION NO. __~Q~~____ Series of 1988 T I HE: RESOLUTION AUTHORIZING THE CITY TREASURER TO OPEN NEW BANK ACCOUNTS FOR THE PURPOSES DESCRIBED BELOW. WHEREAS, the City Counci I of the City of Wheat Ridge approved the issuance of Special Assessment Bonds for Special Improvement District No. 1987-1, and a separate bank account must be establ ished from which the Principal and Interest payments are to be made over the next ten years; and WHEREAS, the proceeds from the issuance of Special Assessment Bonds for Special Improvement District No. 1987-1, authorized by City Counci I in the amount of $1,250,000, requires investment by the City Treasurer at the highest rates obtainable, separate from other bank accounts; and WHEREAS, the Richards/Hart Estate users are remitting monies to be used specifically for the purpose of refurbishing the Estate with period pieces of furniture, and a separate bank account needs to be establ ished to segregate these monies from other funds, which wi I I be budgeted for expenditure in 1989; and WHEREAS, Counci I Bi I I No. 343, which created an Enhanced Sales Tax Incentive Program IESTIPI, requires a separate escrow account for purposes of segregating any enhanced sales taxes subject to sharing, which wi I I involve creating a new bank account. NOW, THEREFORE BE IT RESOLVED by the City Counci I of the City of Wheat Ridge, that the City Treasurer by authorized to open new bank accounts for the purposes described above. DONE AND RESOLVED on this __J]~~____ day of __~~_______, 1988. ATTEST: ~ ( /. ~L~ __~"<L*__~'L<-?'-~. ______ Wanda Sang, City lerk , , ----~~~~~--- Dan Wi Ide, Mayor