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
,
,
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Dan Wi Ide, Mayor