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HomeMy WebLinkAboutResolution-1988-1094 RESOLUTION NO. 1094 SERIES OF 1988 TITLE: A RESOLUTION APPROVING, AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE, AN AGREEMENT BETWEEN THE CITY OF WHEAT RIDGE, FIRSTBANK OF \~HEAT RIDGE, AND COUGHLIN & COMPANY, INC., RELATING TO THE ISSUANCE OF $2,990,000.00 OF SALES TAX REVENUE BONDS SERIES 1988. WHEREAS, the City is considering the adoption of an ordinance whereby it would issue $2,990,000.00 in aggregate principal amount of its Sales Tax Revenue Bonds Series 1988; WHEREAS, as a portion of the transaction necessary to implement said sales tax revenue bond issue, it is necessary for the City to enter into an Agreement between FirstBank af \'Iheat Ridge, Coughlin & Company, Inc. and the City whereby securities will be purchased and held by FirstBank of \'Jheat Ridge, and thereafter sold to the City at the conclusion of a referendum period applicable to ordinances enacted by the City, or, if the ordinance in question becomes subject to a referendum or if the purchase may not otherwise be completed by the City, that said securities will be purchased by Coughlin & Company, Inc.; WHEREAS, the attached Agreement specifies the duties and the obligations agreed upon by and between the parties and which are necessary to implement said transaction. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat Ridge, that: 1. The Agreement attached hereto between FirstBank of Wheat Ridge, Coughlin & Company, Inc., and the City of Wheat Ridge, is hereby approved. 2. The Mayor and City Clerk are hereby authorized to execute said Agreement. DONE AND RESOLVED this 27th day of June, 1988. ~r5._^/vi,J..u!.- ~J Dan Wilde, Mayor ATTEST: I i t I "0-_ ---'" ? I /1 / . y' W~~da' s~n~:'tcci~yci~Y L I ; ,