HomeMy WebLinkAboutResolution-1988-1111
RESOLUT I ON NO. 1-1.1o.L______
S,"ries of 1988
TITLE: A RESOLUTION AUTHORIZING THE CREATION OF THE CITY OF WHEAT
RIDGE, COLORADO, SALES TAX REVENUE BOND CAPITAL PROJECT
FUND, DEBT SERVICE FUND, AND RESERVE FUND.
WHEREAS, the City Counci I passed Ordinance No. 767 on June
27, 1988, authorizing issuanco of Sales Tax Revenue Bonds; and
WHEREAS, proceeds from revenue bonds must be accounted for
in a "Capital Projects Fund": and
WHEREAS, the Capital
"Capital Projects Fund" for
Improvement Fund wi I I be renamed
fiscal year 1989 and thereafter;
t- h e
and
WHEREAS, proper accounting procedure requlros payment for
these bonds to be accounted for in a separate fund celled iJ "Debt
S 8 r Iv i c;:; Fun d 'I; d n cl
WHEREAS, a certain amount of the bond proceeds must be
restricted for use in a "Reserve Fund";
NOW, THEREFORE BE IT RESOLVED by the City Counci I of the
City of Wheat Ridge, that three (3) new accounting funds be
created in conjuncticn with the newly issued Sales Tax Revenue
Bonds and be named the City of Wheat Ridge, Colorado, Sales Tax
Revenue 60nd Capital Project Fund, Debt Service Fund, and Reserve
Fund.
DONE AND RESOLVED this
26th
day of _~~~~~~e5____, 1988.
~j'-.J~'<J
-..-- _.-...~---_., _._.- ----------------
Dan Wi Ide, fv1ayor
ATTEST:
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~-. Wanda Sang, City Clerk