HomeMy WebLinkAboutResolution-1988-1112
RESOLUTION NO.
Series of
1112
_.c_"._ _".______
1988
TITLE: RESOLUTION AUTHORIZING THE CITY TREASURER TO OPEN NEW
BANK ACCOUNTS FOR THE PURPOSES DESCRIBED BELOW.
WHEREAS, the City Councl I of the City of Wheat Ridge
approved the issuance of Sales Tax Revenue Bonds and passed
Ordinance No. 767 on June 27, 1988; and
VIH ERE AS, s e par at", ban k a c c 0 un t s m us t bee s tab lis h e d for
the proceeds from the sale of the bonds, rGquirin~ investme~t by
the City Treasurer at the hi~hGst rates obtainable, in the newly
croc,tsd "Cap i Lj I Project Fund"; and
WHEREAS, a separate bank account must be established from
which the Principal an~ Interest payments are to be made over the
next ten (10) years, for the Sales Tax Revenue Bonds; and
WHEREAS, a separate bank account must be establ ished
which the funds rnust be restricted for use in the "Reserve Fund",
and mu~t DB se~regated far purposes describer in the Ordinance;
NOW, THEREFORE BE IT RESOLVED by the City Counei I of the
City of Wheat Ridge, that the City Treasurer be authorized to
open new bank accounts for the purposes described above.
DON E A I~ D RES 0 L V EDt his _n.t.h. d" Y 0 f __~e"'pj;~!!ll2..eI_____ , 1 9 8 8 .
" I
_______L~q':::_">.:~'Y..~!!~'_ _u_ ___
Dan W i I d '" ~1 a y 0 r
ATTEST:
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\ Wando Sang, City Clark