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
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