HomeMy WebLinkAboutresolution.council.028-87 RESOLUTION NO. ~ (Series of 1987)
A RESOLUTION REGARDING ACCEPTANCE OF CONDITIONAL GIFT FROM THE
PITKIN COUNTY PARKS ASSOCIATION
WHEREAS, as an inducement to the City to purchase that open
space property, commonly known as the "Zoline Parcel", the Pitkin
County Parks Association did offer to loan $100,000.00 to the
City, on the terms and conditions set forth in Ordinance No. 39
(Series of 1987); and
WHEREAS, after the enactment of the aforesaid ordinance, the
Pitkin County Parks Association has informed the City that it
would be more advantageous to conditionally transfer funds
currently held in "Kemper Funds - Investment Portfolio Government
Funds", on the condition that the City accept for itself the
interest and dividends generated from said fund only for a period
of five years, provided that the City does not change the prin-
cipal of said funds in any respect; and
WHEREAS, the City Council does desire to accept the Pitkin
County Parks Association Kemper Funds - Investment Portfolio
Government Fund, on the terms and conditions hereinbelow pro-
vided.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO:
Section 1
The City Council does hereby accept from the Pitkin County
Parks Association in fulfillment of its offer to assist in the
funding of the Zoline Parcel, those Kemper Funds - Investment
Portfolio Government Fund, reflected on the statement appended
hereto and incorporated herein, subject to the following condi-
tions:
1. The City shall return the principal amount of said
funds to the Pitkin County Parks Association on or before
November 1, 1992.
2. The City may receive for itself the earned interest
and dividends generated from said fund.
3. The City shall not make any changes or alterations to
the principal of said funds.
Dated: ~'~~ ~ / , 1987.
William L. Stirring, May~r
I, Kathryn S. Koch, duly appointed and acting City Clerk do
certify that the foregoing is a true and accurate copy of that
resolution adopted by the City Council of the City of Aspen,
Colorado, at a meeting held ~'~'~-c~/i~_~..~t: ~ , 1987.
Kathryn ~Koch, City Clerk
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