HomeMy WebLinkAboutresolution.council.009-80RECORD OF PROCEEDINGS
RESOLUTION NO. 9
(Series of 1980-)-
A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF $4,000,000
GENERAL OBLIGATION HOUSING BONDS FOR WATER PLANT HOUSING
PROJECT.
WHEREAS, The City of Aspen submitted the question of issuing $4,000,000
General Obligation Bonds to the electors of the City for the purpose of
constructing employee rental housing on the Water Plant property; and
WHEREAS, it is determined that it is necessary to issue said Bond in an
expeditious manner due to erratic and uncertain circumstances of money and
financial markets; and
WHEREAS, the City deems it necessary and advisable for the promotion of
the public health, welfare, safety, convenience and prosperity of the citizens of
Aspen that the City issue its bonds for the purpose providing funds for the housing
project; and
WHEREAS, the City deems it necessary, appropriate and advisable to
authorize the Finance Director and City Manager to arrange for the sale of such
bonds with final sale approval to be vested with the City.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO:
Section 1
'Fne issuance of up to $4,000,000 General Obligation Housing Bonds is to be
commenced and completed as soon as legally possible.
Section 2
The City Finance Director and City Manager are authorized to implement the
sale of the Bonds for the Water Plant Housing Project.
Section 3
Kirchner, Moore and Company, Denver, Colorado is hereby authorized to
continue their investment banking authorization of the bond sale. Their purchase
of the bonds is to be in cooperation with the Finance Director and City Manager.
The City Council will have final approval as to term, interest rate and other bond
details.
Section 4
The officials and employees of the City be, and hereby are, authorized to
cooperate with the underwriter and are further authorized to take such additional
steps as may be required and necessary in order to cause the City to issue the
Bonds.
/ I{erma~n~Edel by H~Z~ael- ]~ehrendt
Mayor Mayor Pro Tem
foregoing is a true 9(j~d accurate copy of that resolution adopted by the City
(~ou.~c~il of . the . ~City of Aspen, Colorado, at a meeting held
, gso.