HomeMy WebLinkAboutresolution.council.007-62RESOLUTION
WHEREAS, Ordinance No. 1 (Series of 1958) and Ordinance
No. 2 (Series of 1960) in connection with general obligation bonds of
the City provided that the City of Aspen would accumulate a reserve
for maintenance, repair and 8~ortization of debt,
WHEREAS, the City of Aspen has not been able to accumulate
from water revenues an adequate amount required under said Ordinances,
WHEREAS the Electric Reserve Acco%mt has accumulated the sum
of $10,600 that is not necessary to meet the obligation of the City
of Aspen to holders of electric revenue bonds and that said amount can
be transferred to the Water Bond Reserve Account to meet the obliga-
tion of the City of Aspen to holders of bonds authorized by said
Ordinance No. 1 (Series of 1958) and Ordinance No. 2 (Series of 1960),
NOW, THEREFORE, BE IT RESOLVED by the City Council for the
City of Aspen:
1. That there is and shall be transferred from the Electric
Reserve Account to the Water Bond Reserve Account the sum of $10,600.
2. That the City Clerk and the City Treasurer shall forth-
with effect such transfer and make a report thereof to the City
Council.
CERTIFICATE
I, Dorothy Hoffmann, the duly elected City Clerk for the
City of Aspen, Colorado, do hereby certify the foregoing is a true
and correct copy of a Resolution adopted by the City Council at its
regular meeting held June3~, 1962.
Dated at Aspen, Colorado, this /~/ day of June, 1962.
/ CLEP
STEWART & CLARK
June 5, 1962
Dan ltandy
G. P. A,
Glenvood Springs, Colorado
Dear Den:
At ~he last regular meeting of the City Council on June 4, 1962,
lution was passed providing for the transfer
a Peso . ~--J- -- -he water reserve. It is my recol-
the electric reserve ~u~.~ .~v.. ........- ~rith the water reserve
lectton t ....... ~----~ --.ill mak~ arrangements ~or
-= nE January 1, 1962. The ~cy ~,~-- -: - --- --~ -[ the
~e-accu~ula~im O[ the proper amount so that as o~
year, we ~r~11 be current.
You will find enclosed a copy of the Resolution passed by the
Council.
Sincerely,
CBS:R
Enclosure
CC: Mrs. Dorothy Hoffmann
Clinton B. Stewart
STEWART & CLARK
June 5, 1962
Mrs. Dorothy Hoffmann
City Clerk
P. O. Box 349
Aspen, Colorado
Dear Dorothy:
You will find enclosed herewith a copy of a Resolution providing
for the transfer of reserve funds from the electric to the water
fund. At the next meeting of the Council, you should bring with you
a copy of the Water Ordinances that are involved so that the Council
can determine the appropriate amount to be accumulated in the water
reserve fund in order that we be currant as of the end of this year.
Sincerely,
C~.~S tewart
CBS:R
Enclosure