HomeMy WebLinkAbout1981-118-08/18/1981-ACCEPTING AN OFFER ON PARKLAND FEE REVENUE BONDS RESOLUTION 81-118
OF THE COUNCIL OF THE CITY OF FORT COLLINS
BEING A RESOLUTION ACCEPTING AN OFFER ON PARKLAND
FEE REVENUE BONDS
WHEREAS, on August 4, 1981, the Council of the City of Fort Collins
directed the staff to proceed with the purchase of a neighborhood park and
to finance said purchase with Parkland Fee Revenue Bonds, and
WHEREAS, with Boettcher & Co acting as agents for the City, an offer
has been made for the purchase of bonds, the terms of said offer being set
out more fully below, and
WHEREAS, the Council of the City of Fort Collins believes it to be in
the best interests of the residents of the City of Fort Collins to accept
the offer which has been negotiated by Boettcher & Co
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that that offer as negotiated by Boettcher & Co which includes the
following terms, to-wit
1 Average interest rate of 10 6%,
2 Reserve requirement of $50,000 ,
3 5 year term ,
be, and it hereby is, accepted
Passed and adopted by the Council of the City of Fort Collins at a
regular meeting held this 18th day of August 1981
Assistant Mayor
ATTEST
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City C1erK