HomeMy WebLinkAboutbocc.res.025.1979 � � ' 4 i .
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<i PITKIN COUNTY ;
BOARD OF COUNTY COMMISSIONERS '
i
RESOLUTION �+79-�j� �
{
j A RESOLUTION AUTHORIZING THE INVESTMENT OF AIRPORT BOND RESERVES j
g' IN CERTIFICATES OF DEPOSIT ; �
} i
r � .. WHEREAS, Resolutian #77-110, relating to the issuance of Airport Revenue
$
-� Anticipation Warrants, requires that Principal and Interest Reserve and Renewal and
� Replacement accounts be maintained in certain amounts, and that such amounts be used
�
� to make semiannual interest and principal paymerots in the event that there are -
� insufficient Airport operating revenues available for such payments, and �
� WHEREAS, the semiannual payments are due on the first day of April and �
� �
October of each year, and
� WHEREAS, the aforementioned resolution specifically provides for investing
� the reserve funds in certificates of deposit, and, furthermore, requires that the
� bank at which such reserves are invested shall be designated by resolutinn of the
� Board.
NOW, THEREFORE, 6E IT RESOLVED by the Board of County Commissioners of Pitkin �
County, Colorado, that:
, ]. The F�nance Director is authorized to solicit bids for certificates of
� deposit from and to deposit reserve funds with any bank previously or
a subsequently designated by the Board as a general County depository.
�� 2. The certificates of deposit purchased with reserve funds shaTt mature ,�
on the first of April and October so as to be available for payment of
.
� principal and interest if needed. � �
� AdQpted;..this 26th day of February, A.D. 1979.
f �t,'` , `' ,��'`\
� ` �•' „ � '•.'::"• PITKIN COUNTY
ATTEST�� ���� R�y BOARD OF COMMISSIONERS
�•> i:r �� r '�`i�
Q ���r. r By. �- C� A
Eliza �t �'eGi�rt�. Josep E. ds, Jr. �
, Deputy Cdunty=•Clerk Chairman � .
r
APPROVEO AS TO FORM:
andra M. Stul er
County Attorney ,
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