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<br /> ORD I NANCE NO. l?SCJ <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF <br /> A $435,000.00 INDUSTRI}~L DEVELOPMENT REVENUE NOTE, <br /> SERIES 1984 (KIRK PECK PROJECT); RATIFYING CERTAIN <br /> ACTIONS HERETOFORE TAKEN; AUTHORIZING THE EXECUTION <br /> AND DELIVERY BY THE ISSUER OF A FINANCING AGREEMENT <br /> AND CLOSING DOCUMENTS IN CONNECTION WITH SUCH <br /> NOTE; AUTHORIZING THE EXECUTION AND DELIVERY OF <br /> SUCH NOTE; AND REPEALING ANY ACTION HERETOFORE <br /> TAKEN IN CONFLICT HEREWITH. <br /> WHEREAS, the City of Louisville, Colorado (the "Issuer") <br /> is a legally and regularly created and established city <br /> organized and existing under the laws and Constitution of <br /> the State of Colorado (the "State"); and <br /> WHEREAS, the County a.ncLMunicipali ty Development Revenue <br /> Bond Act, constituting Sections 29-3-101 through 29-3-123, <br /> inclusive, Colorado Revised Statutes 1973, as amended (the <br /> "Act"), authorizes cities tC) finance one or more "proj ects , " <br /> including any land, building or other improvement and real <br /> and personal properties sui t.able or used for or in connection <br /> wi th facilities for manufac1:uring..,_.industrial and commercial <br /> enterprises, to the end th,at such cities may be able to <br /> promote industry and develop trade or other economic activity <br /> by inducing such enterprises to locate, expand or remain in <br /> the State, to mitigate the serious threat of extensive <br /> unemployment, to secure and maintain a balanced and stable <br /> economy, all of which proml:>te the public health, safety, <br /> welfare, convenience and prosperity; and <br /> WHEREAS, such cities are further authorized by the Act <br /> to issue revenue bonds or notes for the purpose of defraying <br /> 2 <br />