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<br /> Council and the efforts of t~e Issuer directed toward financ- <br /> ing the Project, and the issuance and sale of the Note <br /> therefor, be, and the same hereby are, ratified, approved <br /> and confirmed. <br /> Section 2. The Issuer shall finance the Project, in- <br /> cluding the paying of incidemtal issuing expenses, by deposit- <br /> ing the proceeds of the Not,e with Peck, and the proceeds of <br /> the Bonds will be disbursed by Peck in accordance with the <br /> Financing Agreement to provide financing for the Project. <br /> section 3. In order to provide financing for the <br /> Project, there is hereby au.thorized and created a revenue <br /> note designated as City of Louisville, Colorado, Industrial <br /> Development Revenue Note, SE~ries 1984 (Kirk Peck Project) in <br /> the aggregate principal amount of $435,000.00, to be dated <br /> , bearing interest from its date at the rates <br /> and payable at the times se~t forth in the Note; a copy of <br /> which Note is attached hereto and incorporated by reference <br /> herein. <br /> The Note shall be sold to the Bank at a private sale at <br /> a purchase price of $435,000.00. The maximum interest rate <br /> on the Note, which is set forth in the Note, is hereby <br /> determined to be the maximum net effective interest rate on <br /> the Note. <br /> . <br /> Section 4. The following determinations and findings <br /> are based upon the representations of Peck, the Bank and <br /> bond counsel, and are hereby made in accordance with Sections <br /> 29-3-113, 29-3-114 and 29-3..120 of the Act: <br /> 5 <br />