Ordinance 2006-1493 - Laserfiche WebLink

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WHEREAS, a Financing Agreement, to be dated as of May 1, 2006 (the "Agreement"), among the Issuer, the Borrower and Wells Fargo Bank, N.A., a national banking association (the "Bank") has been submitted to the City Council (the "Council") and filed in the office of the Louisville City Clerk (the "Clerk"), and is there available for public inspection; and WHEREAS, the Council desires at this time to authorize the issuance of the Bond, for the purpose of the Project; and WHEREAS, a public hearing before the Council concerning the proposed Bonds and the nature and location of the Project is scheduled to be held on June 6, 2006, and such public hearing in accordance with Section 147(f) of the Internal Revenue Code of 1986 will be required as condition to the issuance and sale of the Bonds; and WHEREAS, it is necessary or desirable to authorize the issuance of the Bond by Ordinance and to approve the form and authorize the execution of the Agreement. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE AS FOLLOWS: Section 1. Determinations. It is hereby found, determined and declared, that: (a) The financing of the Project will promote the public health, welfare, safety, convenience and prosperity and promote and develop trade or other economic activity by inducing a non-profit corporation to locate, expand or remain in the Issuer and the State of Colorado to secure and maintain a balanced and stable economy for the Issuer and the State of Colorado. (b) The maximum amounts necessary in each year to pay the principal of and interest on the Bond and the interest rate or rates to be borne by the Bond are as provided in the Agreement. 2