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<br />First reading Janua '6, 1981
<br />Second reading Febru ry 17, 1981
<br />
<br />ORDINANCE NO. 712
<br />SERIES 1981
<br />
<br />AN ORDIif~Cf;.P:R.OYIDING FOR THE. ISSUANCE AND
<br />SALE OFAl:il I~pUS;'PRIAL DEVgLOPf.\~ii.. ~EVENUE OND
<br />(REGAL INVESTMBNT ASSOCIAT:e:S" ~Iil!'TEl>1 PROJET),
<br />SER:IES" .1981, IN THE;~~i~:".9';t~ALAMOUNT"~fOF
<br />$3TS,090'; ..~~p A:pPROVIN:t;,>TEf!'i;'fORMQF CERAIN
<br />D09tJME~tSRgIfATl~' THERE~A~l"A'Q[,ftRIZlNG'THE
<br />EXEG,UT.~ON THERE,OF~'" ".'
<br />
<br />'.- ',. ',. - . -- ,(::'," .(./r,
<br />'. ,"'-._;, " .,........,
<br />
<br />..~H~J~EASI'~;I;~...Cit,~.. Q.f; . t!,~,~I~*.ll e, i n~.6.unt.'., of
<br />
<br />~,'.'.:'-.' ", - ", " . ':':~:.":-:';- _ "_:~.::,l'__,',-:,:,,~~~:: , -':\f:~:~~-,'.,':.,.,_::~:~-,:'_:.:;<:-,:, _ _ "",'::"_>, ,,:,<
<br />Bouldei' ~d ~~~t;~ ofcoloF,,6', (the .f~~~lJ';.'#or the be~~'ft~~'the
<br />
<br />':,.-':"- ":"""- :"-'-';'--,',':"-'~, ""~-'::,'\:~--"';-:"', ,;.':..",', ,--,,:::':'-~.':':,,:,':,:;~':~
<br />inhabitan;t;s~f theSti~~{[:~ndf~r thffprOm6lion of t~,!\,,~it.h,
<br />safety, welfar.e,. C~v:~iii~ce, and' p'x:-osperity, ~s autho" iied 'by the
<br />
<br />'. ,
<br />Count:.~>~?an9?'~,i9iPality Pevelopment Revenue Bond Actq.!1...titu1;ing
<br />
<br />.~",1..""" . . . .' . . '. . .... ...., ...."
<br />Title:..29'i~~~Cle .... 3 ,,~aI\~> 1, COlorado>,~evised St:~~~t;S197?",,\as
<br />amehd~t~i, (t~e'~"'Actll) ~',(i'.Fi), toissuer~~~)i~e,,~nds ..fbr the :~~;~~se,
<br />offin'anciO$, one or niQ3;'~"tP:~ojects, incl.uding cfity. l,apo, 'buildt.ng' or
<br />",' '-.;~~: '-"":- , f:' '-',: ',' ;,:;~"-"': -',!:;;' ',-- _' _ ,
<br />
<br />other improvertt'ents, ~h(f all real or per!ional properties sui table
<br />;.:: '. . . ,!
<br />O"r used for Or in conne9;t:fon with a manufacturing, I industrial,
<br />
<br />". . >,.,. .' I
<br />commerci al',ac1rtic ul t~~{~:+ ,.,or business enterprise, and (b) to
<br />'-"--, "'-'~v'.~.~;f.-:.t ,':~~
<br />enter into a'financing~'9b::~ement~i;tl:la user in rspect of a
<br />','-' ", ,:>..J:....~;
<br />
<br />project,(~;i9J.1 agreement will provide fof paymerib'~'to, he'.City of
<br />
<br />::.,:;~,_'-"A"<:"_/"";'(',,__,, _ ", ,', .'__ ",,:'~.. ._.:-: ":':, , .',
<br />reverid~s~u'f~ic ient fJ17;t:t;he paymen t,o'f:.th'epr inc i ,).' 0 f and
<br />inter~~~~~~2t:~e revenue honds; and
<br />,. ," "'--',,_''-,~ ,"~ ' '\' :1'.;
<br />'ZiMjS"AS, by Resolution No. 3S,Ts,eries t980, uly passed
<br />on OctqQ~X'C"1, 1980 (,the "IndUceme1itR~dl'i.l.tion"), t e City has
<br />.. ~ -: '::>~-"" ': '---~ -:.-
<br />
<br />a9ree(F'T.Q.,i:s;sue~UCh bonds in an aggr~gate pr~nCiPC3,l a u.nt not to
<br />exceed $l,OQ'Oi;,OOO in accordance wi thtibep:;ovisionsof the Act for
<br />", "-. """ "'\,, ,.-'i-.-,:,-.:.._ ' , ,', '::__", ''_':':'..'.....-'.'',
<br />
<br />thepur:p,Q.$ce,,+of ff'nanding the cost ofd~~'el.'Oping as a site, land
<br />'-,: <-~"::"."':':..~::::: .,," .""". , - """ """ "" ,," '
<br />wi~J;1.'tit.\;\:~~7:~,t;~y? and constr1;ucting.' C3,nde~~~PPing a uildingor
<br />
<br />buIld;:i'!h,9.$J,'tHi;t~,on, for,:p~rposes 'Of: J.e.~~;tn:q commer ial office
<br />',',_: '".:'.':.:,,,:"";;::,:.'_-,>,,"'" ,:):~".-,' ,-:,~\;\-.., ,- '-" " "" ,: """ .... "",!" " " ",'
<br />.spae~;'t'-6;:6ttrers( the tiproj ect "); and';
<br />
<br />, WHEREAS, the funds fr;()~ the proceeds 0 the bond
<br />
<br />issue".:Wil'lbe made a,v.a'11ableto Regal Investment
<br />
<br />Limited, " a Colorado l,:i.mitedp,artnership (thehBorrower I ), for the
<br />
<br />aequisi t ioh'\'andcc>nstruction of, the' Project ; ,and
<br />
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