Ordinance 1982-764 - Laserfiche WebLink

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WHEREAS, the funds from the proceeds of the Bond issue will be made available to FIRMM Investments, a Colorado general partnership (the "Borrower"), for the acquisition and construction of the Project; and WHEREAS, a $475,000 Industrial Development Revenue Bond (FIRMM Investments Project), Series 1982, City of Louisville, Colorado, (the "Bond"), is expected to be issued, sold, and delivered by the City to the First National Bank of Louisville (the "Lender") and the proceeds thereof are expected to be used by the Borrower to pay the cost of financing the Project, including all or a portion of the interest on the Bond during the construc- tion period of the Project,. and certain incidental costs and expenses incurred in connection with the issuance of the Bond; and WHEREAS, concurrently with the issuance of the Bond, the Borrower will enter into a Loan Agreement (hereinafter described) with the City providing for payments by the BOrrower sufficient to pay the principal of, redemption premium, if any, and interest on the Bond and to meet other obligations as herein and therein provided; and WHEREAS, the following documents have been submitted to the City Council (the "Council") and filed in the office of the City Clerk (the "Clerk") and are there available for public inspection: ( a) a Bond Purchase~ Agreement, dated as of the date of delivery of the Bond (the "Bond Purchase Agreement"), proposed to be made and entered into among the City, the Borrower, and the Lender; and (b) a Loan Agreement, dated as of the date of delivery of the Bond (the "Loan Agreement"), proposed to be made and entered into between the City and the Borrower; ( c) an Assignment and Security Agreement dated as of the date of delivery of the Bond, (the "Assignment"), proposed to be made and entered into between the City and the Lender; and - 3 -