Ordinance 1982-764 - Laserfiche WebLink

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(d) a Deed of Trust and Security Agreement, dated as of the date of delivery of the Bond (the "Deed of Trust"), proposed to be made and entered into by and between the Borrower and the Public Trustee of the County of Boulder, State of Colorado, for the benefit of the Lender; and WHEREAS, the City has considered the Borrower's proposal and has concluded that the economic and other benefits to the City will be substantial and that: it wishes to proceed with the fi- nancing of the Project; WHEREAS, the Council desires to authorize the issuance of a City of Louisville, Colorado, Industrial Development Revenue Bond (FIRMM Investments Project), Series 1982, dated as of the date of delivery thereof, in the principal amount of $475,000 (the "Bond" or "Series 1982 Bond"); and WHEREAS, it is necessary to authorize the issuance of the Series 1982 Bond by Ordinance and to approve the form of said documents and authorize the execution thereof in connection wi th the issuance of the Bond: NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1 . Definitions. Certain terms used in this Bond Ordinance shall have the meaning given to them in Article I of the Loan Agreement, unless the context clearly indicates otherwise. Section 2. Ratification, Approvals, and Amendments. , All action (not inconsistent with the provisions of this Ordin- ance) heretofore taken by the Council and the officers of the City directed toward the financing of the Project and the issuance and sale of the Bond therefor be, and the same is hereby, ratified, approved, and confirmed. The forms, terms, and provisions of the Bond Purchase Agreement, Loan Agreement, Assignment, and Deed of Trust are incorporated herein by reference and are hereby ap- proved. The Mayor of the City Council (the "Mayor") and the Clerk are hereby authorized and directed to execute the Bond Purchase - 4 -