Resolution 1981-07 - Laserfiche WebLink

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the proposed issuance of the industrial develop- ment revenue b and the execution of related financing documents are not prohibited by the ordinances or rules of the City; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LO ISVILLE, COLORADO: Section 1. In order to induce the User to complete the Project within the City, the City shall take all steps necessary or advisable to effect the issuance of industrial development revenue bonds or other obligations in a maximum aggregate principal amount of $1,000,000.00 (the "Bonds ") . No costs are to be borne by the City in connection with the issuance of the Bonds. Section 2. The terms and conditions of the Bonds and of the financing cuments relating to said Bonds or other obligations will be mutuall agreed upon by the City and the User, and prior to their execution, such document:s will be subject to authorization by Ordinance of the City Council pursuant to law and any ordinances or rules of the City. Section 3. The User has agreed to provide for reimburse- ment of all ex enses incurred or to be incurred by the City related to the User's Project. Section 4. Neither the Bonds, including interest and any premiums thereon, nor anything contained in this Resolution shall constitute a d or indebtedness of the City within the meaning of the Constituti n or Statutes of the State of Colorado, nor give rise to a pecuniary liability of the City or a charge against its general credit or taxi The Bonds shall be payable solely from and secured by a pledge of the revenues derived from and payable pursuant to the financi g documents referred to in Section 2 hereof. All commitments by the City made herein are subject condition that on or before one year from the date hereof, User shall have agreed to mutually accept- able terms for the Bonds or other obligations provided for hereunder, in an amount n t to exceed $1,000,000.00 and for the sale and delivery there f. -2-