Resolution 1981-10 - Laserfiche WebLink

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WHERE S, the proposed issuance of the industrial development revenue bonds a d the execution of related financing documents are not prohibited by t e ordinances or rules of the City; NOW, HEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOU SVILLE, COLORADO: Secti n 1. In order to induce the User to complete the Project within he City, the City shall take all steps necessary or advisable to ef ect the issuance of industrial development revenue bonds or other bligations in a maximum aggregate principal amount of $200,000.00 the "Bonds") . No costs are to be borne by the City in connect on with the issuance of the Bonds. Secti The terms and conditions of the Bonds and of the financing d 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 documents will be subject to authorization by Ordinance of th City Council pursuant to law and any ordinances or rules of the Ci Secti The User has agreed to provide for reimburse- ment of all exp incurred or to be incurred by the City related to the User's P Secti n 4. Neither the Bonds, including interest and any premiums , nor anything contained in this Resolution shall constitute a de t or indebtedness of the City within the meaning of the Constructio or Statutes of the State of Colorado, nor give rise to a pecuniary iability of the City or a charge against its general credit or taxin powers. The bonds shall be payable solely from and secured by a pl dge of the revenues derived from and payable pursuant to the documents referred to in Section 2 hereof. n 5. All commitments by the City made herein are subject to the ondition that on or before one year from the date hereof, and the User shall have agreed to mutually accept- able terms for he Bonds or other obligations provided for hereunder, in an amount no to exceed $200,000.00 and for the sale and delivery thereof. Secti n 6. The Mayor, City Clerk, City Attorney, City Administrator, nd other officers and agents of the City are hereby authorized to 1 itiate and assist in the preparation of such financing -2-