Resolution 1981-19 - Laserfiche WebLink

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I S, the proposed issuance of the industrial development revenue bonds a d the execution of related financing documents are not prohibited by e ordinances or rules of the City; NOW, HEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOU SVILLE, COLORADO: Secti nl. In order to induce the User to complete the Project within the City shall take all steps necessary or advisable to ef ect the issuance of industrial development revenue bonds or otIler bligations in a maximum aggregate principal amount of $520,000.00 (tIle "Bonds" ) . No costs are to be borne by tIle Ci ty in camect' on wi tIl the issuance of tIle Bonds. Secti The terms and conditions of tIle Bonds and of the financing d relating to said Bonds or other obligations will be mutuall agreed upon by the City and the User, and prior to their execut.ion such documents will be subject to authorization by Ordinance of City Council pursuant to law and any ordinances or rules of tIle The User Ilas agreed to provide for reimburse- ment of incurred or to be incurred by the City related to the 4. Neither the Bonds, including interest and any premiums , nor anything contained in tIlis Resolution shall constitute a de or indebtedness of the City within the meaning of tIle Constitutio or Statutes of tIle State of Colorado, nor give rise to a pecuniary iability of the City or a charge against it's general credit or taxin powers. The bonds shall be payable solely from and secured by a pl revenues derived from and payable pursuant to the documents referred to in Section 2 hereof. Secti n 5. All commitments by the City made herein are subject to the that on or before one year from the date hereof, and the User shall Ilave agreed to mutually accept- able terms for he Bonds or other obligations provided for hereunder, in an amount to exceed $520,000.00 and for the sale and delivery thereof. n 6. The Mayor, City Clerk, City Attorney, City Administrator, nd other officers and agents of the City are hereby authorized to i itiate and assist ln tIle preparation of such financing -2-