Resolution 1980-35 - Laserfiche WebLink

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. - are not prohibited by an ordinances or rules of the City; NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section l. 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.( the "Bonds III) . No cos ts 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 documents relating to said Bonds or other obligations will be mutually agreed upon by the City and the User, and prior to their execution, such documents 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 expenses 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 debt or indebtedness of the City within the meaning of the Constitution 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 taxing powers. The Bonds shall be payable solely from and secured by a pledge of the revenues derived from and payable pursuant to the financing documents referred to in Section 2 hereof. Section 5. All commitments by the City made herein are subject to the condition that on or before one year from the date hereof, the City and the User shall have agreed to mutually accept- able terms for the Bonds or other obligations provided for hereunder, in an amount not to exceed $1,000,000.00 and for the sale and delivery thereof. Section 6. The Mayor, City Clerk, City Attorney, City Administrator, and other officers and agents of the City are hereby authorized to initiate and assist in the preparation of such financing documents and related materials as may be appropriate to the issuance of the Bonds. -2-