Resolution 2012-43 - Laserfiche WebLink

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CONDITIONS ON INCLUSION This Petition shall be deemed to be void ab initio unless: • 1. A Takoda Metropolitan District 2012 Service Plan Amendment ("Service Plan Amendment"),in a form acceptable to Owner/Petitioner,is approved by the City of Louisville on or before August 31,2012. 2. On or before September 30,2012,debt that is expressly subordinate to the District's Series 2010 Bonds,in the aggregate principle amount not to exceed$1,475,000 is issued by the District and the proceeds thereof,net of costs related to the authorization and issuance of such debt,is placed in an escrow account for use for public improvements as described in the Service Plan Amendment. The • payments from the escrow account are to be approved by the District Engineer and two District Board Members who are acceptable to Owner/Petitioner. Such subordinate debt shall require the District to certify a minimum mill levy of 50 mills, inclusive of up to 5 mills for operations and repayment of advances,which mill levy may be adjusted upward or downward from time to time as provided in the Service Plan(i.e„Gallagerized),until such time as the principle and interest of the subordinate debt is fully repaid. 3. The proceeds of such subordinate debt,however,shall not be spent by the District(other than for repayment of the subordinate debt if the inclusion is not completed) until such time as the Order of Inclusion of the District Court in and for Boulder County is recorded in the real property records of the Boulder County Cleric and Recorder. • 4. The District shall not file a motion,an inclusion resolution or order of the District in such District Court until such time as conditions 1 and 2 above are completed to the reasonable satisfaction of the District and Owner/Petitioner. • Fee Owner/Petitioner: RMCS,LLC,a Colorado limited liability company • Ric,z d Brew, ' acip• • •