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<br />1 <br /> <br /> <br />ORDINANCE NO. _____ <br />SERIES 2013 <br /> <br />AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF THE <br />CITY OF LOUISVILLE, COLORADO, WATER AND WASTEWATER <br />ENTERPRISE REVENUE REFUNDING BONDS, SERIES 2013, PAYABLE <br />SOLELY OUT OF THE NET REVENUES TO BE DERIVED FROM THE <br />OPERATION OF THE CITY’S WATER AND WASTEWATER ENTERPRISE; <br />AND PROVIDING OTHER DETAILS CONCERNING THE BONDS, <br />INCLUDING, WITHOUT LIMITATION, COVENANTS AND AGREEMENTS <br />IN CONNECTION THEREWITH. <br />WHEREAS, the City of Louisville, in the County of Boulder and State of <br />Colorado (the “City”) is a municipal corporation duly organized and existing under the laws of <br />the State of Colorado and in particular under the provisions of Article XX of the Constitution of <br />the State of Colorado and the City’s Charter (the “Charter”); and <br />WHEREAS, the members of the City Council (the “Council”) have been duly <br />elected and qualified; and <br />WHEREAS, pursuant to Sections 12-1(a) and 13-1 of the Charter, the City may <br />borrow money and issue securities or enter into other obligations to evidence such borrowing in any <br />form and in any manner determined by the Council to be advantageous to the City, subject to the <br />State Constitution and notwithstanding any limitations in the State statutes; and <br />WHEREAS, the City has heretofore determined and undertaken to combine, <br />operate, and maintain its water and wastewater facilities, including all facilities, properties and <br />equipment utilized in the provision of water or wastewater or stormwater services, as a public utility <br />and income-producing project (the “System”) and accounts for the financial operations of the <br />System in the City’s Water and Wastewater Activity Enterprise Fund; and <br />WHEREAS, the Council has determined that the System constitutes an enterprise <br />pursuant to Article X, Section 20 of the Colorado Constitution; and <br />WHEREAS, the City, acting by and through the City of Louisville Water and <br />Wastewater Enterprise, has previously issued a Governmental Agency Bond dated as of June 1, <br />2003 to the Colorado Water Resources and Power Development Authority (the “Authority”) in <br />the original principal amount of $13,800,000 to evidence a loan (the “2003 Loan”) made by the <br />Authority to the City, pursuant to a Loan Agreement dated as of June 1, 2003 (the “2003 Loan <br />Agreement”); and <br />WHEREAS, the City is not delinquent in the payment of any amounts due under <br />the 2003 Loan; and <br />7