Ordinance 1993-1099 - Laserfiche WebLink

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ORDINANCE NO. /OQ9 AN ORDINANCE PROVIDING FOR THE AMENDMENT OF THE CITY OF LOUISVILLE, COLORADO, INDUSTRIAL DEVELOPMENT REVENUE BOND (FIRMM INVESTMENTS PROJECT) SERIES 1982; AND APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF CERTAIN DOCUMENTS RELATING THERETO. WHEREAS, the City of Louisville, Colorado (the "ISsuer"), acting through its City Council (the "Council"), is authorized by the provisions of Part 1 of Article 3 of Title 29, C.R.s. (the "Act"), to finance, refinance, acquire, own, lease, improve and dispose of properties to the end that manufacturing, industrial, commercial or business enterprises will locate, expend, or remain in the City of Louisville, and the Issuer is further ~uthorized thereby to issue revenue bonds for the purpose of defraying the costs of financing, refipancing, acquiring, improving and equipping such facilities; and WHEREAS, the Issuer has previously issued its $475,000 Industrial Development Revenue Bond (FIRMM Investments Project) Series 1982 (the "Bond"), to finance the construction of an office building located within the boundaries of the Issuer (the "Project"); and WHEREAS, the Issuer now desires to amend the Bond to reduce the interest rate payable on such Bond; and WHEREAS, the following documents have been submitted to the Council and filed in the office of the City Clerk and are there available for public inspection: (a) a Second Amendment to Loan Agreement, proposed to be made and entered into among the Issuer, FIRMM Investments, a Colorado general partnership (the "Borrower"), and Bank One, Boulder, N.A. (the successor to the First National Bank of Louisville), in Boulder, Colorado (the "Lender"); (b) a Second Amendment to Deed of Trust between the Borrower and the Lender; (c) a Second Amendment to Promissory Note among the Issuer, the Borrower, and the Lender; and - 2 -