Ordinance 1993-1097 - Laserfiche WebLink

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ORDINANCE NO. IOq1 AN ORDINANCE PROVIDING FOR THE AMENDMENT OF THE CITY OF LOUISVILLE, COLORADO, INDUSTRIAL DEVELOPMENT REVENUE BOND (REGAL INVESTMENT ASSOCIATES, LIMITED, PROJECT) SERIES 1981; AND APPROVING THE FORM AND AUTHOR I ZING 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 authorized thereby to issue revenue bonds for the purpose of defraying the costs of financing, refinancing, acquiring, improving and equipping such facilities; and WHEREAS, the Issuer has previously issued its $375,000 Industrial Development Revenue Bond (Regal Investment Associates, Limited, Project) Series 1981 (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 between the Issuer and Regal Investment Associates, Limited, a Colorado limited partnership (the "Borrower"); (b) a Second Amendment to Combination Mortgage and Security Agreement between the Borrower and Bank One, Boulder, N.A. (the successor to the First National Bank in Boulder) (the "Trustee"); - 2 -