Ordinance 1992-1070 - Laserfiche WebLink

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~I..&> - J 6 ORDINANCE NO. 1070, SERIES 1992 AN ORDINANCE OF THE CITY OF LOUISVILLE, COLORADO, APPROVING A LOAN FROM THE COLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITY IN THE PRINCIPAL AMOUNT OF $ 7 , 500 , 000 FOR THE PURPOSE CONSTRUCTING, INSTALLING, AND ACQUIRING CERTAIN WATER FACILITIES; AUTHORIZING THE FORM AND EXECUTION OF THE LOAN AGREEMENT AND A SPECIAL REVENUE GOVERNMENTAL AGENCY BOND TO EVIDENCE SUCH LOAN; PLEDGING THE NET REVENUE OF THE CITY'S WATER SYSTEM TO THE REPAYMENT OF SUCH BOND; PRESCRIBING OTHER DETAILS IN CONNECTION THEREWITH; AND DECLARING AN EMERGENCY. Upon motion duly made and seconded, the ordinance was amended on second reading to add the following new Section: "Section 17. Authorization of Project. The Project is hereby authorized and approved, and the appropriate officers and employees of the City shall and are hereby authorized to take all action necessary to the construction, installation, and acquisition of the Project from the proceeds of the Bond and, to the extent necessary, from any other legally available moneys of the System." Thereupon, Councilmember Tom Maver moved that the ordinance be approved and adopted on second reading, as amended. Councilmember Kevin Howard seconded the motion. The question being upon the adoption of the motion to approve the ordinance on second reading, as amended, the roll was called with the following result: Those voting YES: Tom Davidson Margaret Hornbostel Kevin Howard Rob LathroD Charles Sisk Tom Mayer I,an:y Hedding Those voting NO: Not less than three-fourths (3/4) of the members of the City Council having voted in favor of the motion, the presiding officer thereupon declared the motion carried, and the ordinance approved and adopted on second reading, as amended. It was thereupon ordered that the ordinance be published by title in the same newspaper in which it was published in full after first - 12 -