Ordinance 1992-1070 - Laserfiche WebLink

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~LP - y WHEREAS, the City's repayment obligations under the Loan Agreement shall be evidenced by a special revenue governmental agency bond (the "Bond") to be issued by the City to the Authority; and WHEREAS, such Loan shall be payable solely from and secured by a pledge of and an irrevocable lien on the net revenue of the System; and WHEREAS, the City's obligations under the Loan Agreement and the Bond shall not constitute a debt or indebtedness of the city within the meaning of any constitutional or statutory provision or limitation, nor shall it be considered or held to be a general obligation of the City; and WHEREAS, there have been presented to the Council the forms of the Loan Agreement and Bond (collectively, the "Financing Documents"), and other documents referenced therein; and WHEREAS, the Council desires to approve the forms of the Financing Documents and authorize the execution thereof; and WHEREAS, pursuant to ~18-8-308, C.R.S., all known potential conflicting interests with respect to the Bond and the expendi ture of the proceeds thereof have been disclosed to the Council and the Colorado Secretary of State; and WHEREAS, the Council has determined that no member of the Council has a personal or private interest, as such terms are used in ~24-18-109, C.R.S., in the matter now pending before the Council, and that no member of the Council has any interest, as such term is used in ~24-18-201, C.R.S. in any contract made or to be made pursuant to this Ordinance; BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Approvals, Authorizations, and Amendments. The forms of the Financing Documents presented at this meeting are incorporated herein by reference and are hereby approved. The City shall enter into and perform its obligations under the Financing Documents in the forms of such documents, with only such changes as are not inconsistent herewith. The Mayor and City Clerk are hereby authorized and directed to execute the Financing Documents and to affix the seal of the City thereto, and further to execute and authenticate such other documents or certificates as are deemed necessary or desirable in connection therewith. The Financing Documents shall be executed in substantially the forms approved hereby, provided that such documents may be completed, corrected, or revised as deemed necessary by the parties thereto in order to carry out the purposes of this Ordinance. - 3 -