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Core Area TIF Bonds <br />City0f <br />Om Louisville <br />COLORADO • SINCE 187S <br />LRC Bond Resolution <br />• Authorizes the ability to sell bonds of $4,500,000 <br />at 7% interest. <br />• Bonds are paid through Pledged Revenues <br />— Do not include County Payment, staff costs, and South <br />Street Gateway contributions <br />— Payments made December 1 <br />— Unpaid interest due to lack of Pledged Revenues is not <br />a default <br />— Unpaid interest compounds annually <br />— After 7 years, LRC may redeem bonds (i.e. refinance) <br />Core Area TIF Bonds <br />LCity,/ <br />Louisville <br />COLORADO. SINCE 1678 <br />Bond Purchase Agreement <br />• Outlines funding provisions between LRC and <br />DFP, LLC <br />• LRC agrees to issue bonds <br />• DFP, LLC agrees to buy the bonds <br />• $700,000 initial issuance <br />• Additional issuances of more than $1,000,000 up <br />to the $4,500,000 maximum <br />• After Final Advance, bonds may be transferred in <br />increments greater than $500,000 <br />14 3 <br />