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Mayor Fauson asked for any public comments either <br />in favor of or in apposition to this Ordinance. <br />None. <br />Mayor Fauson closed the public hearing and called <br />for a motion. <br />Mohr moved and Scarpella seconded to adopt <br />Ordinance #983, Series 1989. By Roll Call Vote, <br />Ordinance #983, Series 1989 was adopted 7-0. <br />Sackett stated that he would be abstaining from discussion and any action <br />on the next Agenda Item due to possible conflict of interest. <br />ORDINANCE #985, SERIES 1989 - BOULDER MEMORIAL REVENUE BONDS - 2ND READING <br />PUBLIC HEARING Read by title only, Ordinance #985, Series 1989, <br />"An Ordinance providing for the issuance of the <br />City of Louisville, Colorado, Revenue Bonds <br />(Boulder Memorial Hospital Project) Series 1989 in <br />the aggregate principal amount of $18,000,000 for <br />the purpose of financing the costs of constructing <br />a new hospital and related improvements in the <br />City of Louisville; authorizing the sale of said <br />bonds; approving the form and authorizing the <br />execution of a mortgage and loan agreement between <br />Boulder Memorial Hospital and the City, a mortgage <br />and loan agreement among Boulder Memorial <br />Hospital, Porter Memorial Hospital and the City, <br />and a mortgage and loan agreement among Boulder <br />Memorial Hospital, Brighton Community Hospital <br />Association, D/BjA Platte Valley Medical Center <br />and the City; approving the form and authorizing <br />the execution of a bond purchase agreement; an <br />indenture of trust and a tax regulatory agreement; <br />authorizing the execution of miscellaneous <br />documents and instruments related thereto; and <br />repealing Ordinance No. 960, Series 1988." Proof <br />of publication and notice of public hearing were <br />established. <br />Mayor Fauson opened the public hearing. <br />Stahl explained that Boulder Memorial Hospital has <br />requested that the City of Louisville issue <br />Revenue Bonds in the aggregate principal amount of <br />$18,000,000 for the purpose of constructing a new <br />hospital at the Centennial Health Park. In July <br />of 1988, the City of Louisville adopted Ordinance <br />#960 providing for the issuance of revenue bonds <br />for this project. However, due to recent changes <br />in their financial structure, a new ordinance has <br />been drafted providing for the issuance of the <br />revenue bonds in the amount of $18,000,000 and <br />repealing Ordinance #960, Series 1988. <br />3 <br />