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Anderson and Sackett asked to be excused from the <br />proceedings on thi~> Agenda Item (Ordinance #952) <br />due to possible con:Elict of interest. <br />Williamson read in :its entirety Ordinance No. 952, <br />Series 1988, "An Ordinance authorizing the <br />issuance by the City of Louisville, Colorado, of <br />its Golf Course Revenue Bonds, Series 1988, in the <br />principal amount of $4, 340, 000 for the purpose of <br />constructing, installing and equipping a Municipal <br />Golf Course and related facilities; prescribing <br />the form of said bonds; providing for the payment <br />of the principal of and interest on said bonds <br />from the net revenues of the golf course; and <br />providing other covenants and details in <br />connection therewith." A copy of the Ordinance <br />will be included and attached to the minutes for <br />this meeting. Permission is being sought to place <br />the Ordinance out for publication and a public <br />hearing set for May 17, 1988. <br />Szymanski moved and Mayor Fauson seconded to place <br />Ordinance #952 out. for publication and public <br />hearing set for May 17, 1988. The motion passed <br />4-0. <br />Anderson and Sackett: rejoined the meeting. <br />ADDENDUM TO COAL CREEK RANCH ANNEXATION <br />AGREEMENT Williamson explained that Section 19 of the Coal <br />Creek Annexation Agreement required the annexor to <br />pay a fee of $1080 per unit up to 180 units. In <br />order to provide fu:11 disclosure and increase the <br />amount pledged to cover the golf course bonds, the <br />City's bond attorneys, Lamm and Edstrom, requested <br />that an addendum to the Annexation Agreement be <br />executed that: 1) Pledges the annexor's best faith <br />efforts to constz•uct 450 housing units; 2 ) <br />Obligates annexor to pay the $1080 fee for each of <br />the 450 units; and 3) Requires that the annexors <br />agree not to challenge the validity of the fee. <br />This is to assure •the bond purchasers that the <br />Service Expansion Fee will not be legally <br />challenged. <br />Szymanski moved and Carnival seconded to authorize <br />the Mayor to execute the addendum. Unanimous. <br />LIVE MUSIC PERMIT AND STREET CLOSURE REQUEST - <br />PUBLIC HEARING Ferris stated that the applicant, Mr. Lambrecht of <br />659 W. Dahlia, is requesting approval of a permit <br />for a live musical performance in a residential <br />neighborhood for a graduation party on June 4, <br />1988 from 7:00-10:1)0 p.m. The City's Municipal <br />Code, Chapter 9.40, outlines specifically the <br />7 <br />