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of Louisville, Colorado, of Sewer Revenue Bonds, <br />Series 1985, in the principal amount of <br />$2,755,000, for the purpose of paying the sewerage <br />system; prescribing the form of the principal of, <br />premium if any, a:nd interest on the bonds from the <br />net revenue derived from the City's sewerage <br />facilities; providing other details in connection <br />therewith; and declaring an emergency." The <br />Ordinance was properly published as was notice of <br />the Public Hearing. Rautenstraus further stated <br />that there are minor revisions to the Ordinance <br />and that adoption of Ordinance #879 should be "as <br />amended." <br />Mayor Meier opened the Public Hearing. <br />Russ Caldwell of ]Kirchner Moore, the City's Bond <br />Counsel, detailed the sale of the bonds and the <br />repayment to be made over a 15 year period to year <br />2001. <br />Mayor Meier asked for Public Comment in favor of <br />or in opposition t:o Ordinance #879. None. Mayor <br />Meier closed the Public Hearing and moved that <br />Ordinance #879 be adopted as amended. Fauson <br />seconded. By roll. call vote, Ordinance #879 <br />passed unanimously. <br />ORDINANCE #880 - SPECIAL ASSESSMENT DISTRICT - <br />MCSTAIN - PUBLIC HEARING <br />Rautenstraus read by title only Ordinance #880, <br />"An Ordinance creating Special Improvement <br />District No. 1985-•1 in the City of Louisville, <br />Colorado; ordering the construction and <br />.installation therein of certain improvements; <br />adopting details and specifications therefor; <br />providing for the issuance of bonds in payment for <br />said improvements; providing for other details in <br />connection with the District; and declaring an <br />emergency." Ordinance #880 was properly published <br />as was notice of t:he Public Hearing. <br />Mayor Meier openedl the Public Hearing. <br />Tom Hoyt, President, McStain Ent., gave a brief <br />presentation stating that start-up should begin <br />around March 1 and', run approximately 3-4 months. <br />Mayor Meier asked for Public Comment in favor of <br />or in opposition t.o Ordinance #880. None. Mayor <br />Meier closed the Public Hearing and moved that <br />Ordinance #880 be adopted. Luce seconded. By <br />roll call vote, Ordinance #880 passed unanimously. <br />3 <br />