City Council Minutes 1994 11 01 - Laserfiche WebLink

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Davidson spoke of the pride Council had in Baysinger, his staff, and the citizens of Louisville who had supported Council in its vast expansion of the parks system and their commitment to the Recreation Center. Mayer felt an appropriate token should be given to the people responsible for the city receiving the award. ORDINANCE NO. 1170, SERIES 1994 - OF THE CITY OF LOUISVILLE AUTHORIZING THE ISSUANCE OF THE CITY OF LOUISVILLE, COLORADO, OPEN SPACE SALES TAX REVENUE BONDS, SERIES 1994, IN THE TOTAL AGGREGATE PRINCIPAL AMOUNT OF $4,150,000, FOR THE PURPOSE OF ACQUIRING LAND FOR OPEN SPACE BUFFER ZONES, TRAILS, WILDLIFE HABITATS, WETLAND PRESERVATION AND FUTURE PARKS, INCLUDING REIMBURSING THE CITY FOR CERTAIN PRIOR OPEN SPACE ACQUISITIONS; PRESCRIBING THE FORM OF SAID BONDS; PROVIDING FOR THE PAYMENT OF THE OPEN SPACE SALES TAX IMPOSED BY THE CITY AND PLEDGED TO THE CITY'S OPEN SPACE CAPITAL IMPROVEMENT FUND; AND PROVIDING OTHER COVENANTS AND DETAILS IN CONNECTION THEREWITH - 1ST READING - SET PUBLIC HEARING 11/15/94 Gfiffiths read by title only Ordinance No. 1170, Series 1994, "An ordinance of the City of Louisville authorizing the issuance of the City of Louisville, Colorado, Open Space Sales Tax Revenue Bonds, Series 1994, in the total aggregate principal amount of $4,150,000, for the purpose of acquiring land for open space buffer zones, trails, wildlife habitats, wetland preservation and future parks, including reimbursing the city for certain prior open space acquisitions; prescribing the form of said bonds; providing for the payment of the principal of and interest on said bonds from the revenues of the Open Space Sales Tax imposed by the city and pledged to the city's Open Space Capital Improvement Fund; and providing other covenants and details in connection therewith." Forrest Cason, Kirkpatrick Pettis, 1700 Lincoln Street, Denver, Colorado, stated that the bonds will mature by 2003. It will be a bank qualified issue, with the underwriting discount being somewhat higher than on the city's prior issuances, because of the way this issue would be marketed as serial maturities with no term bonds. Davidson called for Council questions or motions. Mayer moved that Council place Ordinance No. 1170, Series 1994, out for publication and set a public hearing for November 15, 1994. Seconded by Sisk. All in favor. MCSTAIN ENTERPRISES - CENTENNIAL H - ADOPTION OF FINDINGS OF FACT Davidson suggested Council appoint a negotiating committee consisting of himself and Ward H Councilman Tom Mayer to meet with representatives of McStain. 3