Ordinance 2017-1735 - Laserfiche WebLink

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ANY INVESTMENT INCOME THEREON, BE COLLECTED AND SPENT AS A VOTER -APPROVED REVENUE CHANGE AND AN EXCEPTION TO LIMITS WHICH WOULD OTHERWISE APPLY UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? D The City has not previously authorized or issued any of the debt authorized at the Election E Pursuant to Article X, Section 20(4) of the State Constitution, the Bonds may not be sold on terms which exceed the maximum principal and repayment cost amounts descnbed m the ballot question or in the notice sent to voters, as follows $28,600,000 maximum principal amount of bonds, $1,820,000 maximum annual repayment cost, and $45,400,000 maximum total repayment cost F The City Council has determined and hereby declares that it is m the City's best mterest to undertake the Project and that it is advantageous to the City to issue the Bonds to fmance the Project pursuant to the terms and provisions of this Ordinance G There have been filed with the City Clerk the proposed forms of the following documents the Bond Purchase Agreement, the Paying Agent Agreement, the Continuing Disclosure Certificate and the Preliminary Official Statement H The City Council desires to cause the Bonds to be issued, to authonze and direct the application of the proceeds thereof as set forth herein and in the Sale Certificate, and to provide secunty for the payment thereof, all m the manner set forth below Section 3 Ratification All actions heretofore taken (not inconsistent with the provisions of this Ordinance) by the City Council and other officers and employees of the City relatmg to the Election, the selection of the Underwriter, the authorization, sale, issuance, and delivery of the Bonds, and the application of the proceeds of the Bonds to the Project, are hereby ratified, approved, and confirmed Section 4. Authorization of the Bonds; Supplemental Act, Delegation There is hereby authorized to be issued an issue of fully registered limited tax general obligation bonds of the City, to be designated "City of Louisville, Colorado, Limited Tax General Obhgation Ordinance No 1735, Senes 2017 Page 6 of 36