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WHEREAS, the Parties intend that LRC financial assistance for the Project be limited to <br />certain Property Tax TIF revenue available to the LRC after payment of (i) LRC operating, <br />administrative, consulting, and other costs ("Operating Expenses"), and (ii) any prior financial <br />obligations of the LRC, including but not limited to any (a) existing bonded indebtedness, and (b) <br />amounts required to be paid out of the LRC's special fund under existing agreements to which the <br />LRC is a party ("Prior Financial Obligations"). <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF LOUISVILLE, COLORADO: <br />Section 1. The proposed Cooperation Agreement between the City of Louisville and the <br />Louisville Revitalization Commission (the "Agreement"), a copy of which is attached hereto and <br />incorporated herein by this reference, is hereby approved. <br />Section 2. The Mayor is authorized to execute the Agreement on behalf of the City, <br />except that the Mayor is hereby further granted authority to negotiate and approve such revisions to <br />said Agreement as the Mayor determines are necessary or desirable for the protection of the City, so <br />long as the essential terms and conditions of the Agreement are not altered. <br />Section 3. The Mayor, City Manager and City Staff are further authorized to do all things <br />necessary on behalf of the City to perform the obligations of the City under the Agreement, and are <br />further authorized to execute and deliver any and all documents necessary to accomplish the terms, <br />conditions and provisions of the Agreement. <br />PASSED AND ADOPTED this 1st day of June, 2021. <br />ATTEST: <br />Meredyth Muth, City Clerk <br />shley St mann, Mayor <br />Resolution No. 39, Series 2021 <br />Page 2 of 2 <br />