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WHEREAS, the Act and Section 18, Article XIV of the Colorado Constitution <br />authorize the Parties to enter into cooperation agreements; and <br />WHEREAS, there has been prepared a Cooperation Agreement to set forth the <br />terms and conditions of the LRC's financial assistance to the City for the Ice Rink; and <br />WHEREAS, the LRC and the City intend that LRC financial assistance for the Ice <br />Rink be limited to certain Property Tax TIF revenue available to the LRC after payment <br />of (i) LRC operating, administrative, consulting, and other costs ("Operating Expenses"), <br />and (ii) any prior financial obligations of the LRC, including but not limited to any (a) <br />existing bonded indebtedness, and (b) amounts required to be paid out of the LRC's <br />special fund under existing agreements to which the LRC is a party ("Prior Financial <br />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 <br />and the Louisville Revitalization Commission (the "Agreement"), regarding the outdoor ice <br />rink at the Steinbaugh Pavilion on Front Street, 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 <br />City, except that the Mayor is hereby further granted authority to negotiate and approve such <br />revisions to said Agreement as the Mayor determines are necessary or desirable for the <br />protection of the City, so long as the essential terms and conditions of the Agreement are <br />not altered. <br />Section 3. The Mayor, City Manager and City Staff are further authorized to do all <br />things necessary on behalf of the City to perform the obligations of the City under the <br />Agreement, and are further authorized to execute and deliver any and all documents <br />necessary to accomplish the terms, conditions and provisions of the Agreement. <br />PASSED AND ADOPTED this 5t" day of September, 2023. <br />ATTEST: <br />Meredyth Muth, City Clerk <br />& 0 W� <br />Dennis Maloney, Mayor <br />Resolution No. 49, Series 2023 <br />Page 2 of 2 <br />