Ordinance 2003-1417 - Laserfiche WebLink

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interim loan agreement (the "Loan Agreement") with the CWRPDA, a body corporate and political subdivision of the State, pursuant to which CWRPDA shall loan the City an amount of not to exceed $12,500,000 (the "Loan") for such purposes; and WHEREAS, the repayment obligations under the Loan Agreement shall be evidenced by a governmental agency bond (the "Bond") to be issued by the City to CWRPDA; and WHEREAS, such Loan shall be a revenue obligation of the City, payable from the Pledged Property (as defined in the Loan Agreement); and WHEREAS, the City's obligations under the Loan Agreement and the Bond (collectively referred to herein as the "Financing Documents") shall not constitute a general obligation of the City within the meaning of any constitutional, statutory or home rule charter provision or limitation; and WHEREAS, there have been presented to the City Council the forms of the Financing Documents; and WHEREAS, the City Council desires to approve the form of the Financing Documents and other documents referenced therein, authorize the execution thereof, and authorize the execution and delivery of the Bond; and WHEREAS, none of the members of the City Council have any financial interest or other potential conflicting !nterests in connection with the authorization or execution of the Financing Documents, or the use of the proceeds thereof. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Approvals, Authorizations, and Amendments. The forms of the Financing Documents presented at this meeting are incorporated herein by reference and are hereby approved. The City shall enter into and perform its obligations under the Financing Documents in the forms of such Documents, with such changes as are not inconsistent herewith and as are hereafter approved by the Mayor. The Mayor and City Clerk are hereby authorized and directed to execute the Financing Documents in substantially the forms approved by this Ordinance, and to authenticate and affix the seal of the City thereto. The Mayor, City Clerk and City Manager are further hereby authorized and directed to execute and authenticate such other documents, instruments, or certificates as are deemed necessary or desirable in connection with the City's performance of its obligations under the Financing Documents. The execution of any documents, instruments, or certificates by said officials shall be conclusive evidence of the approval by the City of such documents, instruments, or certificates in accordance with the terms thereof and this Ordinance. Section 2. Election to Apply Portions of the Supplemental Act. Section 11-57-204 of the Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, C.R.S. (the "Supplemental Act") provides that a public entity, including the City, may elect in an act of issuance 2