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R£SOCtTIO` V0. 5 <br /> Series l9:0 <br /> A nEsoLVTI O:. APP:IOV I::G ANO ACCEPTING <br /> THE PROPOSAL BY %ME UAITED BA\,T OF <br /> DE;.YER FOR FCR.ti'2 uro INTER=! rl:.Axc•IUG ..�. <br /> ma THE PLANNED 3:zPROt'E:IERRTTS TOT= •ft. <br /> - CITY'S WATER 51'STE2t. <br /> WHEREAS, the City of Louisville has made application to; - y.� c <br /> and has been approved by Farmer's Home Administrations for a Brant-- <br /> loan funding to improve and update the City's water systole; and. <br /> WHEREAS. it is necessary for the City to obtain Interim <br /> Pinancinz pending the receipt of the necessary funds from Farmer's <br /> Home Administration to commence work on this project; and <br /> ;.NEREAS, the United Bask of Denver has agreed to advance <br /> funds to a maximum of $344,000 to the City at an interest rate of <br /> 7; per annum until July 1, 1979, as interim financing for this <br /> project. <br /> NO , THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br /> THE CITY OF LOUISVILLE: <br /> That the proposal for interim financing for the water <br /> system project submitted to the City by the United Bank of Denver <br /> is hereby accepted. The City Council further authorizes the opening <br /> of a checking account in the name of the City of Louisville and the <br /> Farr.,_r's ::-one Administration to facilitate the disbursement of the <br /> required funds and designates the :ayor, the City Treasurer, and <br /> the City Clerk as the signer of the account on ''eh'lf of the City. <br /> Adopted this 20th day of a!:1.1%:Il, 1970. <br /> :1s3•o r <br /> J TT::5T: <br /> City Clerk <br />