City Council Agenda and Packet 1979 12 18

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--v-:r °7 ,r 40-WWIT .._ - .��y `• . nY Howard Barr' - - ORDT NA`C E NO. SS* - Series of 1979 AN ORDINANCE AUTHORIZING THE ISSUANCE OF A SPECIAL OBLIGATION NOTE IN A TOTAL PRINCIPAL AMOUNT OF $919,375.00 OF THE CITY OF LOUISVILLE, COLORADO, FOR TUB PURPOSE OF RENOVATING AND IMMPROVING THE CITY BALL= RATIFYING THE CONTRACT FOR SUCH RENOVATION AND IMPROVE:4iN'fi PLEDGIUG CERTAIN SALES TAX RECEIPTS FOR THE PAYMENT OP SAID NOTE AND THE INTEREST THSPEON, AND PRESCRIBING OTHER DETAILS IN CONNECTION THEREWITH. • WHEREAS, the City of Louisville, Boulder, Colorado is a Statutory City operating pursuant to C.R.S. 1973 531-1-201; and WHEREAS, the City Council deems it necessary and advis- able that the present city hall facility be renovated, im- proved, and enlarged in order to provide sufficient office space for the conduct of the City's affairs; and WHEREAS, the City has entered into a contract dated , 1979 between the City of Louisville, Colorado, and Commercial Industrial Construction, Inc. for renovation, ir..orovenent and enlargement of the present City Hall; and WHEREAS, the City does not have in its treasury sufficient funds to make payment to the contractor for the renovation, improvement, and enlargement of the City Hall and therefore, the City Council deems it necessary and advisable to issue a Special Obligation Note, hereinafter described, for that purpose; and [•'IIEREP►S, in hove:tber, 1975, the qualified electors of the City of Louisville, Colorado, approved Sales Tax Ordinance Imo. 479 iwponing on all sales of tangible personal property at retail or the furnishing of services, as provided in . C.H.S. 1973 S39-26-104 , as ai- tided, a tar_ equal to 2 percent of LLu.' gross: rceci.pt; itttd 1'ilni nAS, said Sales Tax Ordinance provides , at Set:Lion G-2, that. the Ci Ly Crt:ttc:i 1 r. :t, am and, .tl t.&!r. , or c}t:tn:Jpa said Ordinance nuh.;t cl't.:nc e::c:rpt an to the ratr, or art