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to the meeting. State Statute only requires <br /> the ordinances be published in fool/ after fj , <br /> reading and after adoption. Adoption of <br /> ordinance will avoid the necessity of reading , : <br /> during the Council Meeting lengthy ordinances. <br /> Mayor ?auson closed the public hearing and called <br /> for a motion. Kohr moved and Mayor Faust.* <br /> seconded to adopt ordinance #953, Series 19es. <br /> By boll Call vote, the motion passed unanimously. <br /> Anderson and Sackett asked to be excused during the proceedings on the wk.% <br /> three Agenda Items, Ordinance 1959, Series 198$ as relates to the gol# <br /> course, Authorisation to Reject Golf Course Management Ride, as► ' <br /> Authorisation to Rid Golf Course Project due to possible conflict K; <br /> . ^ : <br /> • <br /> ss9 , miaow& at cast m $410/2/46-1:k <br /> ', ACV cows sows. ' .P C SWIM ,Intiodaosd and read. in eta entirety-, ordina P- <br /> 1959, Series i98s, *Bra Or'dinanos of the City od',,k <br /> Louisville, Colorado concerning the financing at. �, <br /> municipal golf course, authorising the eaoiontio■ rt. <br /> of a golf course lease purchase agreement and ' <br /> authorising and approving certain related <br /> transactions.' <br /> Stahl explained that during the past •evral: : <br /> months, the staff in conjunction with several <br /> property owners and a golf course advisory group <br /> has been working with Dick Phelps to finalise the <br /> design of a public golf course on the Coal Creek <br /> Ranch site. A review and recommendation to <br /> Council has been presented a proposal for <br /> financing of the project. <br /> Blake Jordan, Lama • sdetroar, the City's Bond <br /> Counsel, as well as Russ Caldwell, Rircbner Moore, <br /> presented the differences between the initial <br /> proposal (Ordinance #953 ) and this proposal <br /> (Ordinance 1959). <br /> Mr. Caldwell explained that the purchasers of the <br /> bonds came to Louisville and did their own <br /> evaluation of the site and all the features of the <br /> golf course. The changes within this ordinance <br /> that occurred were a result of discovering that <br /> other transactions relative to golf course <br /> projects similar to this (only two that kr , <br /> Caldwell is aware of in other states) resulted in <br /> the bond purchasers having a trustee and the <br /> trustee had a lien on the property. Therefore, <br /> Mr. Caldwell looked at what model that could be <br /> crested under Colorado law which would allow the <br /> City to achieve the same thing that would get the <br /> 2 <br /> • <br />