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<br /> Agreements relating to each series dated as of July 15, 1988 <br /> (the "Porter Agreements"), among the City, the Corporation, <br /> and Porter Memorial Hospital; (4) the proposed forms of <br /> Indentures of Trust relating to each series dated as of <br /> July 15, 1988 (the "Indentures"), between the City and First <br /> Interstate Bank of Denver, N .A. , as Trustee (the "Trustee"); <br /> (5) the Bond Purchase Agreement (the "Bond Purchase <br /> Agreement"), among the City, the Corporation, Miller & <br /> Schroeder Financial, Inc. and Merrill Lynch Capital Markets <br /> (the "Underwriters"); (6) the Tax Regulatory Agreement dated <br /> as of July 15, 1988 (the "Tax Regulatory Agreement") between <br /> the City and the Corporation; and (7) the form of the <br /> Preliminary Official Statement (the "Preliminary Official <br /> Statement"), to be distributed by the Underwriter to <br /> prospective purchasers of the Bonds. <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF <br /> THE CITY OF LOUISVILLE, COLORADO: <br /> Section 1. All action (not inconsistent with the <br /> provisions of this ordinance) heretofore taken by the City <br /> Council of the City and the officers of the City directed <br /> toward the financing of the cost of the Project and the <br /> issuance and the sale of the Bonds therefor be, and the same <br /> is, hereby ratified, approved, and confirmed. <br /> Section 2. The City shall finance the cost of the <br /> Project in accordance with the provisions of the Agreements. <br /> Section 3. The City Council of the City hereby finds <br /> and determines that: <br /> (a) The amounts necessary in each year to pay the <br /> principal of and interest on the Bonds assuming the <br /> maximum interest rate are set forth in Schedule I <br /> attached hereto; <br /> (b) The issuance of the Bonds, in order to finance <br /> the cost of the Project, will promote the public health, <br /> welfare, safety, convenience and prosperity of the City <br /> and its inhabitants by promoting and stimulating more <br /> adequate health care; <br /> (c) The Bonds and the interest accruing thereon <br /> shall never constitute the debt or indebtedness of the <br /> City within the meaning of any provision or limitation <br /> of the Constitution or statutes of the State, and shall <br /> not constitute nor give rise to a pecuniary liability of <br /> the City or a charge against its general credit or <br /> taxing powers; <br /> -3- <br /> 1342K <br />