Resolution 1988-50 - Laserfiche WebLink

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E. On August 17, 1988, the Board of Directors of the Authority adopted Resolution No. 88-12, a copy of which is attached hereto as Exhibit A, setting forth some general guidelines relating to the financing plan for W-470. It is not feasible at this time to adopt a financing plan that is any more specific than the one set forth in Resolution No. 88-12. F. This First Amendment is being entered into in order to allow the Authority to comply with Section 6.2 of the Agreement in connection with the vehicle registration fee referendum. AGREEMENT NOW, THEREFORE, for and in consideration of the mu- tual covenants set forth below and in order to allow the Au- thority to establish a $10 per year vehicle registration fee within designated portions of the boundaries of the Members fOllowing approval of a referendum tentatively scheduled for February 7, 1989, the Members hereby agree as follows: Section 1. Financinq Plan. The requirement of Section 6.2 of the Agreement that a Financing Plan be adopted prior to the effectiveness of any revenue generating fee or laz is hereby waived with respect to the establishment of a $10.00 per year vehicle registration fee within designated portions of the boundaries of the Members of the Authority following a referendum thereon tentatively scheduled for Feb- ruary 7, 1989. It is expressly agreed that the Financing Plan required pursuant to Section 6.2 of the Agreement shall be required as provided in said Section prior to any action by the Authority to establish or create any local improvement district pursuant to Section 5.3 of the Agreement, any value capture area pursuant to Section 5.4 of the Agreement, any highway expansion fee pursuant to Section 5.2 (j) of the Agreement, any sales or use tax imposed pursuant to Section 5.2 (1) of the Agreement, any tax on the privilege of employ- ment imposed pursuant to Section 5.2 (m) of the Agreement, or any tax on the privilege of conducting any trade, business, occupation or profession imposed pursuant to Section 5.2 (n) of the Agreement. Section 2. Governinq Law. The laws of the State of Colorado shall govern the construction and enforcement of this First Amendment. Section 3. Counterparts. This First Amendment may be executed in any number of counterparts, each of which, when so executed and delivered, shall be an original; but such counterparts shall together constitute but one and the same First Amendment. (W0363a) -2-