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RESOLUTION 22 - Series 1988 INTERGOVERNMENTAL AGREEMENT TH{ INTERGOVERNMENTAL AGREEMENT is made this -1 tA day of -<.A-~ , 1988, by and between the CITY OF LOUISVILLE (he einafter referred to as "Louisville") and the W-470 AU- THORITY (hereinafter referred to as "W-470"). WHEREAS, the parties have authority to enter into this Agree- ment pursuant to Article XIV, Section 18(2) of the Constitu- tion of the State of Colorado and to Section 29-1-203, C.R.S. (1986) and to Section 43-4-506, C.R.S. (1987); and WHEREAS, the authority of Louisville and W-470 to enter into this Agreement, as well as the authority of the representa- tives signing this Agreement from Louisville and W-470, 1S evidenced by an appropriate, duly adopted resolution of Lou- isville and W-470, which resolutions are attached hereto and incorporated herein by this reference; and WHEREAS, on January 6, 1988, the W-470 Board of Directors adopted Resolution No. 18, attached hereto as Exhlbit "A", which provided for the Members to the W-470 Authority to loan specific amounts to the Authority to enable the Authority to enter into contracts for the purpose of preliminary engineer- lng, toll forecasting and land use study services (the "Con- tracts" ) ; and WHEREAS, LouisY111e is desirous of entering into a formal contract to further memorialize the terms of Resolution No. 18. NOW, THEREFORE, IT IS AGREED THAT: 1 . Louisville agrees to loan to W-470 the amount of $29,360, constituting 4% of the total amount of funds loaned to W-470 for the Contracts as described in W-470's Resolution No. 18. 2 . W-470 agrees to repay such loan only from the proceeds of bonds or other obligations issued by or for the benefit of W-470. W-470 sha 11 repay such loan from the pro- ceeds of the first such bonds or other obligations. W-470's duties hereunder shall be included in the sizing of W-470's first issuance of bonds or other obligations. It is the in- tention and expectation of W-470 to complete the issuance of such bonds or other obligations on or before December 31, 1991 , and the repayment of such loan from Louisville to W-470 sha 11 be due and payable on or before December 31, 1991 .