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<br /> ORDINANCE NO. 915 <br /> AN ORDINANCE AUTHORIZING THAT CERTAIN LEASE AND <br /> AGREEMENT BETWEEN LARIMER EQUIPMENT CO. , AS LESSOR, <br /> AND THE CITY OF LOUISVILLE, COLORADO, AS LESSEE, IN <br /> THE AGGREGATE PRINCIPAL AMOUNT OF $18,288.35 <br /> AND IN CONNECTION WITH PURCHASE OF A TRACTOR LOADER <br /> BACKHOE PROVIDING FOR LEASE PAYMENTS: AND PRESCRIBING <br /> OTHER DETAILS IN CONNECTION THEREWITH. <br /> WHEREAS, the City of Louisville, Colorado, is a political <br /> subdivision of the State of Colorado and statutory City organized and <br /> existing under the Constitution and laws of the State of Colorado <br /> (the "City"); and, <br /> WHEREAS, pursuant to Section 3l-15-80l, C.R.S. , the City is <br /> authorized to enter into long-term leasehold agreements with an <br /> option to purchase; and, <br /> WHEREAS, the City Council of the City (the "Council") <br /> hereby finds and determines that th e lease with the option to <br /> purchase certain equipment is appropriate and necessary for <br /> performing the authorized functions of the City and is in furtherance <br /> of the purposes of the City and the best interest of the residents <br /> thereof; and, <br /> WHEREAS, the Lease and Agreement shall not constitute a <br /> general obligation indebtedness of the City within the meaning of the <br /> Constitution and laws of the State of Colorado. <br /> NOW THEREFORE, BE IT ORDAINED BY THE THE CITY COUNCIL OF <br /> THE CITY OF LOUISVILLE, COLORADO: <br /> Section l. That the forms, terms and provisions of the <br /> -- hereby approved in <br /> Governmental Lease Purchase Agreement, be and are <br /> substantially the form set forth in the document presently before the <br /> Council. Tha t the City, acting through the Mayor, is hereby <br /> authorized and directed to enter into and execute and the Agreement <br /> in substantially the form set forth in the document presently before <br /> the Council, and the City Clerk is authorized and directed to affix <br /> the City's seal to and to attest and countersign such document, which <br /> doument shall be available for public inspection at the offices of <br /> the City Clerk. Tha t the Mayor and all other appropriate officers of <br /> the City are hereby authorized and directed to sign, file, or cause <br /> to be signed or filed, or approve, accept or concur in all necessary <br /> or appropriate documents for consummating the transactions <br /> contemplated by this ordinance and the Agreement. That the City's <br /> obligation under said Agreement shall be annually renewable by the <br /> City and expressly subject to annual appropriation by the Council. <br /> and that such obligation under said Agreement shall not constitute a <br /> general obligation of the City or an indebtedness within the meaning <br /> of the Constitution and laws of the State. <br />