Ordinance 1985-856 - Laserfiche WebLink

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NHEREAS, the funds from the proceeds of the Bond is s ue will be made ava il able to Klister Pr'opert ies, a Colorado ge ner al partnership ( the "Borrower" ) , for the acquisition and construction of the Project: , WHEREAS, the initial owner, operator, and manager of the Project will be the Borrower: and WHEREAS, the following documents have been submi tted to the Co unc il and filed in the office of the City Clerk (the "CI erk" ) and ar e there available for publ ic inspection: (a) a Loan Agreemen t, to be da ted as of the date of delivery of the Bond ( the "Loan Agreemen t" ) , proposed to be made and entered into amo ng the Iss uer , the Borrower, and Firs t Na tio nal Bank in Boulder, in Boul der, Colorado ( the "Lender"): and (b) a Deed of Trust and Assignment of Rents and Leases, to be da ted as of the da te of delivery of the Bond ( the "Deed of Tr us t " ) amo ng the Borrower, the Publ ic Tr us tee of the Co un ty of Boul der, and the Lender: and (c) a Guaranty Agreement, to be da ted as of the da te of delivery of the Bond (the "Guaranty Agreemen t ") , be twee n Scope Manufac tur ing , Inc. , a Colorado corporation ( the " G u a ran to r It ) , and the Lender: and WHEREAS, it is necessary to author ize the issua nce of the Bond by Ordinance and to approve the- form and author ize the execution of documents in connection with the issuance thereof: and WHEREAS, pursuant to Sections 103(b), 103(k) and 103(1) of the In tern al Revenue Code of 1954, as ame nded, in order to secur e a feder al tax exemption for the in teres t on the Bond is s ue d by the Iss uer to finance the Project, the Iss uer must make an election to is s ue such 80 nd , such Bond must be approved by the elected 1 egi sla tive body of the Is suer after a publ ic hear ing following reasonable public no tic e , and the Is s ue r must submi t a report concerning the iss uance of the SO nd to the Secretary of the Treasury no 1 a ter than the 15th day of the 2nd cal endar month I after the close of the c ale ndar q uar ter in which the Bond is i s s ue d ; - 3 - -