|
<br /> .L
<br /> ORDINANCE NO. ~{9
<br /> --
<br /> AN ORDINANCE AUTHORIZING THE ISSUANCE BY THE
<br /> CITY OF LOUISVILLE, COLORADO, OF SEWER REVENUE
<br /> BONDS, SERIES 1985, IN THE PRINCIPAL AMOUNT OF
<br /> $2,755,000, FOR THE PURPOSE OF PAYING THE
<br /> COSTS OF IMPROVING AND EXTENDING THE CITY'S
<br /> SEWERAGE S YS TEM ; PRESCRIBING THE FORM OF THE
<br /> BONDS; PROVIDING FOR THE PAYMENT OF THE
<br /> PRINCIPAL OF, PREMI UM IF ANY, AND INTEREST ON
<br /> THE BONDS FROM THE NET REVENUE DERIVED FROM
<br /> THE CITY'S SEWERAGE FACILITIES; PROVIDING
<br /> OTHER DETAILS IN CONNECTION THEREWITH; AND
<br /> DECLARING AN EMERGENCY.
<br /> WHEREAS, pursuant to Title 31, Article 35, Part 4,
<br />Colorado Revised Statutes, and all other laws thereunto
<br />appertaining, the City of Louisville, Co lorado (the IICityll) owns,
<br />operates, and maintains a municipal sewerage system (the
<br />II S Y stem II ) ; and
<br /> WHEREAS, in anticipation of the collection of the
<br />revenues of the System, the City is authorized to issue revenue
<br />bonds to finance in whole or in part the cost of acquisition,
<br />construction, reconstruction, improvement, betterment, or
<br />extension of such facilities, and to pledge to the payment thereof
<br />all or any part of the revenues of such facilities, including the
<br />revenues of improvements, betterments, or extensions thereto; and
<br /> WHEREAS, the City Council of the City (the IICouncilll)
<br />has determi ned that it is necessary to improve and extend the
<br />System (the IIprojectll); and
<br /> WHEREAS, the Council has determined that it is in the
<br />best interests of the City, and the inhabitants thereof, that
<br />sewer revenue bonds in the principal amoun t of $2,755,000 (the
<br />IIBondsll) be issued for the purpose of paying the costs of the
<br />Project; and
<br /> WHEREAS, the City has heretofore duly authorized, sold,
<br />issued, and delivered to the purchasers thereof $280,000 of its
<br />Sewer Revenue Bonds, dated December 1, 1975, of which issue there
<br />remains outstanding the total amount of $125,000 (the 111975
<br />Bondsll), and $575,000 of its Se we r Revenue Bonds, dated July 1 ,
<br /> - 2 -
<br />
|