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RESOLUTION 27 - 1985 OF THE COUNCIL OF THE CITY OF LOUISVILLE . SETTING FORTH THE INTENTION OF THE CITY OF LOUISVILLE, COLORADO TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS FOR CENTENNIAL CENTER PARTNERSHIP WHEREAS, representatives of Centennial Center Partnership, a Colorado partnership ( "Company" ) have met with officials of the City of Louisville (the "City"), and have advised the City of the interest of the Company in acquiring land and constructing and equipping commercial buildings in the City, subject to the willingness of the City to finance the project (the "Project") by the issuance of industrial development revenue bonds, pursuant to the Colorado County and Municipality Development Revenue Bond Act constituting Article 3, Title 29, Colorado Revised Statutes, as amended (the "Act"): and WHEREAS, Company has represented to the City that the Project will qualify as a project within the meaning of the Act; and WHEREAS, the Project consists of the acquisition and development of land and the construction and equipping of commercial buildings designed to house non-polluting businesses engaged in commercial oriented enterprises which will create additional and retain existing jobs within the City; and vVHEREAS, the Council has considered the proposal and has concluded that the economic benefits to be derived therefrom by the City will be substantial; and WHEREAS, the Council has determined the Project to be cons.istent with the goals and objectives of the City: an.d WHEREASu the Council desires to indicate its intent to proceed with financing the Project through the i.ssuance of such revenue bonds. NOW~, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LOUISVILLEf COLORADO Section l. In order to induce the Company to locate and construct the Project within the City, the City shall, subject to the provisions hereof, take all necessary and advi.sable steps to effect the issuance of industrial development revenue bonds (the '!Bonds" ) pu}:,suant to the Act in the maximum aggregate principal amount of Seven Million Dollars ($7,000,000) or such lesser amount as shall b~?; determined and agreed upon by the Company and the City to finance the Project.