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RESOLUTION 1137 SERIES 1985 A RESOLUTION AGREEING TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS TO FINANCE A MANUFACTURING FACILITY FOR CYBERMEDIC, INC. WHEREAS, the City of Louisville, Colorado (the "City"), is authorized by the County and Municipality Development Revenue Bond Act, cited as Article 3 of Title 29 of the Colorado Revised Statutes (the "Industrial Development Revenue Bond Act"), to finance, upon such condi~ions as the City Council of the City (the "Council" ) may deem advisable, the construction of manufac- turing facilities: and WHEREAS, the City is further authorized by the Indus- trial Development Revenue Bond Act to issue its industrial development revenue bonds for the purpose of defraying th~ cost of financing any such project; and WHEREAS, the City's ability to issue industrial develop- ment revenue bonds is subject to the limitations set forth in Part l4 of Article 32 of Title 24, Colorado Revised Statutes (the "Private Activity Bond Act"); and WHEREAS, representatives of Cybermedic, Inc. ( "Cyber- medic" ) have met with officials of the City and have advised the City of Cybermedic's interest in constructing a manufacturing facility and headquarters within the City, including without limitation the acquisition and development of land therefor (collectively the "Project") , subject to the willingness of the City to issue industrial development revenue bonds pursuant to the Industrial Development Revenue Bond Act and the Private Acti- vity Bond Act for financing all or a portion of the cost of the Project: and WHEREAS, the Project will be owned and operated by Cybermedic; and WHEREAS, the Council has considered the request of Cybermedic and has concluded that the Project will promote econ- omic activity, employment and the maintenance of a balanced and stable economy in the City and desires to express its intent to proceed with the issuance of industrial development revenue bonds to finance the Project, subject to the conditions set forth herein; and NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: SECTION 1. In order to assist and to induce Cybermedic to locate and complete the Project within the corporation bound- aries of the City, it is the Council's intent to take all steps necessary or advisable to effect the issuance of industrial deve- :