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<br /> lopment revenue bonds in the maximum aggregate principal amount <br /> of $5,000,000, or such lesser amount as shall be determined and <br /> agreed upon by Cybermedic and the City, to finance all or a por- <br /> tion of the cost of the Project. The City hereby acknowledges <br /> and consents to Cybermedic's selection of Kirchner, Moore & Co. <br /> to underwrite such industrial development revenue bonds. <br /> SECTION 2. No costs or expenses shall be borne by the <br /> City in connection with the issuance of such industrial develop- <br /> ment revenue bonds, the preparation of any documents relating <br /> thereto or any legal or financial consultants retained in connec- <br /> tion therewith. <br /> SECTION 3. Prior to the execution of the financing <br /> documents in connection with the Project and such industrial <br /> development revenue bonds, such documents shall be subject to <br /> authorization by the City pursuant to law. <br /> SECTION 4. The agreements of the City set forth above <br /> are expressly conditioned upon the ability and willingness of <br /> the City to issue, as a portion of the allocation available to <br /> it under the Private Activity Bond Act, such industrial develop- <br /> ment revenue bonds as tax-exempt obligations under the federal <br /> income tax laws applicable on the date of issuance of such bonds. <br /> SECTION 5. Nothing contained in this resolution or <br /> such bonds shall constitute the debt or indebtedness of the City <br /> within the meaning of the Constitution or statutes of the State <br /> of Colorado or give rise to a pecuniary liability of the City <br /> or a charge against its general credit or taxing powers. <br /> ADOPTED this December 17, 1985. <br /> CITY OF LOUISVILLE, COLORADO <br /> By: d1rJ4~ <br /> Mayor <br /> (SEAL) <br /> ATTEST: <br /> By~~'4-LC'=< <br /> City Clerk <br />