Laserfiche WebLink
<br />I <br />the meaning of any provision or limitation of the <br />Con titution or statutes of the State, and that they <br />sha I not constitute or give rise to a pecuniary <br />lia ility or a charge against the general credit or <br />tax'ng powers of the City, the State of Colorado, or <br />any political subdivision thereof. <br />( f ) In authorizing the issuance of the Bonds pursuant <br />to his Agreement, the City will make no warranty, <br />eit er expressed or implied, that the proceeds of the <br />Bon s will be sufficient to pay all costs of the <br />Project. <br />3. Undertakings on the Part of the User. The User <br />agrees as fol ows: <br /> ( a) The User will enter into a contract or con- <br /> ts for the site development and construction, <br /> ovement, and equipment of the Project. <br /> \ <br /> (b) Prior to the delivery of the Bonds, the User <br />will enter into the Loan Agreement with the City under <br />the terms of which the User will obligate itself to <br />com lete the site development and construction, im- <br />pro ement, and equipment of the Project and, to the <br />extent not payable out of proceeds of the Bonds, to pay <br />to he City sums sufficient in the aggregate to payor <br />rei burse the City for all reasonable expenses incurred <br />by t in connection with the authorization, issuance, <br />and sale of the Bonds, including without limitation the <br />reas nable expenses that the City deems necessary for <br />attorneys' , accountants' , and auditors' fees and ex- <br />penses, and to make loan repayments sufficient to pay <br />the rincipal of, premiums, if any, and interest on the <br />Bonds as and when the same shall become due and pay- <br />abl , all fees and expenses of any trustee for the <br />benefit of the holders of the Bonds incurred under any <br />tru t indenture, all utility charges, taxes, as- <br />sess ents, casualty and liability insurance premiums, <br />and any other expenses or charges relating to the <br />ownership, use, operation, maintenance, occupancy and <br />upkeep of the Project, such Loan Agreement to contain <br />such other provisions as may be required by law and as <br />sha I be mutually acceptable to the City and the <br />User. <br /> ( c) The User will take such further action and <br /> such further proceedings as may be required to <br /> ment its aforesaid undertakings or as it may deem <br /> priate in pursuance thereof. <br /> A-3 <br />