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<br />ORDINANCE NO. 1170, SERIES 1994 <br /> <br />AN ORDINANCE OF THE CITY OF LOUISVILLE AUTHORIZING THE ISSUANCE <br />OF THE CITY OF LOUISVILLE, COLORADO, OPEN SPACE SALES AND USE TAX <br />REVENUE BONDS, SERIES 1994, IN THE TOTAL AGGREGATE PRINCIPAL <br />AMOUNT OF $2,035,000, FOR THE PURPOSE OF ACQUIRING LAND FOR OPEN <br />SPACE BUFFER ZONES, TRAILS, WILDLIFE HABITATS, WETLAND <br />PRESERVATION AND FUTURE PARKS; PRESCRIBING THE FORM OF SAID <br />BONDS; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST <br />ON SAID BONDS FROM THE REVENUES OF THE OPEN SPACE SALES AND USE <br />TAX IMPOSED BY THE CITY AND PLEDGED TO THE CITY'S OPEN SPACE <br />CAPITAL IMPROVEMENT FUND; DECLARING AN EMERGENCY AND PROVIDING <br />OTHER COVENANTS AND DETAILS IN CONNECTION THEREWITH. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LOUISVILLE, <br />COLORADO, ORDAINS: <br /> <br />Section 1. Definitions. As used herein, unless the context requires otherwise, the <br />following capitalized terms shall have the following meanings: <br />Beneficial Owner: any Person for which a Participant acquires an interest in the <br /> <br />Bonds. <br /> <br />Bond Account: a special account of the Open Space Capital Improvement Fund <br />established hereby for the purpose of paying the principal of and interest on the Bonds. <br />Bond Insurance Policy: the municipal bond insurance policy issued by the Bond <br />Insurer guaranteeing the scheduled payment of principal of and interest on the Bonds. <br />Bond Insurer: Financial Security Assurance Inc., a New York stock insurance <br />company, or any successor thereto. <br />Bond Purchase Agreement: the Bond Purchase Agreement between the City and the <br />Purchaser dated the date of this Ordinance. <br />Bond Registrar or Registrar: Colorado National Bank, Denver, Colorado, or its <br />successor, which shall perform the registration and transfer functions as set forth in this Ordinance <br />and the Paying Agent Agreement. <br />Bond Reserve Insurance Policy: any insurance policy, surety bond, irrevocable letter <br />of credit or similar instrument deposited in or credited to the Reserve Fund in lieu of or in partial <br />substitution for moneys on deposit therein. The issuer providing any such Bond Reserve Insurance <br />