Revitalization Commission Resolution 13-02

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Louisville Revitalization Commission Core Area Infrastructure Project Term Sheet May 13,2013 Dated Date: Closing date (30 days after final subdivision plat and final PUD approvals.) Par Amount: Not to Exceed $4,000,000. Final amount will be determined by LRC with reference to the financial consultant report and approved plans. Final Maturity: December 1, 2033. Any amounts remaining unpaid will be discharged. Interest Rate: 7%. Simple interest calculated on a 30/360 basis. Interest Payment Dates: December 1 of each year, commencing the first December 1, after closing. Tax Status: Tax-exempt, Bank Qualified,Non-AMT Redemption: LRC may redeem bonds at its option after the five-year anniversary of the bond issuance. The pledged revenues after paying accrued but unpaid interest shall be used on each December 1 to prepay principal. Rating: None Pledged Revenue: The property tax increment revenues from the Highway 42 Core Project TIF Area (as described in the map attached Exhibit A). The base value for determining the increment will be the 2012 assessed value as determined by the Boulder County assessor. The pledge is subordinate to obligations to the City pursuant to two Cooperation Agreements and to the County pursuant to an IGA. Denominations: $500,000 Denominations or integral multiples of$1,000 above $500,000. Additional Bonds: No debt payable from the Pledged Revenue without consent of bondholders. Closing Conditions: Approval of the final subdivision plat and final PUD for the DELO project. Dedication of ROW for infrastructure. Execution of Core Area Infrastructure Agreement, in form and substance satisfactory to LRC and the City. Evidence the developer has obtained access to private financing adequate for completion of the DELO private improvements. Submittal of final construction plans for infrastructure. (Note: Developer shall be responsible for infrastructure costs in excess of amounts available from financing.) 01'1