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and the motion was passed unanimously. <br />RESOLUTION #4 Rautenstraus read in its entirety Resolution #4, <br />"A Resolution expressing the intent of the City of <br />Louisville to Issue Industrial Development Revenue <br />Bonds to Finance a Project for Westwind <br />Properties, a Colorado General Partnership." <br />Hundley gave Council background information <br />regarding the availability of Louisville's IDB's <br />allocation in the amount of $467,025 based on a <br />population of 6220 at $75 per capita. However, on <br />May 15th, the state will recapture all monies not <br />allocated by all the municipalities in the State <br />of Colorado and make that money available on a <br />first come first serve basis to people who have <br />expressed an interest in using it. <br />Leary expressed a <br />knowledge in coming <br />available. <br />Tom Fallecienski, <br />Attorneys at Law in <br />explained to Council <br />City would loose :its <br />to receive more than <br />entire $467,025 has <br />applicants would be <br />recaptured by the <br />$1,700,000. <br />desire to make it public <br />years that these monies are <br />of Lamm Estrom & Braymer, <br />Denver representing SCOPE, <br />that as of May 15, 1985, the <br />entire allocation. In order <br />the City's allocation, the <br />to be allocated and then <br />considered for any monies <br />State. SCOPE is seeking <br />Upon passing this resolution, SCOPE will submit an <br />application to t11e State. Under the Governors <br />recent executive order, SCOPE has 91 days or until <br />May 15, 1985 (whichever is earlier) to proceed and <br />conform to Federal Regulations. <br />Luce asked that staff investigate the City's <br />ability to have the population updated thereby <br />increasing Louisville's allocation for 1986. <br />Bruce Miller, partner in Westwind Properties and <br />president of SCOPI? Manufacturing was asked by Luce <br />if any potential waste products would be produced <br />by their manufacl:uring process and if there are <br />any environmenta7L impacts. Miller gave a brief <br />description of the company and indicated that <br />whatever is flushed down into the sewer system is <br />well within the guidelines outlined by the <br />government and the City of Louisville. Miller <br />further stated tYiat if SCOPE did not receive the <br />IDB's, they wou]_d seek financing through other <br />sources. <br />5 <br />