City Council Minutes 1981 01 06 - Laserfiche WebLink

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PUBLICATION ORDINANCE #712 - PROVIDING FOR THE ISSUANCE OF INDUSTRIAL REVENUE BONDS - REGAL INVEST- MENT ASSOCIATES $360,000 MAYOR CARANCI PUBLICATION ACCEPTANCE OF CITY ATTORNEYS REPORT CITY ADMINISTRATOR'S REPORT WATER STORAGE APPLICATION 1/6/81 Page - 4 - Councilman Domenico moved that Ordinance #711 be published. Seconded by Council- man Cummings. Question called for. All in favor. Motion carried 6-0. Each member of council had before them a copy of the ordinance for their review and files. Attorney Joss read the ordinance by title only. He informed council the industrial revenue bonds were to finance a medical center and office complex located on the corner of Garfield and So. Boulder Road and council was being asked to sponsor the revenue bonds. Council had previously passed the resolution of intent October 7, 1980. The property owners are responsible for the payment of the bonds with no indebted- ness whatever to the City. Representa- tives of the bank and developers were present to answer any questions. Noted that the payments were for 15 years and the final payment was for $303,763.05, was it the developers in- tent for this large final payment. Mr. Charles Bellock replied it was. Councilman DelPizzo moved that Ordinance #712 be sent out for publication. Seconded by Councilman Cummings. Question called for. All in favor. Motion carried. 6-0. Councilman DelPizzo moved that the City Attorney's report be accepted and placed on file. Seconded by Councilman Fauson. Question called for. All in favor. Motion carried. Administrator Wurl informed Council that for sometime staff had been working on a project to extend Harper Lake as a storage site for water and in addition some required improvements at our exist- ing reservoir. He also stated that Noel Hobbs had prepared an application to the Colorado Water Conservation Board for funds to do the project. Administrator Wurl was requesting Council's approval to submit the application.