City Council Minutes 1997 01 14 - Laserfiche WebLink

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CITY OF LOUISVILLE JANUARY 14,1997 SPECIAL COUNCIL MEETING The City Council of the City of Louisville met in a special session in the Council Chambers at City Hall, 749 Main Street, Louisville, Colorado. Mayor Tom Davidson called the meeting to order at 7:00 p.m. and the following persons were present - City Council: Mayor Tom Davidson, Rob Lathrop, Tom Mayer, Jay Keany, Arnold Levihn, Kevin Howard StaffPresent: Bill Simmons, City Administrator Also Present: Tami Tanoue, Griffiths & Tanoue APPROVAL OF AGENDA Davidson called for any changes to the Agenda. NONE Davidson moved that Council approve the Agenda. All in favor. REGULAR BUSINESS RESOLUTION NO. 2, SERIES 1997 - DECLARING THE INTENT OF THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS Sisk asked to be excused due to a conflict of interest. Davidson excused Sisk. Bill Simmons, City Administrator, stated that Key Products, through O'Connor Construction, has approached the City requesting the City Council adopt an inducement resolution that would permit Key Products to submit an application to the State of Colorado seeking a portion of the available statewide balance of private activity bonds, or industrial development revenue bonds, in the amount of $2 million for the construction of up to a 70,000 sf. manufacturing facility to be located in a to be platted area of the Colorado Tech Center. The City Administrator reviewed portions of the resolution with Council and also pointed out the letter from Sherman and Howard, Bond Counsel to the City, on this proposed financing issue. If approved by the Council, the inducement resolution only allows Key Products to submit its application to the state, the deadline for which is January 13, 1997.