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<br /> Purchase Agreement, and that such sale is to the best advantage of <br /> the City; and <br /> WHEREAS, there has been submitted to the Council the <br /> forms of the Escrow Agreement, the Reserve Account Escrow <br /> Aqreement, the Paying Agent and Registrar Agreement, and the <br /> Preliminary Official Statement (as defined herein); and <br /> WHEREAS, the Council desires to approve the execution of <br /> such documents in SUbstantially the forms presented, with only <br /> such changes as are consistent with this Ordinance; and <br /> WHEREAS, insofar as it is necessary to issue the Bonds <br /> immediately in order to take advantage of presently existing <br /> interest rates, the provisions of this Ordinance are necessary to <br /> the preservation of the pUblic health and safety, and shall take <br /> effect upon adoption; and <br /> WHEREAS, it is necessary to provide for the form of the <br /> Bonds, the Bond details, the payment of the Bonds, and other pro- <br /> visions relating to the authorization, issuance, and sale of the <br /> Bonds: <br /> NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE <br /> CITY OF LOUISVILLE, COLORADO: <br /> Section 1. Definitions. As used herein, unless the <br /> context clearly indicates otherwise, the following terms shall <br /> have the respective meanings set forth below: <br /> Bank: Central Bank Denver, National Association, in <br /> Denver, COlorado, or its successor, a commercial bank duly <br /> organized and existing under the laws of the United States of <br /> America, being a member of the Federal Deposit Insurance <br /> Corporation, and having full and complete trust powers, with which <br /> the Escrow Account and thp- Reserve AQcount are established and <br /> maintained. <br /> Bond Account: a special account of the City designated <br /> as the "City of Louisville Sewer Revenue Bond Account", created by <br /> the provisions of this Ordinance. <br /> - 54 - <br />