Ordinance 1988-952 - Laserfiche WebLink

Home Browse Search

redemption premiums) to become due from the date of computation to the date of maturity of the latest maturing obligation of any of said issues, divided by the number of years between said dates~ provided that if any particular issue has a single principal payment date and is issued as interim notes or securities in anticipation of permanent financing, such principal amount shall be excluded from this computation~ provided further that such computation shall assume the redemption and payment of bonds or other obligations subject to mandatory redemption, but shall be made without regard to optional redemption. Construction Fund: the fund of the City designated as the "Golf Course Construction Fund", created by the provisions of this Ordinance for the purpose of paying the Project Costs. Council: the City Council of the city. C.R.S. : the Colorado Revised statutes, as amended and supplemented as of the date hereof. Development Fees: all fees and revenues received by the City pursuant to paragraphs 19 and 20 of the Annexation Agreement and paragraph 13 of the Exchange Agreement. Event of Default: any one or more of the events set forth in Section 24 of this Ordinance. Exchange Agreement: that certain Agreement to Exchange Real Estate, Louisville, Colorado, dated March 1, 1988, between the City and Homart Development Co. , a Delaware corporation, including any amendments or supplements thereto made in accordance with the provisions of this Ordinance. Federal Securities: direct obligations of, or obligations the principal of and interest on which are uncondi- tionally guaranteed by, the United states of America. Fiscal Year: the twelve (12) months commencing January 1 of any year and ending December 31 of said year. Golf Course: the 18-hole municipal golf course to be generally located on approximately 150 acres of land along Coal Creek in the south-central portion of the City, north of U.S. - 5 -