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<br />RESOLUTION NO. 24 <br />SERIES 1978 <br /> <br />A RESOLUTION APPROVING AND ACCEPTING THE <br />PROPOAL BY THE UNITED BANK OF DENVER FOR <br />FURNISHING INTERIM FINANG ING FOR THE <br />PLANNED IMPORVEMENTS TO THE CITY'S WATER <br />SYSTEM. <br /> <br />WHEREAS, the City of Louisville has made application to, and <br /> <br />has been approved by, Fa~ner's Home Administration for a grant- <br />loan funding to improve and update the city's water system; and, <br />WHEREAS, it is necessary for the city to obtain interim finan- <br />cing pending the receipt lof the necessary funds from Farmer's Home <br /> <br />Administration to commencle work on this proj ect; and, <br /> <br />WHEREAS, the United Bank of Denver has agreed to advance funds <br />to a maximum of $344,000 to the city at an interest rate of 6% per <br /> <br />annum until March 31, 1979, as interim financing for this project. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> <br />OF LOUISVILLE, that the proposal for interim financing for the water <br />system project submitted to the city by the United Bank of Denver <br />is hereby accepted. The City Council further authorizes the open- <br />ing of a checking account in the name of the City of Louisville and <br />the Farmer's Home Administration to facilitate the disbursement of <br /> <br />the required funds and designates the Mayor, the City Treasurer, <br />and the City Clerk as the signers on the account on behalf of the <br /> <br />city. <br /> <br />Adopted this 1st day of August, 1978. <br /> <br />/l~ <br />,~ c . /. U'M <br />Mayor <br />I <br />~ <br /> <br />ATTEST: <br /> <br /> <br />,;Qfi1,Jll );J/ <br /> <br />, <br /> <br />City Clerk <br />