HomeMy WebLinkAboutORDINANCE 09-92C,0
ORDINANCE NO.9-92
AN ORDINANCE AUTHORIZING THE APPROVAL OF THE
FIRST AMENDMENT TO THE TOWN OF ESTES PARE
LOAN AGREEMENT SMALL WATER RESOURCES PROJECT
WHEREAS,The Colorado Water Resources and Power Authority,
(the “Authority”)and the Town of Estes Park,(the “Governmental
Agency”)entered into a Loan Agreement dated as of July 15,1991
for the financing of a portion of the cost of a small water
resources project (the “Project”)and the Governmental Agency has
executed its Governmental Agency Bond to evidence said loan from
the Authority;and
WHEREAS,the Authority has issued its Authority Bonds to
finance the Project Account from which the amounts loaned to the
Governmental Agency have been taken;and
WHEREAS,the Governmental Agency has informed the Authority
that the project will be completed without expending all of the
budgeted contingency funds;and
WHEREAS,The Governmental Agency has notified the Authority
of another project that would meet the requirements of the loan
agreement and the bond resolution for the utilization of a
portion of the remaining loan proceeds in the tine allowed;and
WHEREAS,the Governmental Agency has requested that Exhibit
A (1)Description of Project in the Loan Agreement be amended to
include “Water main transmission construction,pressure reducing
stations and other capital projects associated with the Town’s
distribution and water supply system”.
NOW,THEREFORE,BE IT ORDAINED BY THE BOARD OF TRUSTEES OF
THE TOWN OF ESTES PARK,COLORADO:
1.The Governmental Agency hereby authorizes the amendment
to Exhibit A (1)of the Loan Agreement between the Governmental
Agency and the Authority dated as of July 15,1991 as follows:
Exhibit A (1)Description of Project is amended to read as
follows:
A new MGD water treatment facility at
Mary’s Lake to be sited on United States
property above the Nary’s Lake power plant
which will replace the deteriorating Big
Thompson water treatment plant and small
Crystal treatment plant,thereby improving
System reliability and efficiency;water main
transmission construction,pressure reducing
stations and other capital projects
associated with the Town’s distribution
system and water supply system.A 1 MG
storage reservoir is proposed adjacent to
said plant.The plant will be connected to
the existing system via 12”water lines and
pump stations.
0 0
2.The adoption of this Ordinance is hereby declared an
emergency in order to immediately authorize the amendment of the
Loan Agreement to allow for the immediate construction of water
main transmission systems;and WHEREAS,it is the opinion of the
Board of Trustees that an emergency exists and this Ordinance
shall take effect and be enforced immediately after its passage,
adoption and signature of the Mayor.
PASSED AND ADOPTED BY THE TRUSTEES OF THE TOWN OF ESTES
PARK,COLORADO THIS /j_&DAY OF
___________
,1992.
TOWN OF ESTES PARE
By:_______
M yor
ATTEST:
Town Clerk
I hereby certify that the above Ordinance was introduced and read
at.a meeting of the Board of Trustees on the /3g day of
____________
1992,and published in a newspaper of general
circi%ation in the Town of Estes Park,Colorado on the /day
of {VtJjAj ,1992.
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