HomeMy WebLinkAboutORDINANCE 16-91&0
ORDINANCE NO:16-91
AN ORDINANCE AUTHORIZING EXECUTION AND
DELIVERY OF A LOAN AGREEMENT AND
GOVERNMENTAL AGENCY BOND
BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF ESTES
PARK,COLORADO:
WHEREAS,the Colorado Water Resources and Power Development
Authority (the “Authority”)has issued its Small Water Resources
Revenue Bonds,1991 Series A to finance a loan to The Town of
Estes Park,(the “Governmental Agency”)pursuant to a Loan
Agreement (the “Loan Agreement”),dated as of July 15,1991,
between the Authority and the Governmental Agency;and
WHEREAS,in order to evidence its obligations under the Loan
Agreement,the Governmental Agency is required to issue the Bond
in the form attached to the Loan Agreement;and
WHEREAS,there is hereby submitted to this meeting a form of
the Loan Agreement and the Governmental Agency Bond.
NOW,THEREFORE,BE IT ORDAINED BY THE BOARD OF TRUSTEES OF
THE TOWN OF ESTES PARK,COLORADO:
1.The form of the Loan Agreement in the form submitted to
this meeting and the Governmental Agency Bond in the form
attached thereto is hereby approved in all respects,and the
Mayor and Town Clerk are hereby authorized and directed to
execute and deliver for and on behalf and in the name of the
Governmental Agency,the Loan Agreement and the Governmental
Agency Bond with such changes and revisions as said Mayor and
Town Clerk shall deem advisable,said execution and delivery to
be conclusive evidence of such approval.
2.The Mayor and Town Clerk are,and each of them herebyis,authorized to execute such documents,and to do such other
acts and things,as may be necessary or advisable in connection
with the execution and delivery of the Loan Agreement and the
Governmental Agency Bond.
3.The adoption of this Ordinance is hereby declared an
emergency in order to immediately authorize the execution of the
above referenced documents in order to close the transaction set
forth in said documents on or before July 30,1991;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.
C C,
PASSED AND ADOPTED BY THE BOARD OF TRUEES OF THE TOWN OF
ESTES PARK,COLORADO,THIS 3,cd DAY OF }sc4c’,1991.9/f
TOWN OF ESTE PARK,COLORADO
By:_____
Mayor
ATTEST:
Town Clerk
I hereby certify that the above Ordinance was introduced ,apd read
at a meeting of the Board of Trustees on the03A.Cday of S,&ty.
1991,and published in a newspaper of geeral circ4aioxVinUthe
Town of Estes Park,Colorado,on thec,76—day of
________
1991.
Town Clerk
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