Loading...
HomeMy WebLinkAboutEPURA RESOLUTION 750 0 RESOLUTION NO.75 (Series 1987) A RESOLUTION OF THE ESTES PARK URBAN RENEWAL AUTHORITY AUTHORIZING THE AUTHORITY TO BORROW UP TO $50,000.00 FROM ESTES PARK FINANCIAL INSTITUTIONS UNTIL SEPTEMBER 1,1989 WHEREAS,the Estes Park Urban Renewal Authority has determined it beneficial to the community to commission a sculpture for the East Entry of the Town of Estes Park,Colorado;and WHEREAS,such activity is in accordance with the Urban Renewal Plan and downtown beautification;and WHEREAS,the Estes Park Urban Renewal Authority has the right to borrow money from any legal source (Section 3l—25—105(l)(g), C.R.S.);and WHEREAS,repayment of all or part of this loan may be accomplished through the sale of collectible bronze miniatures in accordance with accepted practice. WHEREAS,all Estes Park financial institutions desire to be involved in this project,the money will be supplied by First National Bank,Home Federal Savings &Loan,Park National Bank and The Estes Park Bank.The Estes Park Bank will act as the agent;and WHEREAS,the Estes Park financial institutions have offered to loan the Authority this money at an interest rate based on 80%of First Interstate Bank of Denver’s National Prime Interest Rate. NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE ESTES PARK URBAN RENEWAL AUTHORITY THAT: 1.The Chairman,Vice—Chairman and Treasurer,in conjunction with the Secretary/Executive Director,be authorized to borrow the money necessary to commission this sculpture. 2.The Chairman,Vice—Chairman,Treasurer and Secretary/Executive Director be authorized to enter into an agreement with The Estes Park Bank,using the attached Corporate Resolution. 3.Any two of the above named officers be authorized to sign for the Authority. ADOPTED this 16th day of April 1987. a es H.Phares,Chairman 1I 7,Actual SiqnatIreicI-4 /‘‘tL / -k t l ,.Accountl Lo;Date Due Principal i Number Num.of Note Date Amount References above to a particular loan do not limit the appncability of this Resolution COR1 ..RATE RESOLUTION TO BORROW OR GUARANTEE Lender:The Estes Park Bank Corporation:Estes Park Urban _______________________________ Renewal Authority I,the undersigned Secretary of the Corporation named above,hereby certify as follows:The Corporation is organized and existing under and by virtue of the laws of the State of:Co 10 r ado The Corporation has its principal office at: ______ 170 Mac Greg or Ave •,Es t e s Park,CO 80517 .The officers of the Corporation are as follows: Name Position Charles H.Phares Chairman J.Donald Paulev Vice—Cha±rman Tre surerEdwardB.Pohi Axihur L.Anderson q ,.a fr r r si I further certify that at a meeting of the Directors of the Corporation,duly and regularly called and held on the 1 6th day April ,19 87 ,at which a quorum was present and voting,the following resolutions wereunanimouslyadopted:Resolution No.75 attached BE T RESOLVED,that any 2 of the following named officers or employees of this Corporation,whose actual signatures are shown below: Name (please type)Position Charles H.Phares Chairman _______________________ _EarPoh1 Treasurer _______ - Arthur L.Anern_Secretary acting for and on behalf of this Corporation and as its act and deed,be and they are hereby authorized and empowered: (a)To borrow from Lender,on such terms as may be agreed upon between the officers or employees and Lender,such sum or sums of money as in their judgment should be borrowed,not exceeding,however,at any one time the aggregate amount of LI Unlimited LI ___________________________________________ ($50 000 .00 ). (b)To guarantee or act as surety for loan(s)to ______________________________________ ,from Lender on such terms as may be agreed upon between the officers or employees and Lender,such sum or sums of money as in their judgment should be guaranteed or assured,not exceeding,however,at any one time the aggregate amount of LI Unlimited LI - _________). (c)To execute and deliver to Lender the promissory note or notes of the Corporation,on Lender’s forms,at such rates of interest and on such terms as may be agreed upon,evidencing the sums of money so borrowed or any indebtedness of the Corporation to Lender,and also to execute and deliver to Lender any renewal or renewals of the notes,or any of them,or of any part thereof. (d)To mortgage,pledge,hypothecate,or otherwise encumber and deliver to Lender,as security for the payment of any loans so obtained,any promissory notes so executed,or any other or further indebtedness of the Corporation to Lender at any time owing,however the same may be evidenced,any property belonging to the Corporation or in which the Cor poration may have an interest,real,personal or mixed.Such property may be encumbered,hypothecated,or pledged at the time such loans are obtained or such indebtedness is incurred,or at any other time or times,and may be either in addition to or in lieu of any property theretofore mortgaged,hypothecated,encumbered,or pledged.The provisions of these Resolutions authorizing or relating to the pledge,hypothecation,granting of a security interest in,or otherwise in any way encumbrancing the assets of the Corporation shall include,without limitation,doing so in order to lend collaLeral support to indebtedness,now existing or later arising and of any nature whatsoever,of________________________________ __________________________________________ - _____to Lender.The Corporation has considered the value to itself of lending collateral in support of such indebtedness,and the Corporation represents to Lender that the Corporation is benefited by doing so. (e)To execute and deliver to Lender the form of pledge agreement,security agreement,and financing statement which may be submitted by Lender,and which shall evidence the terms and conditions under and pursuant to which such pledges, or any of them,are made;and also to execute and deliver to Lender any mortgages,deeds,trust indentures,or other instruments in writing,of any kind or nature,which may be necessary or proper in connection therewith or pertaining thereto. (f)To draw,endorse,and discount with Lender drafts,trade acceptances,promissory notes,or other evidences of indebt edness payable or belonging to the Corporation or in which the Corporation may have an interest,and either to receive cash for the same or to cause such proceeds to be credited to the account of the Corporation with Lender,or to cause such other disposition of the proceeds derived therefrom as they may deem advisable. (g)To do and perform such other acts and things and to execute and deliver such other documents as may in their discretion be deemed reasonably necessary or proper in order to carry into effect any of the provisions of these Resolutions. BE IT FURTHER RESOLVED,that these Resolutions shall remain in full force and effect until written notice of the revocation thereof shall have been delivered to and received by Lender.Any such notice shall not affect any agreements in effect or com mitted at the time notice is given. I further certify that the persons hereinabove named occupy the positions set opposite their respective names;that the foregoing Rsolutions now stand of record on the books of the Corporation:that they are in full force and effect and have not been modified or revoked in any manner whatsoever. IN TESTIMONY WHEREOF,I have hereunto set my hand and affixed the of April ____ ,19 87. CORPORATE SEAL Secretary 16th TreasurerTitle (Se,.ft ‘tC)ts’l •NOTI In case the Screutiv ot other certifying offtcer is Uestnated by the forcjony tesolutictns ii one of the signtng officers.titis certthcatc must ako he s jned a ond OfflLei •t D,r n of ttic Corporation.