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ORDINANCE 09-92
C,0ORDINANCENO.9-92ANORDINANCEAUTHORIZINGTHEAPPROVALOFTHEFIRSTAMENDMENTTOTHETOWNOFESTESPARELOANAGREEMENTSMALLWATERRESOURCESPROJECTWHEREAS,TheColoradoWaterResourcesandPowerAuthority,(the“Authority”)andtheTownofEstesPark,(the“GovernmentalAgency”)enteredintoaLoanAgreementdatedasofJuly15,1991forthefinancingofaportionofthecostofasmallwaterresourcesproject(the“Project”)andtheGovernmentalAgencyhasexecuteditsGovernmentalAgencyBondtoevidencesaidloanfromtheAuthority;andWHEREAS,theAuthorityhasissueditsAuthorityBondstofinancetheProjectAccountfromwhichtheamountsloanedtotheGovernmentalAgencyhavebeentaken;andWHEREAS,theGovernmentalAgencyhasinformedtheAuthoritythattheprojectwillbecompletedwithoutexpendingallofthebudgetedcontingencyfunds;andWHEREAS,TheGovernmentalAgencyhasnotifiedtheAuthorityofanotherprojectthatwouldmeettherequirementsoftheloanagreementandthebondresolutionfortheutilizationofaportionoftheremainingloanproceedsinthetineallowed;andWHEREAS,theGovernmentalAgencyhasrequestedthatExhibitA(1)DescriptionofProjectintheLoanAgreementbeamendedtoinclude“Watermaintransmissionconstruction,pressurereducingstationsandothercapitalprojectsassociatedwiththeTown’sdistributionandwatersupplysystem”.NOW,THEREFORE,BEITORDAINEDBYTHEBOARDOFTRUSTEESOFTHETOWNOFESTESPARK,COLORADO:1.TheGovernmentalAgencyherebyauthorizestheamendmenttoExhibitA(1)oftheLoanAgreementbetweentheGovernmentalAgencyandtheAuthoritydatedasofJuly15,1991asfollows:ExhibitA(1)DescriptionofProjectisamendedtoreadasfollows:AnewMGDwatertreatmentfacilityatMary’sLaketobesitedonUnitedStatespropertyabovetheNary’sLakepowerplantwhichwillreplacethedeterioratingBigThompsonwatertreatmentplantandsmallCrystaltreatmentplant,therebyimprovingSystemreliabilityandefficiency;watermaintransmissionconstruction,pressurereducingstationsandothercapitalprojectsassociatedwiththeTown’sdistributionsystemandwatersupplysystem.A1MGstoragereservoirisproposedadjacenttosaidplant.Theplantwillbeconnectedtotheexistingsystemvia12”waterlinesandpumpstations. C)1.)..ICDr!---‘-AU——---I.-—.:--fit!-•......3.:.--.-.I......:........)j 002.TheadoptionofthisOrdinanceisherebydeclaredanemergencyinordertoimmediatelyauthorizetheamendmentoftheLoanAgreementtoallowfortheimmediateconstructionofwatermaintransmissionsystems;andWHEREAS,itistheopinionoftheBoardofTrusteesthatanemergencyexistsandthisOrdinanceshalltakeeffectandbeenforcedimmediatelyafteritspassage,adoptionandsignatureoftheMayor.PASSEDANDADOPTEDBYTHETRUSTEESOFTHETOWNOFESTESPARK,COLORADOTHIS/j_&DAYOF___________,1992.TOWNOFESTESPAREBy:_______MyorATTEST:TownClerkIherebycertifythattheaboveOrdinancewasintroducedandreadat.ameetingoftheBoardofTrusteesonthe/3gdayof____________1992,andpublishedinanewspaperofgeneralcirci%ationintheTownofEstesPark,Coloradoonthe/dayof{VtJjAj,1992.C______ZC)cI ()C—II—.