Laserfiche WebLink
<br />,:~ <br /> <br />..., \ <br /> <br />ORDINANCE NO. 827 <br />SERIES 1999 <br /> <br />AN ORDINANCE APPROVING A LOAN FROM THE <br />COLORADO WATER CONSERVATION BOARD IN THE <br />PRINCIPAL AMOUNT OF NOT TO EXCEED $922,000; <br />AUTHORIZING THE FORM AND EXECUTION OF THE LOAN <br />CONTRACT, A PROMISSORY NOTE TO EVIDENCE SUCH <br />LOAN, AND A SECURITY AGREEMENT IN CONNECTION <br />THEREWITH; AUTHORIZING THE CONSTRUCTION OF A <br />PROJECT; PRESCRIBING OTHER DETAILS IN CONNECTION <br />THEREWITH; AND DECLARING AN EMERGENCY. <br /> <br />WHEREAS, the Town of Palisade, in the County of Mesa and State of Colorado (the <br />"Town"), is a statutory Town duly existing under the Constitution and laws of the State of Colorado, <br />more particularly Title 31, Colorado Revised Statutes ("C.R.S. "); and <br />WHEREAS, the members of the Board of Trustees of the Town (the "Board") have <br />been duly elected and qualified; and <br />WHEREAS, at an election held in the Town on November 2, 1999 (the "Election"), <br />the Board was authorized to contract indebtedness in an aggregate amount not exceeding $922,000 <br />pursuant to the following ballot question: <br /> <br />SHALL THE TOWN OF PALISADE DEBT BE INCREASED <br />$922,000 WITH A REPAYMENT COST OF $1,599,581 FOR THE <br />PURPOSE OF CONSTRUCTING, INSTALLING AND <br />REPLACING A WATER LINE TO THE COITONWOOD CREEK <br />AREA; SUCH DEBT BEING REPAID BY WATER USE FEES <br />AND OTHER AVAILABLE FUNDS OVER A PERIOD OF 30 <br />YEARS; SUCH DEBT TO BE EVIDENCED BY A LOAN FROM <br />THE COLORADO WATER CONSERV ATIONBOARD WITH AN <br />INTEREST RATE NOT TO EXCEED 4%; AND SHALL THE <br />PROCEEDS OF SUCH DEBT AND THE INVESTMENT INCOME <br />THEREON CONSTITUTE A VOTER APPROVED REVENUE <br />CHANGE UNDER ARTICLE X, SECTION 20 OF THE <br />COLORADO CONSTITUTION? <br /> <br />Appendix A to Loan Contract C150006 <br />