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<br />TOWN OF LYONS, COLORADO <br />ORDINANCE NO. 613 <br /> <br />AN ORDINANCE APPROVING A LOAN AGREEMENT BETWEEN THE TOWN OF <br />LYONS, COLORADO, AND THE COLORADO WATER CONSERVATION BOARD <br />IN THE AGGREGATE PRINCIPAL AMOUNT OF $280,500.00 FOR THE PURPOSE <br />OF FINANCING IMPROVEMENTS TO THE TOWN'S WATER SYSTEM, <br />AUTHORIZING THE FORM AND EXECUTION OF THE LOAN AGREEMENT AND <br />RELATED LOAN DOCUMENTS, PRESCRIBING OTHER DETAILS AND <br />AUTHORITY IN CONNECTION THEREWITH, AND DECLARING AN <br />EMERGENCY <br /> <br />WHEREAS, the Town of Lyons (the "Town"), located w' in the ~~ulder, <br />Colorado, is a statutory town and municipal corporation duly org n~.iStl~der the <br />laws of the State of Colorado; and , ,/j ~ <br /> <br />WHEREAS, the Town has the authority to contract indebtedness on behaIf'-4wn <br />by borrowing money for the public purpose of supplying water, and constructing and improving <br />public facilities and equipment, pursuant to Title 31, Article 15, Section 302 of the Colorado <br />Revised Statutes; and <br /> <br />WHEREAS, on November 7, 1995, a majority of the registered electors of the Town <br />approved an increase of up to $2,000,000 in the Town's indebtedness with a repayment amount <br />of $4,000,000 for the purpose of constructing, improving, and equipping the Town's water and <br />wastewater system and facilities; and <br /> <br />WHEREAS, pursuant to C.R.S. ~~ 37-60-119 and 37-60-120, the Colorado Water <br />Conservation Board ("CWCB") is authorized to loan money for the construction of water <br />projects for the benefit of the people of the State of Colorado provided that the borrower assures <br />repayment of the loan; and <br /> <br />WHEREAS, the Town has made application to the CWCB for a $280,500.00 loan to <br />finance the construction, improvement, reconstruction, and rehabilitation of the Town's raw <br />water intake structure; and <br /> <br />WHEREAS, the CWCB has accepted such application and has approved the making of <br />such a loan subject to certain conditions; and <br /> <br />WHEREAS, there has been presented to the Board of Trustees of the Town of Lyons <br />(the "Board"), at this regular meeting of the Board a form of "Loan Contract and Promissory <br />Note" in the amount of $280,500.00 (the "Loan Agreement "), and a " Uniform Commercial Code <br />Security Agreement and Financing Statement," (which together with the Loan Agreement are <br />collectively referred to herein as the "Loan Documents"), between the CWCB and the Town; <br />and <br /> <br />RCW\S3976\163338.1 <br /> <br />APPENDIX 1 <br />