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<br />Jan-OB-99 11:S0A First National Bank Ouray 1 970 325 4300 - <br /> <br />P.02 <br /> <br />,. <br /> <br />CITY OF OURAY <br />REVENUE ANTICIPATION WARRANT <br /> <br />Dated: January 8, 1995 <br /> <br />$150,000 <br /> <br />The City of Ouray, Colorado, ior value receiveD, hereby promises to Pay to <br />First National Bank, Ouray, out of the Special Sinking Fund hereinafter designated. <br />lhe princ1palsum of $150,000 with interest on the unpaid principal at the rate of <br />5.125% per annuml pa,!~bll;J as follows: <br /> <br />1. Equal annual installments of Dr:nc!p~! an!! interest, amortized over <br />fifteen i l6j years, due beginning September 30, 1999,.in the amount of <br />$14,400.23 or as mutually adjusted. with such Anticipation WtmCint tD ba <br />paid on or before September 30, 2013. See the Amortization Scheduie <br />attached hereto aod incorporated herein by this reference. <br /> <br />The installments shall be payable a'! first "'~tional Bank. <br /> <br />This Anticipation Warrant is issued by the Clty of Ouray. Coloradc for the <br />purpose of financing the construction of a new visitor' S cent~r iocated at the Ouray <br />Hot Springs Pool Park (tne "Project"), under tl1e authority of and in fuii conformity <br />with the Constitution and Laws of the State of Colorado, including Part 3 of ArtiCle <br />20 of "Title 3D, C.R.S.. and pursuant to OrdInance No. 15,1998 of the City duly <br />pass~ end adopted prior to the issuance of 1;his Anticipation Warrant. <br /> <br />This Anticipation Wafiiii"it does not constitute an ;ndabteo"css of the City <br />within the meaning of any appiicable constitutional or statutCiiy. provision of <br />limitation, shalf not be considered or held to be a general obligation of the City. and <br />is payable sOlely. from the net revenues from the operation of the Municipal Hot <br />Springs Pool and rentals received from tenants of the visitor's center. (after <br />payment of costs of oper~!ior!; mElintenan~, administration and repairs) (the <br />.P:~ed Ravam.:es"). The Pledged Reve~:.:es shaH he placed into a Spec;i~1 Sinking <br />Fund for that purpose. The holder may not look tv ar:y general or other fund for <br />payment OT the installments due on this obligation except the speclal1uoos pledged <br />thereafter. Bonds or obligations in addjtion to this Anticipation Warrant, subject to <br />expressed conditions, may be issued and made payable from said Piedgea <br />Revenues. <br /> <br />sooli! <br /> <br />VJ.13G ~o XJ.I::l <br /> <br />9LL8 tL8 OL6 XV~ OZ:Sl 66/LO/Zl <br />