Laserfiche WebLink
and benefit of the Department of Natural Resources, Colorado Water Conservation Board and the <br />Town of Bennett, Colorado, acting by and through the Town of Bennett Water Activity Enterprise <br />("Enterprise"), in the amount up to $250,000 with interest at the rate of 3.5% per annum, is hereby <br />approved in essentially the same form as the copy of such Loan Contract accompanying this Ordinance. <br />Section 2. The Mayor Pro Tem and Town Clerk are hereby authorized to execute the Loan <br />Contract on behalf of the Enterprise, and all documents necessary to carry out the Loan Contract, <br />including but not limited to the Promissory Note, and Security Agreement. The Mayor, Town <br />Administrator and Town Staff are further authorized to do all things necessary on behalf of the <br />Enterprise to perform the obligations of the Enterprise under the Loan Contract and to execute and <br />deliver any and all documents necessary to effect the terms and conditions of such Loan Contract. <br />Section 3. If any section, paragraph, sentence, clause, or phrase of this ordinance is held <br />to be unconstitutional or invalid for any reason, such decision shall not affect the validity or <br />constitutionality ofthe remaining portions of this ordinance. The Board of Trustees hereby declares <br />that it would have passed this ordinance and each part or parts hereof irrespective of the fact that any <br />one part or parts be declared unconstitutional or invalid. <br />Section 4. All other ordinances or portions thereof inconsistent or conflicting with this <br />ordinance or any portion hereof are hereby repealed to the extent of such inconsistency or conflict. <br />Section 5. The Board of Trustees herewith finds, determines and declares that this <br />ordinance is necessary for the immediate preservation of the public health and safety in order to timely <br />effectuate the provisions hereof so as to timely implement necessary improvements to the waterworks <br />system of the Town, and this ordinance shall take effect upon adoption, provided the same has been <br />adopted and signed by the Mayor or Mayor Pro Tem and approved bythree-fourths of the entire Board <br />of Trustees. <br />INTRODUCED, READ, ADOPTED, APPROVED, AND ORDERED PUBLISHED BY <br />TITLE ONLY this 26th day of February, 2008. <br />TOWN OF BENNETT, COLORADO <br />ACTING BY AND THROUGH THE <br />TOWN OF BENNETT WATER ACTIVITY <br />ENTERPRISE <br />Sue F. Horn, <br />Mayor Pro Tem <br />~' C <br />Tam .Intermill <br />Town Clerk <br />2 <br />