PROJC02294 ‎(2)‎

• Contract/PO #: C153396
• Contractor Name: Fruita, City of
• Contract Type: Loan
• Water District: 72
• County: Mesa
• Bill Number: SB 81-439
• Loan Projects - Doc Type: Contract Documents

Ordinance 1990-3
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ORI] I NANCE 1990-3
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AN ORDINANCE OF THE CITY OF FRUITA, COLORAL,O, PROVIDING FOR
SALES TAX REVENUES TU 8E USEC AS SECURITY TO PAY
OBL I GA?IONS OF THE CITY I N FAU7]R OF T}{E COLORALO 1~lATER
CONSERVATION E3OARD FOR THE PURPOSE OF
PROV?DING CAPITAL InPROVEMENTS
WHEREAS, pursuant to chapter 3.1z of the Fruita funicipal Code of
the City of Fruita, Colorado, the City of Fruita, C"the City"),
presently imposes a Z': sales tax on t}~e sale or purchase of
tangible personal F~roperty sold at retail or the furnishing of
~.:,ervices w~.t)rln the City; anci
~-~
"~S, the City receives a ~c~`,s~,~g a~~,yE~ portion oE' flesa County
_.. ta.: collections; and ~~y~' ~~~~~}--~
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.,`." fi'
WHEF~AS, on the 1st day of flay, f~ ~'Y tea!ity entered into a
contract C "Contract #C 15 ~~~')~~! t E: Cry~,artmc~nt r~C -datural
f2esources, Colorad^ Waiter ~~ n` r~~ition kioarct, E~or the purp^se aF
borrowing Funds to constru "`- improvements on the City municipal
water system, C"system"~; and
WHEREAS, on the 1st day of= December, 1982, the City entered into
a contract ~"Contract k~C15~i3yh"~ with the Department of Natural
Resources, Col^rado Water Conservation E3oarc!, Ear the purpos© of
borrowing Funds to canstruct improve=rmPnts on the Ci*_y munic~.pal
water system, ~"system"1; and
WHEREAS, the Colorado Water Conservation Board advanced all funds
pursuant to Contract C1533C2 and Contract C15~396 to the City;
anti
WHEREAS, the City is currently making its payment obligations
pursuant to Contract C1S33E3c and Contract C15~1?96 by applying
payments made to the Cite Frorn UtEj Water C^nservancy~ District
(. 'Ute:' ? tow~~rd Bald ot~1>rUat:ions.
WHEREAS, to secure repayment oP the Funds advanced to the City by
Colorado Water Conservation Board, the C~.ty pr^mised to convey
title to portions oC~ its 5y~stem to the L'olocado Water
ConSr,rvation Board; and
WHEREAS, on the 27Yh day of December, 29Ei:~, the City entered into
an rjQrf~rm~:nt to mt:~rge i r.s ~;r~ ,t-.am wt r.h rh;tt-, or' ! ~?:n • ~,n~i
WHEREAS, Utr~ r~rishPS to have the C.i.tr~'s sr;s*.f~m transFerrRd to Ute
Free ~rnd clear nP anr~ cl~iim to ~.amP trite tht~ ~rrlnrado Water