C153837 contract docs - Laserfiche WebLink

Home Browse Search

� � "SHALL CHATFIELD SOUTH Wt�,TER DISTRICT DEBT BE INCREASED $1,995,000, WITH A'REPAYMENT COST OF NOT MORE THAN $4,705,117; AND SHALL CHATFIELD SOUTH WATER DISTRICT TAXES BE INCREASED $240,299 ANNUALLY, OR BY SUCH LESSER ANNUAL AMOUNT AS MAY BE NECESSARY TO PAY THE DISTRICT'S DEBT; SUCH DEBT TO CONSIST OF GENERAL OBLIGATION BONDS OR OTHER OBLIGATIONS, ISSUED FOR THE PURPOSE OF ACQUIRING WATER RIGHTS AND ACQUIRING, CONSTRUCTING, AND INSTALLING A WATER SUPPLY, TR.ANSMISSION, AND DISTRIBUTION SYSTEM, FOR THE DISTRICT AND ALL NECESSARY APPURTENANCES THERETO, SUCH DEBT TO BEAR INTEREST AT A MAXIMUM NET' EFFECTIVE INTEREST RATE OF 9.5% PER ANNUM, AND TO MATURE OR BE PAYABLE IN NOT MORE THAN 2 ARS AFTER ISSUANCE; SUCH TAXE Q S OF AD VALOREM TAXES LEVIED WITHOU N OF RATE AND IN AMOUNTS SUFFICIENT TO P ANNUAL TAX 1NCREASE SET FOR O L� SER AMOUNT AS MAY B��E R; AND SHALL THE PROCEEDS OF ANY SUCH DEBT AND TAXES, ANY OTHER MONEY USED TO PAY SUCH DEBT, AND INVESTMENT INCOME THEREON, CONSTITUTE VOTER-APPROVED REVENUE CHANGES AND BE COLLECTED AND SPENT BY THE DISTRICT WITHOUT REGARD TO ANY EXPENDITURE, REVENUE-RAISING, OR OTHER LIMITATION CONTAINED WITHIN ARTICLE X, SECTION 20 OF THE COLORADO CONSTIT'UTION, AND WITHOUT I,IMITING IN ANY YEAR THE AMOUNT OF OTHER REVENUES THAT MAY BE COLLECTED AND SPENT BY THE DISTRICT?" WHEREAS, the Board has been presented with the forms of the Loan Contract and Note, and other documents referenced therein (collectively, the "Financing Documents"), and WHEREAS, the Board desires to approve the forms of the Financing Documents and authorize the execution thereof; and WHEREAS, none of the members of the Board have any potential conflicting interests in connection with the execution of the Loan Contract or the issuance of the Note, or the use of the proceeds thereof; � �