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APPENDIX 5 <br /> ORDINANCE NO.1202 <br /> AN ORDINANCE OF THE CITY OF LAMAR,COLORADO ACTING BY AND THROUGH <br /> ITS WATER ACTIVITY ENTERPRISE,AUTHORIZING A LOAN FROM THE COLORADO <br /> WATER CONSERVATION BOARD FOR THE PURPOSE OF FINANCING A PORTION OF <br /> THE COSTS OF REPURPOSING TWO EXISTING WELLS;AUTHORIZING THE <br /> EXECUTION OF A PROMISSORY NOTE TO EVIDENCE THE LOAN AND PROVIDING <br /> FOR'1HE PAYMENT OF 1'HE NOTE FROM THE OPERATION OF THE WATER <br /> ACTIVITY ENTERPRISE;AND MAKING CERTAIN COVENANTS IN CONNECTION WITH <br /> THE LOAN AND PROVIDING DETAILS IN CONNECTION THEREWITH. <br /> WHEREAS,the City of Lamar,Colorado,is a municipal corporation duly organized and operating as a <br /> home rule City under Article XX of the Constitution of the State of Colorado and the Home Rule Charter of the <br /> City (unless otherwise indicated, capitalized terms used in this preamble shall have the meanings set forth in <br /> Section 1 of this Ordinance);and <br /> WHEREAS,the City is the owner and operator of a water and sewer utility(referred to in this preamble <br /> as the"System")and the City operates and maintains the System as a single public utility and income-producing <br /> project;and <br /> WHEREAS,pursuant to Ordinance No.992 of the City,the System has been established by the City as a <br /> "water activity enterprise"within the meaning of the Water Activity Law;and <br /> WHEREAS,the System has in recent years been operated on a self-supporting basis by the City with all <br /> revenues of the System accounted for in separate proprietary funds collectively referred to herein as the"Water <br /> Activity Enterprise Fund"and such system is considered to be a government-owned business and an"enterprise" <br /> of the City;and APPENDIX 5 <br />