|
RESOLUTION NO.2017-06-01
<br /> RESOLUTION OF THE;BOXELDER BASIN REGIONAL STORMWATER
<br /> AUTHORITY CONCERNING AUTHORIZING AMENDMENTS TO THREE
<br /> EXISTING LOANS FROM THE COLORADO WATER CONSERVATION BOARD
<br /> FOR THE PURPOSE OF FINANCING,IN PART: (I)THE LARIMER AND WELD
<br /> CANAL CROSSING PROJECT, (II)THE EAST SIDE DETENTION FACILITY
<br /> PROJECT,AND(111)THE COUNTY ROAD 52 IMPROVEMENTS PROJECT;
<br /> AUTHORIZING THE EXECUTION OF AMENDMENTS TO THE EXISTING
<br /> PROMISSORY NOTES EVIDENCING SUCH LOANS AND AMENDMENTS TO THE
<br /> EXISTING SECURITY AGREEMENTS RELATING THERETO.
<br /> WHEREAS, the Boxelder Basin Regional Stormwater Authority (the "Authority") is a
<br /> drainage authority established in accordance with Section 29-1-204.2, Colorado Revised
<br /> Statutes, as amended ("C.R.S."), and pursuant to an Intergovernmental Agreement for
<br /> Stormwater Cooperation and Management dated August 20, 2008 (the "Original Authority
<br /> IGA"), as amended by a First Amendment to Intergovernmental Agreement for Stormwater
<br /> Cooperation and Management dated June 16, 2014 (the "First Amendment to Authority IGA"
<br /> and, together with the Original Authority IGA, the "Authority IGA"), among the Board of
<br /> Commissioners of Larimer County (the "County"), the City of Fort Collins, Colorado (the
<br /> "City"), and the Town of Wellington (the "Town") (each of the County, the City and the Town
<br /> constituting a"Member");and
<br /> WHEREAS, the City, the County and the Town have adopted a basin master plan titled
<br /> "Boxelder Creek Regional Stormwater Master Plan" dated October 2006, prepared by PBS&J
<br /> Consulting Engineers (the "Plan") pertaining to stormwater facilities serving properties in the
<br /> Boxelder Creek Basin, located in the County, and a portion of which are located in the City or
<br /> the Town; and
<br /> WHEREAS,pursuant to the Authority IGA,the Authority has constructed,and intends to
<br /> construct and otherwise provide, operate and maintain, stormwater facilities contemplated by the
<br /> Plan(as more particularly defined in the Authority IGA,the"Project Improvements");and
<br /> WHEREAS, pursuant to the Authority IGA, the Authority is authorized to collect, and
<br /> presently collects, a "Stormwater Service Fee" and a "System Development Fee" both as more
<br /> particularly defined and described in the Authority IGA;and
<br /> WHEREAS,the Authority has no taxing power;and
<br /> WHEREAS, as provided in the Authority IGA, the sole function of the Authority is to
<br /> plan for, finance,construct,acquire, own, operate and maintain the Project Improvements,which
<br /> the Authority undertakes to do on a self-supporting basis (excluding the use of moneys not
<br /> constituting local government grants under TABOR) and, as such, and as contemplated by the
<br /> Authority IGA and further confirmed herein,the Authority constitutes an "enterprise"within the
<br /> meaning of Article X, Section 20 of the Constitution of the State of Colorado ("TABOR") and
<br /> the Water Activity Enterprise Law,Part 1 of Article 45.1,Title 37,C.R.S.;and
<br /> 4812-2618-5034.1
<br /> APPENIX C
<br />
|