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WHEREAS,pursuant to Section 31-16-105, C.R.S.,because of the urgent need for <br /> the financing of the Project and the limited availability of low interest loans, the Board has <br /> determined that an emergency exists and that the adoption of this Ordinance as an emergency <br /> measure on first and final reading is necessary for the immediate preservation of the public peace, <br /> health, safety, and welfare. <br /> BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF <br /> WIGGINS, COLORADO: <br /> Section 1. Approvals, Authorizations, and Amendments. The forms of the <br /> Financing Documents presented at this meeting are incorporated herein by reference and are hereby <br /> approved. The Town shall enter into and perform its obligations under the Financing Documents in <br /> the forms of such documents,with such changes as are not inconsistent herewith and as are hereafter <br /> approved by the Mayor of the Town(the"Mayor"). The Mayor and Town Clerk of the Town(the <br /> "Clerk")are hereby authorized and directed to execute the Financing Documents and to affix the seal <br /> of the Town thereto,and further to execute and authenticate such other documents or certificates as <br /> are deemed necessary or desirable in connection therewith. The Financing Documents shall be <br /> executed in substantially the forms approved at this meeting. <br /> The execution of any instrument or certificate or other document in connection with <br /> the matters referred to herein by the Mayor and Clerk or by other appropriate officers of the Town, <br /> shall be conclusive evidence of the approval by the Town of such instrument. <br /> Section 2. Election to Apply Supplemental Act. Section 11-57-204 of the <br /> Supplemental Public Securities Act, constituting Title 11, Article 57, Part 2, C.R.S. (the <br /> "Supplemental Act") provides that a public entity, including the Town, may elect in an act of <br /> issuance to apply all or any of the provisions of the Supplemental Act. The Board hereby elects to <br /> apply all of the Supplemental Act to the Financing Documents. <br /> Section 3. Delegation. <br /> (a) Pursuant to Section 11-57-205 of the Supplemental Act, the Board hereby <br /> delegates to the Mayor or Mayor Pro Tem the authority to make the following determinations <br /> relating to and contained in the Financing Documents, subject to the restrictions contained in <br /> paragraph(b) of this Section 3: <br /> (i) The interest rate on the Loan; <br /> (ii) The principal amount of the Loan; <br /> 3 <br />