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• • c <br /> TOWN OF MONUMENT <br /> TOWN OF MONUMENT WATER ENTERPRISE <br /> ORDINANCE NO. / 6 -2001 <br /> AN ORDINANCE AUTHORIZING THE EXECUTION AND <br /> DELIVERY OF A LOAN CONTRACT BETWEEN THE STATE OF COLORADO <br /> FOR THE USE AND BENEFIT OF THE DEPARTMENT OF NATURAL <br /> RESOURCES, COLORADO WATER CONSERVATION BOARD, AND THE TOWN <br /> OF MONUMENT, COLORADO, AND THE TOWN OF MONUMENT, COLORADO, <br /> WATER ENTERPRISE SETTING FORTH THE TERMS AND PROVISIONS OF A <br /> LOAN IN THE PRINCIPAL AMOUNT OF $2,081,000 <br /> WHEREAS, The Monument Board of Trustees previously determined that the <br /> Town's water activity is an"enterprise" of the Town within the meaning of Article X, <br /> Section 20 of the Colorado Constitution; and <br /> WHEREAS, the Town of Monument has authorized the Enterprise to have and <br /> exercise the powers of an Enterprise including issuance of revenue bonds in the manner <br /> in which Town revenue bonds may be issued without voter approval in advance, <br /> revenues of the Enterprise to the payment of such reve tAionds acid to <br /> pledge any rP P Y � AY <br /> such revenue bonds therefrom, to enter into contracts relating to the svatir_systemAtthe <br /> Town in the manner in which Town contracts may be entered and to bind the Town to <br /> perform any obligation relating to the water system of the Tdwijt Ateruiplc,- <br /> fiscal year direct or indirect debt or other obligation whatever without 444#e <br /> cash reserves pledged irrevocably and held for payments in all future years,t'o sue!and'be= =` <br /> sued in its own name and to exercise any legal authority of the Town relating to water <br /> facilities and services; and <br /> WHEREAS, the Colorado State Engineer's office has ordered major repairs to be <br /> made to the Monument Dam; and <br /> WHEREAS, The Town of Monument Board of Trustees desires to make such <br /> repairs; and <br /> WHEREAS, The Monument Water Enterprise concurs in the desire to make such <br /> repairs; and <br /> WHEREAS, the Town of Monument and El Paso County are cooperating in the <br /> financing of such repairs; and <br /> WHEREAS, The Town of Monument does not have sufficient funds currently <br /> available to makes such repairs without borrowing such funds; and <br /> Appendix 3 to Loan Contract C150062 <br />