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<br />" <br /> <br />~ <br /> <br />- <br /> <br />" <br /> <br />RESOLUTION NO. 1~111~- <br /> <br />AMENDING RES01UTION NO. 51-88 <br />AUTHORIZING THE CITY MANAGER TO APPLY FOR A LOAN <br />FROM THE COLORADO WAtER CONSERVATION BOARD, <br />THE PROCEEDS OF WHICH LOAN TO BE USED TO MAKE <br />IMPROVEMENTS TO THE CITY'S WATER SUPPLY SYSTEM, <br />BY CHANGING THE LOAN TER~ FROM 40 YEARS TO 25 YEARS <br /> <br />WHEREAS, on December 21, 1988, the Council adopted <br />Resolution No. 51-88, which resolution authorized the City <br />Manager to apply for a loan from the Colorado Water Conserva- <br />tion Board; and <br /> <br />WHEREAS, said Resolution authorized a loan term not to <br />exceed forty (40) years; and <br /> <br />.' <br /> <br />WHEREAS, the Colorado Water Conservation Board has indi- <br />cated that it would prefer to see a loan term of not more <br />than 25 years and the City Utilities Director indicates a 25 <br />years term is appropriate. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND <br />JUNCTION: <br /> <br />Resolution No. 51-88 is amended to change the authorized <br />loan term from a maximum of forty (40) years to a maximum of <br />twenty-five (25) years. <br /> <br />PASSED and ADOPTED this <br /> <br />/1 <br />-~------- <br /> <br />day of ~, 1989. <br /> <br />Attest: <br /> <br />P~~~u~~il----------- <br /> <br />~~~_~~f~, ______ <br />City Clerk ~., <br />