PROJ00532

• Contract/PO #: C153588
• Contractor Name: Greeley, City of
• Contract Type: Loan
• Water District: 3
• County: Larimer
• Bill Number: SB 89-85
• Loan Projects - Doc Type: Contract Documents

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THE CITY OF GREELEY, COLORAuO

6RDINANCE NO.

85 ,1992

AN ORDINANCE AUTHOo IZ:::13 THE APPROVAL OF A CONTRACT AND ADDENDUM CONTRACT
BETWEEN THE COLORADO WATER CONSERVATION BOARD AND THE CITY OF GREELEY FOR THE
REHABILITATION OF BARNES MEADOW DAM AND RELATED WATER UTILITY IMPROVEMENTS AND
NECESSARY INCIDENTALS; PRESCRIBING THE FORM OF THE MORTGAGE SECURING SAID
OBLIGATION; PROVIDING FOR THE PAYMENT OF THE SAME AND THE INTEREST THEREON.

_ ,WHEREAS, for the purpose of rehabilitation of Barnes Meadow Dam, as well
a~ other water utility 'improvements and necessary incidentals (the Project),
the City of Greeley (the City) by proper action has considered a contract and
amendments thereto between itself and the Colorado Water Conservation Board;
and

WHEREAS, the City Council has received the funds to build and complete
the project and determined that the cost of such project shall benefit the
health, safety and welfare of the inhabitants of the City and shall not exceed
a cost of Three Hundred Thirteen Thousand Four Hundred Twentv-Four Dollars
($313.424) principal with interest to be paid at five percent (5%) over a term
of twenty i1Ql years in equal principal payments not including costs for
collection, administration and other incidentals; and

WHEREAS, by reason of the fact that the Colorado Water Conservation Board
requires that the City of Greeley pledge the full faith and credit of said
City to subject obligation; and

WHEREAS, by reason that it is necessary to obtain money to pay the costs
of the construction of the project, which costs have and will hereafter become
due and payable, this ordinance is hereby declared to become necessary to the
preservation of the public peace, health, and property and shall take effect
upon pUblication following passage pursuant to Article III, Section 3-17 of
the Greeley City Charter; and

WHEREAS, the requirements of Article XI, Section 3 of the Colorado
, Constitution ,are not applicable to this project and that the pledge of credit
by the City of Greeley applies only to the obligation of the City u..der ~~e
contract amendment and is not in aid of any other person or in payment of any
debt, contract, or liability of any other person; and

WHEREAS,Article 11, Section 1, and the Charter of the City of Greeley
provide that debts contracted by a home rule city for the purposes of
supplying water shall be excepted from the operation of Section 6 insofar as
no political subdivision of the State shall contract any general obligation
debt by loan in any form, whether individually or by contract, without an
election; and

WHEREAS, it is now necessary to provide for the approval of the payback
contract and this ordinance in this form, subject to the commensurate payment
schedule incorporated therein;

A-rJ; C. fO A"'-~p l

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