Laserfiche WebLink
<br />,"~-22-1998 2,20PM <br /> <br />FROM TOWN OF LYONS 303 443 0084 <br /> <br />, <br /> <br />P,2 <br /> <br />. <br /> <br />(' <br /> <br />TOWN OF LYONS, COLORADO <br />ORDINANCE NO. 652 <br /> <br />AN ORDINANCE APPROVING AN AMENDMENT TO THE LOAN AGREEMENT <br />PREVIOUSLY APPROVED BY ORDINANCE NO, 613 BETWEEN THE TOWN OF <br />LYONS, COLORADO, AND THE COLORADO WATER CONSERVATION BOARD <br />FOR THE PURPOSE OF FINANCING IMPROVEMENTS TO THE TOWN'S WATER <br />SYSTEM <br /> <br />WHEREAS, the State of Colorado by the Colorado Water Conservation Board <br />("CWCB") and the Town of Lyons entered into a contract dated October 4, 1996, Contract <br />Encumbrance Number C153721 ("Original Contract"), wherein the CWCB agreed to loan <br />money in the total amount of $280,500 to partially finance the rehabilitation of the Town's raw <br />water intake strUcture and the Town agreed to repay the loan in accordance with the terms of <br />the Original Contract. The Original Contract was approved by Ordinance No. 613; and <br /> <br />WHEREAS. the project was substantially completed as of September 9, 1997. The <br />Town borrowed a total of $226,979.86 of the authorized loan amount of $280,500. The <br />Town's annual loan payments will be $18,213.45, with the first payment due on September 9, <br />1998; and <br /> <br />r <br /> <br />'WHEREAS. the parties agree to amend the conttact to reflect the actual loan amount, <br />the annual payment, and the payment due date; and <br /> <br />WHEREAS, none of the members of the Board of Trustees have any financial interest <br />or other potential conflicting interests in connection with the authorization, execution, or <br />amendment of the Original Contract or of the proceeds thereof. . <br /> <br />NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF <br />THE TOWN OF LYONS, BOULDER COUNTY, COLORADO, THAT: <br /> <br />Section 1. The Board of Trustees hereby approves Amendment No. 1 To Loan <br />Contract and Promissory Note ("Amendment No.' 1") between the Colorado Water <br />Conservation Board for the State of Colorado and the Town of Lyons which is attached to this <br />Ordinance. <br /> <br />Section 2. The Mayor,. or in the Mayor's absence the Mayor Pro Tem, is authorillld <br />to execute Amendment No. 1 and the Town Clerk is authorized to attest such execution. <br /> <br />r <br /> <br />Section 3. Nothing in this Ordinance is intended to alter, amend, or modify any <br />provision of Ordinance No. 613 and the approval of the Original Contract evidenced in <br />Ordinance No. 613 remains valid and. effective. The intent of this Ordinance is to only amend <br />the Original Contract to the extent provided by the attached Amendment No. I. <br />