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<br />. <br /> <br />. <br /> <br />/Dd. <br /> <br />""7 <br /> <br />. <br /> <br />needs of the Town require that provl.sl.on be made for constructing, improving emd <br />equipping facilities comprising the Town's water and wastewater system (the <br />. System. ), including all necessary and convenient costs related thereto (the <br />.Project.); and <br /> <br />WHEREAS, There are not sufficient funds on hand in the treasury of the TClwn <br />and the Board does not anticipate that existing sources of revenue will be <br />sufficient to generate the moneys necessary in order to finance the Project; C1nd <br /> <br />WHEREAS, The Board has determined that the Project will necessitate t.he <br />issuance of water and wastewater revenue bonds or other financial obligation of <br />the Town in an amount not to exceed $2,000,000 and the use of net revenues of t.he ~ V' <br />System and other legally available moneys of the Town to pay such revenue bOllds ~ <br />or other financial obligations, and that the issuance of such revenue bonds on <br />other financial obligation and use of the net revenues of the System and other <br />legally available moneys of the Town should be presented by the Board to t.he <br />eligible electors of the Town; and <br /> <br />WHEREAS, the Board has determined to set the ballot title and ballot <br />question for the question to be considered at the election called by this . <br />Resolution; <br /> <br />THEREFORE. BE IT RESOLVED BY THE BOARD OF TRUSTEES OF <br />THE TOWN OF LYONS. IN THE COUNTY OF BOULDER AND STATE OF <br />COLORADO: <br /> <br />1. That an election shall be held on Tuesday, November 7, 1995, in <br />conjuction with the state-wide election in the State of Colorado, at which <br />election there shall be submitted to the eligible electors of the Town a <br />question authorizing the issuance of 'water and wastewater revenue bonds or other <br />financial obligations in an amount not to exceed $2,000,000 and the use of net <br />revenues of the System and other legally available moneys of the Town to pay t.he * <br />principal oft premium, in any, and interest on such revenue bonds or other <br />financial obligations. Such question shall be certified in substantially t.he <br />following form: <br /> <br />SHALL THE TOWN OF LYONS DEBT BE INCREASED UP TO <br />$2.000,000 WITH A REPAYMENT COST OF UP TO $4, 000, 0(~0 <br />WITHOUT APPROVING ANY TAX INCREASE HEREBY, FOR THE <br />PURPOSE OF CONSTRUCTING, IMPROVING AND EQUIPPING <br />FACILITIES COMPRISING ITS WATER AND WASTEWATER SYSTEM <br />(THE "SYSTEM") INCLUDING ALL NECESSARY OR CONVENIENT <br />COSTS RELATED THERETO; SUCH DEBT TO CONSIST OF THE i <br />ISSUANCE OF WATER AND WASTEWATER REVENUE BONDS OR OTHER <br />FINANCIAL OBLIGATIONS PAYABLE FROM THE NET REVENUES OF <br />THE SYSTEM AND OTHER LEGALL Y AVAILABLE MONEYS OF THE <br />TOWN, AND ISSUED, DATED AND SOLD AT SUCH TIME OR TIMES <br />AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NUT <br />INCONSISTENT HEREWITH. AS THE BOARD OF TRUSTEES MAY <br />DETERMINE; AND FOR THE PURPOSE OF REDUCING THE AMOUNT OF <br />SUCH DEBT WHICH MAY OTHERWISE BE REQUIRED SHALL THE Tm,IN <br />