PROJC00557

• Contract/PO #: C153740
• Contractor Name: Idaho Springs, City of
• Contract Type: Loan
• Water District: 7
• County: Clear Creek
• Bill Number: EIA
• Loan Projects - Doc Type: Contract Documents

05/05/97 13: 02 FAX 303,. 4955

IDAHO SPRINGS CO~

~07

CITY OF IDAHO SPRINGS
COUNTY OF CLEAR CREEK
STATE OF COLORADO
WATER ENTERPRISE

WE ORDINANCE NO, 5, SERIES 1997

AN ORDINANCE OF mE CITY OF IDAHO SPRINGS, COLORADO,
WATER ENTERPRISE A~ORIZING mE BORROV{lNG OF MONEY,
EXECUTION AND DELIVERY OF A LOAN AGREEMENT AND SECURITY
AGREEMENT BETWEEN THE STATE OF COLORADO, FOR THE USE
AND BENEFIT OF mE DEPARTMENT OF NATURAL RESOURCES,
COLORADO WATER CONSERVATION BOARD AND mE CfrY OF
IDAHO SPRINGS, COLORADO, WATER ENTERP~S~'

WHEREAS, by Resolution No. 12, Series199,s,the,.CiifofIdaho Springs, Colorado (the
"City"), has established the City ofldaho Springs: Cgicirfclo, Water Enterprise (the "Enterprise")
as an Enterprise of the City within ~i:e~aoing;bf ArticIe X, Section 20 of the CoIorado
Constitution and C,ltS, 937-45,1-~SCQ, (I995 Supp,); and

WHEREAS, pursuant to Resolution No, 12, Series I99S, the Enterprise is authorized to
have and exercise all powers set forth under C~R.S, 937-45,1-101, and those powers set forth in
the City Code which are consistent with the authority of an enterprise under the provisions of
TABOR and necessary to operate the Enterprise, including but not limited to the following: To
hold meetings concurrently with regular or special meetings of the City Council; to adopt
ordinances in the manner in which the City ordinances may be adopted; to issue or reissue revenue
bonds, notes or other obligations payable from revenues derived or to be derived from the
provision of services in the same maruter in which the City revenue bonds may be issued, without
voter approval in advance; to pledge any revenues of the water system and services to the
payment of such revenue bonds and to pay such revenue bonds therefrom; to set rates, fees and
charges for services provided by the Enterprise; to enter into contracts relating to the water
system servicc in thc maruter in which the City contracts may be entered into; and to make
representations, warranties and covenants on behalf of the City and to bind the City to perform
any obligation relating to the water service, other than any multiple fiscal-year direct or indirect
debt or other financial obligation of the City, without adequate present cash reserves pledged
irrevocably and held for payments in all future years; and

WHEREAS, the City and the Enterprise has made an application to the State of Colorado
for the use and benefit of the Department of Natural Resources, Colorado Water Conservation
Board ("CWCB") for a loan to be used for the rehabilitation of the City's existing raw water
intake structure (the "Project"); and

WHEREAS, there has been filed with the Secretary of the Enterprise the fonn ofa Loan

AppendiX 1 to Loan Contract #C153740