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<br />c, To set aside sufficient revenues each year to pay <br />the annual installment and to establish the reserve <br />debt service fund in a special account, separate and <br />apart from other revenues of the Town. <br /> <br />d. To establish a cash reserve account to serve as <br />collateral in the amount of one (1) annual loan <br />payment in the Town and the State's names as <br />security for the loan as described in the <br />collateral provisions of the contract. <br /> <br />e, To execute the Uniform Commercial Code Security <br />Agreement and Financing Statement to secure the <br />revenues pledged in accordance with the Pledge of <br />Revenues provisions of the contract. <br /> <br />f. To repay the loan to the State of Colorado, <br /> <br />Section 2. Th:i,.s Ordinance shall take effect thirty DO): .days <br />after publication as provided by state law. <br /> <br />PASSED, SIGNED, APPROVED, AND ADOPTED this 5th day of August, <br />1996. <br /> <br />~ <br /> <br />TOWN OF JOHNSTOWN, WATER ACTIVITY ENTERPRISE <br /> <br />BY: <br /> <br />eL@~ <br /> <br />'V1 "u <br />..."' ......... "./ <br />.g,'I'E~....., <br />. .~,: ... '. /' <br />.-,..... "'.> ~ <br />~... 'I' '""".~ <br />. =' .',E: ""'~ <br />"~' ~f){'. Diana Seele <br />\(;) '..~~..:.~ ..~..., .....0 ,. <br />~ ........ f.,t;;),- <br />.. S r 0"" ",. ~. <br />'- /' <br /> <br />Published: August 8, 1996 <br />