C150081 Contract

• Contract/PO #: C150081
• Contractor Name: Victor, City of
• Contract Type: Loan
• Water District: 12
• County: Teller
• Bill Number: HB 95-1155
• Loan Projects - Doc Type: Contract Documents

CITYOFVICTOR

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WHEREAS, repayment of the loan obligation evidenced by the Loan Contract and
interest thereon is secured solely from revenues of the the Enterprise, and such obligation
does not constitute a debt of the City or the Enterprise within the meaning of any
constitutional or statutory limits. '

BE IT ORDAINED ,BY THE CITY OF VICTOR, COLORADO, WATER AND
WASTEWATER ENTERPRISE

1, The forms of the Loan Contract, the Promissory Note and the Security
Agreement required by the State as security for repayment of the borrowed funds and any
changes thereto as may be necessary in' the opinion of the attorney and bond counsel for,
the Enterprise to effeptuate the intentions of the parties or to comply with the provisions
of applicable law is hereby approved. A copy of the Loan Contract shall be available for
inspection at City Hall during normal business hours and shall not be published with this
Ordinance. '

2. The President and Secretary of the Enterprise are hereby authorized and
directed to execute and deliver the Loan Contract to the CWCB. Said officers of the
Enterprise are further authorized to sign the Security Agreement and/or to create a
security interest as set forth in the Loan Contract.

3. The proceeds of the loan shall be used for rehabilitation of the dam, spillway.
and outlet works for Victor Reservoir 'No.2, and those funds, together with available
grants, if any, other loans, if any, and the revenues from the City of Victor Water and
Wastewater system, are hereby appropriated to pay for such rehabilitation. .

4. This Ordinance is, and shall constitute, a legislative measure, and after the
Loan Contract, the Promissory Nota and the Security Agreement are executed and
delivered, this Ordinance shall constitute an irrevocable contract between the Enterprise
and the, State, and this Ordinance shall ce'and shall ramain irrepealable until the loan shall
be fully paid,. satisfied or discharged. '

5, All action not inconsistent with the provisions of this Ordinance heretofore
taken by the City and the Enterprise or the officers thereof and directed toward the
execution and delivery of the Loan Contract is hereby ratified, approved and confirmed.

6. All ordinances, resolutions, orders and other instruments, or parts thereof,
inconsistent herewith are hereby repealed to the extent only of such inconsistency. This
repealer shall not be construed to revive any ordinance, resqlution, order or other
instrument, or part thereto heretofore repealed.

7. If any section, subsection, paragraph, clause, or other provision of this
Ordinance shall for any reason be held to be\nvalid or unenforceable; the invalidity or
unenforceability thereof shall not affect any of the remaining sections, subsections,
paragraphs, clauses or provisions of this Ordinance,

APPENDIX 3 (1) TO LOAN CONTRACT