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PROOF OF PUBLICATION CLEAR CREEK COURANT PO Box 2020 Idaho Sp:dng5, CO 80452 State of Colorado ) ) S5. County of Clear Creek ) I, Craig S. McMullin, do solemnly swear that I am publisher of the Clear Creek Courant; that the same is a weekly newspaper printed, in whole or in part, and published in the County of Clear Creek, State of Colorado, and has a general circulation therein; that said newspaper has been published continuously and uninterruptedly in said County , of Clear Creek for a period of more than fifty-two consecutive weeks next prior to the first publica- tion of the annexed legal notICe or advertisement; that said newspaper has been admitted to the United States mails as second-class matter under the provisions of the Act of March 3, 1879, or any amendment thereof, and that said newspaper is a weekly newspaper duly qualified for publishing legal notices and advertisements within the mean- ing of the laws of the State ofColorado. I also swear that the annexed legal notice of advertisement was published in the regular and entire issues of said newspaper for the number of consecutive weeks listed in the notice, that the first publication was in the issue listed in the notice attached a that the final iss e publication was in the issu ist d i the notice tta ed. . ~ .McMul' Publisher Clear Creek Courant 1634 Miner Street, PO Box 2020 Idaho Spr~::gs, CO 80452-2020 Subscribed and sworn to before me, a notary public in and for the County of Clear Creek, State of Colorado, the It? day Of~, A.D. 2002. OflLe ~{l1jJYl L,/Q ~~JLU1 Notary Public I /J - /J My commission expires - tJ'J i;(l?1I L-0306-10 CITY OF IDAHO SPRINGS Clear Creek County, Colorado Ordinance No. 02, Series 2002 AN ORDINANCE APPROVING AN AMENDMENT TO A PRIOR LOAN FROM THE COLORAOO WATER CONSERVATION BOARD TO INCREASE THE PRINCIPAL AMOUNT OF SAID LOAN FROM $955,000 TO $1,165,000; AUTHO- RIZING THE FORM AND EXECU- TION OF THE LOAN CONTRACT AMENDMENT, A PROMISSORY NOTE TO EVIDENCE SUCH LOAN AMENDMENT, AND AN AMENDED SECURITY AGREEMENT IN CON- NECTION THEREWITH; PRESCRIB- ING OTHER DETAILS IN CONNEC- TION THEREWITH; AND DECLAR- ING AN EMERGENCY. WHEREAS. the City of Idaho Springs, In the County of Clear Creek and State of Colorado (the "City"), is a statutory CIty duly existing under the Constitution and laws of the State of Colorado, more particularly Title 31, , Colorado Revised Statutes ("C.R.S."); and WHEREAS, the members of the City Council of the City (the "Council") have been duly elected and qualified; and WHEREAS, the Council has deter- mined and does hereby determine that ~he City's joi~t water and sewer system IS an enterpnse (the "Enterprise") with~ in the meaning of Article X, Section 20 of the Colorado Constitution and Section 37-45.1-103, C.R.S.; and WHEREAS, the Council has heretofore determined that the interest of the City and the public interest and necessity demand and require the acquisition, construction, and comple- tion of certain water facilities, at a cost originally esti~ated at approximately $1,1PO,000, Including design, engi~ neenng, legal, financing and adminis- trative costs relating thereto, and any other costs iIJ..pidental thereto -(the "Project"); and WHEREAS, pursuant to the Loan Contract Number C150016 by and between the Colorado Water Conservation Board ("CWeS") and the City, Cl;cting by and through the Enterprise, the Enterprise received a loan in the amount of $955,000 (the "2000 Loan") from the CWCB to finance a portion of the Project; and , WHEREAS, the Council has deter- mined that in order to finance the remainder of the Project, it is neces- sary and advisable and in the best interests of the City, acting by and through the Enterprise; to enter into an amendment to the 2000 Loan to increase the aggregate principal amount of the 2000 Loan from $955,000 to $1,165,000 (the "Loan f'mendment") in order to pay Increased and additional costs ~ncurred to date and expected to be Incurred to complete the Project; and WHEREAS, the City's repayment obligations under the Loan Ame~dment shall be evidenced by a promissory note (the "Note") to be issued by the City to the CWCS; and WHEREAS, pursuant to Section 31-35-402, CR.S" the City is author- ized to issue revenue bonds payable solely from the revenues of the Enterprise; and WHEREAS. the Note, the Loan Amendment, and the amended securj. ty agreement executed in connection with the Loan Amendment (th "Amended Security Agreement") (co lectively, the Note, the Loa Amendment, and the Amende Security Agreement shalf be referre to herein as the "Financin Documents") shaH be revenue obliga tions of the City, acting by and throug the Enterprise, payable solely from th net. re~enues of the Enterprise, whic obhgatlon shalf be on a parity with th City's: (1) Loan Agreement dated Jun 1, 1996 with the Colorado Wate Resources and Power Developmen Authority ("CWRPDA"); (2) Loa Agreement dated October 15, 199 with CWRPDA; and (3) Loan Agreement dated January 30, 2002 with CWRPDA; and WHEREAS, the Council hereby determines to use the proceeds of the Loan Amendment to effect the comple- tion of the Project; and WHEREAS, there have been pre. sented to the Council the forms of the Financing Documents; and WHEREAS, the Council desires to approve the forms of the Financlng Documents and authorize the eXecu~ tion thereof; and WHEREAS, pursuant to Section 31-11-105, C.R.S" the Council may pass an emergency ordinance. NOW, THEREFORE, BE iT ORDAINED BY THE CITY COUNCIL OF THE CITY OF iDAHO SPRINGS COLORADO: ' Section 1. Approvals Authorizations, and Amendments. The forms of the Financing Documents pre. sented at this meeting are incorporat- ed herein by reference and are hereby approved. The City, acting by and through the Enterprise, shall enter into and perform its obligatlons under the Financing Documents in the forms of such documents, with such changes as .are ndt inconsistent herewith. The Mayor and City Clerk are hereby authorized and directed to execute the Financing Documents and to affix the seal of the City thereto, and further to execute and authenticate such other documents or certificates as are deemed necessary or desirable in con. nection therewith. The Financing Documents shall be executed in sub- stantially the forms approved at this meeting, with such changes as are hereafter approved by the CHy Administrator or the Mayor, The exe- . cution of any instrument or certificate or other document in connection with the matters referred to herein by the Mayor and City Clerk or by other appropriate officers of the City, shall be concfusive evidence of the approval by the City of such instrument. Section 2. Loan Details'. The Loan Amendment shall be in the prlncipal. amount of not to exceed $210,000 (bringing the total principal amount of the 2000 Loan and the Loan Amendment to an amount not to exceed $1,165,000), shall bear interest at a net effective interest rate not to exceed 5.50% per annum, and shaH have a maximum maturity of not to exceed thirty (30) years from the date Ihe ewcs determines that the Project is substantially complete, as provided in the Loan Amendment, and shail be payable in the .time and manner, and shall be SUbject to prepayment, as set forth in the Financing Documents. The City shall execute and deliver to the ewcs the Note pursuant to the Loan Amendment as eVidence of the Loan Amendment repayments and shaH