My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
C150016 Contract
CWCB
>
Loan Projects
>
Backfile
>
1001-2000
>
C150016 Contract
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/4/2011 9:39:45 AM
Creation date
10/6/2006 12:21:49 AM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150016
Contractor Name
Idaho Springs, City of
Contract Type
Loan
Water District
7
County
Clear Creek
Bill Number
HB 98-1189
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
62
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br /> <br />Amendment repayments and shall execute and deliver to the CWCB the Amended Security <br />Agreement pursuant to the Loan Amendment as security for the Loan Amendment repayments. <br /> <br />Section 3. Limited Obligation; Special Obligation. The obligations of the City, <br />acting by and through the Enterprise, set forth in the Financing Documents are payable solely <br />from the Pledged Revenues (as defmed in the Loan Amendment) and the Financing Documents <br />do not constitute a debt within the meaning of any constitutional or statutory limitation or <br />provision. No elected or appointed officers or agents of the City shall be subject to any <br />pecuniary liability in connection with any contract, covenant, or undertaking by the City, or by <br />them, contained in any document executed in connection with the authorization, execution, and <br />delivery of the Financing Documents or this Ordinance or with respect to any action taken or <br />omitted to be taken in good faith with reference thereto. <br /> <br />Section 4. Disposition and Investment of Loan Proceeds. The proceeds of the <br />Loan Amendment shall be applied to pay the costs and expenses of acquiring, constructing, <br />equipping, and completing the Project, including costs related thereto and reimbursement to the <br />City for capital expenditures heretofore incurred and paid from City funds in anticipation of the <br />incurrence of long-term fmancing therefor, and all other costs and expenses incident thereto, <br />including without limitation the costs of obtaining the Loan Amendment. The CWCB shall not <br />be responsible for the application or disposal by the City or any of its officers of the funds <br />derived from the Loan Amendment. In the event that all of the proceeds of the Loan Amendment <br />are not required to pay such costs and expenses, any remaining amount shall be used for the <br />purpose of paying the principal amount of the Loan Amendment and the interest thereon. <br /> <br />Section 5. Estimated Life of Improvements. It is hereby determined that the <br />estimated life of the Project to be financed with the proceeds of the Loan Amendment is not less <br />than the final maturity of the Loan Amendment. <br /> <br />Section 6. Direction to Take Authorizing Action. The appropriate officers of the <br />City and members of the Council are hereby authorized and directed to take all other actions <br />necessary or appropriate to effectuate the provisions of this Ordinance, including but not limited <br />to such certificates and affidavits as may reasonably be required by the CWCB. <br /> <br />Section 7. Ratification and Avproval of Prior Actions. All actions heretofore <br />taken by the officers of the City and members of the Council, not inconsistent with the <br />provisions of this Ordinance, relating to the Financing Documents, or actions to be taken in <br />respect thereof, are hereby ratified, approved, and confirmed. <br /> <br />Section 8. Severability. If any section, paragraph, clause, or prOVISIOn of this <br />Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or <br />unenforceability of such section, paragraph, clause, or provision shall not affect any of the <br />remaining provisions of this Ordinance, the intent being that the same are severable. <br /> <br />Section 9, Revealer. All orders, resolutions, bylaws, ordinances or regulations of the <br />City, or parts thereof, inconsistent with this Ordinance are hereby repealed to the extent only of <br />such inconsistency. <br /> <br />CAK\54722\402612.02 <br /> <br />-3- <br />
The URL can be used to link to this page
Your browser does not support the video tag.