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2002-78

A RESOLUTION

AUTHORIZING THE CITY OF LAKEWOOD TO ENTER INTO AN AGREEMENT WITH THE 640 IMPROVEMENT CORPORATION AND THE ONE HORSE BUSINESS IMPROVEMENT DISTRICT WHICH AUTHORIZES THE ASSIGNMENT TO THE ONE HORSE BUSINESS IMPROVEMENT DISTRICT OF THREE AGREEMENTS WHICH THE CITY HAD AUTHORIZED WITH THE 640 IMPROVEMENT CORPORATION

WHEREAS, the City has encouraged the earliest possible conversion of overhead electrical facilities to serve the Colorado Mills Project and to provide orderly traffic patterns and development because such development will provide a significant financial benefit to the City, and;

WHEREAS, the City Council has previously authorized Agreements for use of Overhead Conversion Fund Credits by Resolutions 2001-13, Resolution 2001-81 and Resolution 2002-49, and;

WHEREAS, the One Horse Business Improvement District is taking over the responsibility to pay back overhead conversion funds to the City and an assignment needs to be approved by the City allowing assignment from the 640 Improvement Corporation to the One Horse Business Improvement District.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakewood, Colorado, that:

SECTION 1. The City is authorized to enter into an agreement with the 640 Improvement Corporation and the One Horse Business Improvement District which provides for the assignment of the Agreements for use of Overhead Conversion Fund Credits authorized by Resolutions 2001-13, 2001-81 and 2002-49 from the 640 Improvement Corporation to the One Horse Business Improvement District.

SECTION 2. The City Manager is authorized to execute and the City Clerk to attest to the Agreement, in form approved by the City Attorney.

SECTION 3. This Resolution shall be in full force and effect upon its passage and approval.

INTRODUCED, READ AND ADOPTED by a vote of 10 for and 0 against at a regular meeting of the City Council on October 28, 2002, at 7 o'clock p.m. at Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.

Stephen A. Burkholder, Mayor

ATTEST:
Margy Greer, City Clerk