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O-2003-33
AN ORDINANCE
AUTHORIZING THE CITY OF LAKEWOOD TO ENTER INTO AN INTERGOVERNMENTAL AGREEMENT WITH THE MOUNT CARBON METROPOLITAN DISTRICT AND THE TOWN OF MORRISON
WHEREAS, a bankruptcy plan for the adjustment of debts of the Mount Carbon Metropolitan District has been confirmed by the United States Bankruptcy Court (the "Bankruptcy Plan"); and
WHEREAS, the Bankruptcy Plan requires approval by the Jefferson County Board of Commissioners of an Amended and Restated Service Plan in the form attached to the Bankruptcy Plan, unless such condition is waived by the City of Lakewood and the Town of Morrison; and
WHEREAS, the Jefferson County Board of Commissioners have declined to approve the Amended and Restated Service Plan; and
WHEREAS, the Mount Carbon Metropolitan District is willing to limit its exercise of the services it provides in a manner consistent with the Amended and Restated Service Plan by entering into an Intergovernmental Agreement with the Town of Morrison and the City of Lakewood; and
WHEREAS, in consideration of the Mount Carbon Metropolitan District agreeing to be contractually bound to abide by the terms of the Amended and Restated Service Plan, the Town of Morrison and City of Lakewood will waive the Bankruptcy Plan requirement that the Amended and Restated Service Plan be approved by the Jefferson County Board of Commissioners.
NOW THEREFORE BE IT ORDAINED by the City Council of the City of Lakewood, Colorado, that:
SECTION 1. The City Manager is hereby authorized to execute, and the City Clerk to attest, an Intergovernmental Agreement with the Mount Carbon Metropolitan District and the Town of Morrison which requires the Mount Carbon Metropolitan District to abide by the terms of the Amended and Restated Service Plan, as more specifically set forth in such Intergovernmental Agreement, and provides that the Town of Morrison and City of Lakewood waive the requirement for approval of the Amended and Restated Service Plan by the Jefferson County Board of Commissioners.
SECTION 2. Emergency. This ordinance is necessary for the health, safety and welfare of the City of Lakewood in order that the Effective Date of the Bankruptcy Plan may occur immediately, thereby allowing payments to creditors and issuance of Exchange Bonds in the amount of $16 million to replace approximately $70 million of existing bonds and debt.
SECTION 3. This ordinance shall take effect upon the Mayor's signature.
I hereby attest and certify that the within and foregoing ordinance was introduced
and read on first reading at a regular meeting of the Lakewood City Council
on the 13th day of October, 2003; set for public hearing on the 27th day of
October, 2003; read, finally passed and adopted by the City Council on the 27th
day of October, 2003; and signed and approved by the Mayor on the 28th day of
October, 2003.
Stephen A. Burkholder, Mayor
ATTEST:
Margy Greer, City Clerk
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