Emergency Water Loan

AN ORDINANCE APPROVING A LOAN FROM THE TOWN OF PALMER LAKE GENERAL FUND TO THE TOWN OF PALMER LAKE WATER ENTERPRISE (“ENTERPRISE”) IN THE AGGREGATE PRINCIPAL AMOUNT OF $500,000.00 AND AT THE SAME INTEREST RATE (2%) AND TERM (20 YEARS) AS THE LOAN ENTERED INTO BY THE ENTERPRISE WITH THE COLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITY (“CWRPDA”) PURSUANT TO ORDINANCE 2018-3, AUTHORIZING THE FORM AND EXECUTION OF THE PROMISSORY NOTE TO EVIDENCE SUCH LOAN; PRESCRIBING OTHER DETAILS IN CONNECTION THEREWITH; AND DECLARING AN EMERGENCY...