HomeMy WebLinkAbout09809ORDINANCE NO. 9809
AN ORDINANCE APPROVING A REVISED PROPERTY
TAX INCREMENT REVENUE AGREEMENT BETWEEN
THE CITY OF PUEBLO AND THE PUEBLO URBAN
RENEWAL AUTHORITY AND PUEBLO SCHOOL DISTRICT
NO. 60 AND THE PUEBLO CITY-COUNTY LIBRARY
DISTRICT AND THE SOUTHEASTERN COLORADO
WATER CONSERVANCY DISTRICT AND THE LOWER
ARKANSAS VALLEY WATER CONSERVANCY DISTRICT
AND PUEBLO COUNTY, COLORADO, RELATING TO THE
EVRAZ URBAN RENEWAL PROJECT AND AUTHORIZING
THE MAYOR TO EXECUTE SAID AGREEMENT
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Revised Property Tax Increment Revenue Agreement, (“Revised Agreement”)
dated October 26, 2020 between the City of Pueblo and the Pueblo Urban Renewal
Authority and Pueblo School District No. 60 and the Pueblo City County Library District
and the Southeastern Colorado Water Conservancy District and the Lower Arkansas
Valley Water Conservancy District and Pueblo County, Colorado relating to the Evraz
Urban Renewal Project, a copy of which is attached hereto, having been approved as to
form by the City Attorney, is hereby approved. The Mayor is authorized to execute and
deliver said agreement in the name of the City and the City Clerk is directed to affix the
seal of the City thereto and attest same.
SECTION 2.
The officers and staff of the City are authorized and directed to perform any and
all acts consistent with this Ordinance and the attached Revised Agreement, which are
necessary or appropriate to implement the transactions described therein.
SECTION 3.
This Ordinance shall become effective on the date of final action by the Mayor and
City Council.
Action by City Council:
Introduced and initial adoption of Ordinance by City Council on October 13, 2020.
Final adoption of Ordinance by City Council on October 26, 2020 .
President of City Council
Action by the Mayor:
☒ Approved on October 30, 2020 .
☐ Disapproved on based on the following objections:
Mayor
Action by City Council After Disapproval by the Mayor:
☐ Council did not act to override the Mayor's veto.
☐ Ordinance re-adopted on a vote of , on
☐ Council action on __________________failed to override the Mayor’s veto.
President of City Council
ATTEST
City Clerk
City Clerk’s Office Item # R-16
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: October 13, 2020
TO: President Dennis E. Flores and Members of City Council
CC: Mayor Nicholas A. Gradisar
VIA: Brenda Armijo, City Clerk
FROM: Daniel C. Kogovsek, City Attorney
SUBJECT: AN ORDINANCE APPROVING A REVISED PROPERTY TAX INCREMENT
REVENUE AGREEMENT BETWEEN THE CITY OF PUEBLO AND THE PUEBLO
URBAN RENEWAL AUTHORITY AND PUEBLO SCHOOL DISTRICT NO. 60
AND THE PUEBLO CITY-COUNTY LIBRARY DISTRICT AND THE
SOUTHEASTERN COLORADO WATER CONSERVANCY DISTRICT AND THE
LOWER ARKANSAS VALLEY WATER CONSERVANCY DISTRICT AND
PUEBLO COUNTY, COLORADO, RELATING TO THE EVRAZ URBAN
RENEWAL PROJECT AND AUTHORIZING THE MAYOR TO EXECUTE SAID
AGREEMENT
SUMMARY:
Attached is a proposed Ordinance approving a Revised Property Tax Increment Revenue
Agreement between the Pueblo Urban Renewal Authority (“PURA”) and the six governmental
entities (including the City) which have taxing authority over the Evraz Urban Renewal Project.
PREVIOUS COUNCIL ACTION:
On November 12, 2018, by Ordinance No. 9365, City Council approved a Property Tax Increment
Revenue Agreement with PURA relating to the Evraz Urban Renewal Area.
BACKGROUND:
This Ordinance approves a Revised Property Tax Increment Revenue Agreement in which the
six taxing governmental bodies of the Evraz Project Area agree that 100% of the property tax
increment revenues will be used to pay eligible costs of the Evraz Urban Renewal Project,
including the debt service associated with the issuance of PURA’s bonds. A Revised agreement
became necessary because the boundaries of the Evraz Urban Renewal Area have changed
since 2018.
FINANCIAL IMPLICATIONS:
The City of Pueblo, along with the other five taxing governmental bodies, waive their right to
receive any property tax increment revenues until the bonds issued by PURA are paid off. After
PURA’s bonds have been paid in full and all related administrative expenses have been paid to
PURA, the City, along with the other five taxing governmental entities will begin receiving the tax
increment revenues from the Evraz project.
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this Ordinance.
STAKEHOLDER PROCESS:
City staff has collaborated with the staffs of Evraz, PURA and the five other taxing entities to
negotiate the terms and conditions of the attached Agreement.
ALTERNATIVES:
If this Ordinance is not approved, the repayment of PURA’s bonds associated with the Evraz
Urban Renewal Project will be jeopardized.
RECOMMENDATION:
The Pueblo Economic Development Corporation recommends approval of this Ordinance.
Attachments: Proposed Ordinance, proposed Revised Property Tax Increment Revenue
Agreement
REPLACEMENT PROPERTY TAX INCREMENT REVENUE AGREEMENT
(Revised EVRAZ Urban Renewal Project)
1.0 PARTIES. This Agreement (the "Replacement Agreement") is made and executed
effective as of the 26th day of October, 2020, by and among the PUEBLO URBAN RENEWAL
AUTHORITY,a body corporate and politic of the State of Colorado (the
"Authority"); PUEBLO SCHOOL DISTRICT NO. 60, a political subdivision of the State of
Colorado (the "School District"); PUEBLO CITY- COUNTY LIBRARY DISTRICT, a political
subdivision of the State of Colorado (the "Library District"); the SOUTHEASTERN
COLORADO WATER CONSERVANCY DISTRICT, a political subdivision of the State of
Colorado ("SE Water"); the LOWER ARKANSAS VALLEY WATER CONSERVANCY
DISTRICT, a political subdivision of the State of Colorado ("Lower Ark Water"); PUEBLO
COUNTY, a political subdivision of the State of Colorado (the "County"); and the CITY OF
PUEBLO, a home rule city of the State of Colorado (the "City"). The foregoing parties are also
referred to herein collectively as the "Parties" or individually as a"Party".
2.0 RECITALS. The following recitals are incorporated in and made a part of this
Replacement Agreement. Capitalized terms are defined in Section 4.0.
2.1 Previous Agreements. The Parties previously entered into a Property Tax
Increment Agreement dated November 13, 2018 (the"Original Agreement") and the Authority
and Pueblo County entered into a Supplemental Property Tax Increment Agreement dated
February 5, 2019 (the "Supplemental Agreement") in connection with the EVRAZ Urban
Renewal Plan for the EVRAZ Urban Renewal Project Area approved by the City Council of the
City on November 12, 2018 by Ordinance No. 09361 (the"Original Plan" or"Original Urban
Renewal Plan") regarding tax increment financing ("TIF Financing") authorized by the Colorado
Urban Renewal Law, Part 1 of Article 25 of Title 31, C.R.S. (the"Act"). The Original Plan was
adopted to eliminate conditions of blight that exist in the area described in the Original Plan and
to help redevelop the area for use by a major manufacturing operation that will create numerous
primary manufacturing jobs and related ancillary jobs new to the region (the "Development").
2.2 Revised Urban Renewal Plan. After approval of the Original Plan, a revision of
the scope of the Development and addition of more area requires the terminantion of the
Original Plan and adoption of a new urban renewal plan called the Evraz Rail Urban Renewal
Plan (the"Revised Plan"), which is attached to this Replacement Agreement as Exhibit A. The
Revised Plan also includes TIF financing provisions to pay Eligible Costs of eliminating the
conditions of blight in the Urban Renewal Area and provide the infrastructure necessary to carry
out the Revised Plan, which requires the Parties to replace the Original Agreement and
Supplemental Agreement with this Replacement Agreement.
2.3 Nature of Urban Renewal Project and Purpose of Agreement. The proposed
Urban Renewal Project consists of any and all undertakings and activities authorized in the
Revised Plan and the Act to eliminate blighted conditions, including demolition and clearance of
existing deteriorated buildings and structures, remediating environmental hazards, designing,
developing and constructing the Improvements(which includes paying the Eligible Costs)
necessary to serve the Development and to comply with §31-25-107(4)(g) of the Act that
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requires the Revised Plan to afford maximum opportunity, consistent with the sound needs of the
municipality as a whole, for the rehabilitation or redevelopment of the Urban Renewal Area by
private enterprise. The Revised Plan is subject to the requirements imposed by amendments to
the Act contained in HB 15-1348 (as amended by SB 16-177 and SB 17-279) on new urban
renewal plans adopted after January 1, 2016.
2.4 Waiver of Certain Provisions of the Act. In light of the benefits to the region and
the Parties as well as the cost of eliminating blight from the Area, the Parties have agreed that it
is in the public interest to enter into this Replacement Agreement and to waive certain provisions
of the Act, including relevant provisions of HB 15-1348, as amended to date.
3.0 REPLACEMENT AGREEMENT. This Replacement Agreement is executed for the
purpose of replacing the Original Agreement and Supplemental Agreement to enhance the
Authority's efforts with respect to the Development. The Original Agreement and Supplemental
Agreement are in all respects terminated and of no further force and effect and are replaced in
their entirety by this Replacement Agreement. In consideration of the covenants, promises and
agreements of each of the Parties hereto, to be kept and performed by each of them, it is agreed
by and among the Parties hereto as set forth herein.
3.0 AGREEMENT, in consideration of the covenants, promises and agreements of each of the
Parties hereto, to be kept and performed by each of them, it is agreed by and among the Parties
hereto as set forth herein.
4.0 DEFINITIONS. In this Agreement, unless a different meaning clearly appears from the
context:
4.1 "Act" means the Colorado Urban Renewal Law, §§31-25-101, et seq., C.R.S.
4.2 "Administrative Costs" means project management, market studies, feasibility
studies, economic studies, public engagement, appraisals, regulatory compliance, insurance,
accounting, consultant and legal expenses associated with the management of the Project and all
other costs required for the necessary and proper execution of and adherence to the covenants
contained in the Bond Documents.
4.3 "Area"and"Urban Renewal Area"mean the area included in the boundaries of the
Revised Plan.
4.4 "Authority" means the Party described in Section 1.0, and its successors and
assigns.
4.5 "Bonds"means any bonds (including refunding bonds), notes, interim certificates
or receipts, temporary bonds, certificates of indebtedness, debentures, or other obligations
provided in the Act.
4.6 "Bond Documents" means for each series of Bonds, the Bonds, the bond trust
indenture, the bond purchase agreement and all other documents pertaining to the issuance of the
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Bonds, including any documents or agreements required to document and pay or reimburse
Eligible Costs.
4.7 "City' means the Party described in Section 1.0, and its successors and assigns.
4.8 "Costs of Issuance"means, collectively, the reasonable and necessary costs
incurred in connection with the issuance of the Bonds, including, without limitation,
underwriter's compensation, financial consultant fees, fees and expenses of bond counsel,
counsel to the underwriter, and counsel to any party or entity from which an opinion of counsel
is required, fees and expenses of any provider of credit enhancement, bond insurance, or
guaranty, fees and expenses of the Bond trustee, bond registrar, paying agent, and transfer agent
and rating agency fees.
4.9 "County" means the Party described in Section 1.0, and its successors and
assigns.
4.10 "Duration" means the twenty-five year period that the tax increment or tax
allocation provisions will be in effect as specified in § 31-25-109(a)of the Act, and the Revised
Plan. If the Revised Plan is finally approved by the City Council after August 25, 2019 and
before December 10, 2019,the base year for calculating the Duration shall be 2019 as set forth in
the Act. The last year the assessment roll will be divided for the purposes of TIF Financing is
2044 and the last year the Authority will received Property Tax Increment Revenues is 2045.
4.11 "Eligible Costs"means the total amount of costs eligible to be paid or reimbursed
from Property Tax Increment Revenues and other pledged revenue pursuant to the Act, as set
forth in the Revised Plan, including the Bonds and the Costs of Issuance thereof. Eligible Costs
only includes those costs that are incurred within the Urban Renewal Area and the costs of off-
site improvements required for and directly related to the development, construction, or
operation of the Improvements, which costs shall be further defined in the Bond Documents and
approved by Bond Counsel. Eligible Costs attributable to Administrative Costs shall not exceed
8%of the Property Tax Increment Revenues generated on an annual basis.
4.12 "Eligible Costs"means those costs eligible to be paid or reimbursed from Property
Tax Increment Revenues and other pledged revenue pursuant to the Act.
4.13 "Improvements" means the improvements required to eliminate blight and serve
the Development as set forth in the Revised Plan.
4.14 "Improvements"means the improvements required to serve the Development.
4.15 "Library District"means the Party described in Section 1.0, and its successors and
assigns.
4.17 "Lower Ark Water" means the Party described in Section 1.0, and its successors
and assigns.
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4.18 "Party" or"Parties" shall have the meaning described in Section 1.0.
4.19 "Project" shall have the same meaning as Urban Renewal Project.
4.20 "Property Tax Increment Revenues" means all of the revenues produced by
property tax levies on the TIF portion of the property tax assessment roll, as described in § 31-25-
107(9)(a)(II), of the Act allocated to the Special Fund for the Duration of the Urban Renewal
Project.
4.21 "Replacement Agreement" means this agreement, as it may be amended or
supplemented in writing. References to sections or exhibits are to this Replacement Agreement
unless otherwise qualified.
4.22 "Revised Plan"or means the urban renewal plan defined in Section 2.2 and attached
hereto as Exhibit A.
4.23 "SE Water" means the Party described in Section 1.0, and its successors and
assigns.
4.24 "Special Fund" means the fund described in the Revised Plan and § 31-25-
107(9)(a)(II) of the Act into which the Property Tax Increment Revenues will be deposited.
4.25 "Taxing Entities" means all the Parties listed in Section 1.0 (except the Authority)
and their successors and assigns.
4.19 "TIF"means the property tax increment portion of the property tax assessment roll
described in § 31-25-107(9)(a)(I I) of the Act.
4.20 "Urban Renewal Area" shall have the same meaning as Area.
4.21 "Urban Renewal Plan" shall have the same meaning as the Revised Plan.
4.22 "Urban Renewal Project" means all of the undertakings and activities, or any
combination thereof, required to carry out the Urban Renewal Plan authorized by and pursuant to
the Act
5.0 COOPERATION. The Development is expected to bring a substantial number of primary
manufacturing jobs to the region. In accordance with §§ 31-25-107(9.5) and 112 of the Act, this
Agreement shall constitute an agreement in writing by the Taxing Entities to aid the Authority in
(1)the elimination of conditions of blight from the Property, and (2)providing necessary
infrastructure through the unqualified payment or reimbursement of Eligible Costs of the Project
by issuance of Bonds, including the following provisions.
5.1 Taxing Entities Increment Revenues. The Parties agree the Authority may retain
and expend in furtherance of the Urban Renewal Project 100%of all of the net incremental
revenue it receives from the Pueblo County Treasurer each year from the property tax levy of the
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Taxing Entities against the portion of the assessment roll located within the Area, commencing
on the date of approval of the Plan, and lasting for the maximum period of twenty-five (25) years
that the Authority is authorized to receive Property Tax Increment Revenues pursuant to the Act
(the"Duration").
5.2 Consents and Waivers. The Parties acknowledge that changes to the Act in 2015
through H.B. 15-1348 (as amended by SB 16-177 and SB 17-279) created new requirements
applicable to new or modified urban renewal projects. By entering into this Replacement
Agreement the Parties intend to resolve all questions concerning the applicability of theses
statutory changes to the matters described herein and waive the right to pursue judicial or other
remedies relating to compliance with said changes except as provided herein. To aid in the timely
execution of the Urban Renewal Project, the Taxing Bodies hereby consent to the issuance of
Bonds by the Authority and each Taxing Body waives (1) the right to receive the urban renewal
impact report described in Section 31-25-107 (3.5)(a)of the Act; (2)the right to receive any funds
to finance any additional infrastructure and services required to serve development within the
Urban Renewal Area, it being agreed that the Development and creation of primary manufacturing
jobs will create additional revenue to adequately provide for such infrastructure and services; (3)
the right to enjoin any activity of the Authority pursuant to the Revised Plan, including the right
of the Authority to issue Bonds necessary to finance the Project, as set forth in § 31-25-107 (7.5)
of the Act; (4) the rights to receive the notice and share in Property Tax Increment Revenues in
accordance with the provisions of Sections 31-25-107 (9.5) and (11) of the Act; (5) except as set
forth in Section 5.6, the arbitration rights contained in Section 31-25-107 (12) of the Act; and (6)
any other right or remedy that would materially interfere with or impair the validity of the Bonds
or the rights and remedies of any holder of the Bonds.
5.3 Pledge of Property Tax Increment Revenues. The Parties recognize and agree
that in reliance on the Replacement Agreement, the Authority intends to and shall have the
unqualified right to irrevocably pledge all of the Property Tax Increment Revenues it receives to
payment of the Eligible Costs of the Urban Renewal Project, including the Authority's Bonds for
the duration of the Urban Renewal Project. The Authority has elected to apply the provisions of
§ 11-57-208, C.R.S. to this Replacement Agreement. The Property Tax Increment Revenues,
when and as received by the Authority shall be subject to the lien of such pledge for the Duration
of the Project without any physical delivery, filing, or further act and shall be an obligation of the
Parties pursuant to § 31-25-107(9) of the Act. The Parties agree that the creation, perfection,
enforcement and priority of the pledge of The Property Tax Increment Revenues shall be
governed by § 11-57-208, C.R.S. The lien of such pledge on the Property Tax Increment
Revenues shall have priority over any of all other obligations and liabilities of the Parties with
respect to the Property Tax Increment Revenues.
5.4 Pro Rata Reimbursement. If all Eligible Costs, including any and all Bonds, and
costs of administration of the Urban Renewal Project are paid in full prior to expiration of the
Duration, the Replacement Agreement shall terminate and each of the Taxing Entities shall
receive the pro rata amount of the total Pledged Property Tax Increment Revenues produced by
its tax levy upon the portion of the property tax assessment roll described in § 31-25-
107(9)(a)(II) of the Act.
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5.5 The Bonds. The Authority shall issues Bonds pursuant to the Replacement
Agreement and secured by Property Tax Increment Revenues subject to the following
parameters.
(a) The aggregate principal amount of the Bonds shall not exceed the
reasonable and necessary Eligible Costs as determined by the Authority.
(b) The net effective interest rate of the Bonds shall not exceed 15.00%,
which is the maximum net effective interest rate hereby authorized for the Bonds.
(c) The Bonds shall mature not later than December 31, 2050.
5.6 Verification of Payments for Eligible Costs. To the Extent the Authority pays for
Eligible Costs from proceeds of the Bonds, the Bond Documents shall provide any request for
payment of Eligible Costs shall be submitted to and approved or rejected by the Authority or an
authorized trustee. All copies of cost certificates approving such requests for payments shall be
made available on a quarterly basis by the Authority to the Tax Entities at no charge to the
Taxing Entities. To the extent any dispute arises out of the provisions of this Section 5.6, the
Taxing Entities shall provide notice to the Authority of such dispute, which notice may serve as a
request for purposes of the Colorado Open Records Act. To the extent such notice provided by
the Taxing Entities does not resolve the dispute, the Parties shall pursue mediation under the
procedures set forth in § 31-25-107(9.5)(d)(II) of the Act, the fees and costs of which shall be
paid one half by the Authority and one half by the Taxing Entities; but any such mediation or any
other right or remedy(a) shall not affect the unqualified and irrevocable pledge of Property Tax
Increment Revenues as provided in Section 5.2 and(b)may and shall be superseded by the
provisions of Bond Documents required for issuance of Bonds by qualified bond counsel.
5.7 Termination and Subsequent Legislation or Litigation. In the event the Bonds are
not issued by July 1, 2021, the Replacement Agreement shall automatically terminate and each
of the Taxing Entities shall receive all of the taxes produced by its tax levy. In the event of
termination of the Revised Plan, including its TIF financing component, the Authority may
terminate the Replacement Agreement by delivering written notice to the Taxing Entities. The
Parties further agree that in the event legislation is adopted or a decision by a court of competent
jurisdiction on or after the effective date hereof that invalidates or materially effects any
provisions hereof, the Parties will in good faith negotiate for an amendment to the Replacement
Agreement that most fully implements the original intent, purpose and provisions of the
Replacement Agreement, but does not impair any otherwise valid contracts in effect at such time.
5.8 Delays. Subject to Section 5.7 herein, any delays in or failure of performance by
any Party of its obligations under the Replacement Agreement shall be excused if such delays or
failure are a result of acts of God; fires; floods; earthquake; abnormal weather; strikes; labor
disputes; accidents; regulation or order of civil or military authorities; shortages of labor or
materials; or other causes, similar or dissimilar, including economic downturns, which are
beyond the control of such Party.
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5.9 City's Covenants. During the term of this Agreement, the City expressly
waives its right to receive its share in Property Tax Increment Revenues and further agrees not to
seek reimbursement of same from the Authority.
6.0 AGREEMENT CONFINED TO URBAN RENEWAL PLAN. This Agreement applies
only to the Revised Plan and the Urban Renewal Area, and does not include any other urban
renewal plan or urban renewal area.
7.0 NO THIRD-PARTY ENFORCEMENT. It is expressly understood and agreed that the
enforcement of the terms and conditions of the Replacement Agreement, and all rights of action
relating to such enforcement, shall be strictly reserved to the Taxing Entities and the undersigned
Parties and nothing in in the Replacement Agreement shall give or allow any claim or right of
action whatsoever by any other person not included in the Replacement Agreement; provided,
however, a bond trustee or lender may enforce its rights as provided under the documents
authorizing the issuance or sale of the Bonds. It is the express intention of the Parties that any
person or entity other than the Parties receiving services or benefits under the Replacement
Agreement Agreement shall be an incidental beneficiary only.
8.0 NO ASSIGNMENT. No Party may assign any of its rights or obligations under the
Replacement Agreement; provided, however, the Replacement Agreement may be assigned by a
Party to a successor of such Party.
9.0 MISCELLANEOUS.
9.1 Entire Agreement. This Replacement Agreement embodies the entire agreement
of the Parties with respect to the subject matter hereof. There are no promises, terms, conditions,
or obligations other than those contained herein; and this Replacement Agreement shall
supersede all previous communications, representations, or agreements, either verbal or written,
between the Parties hereto. No modification to this Replacement Agreement shall be valid unless
agreed to in writing by the Parties.
9.2 Binding Effect. This Replacement Agreement shall inure to the benefit of and be
binding upon the Parties and their successors in interest.
9.3 No Waiver of Immunities. No portion of this Replacement Agreement shall be
deemed to constitute a waiver of sovereign or governmental immunity that the Parties or their
officers or employees may possess, nor shall any portion of this Replacement Agreement be
deemed to have created a duty of care which did not previously exist with respect to any person
not a party to this Agreement.
9.4 Amendment. This Replacement Agreement may be amended only by an
instrument in writing signed by the Parties.
9.5 Parties not Partners. Notwithstanding any language in this Replacement
Agreement or any other agreement, representation, or warranty to the contrary, the Parties shall
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not be deemed to be partners or joint venturers, and no Party shall be responsible for any debt or
liability of any other Party.
9.6 Interpretation. All references herein to Bonds shall be interpreted to include the
incurrence of debt by the Authority in any form consistent with the definition of"Bonds" in the
Act, including payment of Eligible Costs or any other lawful financing obligation.
9.7 Incorporation of Recitals and Exhibits. The provisions of the Recitals and any
exhibits attached to this Replacement Agreement are incorporated in and made a part of this
Replacement Agreement.
9.8 Execution in Counterparts. This Replacement Agreement may be executed in
several counterparts, each of which shall be deemed an original and all of which shall constitute
but one and the same instrument.
9.9 No Presumption. The Parties to this Replacement Agreement and their attorneys
have had a full opportunity to review and participate in the drafting of the final form of this
Replacement Agreement. Accordingly,this Replacement Agreement shall be construed without
regard to any presumption or other rule of construction against the Party causing the
Replacement Agreement to be drafted.
9.10 Severability. If any provision of this Replacement Agreement as applied to any
Party or to any circumstance shall be adjudged by a court to be void or unenforceable, the same
shall in no way affect any other provision of this Replacement Agreement, the application of any
such provision in any other circumstances or the validity, or enforceability of the Replacement
Agreement as a whole.
9.11 Minor Changes. This Replacement Agreement has been approved in substantially
the form submitted to the governing bodies of the Parties. The officers executing this Revised
Agreement are authorized to make and may have made, minor changes to this Replacement
Agreement as they have considered necessary. So long as such changes were consistent with the
intent and understanding of the Parties at the time of approval by the governing bodies, the
execution of the Replacement Agreement shall constitute the approval of such changes by the
respective Parties.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized officials
to execute this Replacement Agreement effective as of the day and year first above written.
ATTEST: PUEBLO URBAN RENEWAL AUTHORITY
By: By:
Secretary/Executive Director Chair
ATTEST: PUEBLO COUNTY
By: By:
ATTEST: SCHOOL DISTRICT NO. 60
By: By:
ATTEST: PUEBLO CITY-COUNTY LIBRARY DISTRICT
By: By:
ATTEST: SOUTHEASTRN COLORADO WATER
CONSERVANCY DISTRICT
By: By:
ATTEST: LOWER ARKANSAS WATER CONSERVANCY
DISTRICT
By: By:
ATTEST: CITY OF PUEBLO
B By: KAill
Brenda Armijo, City Cle Nicholas A. Gradisar, Mayo
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IN WITJP,
NESS WHEREOF, the Parties hereto have caused their duly authorized officials
to execute th' • Replacement Agreement effective as of the day and year first above written.
14 ATTE PIJ LO URBAN RENEWAL AUTHORITY
By: _, —
Secret. y ;xecutive Director Chair
ATTEST': PUEBLO COUNTY
By: By:
ATTEST: SCHOOL DISTRICT NO. 60
By: By:
ATTEST: PUEBLO CITY-COUNTY LIBRARY DISTRICT
By: _..___. By
ATTEST: SOUTHEAS"CRN COLORADO WATER
CONSERVANCY DISTRICT
By: By:
ATTEST: LOWER ARKANSAS WATER CONSERVANCY
DISTRICT
By: By:
ATTEST: CITY OF PUEBLO
By: _ -- — By:
9
IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized officials
to execute this Replacement Agreement effective as of the day and year first above written.
ATTEST: PUEBLO URBAN RENEWAL AUTHORITY
By: By:
Secretary/Executive Director Chair
ATTEST. PUEBI. 'Ot IN FY
414
•
By: By:
ATTEST: SCHOOL DISTRICT NO. 60
By: By:
ATTEST: PUEBLO CITY-COUNTY LIBRARY DISTRICT
By: By:
ATTEST: SOUTIIEASTRN COLORADO WATER
CONSERVANCY DISTRICT
By: By:
ATTEST: LOWER ARKANSAS WATER CONSERVANCY
DISTRICT
By: By:
ATTEST: CITY OF PUEBLO
By: By:
9
IN WITNESS WHEREOF,the Parties hereto have caused their duly authorized officials
to execute this Replacement Agreement effective as of the day and year first above written.
ATTEST: PUEBLO URBAN RENEWAL AUTHORITY
By: By ,.
Secretary/Executive Director Chair
ATTEST: PUEBLO COUNTY
ATTEST: SSM () DISTRICT No Cll0 •�
11
ATTEST: PUEBLO CITY-COUNTY LIBRARY DISTRICT
By:
ATTEST: SOUTHEASTRN COLORADO WATER
CONSERVANCY DISTRICT
E3 --A 'tet.( c ,NA 5) C;'.....1.) By:
ATTEST: LOWER ARKANSAS WATER CONSERVANCY
DISTRICT
By
ATTEST: CITY OF PUEBLO
By: By:
9
IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized officials
to execute this Replacement Agreement effective as of the day and year first above written.
ATTEST: PUEBLO URBAN RENEWAL AUTHORITY
By: —
_--__-_-- By:
Secretary/Executive Director Chair
ATTEST: PUEBLO COUNTY
By: _— — By: __-
ATTEST: SCHOOL DISTRICT NO. 60
By: By:
SONYA M. WEST
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20174043820
ATTg COMMISSION EXPIRES OCT 23,2021 PUEBL CITY-CO . TY LIBRARY DISTRICT
B
ATTEST: SOUTI COL 4400 WATER
CONS • CY DISTRICT
By: By:
ATTEST: LOWER ARKANSAS WATER CONSERVANCY
DISTRICT
By: By:
ATTEST: CITY OF PUEBLO
By: _ — By:
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IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized officials
to execute this Replacement Agreement effective as of the day and year first above written.
ATTEST: PUEBLO URBAN RENEWAL AUTHORITY
By: By:
Secretary/Executive Director Chair
ATTES'I;//, J PUEBI, 'Ol iN I'Y
By: -'` '44 By:
ATTEST: SCHOOL DISTRICT NO. 60
By: By:
ATTEST: PUEBLO CITY-COUNTY LIBRARY DISTRICT
By: By:
ATTEST: SOUTHEASTRN COLORADO WATER
CONSERVANCY DISTRICT
By: By:
ATTEST: LOWER ARKANSAS WATER CONSERVANCY
DISTRICT
61,
By: By: (Ywyicn
ATTEST: CITY OF PUEBLO
By: _._.. By:
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