HomeMy WebLinkAbout1981 Ordinance No. 059•
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ORDINANCE NO. 59
SERIES OF 1981
BY AUTHORITY COUNCIL BILL NO. 64
INTRODUCED BY COUNCIL
MEMBER BRADSHAW
AN ORDINANCE AUTHORIZING THE ISSUANCE OF
USE TAX REVENUE BONDS or THI CITY OF ENGLEWOOD,
COLORADO, IN THE TOTAL PRINCIPAL AMOUNT OF
$2,215,000, FOR THI PURPOSE or CONSTRUCTING
IMPROVEMENTS TO THE MUNICIPAL GOLF COURSE
CONSISTING OF A NEW CLUBHOUSE, AND CONSTRUCTING
AND INSTALLING IMPROVEMENTS TO THE MUNICIPAL
SANITARY SEWER SYSTEMJ PRESCRIBING THE FORM OF
SAID BONDS AND INTEREST COUPONS 1 PROVIDING FOR
THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON
SAID BONDS FROM THE REVENUES OF THE MUNICIPAL
USE TAX; AND PROVIDING OTHER COVENANTS AND
DETAILS IN CONNECTION THEREWITH.
'WHEREAS, the City Council of the City of Englewood
has determined that it is necessary to construct improvements to
the municipal golf course, to include constructing and equipping a
new clubhouse; and
WHEREAS, the City Council ha• further determined that it
is necessary to construct and install improvements to the munici-
pal sanitary sewer system; and
WHEREAS, pursuant to House Bill 1419 (Section 29-2-112
C.R.S. 1973, as amended, et. seq.) passed by the Fifty-Third
General Assembly of the State of Colorado and effective as of July
1, 1981, a county, city, or town which has enacted a sales or use
tax, or both, and has provided for the creation of a special fund
for the deposit of all or any part of the revenue from the sales
or use tax, or both, for capital improvements, may issue revenue
bonds payable solely from the special fund for the purpose of
financing capital improvements; and
WHEREAS, the City has previously enacted a sales
tax of 3% on the purchase price paid or charged upon all retail
sales and purchases of tangible per•onal property within the City,
and a use tax of 3%, upon the privilege of storing, using or
consuming within the boundaries of the City, any articles of
tangible personal property purchased at retail from sources
• outside the city limits, as defined and limited by Title 13,
Chapter 4 of the Municipal Code; and
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WHEREAS, Section 13-4-35 of the Municipal Code provides
that the use tax portion of the municipal sales and use tax
enacted by the City shall be deposited into a separate capital
improvement account and used solely to fund and ~inance capital
improvements of the City; and
WHEREAS, the City Council has determined to issue Use
Tax Revenue Bonds payable from the special fund designated herein,
containing the use tax portion of the sales and use tax imposed
and collected by the City; and
WHEREAS, the Use Tax Revenue Bonds authorized herein
shall consist of two separate series, Series 1981A relating to the
golf course project in the principal amount of $465,000, and
Series 1981B relating to the sanitary sewer system improvements
in the principal amount of $1,750,000; and
WHEREAS, the City has not previously authorized or
issued bonds or any other obligations pledging the use tax reve-
nues of the City; and
WHEREAS, each Series shall have a first and prior
lien on the use tax revenue and special fund (but not necessarily
an exclusive first lien) on a parity with one another; and
WHEREAS, Section 29-2-112 C.R.S. 1973, provides that the
revenue bonds authorized by said Article 2 may be authorized and
issued by an ordinance of the governing body of the City, without
any further election; and
WHEREAS, pursuant to said Sect ion 29-2-112 ( 9) and the
City Charter, the bonds authorized by this ordinance shall not
constitute an indebtedness of the City within the meaning of any
constitutional, statutory or charter provision or limitation;
and
WHEREAS, by Resolution passed and adopted on June 15,
1981, the City has authorized and directed the publication of the
Notice of Sale of bonds; and
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WHEREAS, the City r eceived and opened bids for the
• purchase of the bonds, and has approved the award of the contract
for the sale of the bonds to the beat bidder1 and
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WHEREAS, it is necessary to provide for the form of
the bonds and interest coupons, the bond details and provision for
the payment of said bonds, together with other provisions relating
to the authorization and issuance of bondas
BE IT ORDAINED BY THI CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO:
Section 1. Authorization. That for the purpose of
constructing improvements to the aunicipal golf course consisting
of a new clubhouse, and constructing and inatalling improvements
to the municipal sanitary sewer ayatea, there are hereby author-
ized Use Tax Revenue Bonds of the City of Inglewood, Series 1981A
in the principal amount of $465,000 for the golf course project
("Series 1981A Bonds"), and Serie• 19818 in the principal amount
of $1,750,000 for the sanitary sewer ayatem project ("Series 1981B
Bonds") and collectively referred to herein as the "bonds". The
principal thereof and the interest thereon shall be payable solely
and only out of the proceeds of the municipal use tax authorized
pursuant to Section 13-4-14 of the Municipal Code of the City, and
the special fund or funds described in this Ordinance.
Sect ion 2. Bond Details. That each series of bonds
shall be dated September 1, 1981, and be in the denomination of
$5,000 each, numbered 1 to 93, inclusive, for the Series 1981A
Bonds and from 1 to 350, inclusive, for the Series 1981B Bonds,
shall be payable to bearer, and bear intereat from date to matur-
ity, payable on May 1, 1982, and semiannually thereafter on
the 1st day of May and the 1st day of November each year, and
mature serially on November 1, as followa:
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• Series Interest Series Interest
Maturity 1981A Rate 19818 Rate
1982 $ 15,000 12.00i $ 65,000 12.00%
1983 30,000 12.00i 120,000 12.00%
1984 35,000 12.00i 130,000 12.00%
1985 40,000 12.00\ 145,000 12.00%
1986 45,000 12.00\ 165,000 12.00%
1987 45,000 10.50\ 180,000 10.50%
1988 55,000 10.25\ 200,000 10.25%
1989 60,000 10.50\ 225,000 10.50%
1990 65,000 10.75\ 245,000 10.75%
1991 75,000 11.00• 275,000 11.00%
The net effective interest rate of the Series 1981A
Bonds isl0.922355~er annum, and the Series 19818 Bonds is 10.922355%
per annum.
The bonds of each Series maturing on or before November
l, 1986, shall not be redeemable prior to their respective matur-
ity dates. Bonds maturing on November 1, 1987, and thereafter,
shall be redeemable at the option of the City on November l, 1986,
and on any interest payment date thereafter, in inverse numerical
.• order, upon payment of par, accrued interest and a premium of li
of the principal amount thereof.
Notice of prior redemption ahall be given by publication
at least one time in a newspaper having general circulation in the
City of Englewood, not less than thirty (30) days prior to the
date of redemption, and notice ahall also be given by mailing a
copy of the notice by certified, first class mail, to the orig-
inal purchaser of the bonds, at least thirty (30) days prior to
the date of redemption.
The principal of and interest on each Series of bonds
shall be payable at The First National Bank of Englewood, in
Englewood, Colorado.
Section 3. Form and Execution of Bonds and Interest
Coupons. The bonds shall be signed with the facsimile signature of
the Mayor of the City, attested and countersigned by the manual
signature of the Director of Finance, ex-officio City Clerk-
Treasurer, and sealed with a facsimile of the official seal of the
• City, and the interest coupons to be signed with the facsimile
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signature of the Director of Fi n ance. When issued as aforesaid as
• part of said bonds, such interest coupon• shall be the binding
obligations of the City according to their import.
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Should any officer whose manual or facsimile signature
appears on said bonds or the coupon• attached thereto cease to
be such officer before delivery of the bonds to the purchaser,
such manual or facsimile signature abal l nevertheless be valid
and sufficient for all purposes.
The bonds and the intereat coupon• attached thereto
shall be in substantially the following form:
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STATE OF COLORADO
No.
(Form of Bond)
UNITED STATES or AMERICA
COUNTY OF ARAPAHOE
CITY or ENGLBWOOD
USE TAX REVENUE BOND, SERIES 1981A
19818
$5,000
The City of Englewood, ~n the County of Arapahoe
and State of Colorado, for value received, hereby promises to pay
to t'-e bearer hereof, out of the apecial fund• hereinafter desig-
nated but not otherwise, the principal aum of
FIVE THOUSAND DOLLARS
in lawful money of the United Stat•• of America, on the 1st day
of November, 19_, with intereat thereon from date to maturity,
at the rate of per centum ( t)
per annum, payable on May 1, 1982, and ae•iannually thereafter on
the 1st day of May and the lat day of Noveaber each year. Both
principal and interest are payable at The First National Bank of
Englewood, in Englewood, Colorado, upon preaentation and surrender
of the attached coupons and thi• Bond as they severally become
due.
Bonds maturing on or before November 1, 1986, are not
redeemable prior to their reapective maturity dates. Bonds
maturing on November 1, 1987, and thereafter, shall be redeemable
at the option of the City on November 1, 1986, and on any interest
payment date thereafter, in inverse numerical order, upon payment
of par, accrued interest and a premium of 11 of the principal
amount thereof. Notice of prior redemption ahall be given in the
time and manner set forth in the Ordinance authorizing the issu-
ance of this Bond.
This Bond is issued by the City of Inglewood, Colorado,
for the purpose of constructing
--[For Series 1981A Bonds] -improvements to the municipal golf
course consisting of a new clubhouae,
--[For Series 1981B Bonds] -and inatalling improvements to the
municipal sanitary sewer system,
under the authority of and in full conformity with the Constitu-
tion and Laws of the State of Colorado, the Charter of the City,
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and pursuant to Ordinance No . _, Series of 1981, of the City
duly passed and adopted prior to the issuance of this Bond. The
Bo nds of this series are issued under the authority of Title 29,
Article 2, Section 111, and, in accordance with said Section, such
recital shall conclusively impart full compliance with all of the
provisions of that Section, and all bonds issued containing such
recital shall be incontestable for any cause whatsoever after
their delivery for value.
--[For Series 1981A Bonds] -Both the principal of and interest
on this Bond are payable solely out of the •city of Englewood Use
Tax Revenue Bond Fund Series 1981A", or if necessary, from the
•city of Englewood Use Tax Revenue Bond Reaerve Fund", all as more
particularly set forth in the ordinance authorizing the issuance
of this Bond. The Series 1981A Bonda conatitute a first and prior
lien on the special funds referred to above (although not an
exclusive such lien) on a parity with the lien of the Use ~ax
Revenue Bonds Series 1981B, dated September 1, 1981, author-
ized by the City concurrently with the authorisation of the Seri••
1981A Bonds.
--[For Series 1981B Bonds] -Both the principal of and intereat
on this Bond are payable solely out of the "City of Inglewood U••
Tax Revenue Bond Fund Series 1981 B", or if necessary, fro• th•
•city of Englewood Use Tax Revenue Bond Reaerve Pund", all a• 110re
particularly set forth in the ordinance authorizing th• issuance
of this Bond. The Series 1981B Bonda constitute a first and prior
lien on the special funds referred to above (although not an
exclusive such lien) on a parity with the lien of the Use Tax
Revenue Bonds Series 1981A, dated Septe•ber 1, 1981, author-
ized by the City concurrently with the authorization of the Series
1981B Bonds.
This Bond does not constitute a debt of the City of
Englewood within the meaning of any constitutional, statutory
or charter limitation or provision, and shall not be considered
or held to be a general obligation of the City. The holder of
this Bond may not look to any general or other fund of the City
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for the payment of the princ ip~l of or interest on this obliga-
tion, except the special funds re fe rred to above.
It is hereby certified, recited and warranted that for
the payment of this Bond, the City has created and will maintain
the special funds and will deposit therein, out of t~e revenues of
the municipal use tax, the amounts and revenue specified in said
Ordinance, and out of said special funda, and as an irrevocable
charge thereon, will pay this Bond and the interest thereon, in
the manner provided by said Ordinance.
It is further recited and certified that all require-
ments of law and all conditions precedent have been fully complied
with by the proper officers of the City in the issuance of this
Bond.
IN TESTIMONY WHEREOF, the City of Englewood, .Colorado,
has caused this Bond to be signed with the facsimile signature of
its Mayor, sealed with a facsimile of the seal of the City,
attested and countersigned by the manual signature of the Director
of Finance, ex-officio City Clerk-Treasurer, and the interest
coupons attached hereto to be signed with the facsimile signature
of the Director of Finance, as of the 1st day of September, 1981.
(FACSIMILE
S E A L )
ATTESTED AND COUNTERSIGNED:
(Manual Signature)
(Do Not_H~ign)
Director of Finance, ex-officio
City Clerk-Treasurer
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CITY OF ENGLEWOOD, COLORADO
Bys
(Facsimile Signature)
(Do No~_S~ig~n~)~. ~~~
Mayor
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(Form of l n Le reat Coupon)
No.
$ ___ _
May,
On the 1st day of Noveaber, 19_, unless the Bond
to which this coupon is attached, if redee•able, has been · called
for prior redemption, the City of Inglewood, in the County of
Arapahoe and State of Colorado, will pay to the bearer hereof the
amount shown hereon, in lawful aoney of the United States of
America, at The First National Bank of Inglewood, in Englewood,
Colorado, solely out of the special funds referred to in the Bond
to which this coupon is attached, but not otherwise, being inter-
est then due on its Use Tax Revenue Bond, Series 1981A (Series
19818), dated September 1, 1981, bearing
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(Facsimile Signature)
(Do Not S~ig.n~>----......... ---
Director of Finance, ex~officio
City Clerk-Treasurer
. Section 4. Disposi t ion of Bond Proceeds • The bonds
,. shall be issued and sold for the p ur poae of constructing improve-
ments to the municipal golf course consisting of a new clubhouse,
and for constructing and installing improvements to the municipal
sanitary sewer system; n e ither the purchaaer of the bonds nor the
subsequent holder of any of them ahall be responsible for the
application or disposal by the City or any of its officers of the
funds derived from the sale thereof. The issuance of said bonds by
the City shall constitute a warranty by and on behalf of the City
for .. the benefit of each and every holder of said bonds, that said
bonds have been issued for a valuable consideration in full
conformity with law.
All or any portion of the bond proceeds may be tempor-
arily invested, or reinvested, pending such use, in securities or
obligations which are lawful investments for such municipalities
in the State of Colorado. It is hereby covenanted and agreed by
the City that the temporary investment or reinvestment of the bond
proceeds, or any portion thereof, shall be of such nature and
• extent, and for such period, that the bonds shal 1 not be or
become arbitrage bonds within the meaning of Section 103(c) of
the Internal Revenue Code of 1954,. as amended, and pertinent
regulations, and such proceeds, if so invested or reinvested,
shall be subject to the limitations and restrictions of said
Section 103(c), and pertinent regulations as the same now exists
or may later be amended.
Section S. Three Percent Municipal Use Tax. Section
13-4-14 of the Municipal Code provides for a use tax upon the
privilege of storing, using or consuming within the bondaries of
the City of Englewood, any articles of tangible personal property
purchased at retail from sources outside the corporate limits of
the City, as more particularly set forth and ~imited in the Code.
section 13-4-35 provides that the uae tax portion of the municipal
sales and use tax shall be deposited to a separate capital im-
provement account and used for capital improvement purposes. The
use taxes collected and deposited to the capital improvement
• account shall be placed in a sub-account within the capital
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improveme n t account, and kept :.:.1;:.,?a.r ate and apart from other funds
of the Ci ty and shall be identifiab le at all times.
S ection 6 . Pa y ment of Principal and Interest. The use
t ax e s impo sed and coll ~cted by the City and deposited to the
cap i ta l improvement account and sub-account (the "pledged reve-
nu es ") shall be used only in the following manner and order:
A. Bond Funds. There is hereby established the •city
of Englewood Use Tax Revenue Bond Fund Series 1981A• (the "1981A
Bond Fund") and the •city of Englewood U•e Tax Revenue Bond Fund
Ser i es 1981B• (the •19e1B Bond Fund•)1 the City covenants to
deposit, from the pledged revenue• concurrently into each fund,
the following amounts:
(i) Monthly, beginning on or before December 1, 1981,
and on or before the l•t day of each month there-
after, one-twelfth (1/12) of the principal amount
becoming due on the next principal payment date.
(ii) Monthly, beginning on or before December 1, 1981,
and on or before the l•t day of each month there-
after, one sixth (1/6) of the interest amount due
and payable on the next interest payment date.
(iii) If additional bonds are authorized and issued
at a later date, which are payable from the
pledged revenues, and which have a lien on such
revenues a nd the 1981A Bond Fund and 1981B Bond
Fund on a parity with the lien of the Series 1981A
Bonds and Series 1981B Bonds, then payments may be
made to the Bond and Interest Fund for such addi-
tional parity lien bonds concurrently with the
payments for the bonds authorized by this ordi-
nance.
B. Bond Reserve Fund. The City shall deposit, from
the p l edged revenues, the amounts required to be deposited to the
Reserve Fund, as more particularly described in the following
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•• Section. Payments shall be m ~de annually to the Reserve Fund in
the amount of $30, 000, on or before December 1, in each of the
years 1982 to 1986, inclusive, until the required total amount
has been deposited therein.
If additional parity 1 ien bonds are authorized and
issued, then deposits may be made to a reserve fund as additional
security for such bonds, concurrently with the payments to the
reserve fund for the Series 1981A Bonda and Series 1981 B Bonds.
(C) Other Purposes. After making the payments required
by subparagraph• (A) and (B) above, any remaining pledged revenues
from the municipal use tax shall be used for the payment of the
principal of and interest on any additional use tax revenue bonds
having a lien which is subordinate to the lien of the Series 1981A
Bonds and Series 1981B Bonds, and for a reserve fund as additional
security for the payment of such subordinate lien bonds, or for
the payment of any capital improvements of the City, as the City
Council may from time to time determine.
In the event that any other funds of the City may be
• lawfully available for the payment of principal and interest, the
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City may apply such funds for said purpose.
Sect ion 7. Reserve Fund. There is hereby created
the "City of Englewood Use Tax Revenue Bond Reserve Fund", (the
"Reserve Fund"), for the purpose, if necessary, of paying the
principal of and interest on each series of bonds authorized by
this ordinance. The Reserve Fund shall be a common fund for both
Series of bonds, and shall be established as follows:
(a) The Reserve Fund shall be established in the
total amount of $300,000, by the deposit of one-half of such
amount from the proceeds of the bonds at the time of the issuance
and delivery of the bonds1 $110,000 shall be deposited from the
proceeds of the Series 1981A Bonds and $40,000 from the Series
19818 Bonds. The remaining one-half of the Reserve Fund shall be
accumulated by the deposit annually of $30,000 on or before the
1st day of December in each of the years 1982 to 1986, inclusive,
until the required amount has been accumulated. The Reserve Fund
shall be maintained in the required total amount until such time
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• as the amount will be sufficient to pay all of the bonds which are
then outstanding, and the interest thereon, at which time such
~onies may be applied to redeem and pay the out•tanding bonds or
to pay the same at their normal maturity date. If money in the
Reserve Fund is used to prevent a default in the payment of the
principal of or interest on the bonds, then such amounts shall be
restored to the Reserve Fund as soon thereafter as possible.
Monies held in the Reserve Pund may be invested or
deposited as may be directed by the City Council and in accordance
with the Charter of the City and the laws of the State of Colorado
relating to the deposit or investment of such fund and monies.
The investment of the Reserve Fund amount shall, however, be
subject to the covenants and provisions of Section 4 hereof. The
amount of the earnings from such inveatment or deposits may be
applied toward the next payment required to be made to the Reserve
Fund.
Section 8. Covenants of the City. The City hereby
irrevocably covenants and agrees with each and every holder of the 1. bonds, that so long as any of said bonds remain outstanding:
(a) It will not amend or repeal Title 13, Chapter 4 of
the Municipal Code relating to the municipal sales and use tax
by decreasing the use tax rate of 3t, or in any way that would
adversely affect the amount of use tax revenues which would
otherwise be collected. However, nothing shall prevent the City
from amending or repealing Title 13, Chapter 4 in order to make
certain changes in the administration, collection or enforcement
of such use taxes, provided that such changes are advantageous to
the City and would not adversely affect the bondholders.
( b) It wi 11 administer, enforce and collect, or cause
to be administered, enforced and collected, the use tax authorized
by Title 13 of the Municipal Code, and •ball take such necessary
action to collect delinquent payment• a• ahall be authorized by
Title 13, and in accordance with law.
(c) It will keep such books and records showing the
proceeds of the three per cent municipal uae tax, in which com-
• plete entries shall be made in accordance with •tandard principles
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of accounting, and any owner o r holder of any of the bonds shall
have the right at all reasonable times to inspect the record s and
accounts relating to the collection and receipts of such use
tax.
It will, at least once each year, cause an audit of the
records relating to t he collection and receipts of the use tax
revenues, and upon r equest , make available the report of the
auditor or accountant, to any holder of such bonds, and shall
mail a copy of the report to the original purchaser of the bonds.
such audit may be made part of and included within the general
audit of the City, and made at the same time as the general
audit.
( d) That in the e vent the use taxes of the City are
replaced and superceded by a State collected-locally shared use
tax or taxes, or are re p l aced and auperceded in some other manner
from some other source or so urces, the revenues derived by the
City from said replacement s o urce or source s, as received by the
City shall be appropriated in the same manner as if the City had
levied and imposed a municipal use tax, and in accordance with
Title 13 of th e Code. From and after the date of said replace-
ment, the bonds herein authorized, and any then outstanding parity
lien bonds, shall have a first and prior lien, but not necessarily
an exclusive such lien, upon such replacement revenues to the
extent therein specified.
Section 9. Additional Bonda. No additional bonds shall
be issued payable from the pledged revenues and having a lien upon
such revenues which is prior or superior to the lien of the bonds
authorized herein.
However, nothing in t his Ordinance shall be construed in
such manner as to prevent the issuance by the City of additional
bonds payable from the p ledge d revenues and constituting a lien
upon said revenues equal t o or on a parity with the lien of
the bonds authorized herei n , provided the City is current in the
payment of principal an d interest and the accumulation of the
Reserve Fund s for the Series l981A Bonds and the Series 1981B
Bonds, and the pledged revenues collected or received by the City
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in the l a st preceding fiscal y .~r is sufficient to cover 1.35
times t he a v erage annual principa l and interest requirement s on
the outstanding Series 1981A Bonds and the Series 1981B Bonds, and
the proposed parity lien bonds: in addition, the estimated pledged
revenues to be collected or received in the fiscal year in which
the proposed parity lien bonds will be issued, shall be at least
equal to 1.50 times the average annual principal and interest
requirements of the Series 1981A Bonds and the Series 1981B Bonds
and the proposed parity lien bonds. The projected pledged reve-
nues shall be determined by an independent certified public
accountant, as designated by the City • In the event that the
percentage of the municipal use tax has been increased during the
preceding or current fiscal year, then the pledged revenues can be
determined by applying the new percentage to the amount of use
taxes actually collected during such prior fiscal year, for the
purpose of determinig compliance with the prior year coverage
requirement.
Nothing herein shall prevent the City from issuing bonds
payable from the pledged revenues and having a lien thereon which
is ~nior and subordinate to the lien of the bonds authorized
herein.
Section 10. Defeasance. When all principal, interest
and prior redemption premiums, if any, in connection with the
bonds hereby authorized have been duly paid, the pledge and lien
and all obligations hereunder shall thereby be discharged and the
bonds shall no longer be deemed to be outstanding within the
meaning of this ordinance. There shall be deemed to be such due
payment when the City has placed in escrow and in trust with a
commercial bank located within or without the State of Colorado,
and exercising trust powers, an amount sufficient (including the
known minimum yield from Federal Securities in which such amount
may be init ially invested) to meet all requirements of principal,
interest and prior redemption premium, if any, as the same become
due to their final maturities or upon designated prior redemption
dates. The Federal Securities shall become due at or prior to the
respective times on which the proceeds thereof shall be needed, in
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accordanc e with a schedule esta b lished and agreed upon between the
City and such bank at the time of the creation of the escrow, or
the Federal Securities shall be subject to redemption at the
option of the holders thereof to assure such availability as so
needed to meet such schedule. The term •Federal Securities•
within the meaning of this section shall include only direct
obligations of, or obligations the principal and interest of which
are unconditionally guaranteed by, the United States of America.
Section 11. Severability. That if any one or more
sections or parts of this Ordinance shall be adjudged unenforce-
able or invalid, such judgment shall not affect, impair or inval-
idate the remaining provisions of this Ordinance, it being the
intention that the various provisions hereof are severable.
Section 12. Repealer. All ordinances or parts thereof
in conflict with this Ordinance are hereby repealed.
Section 13. Ordinance Irrepealable. After the bonds
are issued, this Ordinance shall be and remain irrepealable until
said bonds and the interest thereon shall have been fully paid,
satisfied and disch~rged.
Section 14. Hearing. In accordance with Section
40 of the City Charter, the City Council shall hold a public
hearing on this Ordinance, before final passage, at 7:30 P.H. on
Monday, August 3, 1981.
Section 15. Publication and Effective Date. This
Ordinance after its final passage, shall be numbered and recorded,
and the adoption and publication shall be authenticated by the
signature of the Mayor and the Director of Finance, ex-officio
City Clerk-Treasurer, and by the Certificate of Publication. This
ordinance shall become effective thirty (JO) days after publication
following final passage.
Introduced, read in full, and paaaed on first reading on
the 20th day of July, 1981 •
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Published as a Bill for an Ordinance on the 22nd day of
July, 1981.
Read by title and passed on final reading on the 3rd day
of Au g ust, 1981.
Published by title as Ordinance No. 59 , Series of 1981,
on the 5th day of August, 1981. ~~
~.~Lt:~' lff&~_""_
Euqen~. -0-tis, Mayor
Attest:
~~!~ e~cTo-fy .crea&Urer
I, Gary R. Higbee, ex officio City Clerk-Treasurer of the
City of Englewood, Colorado, hereby certify that the above and
foregoing is a true, accurate and complete copy of the Ordinance
passed on final reading and published by title as Ordinance
No. 59 , Series of 1981.
(dG~!~
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