HomeMy WebLinkAbout1978 Ordinance No. 011. .
• •
•
•
•
, ..
•
. •
..
·1
'.,. I
INTRODUCED Al A llLL 8Y COUNCIL MENU• __ w_e_b_e_r_
BY AUTHORITY
ORDIRANCE NO. 11, SERIES OF 1978
AN ORDl•A•CE AUTHORIZING THE ISSUANCE or
SPECIAL ASSESSM!ft BONDS or THE CIT! or ENGLB-
WOOD, COLORADO, roa PAVING DISTRICT NO. 25, ro•
THE CONSTRUCTION AND INSTALLATION or STREET AIU)
ALLEY PAVI•G, CURB AND GUTTER AND SIDEWALK
IMPROVEMENTS, IN SAID DISTRICTJ PaESCRIIItlG 'l'8a
FORM or TIE IOllDSJ AND PROVIDING FOR TB& PAYlllllT or SAID -DI AllD TBE INTEREST THDECll.
lftlEREAI. for Uae purpoee of conat.ructing amt iut.alli119
•t.rHt and au-. pawing, curb and 9uttar and •idewalk illprowie-.
•nu, t09etber witb nece•nry incidentai. an oeruin •truu ... · ..
alleya, Paving Diatrict llo. 25 in the Citf of Englewood b.. beea
doly created bf Ordinance Wo. l Seri•• of 1171, of ••id Citf,
finally adopted and appro.ed on Rarch I, 11711 and
WHEUU, the City Council ha• deterained tbat tbe
coat of tbe conatruction and inaullation of tbe •t.r••t and alley
paving, curb and 9utter and •idewalk illpro..-nu, tol)etber witb
nece••ary incidental coau, wbic::b will be •••u•.. api•t tbe
property included witbin tbe diatrict, aball not eaceed tb• aJIOUDt
of f1'7 ,100, and that bonda of th• Cit~ for ••id Di•trict •bould
be ia•ued in tbie a110Unt1 and
WHEREAS, in accordance witb tbe City Cbarter ·~ a
reaolution paaaed on April f, 1971, th• City Council b .. ..t-
vertiaed for tb• aale of Special A••ea ... nt londa and aaid bonda
in tbe amount of $7'7,lOD bave been •arded to ltirc::bner, llDOre 6
COllpany, Denver, Colorado 1 and
VBEDAS, it 1a now neceaaary to prpvicl9 for tbe b•nenm
of aaid bond• and the fora and paJ119nt tbereofr
IE IT ORDAIWED u TB! CITY COUllCIJ. OP .,.. CIT!' or
llond Detail•. By virtue of and pur•uant to
th• Charter and the Law• of the Sute of Colorado, Special u.ese-
ment Bond• of the City of Englewood for Paving Diat.rict •o. 25
shall be issued for the purpoae of paying for local i111prOYW111tnt•
con9tructed in th• Di•trict. The bond• •ball be in th• principal
a ount of $767,100, shall be dated June 1, 1971, and aball
consist of 717 bond• in the denomination of $1,00D each, numbered
1 to 767, inclusive, except that Bond No. 1 •hall be in the
dena.iination of $1,100. The Bonde shall be payable to bearer, and
shall be due and payable on June 1, 1989, subject to call and
-46 -
.. ..
..
..
I
I
j
.~ \ ·· .. . :
'.
I . ".
... ,. .,
\. '· . ., .
,I
'' ' \
" .....
• , ... r i.
: "
.. : . ~
, • <( •1 -
I ' .
r . ;. .
; ' -.
.: • • '•j
: ,; ..... ......
·~;.;:·· .. · .... ~, .
, .. : ..
••
..
. • .
.·
•
. . .
. .
•
. '
..
;
;
I .
t
·-"""*•' ... _ .......
prior papent on any intereat payment date, in direct nuMrical
order, upon payMnt of par and accrued intereat. •otlce of auch
prior redeaption aball be publiabed in a newep.per of general
circulation in Englewood, Colorado, one ti .. at leaat 30 day•
prior to the date .of redemption. In addition, a copy of aucb
Wotice aball be .. ilad at the ti .. of publication to tbe original
purc:ballar of t.be Bonda.
'1'be Bonda aball Mar interut payable on .Jama 1, lt'7t,
and a-1-annually thereafter on June 1 and Decellbar 1, aacb year
according to intarut coupons deaignated •&• u followaa
•A• Coupon
Mount Bond •Ullbara Intareat .. te
'267,100 1 to 267, incl. 4.,0t
145,000 Ml to U2, incl. 4.IOt
95,000 UJ to 507, incl. 5.00t
75,000 50I to 512, incl. 5.lOt
75,000 513 to 657, incl. 5.20t
55,000 651 to 712, incl. 5.251
55,000 713 to 767, incl. S.301
In additicm to the •A• coupon int.areat rat•• ••t forth
aboft, all of uid bond8 Mar additional intar•t u evidenced by
uppl .. nt.al intere•t c:oupona designated •a•, for tbe period fraa
Jdy 1, 1'71 to the dat• indicated below, or to t.be payment date
of tbe bonda, vbicbever ia th• earlier date. Tb• •a• intereat
abal.l be payable oo the .... data u t:be •A• int.er••t coupona
duri ft9 aai4 period Of ti• 1
Tbe net effective interest rate of thi• iaaue of Bonde
i • 5.35tt per annua.
Tb• principal of and int.ereat on said bonda •ball be
payable at Tbe rint ••tional BanJt of Englewood, in Englewood,
Colorado.
-47 -
.. ..
·'.
1 . ·; ··•-:. • .. : ..
I .J. " ·t : .. !· • • .
f : . ... : '·' r·/ · .... · ...
.... ,.
·.1 ~ -•.·.;, ""!',,
' •• !
1·
•·';
'
' I
! '· ' .
. . ~ ... '-.:; , .
....
,
I
I ·· ..... \ .,
~ ·.
~
. ,. :·
j •' •
IT . I '::. . .. , .
. i .
\.·
!.
. ..,
I·" .,. .
!''
' ' I .
i ·
. ..
··'
\' ~ .. . ,·
. · .
..,.. ;_. :~.
. ..
·.·
• I • I •
':•I • ,. ..... ..
.. ' v
lection 2. Execution of Bonda and Intereat Coueona.
Th e Bonda •hall be aigned witb tbe facai•il• aignature of the
Na 1 or, atteated and counteraigned by the aanual aignature of
t he Di rector of Finance, ex-officio City Clerk-Treaaurer, with
a f acai•il• of tbe ••al of the City affixed thereto, and the
intere•t coupon• attached aball be aigned witb the facaiail•
a i gaature of tbe Director of Finance. When iaaued .. aforeaaid a•
part of aaid bonda, tbe intereat coupon• ahall be tbe binding
o blig ationa of tbe City a ccording to their i aport.
8bould anr officer wbo•• aanU&l or facaiaile aignature
appeara oa ••id boada or tbe coupona attached thereto maN to be
•IJCb officer before delivery of th• bond• to tbe purcbuer, aucb ,
aa n&l&l or facaiaile aignature •ball nevertbel••• be valid and
a u f f ieient for all purpoe••·
Section l. Pora of Bond and Intereat Coupon•. Tb•
bond• and the inten•t coupons to be attached thereto ahall be in
a ubetantially the following fora:
'
-48 -
( .. f" .· ..
I ,·· • .. : ' -·~
1.,.. ........... . I , .. ~· ..... ..,
..;.';.'
.. , .~ .r
\.~ .. w . .. .•.. ... . . . ......
'.,,_ ..
. ..
. ; "' .
•, .... :··A
.·._":. .. : ...
. : . ...,..__., ...
• 1 •• _..,,..,,, ,.
I .• .... f,
' I.:·
I i .
i
. '· . . ~ :
..... · ..
·•
. .
,.
. .
•
• , ' 'Jr '• ~·v .. •'I ,·~'' ~' ,. ... . . ,. . ... . . -......... ~..:." .• I.,~ · • . );; :. ~ ' . ' :
• ' . ··I..!'• 'lo">·· ··~.c·
. ,.
. . -. r . .. . . • . '• ..... , .. ~,, ~ ..• ~" .:
(Poni of Bond)
UllITED STATES or AMERICA
STATE or COLORADO couirn or AltAPAIOS
llO.
CITY or EllGLlllOOD
PAVING DISTRICT llO. 25
SPECIAL ASSESSMEllT 80ND
Sl ,100 u ,ooo
The City of Inglewood, in the County of Arapahoe,
State of Color.cto, for value received, hereby proeiaea to pay to
tbe bearer bereof, out of the special fund hereinafter deaignat .. ,
but not otherwiae, tbe principal aim of
OllB THOUSAND ONE BDllDRED DOLL&U
Olll THOUSAllD DOI.LUI
in lawful aoney of tbe United State• of America, on the lat day
of June, 1919, with intereat thereon at the rate of -------
per centua ( •) per annm
•• nidenced bf intereat coupou designated •&• frcm date until
pe,_nt, ,.yabl• oa .June 1, lt7t and •••i-annually thereafter on
Jane 1 and Deceaber 1 eacb year, and additional intereat ••
ewidenced by auppleaental intereat coupon• deaignated •a•, at
tb• rate of per ceatua
____ ,, per annum for tbe period fraa ------1, 1971
to 1, 197_, or to the payaent date of thi• Bond,
wime.er i• the earlier date, and payable on the ... dat•• u
the •&• lntereat coupon• during aaid period of time. aotb prin-
cipal and intereat are payable at The Pirat ••tional Bank of
Bn9l..ood, in Inglewood, Colorado, upon preaentation and aurrender
of th• attached coupons and thia 9on4 u they Hverally became due ·
or are called for pa,..nt •
Tb is Bond .ia aubject to call and redellption in direct
numerical order of the issue of vbicb it ia one, on any intere•t
payaent date, upon payaent of par and accrued intereat to the
date of redeaption. •otic• of aucb prior redeaption •hall be
published in a newspaper of general circulation in the City,
on ti at least thirty (30) days prior to the date of redem~
tion.
Thia Bond is iuued for the purpoH of paying part of
th coat~ of constructing and installing street and alley paving,
curb and gutter and sidewalk impr ovements, together with necessary
incidental• in Paving District No. 25, in the City of Englewood,
Colorado, by virtue of and in full conformity wit~ the Constitu-
tion and Laws of the State of Colorado, the Charter of the City,
and an Ordinance of the City duly adopted, approved, published and
made a law of said City prior to the issuance hereof •
-49 -
.,,.":;,:f ... t ., ..
I .,.:1 ·· 1~,t~,:·,· r-: .. ~·.it .. ~~~~·
• I ~~ ;,. '~_,! .. ~:. ·.~·
·. ·-·· .~·· . . • ;-. .W'Ot. ......... ...... ·.: ...
' 1•;. • .•
I f•, -·• ;
... , .....
• • • ''~r
' .:. '
, ... : r • "
' ~·
\. ,·
. '\
I .
I .
,.
I
·'···'
: ,.
·.*',I •'
·'
' i .,
•.
•
'
•
•
.... . .·
Pay••nt of thi• Bond and the intereat thereon ahall
be ma de fr011, and aa aecurity for aucb payment there ia pledged,
a apeci al fund deaignated aa the •pavi"9 Diatrict Ro. 25 Bond
and Intereat rund•, wbicb Pund •hall contain initially any •oni••
in the conatruction account remaining after the coat of improve-
•enta ha• been paid in full and thereafter to contain the proceeda
frOll apechl aaaea .. nta to be levied avainat tbe property in-
cluded vithin the Diatrict and apecially benefited by the con-
atruction and. inatallation of iaprove•enta therein. 'l'be aaaeaa-
••nta to be levied will conatitute a lien on and ·egainat ••cb lot
or tract of land in the reapective A110unta to be apportioned by an
ordinance of the City.
In addition, tbe ordinance autboriainv tbe iaauanoe of
bond• of thia iaaue provide• tbat in accordance vitb tbe City
Charter, vbenever four-fiftha (4/5) of tbe bond• of tbia i•••
ban bHD peid and cancelled, and for any reaaon tbe reuining .
a•H•-nt• are not peid ill tm to tau up tb• r•ainlng bolada
and the intereat thereon, tben the City •hall pay ••id bond• wben
due and tb• intereat due thereon and reiaburae itaelf by col-
lectinv tbe unpeid aaa ..... nta due the Diatrict.
'l'bi• Bond do•• not conatitute a debt of the City of
Englewood within tbe •••nin9 of any conatitutional, atatutory
or charter liaitatiOQ or proviaion, and •ball not be conaidered
or beld to be a general obligation of the City.
It i• hereby certified and recited tbat all requir ... nta
of lav bave been f111lr eo11plied vitb by tb• proper offlcera of tbe
City in tbe iaauance of tbia 9ond, and that tbe total UIOUnt of
tbia laaue doea not eaceed the coat and eapenae of aaid iaprOft-
.. nta or any li•itation preacribed by law.
ror the payaent of tbi• Bond and the intereat ·thereon
tbe City pledge• all of ita lavful corporate powera.
IW TESTI~ llllDSOP, Tb• Citl' of Bnglewood b-cauaed
tbia lond to be aigned vitb tbe facaiaile aignature of the llayor,
atteated and counteraigned by the .. nual aignature of th• Director
of Finance, ea-officio Citf Clerk-Treaaurer, with a facaiaile of
the aeal of tbe City affiaed hereto, and tbe intereat coupon•
attached hereto to be aigned vi tb the facaiaile aiguture of the
Director of Finance, ea-officio City Clerk-Treaaurer, as of the
lat day of June, 1971.
( PACSIIULI)
( S ! A L )
ATTESTED AND COUNTERSIGN!lh
1Kanual Signature)
D rector of Finance
ex-officio City Clerk-Tr•••urer
CITY OF ENGLEWOOD, COLORADO
By~~_,_<P_a_c_a_i_m_i_1_e"-"s_i~9_n~•~t-ur_•_.._>~~
Mayor
-so -
l
I '
' .
' r .
I
I
L
i
i. ...
i '
I . . "
\
~
I ...
I ·
I
!
!'!:'"':
' ' '
I
.. . ,.
!:
·' '
;,
J
• ..
•
••
. .,.
.. • • J ,.,.. ' I • ' ..............
(Pora of Intereat Coupon.)
No. ·----
June,
On the lat day of Decetlber, 11_, unlH• the lond to
whicb tbi8 coupon ia attached hH been called for prior rede11p-
tion, the City of ln9lewood, in the County of Arapahoe and ltate
of Colorado, will pay to bearer tbe a110amt ahown hereon in law-
f ul •oney of the United State• of America, aolely out of tbe
apecial fund referred to in tbe Bond to vbicb tbi• coupon ta
attacbed, at Tbe Pint Mational ... of Bnglevood, in Inglewood,
Colorado, being intereat then d11e on ita Special A•••••••n~
Bond for Paving Diatrict wo. 25, dated June 1, 1171, bear1111 ·
Mo.
(Pac•i•il• li,nat11re)
Director ot lnance
••-officio City Clerk-Treaaurer
..
-51 -
. I
\ I
I
. _ ... ~ .
• t ....
:· ~I • •
I
fi :> :-.. ··
I •• .\~:
1 .!"~'"'~.
I . (. i"... •
I .
i
.I
I :
I
i: ..
:·
·.' . I ; , ... ·
I :
I
·.
,
·~
•
•
.
\
I
' ..
Section 4. Dhpoaition of Bond froceeda. Th• proceeda
of said bonds shall be applied only to pay the coat• and expenaea
of constructing •nil install int iaprcwe•nta in add Diatrict and
all other coat• and expenaea incident thereto. ln the event that
•11 of the proceed• of Hid bonda are not required to pay aucb
coat• and expenaH, any reaaining uiount •hall be paid into the
apecial HHa ... nt fund for the purpoH of calling in an4 payiftl
the principal of and intereat on aaid bonda. •either the pur-
cb•••r• of ••id bond• nor any subsequent bolder of the .... •ball
be reaponaible for tbe application of tbe proceeda of aaJd bonda
by tbe City or any of it• off icera.
All or any portion of tbe bond proceed• .. , IM
teaporarily inveated or reinveated, pending a11cb uae, in Hauri-
ti•• or obligation• wbicb are lavflll inveatllent• for a11ab .. niai-
palitiH in the atat• of Coloredo. lt i• ber•bf covenanted ......
agreed by tbe City tbat tbe tnporary inft•tllent or ninft•tmnt
or the bond proce ... , or any port ion thereof, •ball be of •UOla
nat11re and ••tent, and for a11cb period, that tbe bond• of tbe Cit7
•hall not beco.e •arbitrege botMb• within the Manint of lectloa
lOJ(c) of the Internal bvenue Code, and pertinent regulation•,
and eucb proeeeda, if 80 inHated or reinveated, •ball be allbject
to tb• li•itati0ft9 and reatrictione of .. id Section 103(c), .. t9'e
.... now ••i•t• or aay later be aaeaded, and •ball fartber IM
aubject to anf applicable r9911lation• of tbe Internal aeveaae
Section 5. Pavift9 J>iatrict llD. 25 90nd an4 lntereat
Pund. 'l'be bond• and tbe intere•t thereon •ball be parable
aolelf from tb• local illprov-nt fund, dedgnated u the •pav.int
Diatrict •o. 25 Bond and lntereat rund•,. wtaicb •ball contain
initially any •oni•• ia tbe conatructioa accoant reaainin1
after th• coat of improveMnt• bu been paid in f11ll and there-
after to contain the proceed• frOll apecial a•••••••nta to be
levied againet tbe propertf within the Diatrict and apeoiallf
beMfited ~ the conatruction of iaprOftllenta therein.
When tb•r• i• on band a aafficient aaoant to
pay •ix imnth•' intereat on outatanding bond• for the Diatrict,
the City aball call f~ payment, on the neat intereat P•Jll•nt
date, oatatanding bond• in direct nu•erical order with fund•
available therefor. llDtice of call and redeaptioa ahall be given
bf adftrtiaement one tiM in a new1paper having general c ircula-
t i on in the City, at leaat thirty (JO) day• prior to the date
of redeaption. 'l'he notice •hall apecify by nuaber the bond•
called, and all auch bond• ahall be paid in their direct numerical
order. The holder of any auch bond• may at any ti .. furnish his ..
or h er post off ice addr••• to the Director of Finance, and in such
case a copy of the advertiaement shall be mailed to the bond-
holder, at such addr•••• on or about the day of such publication •
-52 -
I . :
!".
;.·. r .:.: .· ,,
~ :1 I .
: ~' : . . ' .
I -
L .... "~: .. :~«. ·-' . i ', . ' I ', ·. • ,. . . .
. ' . .. · ....
. , ...
I p •4
' I .
I
I
I
I
1•
,-
' l; . '. -.:-.\•
.. ··-
I ., ~ ..
. : . , ..
;
··:.·.
I ·, .,• '. i !: •:: ...
I • . \
\
I • 1: . ; ...... .
I .
t
f .
I
... -:.._: ... . :
..
··•' ...
> -
.... ·
......
•..:. ....
..
•
•
\
•
.,,: ........
' ..
After the expiration of the period for caab pay-
menta of asaessaents in full, the City shall, to the extent
po•aible, pay each year not lesa than 101 of the total maount of
bonda outstanding after the pa)'llent of the bond• witb the procee4a
of auch ca•b payment• of a••••• .. nta in full.
Section 6. Additional Security for the Payaent of
Principal and Interest. In addition, in accordance witb tbe
City Charter, whenever four-fifth• (4/5) of the bonda of .tbia
iHue have been paid and cancelled, and for any reaaon tbe re-
aainint aHn ... nta are not paid in tiM to take up tb• r ... inint
bonda and tbe intereat thereon, then the City •hall pay ••id bonda
when due and tbe intereat due thereon and reiaburae itaelf bf.
collecting tbe unpaid aaaeas .. nta due the diatrict. • ..
lection 7. A•••••••nt of Coata. Tb• City Council
cownanta that upon C011Pl•tion of the local improve•nta, or upon
completion frae u .. to ti• of any part thereof, and upon ac-
ceptance thereof by the Council, or whenever the total coat can be
definitely aacertained, it will cauae a atate .. nt abowing the
total coat of the i11prove•nta to be prepared and filed in the
off ice of the Director of Finance. Tb• City Council •hall further
cauae a•••••••nta to be levied againat th• property includ ..
within the apecial impr09'8•nt diatrict and apecially benefited bf
the conatruction and installation of aucb iaproveaenta, in ac-
cordance with law and th• Charter of the City.
Section I. Severabilitx. That if any one or ~ore
aectiona or parta of thia Ordinance aball be adjudged unenforce-
able or inwalid, auch judgaent ahall not affect, impair or in-
validate the reaaining proviaiona of ·thia Ordinance, it being tbe
intention that the varioiia proviaiona hereof are aeverable.
Section t. Repealer. All Ordinance• or parta thereof
in conflict with tbia Ordinance are hereby repealed.
Section 10. Ordinance Irreeealable. After a aid bonda
are iaaued, thia Or~inanc• aball be and re .. in irrepealable
until Hid bond• and th• intereat thereon ahall have been fully
p aid, satiafied and diacbarged.
Section 11. Publication and Effective Date. Thia
Ordinance after ita final paaaage, ahall be nuabered and recorded,
and the adoption and publication ahall be authenticated by the
-53 -
I
.\
I ~ .. I:-
1
I ·
: \·· . \
. ~ ·. \
f .. '~
' .... . · ... \ .
, ... , ..
. ' i
I •
.. ,\
. ,
•
. •
•
•
•
,r
' .
·••' ··-·-... -.. -... ·~wi.~~r . . . . . . •. . "
\I • I ' ... , .... • .••
·~ .. ' :". ; .. ~~;~,·
. . . .. • .... . .~'TJ.i •• . ..:· · .. ,.,. ~~ .....
. . . ... ~
. : . . ·~: -~~~::t:: ."
. •', ... ~~t; •.
signature of th• Mayor ana th• Director of Finance, ex-officio . ., '. . ··!·~ .. \:".;
CI ty Clerk-Treaourer, and by th• Certificate of Publication. Thia . . . . ,:;_::-. !/
:::~n;:;~.::::1u':7:" .. :::::ti•• thirty (301 dayo ofter publio... ·. ··.: {>Y.
1NT>00uc£D uo READ ·~y· ~ f;;i;L
( S E A I. /~ l · .. May~ I·· ..
j· "··.··::.'· . ATTES'l'a
~=--
lt71.
•rx•ALL1' PAISID AND ADOP'l'SD 'l'bia 5tb day of June, ..
( I S A L )
ATTIS'l'a
•(ft• follow int to be oaitted fraa publication following Urat
readiDI aad to be inaerted in th• publication following final
P••at••)
-s• -
I ',• .• '
"' ...
I '.
If ·l t~.-.-
L). . i .. ~
1 • ~ i .. '
!
I I .. .
. , ...... .
I . v .....
I .