HomeMy WebLinkAbout1970 Ordinance No. 017I
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Introduced •• a Bill by Councilman Dhority.
BY AU'ftlORift'
ORDillAllCB BO. 17, SDIBS OP 1970
All ORDillAllCB AO'tBORIZIBG '1'BB ISSUAllCB OP CI'l'Y OP BRGLBllOOD, COLORADO, PAVDIG
DISTRICT ao. 19 BOBDSr PRBSCRIBIBG '1'llB PORll OP SAID BOBDS, AllD PROVIDIRG FOR THE PAYMBRT
OP 8Am 80llD8 AllD '!'BB D'l'BRBST TBBUOB.
WH•MBAS, Paving Diatrict llo. 19, in the City of Bnglewood, Colorado, has
been duly cr-ted by Ordinance Ro. 8, Serie• 1970, of aaid City, finally adopted and
approved on the 16th day of March, 1970r and
1111BRBAS, Rotice to contractor• to aubmit bid• for the construction of the
illprov•ent• in aaid Di•trict ha• been duly publiahed and the contract for such con-
•t~ion ha• been warded to Aaphalt Paving cc.pany, of Golden, Colorado: and
11BBRBAS, Rotice of the •ale of $372,000 of bond• for aaid District has been
duly publiahed and •uch bond• have been awarded to Kirchner, Moore and Company and
Banifen, Illhoff and Saaford of Denver, colorador and
1fllBRBAS, it i• now neceaaary to provide for the iaauance of aaid bonds and
th• fona and payment thereof r
BB I'l' ORMDIBD BY '1'BB Cift' COUllCU. OP '1'118 CI'l'Y OP mGLBllCOD, COLORAD01
Section 1. By virtue of and purauant to the Lava of the State of Colorado,
the Charter and Chapter 14 of th• lluniclpal COde of the city, bond• in the principal
1111Dant of $372,000 for PaviDf Diatrict llo. 19 in •aid city ahall be iaaued for the
purpo8e of paying for local illpro....nt• to be oonatruated in ·aaid Paving District.
Bonda •hall be dated u of June 1, 1970, and •hall oon•i•t of 372 bond• in the
dencmination of ,1,000 -ch, nmlbered 1 to 372, inaluive. Said bond• shall be payable
to bearer and •hall be due and payable on Jane 1, 1981, •abject to call and prior
payment in direct ntmerical order on any intereat pa,..nt date, upon thirty (30)
daya• pabli•hed notice, upon pa)'ll8nt of par and .acruect intereat. Rotice of call and
payment •hall be publiahed in a n..,.paper of 9eneral circulation in the City one time
at 1-t thirty (30) daya prior to the date of red.-ption, and a copy of such &otice
•hall be mailed to the ori9inal purchaaer of the bond•, at the time of such publi-
cation.
Section 2. Said bond• shall bear intere•t aa evidenced by "A" coupons attached
to aaid bond•, payable on June 1, 1971, and a.U.-annually thereafter on June 1 and
Dec '•r 1, each year, -followa1
Bond ...., •• Allount "A"
lnter••t Rate
1 to 130, incl. .130,000 5.25"
131 to 185, incl. 55,000 5.5°"
186 to 234, incl. 49,000 5.75"
235 to 271, incl. ' 37,000 6.0°"
272 to 300, incl. 29,000 6.1°"
301 to 325, incl. 25,000 6.15"
326 to 350, incl. 25,000 6.2°"
351 to 372, incl. 22,000 6.25"
In addition to the •A• intereat rate ••t forth above, said bonds shall
bear a&Utional intereat u evidenced by auppl-.atal coupon• designated "B" payable
on .nine 1, 1971, at the rate and for th• period fzaa July 1, 1970 to the dates indicated
below, a• followa 1
Band 11\mber•
1 to 372, incl.
•••
Int•r••t aate
l.""
"B"
Intereat To
Jun• 1, 1971
'lb• principal of and interest on said bond• •hall be payable at the First
•ational Ban1c of Bnglewood, in Bnglewood, colorado.
Said bond• •hall be signed with a faaaillil• .signature of the Mayor, sealed
with a facaillile of the Hal of said City, atteated and counteraigned with the manual
•i91Ulture of the Director of Pinance, ex-officio city Clerk, and the interest coupons
attached thereto ahall be signed with a facaillile •ignature of the Director of Finance.
11ben i••aed u aforeaaid -part of •aid bonds, the interest coupon• shall be the
bindina obli9ation of the city according to their imDOrt.
Should any officer who•• llUlual or f acaillile aignature appears on said bonds
or th• intereat coapona attached thereto cea .. to be such officer before delivery
of the bond• to the purahaaer, •uch llUlual or faaaillile •ignature shall nevertheless
be valid and aufficient for all purpo•••·
Section 3. 'fh• bond• and intereat coupon• to be attached thereto shall be
in •ab•tantially th• following fora1
ftA'l'B OP COLORADO
llo.
--! (Pom of Bond)
UllI'l'BD S'l'A'l'BS OP AllBRICA
Cift' OP mGLINQQD
PAVDIG DIS'l'RIC'l' RO. 19
80llD
COUNTY OF ARAPAHOE
$1,000
'file City of Bnglewood, in the county of Arapahoe and State of Colorado, for
value received, hereby prmi••• to pay to the bearer hereof, out of the special fund
or fund• hereinafter deaignated but not otherwiae, the principal sum of
OID t'llOUSAllD DOLLUS
in lawful money of .th• unit•• State• of America, on the lat day of June, 1981, with
inter .. t thereon u evidenced by interest coupon• designated "A" at the rate of
per centma ( ") per annma from date until payment, payable on
~J~an--.--1-, ..... 1•9 ... 71, and •9111-annualiy thereafter on the lat day of June and the lat day of
Decssnher, each year, and additional interest •• evidenced by interest coupons designated
• •• at the rate of per centwa ( ") per annum for the period from
1, 19 , to 1, 19 , inclualve, payable on ,
·i;o-tii--p-r_l_nc_l_pal and1ntereat being payableat the Pirat Rational Bank of Enqlewood,
in Bnglnood, colorado, upon presentation and aurrender of the attached coupons
and this Bond •• they severally become due or are called for payment. ·
!'Ilia Bond i• subject to call and red...,tion in regular numerical order of
tb• iaaae of which it i• one, on any intereat payment date, upon payment of par and
accrued interest, on thirty days notice published in a nMf8paper of general circulation
in th• city of Bnglnood, colorado.
'!bi• Bond i• i••ued for the purpo•• of payiDCJ the coats of street and alley
illprov .. enta in Paving District Ro. 19, in the City of Bngl.wood, Colorado, by virtue
of and in full confomity with the constitution and Law• of the State of Colorado,
th• ebarter of said City, Chapter 14 of the llanicipal COde, and an Ordinance of the
City duly adopted, approved, published and made a law of said City prior to the
i•auanc• hereof.
'!bi• Bond and the interest thereon are payable solely out of the proceeds of
..-oial •••--.nta to be levied upon real estate situated in the City of Bnqlewood,
COlorado, in Paving District Ro. 19, specially benefited by said improvements, which
uw••nta 80 to be levied, with accrued interest, will be liens on •aid real estate
in the respective 11mOant• to be apportioned thereto and ••••••ed by an ordinance of
said City, and, if neceaaary, from the Surplu• and Deficiency Fund heretofore created
parauant to the Charter of said city.
'!be Charter of said City provide•• "1fhenever a public improvement district
ha• paid and cancelled four-fifth• of it• bond• oatatanding, and for any reason the
r .. at.n1ng aa•--nta are not paid in time to take up the final bonds of the District
and interest due thereon, and there i• not aufficient money in aaid special surplus
and deficiency fund, then the City shall pay said bond• when due and interest due
thereon and reimbar•• itself by collecting the unpaid •••••-nt• due said district."
It i• hereby certified and recited that the total iaaue of bonds of the City
for said Di•trict, including this Bond, doe• not exceed the amount authorized by lawr
that every requir .. ant of law relating to the creation of said Paving District Bo. 19,
th• conatruction of said local illprov-nt• and th• i••uance of this Bond has been
fully omplied with by the proper officer• of •aid City, and that all conditions required
to .ad.at and thiDCJ• required to be done precedent to and in the issuance of this Bond
to rmder the •-lawful and valid, have happened, been properly done and performed,
and did exist in regular and due time, tom and unner, ·aa required by law.
Por the payment of this Bond and the interest thereon, the City pledges all
of it• lawful corporate powers.
D n&'l'Dmmr •BP.BOP, the City of Bnglnood ha• caused this Bond to be aiqned
with a facaillile aignature of it• llayor, atteated and countersigned by the manual
aignatare of the Director of Pinance, aealed with a facaiaile of the corporate seal
of said City, and the interest coupon• hereto attached to be signed with a facsimile
signature of the Director of Pinance, a• of the lat day of June, 1970.
(PACSDIILB)
(SBAL)
Ai IB8'1'BD AllD comrtBRSIGBBlh
(Do not aian)
DDllCIOR or PDQCB
llO. A ---
llO. B ---
(Pac•illile Sianature)
MAYOR
(Pora of coupon)
$ __ _
$ __ _
June,
On the lat day of Decellber, 19 __ , the City of Bnglewood, in the county of
Arapahoe and State of COlorado, will pay to th• bearer the amount shown hereon in
lawful money of the united State• of Aaerica, at the Pir•t Rational Bank of Englewood,
in Bnglnood, COlorado, being interest then due on it• local improvement bond issued
for the construction of local iJDprov ... nta in Paving District Bo. 19, Bnglewood,
COlorado, provided the Bond to which this coupon iii attached shall not have been
theretofore called for payment or paid. Attached to Bond dated June 1, 1970, bearing
llO. (Paaillile Sicmature)
DIJtBC!OR OP PIDllCB I
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Section 4. 'fhe proceed• of •aid bond• •hall be applied only to pay the coats
and expen••• of conatructin9 the ilaprov....nt• in •aid Di•trict and all other coats and
ex:pena.. incident thereto. In the event that all of the proceeds of said bonds are
not required to pay auch coat• and expenaea, any r ... ining amount shall be paid into
the apecial a•••• ... nt fund for the purpoae of calling in and paying the principal of
and intereat on Aid bond•.
Section 5. Said bond• and the intereat thereon •hall be paid solely from
apecial aa••• ... nt• to be levied on the real pzioperty in aai4 District, from the
Sarplua and Deficiency Pund of ••id City and f~ any oth•~ available funds of the
City. 1'hen there i• on hand a •ufficient 1mOunt to pay aix months interest on out-
atancling bond• of aaid Diatrict, the City •hall call for payment, on the next interest
payment date, outatanding bonda in nmaerical order with fund• available therefor.
Section 6. After the expiration of the period for caah payments of assess-
ment• in full, the City •hall, to the extmt po88ible, pay each year not leas than 107'
of the total llllOUDt of bond• of •aid Di•trict which r ... in outatanding.
Section 7. 'fhat in accordance with Section 108 of the Charter of said City,
whenever there i• a deficiency in the fund of aaid IJlprov ... nt District to meet payment
of outatanding bond• and intereat thereon, •uch deficlency •hall be paid out of the
apecial Surplua and Deficiency Pund of aaid City. 1'henever the Di•trict has paid and
cancelled four-f iftha of the bond• i••ued therefor and for any reason the reamining
aa-•---t• are not paid in time to take up the final bond• of the Di•trict and interest
due thereon, and there ia not aufficient 110ney in aaid Surplu• and Deficiency Pund,
then the City ahall pay aaid bond• when due and intereat thereon and reimburae _itaelf
by collecting th• unpaid •••e• ... nt• due •aid Di•trict.
Section 8. If it •hall be neceaaary to advance money to maintain current
payment• of intere•t and equal annual payment• of the principal amount of the bonds
iuaed for Aid Diatrict, the City council •hall levy annual taxes on the taxable
property within the City not exceedin9 two ld.11• in any one year and shall apply the
proceed• of auch tax•• for aaid purpoae. In l~• of •uch tax levies, the council
-y annually tranafer to •uch apecial fund any available .:mey of the city, but in
no event •hall th• IUIOUDt tranaferred in any one year exceed the amount which would
reaalt from a tax levied in auch year aa h•r•i._ liaited. Such tax· levies or transfers
of funda •hall be made in acaordance with and purauant to Section 109 of the Charter
of aaid City. .
Section 9. Should any part or proviaion of the Charter of the City of Englewood,
colorado, or thi• Ordinance, or any part or proviaion of an ordinance or the charter
of any other City in the State of colorado havi09 eubatantially •imilar terms and
pEOviaiona •• tho•• contained in the Bnglft!OOd Charter or thi• Ordinance, ever be
judicially detenained to be invalid or unenforceable, •uch detezmination shall not
affect the ~ining part• and proviaion• of the Bnglewood Charter or this Ordinance,
the intention being ,that each part and p&'Oviaion of the Charter and this Ordinance
ia aeverable.
All ordinance• or part• thereof in conflict with this Ordinance are hereby
repealed.
Section 10. 41hi• Ordinance, after it• final paaaage, •hall be recorded in
a book kept for that parpo••r aball be authenticated by the aignaturea of the Mayor and
Director of Pinanaer and be publiahed •• provided in the Charter of the City1 and
after beccming effective, •hall be irrepealable until the bond• of said District shall
be paid in full • •
Section 11. A public Bearing on thi• Ordinance will be held in the council
Jtom of the City Ball on Monday, the 18th day of .. y, 1970, at the hour of 8:00 o'clock
••••
Section 12. 'fhi• Ordinance •hall take effect thirty days after publication
following final pa••&CJ••
DtilG>UCBD AllD RBAD 'fhi• 4th day of May, 1970.
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PIDLLY ADOPl'BD AllD APPROVBD 'fhi• 18th day of May, 1970.
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