HomeMy WebLinkAbout1969 Ordinance No. 020'
Introduced a• a Bill by Councilman Dhority.
ORDillAllCB BO. 20, SDIBS OP 1969
All ORDDINICB AU'ftlORIZDIG '1'BB ISSUAllCB OP CITY OP .BITGLBtlOOD,
COLORADO, PAVDIG DiftRICT BO. 18 BCJBD8, PRBSCRIBillG '1'BB FORM OF
SAID BCllDS, AD PROVD>IllG POR '1'llB PAYm'l' OP SAID BOllDS Al1D '1'BB
Dft'DB8T '1'lllDmJB. .
1111BRBAS, Paving Di•trict Bo. 18, in the City of Englewood,
Colorado, ha• b .. n duly crea~ed by Ordinance Bo. 17, Series 1969,
of •aid City, finally adopted and approved on the 2l•t day of
April, 19691
1111BRBAS, Botice to Contractor• to •ubmit bid• for the
con•truction of the iapr0¥1•an~• in •aid.Di•trict ha• been duly
publi8hed and the contract for •uch con•truction ha• been awarded
to Peter Ki.wit Son'• CC.pany, of Denvarr .and
1111BRBAS, llotice of the •al• of $245,000 of bonds for
•aid Di•trict ha• been duly publi•hed' and •uch bond• have been
awarded to w. B. Button & Ccapany, of Denver, Colorado: and
11BBRBAS, it i• now nece••ary to provide for the issuance
of •aid bond• and th• form and payment thereof: .
BB IT ORDADIBD BY THI CITY COUBCIL OP 'l'BB CITY OF BNGLBWOOD,
COLORAD01
Section 1. By virtue of and purauant to the Laws of the
State of Colorado, the Charter and Ordinance Bo. 14, Series 1965,
•• -•nded, of •aid City, bond• in the principal amount of $245,000
for Pavin«J Di•trict llo. 18 in •aid City •hall be i••ued for the
purpo•• of paying for local iaprov ... nt• to be con•tructed in said
Paving Di•trict. Bond• •hall be dated a• of June 1, 1969, and
8hall con•i•t of 245 bond• in the denanination of $1,000 each,
nUllberad 1 to 245, inclu•ive. Said bond• •hall be payable to
bearer and •hall be due and payable on June 1, 1980, •ubject to
call and prior payment in direct numerical order on any interest
payment date, upon thirty (30) day•' publi•hed notice, upon pay-
.. nt of par and accrued intere•t. Botica of call and payment
•hall be publi8had in a n.w•paper of general circulation in the
City and a copy of .uch Botice •hall be .. iled to the original
purcha••r of the bond•, at the tille of •uch publication.
Section 2. Said bond• •hall bear intere•t as evidenced
by •A• coupon• attached to •aid bond•, payable on June 1, 1970,
and •.U.-annually thereafter on June 1 and December 1, each year,
a• follOW81
Bond lfumber• Amount "A"
Intere•t Rate
1 to 98, incl. $98,000 4.40 " 99 to 137, incl. 39,000 4.50"
138 to 166, incl. 29,000 4.60 " 167 to 191, incl. 25,000 4.70"
192 to 211, incl. 20,000 4.75"
212 to 223, incl. 12,000 4.80 " 224 to 235, incl. 12,000 4 7/8"
236 to 245, incl. 10,000 4.90 "
In addition to the •A• int•r••t rate •et forth above,
all of •aid bond• •hall bear additional intere•t a• evidenced by
•uppl ... ntal coupon• d••ignated "B" payable on June 1, 1970, at
the rate and for the period frcm July l, 1969 to the dates indi-
cated below, •• follow•a
89nd 11\mber•
1 through 98, incl.
99 through 137, incl.
138 throagh 166, incl.
"B"
Intere•t Rate
2.6°"
2.5°"
1.0°"
"B"
Intere•t To
June 1, 1970
June 1, 1970
June 1, 1970
'l'he principal of and intereat on aaid bond• •hall be
payable at the Pir•t Rational Bank of Bnglewood, in Englewood,
Colorado.
Said bond• •hall be •ignad with a fac•imile signature
of the llayor, •••lad with a fac•iail• of the Seal of said City,
atteatad and count•r•igned with th• .. nual •ignature of the
Director of Pinance, ex-officio City Clerk, and the interest
coupon• attached thereto •hall be •igned with a facsimile signature
of the Director of Pinance. I
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Should any officer who••, manual or fac•imile aiqnature
appear• on •aid bond• or the intere•t coupon• attached thereto
c•••• to be 8uch officer before delivery of the bonds to the
purcha•er, •uch manual or fac•imile •ignature •hall nevertheless
be valid and •ufficient for all purpo•e•.
Section 3. 'l'he bond• and intere•t coupons to be attached
thereto •hall be in •ub•tantially th• following form:
S'l'A'l'B OP COLORADO
llo.
(Pora of Bond)
UllrrBD S'l'A'l'BS OP AllBRICA
CITY OP BllGLBllOOD
PAVDG DIS'l'RIC'l' lfO. 18
BOlll>
~
COUll'l'Y OF ARAPAHOE
$1,000
'l'h• City of B119lwood, in th• county of Arapahoe and
State of Colorado, for value received, acknowledge• itself in-
debted and hereby praad•e• to pay to the bearer hereof, out of
th• •pecial fund or fund• hereinafter de•ignated but not other-
wi••, the principal •um of
OD 'l'llOUSAllD DOLLARS
in lawful 110ney of the United State• of America, on the 1st day
of June, 1980, with intere•t thereon •• evidenced by interest
coupon• de•iCJllated •A• at the rate of-----------
per centma ( ") per annum frOID date until payment, payable
on June 1, 1970, and ...U.-annually thereafter on the lat day of
Jan• and the l•t day of Decmlber, each year, and additional in-
t•r••t •• evidenced by intere•t coupon• d••ignated •a• at the
rate of per centum ( . ") per annum for
the period from 1, 19 , to 1, 19 ,
inclu•ive, payllble on -, both
principal and int•r••t being payable at the Plr•t Rational Bank
of Bnglewood, in B119lewood, COlorado, upon pr•••ntation and surrender
of the attached coupon• and thi• Bond •• they ••verally become due
or are called for payment.
ftli• Bond i• •ubject to call and red-ption in its
regular nm1erical order in th• i••ue of which it i• one, on any
intere•t payaent date, upon pafllmt of par and accrued interest,
on thirty day• notice publi•hed in a nMf•paper of general cir-
culation in the City of BDCJlwood, colorado.
'l'hi• Bond i' i••ued for the purpo•• of paying the coats
of •tr .. t and avenue iaprov-nt• in PaYiDCJ Di•trict Ro. 18, in
the City of Bnglwood, COlorado, by virtue of and in full conformity
with the Con•titution and Law• of the State of Colorado, the
Charter of •aid City and an Ordinance of the City duly adopted,
approved, publi•hed and .. de a law of •aid City prior to the issu-
ance hereof.
'l'hi• Bond and the int•r••t thereon are payable out of
the proceed• of •pecial •••••8118Dt• to be levied upon real estate
•ituated in the City of BDCJlewood, COlorado, in Paving District
Bo. 18, •pecially benefited by •aid illprov ... nt•, which aase•amenta
80 to be levied, with accrued intere•t, will be lien• on said real
••tat• in the re•pective llllOUftt• to be apportioned thereto and aa-
••••ed by an ordinance of •aid City, and, if nece••ary, from the
Surplu• and Deficiency PUnd heretofore created pur•uant to the
Charter of •aid City.
t'he Charter of •aid City prorid••• •1fbenever a public
illprov ... nt di•trict ha• paid and cancelled four-fifth• of its
bond• out•tandi119, and for any rea80D th• r-ining a••eaaments
are not paid in tille to take up the final bond• of the District
md intere8t due thereon, and there i• not •ufficient •money in
•aid •pecial 8Urplu• and deficiency fund, then the City •hall pay
•aid bond• when due and intere•t due thereon and reimburse itself
by collectiDCJ th• unpaid u•••--t• due ••id di•trict."
It i• hereby certified and recited that the total issue
of bond• of the City for •aid Di•trict, including thi• Bond, does
not exceed the mount authorised by lawr that every requirement of
law relatiDCJ to the creation of •aid PaviDCJ Di•trict so. 18, the
conmtruction of •aid local illpr~t• and the i••uance of this
Bond ha• been fully caaplied with by the proper officers of said
City, and that all condition• required to exi•t and things required
to be done precedent to and in the i••uanc• of thi• Bond to render
the •-• lawful and valid, have happmed, been properly done and
performed, and did exi•t in regular and due time, form and manner,
•• required by law. '
Por th• payment of thi• Bond and the intereat thereon,
the City pledge• all of it• lawful corporate power•.
D TBSTDIDBY -RBOP, th• City of Bn9lwood ha• cauaed
thi• Bond to be aigned with a fac•illil•.•ignature of it• Mayor,
atteated and counteraigned by the manual ai9nature of the Director
of Pinance, •••led with a fac•illile of th• corporate aeal of said
City, and th• intereat coupon• hereto attached to be aiqned with
a facaild.le aignature of the Director of Pinance, a• of the lat
day of June, 1969.
(PACSDIILB)
(SBAL) (Pa8Ciaile Sicmature)
Mayor
Aft'BSTBD AllD COUll'l"BRSIGllBD1
(Do not •icm}
Director of-Pinance
(Porm of coupon)
llo. A ---
Ro. 8 ---June,
$ __ _
$ __ _
On the lat day of December, 19 , , the City of Englewood,
in the county of Arapahoe and State of Colorado, will pay to the
bearer
-----------------------DOLLARS ______________________ _.DOLLARS
in lawful money of the unitect State• of America, at the Pirat
Rational Bank of Bnglewood, in Bn9lewood, Colorado, being inter-
••t then due on it• local iaprov-nt bond iaaued for the con-
atruction of local iaprov .. enta in Paving Diatrict Ro. 18, Englewood,
Colorado, provided the Bond to which thi• coupon i• attached shall
not have been theretofore called for payment or paid. Attached
to Bond dated June l, 1969, bearing
Ro.
(Pacaiail• Sicmature)
Director of Plnance
Section 4. 'l'he proceed• of •aid bond• •hall be applied
only to pay the coat• and expenaea of conatructing the iap~ove
.. nt• in •aid Diatrict and all other co•t• and expenaea incident
thereto. In the event that all of th• proceed• of aaid bonds are
not required to pay auch coat• and apenaea, any ranaining amount
ahall be paid into the apecial a•••• ... nt fund for the purpose of
calling in and paying the principal of and intereat on said bonds.
Section 5. Said bond• and the intereat thereon shall be
paid f roa apecial aaaea .. enta to be levied on the real property in
aaid Diatrict, fram the Surplu• and Deficiency Pund of •aid City
and from any other available fund• of the City. When there is on
hand a aufficient amount to pay •ix month•' intereat on outstand-
ing bond• of aaid Diatrict, th• City •hall call for payment, on
the next intereat payment date, outatanding bond• in numerical
order with fund• available therefor.
Section 6. After the expiration of the period for cash
payment• of aaaea .. enta in full, the City •hall, to the extent
poaaible, pay each year not l••• than l°" of.the total amount .of
bond• of •aid Diatrict which r..ain out•tandin9.
Section 7. '!'hat in accordance with Section 108 of the
Charter of aaid City, whenever there i• a deficiency in the fund
of •aid Illprov...nt Di•trict to .. et payment of out•tandin9 bonds
and int•r••t thereon, •uch deficiency •hall be paid out of the
apecial Surplua and Deficiency Pund of •aid City. Whenever the
Diatrict ha• paid and cancelled four-fifth• of the bonds iasued
therefor and for any reaaon the r ... ining •••e• ... nt• are not paid
in tille to take up the final bond• of th• Diatrict and interest
due thereon, and there i• not aufficient 110ney in aaid Surplus and
Deficiency Pund, then the City •hall pay •aid bond• when due and
intereat thereon and reillbur•e it•elf by collecting the unpaid
a•••• ... nta due aaid Diatrict.
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Section 8. If it •hall be nec•••ary to advance money to
maintain curr•t payment• of intere•t and equal annual payments of
th• principal allOUllt of the bond• i••ued for •aid District, the
City Council ahall levy annual tax•• on the taxable property with-
in the City not exceedin9 two aill• in any one year and shall apply
the proceed• of •uch tax•• for •aid purpoae. In lieu of such tax
levie•, the Council .. Y annually tranafer to •uch •pec:ial fund any
available llODey of the City, but in no event •hall the amount
tranaferred in any on• year exceed the 1110unt which would re•ult
fre11 a tax levied in •uch year a• herein liaited. Such tax levies
or tran•f•r of fund• •hall be made in accordance with and pursuant
to Section 109 of the Charter of •aid City.
Section 9. Should any part or provi•ion of the Charter
of th• City of BncJlewood, colorado, or thi• Ordinance, or any part
or proviaion of an ordinance or the charter of any other City in
th• State of Colorado having •ub•tantially •iailar terms and pro-
v iaion• •• tho•• contained in the Bngl.wood Charter or this Ordi-
nance, ever be judicially determined to be invalid or unenforce-
able, auch determination •hall not affect th• rmnaining parts and
proviaion• of the Bnglewood Charter or thi• Ordinance, the inten-
tion beiDCJ that each part and proviaion of the Charter and this
Ordinance i• •everable.
All ordinance• or part• thereof in conflict with
thi• Ordinance are hereby repealed.
Section 10. Thi• Ordinance, after it• final passage,
ahall be recorded in a book kept for that purpo•er •hall be au-
thenticated by the •ipature• of the llayor and Director of Finance:
and be publi•hed a• provided in the Charter of the Cityt and after
beccain9 effective, ahall be irrepealable until the bonds of said
Di•trict •hall be paid in full.
Section 11. A public Bearin9 on thi• Ordinance will be
held in the Council Roan of the City Ball on Monday, the 19th day
of May, 1969, at the hour of 8100 o'clock P.M.
Section 12. Thi• Ordinance •hall take effect thirty
day• after publication followin9 final pa••a9e.
D'l'Rm>UCBD Alll> RBAD Thi• 5th day of May, 1969.
/~
~iiBST1
PillALLY ADOP'l'BD Alll> APPROVBD Thi• 19th day of May, 1969.
A'l"l'B8T1