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HomeMy WebLinkAbout1966 Ordinance No. 008·;1 •• I BY AU'l'BORI'l'Y ORDIRARCB RO. 8, SBRIBS OP 1966 All ORDDIAllCB AUTllORIZDIG THE ISSUABCB OP CI'l'Y OP BltGLBWOOD, COLORADO, PAVING DIS'fRIC'l' RO. 16 BOllDS AllD PROVIDIBG POR 'l'HB PAYMBllT OP SAID BOJIDS AND THE INTEREST 'ftlBRBC8. 1111BRBAS, Paving Diatrict Ro. 16, in the City of Bnglewood, Colorado, has been duly created by Ordinance Ro. 3, Series 1966, of •aid City, finally adopted and approved on the 21st day of March, 19661 and WBBRBAS, Rotice to contractors to submit bid• for the construction of the iaprov-enta in •aid Diatrict ha• been duly publiahed and the contract for , such conatruction ha• been duly awarded to Peter Kiewit San•' Company of Englewood, Color.Soi and WllBRBAS, Rotice of the aale of approxillately $182,000 of the bond• of said Diatrict ha• been duly publiahed and auch bond• have been awarded to Bosworth, Sullivan and CClllpany, Inc., Boettcher and Company, Coughlin and Company of Denver: and WllBRBAS, it i• now neceaaary to provide for the iaauance of said bonds and the fora and payment thereof 1 BB IT ORDAillBD BY TRB CI'l'Y COUllCIL OP TBB CI'l'Y OP BaJLBWOOD, COLORADO: Section 1. By virtue of and in purauance of the law• of the State of Colorado, the Charter and Ordinance Ro. 14, Seri•• 1965, of aaid City, bond• of Paving Diatrict Ro. 16 in aaid City •hall be iaaued for the purpose of paying for local iaprov ... nt• conatructed in aaid Pavin9 Diatrict. Said bond• •hall be dated a• of June 1, 1966, and •hall con•i•t of 172 bond• in the denomination of $1,000 each, numbered 1 to 172, incluaive. Said bond• •hall be payable to bearer and ahall be absolutely due and payable on June 1, 1977, aubject to call and prior payment in direct nU1Derical order at par and accrued intereat on any intereat payment date upan thirty day•' notice publiahed in the Bnglewood Herald and Bnterpriae. Said bond• ahall be aigned with the facaiail• aignature of the Mayor, atteated and counteraigned by the manual aignature of the City Clerk and Treasurer, and •••led with a facaimile of the aeal of •aid City, and •hall be payable out of 110niea collected from aaaea .. ent• to be levi.. for the improvements constructed in •aid Diatrict and from fund• hereinafter mentioned. Should any offcer whose aanaal or facaiaile aignature appear• on aaid bond• or the coupons thereto attached cea .. to be auch officer before delivery of the bond• to the purchaser, such aanual or fac:aiaile aignature •hall neverthel••• be valid and auf f icient for all purpo .... Said bond• ahall bear intereat payable •-i-annually on the lat day of June and th• lat day of December each year •• evidenced by two aeta of coupons to be att.ehed to •aid bond•, auch coupon• to be aigned with the facsimile signature of the City Clerk and Treaaurer. Said intereat caupona •hall be designated "A" and •a•, respectively. Coupon• •hall be attached to bond• numbered in the following achedule ahowing intereat rate• and the number of •a• coupons to be attached to each of aaid bond•: "A" Coupon• From Date "B" Coupons Bond• Roa. Amount To Maturity Prem :!:2 1-50 f50,000 3 3/4-2" 7-1-66 12-1-66 51-80 30,000 3 7/8~1.6°" 7-1-66 6-1-67 81-172 90,000 4 -1.6°" 7-1-66 6-1-67 Section 2. Said bond• and the coupon• to be attached thereto shall be in aubatantially the following forms sun OP COLORADO llo. __________________ ~ (Form of Bond) UllITBD STATBS OP AllBRICA CI'l'Y OP BRGLBl«>OD PAVIRG DISTRICT RO. 16 BORD COUllTY OF ARAPAHOE $1,000 'l'h• City of Bnglewood, in the County of Arapahoe and State of Colorado, for value received, acknowledge• itaelf indebted and hereby promises to pay to the bearer hereof the principal aum of OD TIK>USAllD DOLLARS -~ :· U«.LI ....... •. ·3li0 in lawful 11e>ney of the United Stated of America, on the lat day of June, 1966, aabject to ca11 and payment, however, on any intereat payment date, with interest thereon evidenced by intereat coupon• deaignated "A" at the rate of per centua ( ") per annum frca date until payment, payable amni-annually on the lat day of June and lat day of December each year, *(and additional interest aa evidenced by intereat coupon• deaignated •a• at the rate of per c:entul ( ") per ann1111, for the period frca _, 1966, to , 19 , lncluaive, payable , ) all auch princip-a"'!!"l_a_n""'!'d-- lntereat"lMting payable at the rlrat Rational Bank of Bnglewood, in Englewood, Colorado, upon preaentation and aurrender of the attached coupons and this Bond aa they aeverally become due or are called for payment. ftlia Bond ia iaaued for the purpoae of paying the coats of street and avenue :1aproYe11enta in Paving Diatrict Ro. 16, in the City of Bnglewood, Colorado, by virtue of and in full conformity with the Law• of the State of Colorado, The Charter of aaid City and an ordinance of aaid city duly adopted, approved, published and ..Se a 1aw of aaid City prior to the iaauance hereof. 'l'hia Bond ia payable out of the proceed• of apecial aaaeaaments to be levied upon real eatat• aituated in the City of Bnglewood, Colorado, in Paving District •o. 16, apecially benefited by aaid iaprov ... nta, which aaaeaaments so to be levied, with acc:rued intereat, will be lien• on aaid real estate in the respec- tive ..aunt• to be apportioned thereto and aaaeaaed by an ordinance of said City, and, if neceaaary, from the Surplua and Deficiency Pund heretofore created pursu- ant to the Charter of aaid City. ftl• Charter of aaid City providea1 "Whenever a public improvement district baa paid and cancelled four-fifth• of ita bond• outatanding, and for any reason the r ... ining aaaea .. enta are not paid in time to take up the final bonds of the Diatrict and the intereat due thereon, and there ia not sufficient money in said apecial aurplua and deficiency fund, then the City ahall pay aaid bonds when due and intereat due thereon and reiJlburae itaelf by collecting the unpaid assessments du• aaid diatrict.• It ia hereby certified and recited that the total iaaue of bonds of said City for aaid Diatrict, including thia Bond, doea not exceed the amount authorized by lawr that every requir ... nt of law relating to the creation of said Paving Diatrict Ro. 16, the making of aaid local improvement• and the issuance of this Bond haa been fully coaaplied with by the proper officer• of said City, and that all condition• required to exiat and thing• required to be done precedent to and in the iaauance of thia Bond to render the aame lawful and valid, have happened, been properly done and perforaed, and did exiat in regular and due time, form and ·llallfter aa required by law. For the payment of thia Bond and the intereat thereon, the City pledges all of it• 1awful corporate powera. IR t'BSTDIOllY 11BBRBOP, the City of Bnglewood haa cauaed this Bond to be aigned with the facaiaile aignature of it• Mayor, atteated and countersigned by th• 11anual aignature of the City Clerk and Treaaurer, aealed with a facsimile of th• co~rate aeal of aaid City, and the intereat coupon• hereto attached to be aigned with the facaiaile aignature of the City Clerk and Treasurer, as of the lat day of June, 1966. (PACSDaLB) (SBAL) (Pac•imile Signature) Mayor ATTBSTBD ARD COUlftBRSIGRBD1 LDo not •ign) City-Clerk----.ncl Treaaurer (Pona of coupon) llo. A ____ _ $ ___ _ •o. •-----$ ___ _ June On the lat day of December 19 , the City of Englewood, in the County of Ara~oe and State of Coloraao, will pay to the bearer -----------------------------DOLLARS ----------------------------._;DOLLARS in lawful 110Dey of the United State• of America, at the Pirat Rational Bank of Bnglewood, in Englewood, Colorado, being intereat then due on its local improve- •ent bond iaaued for the conatruction of local improvmnenta in Paving District •o. 16, Bnglewood, Colorado, provided the Bond to which this coupon is attached ahall not have been theretofore called for payment or paid. Attached to Bond dated JUne 1, 1966, bearing llo. ______________ _ (Pacaiaile S_Mmatuxe) C1ty C~erk-and Treasurer *In-rt the following clame on Bonda Rullbered. ___ _ to , inclusive. I I •• I •• • Section 3. 'lhe proceed• of aaid bond• •hall be applied only to pay the coata and expenaea of conatructing the iaprovements in said District and all other coata and expenaea incident thereto. In the event that all of the proceeds of aaid bonda are not required to pay auch coata and expenses, any remaining ..ount ahall be paid into the apecial aaseaament fund for the purpose of calling in and paying the principal of and interest on aaid bonds. Section 4. Said bond• and the interest thereon shall be paid from special aa .. a ... nta to be levied on the real property in aaid District, fran the Surplus and Deficiency Pund of aaid City and frc:a any other available funds of the city. lftlen there ia on hand a aufficient maount to pay aix months' interest on out- atanding bond• of •aid Diatrict, the City ahall call for payment, on the next intereat payment date, outatanding bond• in nU1Derical order with funds available therefor. Section 5. After the expiration of the period for caah payments of assess- aenta in full, the City ahall, to the extent poaaible, pay each year not less th.a l°" of the total alDOunt of bonda of aaid Diatrict outatanding after the pay- .. nt of bond• with the proceed• of auch caah payment• of aasesaments in full. Section 6. '!hat in accordance with Section 108 of the Charter of said City, whenever there ia a deficiency in the fund of aaid Iaprovement District to meet payment of outatanding bond• and intereat thereon, auch deficiency shall be paid out of the apecial Surplua and Deficiency Pund of aaid City. Whenever said Diatrict ha• paid and cancelled four-fifth• of the bond• iasued therefor and for any rea80n the r ... iniDCJ aaaea ... nta are not paid in tiae to take up the final bond• of the Diatrict and intereat due thereon, and there ia not sufficient money in aaid Surplua and Deficiency Pund, then the City ahall pay aaid bonds when due and inter .. t thereon and reillburae itaelf by collecting the unpaid assessments due aaid Diatrict. Section 7. If it •hall be neceaaary to advance 110ney to maintain current payment• of intereat and equal annual payment• of the principal amount of the bond• iaaued for aaid Diatrict, the City Council ahall levy annual taxes on the taxable property within the City not exceediDCJ two aill• in any one year and ahall apply the proceed• of auch taxea for aaid purpoae. In lieu of such tax leviea, the Council may annually tranafer to auch apecial fund any available money of the City, but in no event ahall the a110unt tranaferred .in any one year exceed the 1110unt which would reault from a tax levied in auch year as herein limited. Buch tax leviea or tranafera of funda may be llad• in accordance with and pursuant to Section 109 of the Charter of aaid City. Section 8. Should any part or proviaion of the Charter of the City of Bnglewood, COlorado, or thia Ordinance, or any part or proviaion of :an ordinance or the charter of any other City in the State of Colorado having substantially aillilar tenu and proviaiona aa thoae contained in the Bnglewood Charter or this Ordinance, ever be judicially deterained to be invalid or unenforceable, such detend.nation ahall not affect the r ... 4ting part• and provisions of the Bnglewood Charter or thia Ordinance, th.,.ntention being that each part and pro- viaion of th• Charter and thia Ordinance i• aeverable. All ordinance• or part• thereof in conflict with thia Ordinance are '"hereby repealed. Section 9. '!hia Ordinance, after ita final paaaage ahall be recorded in a book k~pt for that purpoae1 ahall be authenticated by the aignatures of the Mayor and City Clerlu ahall be publiahed as provid4n the Charter of the city: and after becaaing effective, ahall be irrepealable until the bonds of said District ahall be paid in full. Section 10. A public Bearing on thia Ordinance will be held in the council Roall of th• City Ball on Monday, the 16th day of May, 1966, at the hour of 8:00 o'clock P.M. Section 11. 'fhia Ordinance ahall take effect tlltrty days after publication following final paaaaage. PUALLY ADOP'l'BD MID APPROVBD thia 16th day of llay, 1966. ... Cl~hL- --........ 7 JAyor~~ -- AllBl'f 1 . t f~.381 . ..