HomeMy WebLinkAbout1968 Ordinance No. 020I
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Introduced •• a Bill by councilman Lone.
BY AOTllOUTY
ORDillAllCB BO. 20, &DIBS of 1968
Mr OJIDDIAllCB Aut'llORIZDIG '1'llB ISSUAllCB 01' CI'l'Y' OP BRGLBWOOD,
COLOMDO, PAVDG Dil'l'RIC'l' BO. 17 BOllDS AllD PROVIDDIG POR 'l'BB PAYMDT
OP Mm ..,. AllD .,... Dii&Dl'l' nm ....
MH•RBAS, Paving Di•trict Ro. 17, in the City of Bnglewood,
COlorado, ha• been duly created by Ordinance Ro. 10, Serie• of 1968,
of •aid City, finally adopted · and approved on the 18th day of March,
19681and
WH•P.BAS, llOtice to Contractor• to 8Ubmit bid• for the con-
•truction of th• illpr0Yell9nt• in •aid Di•trict ha• been duly published
and th• contract for 8UCh con•truction ha• been awarded to Peter
Kiewit &on•, co. of Denver, colorador and
WH•RSAS, llotic• of the ••l• of $387,000 of bond• for said
Di•trict ha• been duly publi8hed and 8Uch bond• have been awarded
to Kirchner, ._re • CC.pany of Denver, COlorador and
ttH•IBAS, it i• now nec•••ary to provide for the issuance
of •aid bond• and the form ~od payment thereof r
88 IT OJaaDIBD BY '1'BB CITY COUllCIL 01' '1'llB CITY OP DGLBWOOI>,
COLOMDOt
Section 1. By virtue of and pur•uant to the Laws of the
State of COlorado, the Charter and Ordinance llO. 14, Serie• 1965,
of •aid City, bOnd• for Paving Di•trict·Jlo. 17 in •aid City shall be
i•8Ued for th• parpo•• of paying for local illprov•ent• to be con-
•tructed in •aid Paving Diatriat. Bond• •hall be dated as of June
1, 1968, and 8hall con•i•t of 387 bond• in the denOlllination of
fl,000 each, nallllbered 1 to 387, inclu•ive. Said bond• shall be pay-
9ble to bearer and 8hall be due and payable on June 1, 1979, subject
to call and prior payment in direct numerical order on any t~•t
... Jlllla~· dd99r bponp*tdftr •t1°'i..,_' publi•hed notice, at par and
accrued intere•t. llotice of call and payment 8hall be published in
a newapaper of general circulation in the City and a copy of such
llotice 8ball be .. iled to the original purch•••r of the bonds, at
th• time of nch publication.·
Section 2. Said bond• shall bear interest a• evidenced
by •A• coupon• attached to •aid bond•, payable on June 1, 1969,
and ...U.-annually thereafter on June 1 and Decellber 1, each year,
and additional interest •• evidenced by -.• coupons attached to
aaid bond•, pay9bl• on June 1, 1969, according to the following
achedulea
•A• Intere•t •a• Interest Rate
Rate f rOlll Date f rcm 7-1-68
Bond 808. AllOunt to Jlaturitx to 6-1-69
1 to 115, incl. $155,000 4 .1/8" 1.80 " 156 to 215, incl. 60,000 4 1/8 " 1.80 " 216 to 260, incl. 45,000 4 1/4 " 1.70"
261 to 300, incl. 40,000 4 3/8 " 1.20 " 301 to 330, inol. 30,000 . 4 1/2 " 1.20 "
331 to 350, incl. 20,000 4 1/2 " 1.20 " 351 to 370, incl. 20,000 4 5/8 " 1.20 " 371 to 387, incl. 17,000 ' 5/8 " 1.20 "
'l'h• principal of and interest on •aid bond• ahall be payable
at the Pir•t 8ational BanJt of Bnglewood, in Bnglewood, Colorado.
Said bond• •hall be •igned with a fac•imile •ignature of
the llayor, •••led with a facaillile of the Seal of the said City,
att••ted and counter•igned with the manual •ignature of the City
Clerk and Trea.urer, and the intere•t coupon• attached thereto shall
be •igned with a f .. aiaile signature of the City Clerk and Treasurer.
Sbould any officer who•• nllll\Ull or f acaimile signature
appear• on •aid bond• or the coupon• attached thereto cease to be
8\lch officer before delivery to bond• to the purcha•er, such aanual
or f ac•iail• •ifJDBture 8hall neverthel••• be valid and auf f icient
for all purpoH•.
Section 3. 'l'h• bond• and coupon• to be attached thereto
ahall be in nb•tantially the following ., rm 1
156
l'l'Aft OP OOLORADO
Bo.
(Porm of J19nd)
UJII'IBD S'l'A'l'BS OP AllBRICA
CITY OP JqfGLBllOOD
PAVDIG DIS'l'RIC'l' llO. 17
80111>
COUll'l'Y OP ARAPAHOE
$1,000
'fhe City of Bnglewood, in the County of Arapahoe and State
of COlorado, tor value received, acknowl-'fe• it•elf indebted and
hereby praai••• ta pay to the bearer hereof, o~t of the special fund
or fund• hereinafter de•ignated but not otherwi•e, the principal awn
of
OD TBOU8AllD DOLLARS
in lawful money of the united State• of Allerica, on the l•t day of
June, 1979, with intere•t thereon a• evidenced by intere•t coupon•
de•ignated •A• at the rate of per c•tua ( ") per
annum from date until payment, payable on June 1, 1969, and •-i-
annually therea~ter on the l•t day of .June and the l•t day of Decem-
ber, each year, and •dditional intereat a• evidenced by intereat cou-
pon• deaignated •a• at the rate of per centua ( ")
per annum for th• period from i, 19 , to
1, 19 , incluive, payable on .. ---,~b..-o"!"th_p_r .. ln-ci-
pal aDi intere•t being payable at the Plr•t Batlonal Bank of Englewood,
in BnglMIOC>d, COlorado, upon pre•entation .and murrender of the attach-
ed coupon• and thi• Bond •• they ••verally became due or are called
for payment.
'l'hi• Bond ·i• Abject to call and 'red-ption in .it• regular
n1111erical order in the i•mu• of which it i• one, on any interest
payment date, at par and accrued ~ntere•t, on thirty day• notice
publi•hed in a new8paper of general circulation in •aid City.
'l'hi• llond i• iaaued for the purpoae of paying the costs
of atreet and avenue iaprov ... nt• in Paving Diatrict llo. 17, in the
City of Bnglewood, Colorado, by virtue of and in full conformity with
th• Con•titution and Lavm of the State of Colorado, the Charter of
aaid City and an Ordinance of the City duly adopted, approved, pub-
li8hect and aade a law of •aid City prior to the ianance hereof.
!'hi• Bond and the intere•t thereon are payable out of the
proceed• of apecial ••••• .. •nt• to be levied upon real e•tate situated
in th• City of Bnglewood, Colorado, in Paving District Ro. 17,
•pecially benefited by •aid iaprov .. enta, which aaaeaamente so to
be levied, with accrued inter••t, will be lien• on •aid real estate
in the r••pective amount• to be approtioned thereto and assessed by
an ordinance of •aid City, and, if nece••ary, from the Surplus and
Deficiency Pund hereto fore created purauant to the Charter of said
City.
'fhe Charter of •aid City provideaa "Whenever a public im-
prov ... nt di•trict ha• paid and cancelled 19ur-f ifth• of it• bonds
out•tanding, and for any rea•on the r ... inin9 aaaea .. ents are not paid
in ti.lie to take up the final bond• of the Diatrict and interest due
thereon, and there i• not nf ficient money in •aid •pecial •urplus
and deficiency fund, then the City •hall pay •aid bonds when due
and intere•t due thereon and reimburse it•elf by collecting the
unpaid ........ nt• due •aid diatrict.•
It i• hereby certified and recited that the total issue
of bond• of •aid City for aaid Diatrict, including this Bond, does
not exceed the mount authorized by law1 that every requirement of
law relating to the creation of •aid Paving Diatrict Ro. 17, the
aaking of aaid local iaprov ... nta and the iamuance of thi• 8ond
baa been fully eo11plied 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 i.aauance of thi• Bond to render the
•-• lawful and valid, have happened, been properly done and performed,
and did exiat in regular and due tiae, form and manner, a• required
by law.
Por the payment of thi• Bond and the interest thereon, the
City pledge• all of it• lawful corporate powers.
DI 'l'BSTDIOllY 11BBRBOP, the City of Englewood has cau•ed this
Bond to be aigned with a fac•iaile •ignature of it• Mayor, atte•ted
mid count•r•igned by the manual aignature of the City Clerk and Trea-
aurer, aealed with a facaiaile of the corporate •eal of aaid City,
and the intere•t coupon• hereto attached to be aigned with a fac•imile
aignature of the City Clerk and Treaaurer, a• of the let day of
June, 1968.
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(PACSDD.B)
(SBAL)
A'ft'BftBD AllD COUWIBRSIUlllWt
(Do not •ian)
Clty CJ:erk land \'rea•urer
(Pora of coupon)
llo. A ___ _
llo. ·----
~ .yo.
$ __ _
$ __ _
On the l•t day of fllf:t:r 19 , the City of Bnqlewood,
in the county of Arapahoe an ~e bf Colorado, will pay to the
bearer
----------------------------DOLLARS
DOLLARS
in lawful 110ney of th·-e~un~l~t-ea--~s~t-a~t-e_•_o __ f_Am~e-rica, at the First National
Bank of Bnglewood, in Bngl.wood, Colorado, beinq interest then due
on it• local iaprov-•nt bond i•Red for the con•truction of local
iaprov...nt• in Paving Di•trict •o. 17, Bnglewood, Colorado, provided
the Bond to which thi• coupon i• attached •hall not have been thereto-
fore called for payment or paid. Attached to Bond dated June 1, 1968,
bearing
llo. frac•imile Signature)
City-CTerlt and Trea•urer
Section 4. The proceed• of •aid bond• •hall be applied
only to pay the co•t• and expen•e• of con•tructing the improvements
in .aid Di•trict and all other co•~• and expen•e• incident thereto.
In the event that all of the proceed• of •aid bond• are not required
to pay Reh co•t• and expen•••, any r-ining amount •hall be paid
into the •pecial a•••• .. ent fund for the purpo•e of calling in and
payiftCJ the principal of and intere•t on •aid bonds.
Section 5. Said bond• and the intere•t thereon •hall be
paid f ro11 •pecial a•••• .. ent• to be levied on the real property in
.aid Di•trict, fro11 the Surplu• and Deficiency Fund of aaid City
and frca any other available fund• of the City. When there i• on
hand a .ufficient llllCH.mt to pay •ix month•' intereat on outatandinq
bond• of •aid Di•trict, the City •hall call for payment, on the next
intere•t paYllellt date, out•tanding bond• in numerical order with
fund• available therefor.
Section 6. After the expiration of the period for cash
payment• of a•••• ... nt• in full, the City •hall, to the extent
pe••ible, pay each year not l••• than l°" of the total amount of
bond• of •aid Di•trict which r-.in out•tanding.
Section 7. That in acoordance with Section 108 of the
Charter of •aid City, whenewer .there i• a deficiency in the fund
of •aid Iaprov...nt Di•trict to ... t payment of out•tanding bonds
and intere•t thereon, 8UCh deficiency 8hall be paid out of the
9pe0ial Surplu• and Deficiency Pund of •aid City. Whenever the
Diatrict ha• paid and cancelled four-fifth• of the bond• iaaued there-
for and for any rea80D the r-ining a••e••ent• are not paid in time
to take up the final bond• of the Di•trict and intereat due thereon,
and ti.re i• not Rfficient llOlley in •aid Surplu• and Deficiency Fund,
then the City 8hall pay •aid bond• when due and intereat thereon and
reillbur .. it .. lf by collecting the unpaid a•••• ... nt• due said Dis-
trict.
Section 8. If it •hall be nece••ary to advance mom y to
maintain current payment• of intere•t and equal annual payments of
the principal llllOUllt of the cond• i••ued for •aid Di•trict, the City
Council 8hall levy annual tax•• on the taxable property within the
City not exceediDCJ t1'0 .aill• in any one year and •hall apply the
proceed• of 8UCh tax•• fro •aid purpo... In lieu 9f •uch tax levie.-,
the coancil -Y annually tran•f•r to Reh •pecial fund any available ·· ·· -~
_,_Y of the City, but in no event •hall the maount tran•ferred in '
any one year exceed the amount which would renlt frcm a tax levied
in auch year a• herein limited. Such tax leviea or transfer• of
fund• .. y be made in accordance with and purauant to Section 109
of th• Charter of aaid City.
Section 9. Should any part or proviaion of the Charter of
th• City of BIMJlewood, COlorado, or thi• Ordinance, or any part or
proviaion of an ordinance or the charter of any other City in the
State of COlorado having aubatantially aiailar term• .and proviaione
a• thoae contained in the Bn9levood Charter or thi• Ordinance, ever
be judicially determined to be invalid or unenforceable, auch deter-
llination ahall not affect the r .. ainin9 part• and proviaiona of the
Bnglewood Charter or thi• Ordinance, the intention being that each
part ad proviaion .of the Charter and this Ordinance ie severable.
All ordinance• or parts thereof in conflict with this
Ordinance are hereby repealed.
Section JD. 'l'hi• Ordinance, after it• final paeaage, shall
be recorded in a book kept for that purpoae1 ahall be authenticated
by th• aignatur•• of the Mayor and City Clerk: and be publiebed ae
provided in th• Charter of the City: and after becoming effective, shall
be irrepealabl• until the bond• of •aid Di•trict ahall be paid in full.
Section 11. A public Bearing on thi• Ordinance will be
held in th• council Roell of th• City Ball on Monday, the 20th day of
Kay, 1968, at the hour of 8100 o'clock P.M • .
Section 12. 'l'hi• Ordinanc-•hall take effect thirty days
after publication following final paaaage.
nrlODCX!BD Alm RDD 'fhi• 6th day of May, 1968.
~~ Mayo
(S B A L )
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