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HomeMy WebLinkAbout1965 Ordinance No. 009BY AUTHORITY ORDDIAllCB .:>. 9, SBRIBS OP 1965 Alf ORDDIAIJCB AUTllOUZIBG TllB ISSUAllCB OP CITY OP mGLmlO(I), COLORADO, PAVING DI8'1'JUC'I' 80. 15 ...,. MD Paovmmo POR '1'BB PADIBlllT OP &Am 8011DS Al1D '1'HE INTBREST 'IBIDla:m. 1111BRBAS, Paving Di•trict Ro. 15, in the City of Bnglewood, Colorado, has been duly created by Ordinance Bo. 5, Seri•• 1965, of aaid City, finally adopted and approved on the 15th day of llarch, 19651 and 1lllBRBA8, Rotice to Contracto.r• to aubmi t bid• for the conatruction of the . illprov ... nt• in aaid Diatrict ha• been duly publiahed and the contract for such conatruction ha• b-n duly awarded to Peter Kiewit and Sona' Campany, of Littleton, color.So1 and 1111BRBAS, Rotice of .the •ale of approximately $255,000 of the bonds of said Diatrict ha• been duly publiahed and $255,000 of auch bonds have been awarded to Coughlin and Cc:mpany, et al, of Denver, Colorador and 111BRBAS, it i• now neceaaary to provide for the iaauance of said bonds and th• fora and payaent thereof 1 U IT ORDAillBD Br '1'BB CITY COUBCIL OP '1'BB CITY OP B1'GLBllOOD, COLORADO: Section 1. By virtue of and in purauance of the laws of the State of Colorado, the Charter and Ordinance Ro. 8, Seri•• 1959, of aaid City, bonds of Paving District Jlo. 15 in •aid City ahall be iaaued for the purpoae of paying for local improvements conatructed in •aid Paving Diatrict. Said bond• •hall be dated as of July 1, 1965, and 8hall con•i•t of 255 bond• in th• denCllination of $1,000 each, numbered 1 to 255, incluaive. Said bond• •hall be payable to bearer and •hall be absolutely due and payable on JUly 1, 1976, 1aubject to call and prior payment in direct numerical order at par and accrued intereat on any intereat payment date upon thirty days' notice publiahed in the Bnglewood Herald and Bnterpriae. Said bond• ahall be aigned with the facaimile aignature of the Mayor, attested and counteraigned by the manual aignature of the City Clerk and Treasurer, and sealed with a fac:aillile of the aeal of aaid City, and ahall be payable out of monies col- lected fraa a•••• ... nt• to be levied for the iaprovementa constructed in said District and fraa fund• hereinafter -ntioned. Should any officer whose signature or facsimile signature appear• on aaid bond• or the coupon• thereto attached cease to be such officer before delivery of th• bond• to the purchaaer, auch signature or facsimile aignatur• ahall neverthele•• be valid and aufficient for all purposes. Said bond• •hall bear intereat payable aani-annually on the lat day of January and the lat day of July each year a• evidenced by two aet• of coupons to be attached to aaid bond•, auch coupon• to be aigned with the facaimile signature of the City Clerk and Treaaurer. Said intereat coupon• •hall be deaignated "A" and "B", respec- tively. Coupon• ahall be attached to bond• numbered in the following schedule show- ing intereat rate• and the number of •a• coupon• to be attached to each of said bonds: Bond IO•· 1-75 75-115 116-150 151-180 181-210 211-235 236-255 Allount $75,000 40,000 35.000 30,000 30,000 25,000 20,000 •A• COUPORS Prem Date To Maturity 1966 -2.70% 1967 -2.90% 1968 -3.0°" 1969 -3.10% 1970 -3.15% 1971 -3.20% 1972 -3.25% "B" coupons p~ to Aug.1,1965, Jan.1,1966 2.10% Section 2. Said bond• and the coupon• to be attached thereto shall be in sub- atantially the following fora1 S'l'Aft OP COLORADO 80. _______ _ UllITBD STA'l'BS OP AMBRICA CITY OP IDIGLBllOOD PAVIBG DISTRICT 80. 15 80llD COUR'l'Y OP ARAPAHOE $1,000 'ltl• City of Snc)levood, ln the County of Arapahoe and State of Colorado, for value received, ac:knowledcJe• lt•lt indebted and hereby prcmiaea to pay to the bearer hereof th• principal ama of OD 'ftlOUSUJ> DOLLARS in lawful 110ney of th• united State• of America, on the lat day of July, 1976, subject to call and payment, however, on any intereat payment date, with interest thereon -as evidenced by intereat coupon• deaignated •A• at the rate of per centum ( ") per ann\111 fraa date until payment, payable semi-annually on the 1st day of January and the lat day of J*ly each year, and additional interest as evidenced by I .. ,~ 1' :1 1 ';. I : !I I I I intere•t coupon• de•ignated •a• for the period from , 1965, to -------------' 19 , inclusive, payable on , 19 , in the mount of $ and on , l9 , in the •ount of $ all 8uch principal and intere•t being payable at the Pir•t Rational Bank of----En_g_l_ewoo ___ d, in Snglewood, COlorado, on pre•entation and .urrender of the attached coupons and this Bond •• they •everally beccme due or are called for payment. 'fhi• Bond i• iaaued for the purpoae of paying the coat• of atreet and avenue illprov .. enta in Paving Diatrict Ro. 15, in the City of Bnglewood, Colorado, by virtue of and in full conforaity with the Lawe of the State of Colorado, the Charter of said City and an ordinance of •aid City duly adopted, approved, publiahed and made a law of •aid City prior to the iaauance hereof. '!hi• Bond i• payable out of the proc-da of •..-cial aaaeamnents to be levied upon real ••tate aituate in the City of Englewood, Colorado, in Paving District No. 15, mpecially benefited by aaid iaprovementa, auch aaaeamnents •o to be levied, with .ccrued intereat, will be lien• on •aid real eatate in the reapective amounts to be apportioned thereto and aaaeaaed by an ordinance of aaid City, and, if necessary, fraa the Surplua and Deficiency Fund heretofore created purauant to the Charter of •aid city. 'l'h• Charter of aaid City providea1 •1fhenever a public improvement district has paid and cancelled four-fifth• of it• bond• out•tanding, and for any reason the re- maining a••ea ... nt• are not paid in time to take up the final bonds of the district and intere•t due thereon, and there i• not aufficient money in said special surplus and deficiency fund, then the City ahall pay aaid bonds when due and interest due thereon and rei.Jlburae itaelf by collecting the unpaid aaaeaaments due said district." It i• hereby certified and recited that the total iaaue of bonds of said City for •aid Diatrict, including thi• Bond, doe• not exc~ the •ount authorized by lavr that every requir81Deftt of law relating to the creation of aaid P.ving District llo. 15, the aaking of •aid local iaprov-ent• and the isauance of this Bond has been fully caaplied with by the proper officer• of •aid City, and that all conditions re- quired to exiat and thing• required to be done precedent to and in the issuance of thi• Bond to render the •-lawful and valid, have happened, been properly done and perfonled, and did exiat in regular and due time, form and manner, as required by law. Por the payment of thi• Bond and the intereat thereon, the City pledges all of it• lawful corporate power•. XII '1'BS'l'DIORY WBBRBOP, the City of Englewood has cauaed this Bond to be signed with the facaimile aignature of it• Mayor, atteated and countersiqned by the manual aignature of the City Clerk and Treaaurer, aealed with a facaimile of the corporate ••al of •aid City, and the intereat coupon• hereto attached to be signed with the fac•iaile aignature of the City Clerk and Treaaurer, •• of the lat day of J~ly, 1965. (PACSDllLB) ( S B A L ) AT'l'BS'l'BD AllD COUll'l'BRSIGRBD1 IDo Bot aiqn) Clty Clerk an~ Treaaurer llo. A.._ ___ _ Bo. a._ ___ _ (Facaiaile Siqnature) Mayor (Form of Coupon) $ ___ _ $ ___ _ on the l•t day of J~ttfp,'• 19 , the City of Bnglewood, in the county of Arapahoe and State of Colorado, willpay to the bearer __________________ DOLLARS ________________ DOLLARS in 1~ money of the united State• of America, at the Pirat National Bank of Bnglewood, in BnCJlewood, Colorado, being interest then due on its local improvement band i .. ued for the conatruction of local iaprovement• in Paving Diatrict No. 15, Bngl.uood, Colorado, provided the Bond to which this coupon ia attached shall not have been theretofore called for payment or paid. At•ached to Bond dated July 1, 1965, bearing "°··-------------(Pacaimile Signature) City Clerk and Treasurer • Section 3. 'fhe proc-da of •aid bond• shall be applied only to pay the coats and expen .. • of conatruction and improvement• in said District and all other coats and expen .. • incident thereto. In the event that all of the proc-ds of said bond• are not required to pay •uch coats and expenaea, any remaining amount shall be paid into the mpecial aaaeamnent fund for the purpoae of calling in and paying the principal of and intereat on •aid bond•. - ; ... ..:~~ ...,,·T~ . ..,.,, 326 Section 4. Said bonds and the interest thereon shall be paid from special assess- .. nta to be levied on the real property in said District from the Surplus and Deficiency Fund of aaid City and fram any other available funds of the City. When there is on hand a aufficient mDOUnt to pay aix month•' intereat on outstanding bonds GG said Diatrict, the City ahall call for payment, on the next interest payment date, out- atandin9 bond• in n\DDerical order with funds available therefor. Section 5. After the expiration of the period for cash payments of assessments in full, the City ahall pay each year not leaa than l°" of the total amount of bonds of aaid Diatrict outatandin9 after the payment of bonds with the proceeds ~ such cash payment• of aaaea .. enta in full. Section 6. That in accordance with Section 108 of the Charter of said city, 1ilenever there ia a deficiency in the fund of aaid Improvement District oo meet pay- ment of outatandin9 bond• and intereat thereon, such deficiency shall be paid out of the apecial Surplua and Deficiency Fund of said City. Whenever said District has paid and cancelled four-fifths of the bonds issued therefor and for any reason the r .. aining aaaea .. enta are not paid in time to take up the final bonds of the District and intereat due thereon, and there is not sufficient money in said Surplus and Deficiency Fund, then the City ahall pay said bonds when due and interest due thereon · and reillburae itaelf by collecting tlhe unpaid assessments due said District. Section 7. If it ahall be neceaaary to dadvance money to maintain current pay- ••nta of intereat and equal anhual payment• of the principal amount of the bonds iaaued for aaid Diatrict, the City Council shall levy annual taxes on the taxable property within the City not exceedi119 two mills in any one year and shall apply the proceed• of auch taxea for said purpose. In lieu of such tax levies, the Council .. Y annually tranafer to such special fund any available money of the City, but in no event ahall the llllOUnt tranaf erred in any one year exceed the amount which would reault frcn a tax levied in such year as herein limited. Such tax levies or trans- fer• of fund• may be made in accordance with and pursuant to Section 109 of the Charter of aaid City. Section 8. Should any part or provision of the Charter of the City of Englewood, COlorado, or thia Ordinance, or any part or provision of an ordinance of the charter of any other City in the State of Colorado having aubstantially similar terms and proviaiona aa thoae contained in the Bn9lewood Charter or this Ordinance, ever be judicially determined to be invalid or unenforceable, such determination shall not affect the rellaininq part• and proviaiona of the Englewood Charter or this Ordinance, the intention beinq that each part and provision of the Charter and this Ordinance ia aeverable. All· ordinance• or part• thereof in conflict with this Ordinance are hereby repealed. Section 9. 'l'hi• Ordinance, after its final passage shall be recorded in a book kept for.that purpoae1 ahall be authenticated by the signatures of the Mayor and City Cle~kJ ahall be publiahed as provided in the Charter of the City1 and after be- eaaing effective, ahall be irrepealable until the bonds of said District shall be paid in tull. Section 10. A.public hearing on this Ordinance will be held in the Council ROOll of the City Ball on Monday, the 21st day of June, t965, at the hour of 8:00 ~lock P.M., and Rotice of such Hearing is hereby authorized to be given by pub- lication once in the Bn9lewood Hearld and Enterpriae in its issue of June 10, 1965. section 11. 'fhia Ordinance ahall take effect thirty days after publication following final paaaa9e. l&tkODOCBD AllD RBAD Thia 7th day of June, 1965. PillALLY ADOP.l'BD ARD APPROVBD This 21st day of June, 1965. Mayor A'ft'BS'l'a <: £,,..,,.___,~;;>-ee. . . ..-T City Clerk I I I I I, Ray Chaae, City Clerk of the City of Bnglewood, County of Arapahoe, State of color.So, do hereby certify that the above and foregoing ordinance was intro- duced, re.S, paaaed and ordered publiahed a• a bill in the Englewood Herald and BnterpriM at a regular ._ting of the City council held on the 7th day of June, A.D., 1965, and that at leaat 7 day• after above publicationaa• a bill the above ordinance vaa approved, adopted and ordered published in •aid legal newspaper by the C~ty council at a regular meeting held on the 2l•t day of June, A.D., 1965, a• ordinance llo. 9, Serie• of 1965, of •aid City. <2 .~-L.~ ~lty~r~ • • . '" ... (.}~{· ..