HomeMy WebLinkAbout1965 Ordinance No. 016,,
BY AtmlORITY
ORDIRAllCB RO. 16, SBRIBS OP 1965
All ORDDIAllCB PROVmillG POR 'l'BB ISSUAllCB BY ftlB CITY OP BRGLBWOOD, COLORADO, OP
H'S BBGO'l'IABLB COUPOlf RBPUBDIBG WATBR BOllDS, SBRIBS 1965, IB TBB PRINCIPAL AMOUNT OF
$4,845,000, TO BB DBSIGllATBD •RBPtJllDDG WATBR 80111>8•, POR 'l'RB PURPOSE OP RBPUNDIRG
A GRBATBR AllOUllT OP OU'l'STAllDillJ BOllDBD DIDBlft'BDm& OP SAID CI'l'Yr PRESCRIBING THE
PO• OP SAID RBP\JllDIRG BOllDS AllD ALL OP TllB DB'l'AILS '!llBRBOPr PROVIDING FOR THE LEVY
AllD COIJ.BC'TIOR OP All AIDIUAL TAX TO PAY SAID aoms, PRDICIPAL AllD INTBRBST: AND PRO-
VIDDG POR 'ftlB BSTABLISIDIDT OP A PROPBR BSCROlf JURBmBl'l' TO ASSURB PAYMENT OP THE
8CllD8 8BDG RBPUllDBD.
18BRBAS, the City of Bnglewood, Arapahoe County, Colorado, has outstanding its
negotiable coupon bonda, more particularly deacribed in a Reaolution and Certificate
of Deteraination heretofore adopted Auguat 16, 1965, which deacription• are incor-
porated herein by apecific reference, of the iaauea dated and designated as follows:
Outatanding
Amount
$ 610·,ooo
623,000
217,000
14,000
150,000
225,000
300,000
115,000
895,000 •n.ooo
1,650,000
Type, Date and
Deaignation of Iaaue
Refunding Water Bonds
Decmaber 1, 1948
Refunding Water Bonda
December 1, 1950
Series of 1950
Refunding Water Bonds
December 1, 1951
Serie• 1959
Water Bxtenaion Bonda
June 1, 1953
Water Bxtenaion Bonds
June 1, 1954
Water Bxtenaion Bonda
December 1, 1955
Water Bxtension Bonda
June 1, 1956
Water Bxtenaion Bonda
June 1, 1957
Water Bxtenaion Bonds, March 1, 1960
General Obligation Water
Bxtenaion Bonds
llovember 1, 1961
General Obligation Water
Bxtenaion Bonda
Rovember 1, 1962
Serie• 1962
Hereinafter Sometimes
Referred to A•
Bonds 1948
Bonds 1950
Bonds 1951
Bonda 1953
Bonds 1954
Bonds 1955
Bonds 1956
Bonds 1957
Bonds 1960'
Bonds 196(1.
Bonds 1962
In a total a110unt of $5,034,000 (admetinea collectively referred to as the "Outstanding
Water Bonda•)r and
1111BRBAS, aaid bonda may be red ... ed and refunded and a substantial savings in
principal and net intereat coat and a reduction in net effective interest rate thereby
obtainedr and
1111BRBAS, by a Reaolution duly adopted on the 16th day of August, 1965, the City
Council of the City of Bnglewood, Colorado, determined to issue, in accordance with
the Charter of aaid City and Conatitution and Law• of the State of Colorado, particu-
larly COlorado Reviaed Statute• 1963, Chapter 199, Article 44, new bonds, each to be
deaignated •aefunding Water Bond, Serie• 1965•, the aame to be sol• at not less than
their par value and the proceed• thereof uaed for the purpose of refunding and paying
aaid OUtatanding Water .Bonda in the total aum of $5,034,000, hereinabove referred to,
the ..aunt of aaid Refunding Water Bonda ao to be iaaued being the sum of $4,845,000,
and the Certificate of auch determination having been heretofore duly made and entered
in and upon the record• of aaid City, as required by law: and
WBBRBAS, it ia hereby determined and declared that all of the provisions of law
have been .. t by auch refunding procedure, as hereinafter set forth, and that the
•-baa been and ia being undertaken by virtue of and in full conformity with the
conatitution and Law• of the State of Colorado, the home rule Charter of said City
of BncJl~, and 11e>re particulaJ!v, with the proviaiona of Chapter 139, Article 44,
Colorado Reviaed Statutes 1963r ·
-IT ORDADIBD BY TBB CITY COURCIL OF TBB CITY OF mGLBWOOD, COLORADO:
Section 1. !hat in accordance with aaid Statute, there shall be issued negoti-
able coupon bond• of aaid City, each to be deaignated •aefunding Water Bond, Series
1965•, in th• principal a110unt of $4,845,000, for the purpose of refundinq $5,034,000,
a greater 8llOUDt, of bonded indebtedneaa of aaid City, which the City council of the
City haa deterained to refund, aa provided herein.
-~~? ....
Section 2. '!hat the Mayor and City Clerk of aaid City be and they are hereby
authorized and directed to have prepared neqotiable coupon Refundinq Water Bonds,
deaignated Serie• 1965, of •aid City, in •aid aggreqate amount of $4,845,000.
Section 3. '!hat aaid bond• hereby authorized •hall be negotiable in form,
payable to bearer, •hall be dated September 1, 1965, ahall consist of 969 bonds in
tbe dencaination of $5,000 each, numbered 1 to 969, incluaive, shall bear interest .
payable Dec811ber 1, 1965, and aani-annually thereafter on the lat day of June and
the lat day of Decmlber each year, and shall mature aerially on December 1, as
followaa
AllOUl1T MATURITY' IllTBRBST RATB
$ 90,000 1965 .t 12'1 4~
115,000 1966 4~
120,000 1967 4~
230,000 1968 4'-
235,000 1969 4'-
245,000 1970 3 " 250,000 1971 3 " 260,000 1972 3.10%
270,000 1973 3.10%
280,000 1974 3.10%
285,000 1975 3.10%
295,000 1976 3.15%
305,000 1977 3.15%
305,000 1978 3.20%
305,000 1979 3.20%
305,000 1980 3.25%
310,000 1981 3.2.5%
315,000 1982 3.30%
325,000 1983 3.30%
Said Refunding Bond• maturing on or before December 1, 1975, shall be redeemable
at the option of the City aix month• prior to their reapective maturity dates upon
p.,..nt of par and accrued intereat, plua a pr..U.um of aix months' interest at the
rate specified in the bond or bond• being called for redemption. Refunding Bonds
.. turing on Dectlllber 1, 1976, and thereafter •hall be redeemable at the option of
the City on December 1, 1975, and on any intereat payment date thereafter, in inverse
n1111erical order, upon payment of par and accrued intereat only.
'fhe principal of and intereat on said Refunding Water Bonds, Series 1965, shall
be payable at the Pirat Rational Bank of Bnglewood, Bnglewood, Colorado, or at
Denver u. S. Rational Bank, Denver, Colorado, or at 'l'he Cleveland Trust Company,
Cleveland, Ohio, at the option of the holder or holder• thereof.
Said bond• •hall be aigned with the facsimile eignatuta!.JC)f the Mayor with a
f.caiaile of the illpreaaion of the aeal of the City affixed thereto and attested and
counteraigned by the aanual aignature of the City Clerk and Treasurer of said City.
'lhe intereat accruing on aaid bond• ahall be evidenced by interest coupons thereto
attached, bearing the facaimile signature of the City Treasurer, and when so executed,
auch coupon• •hall be binding obligation• of the City according to their import. In
addition there •hall be a certificate relating to the reqiatration of said bonds
printed thereon, which certificate •hall be aigned with the facsimile signature of the
City Clerk of •aid City and sealed with a facaimile aiqnature of the City Clerk of
•aid City and aealed with a facsimile of the impreaaion of the seal of said City,
Should any officer whoae aiqnature or f acaimile aignature appears on said bonds or
the coupon• thereto attached cease to be auch officer before delivery of the bonds
to the purchaaer, auch aignature or facsimile aignature •hall nevertheless be valid
and sufficient for all purposes.
Section 4. Said bonds and coupons to be attached thereto shall be in substantially
the following forms
STATB OP COLORADO
llo---~~~~~~
UBITBD STATBS OP AllBRICA
CITY OP mGLBllOOD
RBPUllDIBG WA'l'BR BOllD, SBRIBS 1965
COUN'l'Y OF ARAPAHOE
$5,000
'fhe City of Bnglewood, in the County of Arapahoe and State of Colorado, for value
received, hereby acknowledge• itself indebted and prcniaea to pay to the bearer hereof
the ama of
PIVB THOUSAND DOLLARS
\ I
I
in lawful money of the United States of America, on the lat day of December, 19~ I
with intereat thereon from the date hereof at the rate of 1
per centma ( %) per annum, payable December 1, 1965, and semi-annually thereafter •:
on the lat day of June and the lat day of December each year, as evidenced by interest ; .
coupon• hereto attached, both principal and intereat being payable at the First ~.
Rational Bank of Bnglewood, Englewood, Colorado, or at -------------------------------~
------------------------------------' at the option of the holder hereof, upon presen-tation of add coupons and this Bond, reapectively.
I
I
I
('1'he following clauae to appear ;in bond• maturing on or before December 1,
1975, OllLY)
'l'hia Bond i• redeemable aix month• in advance of it• atated maturity, at the
option of the City, upon payment of par and accrued intereat, plu• a premiwn of six
llODth•' intereat at the rate herein apecified.
('fhe following clauae to appear in bond• maturing on and after December 1,
1976, OllLY)
'l'hia Bond i• redeemable in advance of it• atated maturity, at the option of the
City, on Decellber 1, 1975, and on any intereat payment date thereafter, in its inverse
nmaerical order in the iaaue of which it i• one, upon payment of par and accrued
intereat only.
4l'hi• Bond ia iaaued by the City of Englewood, COlorado, for the purpose of re-
funding, rede..tng and paying lawful and valid outatanding bonded water indebtedness
of aaid City, under, by virtue of and in full conforaity with the provisions of the
Charter of •aid City and the conatitution and Lava of the State of Colorado, more
particularly being Chapter 139, Article 44, Colorado Reviaed Statutes 1963, and pur-
auant to an Ordinance duly adopted by the City Council of aaid City at lawful meet-
ing• thereof held prior to the iaauance of thi• Bond.
It ia hereby certified and recited that all act• and things required to be done
and condition• and thing• required to exiat precedent to and in the issuance of this
Bond to render the •-lawful and valid have happened, been propeJriy done and per-
formed, and did exiat in regular and due time, for11 and aanner, as required by law,
and that the total debt of •aid City, including that of thi• Bond, exceeds neither
the atatutory nor the conatitutional limitation• of the State of Colorado: that said
total debt i• not increaaed by the iaauance hereof r and that provision has been made
for the levy and collection of an annual tax on all the taxable property in said City
aufficient to pay the intereat on and principal of thia Bond when the same becane due.
4l'he full faith and credit of the City of Bnglewood, Colorado, are hereby pledged
for the punctual payment of the principal of and the intereat on this Bond.
DI WITllBSS 1111BRBOP, the City of Bnglewood, Arapahoe County, Colorado, has caused
thi• Bond to be aigned with the facaimile aignature of it• Mayor, sealed with a
f.caiaile of the illpreaaion of it• corporate aeal, atteated and countersigned by the
.. nual aignature of it• City Clerk and Treaaurer, and ha• cauaed the attached interest
coupon• to be executed with the facsimile aignature of its City Treasurer as of the
lat day of Septellber, 1965.
(PACSDIILB)
(SBAL)
AftBSTBD AllD COUll'l'BRSIG11BD1
(Do not aiqn)
C~ty Clerk anCJ Treaaurer
Bo. ____ _
{PacaUai_le Siqnature)
Mayor
(Porm of coupon)
$ ___ _
On the firat day of ~:!;i,er, 19 , unle•• the bond to which this coupon is
attllChed ha• been called for prior red.-ption, the City of Englewood, in the County
of Arapahoe and State of Colorado, will pay to bearer
______________________ DOLLARS
in lawful. 110ney of the united State• of America, at the Pirst National Bank of Englewood,
BnglM:IOOd, Colorado, or at ·
at the option of the holder hereof, being '1111 11ontha' lntereat on its Refunding
Water Bond, Seri•• 1965, dated September 1,
llo. (Pacaimile Signature)
City Treasurer
CITY CLBRJC'S CBRTIPICATB
the underaigned, 1dle duly appointed, qualified and acting Clerk of the City of
Bnglewood, Arapahoe County, Colorado, hereby certifie• that this Bond has been duly
regiatered in a book kept for that purpoae, and that the law under which this Bond
i• iaaued provide• that when ao regiatered, it• legality ahall not be open to con-
t.at by the City which haa iaaued it or any peraon or corporation in behalf of such
City for any reaaon whatever.
DI Wil•BSS WBBRBOP, I have cauaed a facaimile of my signature and a facsimile
of the official aeal of •aid City to be aff,xed at Bnglewood, Colorado, as of the lat
day of September, 1965.
(PACSDltLB)
(&BAL) (Pacaimile Signaturf!)
city Cierk
33~. ~ ....
*·.
Section 5. 'fhat aaid Refunding Water Bonda, Serie• 1965, before delivery to
th• purchaaera thereof, ahall be regiatered by the City Clerk in a book kept for
that purpoae, and aaid Clerk ia hereby inatructed to perform such registration as
a part of the dutiea of the office. Such reqiatration ahall note the principal
llllOUllt, the date of iaauance, maturitiea and rat•• of intereat of said bonds.
Section 6. Said Refunding Water Bonda, Serie• 1965, when executed and regis-
tered, aa provided by law, ahall be delivered to the purchaaer thereof, in accor-
dance with th• contract of purchaae therefor, and the proceeds derived therefrom
ahall be uaed excluaively for the purpoae recited in aaid bonda: but neither the
parcha .. r of aaid bond• nor the aubaequent holder of any of them shall be in any
way reaponaible for the application of the proceed• of aaid bonds by said City, or
any of it• officer• or employeea.
Section 7. Por the purpoae of meeting the intereat accruing on said bonds
prcmptly and a• the .... thereafter beccaea due, and for the purpose of providing
for th• ultillate payment and redemption of aaid bonda, there ahall be levied on
all th• taxable property in aaid City, in addition to all other taxes, direct an-
nual tax•• in each of the yeara 1965 to 1982, incluaive, aufficient to pay the
intereat on and principal of aaid bond• aa the .... beccae due and payable
re~tively.
Said taxea when collected ahall be depoaited in a apecial fund to be known as
•city of Bnglewood, General Obligation Refunding Water Bond Fund, Series 1965," and
auc:h Pund ahall be applied aolely to the purpoae of the payment of the interest on
and principal of aaid bonda, and for no other purpoae whatever until the indebtedness
ao contracted under thia Ordinance, both principal and interest, shall have been
fully paid, aatiafied and discharged, but nothing herein contained shall be so con-
atrued aa to prevent the City frca applying any other fund• or revenues that may be
in the City Treaaury and available for that purpoae to the payment of said interest
or principal, aa the •-e reapectively mature, and upon any auch payment, the tax
levy or leviea herein provided .. Y thereupon to that extent be diminished. The sums
herein provided to meet the intereat on aaid bond• and to diacharge the principal
thereof when due, are hereby appropriated for that purpoae, and said amounts for
each year •hall alao be included in the annual budget and the appropriation bills to
be adopted and paaaed by the City Council of aaid City in each year, respectively.
Rotwithatanding the foregoing proviaiona for tax levies, the city hereby further
covenant• and agree• to eatabliah, maintain, enforce and collect rates and charges
for water aervicea furnished by the water ayatell of the City, which rates and charges
•hall be aufficient to pay reasonable coat• of maintaining and operating said system
and prcmptly to pay the intereat on and principal of all General Obligation Refunding
Water Bonda authorized herein.
Section 8. It ahall be the duty of the City council of aaid City, annually, at
the tille and in the manner provided by law for levying other City taxes, if such action
ahall be neceaaary to effectuate the provision• of this Ordinance, to ratify and carry
out the proviaiona hereof with reference to the levying and collection of taoces: and
a~d City ahall levy, certify and collect auch taxea in the manner provided by law
for the purpoae of creating a fund for the payment of the principal of said bonds
and intereat thereon, and auch taxea, when collected, ahall be kept for and applied
only to the payment of the intereat on and principal of •aid bonds, as hereinabove
~ified.
Section 9. That the proviaiona of thia Ordinance and each of the bonds and the
intereat coupon• iaaued pursuant thereto •hall conatitute, and the same are hereby
declared to be a binding and irrevocable contract between the said City and the holder
frca ti.lie to ti.lie of each of aaid bond• and the intereat coupons thereto attached.
Section 10. The proceeds of such Refunding Water Bonds, being an amount of not
le•• than $4,845,000, ahall be depoaited by the City in a apecial fund and separate
truat account, deaignated aa the •city of Bnglewood, Refunding Water Bond Escrow
Account 1965• (herein ac::metimea referred to aa the •aefunding Escrow Account"), said
Account to be eatabliahed and maintained at the Pirat Rational Bank of Englewood,
Bnglewood, Colorado, a cC111Dercial bank duly organized and existing under the Laws of
th• united State• of America, being a IDelllber of the Federal Deposit Insurance corpora-
tion, having full and caaplete truat powera (hereinafter sometimes ref erred to as
the •BanJt•).
4fhe accrued intereat, if any, on aaid Refunding Water Bonds, Series 1965, fran
their date to the date of iaauance and delivery thereof ahall be deposited at the
office of the City Treaaurer in the Bond and Intereat Fund of said city.
!'he accrued intereat, if any, on the outatanding Water Bonds to be refunded, from
the laat intereat payment date on each of aaid iaauea to the date of delivery of the
.. funding Water Bonda, Serie• 1965, ahall be depoaited by the City with the Bank
in aaid Refunding Baer~ Account.
Section 11. Said Refunding Bacrow Account, including therein the proceeds of the
Refunding Water Bonda, Serie• 1965, and the accrued intereat on the Outstanding Water
Bonda, aa referred to above, when inveated by the Bank, will at all times be at leaat
auf f icient to pay the intereat on and principal of the outstanding Water Bonds of the
City being refunded, under and in accordance with the following abhedule:
(A) OUtatanding Bonda of the following iaauea, maturing and numbered as indicated
below, •hall be paid and retired at their reapective maturity dates according to
their original teraas
I
I
:I.·.·.·
'1
~1
I
I
Iaaue
Bond• 1948
Bonda 1950
Bonda 1951
Bonda 1953
Bonda 1956
Bonda 1957
Bonda 1960
Bonda 1961
Bonda 1962
Bonda &umbered Maturities
782, to 816, 852 to 887, 924 flo 960, 1965 to 1975, incl.
998 to 1036, 1075 to 1114, 1155 to
1195, 1237 to 1278, 1322 to 1365, 1410
to 1454, and 1500 to 1546, all number•
incluaive
378 to 793, incl. 1965 to 1974, incl.
184 to 340, incl. 347 to 356, incl.
372 to 381, incl.
137 to 150, incl.
326 to 530, incl.
211 to 325, incl.
106 to 690, incl.
41 to 275, incl.
101 to 325, incl.
1965 to 1974, incl.
1965 to 1967, incl.
1968 to 1974, incl ."
1965 to 1968, incl.
1966 to 1974, incl.
1965 to 1971, incl.
1965 to 1973, incl.
Bonda 1954 and 1955 all mature aubaequent to the Prior Redemption Dates there-
for and ahall all be red ... ed in advance of maturity.
(8) OUtatanding Bonda of the following iaauea, maturing and numbered as indicated
below, ahall be called for redemption prior to their reapective maturities and shall
be paid on the Prior Redemption Date• a• followa1
· Iaaue
Bonda 1948
Bond• 1950
Bonda 1951
Bonda 1954
Bonda 1955
Bonda 1956
Bond• 1960
Bonda 1962
Bonda 11\mbered
1594 to 1642, 1691
to 1740, 1791 to
1841 and 1894 to
1947, all number•
incluaive
794 to 1000,incl.
397 to 406, 423 to
432,449 to 45'1 ' and
475 to 484, all
numbers inclusive
851 to 1000,incl.
626 to 850, incl.
531 to 625,incl.
691 to 1000, incl.
326 to 1750, incl.
Maturi tie•
Prior Redemption Date
and Price
1975 ~b 1978, incl.
1975 to 1978, incl.
1975 tb 1978, incl.
1980
1977 to 1979, incl.
1975 to 1977, incl.
1975 to 1977, incl.
1974 to 1987, incl.
Dec. 1, 1974
Par
Dec. 1, 1974
Par
Dec. 1, 1974
Par
Dec. 1, 1974
Par
Dec. 1, 1974
Par
Dec. 1, 1974 -+..
Par
Mar. 1, 1974
Par
May 1, 1974
Par
Bonda 1953, 1957 and 1961 are not to be redeemed in advance
of their reapective .. turitiea, but ahall all be allowed to mature in due course.
(C) Intereat on aaid OUtatanding Water Bonda which mature• subsequent to the
date hereof, ahall be paid aemi-annually each year aa the aame accrues according to
the original teraa of aaid bond• until aaid bond• mature or until the proper Prior
Rad911ption Date, whichever ia the earlier date in each caae.
Section 12. 'fhe Bank •hall inveat the fund• on depoait in the Refunding Escrow
Account in direct obligation• of the United State• of America ORLY, and shall fully
aecure any caah balance in aaid Account in the manner required by law for other
truat funda.
Section 13. If, for any reaaon, at any time, the fund• on hand in such Refunding
Bacrow Account •hall be inaufficient to ... t auch payment•, as the same shall be
about to beco•• due and payable, the City •hall forthwith depoait in such Refunding
Bacrow Account auch additional fund• aa may be required fully to meet the amount so
about to becc:m• due and payable.
Section 14. 'the Bank ahall frCll tiae to time red•-all or a portion of the
direct United State• obligation• in aaid Refunding Bacrow Account, in sufficient
amount• ao that the proceed• therefrom and the intereat thereon a• the same accrue,
will be auf f icient to ... t the intereat requir ... nta on the Outatanding Water Bonda
aa auch intereat accrue• and to pay or call in and redeem aaid bonds at their reapec-
ti ve .. turitiea or on the proper Prior Redemption Date, according to the schedule
hereinabove aet forth
~ -:Hi ..
•••• . : . :K2
Section 15. 'file Mayor and the City Clerk and Trea•urer 8hall, and they are
hereby authorized and directed to take all nec•••ary or appropriate action toward the
execution of a proper B.crow Agr-nt with the Bank concerninq the deposits in, invea-
t:llent• of and di8bur• ... nt• frc:111 •aid Refundin9 B.crow Account, and other such
aqr ... ent• a• .. y be nece••ary or de•irabl• to effectuate the provisions of this
Re80lution and ccaply with the requir ... nt• of law.
Section 16. 'l'he City Clerk i• hereby authorised and directed, and he shall
9ive notice of prior red .. ption and refundinq of •aid OUt•tanding Bonds in the man-
ner required by law at the time of •uch refunding and aC)ain before the Prior Redemp-
tion Date herein ••tabli•hed. Vnl••• additional and more exten•ive notice is required
by law, the llotice •hall be qiven by publication in th• new•paper published in the
City, or, if there be no •uch new•paper, then in •C11e new•paper published in the
county in which the City i• located, and which new•paper i• cu•tanarily used by
•aid City for legal Botice•, and in a new•paper of 9eneral circulat~on in the City
of Denver, Colorado. At the time of •uch refunding •aid Botice •hall be published
one time in each of •aid new•paper• at or about the date on which the Refunding
Water Bond• are i••ued and delivered. 'the Botice •hall aqain be published before
e.:h of the Prior Red .. ption Date•, in •uch new•paper•, by in•ertion in at least one
edition of each new•paper, •uch publications to be not le•• than thirty (30) days
before each •aid Prior Red .. ption Date. Said llotice •hall contain all the details
required by law, and au•t adequately de•cribe the bond• to be called and redeemed,
the date on which the .... will occur and •hall •tate that after the date for pay-
ment and redemption, inter•t on •aid bond• will cea•e.
In addition to the Botice hereinabove •pecified, Botice •hall be qiven to the
followinq by certified or reqi•tered mail not le•• than 30 day• before lach of said
Prior Red .. ption Date•1
Pira
United California Bank
Boettcher and Ccapany
Peter•, Writer, Chriaten•en, Inc.
Coughlin and Ccapany
Denver Con80lidated Bond Call
Pre•ent Addre•s
600 South Sprinq Street
Lo• An9ele•, California
828 Seventeenth Street
Denver, Colorado
c/o Pranci• I dePont & co.
724 Seventeenth Street
Denver, Colorado
1200 Pir•t Rational Bank Bldg.
Denver, Colorado
c/o P~anci• I duPont & co.
724 Seventeenth Street
Denver, Colorado
Section 17. '!'here are hereby appropriated and •et a•ide from any available fund
or fund• of the City, the a110unt or B110unt• nece••ary to pay all coats and expenses
incident to the i••uance of •aid Refundin9 Water Bond•, Series 1965, including,
but not being limited to, publication, a.crow bank, printinq, leqal, accountinq and
fi.cal agent expen•e•.
Section 18. If any court of competent juri•diction •hould ever determine that
any part of thi• Ordinance i• invalid or unenforceable, •uch determination shall not
affect the r ... ininq part• hereof, the intention beinq to make the provisions herein
•verable.
Section 19. 'fhat after •aid Refundinq Water Bond• are issued this Ordinance
8hall not be altered er repealed until the bond• hereby authorized shall have been
fully paid, a• to both principal and intere•t.
Section 20. '!'hat all ordinances, or re•olution•, or part• thereof, in conflict
with the provi•ion• hereof, be and the .... are hereby repealed.
Section 21. 'l'hi• Ordinance •hall be ... nded to include the specific interest
rate• mid alternate paying agent a• the .... are ••tabliahed at the public sale of
8'1Ch Refunding Water Bond•, Series 1965, at a meeting to be held on Monday, August
23, 1965, at or about 8100 o'clock P.M.
A Public Bearin9 on thi• Ordinance, a• mnended, •hall .be held in the Council
Chllllber• in the City Ball on Tue8day, the 7th day of September, 1965, at or about
the hour of 8100 o'clock P.M., and Botice of •uch Bearinq is hereby authorized to
be 9iven by the publication in rite Bn9lewood Herald a new•paper published and of
9eneral circulation in •aid City, in its i••ue of Auquat 26, 1965.
Section 22. '1'hi• ordinance •hall take effect thirty (30) days after publication
followinq final pa••aqe.
Section 23. '1'hi• Ordinance, inlllediately upon it• final pa••aqe, shall be
recorded in the Book of Ordinance• of said City kept for that purpose, authentica-
ted by the •i9ft8ture• of the Mayor and City Clerk,and •hall be published in the
Bn9lelf00d Herald, a new•paper of 9eneral circulation in said City.
I
.I .,
RBAD, as a Bill this 25th day of August, 1965
PTJIAt.r.y ADOPTBD AllD APPROVBD, aa amended, this 7th day of September, 1965.
Mayor Pro Tem
AiiB8'1'1
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