HomeMy WebLinkAbout1954 Ordinance No. 015BY A U TH O RI TY
0 R I D A N C E NO . 15 ~ ~ ~ _! ~ ~ OF .•.1954.
AN OR DINANC E TO CONTRACT AN INDEBTEDNESS ON BEHALF OF THE CITY OF ENGIE WOOD, COLORADO
AND UPON THE CR EDIT THEREOF BY USS UI NG BON IB OF SAID CITY IN THE PRINCIPAL SUM OF
1,000,000 .00 , FOR THE IMPROVEMMT AN T) EX TENS ION OF ITS WAT ERWORKS SYST EM , PRESCRIBING
HE FORM OF SAin BONDS , PROVID IN G FOR THE LEVY OF TAXES TO PA Y THE BONDS AND THE
Il'TERES T THEREON , P.ND DE CLA RING AN EMERGENC Y.
WHE~EAS , t he City of En gl ew oo d has cons tructe d a nd now owns, operates and maintains
a s ystem of wa terworks f or the purp ose of s upp lying the City a nd its inhabijants with
wate r f or fire a nd domestic purpos e s ; a nd
EREAS , it i s nec essary to increase th e water supply and extend and i mprove said
wa terworks s yste m in or de r to supply the sai d Cit y and the inhabitants thereof with
a p rope r and adequate supply of wa t e r ; and
WHEREA S , there a re no t suffic ient funds i n the treasury of said City to provide for
s a i d wat er supply a nd the nec e ssa ry extensions a nd i mprovements to said waterworks :
syst em , a nd the City Coun cil de ems it advisa ble and necessary to issue negotiable
bonds of s aid City for that purpose:
THE REFOR E, BE IT ORDA IN ED Hi THE CITY COUN CIL OF THE CITY OF ENGLEWO OD, IN THE
COUNT Y OF ARA PA HOE , COLO R.A DO:
Section 1 . That for t he purp os e of providing funds for supplying water and t he
exte n s ion an d improv emen t of t he ~glew ood waterworks system, the City shall issue
n e gotia ble coupon bonds in t he princ i pal sum of $1,000,000, payable in lawful money
of the Un ited S tates of Ameri ca, consistin g of 1 1 000 bonds in the denomination of
1 ,000 ea c h , numb ered l to 1 1 000, inclusive, bearing interest payable sem-annually
on the 1st day of J un e and the 1st day of December e a ch year, as evidenced by
interest coup ons atta ched to s a id b onds. Said bonds sha ll mature on December 1st,
a s f ol lows :
Amount Maturity
20 ,000 1 955 to 1963, inc.
30 ,000 1964 to 1972 , i n c .
40 ,000 1973 to 19 77, inc.
so,ooo 1 978
1 50 ,000 1979 and 1980
'1 50 ,000 of s a id bonds matur i nr, in the year 19 80, shall be redeemable at the option
of t he City on J une 1 , 1969 and on any interes t payment date thereafter in inverse
num erica l order . Said $150 ,000 of b on ds ma turing in the year 1980 shall be dated
June 1 , 1 954 , and shal l bear i n t e rest at t he rate of 3% per annum. The remaining
bonds of t he i ssue sha l l be dated , bear suc h rate of interest and be redeemable as
provided by a Resolution or Resolut i ons t o be adopted by the City Council. Said
bonds and Lhe coup ons th e reto attac hed shall be pa yable a t the office of the City
Clerk an d Ex -0f f icio City 'I'rea s urer in Englewo od , Colora do, shalll::e signed oy the
Mayor o f sa id City and a t t es ted and c ount ersigned by the City Clerk and Ex-Officio
Ci t y Treasurer, under the of fic i al seal of s a id Ci ty, and shall be recorded in a
book t o te kept by said Cit y Cl erk f or that purpose. All coupons sha ll be a r the
facsimile sienature of the Cit y Clerk and l.x-officio City Treasurer of said City.
Section 2 . f hat the s a id b onds an d the coupons a t tached thereto shall be in
subs tant ially t he fo l lowing f orm :
No .------
UNIT ED STATES OF AMER I CA
STATE OF CO LORADO
COUN TY OF ARAPAHOE
CITY OF ENGLEWO OD
WATER EXTENS IO N BOND
$1,000
The City of Enc lewood , in the County of Arapahoe and Sta te of ~olorado, acknowledges
its selft indebt e d a nd here-by promi ses to pay to t he bearer he r eof the sum of
ONE THOUSAND DOLIA RS
on the 1st day of Decembe r, A.D. 19 , wi th interest thereon at the rate of
percentum ( %) pe r a nnum, payable semi-annua l ly on the 1st day of June and~
t he 1s t day of December easc h y e ar , b oth pr i ncipal and interest being p a~able in
lawful money of t ~e Un ited States of Ame r ica, at the office of the City lerk and
Cit y Ex -0ffic i o City Trea s ure r in Ene lewo od, Colorado.
(The f ollowing pa r a grap h shall be inse rted in bonds maturing in the yea r 1980).
h i s bond is r edeemable at the op tion of t he City on June 1, 1969 a nd on interest
payment da tes t he r eafter, in i ts i nverse nume rical order in t h e issue of which it
is one .
This bond is ussued by the City ~ounc il of the City of ~lewood, Colorado,
for t he purpose of supplying the City and it inhabitants with water and extending
and improving it waterworks system under the authority of ~ad in full conformity
with the Constitution of the State of Colorado, the provisions of Chapter 163,
Colorado Statutes Annotated, 1935, and all other laws therel.D'lto enabling, and
pursuant to an ordinance of said City duly a dopted, publi shed and ma.de a law of
s a id City prior to the issuance of t his bond.
It is hereby certified and recited tha t all the requirements of law have been
fully complied with by the proper officers of said City in the issuance of
this bond; that the total debt of the City, including tha t of this bond, does not
exceed any limit of indebtedness prescribed by the Constitution or laws of the State
of Colorado, and that provision has be en made for the levy and collection of annual
taxes sufficient to pay the intere st on and principal of this bond when the same
become due a nd payable.
The full faith and credit of the City of ~glewood, Colorado, are hereby pledged for
the punctual payment of the principal of and interest on this bond.
IN TES TIMONY WHERE OF , the City Council of the City of Englewood, Colorado, has caused
this bond to be signed by the Mayor of said City, sealed with the seal of the City,
attested and countersigned by the City Clerk a nd Ex-officio City Tre a surer, and
the coupons hereto attached to be signed with the facsimile signature of the City
Clerk and Ex-Officio City Treasurer, as of the 1st day of June, A.D. 1954.
(SEAL)
ATTESTED AND COUNTERSIGNED :
Citi-CTe rlC-and Ex -Of ficio City Tre asur er
(Form of Coupon)
No ., ____ _
June,
$ ___ _
IA 1 .. (.~0. ~A/1
On the first day of December , A.D. 19 ,• (unless the bond to which this
coupon is a t tached has been called for prior redemption) the City of Englewood,
in the County of Arapahoe and State of Colorado, will pay to bearer
DOLLARS in lawful money of the United States of America, at the off~c-e~o-f ......... th ... e--c-1-ty-
Clerk and Ex-officio City Treasurer in Englew ood, Colorado, being six months'
interest in its Water Extension Bond dated June 11 1954, bearing No.
(Facsimile Signature) ~------
City Clerk and Ex-Officio
City Treasure~
•(This clause shallte inserted in coupons maturing December l, 1969 and thereafter,
a ttached to bonds maturing in the year 1980 ).
Section 3 . When said bonds have been duly executed, the City Clerk shall, from
ti.me to time, deliver sain b onds to the purchasers thereof on receipt of the agreed
purchase price. The proceeds of said bonds shall be used for the purpose of
supplying the City with water and extending and improving the waterworks system of
said City, and for no other purpose whatever, but nerither the purchasers of said
bonds nor the subsquent holder of any of them shall be responsible for the application
or disposal by the City, or any of its officers of any of the funds derived from the
sale thereof.
Section 4 . The interest due Deceanber 1, 1954 on any of said bonds issued shall be
advanced from any fund in the City ava ilabe therefor. For the pupose of reimbursing
such fund and meeting the interest accruing on said bonds promptly and as the same
·· b e COJOllS ~due,. anQ for the purpose of providing for the ultimate payment and redemption
of said bonds to be issued there shall be levied on all the taxable property in said
Ci~¥' in a ddition to all other taxes, direct annual taxes in each of the ye a rs
1954 t o 1919, inclusive, sufficient to make such reimbursement and pay such iriterest
and principal as the same become due and payable, respectively• Said ta1Ees, when
collected, sha ll be depo s ited in a special fund to be known as "City of Englewood
ater Extension Bond Fund , 1954"' and such fund shall be applied solely to the
purpose of the payment of the interest on and principal of said bonds, and for no
other purpose wh atever until the indebtedness so contracted under the Ordinance,
bothe principal and interest, shall have been fully paid, satisfied and discharged·,
but nothing herein contained shall be so construed as to prevent said City from
applying any other funds or revenues that may be in the City Treasury and available
for that purpose, to the payment of said interest or principal, as the same
respectively mature , and upon any such payments, the levy or levies herein provided
thereupon to tha t extent be diainished. The sums herein provided to meet the
interest on s a id bonds and to discharge the principal thereof when due, a re hereby
appropriat ed for that purpose, and said amoun ts for e a ch year shall also be
included in the annual budget and the appropriation bills to be adopted and passed
by the City Council of said City, in each year, respectively.
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Se c tion 5. It shall be t he duty of t he Ci ty Council of said City, annually, at the .
ttme and in the manner provide d by l aw f or levying other City taxes, if such action
shall be necessary t o e ffec t uate the provis i ons of the Ordinance, to ratify and carry
out the provisions hereof with r e f erence t o the levying and collection of taxes; and
said City shall levy, c e r t ify an d collect such taxes in the manner provided by law
for the purpose of creating a f und for the payment of the principal of said bonds and
interest thereon, and such taxes, when c ollected, shall be kept for and applied only
to the payment of the interest on and principal of said bonds, as hereinabove specified.
Sec tion 6 . All ordinances or pa rts t he r eof, in conflict with this Ordinance, are
here by repealed .
Section 7• After said bonds are issue d, t his Ordinance shalll:e and remain irrepealable
until said bonds and the i nterest t he r eon sahll have been fully paid, satisfied and
di.s c harged .
Section 8. Thsi Urdinan ce, imme diatel y on its passa ge, shalll. be recorded in the Book
of 0 rdlnances kept f or that purpose, s uthenticated by the signatures of the Mayor and
Clerk , and shall be published a s r e quired by law.
Sec tion 9 . By reason of the fact that s aid improvements and extensions are
LliPerativelY needed in order tha t t he Cit y and its inhabitants may be properly and
adequately supplied with wa t er, it is hereby declared that an emergency exists, that
this Ordinance is necessar y t o the immediat e preservation of the public peace, health,
and safety, and it shall be in full f orce and e f fect five days after its final
publication .
Introduced this 3rd day of Aug ust A .n. 19.54 .
Finally passed & ordered published t his 7th day of September 19.54.
Seal!
c:
First Publication, August 12 1 19 54
La s t Publication, August 19, 1954
Publication in the Engl ewoo d Press.
I , J . L. Barron, City Clerk of the City of En gl ewood, Colora do do hereby certify
that the above foregoing vrdinanc e wa s introduced and read in full and on resolution
was ordered published as r r op os e d Ordinanc e for the meeting August 31 1954, held
by the City Council en s aid da t e a n d same wa s published August 121 and August 19,
1954 , in the ~lewood Press an d f or mo re t han ten days therea fter and at a subsquent
meeting of the City Co tmc il he l d September 7, 1954~ n AN ORDINANCE TO CONTRACT AN
IND EB TE DNESS ON BEHALF OF TH E CITY OF ENGLEWOOD,COLORADO, AND UPON THE CRE DIT THEREOF
BY ISSUING BOODS OF SAI D CITY DI THE PRilIC IPAL SUM OF $ l,000,000, FOR THE IMPROVEMENT
AND EXYE ~·1S IOO OF TI'S WATERWORKS SYS TEM , PRESC RIBillG THE FORM OF SAID BONDS, PROVIDING
FOR THE LEVY OF TAXES TO PAY TIE BONOO AND THE IN TERES T THERE ON, AN D DECLA RING AN
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