HomeMy WebLinkAbout1952 Ordinance No. 014BI ~U T]!O R l!!
O R g l ll ~ TI C ~ 11 o. 14 .§. ~ ~ I. E .§. .Q ! filg
All ORDI )lA~i CE AU'!'RORIZING THE ISSUANCE OF SEWli!R REV'.ElruE :BONDS OF THE CITY OF
GLE\lOOD, COLORADO, IN T:!E PRIUCIPAL AMOUUT OF $72.5, 000, PRESCRIBING THE EOIU·1 AND
PROVIDING FOR THE PArolr'!' OF SAID BONDS AND TH£ INTEREST THER£01'T, AlID DECLARING AN
EMI:RGSNCY.
W'ff.~0~S, the City of En e l c\,·ood , Ar llp ."'.hce County, Colorado, maintains and operates a
collectin& or gathering s::tni t n ry se,·c r s~·~te r:: CO'!'lT'lecti ng ....-i th the sewer anC. sew a ge disposal
<1v~te:n of the City and Co i.mty of De nv e r, Color ad o; a nd
WHEREAS, the City Council of s nid City con sider s it neces t ~y and l:l.dvinable and to
he be~t int Pre~t s of s:\id City a nd it~ inh ~bitnnts to construct a nd aCQUire it s own sew nge
disposal pln..nt , und e-the r rovisilin!'.i of Chap ter 244 , Ses s ion Law '3 of Colorad o, 19/.i-9, (Sections
(1) to 41(4 ) inclusiv e , Cr.~pter 16J, Col~ra.do St a tutes Annotated 1935), and all other laws of
the St '1 t!' of Color<>do thereunto enr.bling; and
'iiRI3EA5, i n order to meet the cost of said sewage disposal plant the City Council has
determi:ied to a:.ithoriz(.. issue ond sell Se ,\er Revenue Bonds of the City in an amount not exceeding
725,000, pO\Y'able, both principal a nd inter e'3 t, so lely out of the net revenues to be derived from
the oper a ti '>n of its se.,.•er s;it::;tem ;
UOW, TU'ER£FOLU;, 3::: IT ORDAIN"'"..:.:D :9Y THZ CITY COUNCIL OF THE CITY OF ENGLE WOOD, ARAPAHOE
COUUTY, COLORADO:
SiCT!OU 1.
That for the purpo :;e o~ constructing and acquiring a sew a ge disposa l plant, in-
cluC.ine ?!la.ins, l n.t ~r[:\lc;. 1-mds, ri eh t -:; of wn.y , rind n.1 1 :r:ccessn.ry or appropriate machinery,
equipment, arrurtenance s and incidentals , nnd to pay the co s t the reof and to provide
the funds her 0 1n:1.ft e r ~r>eci fi cd , ther •1 ar e hF!reby au thorized Se•tJe r Rev e nue :9ond~ of the
City of Enel ew ood in n.n amount no t to exceed $725,000, both the principal thereof and the
interest thereon to be p ~y~b le solely and only out of the net revenue to be derived by
the City fron ~nd throueh the oper '1.tion of said system.
SECTION 2 .
That s :•i d. 'hrynds hereby autho ri zed sh a ll be d..-'1.ted October 1, 1952, shall be in the
denomi nut ion of $1, 000 e:.1.ch, shall b e paya ble to bearer as her e inbelow set forth, and
shall be ~r intere ~t, p:iy e ble semi-annually on the first day of April and the first day
of Octob er ea ch y ~a r, a nd shnll h nvP co upon~ att ~ched thereto, signed with the facsimile
sign:i t ure of the City ClPrk, e x-offici o City Tr e'l.surer, evidencing s a id int ere s t. Sc.id
bonds sh.c"\ll be siexied by the Mayor, \Vi th the s e.'..11 of the City thereto aff1':ed, attested
by the City Cl~rY., ey-ryfficio City Tr e;~s ur c r. Both principnl of and intere s t on said
bonds shAll be payable in lawful ooney of the United St a t e ~ of America at the office of
the City Clerk, ex-officio Cit y Tren.surer, in Engl ew ood, Colorado. Sn.id bonds shall be
numb ered c~ns ecutively from 1 to 7 25 , incl~s ive, shnll mature on October 1 1 and shall
bear intere~t, as follows:
Amount Interest
$10,000 1954 to 1956, inclusive 2 3/4'/o_
10,000 1957 J ~
15,000 19 58 3 ~
16,ooo 1959 J ~
16,000 1960 J l~ 17,000 1961 1.nd 1962 J i 4e
18,000 1963 a nd 1964 J 1/2~
19,000 1965 and 1966 J 1/2~
21,000 1967 nnd 1968 3 1/2~
22,000 1969 3 1/2~
23 ,000 1970 nnd 19 71 J 1/2~
'>4 ,000 1972 J l/2-~
,000 1973 and 1 9 74 3 1/2~
27 ,000 197.5 3 1/2%
28 ,000 1976 and 1977 J l /2fa_
J0 ,000 1 9 78 J 1/2%
1,000 1979 J 1/2%_
32 ,000 1980 J 1/2~
JJ,000 1981 J 1/2~
5,000 1 982 J 1/2~
100,000 1983 J 1/2~
Bonds maturing in the y~n.rs 1963 and there ~.fter shall be redeemable at the option
of the City on Octob e r 1, 1962 , a nd on nny subse~uent interest payment d a te prior to
maturity upon pny:.ient of par, l\CCI"lted interest and premiums as follows:
If redeemed on Octob e r 1, 1962 , to A~ri1 l , 1967,
inclusive, 4~ of principal;
If redee~e d on October l, 1967, to April 1, 1972,
inclusive, )~ of principcl;
If redeemed on Octnber 1, 1972, to April 1, 1983,
lnclusivc, 2% of principal.
I! the City sh.~11 elect to r ed eem any part or all of said bond s , prior to maturity,
notice thereof shall be given by publishing a notice in a newffapcr of eeneral circulation
in s~id City, and in a newspaper of general clrculatton in Denver, Colorado.
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Such y,::.'')lic n tion ~ sh.r'.ll occur not less tha:1 thirty (JC ) .iays nor more
':w.n :ort;,· (!""o ) d.u.ys prior to the T ime fixed for t..'1e r ede mption u.'1d payment
of sucl: :onds . Cop ies of ull such p ublished notices shall be o a.iled by the
Clerk of ~.he Ci t:.· to th e or i ci r.<.u pu:-ch~ser of s a.iC. boncls .
s:cri:iou ...
Sn.i d S e'1c r Revenu ~ :So:i.ds rnd the int c rc $t co u~ons thereto o.tt::i chod,
cllo.11 be in sub c;tcn~icll~,r the followine forr.i, to-wit:
STAT!: OF COLORADO
1ro . ___ _
UlTITlW STATES OF AMERICA
CITY OF EMGLE \l OOD
m!WER REVElroE EOllD
COUUTY OF ARAPAHOi
$1,000
The Cit y o f £ne l e,1 ood , i n the County o f Ar t~pnhoe and St a te of Colora do,
for value r e ceived, hereby promise ~ to pay to the bea rer hereof, out of the
specin.l fund hereinaft e r desi~nn.t ed , but net othe rwi se , the sum of
ONE THOUSAUD DOLLARS
in l:iw:ful nonc;r of th P. United Sta t es of Am e rica , on the fir s t d n y of October.
A. D. l?~~' with interest thereon from d nte until pcid at the rate of~~-
_____ _p_. er centum ( %) per a nnum, puy a ble semi-annually on the first
day of h:'l'il ~mil the fir z t daj' of October each year, both princi p al o.nd interest
being payn ble at the office of the Ci ty Clerk, ex-officio City Treasurer, in
Enf'J ewood , Col o-r a do , upon :presentat ion and surrender of the annex coupons and
tr.!. s bo!1c as thc~r sev c rnlly become due .
(Rccleeo:•r ilc clnuse to be insert ed in bo!lds due in t h e years 1963 to 1967,
tn c lusivc.)
':'hi s bor.d i ::; rcd c cr:::L"u l e n.t the option of the Cit:,• o n October 1, 1962, and
on any int erc~t pn.:ne!lt d~te ther ex:'t er , ?rior to nn.t ur ity. ~ni t s inv ers e
.• "J.."':ericnl c,.rlcr i n thP-i s sue of wh:i ch it is one . u t pn.r , ac crued inter es t n.nd a
yi reniun of 4~ of }1rinci:!!nl .
(!tcdecrl:ible cl."'.use to be inserted in bo'."1~!:; Jue i n t he year 1968 to 1972,
inclusive.)
his bond is r edeeonble nt the op tion of the City on October 1, 1962, and
on a:-iy interc~t payment i~te theren ftcr, p rior to rn:iturity, in it s invers e numerical
order in the i esue of whi ch it i s one, at par, accru ed i ntere s t and a preilium of
~~of princinal if red eco~d on October 1, 1962, to April 1, 1967, inclusive,
~nd at )fa of principal if red e emed on October 1, 1967, to Apri l 1, 1972, inclusive.
(Rcde c m:ib lc cl ~use to be inserted in bond s due in the yen r s 1973 to 198),
inclusive .)
':'hi ~ ~~"~ :~ redeeoable at the opti on of the City on Octob e r 1, 1962, and
on any int e re~t pnyr.ient d n t e thereaft P.r, prior to ma t u rity, in its inve rse numerical
order in the i~sue of which it is o ne , a t pnr , a ccrued interest and a premium of
~ of principal if rcneemed. on Octo b e r 1, 1962, to April 1, 1967, inclusive, at
J~ of princir nl. if r edeemed on Octobe r 1, 1967, to April 1, 1972, inclusive, and at
2~ o f p rincipa l if redeemed on Oc tob e r 1, 1972, to Ap ril 1, l98J, inclusive.
Thi s bond is issued b;r the City of Engl e\1 o od for the purpose of constructing
nnd ac ~u.irine a sewaee disposril plant for said City and it s inhabi tants, all in
conformity with ~nn.p t e r 241;, Sess ion Law s of Colorado , 1949, (Sections 27(1) to
41(4), inclu 3 ivc. Ch ~~ter 16J, Colorruio St ~tut es Annot n ted, 19J5), and all other
l av3 o f the Stn tc of Color.'ldo there'l.!..'l"l.to enabling a.'ld a n Ordinance of the City duly
ena ct ed ~d nc,.o~>tcd prior to the i ssunnce hereof, n nd b oth th e :p rinci:po.l of this
b ond a r ..G. the interc:s t :io:-e on ;..re p a :rnble s olely out of ~ spe ci c.l fund created in
-'ull co~fo::T.t!. t;>-• \·:i t h l .·~w n.nd d.esi:,n r~ted the "SeweT Reve nue :Bond Fund 11 of s n id
Cit~· .:1.£ ! rovi decl in s·'id Or d in:'.ncc . Thi s b o~d. do C!:; not con stitute a debt of the
Ci tv of tnc l ct•ooC.. ui t:1in the ncr .. ninc of :i ny co ns ti tutionnl o r s t a tutory limi t a ti on.
It .i s h ereby certified , recit e d :_i.nd '·'·>.rrnn t i::cl that for the :rm ymcnt of this
b ond. the Cit ;;.· of :S~cl 0 • ·"od :-1as cr c ~t ed n.."1cl will ma int n ir. s r ... id Fu."1cl and will deposit
therein , out ~f the rev enue of it s s ewe r sys t em, the nnount s r.nd rcver.ue specified
ir: ~·~!d Ordinan ce, n.nd 'mt of s a id :E\md and n.s D.!l irrev oc n.b l e c haree the reon will
puy this bond r..'1.d the ir.tcr f's t hereo n , !n t.'lte r:umner pr c viclcd by snid Ordinance.
It is further ,..eci ted and certi fied tha t :ill r eo_uirecents of l aw and all
c ~nditions p receden t h~ve been fully cor.xplied with b y th e prorer officers of said
City in the iz ~u..~nce of thi ~ b ond .
Ill T~STI MOl'fY \-.iI:s?XO:F, the City of Englewood , Colorndo. has c a used this
"t>o nd to b e-sio:.ed b ~, it s 1'layo1·, se[l.l ed with the s t:al of th e City , att es ted by
1 ts Clerk , :;.x-Officio Cit ;.· ':'rensure r, a nd the intcres t c oupons h ere to annexed
to be ~igned wi t".1 the f a c si:Jile sipiio. tin·c of it s Ci t~r Cl e rk, Ex-Officio City
Tr ~as ur e r. ns of the fir ~t ~ny of O ctob ~r. A. D. l~)~.
( S E A L ) ~_/ ~r 2:;:;;J
AT':':3T:
~...._
Ci City
ig
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(ForI!l of Coupon )
ti• no·~--
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Anril
On the fir'" t d:iy of O r.to b~r . A . D . 1 9_, •(unless the bond to which
t~is coupon is o.tt:l.chcd hn.s b een cnllec_ :"or p :-i 0r rc<.lcr.lp tion) th e City of
Encl cwnod , in th0 County of Ar •p:1J10e a ncl Gt ~t t c of Color o.d o, will pay to t h e
ben.rer hcrco!'
~~~~~~--~~~-~~~~~~DOLLARS
in l awful i:v:mey of the United S t a tes of Am e rica, a t the office of the City
Cl erk, ZA-Of~icio Ci t y Tre~n ur cr , in En elewo0d , Colorn do, out of the Sewer
Revenue Bond Fune!. of S:lid Cit y , ·ei.1t not o t herwise, being s ix mon ths' int e rest
on its Sc~!c r Revenue Bor.d dat ed Oct 0b'3r 1, 1 952 , benr ine
"·-----(Jacsi_mj._le Sie:na tu:re)
City Clerk, Ex-Officio City
Treasurer
•(This cl~use to app e c r in c oup on s naturi n g on April 1, 196), and therea fter.)
SECTI Oll 4 .
Sale bonds fil!~l ~0 issued and sold for c a sh at not les s than par, solely to
rovide the City with moneys for the purp~s e of provi di ng a Re se rv e Fund, for paying
intcre~t on said bomls to a nd includ i ng Ap ril 1. 1954, ruid for the purpose~ herein
~pccificd. The is~u:l..nce of s~id bonds by the City shnl l con9titut e a warra nty by
o.nd on b e h~lf of th e City fo r th e bc::i c fi t of en.c h a.!1d cv0 ry hold e r of ~a icl bonds,
th"\.t s:-.i d bone!> h'\V '? n i;c:i i ssncd for ;.... v:-lua ble con s ider ~ti on in f u11 conformity
with the l n '.r •
... e -principol nf :u1cl intcr e!:'.t <'n said bonds shell be pcyable out of the Sewer
~evenue Eom".. Fund spA ci fied in t:U. s Ordipa nce. The t 8 rm 11 s euer syster.i 11 as herein u~ed,
slk'lll include not o r_l~· the !'rl')_rcr t y conpri sine snid sci1er sys ten D.t the :pre s ent time,
but all [',d\1..i tions a nd bctt ~rmcnt r t he::.--e to a r .d imr:-ov c.'::en t s c..nd e~te!'l.si ans hereaft e r
co:1st::-'1 ct c d or n.c c,_uircC. by ~:-ie City.
®CTIOlf 6.
·~11 of ~le incor.ie c.nd rcvcr..ue to be derived by the Cit ~· from t he oper a ti on of
it s o~c r n ti'in of it s scuer syster.i s~ll b e dep osited in a fund to be kept separ a te
and apart from o.11 o t her funC.~ of the City. Such income revenue shall be known as
:l.nd terned the 11 {;ross r evenue " of said sewer s ys tem n.nd such revenue is hereby irrevo-
cably pledged for the followinc purpo ses a nd sha ll be accumul~ted a nd disbursed in the
f olloVi!lE; order:
(a) For ell n ece ssar y and :pror er co s ts and expens es of the efficient and
economicn l o~e r n tinn nnd nninten:mce of said sewer system.
(b) There shall be dep o sited in a fund to be known as the "Sewer Revenue
Bond Fund, 11 amoun t s sufficient for the p ro.:npt p ayment of the interest on and
the p rincipa l of s a id Smre r Revenue Bonds when and as the same shall become due
nnd pnya ble , re spectively. The owners a nd holders of SDid bonds shQll have a
fir ~t and pri or lien on nll of the net revenue s of said system~
(c) Co mme ncing April 1, 1954, and monthly therea fter, there shall be
deposited in so.id Se wer Revenue Bond Fund l/6th of the amount necessary to
pay the next ma turing ins tallment of interest on all of said bonds outstanding.
(d) Commencing JanU1try 1, 1954, e nd monthly thereafter to and including
September 1, 19,54 , there sh rill bP deponitP~ in said Bond Fund 1/9th of the amount
nPce~!:',,.ry to pcy th13 next u :tturi nf"' ins tnllment ,...f principal of s n.id bonds. Com-
mencinc October 1 , 19 54 . and ~on thly thereaft e r there sha ll be dern~it Pd tn said
:Son d ii''l1:id l/12th o f t hl:' "T"',....,,,t ~0 ce s s a ry to pay the next maturing inst n lltlent of
;:-inc1::.-U of ;:;.:'.id bone:: on t " t ,,::cli!'lt;.
(c) Fr~-t~c ~roceeds of uo.id bond s there sha ll be set as ide an ar.i0Ul1t
ru!ficien t tn :ray the int erest on s o.id boncls durine the period of construction
:-.nd to end includinc, Arril 1, 19,54. I n adc~iti.on, ·trom such p -rocc e d s there shall
be dep osited i1: o. sep nrn.t e fund to be k nown a s the ''Re se rve Fund, 11 the sum of
$25,000 . After the for eecin c p~yraent s anu deposit s hnve been nade and a fter full
coi:mlin.nce with subdivisions (n ), (b), (c) a nd (d) of this Sect io n 6, the rema.in-
ine revenues of snid sy s tem shnll be placed i n s n i d Re se rve Fund until there is
$40 ,000 in such fu"'l d . The noncy in the Re serv e Fund may be u sed to prevent
·efn ultc in the payment of sai d Sewe r Revenue Bonds a nu intere s t thereon, and
if money be used for such purpose, it shnll b e r es tored to the Reserve Fund as
soon thereafter as possible. Sa id Reserve Fund shn ll be maintv.ined at $40,000
until such ti L'l e as the runount t her ein vill b e sufficient to p ay a ll of said
Revenue :Sor:ds on t s t·1ncline and the int e rest thereon. By order of the City Council,
moneys in the R e~e rve Fund ma:'.," be invc!:ted in United Stll t e!J Gnv e rnoent bonds or
sec ur1 ti es .
(f) When s u id Reserve Fund conta ins i4-0,ooo n.nd all other r equirements
hereof h:we been ful fill ed, a ll remRining reve nue s of s a id se, .. er sy$t em may be
di~l-urscd for t~e improvcr.ient o r extension of the seua ge dispos a l plant of the
system or f or the redemrti on of the bond~ of said issue nt a price not grenter
~""'~ the cn ll price , n nd for no other purpos e vh ~tsoever.
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SECT IOlT 7 .
Th e City hereby furth er irrevo c ~bl y c onvenunt s and agrees with each
and eve ry h older of s a id S ev e r Revenue Bond s i !'ln ued under the provisions of this
Orcinance, thn t so long as any of s n id bonds remu in out s tanding:
(a ) I t will continue to ope r a t e and mana ge it s sewer syst"'!'I
in an efficient and economica l manner nnd. l:eep and l:lB.intain separate
a ccount s of the r eceipt ~ nnd disbursements thereof ir. such manner
t !la t the rev enues th r?r eof, p ayable into said Revenue Bond Fund,
may a t all times be r e n.Cily and accur~tely determined.
(b ) I t w:!.11, throuGh a pp roprinte a ction of it s Council, maintain
nnd enforce a s cheduel of r a t es ancl charr;es for sewer services furn-
i shc c! by s.~i d syst e:::i sufficient to :pny a ll cost s of operating and
oa.ir.t n inirlf: s~id system a nd to p rovide net annual income in excess of
such co s t s as fo llows :
In the y e n r ending October 1, 1954 $38.302
I n the ye3l' ending Octo ber 1, 195 5 41,454
In the yeflX ending Octob e r 1, 19.56 44,.551
I ~ the yenr endill£: Octo ber 1, 1957 47,593
I n the year~ e!'l.Cline Octo ber 1, 1958 , to
198J , inclusive 58,043
( c) I t \::!.11 not sel 1 or a liena te any of the pr op erty constituting
any :rar t, or a ll o f saic:t system, in any r.m ... '!'1ner or to any extent as mil;ht
reduc e the security provided for t he :p:-:.ym ent of s a id Sewer Revenue
3onds by nen.n s of and out of sai~ Sewe r Re v enue Bond Fund, crea ted and
e c;tabl ished. b;r t his Ordin a nce, but the City may sell any :portion of such
p r o:r erty w~1!.ch s hall hnve b een replaced by ot..'1-icr s i milar property of at
l e ::s t c ~~tl v ;i,l u e , or \·:hi ch shc.11 c ense to be nece ssary for the effi-
cient opc;ation of said s~·steo; proviC.ed, howev AJ,, th.'.l t in the event
of any snl.e ~r sal e, as aforesaid, wh ere the aggrega te consideration
exceed !:' the sum of $1 ,000, such cons idera ti on shall be paid into said
Sewe r Revenue :Bond Fund, and shall be u sed for the pur:roses of said
Fund.
(d ) At re gul~:r periods e a ch y en:r, it will r ender b ills for sewer
cervices furnished , such bills to n.ppeo.r on a nd be a part of w ~ter bills
render e d by the City. Until p a id all sewer r a t es and cha rt;es shall
constitute u li en on the pro;ierty served, and the City shall tnlte what-
ever e cti on is leg:Uly permissible promptly to enforce nnd collect de-
inquent sewer charees and liens, a nd it shall shut off W!'.ter service
from prorert y del i!lr_u ent ir. the pnyment of such r ates and chnre;es.
(e) At lens t once each year it will furni s h the ori g ina l purchasers
of s ~i d Re venue Bond s a complete aud it e d sta tement of the receipts and
d i sbur sement s of a nd for it s sewer 's ys tem for the fisca l yea:r immediately
p r e ceding suer. stP.ternent, a nd on written re~ue s t of the owner or holder
of nny of s~id bonds outstanding it will furnish a co p y of such stat~
cent to such owner or holder.
(f) It will C ~l rr y workncn 1 s compens ·ition, public lia bility and
othe r forms of insu::.·o r..ce on in sur a ble sewer r r o!:erty, in such amounts
:'..S will rro t e ct s n.i C. sys ter.i a nd it '3 opernt ion .
(c ) I t \:ill furnish no free seucr s e rvice, and if it elects to
use s e\rer r;e rvices for r:nmicipn l p urpo ses , it will make provision to
:p :ly th e r e for n.t the s nme r a t e as is chnreed other s for like or sir.lil.::ir
s ervi cc .
(h) Fo r the prote cti on of the h e nl.th of the inhabit a nt s of the City
1 t wi ll, by 3ppr o:p ri a t e a cti on , compel n.11 the own ers of occu:p ied proper-
ties cqm.b le of beinc; s erved by s :?..i d sewer system, to connect t h eir
!'r crni ~r!:' with such s ;}rs tem .
Th n t nothinc in this Ord inance shn.ll be co ns trued in such manner a s to
_ revent t he i s suo.nce by the City of Enel ewood of additiona l bondc p a yable from
t"" ~ "ll"l"\f"E' derived 1'rorn the ori e r ·"l.tion of said se\·1er sy s te:i, p rovided, however,
thn t whiJ c nny of t he bnnc'h nu thori ?.e d b~· t hi!J Ordinance r..re out s t a ndinc;, the
Ci. ty shn ll not i s!"ue a ny adrl i t ionn.l bonds pa.y:tble fr oc t he income of the sewer
s ;,•stcm nnd h n vint:; a. lien on such income on o. p::>.rity with the lien of the bonds
a.uth '>ri ::ed h e~·ein , u..-Ucs s the revenue s of th e s~rstem for e a ch of the preceding
tvo fi-;~'\l y ear s , a f t e r the payment o f operation and maint e na nce expens e s , shall
h nve been 1 1/2 times t he m:u i~ nnnual r equirements for p rincipal a nd intere s t
on thn bonds of this i n~ue a nd 1 1/2 tim es the rnaximun1 annual requirements for
rincipnl n na intere c-t on such add itiona l b ond s , nor shall such additiona l bonds
be i s sued unle~n the City h a s pai d curr ent insta llment $ of principal and interest
on the bond~ nuth~r i "ee by this Ordinance, nor until the City sha ll hnve accumu-
lated the Re ee rv e hereinbefor e spe cified. Notwithstanding the provisions
hereof , pnrit y bonds mny b t' issued to comp lete the con st ructi on of snid sewage
di np ~s :-i l plant ir. nccordn.nce with p r es ent p l a ns for ori e ina.1 construct i on. Nothing
her e in shnll p r e v en t the is~uA nce of junior or infe ri or lien bond s .
.9.
All co ~ts n nd eY.pen ses incurr e d in connecti on \11th the issuance n.nd pnyment
of the Revenue Bond s autho ri ~e d herein shall b e pnid exclusively from the revenue
of snid sewer system, nnc in no event shRll ~· of such costs or expenses, or the
rincj pnl of or inter P~t on said bond q be p a.id out of or charged to the genernl
funds or t ~T. l e vies of snid City.
10 .
As the ac~uisition of a sewr.ge disp osa l plant for s a id City at the earliest
ocsi ble time i !': necessc.r y as n henl th and s a nitary measure, it 1 e hereby declnred
th..~t an eocrgency e~ls t s , that this Ordinonce is neces sary for the immediate pre-
servnti~n of tho public hen lth , peace n nd s a fety, and th ~t it shall t e.ke effect
five days a ft C'l· fin.."l l :publi c !l.tion.
All ordin~nce s , o r p n rt s thereof, in conflict with this Ordinance, are hereby
re;en led. .\ft e r sn.id Revenue Bond ~ h 11 v e been 1 ssued, this Ordina nce shall b e irrepeal-
abl e until sai d bond<J ~nd the intere ~t ther e on shall be fully paid, satisfied and dis-
chP.reed in th e :-.t"nnP r here in p rovi d ed. Thi s OrdiM.nce, o.fter it s fina l passage , shall
be r e ccrded in the Book of Orninances of s a id City, kept for tha.t purros e, and nuthen-
tic ~t ed by the !;1.f?1-'t tur t>'." o f the Mn~·or and t he City Cl 0 r k .
I!T'ISODUC:.ID AlID ORDER.:.~ PUBLISRL~ This 22nd dny of Sep tember, A. D. 1952.
( SE A L )
( S EA L )
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Firs t Public ~ti0n
Finnl Public::l.t i0n
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PlTIO VED O!T ~ 1 4 th d ay of Octobe r, A. D. 1952.
Se p temb ~r 25, 1952
October 16, 1952
I, J. L. B:crrt')n, Cl 0 rl:: of the Cit•· of Er.r,l c>11o'X1, Color.'ldo, do hereby certify that the
aoove an~ for rcoinc Ordin:mc e W:'..s i~troduced and R e n d i~ Fi11.! a nd on r.es olution H.<'•.s orde red
y ublished as pr o~0seC. OrC.i!'!.'..".:.c.e :'or t:ic l-!ec ti n0 of Sert el"Jlbr::: 2:, 1952 held by the City Council
o~ s a i d d.=..t c> and s nr.:ie w: n p ubl i sl:e d S eptor.iber 2.5 , 1952 a nd Oc tober 2, 1952 in the Encl ewo od
rc3s and f or mor e th~1 t en C.:1:,•s t'hercn ft t··r c.nd ~t c. subne<!_ue nt Moctin.,: of the City Co undl held
Octo'b e r l !., A. D. 1952 , 11A:'!' O~D ilTA!!CZ AU':'HORIZilrG Tim IS5UAUCE OF SE'.lER RE~TU~ :BOlIDS OF ~
E:TGW :ooD, c0Lo:1:..no , I~T ~:::: PTII17CirAL J.?.1CUlrT or $72.5. 0 00 . m~scnr:snm THE FORN JUTlr
I DI :m FOR 'ilT3 P.\Yl·m?TT OF SAID EOlIDS AlTD T:-!E Illm'~ST ~:CON, AlID DECLARING AN EMERGENCY, 11
v ·1 s dul:,r Po.ss ec. n rtd AC.op te J ~d :y>ub li s h~d i n the Enc;l ci:ood Press in its issue of October 16, A.D.
1952 as re qui r ed by t:ie S t 'lt utes o f the Stn tc of Colo1·n do .
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