HomeMy WebLinkAbout1951 Ordinance No. 020B y A u ! !! Q B 1 T .X·
0 R D I N A N C E ---------...li2· 20 S E R I E S Of 1951 • --------
AN ORD it!ANCE TO CO NTRACT AN IND EBT EDN ESS ON BEHA LF OF TH E CITY OF EN GLEWOOD,
ARAPAHOE COUN TY , COLORADO , AND UPON TH E CREDIT TH ER EOF BY ISSOmG _ BONDS OF SAID
CITY Ill TH E PRINCIPA L SUM OF $50 0,000 F OR THE PURPOSE OF AC QUIRING A MUNICIPAL
SYSTEM or SUPPLYING SAID c ITY VIITH WATER t PR ESECRIBING THE FOHN. OF SAID BONDS AND
PROVIDING FOR THE LLVY OF TJC<ES AND TH E APP LICATION OF NET REVENUES OF SAID SYSTEM
0 PAY SAID BONDS AND TH E INT l1:REST THERE ON.
~iHEREAS , a majority of t he t axnnyi n g electors of the City of Englewood, Ara-
pahoe County , Colorado , voting on qu~stions submitt ed at an election held in said
City on Oct~b e r 8 , 1 948 , by th ~ir vote aut h orized said City to erect a municipally
owned water-works system for ~,a id City and its inhabitants, and app~oved Ordina nce
No . 13 of said City adopting a p l an for t he acquisition of a municipally owned
waterworks system; an d
',.'HEREAS , t h e City h i-l s be e n di ligen tly engaged j n tak ing t he necessar y steps
and proceedings to acquire such mu nicipal sys:tem, and has issued its bon d s for
t hat purpose; and
'.1REREb..S , it is neces sary to issue a dditional bonds of the City for the pur-
pose hereinafter set forth ;
S~CT ION t.
THEREFORE , BE IT u_mAIN.LD BY THE CITY COUN CIL OF TH E CITY OJ:t, IrnG Ll!:WOOD ,
ARAPAH Or. CO UN TY , CO LO R.h.LO:
hat for the purp ose of SU )p lying the City of En glewood , Col or ado , and its in-
habitants with a proper and &de qu ate su p ply of water and to provide a n efficient
aterworks system , said City shall is s ue negotiable bonds in t he a g g rega te principal
amount of $500 ,000 , to consist o f f'ive bonds in denominations of ~100,000 each,. num-
bered I to 5 , inclusive , payLbl e in lawful money of th e Un ited S tat e s of Ameri ca,
to bear interest from and af t e r the first day of December, 1951, payable semi-annual-
l y on the first days of June and December in each ye a r at th e rate of 2 3/4% per
annum . S&id bon ds sh a ll matu re December 1, 1966, but shall be redeemable a t any time
after sate. The principa l of and interes t on said bonds shall be payable at the of f ice
of the City Treasu rer, in Englewood , Co lor ad o. Said bonds shall be a r date December
1, 1951, and shall be signed by the Kayor , attested b y the Cit y Clerk, under the of~
fici a l seal of said Ci t y , co n nt c rsiened by the City Treasurer, and shall be recorded
in a book t o b e k e nt by th e Cit ~, Treasurer , and sho ll be recorded in a book to be
kept by said City Clerk for t h o t purpose .
SE CTI ON 2.
Th n t th o said bonds shn J l b e in substantia lly the foll owinB form :
UNIT r:D STAT ES OF AJ.~l!:R ICA
STA Tl!: OF COL OflAD O
COUN TY OF hRAPl~HOE
. 'AT EH BOND
CITY OF EN GL EWO OD
o . $200,000
$100,000
The City of ~nglewood , i n the Coun ty of Arapahoe and State of Colorado , acknow-
ledaes its e lf indebted and her eby prom ises to pay to the bearer hereof, the sum of
ON E HUNDRED THOUSAND DOLI...b.RS
on lhe 1st day or December , A. D. 1 966 , with interest thereon at the rate of 2 3/4
per centum (2 3/4%) per a nnum. payabl e semiannually on th e 1st days of June and De-
cember in each year , both principal and inte rest being payable in lawful money of
the United States of Ame rica, e t the of .['ice of the City Treasurer, in Englewood,
Colora do .
This bond is redeemable at th e option of th e City any time after its date.This
bond is issued by th e City of En Blewood, Colorado , for the purpose of' supplying said
City and its inhabi t an ts with a prop e r and adtquate supply of water and to provide
an efficient waterwork s syst em , under the autb ori ty of and in full conformity with
the Cons titution of the State o f Colorado , and the provisions of Chapter 163, Colo-
rado Statutes Annota ted, 1935, an d all other laws th er eun to enabling, and pursuant
to an Ordinance of said City duly ado pted and made a law of said City prior to the
issuance of this bond .
It is hereby certified and recited that all requirements of l aw have been fully
complied with by the proper offi cers of said City in th e issuance of this bond;
that the total deb t of said City, including that of this bond, doen not exceed any
11n1t of indebtedness p rescrib ed by the Con stitution or laws of the State of Colorado,
an d tha t provisions hos been m ~,de for the l evy and collection of an annual tax on
all of the taxable prop e rty in said Ci ty and for the application of the net revenues
of said system su f ficient to p~y the inte rest on and the principal of t he bonds is-
sued by the City _for s c id pur )ose wh en t he same become du e .
Th e f aith and credit of th e City of Englewood are hereby p led ge d for th e punc-
tual payment of the prin ci pa l of and interest on this bond.
I:I T~S Ti t:ONY vn r:~REOF , th e City Cou ncil of th e City of Englewood h as caused th is
bond to be signed by the ~u yo r of said City , attested b y th e Cl e rk there of, und er the
seal of th e City , and c ou nter s i g ned by its Treas ur e r, as of the l s t day of Decembe r,
• D . l 9!J l.
M a ~·or
COUN TEH SIG NED :
( S E A L ) ATT EST :
City Clerk Tr e asur e r
SECTION 3 .
S aid bonds shall be de l iv e red to P eters, Writer & Christensen, Inc., and
Bo ettcher & Com pa ny , and their ossocia t e s, of Denver, Colorado, in accord a nce with
their a g reer.ent to purchase th e same . The purchasers of said bond s she ll in no man-
ner be responsible for th e appli r:ation or dispos a l b e sa id City , or ony of its of-
fic ~rs , o r on y of th e J ~n ds a, r ived froM th e sa l e •h ere of.
•
The interest to bec ome due o n bods issued on th e first days of June a nd Deoea-
be , 1952, shall be a d v anced ou t of the general, wat er or other available f un d s of
said City . For the purpo se o f r (J imbursing such fund • and of meeting the interest
th e reafter accruing on said bon e s promptly and a s the same be c omes due, ann for the
purpose of providing for the ulti~a te payment and redemption of said bonds, there
shall be levi ed on a ll th e t ax~bl e proper ty in said City, in ad d ition to all other
taxes , direct annual taxes in each .Qt tne J years ~ 195!.to l965;l in~la9ive, sufficient
to produce the interest on an c the principa l of said bonds is ~ued when the same be-
come due respectively. Said ta xe s, whe n collected, sh a ll be deposited in a special
fund to be known as the "Water Dond Fund ," and such fund sh a ll be applied solely
to the purpose of the paym ent o f' the interest on and the principal of said bonds,
and for no other purpose what Avc r, until th e .ind ebtedness authorized by th4s Ordi-
na n ce, both princi p al and int e r es t, sha ll have b e en fully paid, satisfied and dis-
chargee, but nothing her Lin c ontained sha ll be so construed as to prevent said City
from ap plying water revenues or any other funds t hut may be in the City Tr easury
and available for that pur p ose, to the pa;nn ent of said int e r es t or princip a l, a s
th e sarc ma tures , find u pon su c h poytncn ts the l e vy or levi e s h cr<-:in provid ed may
thereupon to that extent b e dimin ished. The sume he re inb efore provided to meet the
interest on said bonds a nd to dis charge the principal thereof when due, are here-
by appr~priated for that purpo se , and sa id amount for each ye ar shall also be includ-
ed in the annual budeet and e prr opriation bills to be ad opted and passed by the City
Co uncil of said City in each y e ar , respe ctively.
11
5 .
It sha ll be the duty of th e City Council of said City, annually, at the time
and in the manner provided b y l a w for levy i n g other Cit y taxes, if such action shall
be necessary to effectuute th e nr ovisions of this Ordinance , to ratify and carry
outt he provisi ons her eo f ~it ~ r eference to the levying and c pllection of taxes; and
said Council shall require th e officers of and for said City to l evy , extend and
collect such taxes in the ma nn ,r provid ed by law for th e purpose of creating a fund
for the paym e nt of the princip:.l of said bonds and interest thereon, and such taxes,
hen collected, sha ll be kept fo r and applied only t o the payment of the interest
and pr incipal of said bon ds as h eJ·einbef'ore specified.
6.
I
The City covenants and aer e es that wh e n said syst em is in operation it will I
establish , maintain an d enforce a schedul e of water rat e s and charges for water hl'ft4e I.
furni s hed frOJ .J its water system , v1hich rat es and ch arges , to13ether with the pro-j
ceeds of tax levies here inb c f oI'e specified , shall be sufficient to pay maintenance ~
and operat i on e xpenses , th e principal of and interest of said Wa ter Bonds and out-.
standing bonds is s u e d for wa ter· purposes as the same shall become due, and a reserve
fund for such purpos es. Such r e venues are hereby irrevocably pledged for such pur-
poses and the owners and hol ders o f the Bonds aut horized herein and said outstand-
ing bonds shall have a l i e n on th e proceeds o f' such rates and ch a r ge s aft e r the pay-
en t of said expenses .
7 .
The proceed of \/o ter Bones issu ed pursuant to this Ordinance sh a ll be deposited
in a special trust ac count , shall be withdrawn only on orders of tte City Council
and shall b e apj>l ied so l ely t o t h e purpose specified herein.
e .
Nothing contained herei n sh: 11 prevent the is s u a nce of bonds to refund bonds
authorized by this Ordinance , in order to extend the time of payment of the indebt-
edness to be evidenced by said bo n d s. Such refunding bond s sh a ll be authorized by
an Ordinance containing such t erms, provisions and covenants as will amply secure
the payment of s fl id refunding bo n ds .
9 .
11 ordinan ces , or parts ther e of, in conflict with this Ordinance, are hereby
repealed .
10.
fter bon d s are is s ued pursuan t to this Ordinance it sho ll be and remu in ir-
repeal ab l e unti l such bon ds nn <1 the intcr ,·st thereon shall have been full y paid,
satisfied and disct:e r v,ed, or refunded.
S .:CTION 11.
Th i z Ord in£:.n c e , inuned ia t u l y on its passage , sh a ll be recorded dm the City Book
of Or dinc.nces k e pt for t hot pur p ose , authenticated by the si g n a tures of the ~/ayer
and Clerk and shall b e publi ~hed as required by law.
12 .
By reason of th e fac t th 't the City and its inha bitants are not properly or
adequat e ly supp li e d wit h wat e r a t th e present time, it is hereby declared that an,
emergency exists , that this O"·dinance is n e cessary to the immediate preservatio~
of the public p e ac e , hea lth ond safety and it sahll b e in full force and effect
fiv e davs aft e r fina l publicati on.
U [TRODUCED , read and ord ered publis hed this 13th day of November, 1951.
(S E A L )
.,S T: ~.E .Ande rson
i ty Clerk .
Chas. R. Al len
May or
I
FINALLY AD OPTE D AND AP~OVZD Th is 10, day of December, A. D. 1951.
Passed on First Reading by th e City Council of the City of Englewood, Colorado, this
13th day of Novem ber, A. D. 1951. and ordered published in the Engle\'Dod Press.
Passed on F inal R e adin ~ by the City Co uncil of 1he City of Englewood, Colorado, this
10th dav of De c ember, A. D. 19 51. and ordered published in the Englevood Press.
ATI'E ST:
F irst Pu~lication November 15, 1 951.
Final Pu b licat i on De c ember , 13th, 1951.
STA TE OF COLO RADO )
COUNTY OF ARAPA11 0 E ) SS :
!TY OF ENGLEWOOD )
I, E. E . Anderson, City Clerk of the City of Engle'M>od,
County of Arapahoe , St ate of Co lorado, do hereby certify that the above and fore-
going Ordina ~ce was introduced a nd Re ad in Full, and on Resolution was ord~redpub
lished as proposed Ordinance for the Mee t ing of November 13th, A. D. 1951. he~d by
the City Council on s aid Date and same was published November,15th, November, 22nd,
A. D. 1 951, in the Englewood Press, and for more than Ten Days thereafter and at a
subsequent Meeting of the Ci t y Council held December 10th, A. D. 1951. "AN ORDINANCE
TO CO NTRAC T AN I NDE BTE DNE SS ON BEHALF OF THE CITY OF ENG LE WOOD, l "'R.h.Pl l HO Ti: COUNTY,
COLO RAD O! ANIJ UP OH 'Il1 E C n E DIT THE HE OF BY ISSUING BONDS OF SAID CITY IN THE PRINC IPAL
SUM OF 0:>00,000 F OR T HE PUHPOS E OF AC QUIRING A MUN ICIP/,L SYSTEM OF SUPPLYING SA ID
CITY \'/ITH WA TER , PRES CRIBING THE FO RM OF SAID BONDS .AND PR OV IDING FOR THE LEVY OF
TAXES AND TJIE JJ>_·LICATION OF NE T REVE NUES OF S J.ID SYSTEl~ TO PAY SAID BONDS AND THE
~RF.S T THERE ON." was duly }'as sed and Adopted and published in the Englewood Press
in its issue of D~c c mber 13th, 1 95 1. a s required b y the Statutes of the State o f
Colora do .
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