HomeMy WebLinkAbout1951 Ordinance No. 021SEC TIOlf
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B Y A U T H 0 R I T Y. _______ ... _
QR J21N A !!C! ...1!2· 21 §.ERl E §. .Qf 1951 •
ORDINANCE PR OVI DU;G F OR TR E ISSUAUCE BY THE CITY OF Erif GLE WOOD, ARAPAHOE
COUNTY , COL ORADJ , of its neg otiable cou p on bonds in the principal amount of
~500,000, TO BE DENOMINATED "REFUNDING WAT ER BONDS, SERI ES 1951," FOR THE PURPOSE
OF RE W NDING A LIKE Al 10UNT OF BOND ED INDEB TEDNESS OF SAID CITY, PRESCRIBING ·TH E
FOIU.: OF SAID REFUNDING BONDS AMD PR OVIDIN G FOR TH E LE VY AND COLLECTION OF AN
AL TAX AND THE APPLICATION OF NET RE VENUES FR01"" SAID SYSTEM TO PAY THE S.A1~,
RINCIPAL AND INTER~S T.
,'/IIBREAS , on th e e th dny o f October, 1948 , a majo r ity of the t axpaying elec-
tors of the City of Engl e wood , Arapahoe County, Colorado, voting at an election
held for t hat purpose , autho r i ze d th e erection of a municipally owned waterworks
system, and approved Ordina nc e No, 1 2 , S eries 1948, of said City adopting an amen-
ed p l an for t he acquisition o f rn 1nicipally owned waterworks system; and
l/HEREAS , th e City has be · n diligently engaged in taking steps and proceedings
t o s uppl y said City and its inh ~bit an ts with a proper and adequate supply of water
and to p r ovid e an eff ic e nt wat erworks system; and
\'/ffi':TIEAS i the City Counci l has introduced an ordinance authorizing the issuance
or add iti o na ·.7a t e r Bonds of t h €' City in a principal amount of ~?560,000, dated
Dec e mbe r 1, 1 951, ma turi ng Dec emb er 1, 1966, and redeemable any time after their
d at e; and
~'HEREAS , t he City Council h a s determined th a t said Wa ter Dona Indebtedness should
be refund e d in order t o ext e nd t h e maturity th~reof, and to reduce annual require-
ments for interest and princi pa l; and
~THERE AS, af t e r t his Ordina .,ce is in eff ect the City will have issuei and there
will be outstanding a p a rt o f the total is ~ue of said 1/ater Bonds; and
11HERE AS , it is deeme d advisable to authorize the is s uance of Refunding Bonds,
Series 1951, to b e exchang ed f or such original Water Bonds as may be issued; and
WH::R E AS , by a resolution duly ado p ted on the 13th day of November, 1951, the
City Council determined to issue such Re -Funding Bonds and a certificate of such a
determination was du ly made anc entered in and upon the records of said City as
require d by law ;
1.
THEdE F ORE . BE IT ORDAINE D BY THE CITY com~CIL OF TH E CITY OF ENGL !•:V/O OD ,
ARAPAHO E COU:~TY , COLQR j1.DO :
That b y virtue and in pur suc::1n ce of' Ch a pter 23?, S ession Laws of Colorado, 1921,
there shu.11 be issued ne go ti able coupon bonds of said City, each to be denominated
'Refundine rla t er Bond , Ser ies 1 9 51," in the principal am ount of $500,000, for the
purpose of :refunding a like amoun t of s a id Water Bonds of said Cit y dated December
l, 1 95 1, ehich bon d s ma y b e i s s 11e d fr om time to time as the needs of the City require.
2 ..
Tha t th e ~ .. o.yo r and City Cl erk be o.nd th ey ar e hereb y authorized and directed
to have prepa r ed ne~o tia ble c oupon i<efu nding Water Bonds, Series 1951, of said City
in such amount s as ma y be n e ce c . ary to refund \'l ater Bon d s is ::ued or to be issued ..
CTION 3 ..
That said bon ds h e r e by au t h orized shall be neg otiable in form, payable to
bearer, shall b e dat e d Dece mb er 1, 1 95 1, shall consist of 500 bonds in the denomi-
nation of ~l,000 ea c r , nunbered 1 to 500 , inclusive, sh a ll bear interest payable
semi -annu u lly on th e l s t duys 01' June and De c emb e r in each y ear, and shc..11 mature
on De cember 1st as fo llows:
12,000 i n t he yea r 1 953 , ~13,000 in each of the years 1954 end 1955; ~14,000
in the year 1 9 56; ~1 5 ,000 in each of the y ears 1957 and 1 958 ; at the rate of 1 3/4
~p er a nr .. um; .,,;16,000 in each of the years 1959 to 1 96 1, inclusive; ~~l?,000 in the
year 1 96 2;$1 8 ,000 in each of the years 1 96 3 to 1965, inclusive; at the rate of
2 1/4% per annun; J l 9 ,000 i n r.ach o f the years 1966 and 196?; ~20,000 in each of
th e y e ars 1 968 and l g69 ; ~21,00 0 in the year 19?0; $22,000 in the year 1971; $24,
000 in t he year 1 97 2; a t t he ra t e of 2 1/2% per annum; $25,000 in each of the
ears 1 9?3 a n d 1 9 74; ~26,000 in e ach of the years 1975 to 1 9 78 , inclusive; at the
r ate of 2 3 /4 7~ per a nnum.
Bond s maturing in th e ye ar ~ 1 966 to 1972,inclusive, srell be redeemable at the
option o f t he City on DeceMber 1, 19 61, and on any interest paym e nt date thereafter
in inverse numerical order ; bo 11( s maturing in the years 1973 to 1978, inclusive,
sha ll be red eemable at t he opti on of the City on December 1, 1966, and on any interest
paym en t date t hereafter in in v erse num e rical order, Notice of' redemption prior to
aturity s hal l b e publi she d in a newspaper of general circulation in Denver , Colo-
r ado , 30 days prior to th e d o t e of call, and a copy of such notice shall be mail-
ed to Peters , ~·T riter & Chr ist ense n, Inc .. , and to Boettcher & Company, of .Den~r,
Colorado ,
h e principo l of sa i d bon e's and the interest accruing thereon shell be payable
in l awfu l mon e y o f th e United S tv te s of ilmerica, a t the off ice of the City Treasurer,
in Englewood , Color ad o, an d s a id bonds shall be signed by the E ayor, countersigned
by the Cit y Tre asurer, with the seal of' said City ar1·ixed thereto, and attested by
t he City Cler k of sa id Cit y . Th e interest ac c ruing on said bonds shall be evidenced
by interest coupons t he r eto att ac hed, bearinB the facsimile si g nature o f the City
Treasurer, and when so execut e d such cou p ons shall be th e binding obligat-d.ons of
th e City acc ordin ~ t o their i mnor t.
SECTION 4 .
Sa i d b ond s and t he cou p on s to b e attached thereGo shall be in substantially
t he fo llowinR form , to-wit:
I .
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'nTgn STAT ES OF AFE RICA
S'IA T !'~ OF C O L0 ~1t~DU COUNTY OF ARAPAH OE
CITY OF ~NGU:V.O OD
REFUNDING \'/ATER BOND
SERI ES 1951 No . ___ _ $1,000
The City of l!.ng l e w ood , in the Coun «sy of .i~rapahoe and S1R te of Colorado, for
value received, hereby ackno w lcd ~es itself indebt e d and promises to pay to bearer
the sum of
ONE TIIOUSJJ..11) DOL LARS
in lawful mon ey of t he Unit e d st~tes of America, on the 1st day of Decem ber, A. D.
19 , with intere st thereon from the date hereof at the rat e of per
centum (-----%) per annum , pay ·. ble seMi -annually in li k e me dium on the first days
of June and Dec em b e r in each yea r, as e v id enced by interest coupons hereto attach-
ed, both pri n cipal and int er e st being payable at the office of the City Treasurer,
in Englewood, Colorado , upon presentation of said coupons and this bond,respecti-
vely .
(The fo li owin~ clause to b e inse rted in bonds maturins in the years 1966 to
1972, inclusive .)
This bond is redeemable at the option of the City on December 1, 1961, and
on any int erest payment date thereafter in its inverse numerical order in the issue
or which it is one .
(The following c lau se to b e inser ted in bonds maturing in the years 1973 to
1978, inclusive . )
This bond is red e emable at the op tion of the City on December 1, 1966 and on
any interest paymen t dat e the r eafter i n i ts inverse num e rical order in the is s ue
of which it is o ne .
This bond is is ~ued b y th e City of F.nglewood, Colorado, for the purpose of
paying wat er bonds of said Cit y , under , by virtue of and in full confonmity with
the provisions of an act of the General Assembly of the S'ta te of Colorado, en-
titled: "An Act to e nabl e cities and towns to refund their bonded indebtedness,"
a pproved ?£arc11 16, 1 92 1, beint.: Chapt er 2 3 7, Session Laws of Colorado, 1921, and
pursuunt to an ordinan c e adopt e d by the City Council of said City at a lawful
meeting thereof, held prior to the issuance of this b o nd.
It is hereby certified a n d reOited that all acts and things required to be
done and conditions and thing s required to exist precedent to ans in the issuance
of this bond to render the same l awful and v a lid, hav e hapJEn e d, been properly
done and performed , and did ex i.Jt in re c ular and due time, form and manner, as re-
quired by law, and that the total debt of said City, includingtha t of this bond,
exceeds neither the statutory no ~ th e con st itutional limitati ons of the St ate of
Colorado ; that said total debt is n o t increased by the issuance hereof, and that
provision has been made for the l e vy and collection of a direct annual tax on all
th e taxable property in sa id Ci ty and fo r the application of net water revenues
of the waterworks syst e m of sai d City suf1'icent to pa y the inte rest on and the
principa l of this bond as th e s ume resp e ctfully come due.
The full faith and cr e dit of t he Ci ty of e:nglewood are h er eby pledged for the
punctual payment of the princi p ~~l of and the interest on this bond.
IN \JITN Jt:SS WH EREO F , the City of Eng l ev.o od, Ara pah oe Count y , Co lor ado, has
caused th is bond to b e signed by its Mayor , countersi g ned by its City Treasurer,
sealed with its corporat e seal, nttested by its City Clerk, and has caused the an-
nexed interest coupons to be e xecuted with the f a csimile si g nature of its City
Treasurer, as of the l s t da y o :· De cember , A. D. 1 95 1.
( S E A L )
ATT EST :
No . ---
Ci ty Cl ci~lC
(Form of Coupon)
Mayor
Countersign e d
City Treasurer
On the first day of June , De c ember , A. D. 195_,*(unless the bond to which
this coupon is att3.ched has been c alled for pr ior r e denption) the City of Englewood,
in the County of' .nrapa h oe an d state o f Colorudo, pr omises to p a y to the bearer
----------------------D OLI..A i~S
in lawful mon e y of the United S tate s of Amer ica, at the o f f ice of the City Tre asur-
er, in Englewood , Colorado , b c int:; six months' interest on its ne funding Water Bond,
ceries 1951 , dated December 1, 1 95 1, b ear ing
o . ___ _
(Fa csimile_ S ignature)
Cit y Tresurer
*(This cla use t o b ·: inse 1·ted in cou p ons du e June 1, 19 6 7, a nd thereafter attached
to bonds mat11rinp; in th e y cc rs 1 973 to 1978 , i n clusive, and
Th is cla use to be insert o d i n cJupons due June 1, 1 962 , and thereafter attache d to
bonds maturing in th e years l 0G G t o 1 0 72, inclu si ve.)
SECTION 5.
SE CT IO.
Tha t the Refund ing ':later Bo nds hereby authorized sha ll b e issued to the pur-
chasers of t he ori 3i.n a l .. a t cr Bond s in exc ha n ge , dolla r for doll u r, for t h e bonds
to be refunded and suid nefunding .late r Bond s shall not be issued until outstand-
ing .,ater Bon d s in a like aM o,in t hove b een called in and cancelled and all accru ed
interest on said ~oter Bonds shnl l b e pai f b e fore such !efunding Wa ter Bonds are
issued in exch u nge t rerefor.
6.
The inte rest du e on s a ic Refund ine Bo n ds in t he year 1 052 shall be advanced
from any funds of the City a vailable therefor . For the purpose of reimbursing such
funds and of payin ~ t he intcre~t on and pr incipal of said bonds, as the same become
due , th er e shall be l e v ied on all t he taxable property in said City, in addition to
all other taxes, direct a nnw. l taxes in e ach of th e years 1952 to 1977, inclusive,
ounts which shall be suf ~ic e nt to ~eimb u rse such fund s and to pay the interest on
and the installments of pri noi pu l as they become due, res pectively. Said taxes,
when collected, shall b e p l ac •_d in a tund t o be called the "Vlu ter Bond Fund," and
said taxes shal l be applied so l e ly for t he purpose of the paym e nt of said interest
and principal of said bonns ,rc specti v e ly, an d for no other pur p ose whate~er until
the bonds authorized by this or di nance , princi pal and interest, shall have been
fully paid , satisfied and discharged , but nothing h ere in cont ained shall be so con-
strued as to prevent said Cit y fr om applying wat er revenues and any other funds
that may be in the treasury of the City and available for th at purpose to the pay-
ment of the said interest or prin ci pa l as th e same respectiv e ly mature, and upon
any such application th e l e vy o r l e vies herein p rovided may thereupon to that ex-
tent be diminished .
SECTION 7 .
No Dwithstanding the provi si ons for tax levies, hereinbefore set forth, the
net revenue s of th e water wo rks system of th e City shall be applied in the payment
of the inte rest on and principa l of Refu nding V/ater Bonds of said City, dated De-
cember 1, 1918 , and of the bon rs author iz e d he r ein. Such n e t revenue is defined as
the income and revenues r emaining after pay i ng the reasonable costs and expenses
of maintaining and operating said system . Upon application of such revenues, said
tax l e vies shall be reduced t o the extent of th e rev e nues so applied. The gross io-
come and revenues of said syst Grn sha l l b e placed in a seperate fund to be known as
the "Wa terFund~" After pa yin~ t he cost s and expenses of th e economical and effici-
ent op e rat i on and main tenanc e of the system , all oth er income and revenues of said
system shall be placed in said '.la t er Bo nd Fund an d shall be applied only as in the
Ordinances author izing the i s .11 1 nee of Refundine Water Bonds of said City.
8.
After provision for the paymen t in. any current fiscu l year of the int e rest on
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fttt~;
and principal of all outst andinc; i1efun ding \lat e r Bonds of the City, all remaining .,
net revenues of said syst em shul l be p l a c ed in a seperate fund to be known as the .
at c r Bond Reserve Fun d~"until t he amount th erein is sufficient to pay the inter-\
est on and principLl of said outstanding bonds in t he next ensuing fiscal y e ar. !
Such ResE:.rve fund shall be maint e ined until t he amount therein is sufficient to
pay all of suid outstanding bonds and the interest on such bonds. If it shall be-
come necessary to withdraw mo ney s from said l{e serve Fund to meet current install-
ments of interest or principal of said bond s, the amounts so withdrawn shall be
restored in the next ensuinG fis cal year . After the accumlation of · said Reserve
nd, any net rev enu es fron s :J id system may be applied in the payment of interest
on or principal of outstanding water or water r efundin g bond s hereafter aut h orized,
for the purchase or redemption of outstanding bonds or f o r improvine or extending
such system, a s determined by th e City Council. All net revenues of said system
not immediately necessary to meet current inst a llments of interest and principal
on outstanding bonds may ne invested in direct obliga t ions of the United Stat es
of America, and any interest th er efrom shall be placed in said Wat e r Bond Fund .
9 .
outstanding Re funding \h! t r r Bonds of' th e Cit y shall evid en ce an irrevocable
charge upo n and a~ainst the net revenue s o f the wat e rworks system of the Cit y of
Englew ood and t he owners th e~e of shall have a first and exclusive lien thereon.
othing herein contained shall prevent the City of Englewood from issuing addi-
tional bonds which ~ay constitute a charge or lien a eainst the net revenues of
said wat e rworks system; provi ced, however, that the lien created f'or t h e payment
or such bonds shall always be Bnd remain subordinate to the li en created aga inst
said net revenues for the pa ym 1 ~nt of the bon d s authorized by this ordinance.
10 .
"bile any of the bon ds h ere in authorized remains outst a nding, the City shall
establish, maintain and enforce r ate s and cha rges tor ·a11 service rendered by said
system, which, together with the proceeds of tax levies her einbef'ore specified,
shall be suficient to pay the cos ts and expenses of maintaining and operating said
system, to pay the interest on ond principal of a ll bonds heretofore issued and
issued hereander promptly when and as the same become due and payable an d to ac-
cumulate said Hese rve Fund .
SECTION 11.
The City sb u ll render month ly or quarter-annual bills to all consumers of water
from said system, and if not o&id within 10 days aft e r being rendered said bills
shall become delinquen t. If any bi l l be not paid in 1ull within 30 d ays after being
rendered, water service to the de l inquent property sh all be discontinued.
12 .
That the City of Engl ewood hereby cov enants and a g rees with each and every hol4-
der of any bond issued hereunder :
(a) Thot so long as any of the bonds is sued hereunder remain outstanding, the
city will maintain said waterworks system in good condition and operate the
same in an ef f icient manner and a t a reasonabl e cost.
(b) That so lon3 as any of the bonds issued hereunder remain outstanding,
the City will maint a in insuranc e on said system for the benefit of the hol-
eror hold ers of said bonds, o f n kind and in an amount which would normally
e carried by private cor porations engaged in a similar typ e of business.
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SECT ION 13.
The proceeds of ony su ch i nsur n nce received by the City by reo son of or
pnrtial destruction of ;,:i i c'l sys tem , or ony port th ereof , shu ll be used
to repair or r e place th ~t p u rt or p art s of su id system so injured or de-
stroyed, or, if not so us ed , or if t here is a balance remaining after
suc h use, such proceeds or the ba l un ce thereof sh n ll be pla c e d in $hd be
subj e ct to the provisions of th e ~ng lewo od \"l at e r Bond Fu nd herein created.
(c) That the City of Eng l e wood will keep proper books, records and
accounts, seperate from all other records and accounts, i~ which com p lete
entries shall be ma de of al l tr a nsactions relating to the wat e rworks sys-
tem . Such books and accounts shall be kept as n e arly as may be in accor-
dance with the rul es and r egulations established by t he Colorado State
Public Utilities Conunissi on for privately owned utilities. k t least semi-
annually while any of t he bonds hereby authorized ar e outstanding and un-
paid, the City will furni :::h to ?eters, V/rit e r & Christensen Inc., and
Boettcher & Company , of Denver, Colorado, a summ ary of the receipts and
disbursements of said sys j em for th e preceding semi-annual period, and at
least once a year shall fu r nish said firms, or their successors, a copy
of an a n nual audit o f th e n ccounts of said system, which audit shall be
made by a competen t accoun tant acceptable to said firms.
(d) That the owner o r owne r s of tw e nty five per cent in a g~re ga te
principal runount of the b onds is s ued hereunder and at any time outstand-
ing or th e ir duly authorized representative shall hav e the right at all
reasonable times to ins p e c t the system and all records, accounts and data
of the City of ~ngl e wo o d relating t hereto, and u p on request, the City of
~nglewood will furnish to such bondholder or bondholders such financial
statements and oth er informc tion r elating to th e wat e rwor ks system as
such holder or holders :-a y fro!11 time to time reasonab ly require.
That the Cit y of En g l e wood hereby covenants and agree s with the ho lder or
holders of t h e bonc'!s her ···by author ized, or any of t hem , that it will faithfully
and pu nctua lly perform all duti es with resp e ct t o sai d wat e rworks system requir-
ed by the con s titution and laws of the S tate of C~lorado and the ordinances of
th e Cit y of ~nglew o od, includ i n: •he making , collecting and enforcing of rates
for service rendered by said system as here ibb efore pro v id ed, anc will segregat e
t h e revenues of said systen and a pply the! t o t he respective funds created by
t his Or di n ance .
SE CT ION 14. The City covenants that it ~ill not alienate said system or any par t thereof,
or a n y of the extensions or betterments t hereof or additions thereto, in such man-
ner or to such extent as might prejudice the seoiirity for the payment of said
bond s, but the Cit ~' may sell Lny portion of said system or property which sholl
have been re p laced by oth er property of at least equa l value or which shall cease
to be necessary for t he effici e nt operation of said system; provide d, however ,
that in the event of any sa l e as aforsaid, t he co ns i deration shall be paid into
said Water Bond Fund , to be us e d f'or the purpose of said fund. The City further
covenants and a 1~r e es that it ~i ll continuouslt op er ate said system and will charge
and collect r en ts, rates and c h arges for services rendered thereby, so th a t the
gross revenues and the proceeds of tax levies shall at all times be suf f icient to
provide for the payment o f t he operation and mai ntenance of said system, the prin-
cipal of and interest on s aid Re funding Hat e r Bonds dated December 1, 1948, and
said bonds authorized he r ein and to main tain the Vl ater Bond Reserve Fund he r ein
provided . Any holder of any on e or more of said bon ds or any of the c oup ons re-
pres en ti ng interest thereon , nay , either at l aw or in equity, by suit, action,
mandamus or othe r appropriate pr oceedings, in any court of competent jurisdiction,
protect the lien created by this Ordinance upon the revenues of said water works
syster.i, and May , by suit , act io n , mandamus or other appropriate proceeding, en-
force and compel t he perform n n c e of any dut y imposed upon said City by the provi-
sions of th e Ordinance , inclu c i 1g the maki n g and coll e cting of suff ic ient rates
and charges and th e segreg ation of the incom e and rev enue s of said system and the
proper application th er eof .
~cT ION 15. Tha t t he b o n d s auth or iz vd to be issued hereunder and from time to time out-
sta nding, shall not be e ntitle d to a n y priority one over the other in tre appli-
cation of th e revenues of s a id waterwork s system, regard less of the time or times
of their is u an ce, it b e jn~ t he· intention of th e Ci t y Council o f th e City of Engle-
wood that th er e shall b e no priority among t he b onds authorized to be issued pur-
su a nt to this Ordinance , resa r dless of t he fact th a t th ey may be actually issued
and deliv e red at differ ent t imes .
-------· 16. Th at th e prov isions of this Drd in~ce sha ll constitute an irrevo c ab le contract
betwe e n the City of Englewood a nd th e h older or holders of the bonds issued here-
under, and after t h e issuanc e 01' any of the bonds hereby authorized, no ch a nge,
variation or alt e ration of a ~y kind in th e provisions of this Ordinan ce shall be
made in any manner until such tim e as all of th e bo nds issued hereunder and the
interest accru in ~ thereon sha ll have been paid in full, except that the City may
from tim e to t ime ado p t ordi11 1 1 ces su pp lementury her e to, d e aling with the manage-
me nt a nd op era tion of the systen ; provi ded, however, that the provisions hereof
shall not be so altered or c hu n ~ed as to affect adversely t he security her eby
pledg e1 to t he p ayment of th o b o nds hereby authorized to be is s ued.
SECTIO N 17. Th at said bonds aut ho rized as herein provided, when duly executed and deliver-
ed for the purpose of refundi ng the outstanding bonds hereinbefore described, shall
consitute a wa r ranty by and on behalf of the City for the benefit of each and
every future holder of u ny of s u id bonds , that said bonds have been issued for a
valuable consideration in full c onformity with law. That the officers of the City
of ~nglewood be and they are hereby authorized to execute appropriate final certi-
f 1ca tes, certifyinB as to the facts relating to the execution and delivery of the
bonds ahd t he abs e nce of litiga tion, pending or threatened, affecting their
validity.
. ' SECTION 18. That when reference is ma de herein to the waterworks system of said City,
such r eference is int en ded to a p ply to such system as it now exists and to the
completed system and its ext ensions, improvements and betterments.
SEDTION 19. That if an y se c tion, para grn ph, clause or provis i on of this Or d inance shall,
or any r eason, be held invali d or unenforceable, the invalidity or unenforce-
ability of such section , para s r u ph, clause or provision shall not affect any of
the remaining provi sions of this Ordinance .
SECTION 20. That all ordinan ce or parts thereof, in conflict with the provisions of this
-Ordinan ce, are to th e ext e nt of such c onflict hereby repealed.
SECTION 21. That this Ordina n ce, af ter its introduction and reading, be published in full
in The Englewood Press, a news p~per of general circulation published in the City
of ~ng lew o od, in its issue of November 15, 1951, and after its final passage and
approval shall be recorded in a b oo k kept for that purpose, sh u ll be authenticated
by the signatures of the ~ayo ~ and City Clerk , shall be finally published in Tne
Englewood Pr e ss, a news paper df gener al circulation published in the City of ~ngle
wood, and take effect and be i n f orce upon the expiration of five d ays after it
has been finally published.
S~CTION 22. Tha t it is necessary for t he refundine proceedings herein provided to be com-
pleted as soon as p os ~i b l e i 11 0 1·der t ha t the said City may extend the time of pay-
ing its ind eb tedness incurre d f o r wat er purposes , therefore it is hereby declared
t hat an e n ergen cy exis ts, th ~t thi s Ordinance is necessary for the innnediate pre-
servation of the pub lic, h e alth ond safe ty, and that it shall become effective
five (5) days a fte r its final publication .
INT d ODUC ED, r ead and Ordered published t h is 13th day of November , A.D. 1951.
(S E A L )
ATTEST
Anderson cr en.
Chas R. Allen.
~.:ayor
F I NNA LLY AD1'TED AND APPROVED TJ;iis 10th day of December, A. D. 1951.
assed on F irst Heading by th e City Coun cil of the Cit y of }·:n g lewood, Colorado, this
l3tll day of r~ove n b 1 ·r, A. D. 1 95 1. and ord e red published in the 1_j n g lewood Press.
,I
10th day of Decem b e r~. A ... D. l ~f.i l. and ordered published in the Englewood Press. . ~
RasseC!:on Fl:_~aJ. l{~ad i_gg__b_z _the City Co uncil of the City of .l!;nglenoocf;· Colorado, this.
"lT 'EST :
:irst Publicati o n
I'inal Publication
STATE OF CO LO RADO )
COID!TY OF JJlh.~"--HU"E )
CITY OF .!.':T GL E'11..:0D )
Nov em b e r l b , 1 95 1.
Decem b er 13, 1 95 1.
SS :
Q~O¢?~
1 , E . E . Anderson, City Cl e rk of the Cit y of CT:nglewood,
Cou ilt y of Ara pah oe, Stat e of' Co lo r u d o, do hereby c e rtify th a t the abo1'e and fore-
oine Ordin ance was introdu ce d Lnd !1e ud i n Full, and on ~~esolution was ordered pub-
lished as pro p osed O rdin ~n ce ror t he L eeting of November, 13th A. D. 1 9 51. held by
t he Cit y Counci l o n sa i d Du t e an d same was published Novem b er 15th, :N ovember 22nd.
'. D. 1 951. in th e ~:ne;lew o od l T u ss, and f o r more than Te n Day s thereafter and at a
subsequ e nt : e e ti ng o f t he Cit :· C mncil h el d ;.. ec r ruber 10th. A. D. 1 95 1. "AN ORDINANCE
ROVII;I!'IG FOn TIG.!: ISSU./0 fCJ : BY TH I: CITY OF ENGL E\'/O OD, AR.h.PAHO E COU N'l1Y ' COLORADO' of
ITS NEGOTIABLE COUPO N BOND S I r TFE PRI NC IPAL .Al':O UNT OF $500,000, TO BE DENO MINATED
"REFUN D!! G Vl.&TER BONDS , SER I ES 1 951," FOR THE PU RPOSE OF RE FUND I NG A LIKE AM OUNT
OF BON D..;D n;r;:.B TE D}"!"~SS OF SJ ... ID c ITY t PRES CRI BING TH ~ Ii'Oru.~ OF SAID REFUND ING BONDS
AND PR OVID U~G Fon TI :E L l!.VY .AND COLL l!.:C'f ION OF m Affl':U h L TAX AN D THE APPLICATIO N
OF :ME T REVENUES FROl.: Sb.ID SYST EM TO P.b.Y TH t: SM.lli i PHI NCIPAL AND I NTEREST." was
duly Passed and Adop t e d and pub ished in the Eng ewood Press in it is s ue of Decem-
ber 1 3 t t . 1 0 5 1. as requ ired b y the S t a tutes of th e S tate of Colorado.
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