HomeMy WebLinkAbout1948 Ordinance No. 017B Y A U T H 0 R I T Y. ---------
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" AN ORDDT A.."1CE T O c rr!TRACT A}T r :n::m TED 1'T:.SS mr BIBALF OF 'l'Iffi CIT'! OF ENG LE.'/O OD' ARAPAHOE
crn:nm ' COLORA.00 ' AUD UP OU Tm.: CHE DI T THER:OOF BY ISSUING BO!ID S OF S .UD CITY IN '!HE PRIN"-
Cll'AL SUJ : OF ~2 ,0 0 0,000 F OR TH E P URPO SE OF ACQUIRING A l!UN ICIPAL SYm'EM OF WATm VlORXS
FOR F IRE A.ND na.-: .ST I C PURPa:;Es ' T O BB 0 1nTJ.:D »ID OP ER ATED BY THE c ITY' PRESCRIBING THE
F OR.I OF SAID BOND S AfID PROVIDnm FOR Tf lli LT~ OP TAXF.S A.ND THE APPLICATION OF m..~ REVENUES
OF SAID SYS T!l~ TO PAY SA I D BOiTD S AlD TIIF. Dl'l"'....lm ST 'l'P.ERE ON.
i7HEREAS, a o aj ori t y of th e taxpaying electors ot th e City of :Engl ewood, Arapahoe CoUDt7,
Co lor ado, v ot i ng on qu e st i ons sub rn i•ted at an election held in said City on October 8, 1948,
by their v ot e authorized sai d City to erect a municipally owned waterworka system tor said City
an d its i nhabitants, and a pprove d Ordinan ce No. 12, ot •aid City adopting a plan tor the ac-
quiei ti on or a municipally ow n e d wat erwor ks s ystem, which ordin an c e provide s f or the issuance
ot g ener al oblic ation bon d s of t he City in t h e pr i ncipal amount ot )2,000,000 tor such purposes;
and
.nlER..~AS, t h e Cit y Counc i l of said City deem s it necessary and advisable to provide for the
issuance f r om time to tir.1e of s aid bon ds;
.:::ro~, 3:·: I T ORDAil!1 D 13 Y TF.'. CI TY COUNCIL OF 'llG CI TY o r EN GLE .fC OD ,
ARAPAHO}. cou;;r-,· t CO LO R /~J O :
SECTION 1. That for t h e pµrp os e ot providing funds to acquire a municipally owned waterworks •Y•-
t ec t or s aid City and i ts i nhabit an ts, s a i d Cit y s h all from time to time issue ne g otiable bonds
i n t he ageregate princi ry"l amoun t of ~2,0 00 ,0 0 0, to oonaiet of bonds in multipals ot .)l,000,
payable i n l awf u l money or t he United St ates of Am e rica, to bear int e rest tran and atter the
firs t day or Decembe r, l Q4 8 , pn ~mb le s em i-annually on th e first days of June and December in
each year at the follow i ng r a t e s: ~361,0 0 0 at th e rate or 2 3 /4t'/, per annum; ~435,000 at the rate
or 3~ per ann uc ; )540 ,00 0 a t the r ate of 3 l/4fe per ann um ; and .)679,000 at the rate or · ~
3 1/2,j pe r an num . Sai d b ond s sh a ll ma t ur e Dec em ber 1, 1 9 63, but shall be redeemable at any
t ime aft er dat e. The pr incip a l of and intere st on said bonds ahall be pay ab le at the office
ot t he City l'r e aD urer, in 1:n g l e wo od, Colorf\do . Said bonds shall bear date De cember 1, 1948,
an d s ha l l be signe d by t he L ayer, at t est e d by th e City Clerk , un der the offici a l seal of said
City , co mt ersigncd by th e Ci t y Tr easur e r , an d s hall be recorded in a boo k to b e kept by said
City Tr e asurer f or ·that purpo s e .
SF.CTI 2 . That the s a id bo n ds s h a ll be i n sub stantially the to l l o~in e form:
"TAT::::S OF .Ar.'C~RICA
STA ,: I 01.i' CC LOR AD O
COU-"'T'l Ol AH A? AllOJ:. CI TY OF E1TGLRllOO D
'/ATE R BO ND
No . ~l,000
Th e City of Eng l e wood , in t he Count y or Arapahoe and Stat e of Colorado, aolmow-
l edp,es itself indebt e d and h er eby p romises t o p ay to th e bearer he r eof, the s um of
n m THOUSAJID D0 LIARS
on t he l at day of De c eo ber , A. D. 1963 , with i nt er e st thereon at the rate of per
oentw:i ( _ ~) per ann um , p ayable semi-annually on the lat days of J une and December in
e a ch year , both princi p '.l l and int e r e st being p a y a ble in lawful money or the United States of Amer-
ic a , at t he of fice of t he Cit y Tre a surer .._ in ~·:n l?,].ewood, Colorado.
Th is bond is r edeem able at t he option of the City any time after its date. Thia
bond i s i s s ued by th e Cit y of En g lewo od, Color ado, for the purpose of acquiring a municipal •1•-
t em of' water works for tire an d dom e st i c purpos e s, to be owned and operated by the City, under the
a ut h ority of and i n fu l l confor llli t y with t he Con stitution of the state of' Colorado, the prov1~
aions of' Chap t er 163, Colorad.St atut e s Annotated, 1935, and all other lawa thereunto enabling,
mi d purs uant to an Ordinanc e or s aid City du ly adopted and made a law of said City prior to the
iaauanc e of this bond .
It i s h ereby c e rtifi ed and r e cit ed th at all requirements or law have been fully
c omp lied wi t h by the pr ope r off ic e rs or s ai d Ci t y in t he iasuanoe or this bond; that the total
debt ot sai d City, including tbelt of this bond, doe• not exce ed any limit ot indebtedness pre-
.ori be d b y the Const i t uti on or laws of the State of Colorado, and that provision baa been made
tor t he l eTY and collec tion or an annual tax and for the application or the net revenues ot said
ay e tem lllltf i cient to pay t he int e rest on and the principal ot thi• bond when the same become
due .
The fai t h an d cre dit or the City of' Eng lewood are hereby pledged tor the punctual
payme nt or t he principal of an d i n terest on t h i s bond.
IN TE STillOO i/HS re :O.B', the Ci t y Council or the City or Englewood baa caused thia
bon d t o b e a igned by the l1 ay or of said City , Attested by the Clerk thereof, under the seal ot the
City, and c ou nt e r ai gn ed by it s Tr easurer, aa of the lat day of Dec CJllber, A. D. 1948 •
(S E A L ) l.~ayor
C ~'lt SI GNID :
A1TF.Sl'.
Tre asurer.
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45·1
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SECTION 3. The agreement or the City to sell and deliver aaid bond• to Peters, writer & Christ-
ensen, inc. and associat e s of Denver, Co l orado, ia hereby ratified and confirmed. Said bonds
ahall be de livered from time to tic e as funds are required by the City tor the PUJ'POSe here-
in specified. The purchasers of s a id bonds sh a ll in no manner be reaponaible tor the applica-
tion or diapoaal by said City, or an y of i•• officer•, ot any ot th e fund• derived from the
sale thereof.
SECTI ON 4. The interest to become due on bonds issued on the firat days of June and December,
194 9, shall be advanced out of the eeneral, water or available fund• or said City. For the pur-
pose or reio buraine such fund, and of me eting the int erest thereatter accruing on said bonds
pranptly an d 3s the same becomes due, and for the purpose ot providing for the ultimate pay-
ment and red emption or said bonds, there sh a ll be levied on all the taxabe property in said C_i
ity, in addition to all other taxes, direct annual taxes in each of the years 1949 to 1962,
inclusiTe, sut"fici ent to produce th e intereat on and the principal ot said bonds issued when
the same become due ~Pspec tively. Said taxes, whe n colleoted, ahall be 6eposited in a special
fund to be knmm as the ".later Bond !<"'und', and such fund ahall be applied solely to the pur-
pose ot th e ~~TLlent of the interest on and the principal or said bonda, and tor no other pur-
pose whe~ever, u nt1: the inl~btedneaa authori zed by thi• Ordinanoe, both prinoipal and inter-
est, shall havP. been fully p a i d , s atisfied and discharged, but nothine herein contained alaall
be so construed as to ~revent sai d City rror1 applyinc .later revenues or any other tunda that
may be in the Cit y ~reasury and avnilable tor that purpoae, to the payment ot said interest
or principal, as the s'.lllle ma t.urea, and up on auch payment• the levy or levies herein provided
may thereupon to that e~ent be diainiahed.
he sums herc inbef ore provided to oee t the interest on suid bonds and to diacharge
the princip a l ther eof when due , are hereby appropriated for that purpose, and said aIIX)unt tor
each year sh a ll also be included in the annual budget and appropriation bill• to be adopted and
passed by the Cit y Cou ncil or said Ci ty i n each year, r Papectively.
SECTI O~ 5. It shall be th e duty of the City Counc il of said City, annually, at the tine and in
the manner provi de d by law for lcvyinc other City Taxes, it such action shall be neoeesary to
effectuate the provisions of t his Ordinance, to r atify and carry out the provisions hereof
with reference to the lcvyinc and c o l lection of t ~:c s; and aaid Council shall r e quire the of-
ficers ot and for said City to leTY, enend and collect · such taxea ln the DBnner provided by
J,mr tor the purpose of creatinf.; a fund for the payment or the princ ~L pal of said bonds and in-
tereat thereoil, and such taxes, when colleotcd, shall be kept tor and applied only to the P81-
ment of the interest and principal of said bonds as hereinbetore apecitied.
~TION &. The City covea .. t9'!?ld agrees that when said aytem ia in operation it will establish,
oaintain and enforce a schedule or water rates and charges tor water furnished from its water
system, nhich rates and charg es, t oc ether with the prooeeda ot tRX l evies hereinbetore speci-
fied, sha ll be sut"ficient to pay hlaint enanoe and operation expense•, the principal ot and in-
terest on said .l a te r :S ends as th e same shall become clue, and a resene fund for such purposes.
SUch revenues are hereby irrevocably pledeed for such purposes and the owners and holders or
said bonds shall have a first and prior lien on the prooeP.ds or such rates and charges after the
payment ot said expenses .
SECTIOB 7. The proceeds of .l ater Don cl s issued pursuant to this Ordinance shall be deposited
in a speci 3l trust ~ccount, shall be wit h drawn only on orders of the City Council and shall be
applied solely to t h e purposes specified herein .
SECTI CN a. Nothing cont a ine d herein sh a ll prevent the issuance of bonds to refund bonds authoriz-
ed by thi9 Or d inance, in order to ext ~nd the time ot payment of the indebtedness to be incurred
to acquire said s y st em , as providP.d in Ordinance :no. 12 of said City. Such refunding bonds
sh 'l ll be authorized by an Or dinance contain ing such terms, provisions and covenants as will amply
secure the payne nt of s a i d refun ,lin(" bonds .
9. All Ordinanc e s, or parts ther eof, in conflict with this Ordinance, are hereby repealed.
---~---10. JJ'ter bon d s ar e issued pursuant to this Ordinance it shall be and remain irrepealable
until such bonds and th e int e rest thereon sh ~ll have been fully paid, satisfied and discharged,
or refunded.
SID TidT 11. This Ordinance, iu.,ediately on its pass96e, shall be recorded in th e City Book ot Ordi•
nances kept for that purpose, authrnticnted by th e siGnatures of the ?.:ayor and Clerk and shall
be pub l ~shed as required b y law.
SEC1'I C!T 12. Dy r e ason of the f nct t hat th e City nm it• inhabitants are not properly or adequately
supplied 1'i th water at the presen t tiue , and in view of th e ract that t he Ci t :r has only a limited
time in nhich to a cquire water ric;h ts for the propo s ed s ystem, it is hereby declared that an emer-
genc y exists, th a t t h is r r li nance is nec e ssary t o the iru:1e diate preservation of the public peace,
healt h and safet y fJD d s hn ll b e in full forc P and effect five days after publicat ion.
r......,~c·m;"D , r <>a rl ancl ordered p ubl1sh0ll this 22nd day of Uovcmber, 194 8 . in the
::xi ;-..lewood "n t e r nr i se.
( S :., ; .. L) ~/~ -----· --------I.lay or
,.: .. J ,~:n .w."F 'D :'h is 13th day o Decemb e r, A. D. 1948 .
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BrATE OF COLOil!'\.ID )
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I, :~. ·:. 1.nclers Cl'l, City Clerk an<l Re corder of the City of
!"n gle 1o od , C o u,1t ~· or .rO ')fl boe , S tate or Color atlo , do hereby certify th a t the
above an d foregoin g Ordin 31 ce \Va s introd uoe 11 and read in full. an:l on resolution
w as order e d pub lished as a proposed Ordinance for the meeting of November
22nd, 1948 He l d b y the Cou nci 1 on said Date and Sfllle was published December 2nd.
1948 in th e "S ngl.e\'lo od En terprise, and for more than Ten days thereUter and
at a subsequent meeting o f the City Council held December 13~, 1948.
"AN ORDm£;CF. TO CONTRA.CT A!! nmEB TED?TESS ON BlllA.LF OF THE CITY OF ENGLEWOO D'
ARAPAH O}.; c o t.rn n ' ' COLCHADO ' A';'ID UPON TEr CRI!HT THER EOF BY ISSJING BONDS
OF S.lID CITY :m TEE PR:mOIPAL SOM OF :)a;ooo ,ooo · FOR TEE 'PORPOSE .... OF ~TI -
mING A l.!UNI CIPAL SYSTW OF UA.TER \lORI<S FOR FIRE AND DOMESTIC PURPOSES•'"'',
TO BE o:'/NID AND OP EHATED BY THE CITY. PRESECRmnm THE lrORvt OF SAID BONDS ·'
AND PROVIDING FOR THE LEVY OF T AXES AND THE APPLICATION al NF!' REVENUES ' <1r
SAID SYS'l']l.I TO Jil SAID Bmms AND THE nn'1'RESI' THP:REON.
First Pub lioat1on
Last Puol ioat ion
December. 2nd, 1948
Decemb er, 16th, 1948.
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