HomeMy WebLinkAbout1983 Ordinance No. 047'---'
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71)
BY AUTHORITY
COUNCIL BILL NO. 4 7 ORDINANCE No.__d__'J__
SERIES OF 1983 INTRODUCED BY --
COUNCIL MEMBER HIG DA Y
AN ORDINANCE TO CONTRACT AN INDEBTEDNESS ON
BEHALF OF THE CITY OF ENGLEWOOD, COLORADO, AND
UPON THE CREDIT THEREOF BY ISSUING GENERAL
OBLIGATION BONDS OF THE CITY IN THE PR INC I PAL
AMOUNT OF $4,600,000, FOR THE PURPOSE OF
ACQUIRING LAND AND CONSTRUCTING AND EQUIPPING A
COMMUNI'rY CEN'l'ER AND RELA1'ED APPUR'l'ENANCES FOR
THE CITY AND ITS INHABITANTS; PRESCRIBING TH E
FORM OF SAI D BONDS AND PROVIDING FOR THE LEVY OF
TAXES TO PAY THE BONDS AND THE INTEREST THEREON,
AND PROVIDI NG OTHER DETAILS IN CONNECTION
THEREWITH,
WHEREAS, th e C ity Cou ncil haa determined th a t it is
necessary to acquire land and construct and equip a community
center and rel ated ap p urter :dc es for the City and its inhabitants;
and
WH ER EAS , the es tim ate d cost of s uch improvem e nt s is
app r oximate ly $4,680,000, and th e City Council ha s d etermi n<J that
ge ne ral obl;gatio n bo nds of th e City in the amo un t n o t exceeding
$4,6 00 ,000 s ho uld be i ss ued for s uch purpose , wit h the bal ance of
the cost of th e im p r o vements t o be deri ved from interest in~ome o n
bond pro ceeds or other law fu lly available revenu es of the City;
a nd
WHEREA S , at a s pecial municipal election called for
such pu rpo s e on May 17 , 1983 , a majori ty of the regis tered quali-
fied electors of t hP. City voting thereon appr ove d the issuance of
the bonds fo r such p ur po se , th e q ue stio n su bmi t ted being as
foll ow s:
"Shall the City o f Eng lewood, Arapahoe Cou nty,
Colo r ado, b e authorized t o i ssue general obliga-
tion bonds in the princi pa l amount not to exceed
$4 ,680,000 , to bea r int e re s t at a max hn um net
ef fec t i ve in t e re st rate not t o e xc eed 11 1/2%
per annu m, to mature serially within 20 years of
their date , for the purpose of a cquirir,g land
and c ons tructinq and equipping a :c,mmunity
cent e r a nd related a pp urt e nan c e s , for the
City?"
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WHEREAS, th e issuance of the bond s will not e x ceed tile
debt lim itation o f the City1 and
WHE REAS , the City Council has further d ete rm ined
to issue and s ell such bonds to United Bank of Den ver
_________ , in a ccordance with their pr o [l osal dated ,'_~~-_'I ',,
, 1983; and
WHEREAS, the City Council has determin ed at this
time to aut ho rize the is~uance o f bonds in the [l r incipa l amount oE
$4,600,000;
BE I'r ORD AINE D BY 'NIE CI'rY COUNCIL Of Tl-IE CI'l'Y 0 1"
ENGLEWOOD , COLORADO :
Sectio n 1. Autho rization, Th at in a c cord ance with th e
constitution of the State of Colorado , t he hom e rul e cr,urter of'
the City , and the p r ov i sions of this Or di na nce , the C ity s hall
issue its genera l obligat ion bonds , each to be d es ign ated "General
Obliga tion Bond , Series 1983 ", in th e total p rincip al amount of
$4 ,600 ,000 (hereinafter r eferred to as the "Bonds"), in order to
provide funds for the purpose of a cquiring l and and construct ing
and equipping a comm unity center and related appurtenances for the
City and its inhabitants . The Bonds shal l co nstitue general
obligation s of the City , and tha Eu ll faith and ccedit of tha C ity
shall be pledged for the ir payment ,
Sect ion 2, Bo nd De t ail s. That the Bonds shall be
issued onl y a s fully r e gistered Bond s without coupons in the
deno mination of $5,000 each or any integr~l multiple ther eo f.
Un1e ss the City shall othend se di re ct , th e re<Ji s t ered I.l ands
sh al l he n um hP.red serara tcly (rom up~rnrcl , with llle nu111beL· or
eac h Bond preceded by "R-".
The Bond s shall be da ted as of October 1, 1 983 , and
s h all bear interest payable s ·,miannua lly on ea ch June and
Dece mbe r 1 , commencing on Ju .e 1, 1984 , and shal l mature on
the 1st day of December each y ear , as follows:
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Maturity
12/1/190 5
12/1/1986
12/1/1987
12 /1/1988
1 '.i /1/1989
l i /1/1990
12/1/1991
12/1/1992 '
12/1/199 )
12/1/1994
12/1/1995
12/1/1996
12/1/1997
12/1/1998
12/1/1999
12/1 /2000
12/1/2001
12/1/2002
Amount
$105 ,000
115,000
125,000
135 ,000
150,00 0
165,00 0
180,000
200,000
2 15 ,000
240,000
260,000
290,000
)15,000
345,000
380,000
420,000
460,000
500,000
The net effecti ve interest r ate o f thi s iss ue of
Bo nds is9 ~\6 ter annum .
Bond s of th e is sue ma turing on and af t ~. Dece mber 1 ,
1994 , a r e subje ct to re demption prior to 111atutity , at t he op-
t ion o f the Ci ty , as a who l'e or in int e g r a l mu l t i ples of $5 ,000 ,
in inv~r se order o( the ir matu rity, on Dece mber 1, 1993 , n ncl
on any inte r est pay ment date thereafte r, upon p ayment o f par ,
accrued in te rest , pl us a premium of 1% of the principal amount so
redeemed .
If less than all o f the Bond s wi thin a mat urity dat e are
to b0 redeemed on any prio r r edemp tion date , th e Bon ds t o bu
r edee11 ed s ha ll be selecte d by lot, in such ma nne r as t he Bond
Registrar shal l d ete r mine, provi ·ad tha t suc h s ele ction shall
no t h ave an ad ve r se effect upon t ho ability of the City to pay
th e pr incipal of the Bo n ds outstanding . The Bonds shall b e
red eeme d onl y in int egral multiples or: $5 , .. ~0. I n the e v ent a
Bond is of a denomina tion larger than $5,000, a portion of suc h
Bond may be redeeme d , but onl y in the p rincipal a,0 ount ol' $5 ,00U
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or any integr ~l multiple thereof. Such Bond shall be treated for
the purposes of red emp tion as that number of Bonds which result
from dividing the principal amount of such Bond by $5,00 0 ,
In the event any of the Bonds or portions thereof (which
shall be in amounts equal to $5,000 or any integral multiple
thereof) are called for redemption as aforesaid, notice th ereof
identifying the Bonds or portions thereof to be redee11,ed will be
giv e n by the Bond Registrar by mailing a copy of the redemption
notice by first cla ss mail (postage prepaid) not more than 30 days
and not les s t han 15 days prior to the date fixed for redemption
to the registered owne r of each Bond to be redeemed in whole or in
p art at the address shown on the registration book s maintained by
the Bond Resistr ar. Failu re to gi ve such notice by mailing t o a ny
Bondholder, or any defect therein, shall not aff ~ the validity
of any proceed ing for the redemption of other Do nd s . All Bond s so
call ed f or rede mption will cease to bear interest afte r the
specified red e mption da te provided funds for their redemp tion are
on d eposit a t t he place of payment at tha t time .
If the date for payment of the princ i pal o r interest on
this Bond shall be a Satu rd ay , Su nday, legal hol id ay , o r a day on
which banking institutions in t he city where the corporate trust
office of the Paying Agent i s located are autho ri ze d by law o r
axecutive orde r to close, then t he date for such pay me nt shall be
the next suc ceeding day which is not a Saturday, Sunday, leg a:
holiday , or a day on wh i c h such banking in s tit uti ons a r e author-
iz e d t o close , and payment on su ch dat e shall have the same force
and effect a s if ma d e on the normal date o f pay ment.
Se ction 3 . Paying Agent an d Do nd Registrar. The
pr incipal of th e Bon ds sh all be payable in lawful money of the
United States of America at Affi liated F ir s t National Bank of
Englewood , in Englewood , Co l orad o , or i ts s uccessor, as paying
agent ( the "P aying Agent") to th e regis t ered o ne r of ea ch Bond
upon pr esent ation the r eof . Notwithstanding an ything contained in
t his Ordinan ce to the contrary , inter e st o n the Bonds shall be
payable to the perso n in who se name s uch Bond is registered at
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his address as it appears on the registration book s maintained
by or on behalf of the Di s trict by Affi li ated First National Bank
of Er ~lewo o d, in Englewood, Colorado , or its successor, as bond
registrar (the "Bond Registrar"), at the ciose of business on th e
Record Da te , such date being the fifteenth ( 15th) day of the
calendar month next preceding the interest payment date, ir-
re spective of any transfer or exchange of such Bond subsequent to
such Record Dat e and prior t o s uch interest payment date. Such
payment shall be paid by check or draft of the Paying Ag e nt.
Section 4. Form and Execution of Bond s . The Bonds
shall be signed with the facsimile signature of the Mayor of
the City, sealed with a facsimile of the seal of the City, and
attested by the facsimile signat ur e of the Di rector of Fi nance,
ex-officio City Clerk-Treasurer , Should any officer whose fac-
simile s ig nature appears on said Bonds cease to be such officer
before deli ve ry of the Bonds to the pur ch as e r, such facsimile
s ignature shall nevertheles s be valid a nd sufficient for all
purposes .
The Bonds shall · be in sub s tantiall y the f o llow ing
form:
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No, R-__ _
(Form of Bond)
(Front of Bond)
UNITED STAT ES OF AMERICA
STATE OF COLORADO
COUNTY OF ARAPAHOE
CI TY OF ENGL EWOOD
GENERAL OBLIG ATION BOND, S ER IES 19 83
$ __ _
The City of Eng l ewood, in th e County of Ar apahoe a nd
State of Colorado, for value rece iv ed, h ere by acknowl e dg es itself
indebt e d and promises to p ay to
_________ , or regi s tered as s igns, on December 1, 19_, the
principal sum of
Dollars ($ _____ ) and in li k e mann e r to pay in terest on such
p rinci pal amo u nt (computed on th e basis of a 360 day y ear o r
twe lve 30-day months) from the interest pa y'11ent date nex t pre-
ceding the date of reg ist rat i on and authenticatic,n of th i s Bond ,
unless this Bond i s regi stered and authenticated prior to Jun e 1,
1984 , in whi ch event th i s □o nd shal l bear int e re st fro m Oc tober 1,
1983, at the ra te of pe r centum ( ___ %) per
an num , payab l e on June 1, 1984 , and semi ann ually t hereafter o n
De cemb er 1 and June 1 each ye ar , unti l s uch pr i ncipal amount is
pai d , u nle ss this Bo nd shal l have been p rev iously called for
r edempt i on and payment s ha ll h ave bee n duly made or provided fo r,
The principa l of this Bond i s payab l e in lawful money of th e
Uni te d States of America at Aff iliated F irst Nat ional Ban k of
Englewo od , in Englewood , Colorado , or it s successor , as paying
age nt (the "Pa ying Age nt ").
Paym~nt of each in s tallme n t of interest s had be made
to the regis tered owner hereof who shall appear on t he registra-
tion books of the City maintained by Affiliated Fi rs t National
Bank o f Engl e wood , i n Englewood , Co lorado , o r il:s s uc cessor , as
bond reg istra r ( t he "Bo nd Registrar"), at the c l ose of business on
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the 15th day of the calendar month next preceding the interest
payment date and shall be paid by check or draft of the Paying
Agent mailed to such registered owner at his or her address as it
appears on such registration books.
REFERENCE IS HEREBY MADE TO FURTHER PROVISIONS OF THIS
BOND SET FORTH ON THE REVERSE HEREOF WHICH FURTHER PROVISIONS
SHALL FOR ALL PURPOS ES HAVE THE SAME EFFECT AS IF FULLY SET FORTH
IN THIS PLACE.
This Bond s hall not be va lid or becom e obligatory for
any purpose or be entitled to any security or benefit under the
Ordinance authorizing this Bond unti the cert if: <:ate of authen-
ti ca tion h e reon s hall have been sign e d by the Bond Registr a r.
I N TESTIMONY WH EREOF , the City Council of the City
o f Eng lewo od , Col o rad o , has caused t h i s Bond t o be signed by
t he f a c s i mile si gn atur e of th e Ma yo r of t h e City, s ea l e d wit h
a facsimile of th e s e al of the City, and at t ested by the fac-
si mi l e signatur e of the Direct o r of ~inan c e, ex-o f ficio City
Clerk -Tr eas ur er the t eof , all as of th e 1s t d ay of Oc t ober, 1983.
(FA CSIMI LE
S E A L )
A''TESTED :
(F acsi mile Signat ure)
Di r e cto r o f Finance
e x-o f fi ci o City Clerk-Tre a sur er
CITY OF EN GL EWO OD, COLORADO
By : _ _,_( "--F"--a-"-c-"s-"-i"'m""i~l~e~S~i ... 9~n"'a~t~u""r e.c.....) __
Ma yor
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[Form of Bond Reg i strar's Certificate of Authentication]
CERTIFICATE OF AUTHENTICATION
This Bond ls one of the Bonds of the issue described in
the within mentioned Bond Ordi nan ce.
Date of Registration
and Au ~hentlcation:
AFFILIA TED FIRST NATIONAL BANK
OF ENGLEWOOD
as Bond Registrar
By
Auth o rized Office r
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( Back Ol JOnd)
ADDITIONAL PROVISIONS
This Bond is one of a series aggr e gating Four Million
Si x Hund r ed Thousand Dollars ($4 ,60 0,000) par v alue, a ll of
lik e date, tenor, and effect except as to number, principal
am o unt, and date of maturity, issued by the City Co unci l of the
Ci t y of Engl e wo od , in the County o f Arapaho e and State of Colo-
rado, for the purpose of acquiring land and co n s tru c ting a nd
equipping a com mu nity center and r elated appurte nances for the
City, by virtue of and in full con f ormity with the constitution of
the State of Colorado, the home rule charter of the City, and
p u r s uant to an Or d inance a uthorizing the issuance of the Bond
d ul y adopted, published, a nd made a law of the City prior to the
i s s uance of t h e Bond . I t is he reby c e rtified and rec ited that
a l l o f the req u i rements of law h a ve been fully c o mplied with by
t he pr o p er office rs in i s suing thi s Bond .
It i s he r eby furt her ce rti fi ed, r e cited, and warr a n ted
th a t t he t o ta l I nd e btedn ess of the City, Including that of
thi s Bond , do e s no t exceed a ny limi t pr e sc ribed by the const itu -
t ion o r l aw s of th e State of Colo rado or the charter of the Ci t y;
tha t at a spe cia l muni ci pa l e l e ction lawfully h e ld within th e
City o n May 17, 19 03, the iss uan c e of this Bond was duly author-
ized b y a majo rity of the registe r ed electors of the City qual i-
f I e d to v ot e an d VO t in g at said el e ction; and that prov ision
ha s b een ma d e fo r t he l evy a nd collect Ion of a general ad val o rem
t a x on a ll the t axa bl e pr o pe rty within the City , without limi -
t at i o n a s t o r a t e o r amou n t , t o t he e xtent other funds are not
ma de a vailabl e fo r su c h pay men ts , sufficient to pay the interest
o n and th e pr i nc i pal of t h is Bond as the same respectively become
dut .
The fu l l fait h a nd cr e dit o f the City are hereby
p l e dg ed for t he punctu al pay me nt o f th e p rinc~pal of a nd the
i n t er est on this Bo nd .
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Bonds of th e issue of whicr this Bond is one maturing on
and afte r December 1, 1994 , are sub j ect t o redemption prior to
maturity, a t t he op tion o f the Ci t y, a s a whol e o r in integral
mu l ti ples of $5,000, in inver s e order of th e ir maturity, on
December 1, 1993, and on any i nterest payment datf, thereafter,
upon payment of par, acc r.ued interest, plus a premium of 1\ of
the principal amo~nt s o red ~e med.
If le ss t ha n a ll of the Bo nds wi t hln a mat u~i ty da te ar e
t o t-e red ee med on a ny p ri o r re d em p tio n date , th<> Bo nds to t>:
re d eemed sha l l be s elected by lot, in s uch man ne : as the Bo nd
Re g i s tr a r sh a l l de t e rmine, p r ov i ded that such s ele ctio n shal l not
ha ve a n adve r se effec t upon the a bil ity of t he City to pay t he
pr inc i pal of the Bonds ou t standi ng. •r he Bo nd s shall be r e d eeme d
o nly in int eg r al multipl e s of $5 ,00 0. In th e e vent a Bo nd i s o f a
d e no mi na t i on l arg e r than $5 ,0 00 , a po r tio n of s uc h Bon d may be
r e d eeme d, bu t o nly in t h e p r incipal a mo un t of $5 ,0 00 or any
integral mul t i ple thereo f. Such Bon d s ha ll be t reated fo r t he
pu rposes ~f red em ption as that number of Bonds which res ul t f r om
dividing the rrincipal amou~t of s uch Bo nd by $5 ,000.
In the event any o f the Bond s or portio ns thereof (which
shall be in amou nt s equal to $5,0 00 or a ny in te gr a l mult iple
thereo f ) are called for r edemption as aforesa i d , no tic e thereof
id e ntifying the Bonds o r portions the r eof to b e red eemPd will be
given by the 9ond Re g i strar by mai ling a copy of th e red emp tion
notice by f i rst c lass mai l (postage prepaid) no t more tha n 30 d ays
and not less than 15 days prior to the date f ix e d f or r e d emption
to the regi stered owner of each Bo nd t o b e re d eemed i n wh ol~ o r i n
part at the address shown on the regi s tration books maint a i ned by
the Bond Registrar . Failure to giv e such no t ice by ma il i ng t o any
Bo ndholder , or any defect there in, sh a l l no t affe c t t he validity
of any proceeding for the redemption of o t her Bonds. All Bonds so
called for redempti o n wi ll c e ase to b ear int e r est aft er th e
specified r edempt ion dat e provided fund s for their r ed emption a re
on deposit at the place of payme n t at t h at t ime.
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If the dat e for payment of the principal of or interest
o n this Bond shall be a Saturday, Sunday, legal holiday, or a day
on which banking i n sti tution s in the city wh erA the corpor a te
trust office of tr.e Paying Agent is located are authorized by !aw
or e xecutive order to clos e, then the date for such payment shall
be the next succeeding day which is not a Sa turday, Sunday, legal
holiday , or a day on which s uch banking in stitut~on s are author-
iz e d to c l o se , and payment o n s uch dat e s •1all h av e t he same for c e
anG e ffe ct as if ma de on the nominal date o f pa ym P nt
The Bonds are issuable on ly in the form of registered
bo nds without c o upo ns in the denomination of $5 ,000 e ach or any
integral multipl e th ereof. 'fhe Ci ty and th e Bo nd Registrar
sha l l not be r eq ui red: (a ) t o issue or tran sfer a ny Bond s during a
period b e gi n ning at the opening of bu siness o n the fift e enth
( 15 th) day of the calendar month next preceding any inte r e st
pa y me nt da te o r du ring t he pe riod b eginning on any date ot selec-
tion of Bonds to be redeemed and ending at the clo s e of bu s i n e ss
on t he i nte r est payment dat e or d ay on whi ch the a pp licab l 2 n o tice
of rede mpt i o n is given , or '(b) to trans fe r any Bo nds sele c ted or
cal l ed for re demp tion i n wh ol e o r in part. 'f he C i ty and the
Bond Registrar may d e,rn1 and treat th e r egi s te r e.l o wn e r h e r eo f as
t he absol ut e o wn er here o f (wh e ther or n ot this Bon d sh all be
ov erd ue) f o r the pur po s e of receivi ng payme nt o f o r on accoun t of
principal h ereo f and interest due hereon and f o r a ll other pur -
pos e s , a n d n e i the r t he City nor the !Jond Re gis t r a r shall be
af fe c ted by an y notice to the contrary.
The Bo n j i s tr a nsfe r a bl e by the r egiste r e d owne r hereof
in person o r by his a tto rney d u ly a u tho ri z ed in writing , at the
pr i ncipal offi c e of t he Bo nd Re~·istrar , but on ly in t he manner ,
s ubject t o the limit a,ion s , and 11pon payment o f the cha r ges pro-
vided herein , and upo n s u r r end e r and c ance ll a ti o n of thi s Bond .
Upo n such trans fer a new Bon d or Bon ds of t he same ma t urity or
maturi t ies and of autho riz t::d d e nomin at i o n o r d e nomi nations , for
the same aggregate princ ipal amount , will be i ss ued to t he trans -
feree in e xchange the r e,or . Bo nds may be trans ferred u po n th &
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registration books upon delivery to the Bond Regist r ar of the
Bo nd s , accompanied by a written instrument or instruments of
transfer in form and with guar .,nty of nignature satis factory to
t he City and the Bond Regi s trat·, duly ,?xecuted by the owner of
the Bonds to be transferred or his attorney-in-f a ct or legal
i:epresentative, co ntain ing writ ten instruct ions as to the details
?f the transfer of such Bonds, along with the social security
number o r federal err,ployer id;,ntification number of such trans-
fer e e, and, if s uch transferee is a tru s t , the name and social
secur i ty number of th e se ttler of th e pro posed tr a n s f e r ee . I n a ll
cases of the transfer of a Bond, the Bond Regi s trar sha 11 enter
the transfer of ownership in the reg i stration books and shall
aut h enticate and deliver in the name of th e tran sfe r e e o r tran s -
f e r e es a new fully reg i stered Bond or Bonds of authorized d e nomi -
nations of the same maturity and interest rat e for the aggregate
pri nci pa l amount which the registered owner i s entitled to r e c e i ve
at the e a r lies t practicable time . The City or the Bond Registrar
may cha rg e th e own e r o f such Bond for every s uc h tr a nsf er of a
Bo nd an a mo un t s uffici en t to r e i mbu r s e t hem fo r :he i r r e a so na ble
fe e s and a ny L~x, f ee , or othe r g ove rn me nt a l ch a rg e req l1ired to be
p a id with r espe ct t o such t ra ns f er, a nd ma y r e quir e t hat s uch
umount be pai d bef o r e a ny s u c h n ew Bo nd s hal l be d el i v ered.
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(Form · < Tran sfer)
ASSIGNM ENT
FOR VALUE RE CEIVED, th e undersigned sells, assigns, ~nd
transfers unto ____________________ _
PLEAS E INS ERT SO CIA L SE CURITY OR OT HER
IDEN Ti f'YIN G NUMB ER OF ASSIG NEE
(Name a nd Addr ess of Ass i g nee)
the withi n Bond and does hereby irrevocably c onstitute a nd a p-
po int :,--7c--::-,:-;--,-,;,-:-.,-,-::c~==-=-.:-==--. -:::--=-:--.,-.,.--.,.,,.,,-,· atto r ney , t o t r a nsfer t he said Bond o n the book s ke pt f or reg is t ration t he r e of
wi th fu ll power of s ubstit u tio n i n the premises.
Da t ed : __________________ _
Signat ure gu aranteed :
(Da nk , '!'rust Com pdny or Firm)
NOTICE: The signature to this assignment
mus t cor r espo nd wi t h th e name of th e
r egi ste r e d ow ne r as i t appears upon th e
f ac e of t he wi t hin Bond in every
par t icular , wi t ho ut alt e r a tion or en-
largement or a ny cha ng e what e ver.
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Sect ion 5, Authentication. No Bond shall be valid or
'-· obligatory for a ny purpose or be entitled to any security or
benefit under this Ordinance unless and until a certificate of
auth e ntica tion on such Bond substantially in the form her e inabov e
set forth shall have been duly executed by the Bond Registrar , and
such execut ed certificate of the Bond Regi st rar upon any such Bond
shall be conclusive evidence that such Bond has been authenticated
a nd del iv ered unde r t his Ordinan ce , The Bond Registar's certifi-
cate of authentication on any Bond s hall be de e med to hav e been
executed by it if signed by an authorized officer or sign atory of
the Bond Registrar, but it shall not be necessary that the same
officer or signatory s ign the certifi cate o f authe nti ca ti o n on all
of the Bo nds i ss ued hereunder .
Sect ion 6. Delivery of Bond s . Upon the execution and
de liv e r y of this Ordina nce , the City s hall execute and de liver to
t he Bond Regi s tra r , a nd the Bon d Regist rar shall authenti ca t e , the
Bonds and deliver the m to the pu r chase rs ther eo f as dir e cted by
the City ,
Sect i on 7. Regis trati o n a nd •rransfer of Bo nd s : Persons
Treated as Ow ner s . (a) The Dond Registr ar s hal l maintain the
books of the City fo r the regis tration of ownership of eac h
Bond as prov i ded 1n this Resolut ion. The Dond Reg istrar sh all
accep t a Bond for registration of ownership on ly if ownership
the reof is to be registered i n th~ name of an individual, a
corporation , a partnership , o r a trust , und onl y upo n receip t of
the name and address of ~a c h owner , the social security number of
each individ ual, the tax idi.nt i f ication number of each corpora-
tion, partnership , or trust , a nd the social se c urity numbers of
the settler and ben eficiar ies of each trust ,
(b l Bonds may be transfe rr ed upo n the reg i s t tatinn bo oks
upo n de liv ery of t he Bonds to the Bond Registrar , accompanied by a
written instrume nt or instruments of t r ansfer in fo rm a nd with
guar anty of sig natur e s atisfactory to t h e City and the Bond
Registrar , duly executed by the owner of the Bonds to be trans-
fe r red or his attor ney -in-fact o r lega l r eprese n tat iv e , containing
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1ritten instructions as to the details of the transfer of such
Bonds, along with the so cial security number or federal employer
identification number of such trans fere e and, if such transferee
is a trust, the name and social security number of the settler of
the propos e d transferee, In th e evenL th a t a Bond is to be
regist,,red in the name of a nominee, the requisite information
shal l be provided for the principal rather tha n such nominee. No
transfer of any no nd s hall b e effectiv e until e nt e red on th e
registration books.
( c) In all cases of the transfer of a Bond, the Bond
Registrar shall enter the transf er of ownership in the registra-
tion books and shall authenticate and deliver in the name of the
transferee or transfere es a new ful ly r egi s t e red Oo nd or Bond s of
authorized denominations of the sam e maturity and int eres t rate
f o r the aggregate principal amount which the r~gister e d owner i s
entitled to re ceive at th e earliest practicable time in accordance
with th e provision s of thi s Ordinance. The Ci t y or the Bond
Reg istrar may ch arge th e o wn er of s uch Bond for e very s uc h t rans-
fer of a Bo nd an am ount sufficient to r e im bur se them for their
reasonable fees an d any t ax , f ee , or other governmental c harge
required to be paid with re spect to s uch tran sfe r, and may re-
quire that such amount be paid befo r e any such new Bon d sh al l be
de liv ered .
(d) The City and Bon d Registrar shall not be re -
quired : (i) t o i ssue or tr ans fer a ny Donds during a period be -
ginning at the close of business o n th e fift ee n th (1 5th ) d ay of
the ca l endar month ne x t pr ec eding e ith e r any int e r est pay ment date
or any date of s el ec tio n of Bonds t o be redeemed and end ing a t the
close of bus in ess o n the interest pa ym en t dat e o r day on which the
applicable not ice of redemption is given, o r (ii) to transfer any
Bonds se l ected or called fo r redem p t ion i n whol e or in part.
(e) Ne w Bo nd s delivered upon a ny t ransfer s hall be valid
general obligat ions of t he City , ev id e ncing the same debt as
the Bo nd s s urrendered , sh all be secured by this Ordinance , and
shall be entitled to all of t he security and benefits he reof to
the sam e extent as t he Bonds sur rend ered ,
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\...., (f) The City , Bond Re gis t rar, Pa ying /\ge nt, a nd a ny
add it ional paying ag e nt or bo nd registrar may tre at the r e gi s t ered
o wn er of any Bond as the absolu t ~ owner thereof f o r all pur po ses,
wh e t her or no t s uc h Bon d s ha ll b e ov e rdu e , and any notic e t o the
c o nt ra r y s hall no t b e binding u po n the City or the Bond Regi str a r .
Se ct io n 8. Des truction of Bond s. Th at wh e never a ny
out s ta nding Bon d s hall be d e li ve r e d to th e Bond Reg i s trar f o r
ca nc e llati o n p ur s uan t t o thi s Ord i nan ce and upon payme n t of th e
p r i ncipal amount a nd inter es t r ep re sent e d th e reby o r f or tran s fe r
pu rsu a nt to Sec t i o n 7 he r e of , s uch Bo nd s hall be can ce lled a nd
destroye d b y t he Bo nd Regi s tra r and counterpart s o f a certificate
of d es tru c tion e v i d e nc ing s uc h d e s tru ctio n s hall be f u rni s hed by
the Bon d Regi s trar t o the Ci t y ,
Sect i on 9 . Di s po s i t i on of Bo nd Pr oc e ed s . Wh e n t he
Bonds ha v e bee n du l y execu tt!d , th e Di re c t or o f Fina n c e i s hereby
dir ected to d el i v e r th e Bonds to t h e pu rch a s er th er eo f upon
r eceipt of t he agreed purchase pr i c e the r efor . Th e p r o c eeds o f
the Bonds shall be used onl ~ for t he pu r pose of ac~uiri ng la nd and
c o n struct i ng and equ i pp i ng a c omm u nity c ente r a nd r e l a t e d appur -
tenances for the City an d i ts inhabitants , and for pay i ng the
cos ts and e xpenses incur r ed incid e n t al t o th e i s s ua n c e o f said
Bonds , and for no other purpo se whate ver,
Al l or any po rti on of th e Bond pr oceed s may be t e m-
porarily invested , or rei nves te d, pe nd i ng s uc h u se , i n s ecu ri t i e s
or oh liqation s whi c ll are l awfu l inves t me n ts fo r such munic-
ipalitier. in the S t ate of Colorad o . It i s h e re by cove na nt e d a nd
agreed by th~ Ci ty t hat t h e tempo r ary inv ez t ment or r e i nvestme nt
of the Bond proceeds , or any por tio n the r eof , s ha ll be of s uc h
nat ure and extent , and fo r such per i od , t hat t he Bo nd s sha ll not
be or become arbitrage bo nd s within the mea n ing of S ec t i o n 103 (c )
o f the Internal Revenue Code o f 19 54 , as am er.ded , a nd p ertine nt
re gu l ations , ~nd such p r oceeds , i f so inv est ed or r e in v este d,
shall be subject to the limit a tio n s an d r e s tric tio n s o f s a id
Section 103 (c) and pe r tinent regulations as th e s ame now ex i s t or
may ldter be amended .
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Neither the purchaser of the Bond s nor the subsequent
holder of any of them shall be responsible for the app lication or
dispos al by the City, or any of its officers, of any of the funds
derived from the sale thereof.
Section 10. Payment of Principal and Interest, If
nece ssa ry, the amoun t of interest due on the Bonds through June 1,
1984, may be advance d from any available funds of the City, or
from the proceeds of the Bonds authori ze d by this Ordinance. For
the purpose of reimbur s ing such fund s and p~ying the interes t on
the Bonds as the same shall thereafter b ecome due and providing
for the ul timate payment of the Bonds, there shall be levied on
all the taxabl e property in the City, in add itio n t o a ll other
taxes, g eneral ad va lorem taxes in each of the years 1983 to 2001,
inclusive, witho ut limi tation as to rate or amount, s ufficient to
make su ch reimbur sement and pay the interest on all of the Bonds
o u tstanding, and t he principal thereof, as the same become due and
payable, respective ly.
Said ta xes , when _c o llect ed , shall be app li ed sole l y to
the purpose o f the payme nt of the int e r est on and princ ipal of
said Bo nd s and fo r no other purpose what e ver, until the llonds ,
bot h pr incipal and interest, sh all have been fully paid, satis-
fied , and discharged . Not hing herein contained shall be so con -
strued as to p r even t the Ci ty from applying any other fund s or
revenues that may be in the City trea su ry and available for that
purpose to the payment of sa id llonds and the intere st thereon.
Upon the application of such funds ur revenues as aforesaid, th e
levy or levies herein provided may the reupon to that extent be
di minishe d .
The sums herei n provided to pay the interest o n said
Bonds, and to discharge the principal the r eof when due, are
hereby appr op riated for that purpose , and said amounts for each
yea r shall also be included in the annual bu dget and the appro-
pr lation bills to be adopted a nd pa ssed by the City Counci l of the
City in each year , r espec tiv el y.
It shall be the duty of the City Council of sa id City,
unnuully , at the time and in the manner pr o vided by law for
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levyin<1 other City taxes , if such action ohall be neces sary to
\,.__, effectuate the provi s ion s of thi s Ordina nce , to ratify and ca rry
out the provisions hereof with referenc e to t h e l evying and
collection o f taxes; and such taxes, when collected, s h all be kept
for a nd applied only to the payme nt of the interes t on a nd prin-
cipal of said Bonds, as hAreinabove specified.
Section 11. Defeasance . When all prin c ipal, in terest ,
and prior redem ptio n premium s , if any , in connection with th e
Bonds hereby authorized have be e n duly paid, th e pledge and lien
a n d all o bl igatio ns hereu nder sha ll thereby b e di scharged and the
Bonds shal l no longer be deemed to be outsta nding wi t hin the
mea ning of this Ordinance . There sh all be deemed to b e s uch due
pa,-ment wh en the City has placed in escrow a nd in tr ust wi th a
commercial bank loca te d withi n or without the State of Co lorado,
and exercising trust powe rs, an amount s uf fic i e nt ( including the
known mi ni mum yi el d from Pedcral Securiti es in whi ch suc h amount
ma y be initially inv ested) to meet all requ i re:nents of pri ncipal,
inte rest, and prior redemption premium , i f any , as the s ame be c ome
due to their final ma turities or upon de sig nate d prior r e demption
dates . The Federal Securiti es sha ll become due a t o r prior to the
re s pect iv e time s o n whi ch the pr oceeds t.h ereo ( ~•hu ll h e needed , in
a ccord an ce with a schedule established and agreed upon between the
Ci ty a nd such ban k at the time of t he cr eat i on of th e escrow , o r
the Federal Securities shall be subject to re demption at the
opt ion of the holde rs th e reof to assure such ava i labili ty as s o
needed to me et sucl1 s chedul e . ·rh c ter1n ''F ede ral Securities ''
with'.n the meaning of thi s section shal l include only direct
oblig at ions of , or obligations the principal and in t erest of which
a re unco nditionally guaranteed by , the Unit e d States of America.
Section 12. Approva l of Pre l im inary Official SLateme nt
an d Authoriz at ion of Final Official Statement. That the Pre-
liminary Officia l Sta te me nt da t ed August 1, 1983 , relating t o
the issuance of the Bond s is he re by ap proved in th e form pre -
se nt e d a t this meeting , with s uch amendme nt s an& with any Adden -
dum a, deter mined nece ss ary by th e City. The Ci ty Council
hereby authorizes th e p reparation of a fi nal Official Statement ,
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with any Addendum as determined necessary by the City, to be
distributed in conjunction with the Bonds, which Official State-
ment shall contain any updated Information regarding items de-
scribed in the Preliminary Official State~,nt which become s known
to the City prior to the date of delivery o f the Bonds,
Section 13. Severability, That if any one or more
sectio n s or parts of this Ordinance shall be adjudged unen-
forceable or inv alid , s uch judgmr.nt shall not affect, impair, or
invalidate the remaining provi s ions of this Ordinance, it being
the Intention that the various provisions hereof are severable.
Section 14, Repealer. All ordinances or parts thereof
in conflict with thi s Ordinan ~~ are hereby repealed.
Section 15. Ordinance Irre pealable . After t he Bonds
are issued, this Ordinance shall be and remain i rrepealable until
said Bo nd s and t h e interest thereon shall hav e be e n fully paid,
sa t isfied , and discharged ,
Sect i o n 16 . Hearing . In accordanc e with Se ction
40 of the Ci ty Cha r ter , the City Council s h a ll hold a public
he aring on thi s Ordinance, ·before f inal passage, at 7:30 P.M. on
Tu esday , September 6 , 19 83 .
Section 17 . Publication and Effectiv e Date . This Or-
dina nce , after its final pa ssag e , s hall be n umbered a nd re corde d,
a nd the adoption and pub li c ation shall be auth e nticated by the
signature of t he Mayor and the Direc tor of Finance, ex-officio
City Cl erk -Treasurer , and by the Certific ate of Pu blication . Thi s
Or d inance shall become effe c tive thirty (30) days after publi-
cation following final pa ssag e ,
Introdu c ed , read in full , and pa ssed o n fir st reading ,
t h e 15th day of August , 1983.
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Publishe d as a Bill f or an Ord inance on th e 17th day of Augu st , 1983.
Read by title and passed on final r eading on t h e 6th day o f Sep t ember, 1983.
Publ ished by t it l e as Ordinance No .-5__1__, Serie s of
1963, o n i·.he 7th da y of Se ptem ber , 1983.
Attest :
~~;(&4 EugiieCot1 s , Ma y or
I , Gar y R. Higbee , ex offic io City Cl erk -Trea s urer of t he
City of Englewood , Co l orado , he r eby certify t h at the a bove and
foregoing is a true , a c curate , and comple t e copy of t h e Or di n ance
p,s ::,d o n final rea d ing a nd publ i shed by title as Ordi n an ce No .~!-1-• Series of 1 9 83 .