HomeMy WebLinkAbout1986 Ordinance No. 030B \' AUTHOR !TY
0Ri>l !IA:;([ 110 , 30
~Lh l l S Of 1986 ___ _ COU NC IL BILL NO , 36
INTROD U~E.,O,BY CDUf/& I .I
MEMBtn ..:::,,,.;i~ (U10 //tfJJ:1
AN ORD I NAN CE AUTH ORIZING THE IS SU ANCE OF
SPEC IAL ASSESS MENT BONDS IN THE PRINCIPAL
AM OUN T or $325,000 OF THE CITY OF EN GLEW OO D,
COLOR AD O, FOR PAVING DISTRICT NO, 31;
PRESCR IBIN G THE FORM .0~ THE BO NDS, AND
PROV I DI NG FOR TH E PAYMENT OF THE BONDS AND THE
I NT EREST THEREON .
WHEREAS , the City Council of the City of Englewood,
Cl'l o ca j o , has, by Ordi nance No, 18, Series of 1986, finally pas sed
an d ad o pted on April 7, 1986, created Pa vi ng District No. 31,
.·,thi n t he City, f or th e purpos e of constructing and installing
s tr e e t pa v ing , cur b and gut ter and sidewalk improvements, togeth e r
with ne cessa ry inci de ntals on c e rtain streets in the Cit y ; and
l•:HEREAS, No tice to Contractors to submit bids for th e
c o n s truction of the improvements in the District has been
adver tised and bids for such construction were received on May 8,
198G ; and
WHEREAS, the City Council has determined that special
asse ssment bonds of the City for the District should be issued in
th e amount of $325,000 for the payment of part of such
construction cost; and
WHEREAS, in accordance with the City Charter and a
resolution passed on April 7, 1986, the City Council has
advertised for the sale of Special Assessment Bonds and said bonds
in the amount of $325,000 have been award e d to Kirchner Moore &
Co,, Den v er, Colorado; and
w:,EREAS, it is now necessary to provide for the issuance
of such bonds and the form and payment thereof;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
Er ;GLE l·/OO D, COLORADO:
-42 -
Sc·c t ion I. Auth o rization and ll ond Dc tai I_~• That by
vi rt ue o f and pursuant to the City Charter and t:1•.' procedure
Or d i nan c e o f the City (Chapter 12 of the Municipal Co .><'), Special
Assessmen t Bonds of the City o f Englewo o d for Paving Di strict No.
1 1, in c l uding the "B" Jnter es t Certificates (the 'Bond~•, shall be
,_.~ued f o r the purpose of paying part of the costs of local
i mp rovemen t s to be construct e d and Installed In the District. The
Bonds sha ll l,e in the prin ci pal amount of $325,000, d a ted June I,
1986 , a nd be in th e den om in at i o n of $1,000 each. The Bonds shal I
he i s s uPd on ly a s fully re g ist e red bonds without coupons and shall
be d ue and payable on August 1, 1997, subject to prior redemption
in ucco rdance with Se ction 3 hereof.
Th e Bo nds shall b ea r inter e st payable semiannually on
ea ch Feb ru a ry l and August 1, commencing on February 1, 1987, as
foll o ws :
$115,000
55,000
45,000
30,000
30,000
25,000
25,000
Initial
Bond Numbers
R-1 through R-115
R-116 through R-170
R-171 through R-215
R-216 through R-245
R-246 through R-275
R-276 through R-300
R-301 through R-325
"A"
Interest
Rate
s.so,
6.00
6.50
6.75
1.00
7.20
7.40
ln addition to the "A" interest rate Indicated above,
all of the Bonds shall bear additional "B" interest at the rate of
3.25\ for the period from August 1, 1986 to February 1, 1987, such
"B" interest being payable on February I, 1987.
Such "B" Interest shall he evidenced by an appropriate
instrume n t , which shall be fully registered.
The maximum net effective interest rate authorized for
this issue of Bonds shall be 12.00\ per annum.
effective interest rate is 7.20579\ per annum.
The actual net
Section 2. Payment of Bonds; Paying Agent ancl Bond
Registrar. The principal of the Bonds Is payable in lawful money
of the United States of America to the registered owner ~•f each
-43 -
I
b u nc1 upo n prc s c nlalion at lhe principal oft ice of The first
•Ja l l C'nil l !lank of Englew o o d, in En g lewood, Colorado, or !ls
t.ucc es so r , as paying agent (the "Paying Agent"). Notwi thstand!ng
a nyth ing c ?ntained in this Ordinance lo the c o ntrary, interest on
an y ll o nd is payable to the person in ..-h ose name such Bond is
r ~g i s l c re d , at his address as it appears on the registration books
ma inL a in e d by or on behalf of the City by The first National Bank
o [ Cn 9 }e1,,-1o od , in Englewood, Colorado, or its successor, as Bond
H~g ist r ar (the "llond Registrar"), at the clos e of business on tt,e
t1{L cen th (15th) day of the calendar mo nth n e xt preceding each
int e re st payment date (the "Record Date"), irrespective of ary
1 ran s f e r o r exchange of such Bond subsequent to such Record Date
;,11cl pri o r t o such ir,~erest payment date. Such payment a hall be
paid b y ch e ck or draft of the Paying Agent.
The principal o{ and interest on the Bonds shall be paid
in accordance with t erms of a "Bond Paying Agent and Registrar
Agr eeme nt" between t .. e City and The First National Bank of
r.n g l e wo od , in Englewood, Colorado.
Section 3. Prior Redemption. The Bonds are subject to
call an d prior payment on any interest payment date, in direct
numerical orde r, upon payment of par and accrued interest. Notice
of such prior redemption will be given by the Bond Registrar by
mailing a copy of the redemption notice by first class mail
(postage prepaid) not less than 15 days prior to the date fixed
{or redemption, to the registered owner of each Bond to b e
redeemed at the address shown on the registration books maintained
Not ice of by or on behalf of the City by the Bond Registrar.
prior redemption shall also be given by advertisement once a week
for three consecutive weeks in a newspaper of general circulation
in the City, in accordance with Section 31-25-536 C.R.S. Failure
to give such n o tice by mailing to any Bondowner, or any defect
therein, shall not affect the validity of any proceeding for the
redemption of other Bonds. All Bonds so ca 11 ed for redemption
will c e as e to bear interest after the specified redemption date,
-44 -
provid~d funds for th e ir red emp tion are on deposit at the place o(
paym e nt at that time,
Sec tion 4. Form and Execution of Bonds. The Bonds
sha ll be signed with the facsimile or manual signature of the
Mayor, sealed with a facsimile or manual impression of the seal of
t he Cit)', attested with the facsimile or manual signature of the
City Clerk, and countersigned with the facsimile or manual
s i gnat ure of the Director of Finance, Should any officer whose
fac sim ile or manual signature appears on the Bonds cease to be
suc h o fficer before delivery of the Bonds to the purchaser, such
f acsim il e or manual signature shall nevertheless be valid and
s ufficient for all purposes,
The Bonds shall be in substantially the foll o wing form:
-45 -
I
So. R-____ _
I f o rm o{ Bo nd]
(front of Bond]
UNITED STATES Of AMERICA
STATE Of COLORADO
CO UNTY Of ARAPAHOE
CITY Of ENGLEWOO D
$1,000
PAV!t:G DI STR I CT NO , 31, SP ECIAL AS S ESSMEN T BON D
"A"
Jt;TE REST RATE MA T URITY DATE
AUGUST I, I 997
HrG J STER~D OWNE R:
l'HlNCIPAL AMOUllT: ONE THOUSAND DOLL ARS
ORIGINAL
ISSUE DI\TE
JU NE I, 1986
The City of Eng l ewood, A, ;i pah oe County, Colorado, for
·,al•J <:> r e c eiv ed , her eb y promi ses to pay out of the spe cial fund
h er< in ,,f Ler des i g n a t ed , but not otherwise, to the registered owner
nam e d ·t ,,v,,, o r reg istered assigns, on the maturity date specified
above , th e principal am o unt spe cified above, and in like manner to
pay interest on such principa l amount (computed on the basis of a
360-day year of twelve 30-day months) from the interest payment
d a t e ne xt preceding the date of registration and authentication of
l h i s Bo nd, unless this Bond is registered and authenticated prior
l o Febr uary 1, 1987, in which event this Bond shall bear interest
from Ju ne 1, 1986, at the "A" interest rate per annum specified
abov e , payable s emiannually on February l and August l each year,
commP nci ng on February 1, 1987, until such principal amount is
p ,,i cl , unl ess this Bond sha ll have been previously called for
r e d c,rn pti o n and paymen t sha ll have been duly provided for or mad e .
In addition to the "A" interest rate set forth above, this Bon d
s hall bear supplemental "B" interest, at lhe rate of 3,25\ per
a n num , f or the p e riod from Au g ust l, 1986, to February l, 1987,
payable o n Feb ruary 1, 1987, Such "B" interest shall be evidenced
by one or mo re separate instrument<; which shall be fully
-46 -
r egis tered , The principa l of this Bond is payable in l awfu l mon ey
o f lh c United S tate s of America to the r eg ist e red owner upon
pres~nlation at Th e First National Bank of Englewood, in
Eng l e wood , Colorado, or its successor, as Paying Agent.
Pay ment of each installment of interest shall be made to
lh e r eg ist e red owner hereo f whose name shall appear on the
re g istration books of the City maintained by or on behalf of the
'City by Th e first National Bank of Englewood, in Englewood,
Co l o ra do , or its successor, as Bond Registrar, at the close of
bus iness on t he fif t ee nth ( 15th) d a y of the cal e ndar month next
preceding each interest paym e nt date (the "Record Date"), and
sha ll be paid by ch eck or draft of the Paying Agent mailed to such
r e~is tered ow ne r at his address as it appears on such registration
boo ks.
REFERENCE IS HER EBY MADE TO FURT 'l :':R PROVISIONS OF THIS
BO N'.> SET fO RTH ON THE REVE RSE HER EOF, W'IICH FURTHER PROVISIONS
SHA LL fOR ALL PUR POSE S HAVE THE SAME EFFECT AS IF FULLY SET FORTH
I N THIS PL /ICC,
Th is Bond shall not be val id or become obligatory for
any purpos e or be entitled to any security or benefit under the
authorizing Bond Ordinance until the certificate of authentication
he reon shall have been signed by the Bond Registrar.
IN TESTIMONY WHEREOF, the City of Englewood, Colorado,
has caused this Bond t~ be executed in its name with the facsimile
signature of the Mayor, sealed with a facsimile of the City seal,
-47 -
I
I
a tt es ted with the facsimile signature of the City Clerk, and
cou nte rs igned with the facsimile signature of the Director of
finance, all as of the 1st day of June, 1986.
(fA CS IMILE
5 L A L,)
ATTESTED:
B y : ---'<..:.F.=a..:c:.:s:..:i:.:;m'-'i'-'l;.;e:.....:S:..:i:...o,.;ncca=-t=-u=-r=-e=-)'-_
City Clerk
CITY OF ENGLEWOOD, ARAPAHOE
COUNTY, COLORADO
By : __ .,_( ~F-=a-=c-=s-=i"'m'i:ic:=lc:ec,,..::Sc:i_.9'-'n.:..:a:..:t:..:u:..:r..:e:..,)c....._
Mayor
COUNTERSIGNED,
By: __ ~{~F~a_c_s_i~m-=i-=l-=e__,S~i~g~n0 a,:..~~-u~r-=e:..:) __
Director of Finance
[form of Bond Registrar's Certificate of Authentication)
CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds of the issue described in
the within mentioned Bond Ordinance.
Date of Registration
and Authentication:
The First National Bank of
Englewood,
Englewood, Colorado,
as Bond Registrar
By 1--:--:--.--.--.-=--.----Au thori zed Signatory
-48 -
[Back of Bor,d]
ADDITIO NAL PROVI S I ONS
This Bo nd is one of a series aggregating Three Hundred
Twen t y-Five Thou s and Dollars ($325,000) par value, all of like
da te, principal amount, maturity date, ten o r, and effect except as
t o nunber, and interest rate, issued by the City of Englewood, in
th e County of Arapahbe and State of Colorado, for the purpose of
p ay ing part of the cost s of constructing and installing street
r a v ing, curb and gutter and sidewalk improvements, together with
nec e s sary incidentals, in Paving District No. 31, ln the City of
En g l e wood, Colorado, The Bond ls issued under the Authority of
the City Ch a rter, the procedure Ordinance of the City adopted
p u r s ua nt t o the City Charter (Chapter 12 of the Hunlclpal Code)
and th e Ordinance authorizing the issuance of Bonds of the City
duly a d opted, approved, published and made a law of said City
p rior t o the issuance hereof. Pursuant to Chapter 12 of the
Municipal Code, such recital shall conclusively impart full
co1'1 pliance with all of the provisions thereof, and all bonds
issued containing such recital shall be incontestable for any
cause whatsoever after their delivery for value. It is hereby
r e cited, certified, and warranted that ftll of the requirements of
law have been fully complied with by the proper officers in
i s suing this Bond.
Payment of this Bond and the interest thereon shall be
made from, and as security for such payment there
special fund designated as "Paving District No.
Interest Fund", which Fund shall contain in i tially
ls pledged, a
31 Bond and
any moneys in
the cons t ruction account remaining after the cost of improvements
has been paid in full and thereafter to contain the proceeds fro m I
special assess!'1ents to b e levied against the property Included
within the District and specially benefl ted by the constructio n
and installation of improvements therein. The assessments to be
levied will constitute a lien on and against each lot or tract of
land in the respective amounts to be apportioned by an ordinan c ~
-49 -
I
o f th e City, Pursuant to the City Charter, and the Ordinance
authorizing the issuance of this Bond, whenever four-fifths (4/5)
of t he Bo nds of this Issue have been paid and cancelled, and for
a ny reas o n the remaining assessments are not paid In time to take
up the final Bonds and Interest thereon, then the City shall pay
s aid Bonds when due and Interest due thereon and reimburse Itself
by c o llecting the unpaid assessments due the District,
It Is hereby certified" and recited that the total issue
of Bo nds of the City for the District, Including this Bond, does
not exc ee d the amount authorized by law, that every requirement of
law relating to the creation of Paving District No. 31, the
construction of said local Improvements, and the Issuance of this
ll o nd has been fully canplled with by the proper officers of the
City, and that all conditions required to exist and things
r e quired to be done precedent to and in the issuance of this Bond
t o render the same lawful and valid, have happened, been properly
done and performed, and did exist in regular and due time, form,
and manner, as required by law.
This Bond does not constitute a debt or an indebtedness
of the City of Englewood within the meaning of the City Charter,
or any constitutional or statutory limitation or provision, and
shall not be considered or held to be a general obligation of the
City. The payment of this Bond and the interest thereon is not
secured by _an encumbrance, mortgage, or other pledge of property
of tho City except for such special assessments and other moneys
vledged for the payment of Bonds, as set forth above. No property
of the Cl ty, subject to such exception, shall be liable to be
forfeited or taken in payment of the Bonds.
For the payment of this Bond and the Interest thereon,
the City pledges to exercise all of its lawful corporate powers to
collect the assessments,
Bonds of this issue, of which this Bond is one, are
subject to call and prior payment on any interest payment date, in
direc~ numerical order, upon payment of par and accrued interest.
Notice of prior redemption shall bt• c;iiven by malling a c,,py of the
-50 -
r ed e m;,tlon notice not less than fifteen (15) days prior to the
d a te fixed for redemption, to the registered owner of this Bo nd at
t he a d dre ss shown on the registration books maintained by the Bo nd
Re g i s trar, in the manner set forth in the authorizing Bond
Ord inance, All Bonds called for redemption will cease to bear
int e r e st afte r the specified •·edemption date, provided funds for
their r e demption are on deposit at the place of payment at that
ti me,
The City and the Bond Registrar shall not be raquired to
I s sue or transfer any Bonds, (1) during a period begir.:i i ng on the
Record Date and ending at the close of business on t .,e ensuing
Interest payment date, or (2) during the periou b • ·• nning on any
rl Rt e of selection of Bonds to be redeemed and endin~ on the day on
which the applicable notice of redemption is g i ~e ,1, The Bond
Registrar shall not be required to .transfer any BondB selected or
called f o r redemption, in whole or in part, The City, the Paying
Agent, and the Bond Registrar may deem and treat the regiot.ered
owner of any Bond as the abs olute owner thereof for all purposes
(whether or not such Bond shall be overdue) and any notice to thu
contrary shall not be binding upon the City, the Paying Agent, 01
the Bond Registrar,
This Bond is trans f erable by the registered owner hereof
in person or by his attorney duly authorized in writing, at the
principal office of the Bond Registrar, but only in the manner,
subject to the limitations, and upon payment of the charges
provided in the authorizing Bond Ordinance and upon surrender and
cancellation of this Bond, This Bond may be transferred upon the
reg istration books upon delivery to the Bond Registrar of t hiE
Bon d , accompa nied by a written instrument or instruments of
transfer in form and with guaranty of signature satisfactory to I
the Bond Registrar, duly executed by the owner of this Bond or his
atto rn e y-in-fact or legal representative, containing written
Instructions as to the details of the transfer of the Bond, along
with the social security number or federal employer identification
number of such transferee, In the event of the transfer of thi s
-51 -
Bo nd, t he Bo nd Registrar shall enter the transfer of ownership in
the registration books and shall authenticate and deliver in th o
na:n e of the transferee or transferees a new fully registered Bond
or Bon d s of authorized d e nominat.lons of the same maturity and
interest rate for the aggregate principal amount which the
r egis tered owner :s entitled to receive at the earliest
p racticabl~ time, The City shb!l pay for any transfer fee
required by the Bond Registrar relating to the trans'ler of such
Bo nd, but th e City or the Bond Registrar may charge the owner of
such Bond for any tax or other governmental charge required to be
paid wi th respect to such trons[e r,
-52 -
(ronn 0£ Transfer)
ASSIG NMENT
FOR VAL UE RECEIVED, the undersigned sells, assigns,
l r a n sf ers unto ________________________ _
SOCIAL SEC URITY OR FEDERAL EMPLOYER
ID El;TI rICATION NUMBER or ASSIGNEE
(Name and Address of Assi~nee)
t he within Bond and does hereby irrevocably constitute and appoint
-----,------------~------'' attorney, ~t-o----c-t_r _a -ns~fer said Bond on the books kept for registration thereof
with full power of substitution in the premises,
Dated: ________________ _
Signature of Registered Owner:
NOTICE: The si,;nature to this
assignment must correspond with the
namo of the registered owner as it
appears upon the face of the within
Bond in every particular, without
alteration or enlargement or any
change whatever,
Signature guaranteed:
(Bank, Trust Company, or Firm)
-53 -
UNITED STATES OF AMERICA
STATE OF COLORA DO
COUN TY OF ARAPAHOE
CITY UF EN GLEWOOD
PAV I NG DISTRICT NO. 31, SPEC IAL ASS ESSMENT BON D
"B" INTEREST CERTIFICATE
REG I STER ED OW NER :
Th , City of Englewood, Arapahoe County, Colorado (the
"Ci ty"), he reby pro,n ises t o pay to the registered owner named
above , o r r e g i s t e red assigns, the amount represented as "B"
int c·r es t o n the outstanding principal amount of the Special
As ses s me nt Bonds, of the City for Paving District No. 31, dated
.l un e 1, 1986, issu e i in th e principal amount of $325,000 (the
"llo nds") numb1;red R-1 through R-325, at the rate of 3.251 p e r
,,.11,um, t o ,· the p e riod from August 1, 1986, to February 1, 1987 .
Th e "B" int e rest shall be payable on February 1, 1987. Such
in tere s t shall be co(llputed on the basis of a 360-day 1•ear of
twelve 30-day mo nths, from the interest payment dat e next
pr e c edi r.g th e date of registration and authentication of this
C1•rt if1ca te, unl ess this Ce r tific a te is registered and
authe nt ic ated prior to Fe b ruary 1, 1987, in which event this
Cer t ifica t e shall represent interes t from August 1, 1986, at the
rate set forth abo ve .
Th e Bonds and the "B" interest thereon represented by
this Certificate have b ee n authorized by an Ordinance finally
pass ed ard adop te d by th e City on June 2, 1986. The Bonds are
i ss ued a ,; fully regi 3tered bonds, and mature, bear interest, and
are subject to redemption, all as specifically set forth in the
authorizing Bond Ordinance cited above, Notice of prior
redemption of the Bonds shall be given by The First National Bank
of Englewood, in Englewood, Colorado (the "Bond Registrar"), by
mailing a copy of the redemption notice, not less than fifteen
(15) days prior to the date fixed for redemption, to the
regist e red owner of this Certificate at the address shown on the
registration books maintained by the Bond Registrar, as more
particularly set forth in the Bond Ordinance.
Th e •p• interest on said Bonds represented by this
Certificate shall be payabl e by the Bond Registrar to the
r egis t ered owner hereof, at his address as it appears on the
re gistrat ion books maintained by or on behal[ of the City, at the
clos e of b usiness on t he Record Date, such date being tbe close of
business on the fi f teenth ( 15) day of the calendar month next
precedir~ the intere st payment date; such payment shall be paid by
check or draft of the Bond Registrar, ·
-54 -
The D::ind Registrar shall maintain the books of the Cl ty
f ~r t he registration of ownership of each Bo nd and this "B"
Inter es t Certificate, as prov!dea by the &ond Ordinance
author i z ing the issuance of said Bo nds,
REFERE NC E IS HEREBY MADE TO FURTHER PROVISIONS or THIS
CERT ! fl CATE ATT />.CHED HERETO, WHICH FURTHER PRO\'ISIONS SHALL FOR
!,LL r JRPJSE S HAVE THE SNIE EH EC T AS If FULLY SET FORTH IN THIS
PL ACE ,
This Certificate shall not be valid or become obligatory
:o r any p u rpose or be entitlecl to any security or benefit under
t he B::ind Ordinance authorizing this Certificate until the
ce rtificate of authentication hereon shall have been signed by the
dond Reg i s trar.
IN TESTIMONY WHEREOF, the City Council of the City of
Englew:,od, Arapahoe County, Colorado has caused thl s Certificate
t o be executed in its name with the manual or facsimile signature
of the "ayo r of the City, sealed with a manual or facsimile of th o
sea l of t he City, attested with the manual or facsimile sign"tu ru
of the City Clerk, and countersigned with the manual or fac e l~i ,.
si9n a tur e of the Director of Finance, as of the 1st day ot Ju ;,e ,
198 6.
( S E A L
ATTESTED:
CITY or ENGLEWOOD,
ARAPAHOE COUNTY, COLORADO
By:(Manual o, facsimile Signature) By:(Manual or Facsimile Signature)
City Clerk Mayor
COUNTERSIGNED:
By:(Manual or Facsimile Signature)
Director of Finance
-55 -
CERTIFICATE OF AUTHENTICATION
This •a• Interest Certificate is the instrument
evidencing the "B" interest described in the within mentioned Bond
Ordinance.
Date of Registration
a n d h u thentication
By1
The First National Bank of
Englewood
Englewood, Colorado, as Bond
Registrar
Authorized SiQnatory
-56 -
ADDITIOl:AL PROVJS!ONf.
The City and the Bond Registrar shall not be required to
i 5s ue or transfer any Certificate during a period beginning at the
c l ose of business on the fifteenth (15th) day of the calendar
rn o nth next preceding any interest payment date and ending at the
close of business on the interest payment date. The City, the
ll o nd Re gistra ,·, and the Paying Agent may deem and treat the
registered c·~,,~r hereof as the absolute owner hereof (whether or
not this Certi ficate shall be overdue) for the purpose of
r cceiv ina pC1y:~1~r:.t o f or on account of the interest represented
hercb;• a,.,• for all other purposes, and neither the City, the B'.>nd
Reg istrar, n0r the Paying Agent shall be affected by any notice to
th e contrary.
-•.is Certificate is transferable by the registered owner
h e reof i,, person or by his attorney duly authorized in writing, at
the principal offlce of the Bond Registrar, but only in the
rn ar.n er, su bj ect tc-the limit&tions, and upon payment of the
c harges provi d ed herein, and upon surrender and cancellation of
this Certificate. This Certificate may be transferred upon th .-,
reg istration books upon delivery to the Bond Registrar of the
Certificate, accompanied by a written instrument of transfer ·in
form and with guaranty of signature satisfactory to the Bond
Registrar, duly executed by the owner ot the Certificate to be
transferred or his attorney-in-fact or legal representative,
containing written instructions as to the details ~f the transfer
of such Certificate, along with the social security number or
federal employer identification number of such transferee. In all
cases of the transfer of a Certificate, the Bond Registrar shall
enter the transfer of ownership in the registration books and
shall authenticate and deliver in the name of the transferee or
transferees a new fully registered Certificate or Certificates of
the sa-:,e interest rate which the registered owner is entitled to
receive at the ear lie st practicable time, The City or Bond
Registrar may charge the owner of this Certificate for every such
transfer of a Certificate an amount sufficient to reimburse it for
!ts reasonable fees and for any tax or other governmental charge
required to be paid with respect to such transfer.
-57 -
I
FOR V/,LUE RECEIVED, the undersigned sells, assi9ns and
tr a ns fers unto
SOCIAL SECURITY OR FEDERAL E~PLOYER
I m:r:Tl FI CATIO N tlUMBER Of ASSIG NE E
-------('"'Nc:-a_m_e--a-n""'d,----:A-d'""d'""r_e_s--s-o"""t---=1-.-s-s""'ir-g-n_e_e-.-) ____ ....:....-----
the within •s• Interest Certificate and does hereby irrevocably
, attorney to transfer said
constitute and appoint ____________________ _
certif~-1·c_a_t_e_o_n __ t_h_e~b-o--ok-s~k-e_p_t-~f-o-r registration thereof with full
power of substitution in the premises.
Dated: _____________ _
Si g nature of Registered owner:
NOTICE: The signature to this
assignment must correspond with the
nar.1e of the registered owner as it
appears upon the face of the within
Certificate in every particular,
without alteration or enlargement or
any change whatever.
Signature guaranteed:
(Bank, Trust Company, or Firm)
-58 -
Se ct! on 5. !,uthentication. No Bond shall be valid or
ot,li ga t o ry for any purposo or be entitled to any security or
b e nefit under this Ordinance unless and until a certificate of
authe ntication on such B.:>nd e·,bstantially in the fonn hereinabove
se t forth shall have bee n :\uly 01.ecuted by the Bond Registrar, and
s uc h executed certificate of the Bond Registrar upon any such Bond
sh a ll .:i<. -~nclusive ., i ,1.,;o c ,• th~t such Bond has been authenticated
an d d e livere'cl under •.1·,, Ordinance. The Bond Re gistrar's
certificate of authenti c a Ll on on any Bond shall be deemed to have
b ee n executed by it it signe<:l by an ~uthoriied officer or
signatory of the Bond Registrar, but it shall not be necessary
that the same officer or signatory sign the ce r tificate of
authentication on all of the Bonds Issued hereunder.
Section 6. De livery of Bonds. Upon the adoption of
this Ordinance, the City shall execute the Bonds and deliver them
t o the Bo n d Registrar, and the Bond Registrar shall authenticate
the Bon d s and deliver them to the purchasers thereof as directed
by the City, and in accordance with a Bon1 Purchase Agreement
between the City and
Section 7. Registration and Tran~fer of Bonds, Persons
Treated as Owners. The Bond Registrar shall maintain the books of
the City for the registration of ownership of each Bond as
provided In this Ordinance. Bonds may be transferred upon the
registration books upon delivery of the Bonds to the Bond
Registrar, accompanied by a written Instrument or Instruments of
transfer in form and with ouaranty of signature satisfactory to
the Bond Registrar, duly executed by the owner of the Bonds to be
transferred or his attorney-in-fact or legal representative,
contain i ng written instructions as to the details of the transfer
of such Bonds, along with the social security number or federal
employer Identification number of such transferee. No transfer of
any Bond shall :·•<: effective until entered on the registration
books.
In all cases of the tran ~fer of a Bond, the Bon d
Registrar shall enter the transfer of ownership in t ' c
-S9 -
I
I
I
1 nist rotion books and shall a ut henticate and deliver in the name
o f th e trans[eree or transr ,,,ocs a new fully registered Bond or
Bones of authorized denominations of the
intere st rate for the aggregate principal
rr:g istPr ~d owner ls entitled to receive
pract icable time In accat d!n ce with the
same maturity and
amount which the
at the earliest
provisions of this
Ordin a nc e . The City shall p~y for any transfer fee required by
ta e Bon d Registrar relat!ing t.o the transfer of any Bond, but the
City or the Bond Registrar ma y charge the owner of a Bond for any
t ax o r other governme ntal ch ~ra e required to be paid with respect
to such transfer.
The City and Bond Registrar shall not be required to
i s s ue or transfer any Bonds: (l) during a period beginning on the
HPco r d Date and ending at the close of business on the ensuing
interest payment date, or (2) during the period beginning on any
date of selection of Bonds to be redeemed and ending on the day on
whi ch the applicable notice of redemption is given. The Bond
Reg istrar shall not b e required to transfer any Bonds selected or
called for redemption, in whole or in part.
New Bonds delivered upon an\' transfer shall be valid
special obligations of the City, evidencing the same obligation as
t he Bond s surrendered, shall be secured by this Ordinance, and
s hall be entitled to tll of the security and benefits hereof to
t he same extent as the &onds surrendered.
The City, the Paying Agent, and the Bond Registrar may
deem and tr.eat the registered owner of any Bond as the absolute
o~ner thereof for all purposes (whether or no t such Bond shall be
overdu<), and any notice to the contrary shall not be binding upon
the City, the Paying Agent, or the Bond Registrar,
standi ng
Section 8.
Bond shall
Destruction of llonds,
be delivered to the
Whenever any out-
Bond Registrar for
cancellation pursuant to this Ordinance and upon payment of the
r,rincipal amount and interest represented thereby, or whenever an,•
ou tstanding Bond shall be delivered to the Bond Registrar for
transfer pursuant to the provisions hereof , such Bond shall be
-60 -
c ancelled and de s troyed by the Bo nd R~gistrar and counterparts o f
a c e rtificate of destruction evide~clng such destruction shall be
fur n ishe d by the Bond Registrar to the City.
Section 9, Lost Bonds, Any Bond that Is lost, stolen,
d es troyed, or mutilated may be replaced or paid by the Bond
Re g i s trar in accordance with and subject to the limitations of
a p plicable law. The appl leant for any such replacement Bond shall
p o st such security, pay such costs, and present such proof of
o wn e rship and loss as may be required by applicable law, or in the
absence of specific requirements, as may be required by the Bond
Registrar.
Section 10. DisposiLon and Investment of Bond
Pr o cce:l s . The Bonds shall be issued and sold for the purpose of
paying part of the costs and expenses of constructing an:l
installing improvements in said District and all other costs and
e xpenses incident thereto. In the event that all of the proceeds
of the Bonds are not required to pay such costs and expenses, any
remaining amount shall be paid into the bond fund for the purpose
of calling in and paying the principal of and interest on the
Bonds . Neither the original purchaser of the Bonds nor any
subsequent owners shall be responsible for the applkation or
disposal by the City or any of its off i cers of the funds derived
from the sale thereof.
All or any portion of the Bond proceeds may be
temporarily invested or reinvested, pending such use, in
securities or obligations which are lawful investments. It is
hereby covenanted and agreed by the City that the temporary
investment or reinvestment of the orig i nal proceeds of the Bonds,
or of any moneys treated as proceeds of the Bonds within the
meaning of Section 103(c) of the Internal Revenue Cece uf 1954, as
amended (the "Code" l, and pertinent regulations, rulings, and
decisions, shall be of such nature and extent, for such period,
and at such yield, that the Bonds shall not be or become arbitrage
honds within the meaning of Section 103(c) of the Code an:l
pertinent regulations, rulings, and decisions.
-61 -
Section l 1. lncontesta h le Re cital In Bo nds. In
a cco r d anc e with Se ction 12-1-13 of the Municipal Code of the City,
eac h bond shall recite that it is Issued under the Authority of
the City Charter and the procedure ordinance or ordinances adopted
r •i r s u a nt to the City Charter; such recital shall conclusively
i mpa rt full comp liance with all of the prodsions thereof, ancl all
1 ,nd s Issued containing such recital shall be incontestable for
,ny cause whatsoever after their delivery for Valu e ,
Section 12, Limitation of Action. In accordan c e wit h
·.ec ti o n 12-1-12 of Chapter 12 of the llJnicipal Code, any person
I iling .i i th the City Council at the time of the hearing on the
c reation of the district a complaint, protest, or objection, shall
ha v e t he right, within thirty ( 30) days after the final passage of
th e ordinance creating the district or the ordinance authorizing
the issuance of bond s , to commence an action or suit in any court
of c onpetent jurisdiction to correct or set asid e an,
d etermination by the City Council or question i ng the authority or
pro c eedings taken by the City Council relating to the creation of
t he Di r.trlct, the issuance of bonds, the method of assessment, or
the construction of improvements.
Section 13, Paving District No. 31 Bond and Interes t
~-The Boncls and the interest thereon shall be payable solely
fron the local improvement fund, des i gnated as the "Paving
District No. 31 Bond and Interest Fu~ " which shall contain
Initially any moneys in the construction account remaining after
the cost of improvements has been paid In full and thereafter to
contain the proceeds from special assessments to be levied against
the property withb the District and spec i ally benefited by th e
const rcc ti o n of improvements therein.
When there is on hand a sufficient amoun t to p a y
six mon ths' interest o n outstanding Bonds for the District, the
City shall call for payment, on the next interest payment dat e,
outstanding Bonds in direct numerical order with funds availa b l e
therefor.
-62 -
After the expiration of the period for ca sh
p n)':7,e nts of assessme nts in ful 1. the City shal 1, to the extent
poss ible, p ay each year not less than 101 of the total amount of
ll0 nds outstan 11ng after the payment of the Bonds with the proceeds
o f suc h c ash paym ents of assessments in full,
Section 14, P.dditional Security for the Pavment of
Pr i ncipal and Interest. Pursuant to the City Charter, whenever
f ou r-fi fth s (4 /5 ) of the Bonds of this Issue have been 'paid and
canc ,,J J cd , and for any reason the remaining assessments are not
pa id in Li me t o take up the final Bonds and interest thereon, the n
the City shall pay said Bonds when due and interes~ due thereon
~nd reimburse itself by cc-llecting the unpaid asses s mer1ts due the
Di s trict.
Section 15, Assessment of Costs. Upon :ompletion of
the l oca l improveme nts, or upon completion from tiir,1 to time of
an y part thereof, and upon acceptance thereof by the Council, or
whe n ever the totai cost can be definitely ascertai.,ed, it will
cause a statement showing the total cost of the improvements to be
prepared and filed in the office of the Director of Finance, The
City Council shall further cause assessments to be levied against
the property included within the District and specially benefited
by the construction and installation of such improvements, in
accordance with law.
Section 16, Repealer. All Ordinances or resolutions,
or parts the reof in conflict herewith are hereby repealed,
Section 17, Severability, Should any one or more
sections or provisions of this Ordinance be judicially determined
invalid or unenforceable, such determination shall not affect,
impai r or i nv alidate the remaining provisions hereof, th e
intention being that the various provisions hereof are severable,
Section ~8. Ordinance Irrepealable, After said Bond s
are issu~d, this Ordinance shall be and remain irrepealable until
said Bonds and the interest thereon shall have been fully paid,
satisfied and discharged,
-63 -
I
Se ction 19. He aring. In accordance with Section 40 of
t he C!t.y Charter, the City Council shall hold a public hearing on
t his ordi nance, before final passage, at 7130 P.M. on Monda,,
.h .ne 2, 19 8 6 .
Section 20. Publication and Effective Date. This
Or di nance after !ts final passage, shall be numbered and recorded,
an d th e a dopt ion and publication shall IJe authenticated by the
signature s of the Mayor and the City Clerk, a~d by the Certif i ca t e
of Pcb lication. This ordinance shall become effective thirty (30)
day s after publication following final passage.
l nt r od uced, read i n full, an d passed on first r e ading on
the 19th day o f May, 198 6.
f ~b l ished as a Bill f o r an Or dinan ce on the 21 s t day of
M,l'/, 198 G.
Re ad by titl e and passed on f inal reading the 2nd day of
June , 1 986 .
Pu b l i shed by title as Ordinan ce No. j!Z._, Se ries of 1986,
on the 4th day of Jun e , 1986.
E tr@.: c-~. Oti s , Mayor
Att est :
_a_i,/~#. ~~/
r at riciR H. Crow , City Cl erk
!, ~a tricia H, Crow , City Clerk of the City of Englewood,
Colo r ado , he re by certify that the abo ve and foreg o ing is a true
an d cor.i1,l ete copy of the Ordin a nc e p~sed o n final re a ding and
~ub l ished by t itle a s Ordinance No. 0 , Series of 1986.
~~#~ Pati-,c1a II. Crow
-64-