HomeMy WebLinkAbout1991 Ordinance No. 047l
10
B'i AUTHORlT'i
ORDINI\NCPJ 110 . ':l?
S ERIES OP 1991
COUIICI L BI LL NO . SJ
tUTRooucEo e Y couNCIL
HEKBER _ __cC~L~A~Y~TO=H-
I\N ORDINANCE AUTIIORIZIHO THE ISSUANCE Of SPEGIAL ASSESSKE NT BONDS IN THB
PRINCIPAL I\NOUNT Of Sl70,000 OF THI: CITY Of EIIGLEWOOD, CO LORADO, FOR PAVIN G
DISTRICT tlO . 34 /CO NCRETB REPLACEKENT DISTRICT NO . 199 1 / PRESCRIBING THB PORK OP
THE BOND S I PROVIDING FO R T HB P~YKENT or THE BONDS AND TUB INTERES T THEREON , AND
SBTTING FORTH OTHER DETAI LS IN CO UHE CTIO?f THEREWITH .
WHEREAS , tho Cl.ty c o unc l.l ot t he c ity o t Engl ewood , Colorad o (the
•city •), ha ■, by Ordinanc e No. 32 , Serl.ea of 1991, finally p a ■■ed and ado p ted
o n May 20, 199 1 , created Paving Oiutrl.c t No. 34 /Con creto Ropl a ceme n t Ol atr lct
Ho. 1991 (tha •o l.atrlct •) wlth l n t he City , f or the p ur po1e of con ■t r u c t lng and
lnetallln9 pav i ng, c urb, gutter, and e ldewalk i mproveme nts, t ogether with nece ■■a.ry Ln cldenta ls on certain streets , avenues , a nd al leys, and r emoving and
re1,1acl.ng ■u b -■tandard curb, g utter, and aidew a lk and t he new co n ■t r uc t io n ot:
c ux U , gutter, and a idowalk lmprovementa , tO')ether with n oc e ■• ry incident a l ■,
on r artai n ■ti:ttate and avonue ■, All d esc ribe d i n suc h o r d inance l tho •Project •) 1
WHEREAS , notice t o c o ntractor o to a ubmit bide f or the co n ■t r ucti o n
of the i.Sl.prove:ainnta in the Diet rict h aa be e n a d v o r tiaad and biJa for a uch
c o natructl o n h a ve bean received, ar.d WH!R&AS, the c l.ty cou n cil h as d o t erminod tha t aped.al a ■■a ■a man t
and
bo n d ■ of t he Clty t:or the Oi s trlct a hou ld be i esued i n Lh o amou nt o f $370,00 0
for t h e paytten t of pa.rt of auch constructio n c o ■tJ a n d
WH EREAS, i n accordance with th• clty c:,art e r and a r a a olution
passed on June 11, 1991, tho Cl.ty c ounc i l ha ■ advarcised to r t he aale ot:
s pec i al a aeaee.mant bond a in the amount of $3 70 , COO, and oaid bond a h ave b ean
aw arded t o George K . Bau m &: company, )(l.rchn1tr Moore Di vie ion, oonvar , Co lor a do,
a nd Da i n Bo•worth Incorporated, Denver , Co lorad o J a nd
WH EREAS , it io now neces sary t o p rovide for the iae ua nce o f the
bond s a nd t h & t:orm a.nd payment thereo f;
NOW THEREFORE , BB IT ORDAINtD BY TH E CITY COUNCIL OP THB CITY OP
E NCLEWOO:>, COLORADO. J\S FOLLOWS 1 s e ctic"J. 1. Author ization and Bond Oetaila , By vir t uo of a nd
purauar.t to the clty Charter and t ho procedure Ord inance of th~ cl.ty relat ing
to local impr ovement di!ltrl c'.s (T i tle l "., Chapter 2 o f the Mun ic ipa l Code ),
speclal Aaeeaomcnt Bo nd a o f tho CL'ty for Paving 01.o tr ict ?lo, 34/con c reto
Raplar -.rnen t olatr1c t tio . 199 1, l the •eonda •) o h al l. h'I ioaued fo r t he purpose of
p aying part o f t ho c oo la ot: the Project. Tho Uor • oh a.1 1 bo in tho princ i pa l
amount o f S3 10
1
000, d ated August i S, 1991, a nd be i n tho denomi natio n ot: SS,000
each . Th• Bonda s h all bo loaucd on ly a o full y r e g1otered bonds and ehal l be
due a nd payable or: Au gu st l, 20f".', 2 1 eubjcct to pc Loe redcmp t 1on in acc.o rdance
wit h Section 3 hcL co f. Tho uond o ahal l bear in c reet pa.yablo oemi annua lly on Febr ua ry l
and 1'.gu1t 1 ea c h yc 1r, c :"V',oncing Fcbr ua c y l , 1 9 92, au !ol lowe1
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Initial Intere1t
~ Bo nd Numbers -~
$2 5 ,00 0 t h['ough 5 6.20,
40,000 6 thro u g h 13 6.40
40 ,000 1 4 throu g h 21 6. 60
4 0 ,000 22 thro u g h 29 6. 70
35,000 30 throug h 36 7 .00
40 ,000 37 through 44 7 .00
3 5,000 45 t hrough 51 7.00
40,00 0 52 through 59 7.00
3 5,000 60 through 66 7 . 25
40,000 67 through 74 7 .25
Tha max i mum net effective lntereat rate authorized for thl ■ 111ue
o f Bond• ah all be 7. so, per annum and the actual net effective inter ■■t rate
doea not exceed aald maxi.town.
l1cti0n l. Paya1nt of Bond ■; Paying ,.gent and Bond Ragi ■trar. The
principal of tha Bond ■ la payable in lawful m.J ney of th• United State ■ of
~rlca to the reglatered owner of each bond upon maturity or prior redRmptlon
and preaentation at the principal office of the Fir ■t National Bank of
Englewood, in Englewood, COlorado, or it ■ aucceeaor, •• paying agent (the
•Paying Agent •). Notwithatandlng anything contained in thi ■ .Jrdlnar,ce t,, the
contrary, interest on any Bond i ■ payable to t;·ne person in who ■• name ■uc:h Bond
1 ■ regl ■tered , at hi ■ addra ■• •• i t a ppear ■ on the regi ■tratlon book ■
maintained by or on behalf of the City by t he Flrat National Bank of Englewood,
in Enqlewood, Co lorad o, or its successor, as Bond R egl ■trar (the •Bond
Regl ■trar;), at the clo ■e o f bualnesa on tho fifteenth (15th) day of the
calendar month next preceding each intereat payment date (the •Record Date•),
lrra ■pectiv• of any tran ■fer of such Bo nd aub ■equant to ■uch Record Data and
prior to auc h intere st payment date. Such payment ■hall be paid by check or
draft of the Paying Agent mailed on or befo re the inte rest payment data to auch
registere d own er.
If tho date f o r making a ny payment or performing any action
here under s hall b e a leg al holiday or a d a y on which the principal office of
t he Pa y ing ,.gent o r Bond Registrar is a uthorized or required by law to remai:'\
cloaed, s u ch payment may be mc:.d e or a c t perfo rmed on the next aucceedlng day
whic h la not a l e gal holiday or a day o n which the principal office of t h e
P •y lng Agent o r Bo nd Reg i strar ia a u thorlz:ed or required by law to remain
cl.:>ae d .
Th e pr inc ipal o f and i ntere s t on the Bo nda ahall ba paid in
a ccordance with the terms o f a •pay ing Ag e nt ,nd Registrar Ag reement• between
the City and t he Paying Agent /Bo nd Re gi s trar.
Sect io n J . Prior Red e ■pti o o . The Bo nda a re aub ject t o c all and
prior p a yme nt o n any intere s t p ay,,ent dat e, in d l r e ct nume rical order, upon
p ayme nt of p a r and acc:r ued inte re st. No t ice o f such pr ior redem ption will be
g i ve n by the Bond Registra r b y ma iling a co py of tho r e d empt i o n notice by first
c l ass mal l (poataga prepaid ) no t leas tha n t hi rty (JO ) d a y s no r mo re t .han
ninety (90 ) day s pr lo r to t he date fixed fo r redem pt i o n , t o the register ed
owner of each Bo nd to be rel'eemed a t tho addreoa a how n on the regia t r a tio n
booka ma inta ined b y or o n behal f o f t h e Ci t y by the Bo nd Reg ietrar . Fa U "r• t o
give a u c h no t i c e by malling 1.0 a ny reg i stered ow ner , o r a ny defect th .r e in ,
••
I ■hall l"IOt affect tho validity ot any procoodl n9 for tho redempt ion of other .
B o n d ■ •• to which no e uc h fa ilure or detect exhte. ~11 Bonde ■o called for .
redempt ion wil l ceaaa to bear lntero at after tho ■pacified redemption date,
p rovided funda for the i r redemp·.:ton ara on depoolt at t he place o f payment at
t hat t ltne .
!iectiou 4. Fora aad Ex ■c ution of Bonda . Tho B o nd ■ ■hall be ■igned
with the facai.mile o r man ual signature of t ha Ha ye r , eaaled wit h a facalmUe or
manual lmp r e a ■i o n o f t ho aeal of the City, attes t ed wt.th the fac ■lmlle or
manual algnature o f t he City Clerk, and cou nt ersig ned with tha fac ■i.mlla or
manual ■ignatu re o f the Directo r of Financial Service ■• Should any officer
who aa facalmll ■ or man ual l'ignature appears on the Bond a cea ■• to be ■uch
officer be fore delivery of tha B on d ■ to the purchaeer, suc h fac ■imila or manual
■ignatu r e ahall nevertheles a be va lid a nd a ufflciont f or all purpo ■e ■•
The Bonde may conta in a re production o f tho o plnlo n of nationally
recognized 11u oiclpal bond c oun ■el •• to tha Bonda and a cartlficatlon of ■uch
opinion by the City Clerk of the City.
Th e Bonda s ha ll be in a ubotantial ly t ho followiny t o r mt
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No. R-__ _
( rorm o f Bond J
( Front of Bon d)
UNITED STATES or AK.ERICA
STATS or COLO RADO
CO UHTr or AJU\PAHOB
CITr or ENGLEWOOD
PAVING DISTRICT HO, 34/COHCRBTB RBPLA CEHEHT DISTR ICT NO, 1991
SPECIAL ASSESSKEHT BOHO , S ERIES 1991
INTIR&ST RATB
REOISTEIU!O OWNER:
PRINCIPAL AKOl!NT:
MATURITY DATB
AUGUST 1 , 2002
ORIGINAL
ISSUB DATI
AUGUST 15, 1991
DOLLARS
Th• City of Englewood, Arapaho• Co unty, Colorado, for value
received, hereby promise• to pay out of the special fund hereinafter
deeignated, but not otherwl ■e , to the ragi ■t ered owner nam•d above, or
reghtered ae ■igne, on the maturity dato ■pacified above or on the date of
prior r e d emption , the pr incipal amou nt epec ified above. In like manner the
City promiaa ■ to pay interaat on auch princ ipal &moun t (computed o n th ■ taol ■
of a 360-day year of twelve 30-day mon t h ■) from the intereat payment date next
preceding the date of regietration and authentication of thi ■ Bond, unle ■a thi1
Bo nd i ■ regi ■tered and authenticated prior to February 1, 199 "', in which eve nt
thi ■ Bond shall bear in tera ■t frOffl Auguet 15 , 1991, at the intera ■t rate per
annum epeclfiad above. Interest on this Bond la payable semiannu a l l y o n
Fabr'Jary l and August 1 each year, cofM\encing February 1, 1992, until euch
principal amount La paid at maturity oc upon prior redemption.
Th e principal of thia Bond ia payable in lawful mone y of the Unite-:\
States of Amari.ca to the registered owner u pon ma tur ity or prior redemption and
presentation at t 'le principal office of tho Fl.rat National Bank. of Englewood,
in Englewood, Colo rado , or ita successor, aa Paying Agent.
Payment of each installment of interest shall bo mada to tha
regi ■terod owner hereof who se name ahal l appear on tho re9i1tratlon booka o f
tha City maintai.ned by or on behalf of the City by the Fl.rat N'l tional Bank o f
Englewood , i.n Englewood, Co lorado, or ita oucco s sor, ao Bon d Regietrar, at the
c lose of bualness on t he fift eenth ( 15th) day of tho calendar month next
pre c edi ng each inte rest payment dato (tho "Rocord Date"), and ehall be pa id by
chec k o r d raft of tha P.aytng 1\g ent ma!led o n o r before tho in tareat paymont
date to suc h registered owr.ar at hie addre ao ao 1.t appears 01 \ such regietration
booka.
I f t.t:e date for making any payment o r perf--mlng ant action ■hall
be a legal holiday or a day o n which tho principal of.. ... ce o f the Paying Agent
or Bond Registrar lo authorir.ed or requ!r{fd by law to remai n c losed, such
payment may be made o r act perfo rmed on the next succ e eding day whic h 1 ■ not a
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legal holiday or a day on which th• principal offlc• o f th• Paying-1'gant or
Bond ftegl ■trar 1• authorlr.ed or required by law to r-emain cloead.
Bond• of thl11 leaue, o f wt,1 ~h f:.hl ■ Bo nd 1 1 one, ar-• ou bject to call
a il d prior payment on any int ■r ■•t paymenl.. ,:late, ln direct numerical order, upon
payr,,e nt of par and accrued lnteroat . Notice of pr-ior redemption shall bo given
by malling, a copy of the redemption notice, not le ■■ than thirty (JO) dayir nor
mor e than ninety (90) day• prior to tha data fixed for redemption , to thri r,.gi ■ter-ed owner of' thl• Bond ■t tha addre•• 1hown o n the regi ■tration book ■
r.,aintalned by tha Bond Regi ■trar, i n the manner eat forth in th• authori&i 19
Bond ordinance. All Bond ■ called for redemption will cea ■a to bear tnterr,■t
a fter th• ■pacified redemption date, provided fund ■ for their redomption a.re on
d.epo ■it at the place of payment at that time,
REF!RENCB IS KEREBY MADB TO FURTHER PROVISIONS OP TH IS BOND SBT
FORTH ON THB RBVERSB HEREOF, WHICH PURTHER PROVISIONS SHA!,L FO R ALL PUP.POSIS
HAVB THB S1'MB UPECT J\S IP PULLY SET FORTH IN THIS PLJ\CB , Thi ■ Bond whal l oot be valid or become obligatcry for any purpo••
or be ,.,,titled to a ny eecurity or benefit under the author-l&ing Bond o,:dlnanca
u ntil t h• certificate of authentication hereon ■hall hava been ■lgned by the
Bo nd Regi ■trar. IN TESTIMONY WHEREOF, th ., City Council of the City of Unglewood,
Colorado, ha• cau ■ad thi1 Bond to b ,· executed in ita na.ma with th•, fac ■imile ■lgnatura of th• Hayor, aealod with \ f aceimila of th• city eaal, a .. t e ■ted wlth
tho facsimile olgnatu ,:e of tha City >::ier-k, and countersigned with th• fac ■l.mll• ■ig natur• of the r>lrector of Finan c lel sorvica ■, all ae of th• 15th day of
1'ugu ■t, 1991 .
(FJ\CStHILE
S B AL )
ATTESTED:
By: (Fac simile Signatu.!.!J__
City Clerk
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CITY or ENGL:H<JOD, AU.PAHOB
COUNTY' cr,LOP.ADO
By :__J!4cei.r11i le Signature)
Hayor
COU NTERSIGNED:
By: (Facsimile Signature)
Direct o r of Financial S11rvice11
(Form ot Bond Regiatrar'■ C ■rtUicate of Authentication)
CERTIPICATB OP AUTHENTICATION
Thl ■ Bond i ■ one ot the Bond ■ ot tha i ■eue descr ibed in th ■ within
ment i o n ed Bo nd Ordinance.
Date of Ragi ■tration
and Authe ntication 1
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Fir ■t National Bank ot
Eng lewood,
P.O. Box l73352TA
Denver, Colorado 80217-3352
a.■ Bond R egl ■trar
ey,_----::-::=-.--:-;-:,,---,----
Authorlzed Signatory
I
I (Back ot Bond)
ADDITIONAL PROVtSIOU9
Thi ■ Bond 1• one ot a aerlaa aggregating Three Hundred Seventy
Thou ■and Dollar ■ ($J70,000) par value, all of like d 1lto, principal a.mount,
matur ity dat e, tenor, and effect except aa to number and lntere ■t rate, i ■■ued
by th ■ City of Inglewood, in the county of Arapahoe and State of Colorado, for
the purpo ■• ot payin; ~•rt of the coata of con ■tructlng and ln ■talling paving,
curb, gutter, and ■idnwalk improvement ■, together with nece ■■ary incidental ■ on
certain street ■, aven,Jta, and allaya, and removing and raplacinCJ 1ub•1tandard
curb, gutter, and ■ldewalk and the new con ■tructlon o f curb, gutter, and
■idewalk improvement ■, together wit h nace ■aary incidental ■, on certain ■treat ■
and avenue ■, in Paving Diatrict No. 34/Concrete Replacement Di ■trict No. 1991,
in th ■ City of Englewood, co ;,orado. Tha Bc,nd l• l ■■ued under the authority of
the City Charter, the procedural Ordinance of the City relating to local
J..mprovarr.ent dl•~ricte adopted pur ■uant to the City Charter (Title 11, Chapter 2
o f the Municipal Cod e ), and the Ordinance authorizincj the i ■auanca of Bonda of
th ■ City duly adopted, approved, publi1hed and made a law o f ■aid City prior to
the i ■■uance hereof. Pur ■uant to Tit la 11, Chapter 2 of the Municipal Code,
■uch recital ■hall conc lu ■lvely impart full compliance with all of the
provi ■ion ■ thereof, and all bond ■ iaaued containing such recital ■hall be
lnconte ■tahle for any cau ■e what ■oaver after their delivery for value.
It i ■ hereby ce.rtlfled a.nd recited that the total ia ■ue of Bonds of
the City for the Diatrlct, i ncluding thia Bond, doe s not exce1~d the amount
authori&ed by law, that overy requirement of law relating to the creation of
the Di ■trict, th• con ■tructi on , in ■tallatlon, ramoval, and replacement of ■aid
local i.mprovementa, and th• i~auanca of thia Bond ha ■ been fully complied with
by the proper ofticC"ra of the City1 and that all condition ■ re,quirad to axi ■t
&nd thing·• required to be dona precedent to and in the issuance of thi ■ Bond to
render the ■ama lawful and valid, have happened, bean properly done and
performed, and did axiat in regular and due ti.me, fern., and manner, a ■ required
by law. It la hereby recited, certified, and ,,mrrantad that all of the
r:equiremente of law have been fully complied with by the proper officer ■ in
laauinq thi ■ Bond.
Payment ot this Bond and the intareat thereon shall be raada from,
and •• security for a uch payment thero ia pledged , a special fund de ■ignated aa
•paving Di ■trict No. 34/Concrata Replacement District No. 1991 Bond Fund• (the
•Bond Fund•>. The Bond Fund ■hall contain (l) the net proceeds frOtll apecial
••••■ament ■ to be levied againat tha property included in tha Diatrict, (i i)
the Bond proceeds e at a ■ida ■a capitalized intare ■t and accrued intare ■t, (iii)
any monaya in tho Construction Fund remaining after the coats of the
improvements and =el ated coats have been paid in full, (iv) the net proceeds of
any bonda or other obligations issued to refund the Dondo, and (v) any other
legally available moneya. ~dditionally, pursuant to the City Charter and the
Ordinance author i zi.ng the issuance of this Bo nd, whenever four-fiftha (4/5) o f
the Bonda of this issue hav e been paid and c ancelled, and for any rea ■on the
remaining as ■easmc l' ts are not paid in time to take up tho final Bonde and
interel!Jt thereo n, ':hen the City shall pay said Bonds wh e n due and interest due
thereon and re i mb •1ree it ■alf by collecting the unpaid aaeeeementa d~e the
Di.strict.
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Th• a ■■ae ■mor.t ■ to ba levied will con ■titut• a ll•n on and again ■t
each lot o r tract ot land in the r•o~ctiva amo u nt• to ba apportion•d by an
ordinance o f the City.
THIS BONO DOES NOT CONSTl':t'UTB ~ Dl!BT OR AN INDl!CTEDNES9 OF THI CITY'
OP ENGLEWOOD IIITHIH THB KEANING OP TH>' CITY CHARTER, OR ANY CONSTITUTIONAL OR
STATUTORY LIHITATION OR PROVISION, ANO SHALL NOT BB CONSIDERED OR HBLD TO 8! A
CEN!RAL O!L!CATIO!f OP THB CITY• Tlill PAYH.ElfT OP THIS BOND AND THB INTEREST
THEREO N 19 NOT S!CURllD BY Alf !NC\IIIBRANC!!, HORTCACB, OR OTH!R PL!DCI or PROPERTY
OP THI CITY !XC!PT FOR SUCK SPECIAL ASS!SSHBlfTS AND OTHER HONBYS PL!DCED roR
Tlfl! PA YK!!NT or BOlfDS AS SB'? FORTH ABOV!!. NO PROPERTY OP THI! CITY, SUBJECT TO
SUCK BXCBPTIL,lf, Sl<ALL BB LIABLB TO BIi FORFBITED OR TJU<E lf Ilf PAYHBNT or Tlfl!
BONDS .
For tha payme nt of thia Bond and the inter ■■t thereon, th• City
pledge" to axerci ■a all ot it ■ l aw ful corporate power ■ to collect th•
••••••menta agaln ■t th• real property included within tha Dl ■trlct and
•peclally benefited by th• con ■tructlon, ln ■t•ll•tlon, retDOval, and
replacereent or improvement•, and take all nace11ary action t o collect any
a•••••mente that are in default.
The City and Bond Registrar shall not be required to l11ue or
tran•f•r any Bond ■a (a) during • period beginning at the clooe of t,t ;y1.n••• on
the .-.eeord Oat• and c,ndlng at the opening of bu ■lne1 ■ on the flr•t bul! ln ■■• day
followln9 the eneulng intere•t payment date, or (b) during the perA.od be9lnnin9
at th ■ opening of buoineH on a date forty-five (45) doyo prior to the date of
any redemption of Bond ■ and endlng at the opening of bu ■lne ■■ on the fir ■t
bu ■ine ■• day following the day on whlch the applicable notice of redemption 1 ■
malled. Th• Bond Regi ■trar ■hall not be required to tran ■tei-any Bond ■
1elected or called for redemption . Th• City, th• Paying Agent, and the Bond
Regl ■trar may deem and treat the regi ■tered owner of any Bond aa the ab1olute
owner thereot! for all purpo••• (whether or not ■uch Bond •hall be overdue) and
any notice to the contrary shall not be binding upon the City, the Paying
Agent, or the Bond Reql ■tr•r.
Thi ■ Bond le transferable by the reg~ •tered o"'"er hereof ln per eon
or by hi• attorney duly authorf.;.ad in writing, at the principal office of the
Bond Regi ■trar, but only in the m~nner, aubject h · the limitation ■, and upon
payment of the charge ■ providf!d in the authorizing Bond Oruinance and upon
■urrender and cancellatio n of this Bond. Thie Bond may be tran ■terred upon the
regl•tration · boo ►.11 upon delivery to the Bond Regi ■trar ot t h i ■ Bond,
accompanied by a written instrument or inutrumente of tran ■fer in form and with
guaranty of aignature ■atiefactory to the Bond Regi•trar, duly executed by the
owner of this Bond or his attorney-in-fact or legal repraaentatlve, containing
written ir,■tructiona a• to the dotalle of the transfer of the Bond, along with
the social ■ecurity number or fader.al employer identification number of auch
tranat,ree. In the event of tho tranafer of thia Bond, th• Bond Reglatrar
ahall enter the transfer o f ownership in the regiatration booka and shall
authenticate and deliver Ln the name o f the tranaferea or t ranaforae• a new
full j reglatered Bond in the denomination of $5 ,000 , of t ho ■am• maturity,
sequ"ntlal n umbe r, a nd Lnteroot t'ate, at the earliest practlcabl• ti.me. The
Bond Reglatrar may charge the owner of thia Bond for every auch tran•f'er an
amount ■u ff'Lcient t o reimburoe it for lto reaoonable fees and f or any tax or
other gove rnmental c h arg e requ ire d to bo paid with rea pect to 1uch tran ■f ■r ,
(Form of Trana!or]
11S SICNMENT
FOR VM.UE RECEIVED , tha under ■ignad oella, a ■■igo a, and transfers
unto _____________________ _
SOCIIIL SECURITY OR FEDERAL EMPT.OYER
IDBHTIFICATION NUHBE!I OP AS SIGNEE
(N'rune and Addre ■a of Aaeignee)
the within Bond and does hereby irrevocably conatituta and appoint
-------------,-----,,-------,,--,-,---,--, attorney, to tran ■f•r
■a.id Bond on the book ■ kept for regi.atratlon thereof with full power of
■ub ■titution 1.n the premiaaa.
Dated1, ______________ _
Signature of Regi ■tered Owner:
HOTICl:s • Th• aignature to thi• aaeignrnent
mu ■t corre ■pond with the name of the
registered owner a ■ it appears upon th•
taca of tha within Bond in every
particular, without alteration or.
enlargement or any change whatever.
Signature guaranteed 1
(Bank, Trust Company, o r Firm)
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S ■ctio11 5. Autbeaticatio11. ho Bond 11 h a l l b o v alid or oblig~tory I
for any pur po ■a o r be ent i tled to a.ny aecur i ty or benefit under thi ■ Ordinance
unl e 111 a nd until a cer t ificat e o f authe ntication o n euch Bo nd ■ub1tantially in
the form h e relnabov o aet forth ■hall hav e been duly execu ted by the Bond I
Rogiatrar, and auch e xo c utod c ertifi c a t o o f the Bo nd Re giatrar upon any ■uch
Bo nd s hall be concl u a i v a ovi d ence tha t s u c h Bond ha• b oo n a u t henticated and
d a ll.vered u ndor t hi.11 Ordin a nce. The Bo n d R o gi at ra r'■ c ert ificate ot
authe nt icat lon o n a ny Bond ■ha ll be deamod to hava b e en executwd by it if
■ignad by an autho r ized o ff icer or aignatory of tha Bo nd Ragi1t .. ar, but lt
ehall n ot b a nace11aa1y that the a ama officer or aig natory aign the cartUicate
ot a uthent i cat io n o n all ot tha Bond a ia ■u Ad hareundoc .
Section 6. Oeli.-ery of Bond ■, Upon tho adoption o t thi ■
Ordi n ance, the City ■hall execute the Bondi and deliv ar thorn to th• Bond
F "g i ■trar, a n d the Bond Re giatrar ■hall authonticato tho Bonda and dalivor them
t .> •Ph o pu rcha aar t ha::-tot a1 directed by the City.
S•cti~n 1 . h9i1trati:.n &114 Tran ■fer of Bond ■; Pe r ■ona Treated ••
OVner ■• Th a Bond Ragi ■trar ■hall ma i ntain the b ouku of the City for the
reglatratlon o f ownar ■hip of each Bond a ■ pi:ovidad in thla Ordinance, Bond ■
may ba tca r.11 f e1· .. ,rt upon t h e regi ■tcation books upo n delivery ot the aond ■ to
t he Bo nd Rl'y .. '1 t 1-r I a c c om p a nied by a wr i tte n in ■trument or in ■tru m■nt ■ ot
C.C£n ■f•r ~n 1 ·,cr .. and with gu a ranty ot algnatura aatiaf•ctory to th ■ Bond
Reglatrac, c!u ..:._..· e x e c u ted by the owner of the Bon1 ;, to ba tr an ■ferred or hi ■
attorney--in-ta <.t. or legal repre ■antativa, c ontaini nq wr i tten ina t ruction ■ a ■ to
the data ilu o f the transfer of ■u c h Bo nd a, along with the social ■■curity
number or federal em p loy e r i d entifi c a tion numbe r of su c h tranaferee, No
trana for of any Bond sha ll b e effec tive u n til e n t ered on tho re9i ■trat ion
book.a.
I n al l c a aee o f the transfer of a Bonrt, the Bond Reglat.rar shall
e nter tho tran ■f e r o f ownership in tha r e gietrat i on book• and ahall
auth enticate a nd delive r in the name of the tranafaroa or tran ■f•r••• a new
fully registe red Bond in t he denominatio n of $5,000 , o f t.ha ■ama maturity,
seque nt ial n umber, and int e r est rato which tho regi s t e r ed owner la entitled to
rec eive at the oarlieat p r actic abl e t ime in accordanco wit h the provi•iona of
t hi11 Or dinan ce. The s e quent ia l n umbers sha ll r e main the same foll ow ing each
t r ans f e r of owne rship . Th o Bo nd Re glat rar may charge the o wne r o f ■uch Bond
for o var y s u c h t ranufer o f a Bo nd a n a.mou nt s uffic ient to relmburae it for ita
r e aso nable teo a and f or a ny t ax or other governm.,ntal c harge required to be
paid with r espe c t to ouch t r an sfer .
The c ity and Bond Regi strar s hall not be required to iaaue or
tra n sfer any Bond a: {a) during a pe rio d b i;,gin ni ng a t t ho c loao of b u ■ineaa on
t he Reco rd Dat e a nd ending at t he open ing o f b us ineua o n the first buaineaa day
fo l lowing t he ensuing interoat payment dato, or (b) during tho per i od beginn ing
a t t he o p en ing of bueineso o n a da te fo rt J-five (45) days p rio r to the d ata of
a n y red emptio n of Bo nds and e nding at. t he open i ng of buo ine aa o n the f i r st
bu11i n eaa day f o llo wing tho d ay o n whi c h t ho applicab l e no tice o f r edemption la
ma i led. The Bond Re gis t rar shall not be required t o tra ne for any Bonda
Bt!lected o r c alled for rede mp tio n .
Uew Bendu d eliv e red upon an y tranafer o hall bo va lid opec i l
o bligation s of t ho City , ev i dencing the aame ob ligatior. aa the Bo nda
s u rr endere d, e h .i ll b e secu red by this Ord inance, and ohall b e entitled to all
ot tho oocurity and bcne fite he r eo f to the e amo oxtent aa tho Bonda
ou r re nde r e d.
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The City, the Payi ng Agent, and t he Bo nd Regi.■trar ma y deem and
treat t ho re gi ■t.orod owner of any Bond •• th• a b ■ol u t e own er t h e r eo f f o r all
purpo ■ee (whether o r no t ouch Bon d eha l l be o ve rdue), a nd any notice to the
contra r y ahall not be b i nding upo n the City, t h e Pay i 11g Agent, o r the Bo nd
Regie t ra r .
Sect io n a , Drutructlon of Bond ■• Whenov1..r any out ■tan di ng Bo nd
■hal l ba d o l ivo r ed to the Bond Reg i ■t rar f or cancel lat i on pur ■ua nt to thi ■
Ordin ance and u pon k"..\ymon t o f the p rincipal amo unt and inta r e ■t rapra ■ant a d
thereby, or whe never any outet4nding Bond ■h a l l b e d el i v ered to the Bond
Ragi ■trar for tranafor pursuant to t he provi 11i.on1 hereof, s u c h Bond ■ha ll ba
c a nc e lled and destroyed by tho Bond Re gi s t ra r and c ounterparts o f 11 c ertificat e
o f de ■t ruc ti on ev idenc i ng auch dest ruction aha ll ba f urniat'\d by the Bo i,d
Regi strar to t ho City.
sec tion 9 . Loa t Bonda . Any Bo nd that i a l o a t , ■tol e n , de1t r-""yad,
or muti l ated may ba r e p laced or p t. ~d b y t he Bo nd Registrar in a ccor dance with
and s ubject to the limitati ons o f a ppl i cable law . Tha a p piicant for any ■uch
replaceme n t Bo nd ■hall poet au c h ■ecu ri t y , pay ■u c h c o ■t ■, and p re ■ent ■uch
proof o f owner ■hi p a nd l oa a aa may be r &quired b y applic able l a w, o r 1.n t h ,
ab11e nce of ■pacif ic requir e ment,, a ■ ma y ba r e quired by t h a Bond Reglatra.r.
Secti on 10 . Dl a po ■ltlon aad Ia••■t11ent of Bond Proceed ■• The
procee ds o f the Bonda a h a l l b a a pplie d only i n a c cor d a nce wi th the terma a:"l d
pr ov is ion ■ ot t hia Ordinance . Neit her the origin al purcha ■a r of the Bonda nor
any ■ub ■equa nt owner s shall bo r e ■po naibla f or t ha a pplication or di ■po ■al by
the City or any ot ita officer• o f tha fund ■ derive d frDnl the ■a l• t heraot:
The c ity aha ll !It al l ti.me s do a nd per fo rm all act ■ a nd thing ■
n eca ■a ary o r doairabl o in order to Assu r e that i ntere s t paid on Bonda ■hall,
for t he purpoa e B o f fedoral income tllX ation , be e xcludert from the g ro ■■ income
o f tha rec i p ients thereof and exempt f .:-om su c h t axat i o n . It la hereby
cove nanted a nd agroed by the City t hat it will no t make , o r permit t o be made,
any u ■ilJ of t he orig lnal proceeds o t the Bond s , or o f a ny mo n e y ■ treated a a
procaeda of the Bonde within the me an ing of t he I nt e r nal Revenue COde of 1986,
•• amend.1d (the •code•) a nd appli c able r e gu latio n s, r ulings, and deci ■ione, or
take, permit to b e taken, o r fall t o take a ny action , which would adveraely
a ffec t the excl usion fr om gross i ncome o f the lnt ereet o n t ha Bon da u nder
Sec t ion 10 3 o f tho Co<:10 a nd appl icable r egulat ions , rul ings , and deci.a iona.
Sect ic-a 11. Iocooteatsble Re c i tal in Bo n d ■• I n accordance wit h
Section 1 1-2-~ of the Mu nicipa l Code ot t he City , each bond r.hall r ecite that
it i s i e e ued under the a uthority of the City Cl"',artP.r a nd the procedure
ord i na nc e or ordi nances a do pte d pu r suant to the City charter, 1uch recital
a hall c o n c lu ■i ve l y impart Cull com plia nce wi t h al l of the p r o vlaione t hereof ,
a nd a l l Bonds issu ed c o nta ining such recital s hall be i nc ontestable f o r a ny
C&UbB whateoever after thelr de live ry tor value.
section t:z. Limitat i on o f 1'ctioo. In acco rdanco with Se c tion 11-
2 -8 of the Muni cipal Code , a ny perso n filing with t he City Co u nc il at the t im o
o t t ho heari ng o n the crel'l tion o f t he d i.otr ict a complaint, p r otea t , or
o bj e ct i o n, oh all ha vo t h o r ig ht , withi n thirty (30) days after the fina l
p'loaage of. the o rd1nanc o o:r e ating the distr i ct o r t~o o rdina nc e a.uthorh.ing t hst
laauanc o of bo ndo, to comme nc e an ac tio n o r suit .l.n any court of compet en ~
jur ia dict i on to correct or eot as ide any determinati<.in h y t ho City Counc il o r
qu ea t .4,o ning tho a uthority or pro c eed1ngf' ta ken by t ho City Co u nc i l r e l at i ng to
the c r eat i o n of tho d is trict, the iaauanco of bo nd a, t:-ie method o f aa 1aaeme nt,
or thn co notru ction o f improvemen ts.
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Section 13 . Cr •■t ioa o f aod Cradit ■ to Fund• and Acc ount ■• There
ara he r eby creatttd a nd ••t ~b l iahed th fo llow i ng !undo a nd a ci.:oun t ■, wh ich ma y
ba oatabli a~ed 11 =, ~o\J k account• and ma i n tained i n 11cco rd11 n ce with th1t terma ot
th La Ord Lnan ce 1
l •q
(b )
t.ho '"Pa v i ng Diat r l c t Uo . 34 /Concroto Ro pla c omon t DL ■t ri ct No.
199 1 eor.d Fun d • (thu -send Fund •), and
tho -p a v irg Dla t rlc t Ne , 34/Concrote Ro p lacem o nt Jl at r l ct No .
1991 Con ■truct lon Fund• (the •conat r u c tlon Fund•).
:.-n 1cco r da nc o with g ener ally a c ce pted a ccounting pr inciple ■, tor
t he purpo&:tt o f account lng fo , the money a provided f or i n this Ordinance the
Director of rlnancJ al s erv icea may c reate o ffo ett i ng rovonu a and expenao
account • not inconaiotont with t he provialona hereo f, ,. 11 a ■ may b e determine d
b y the Directo r o t ~Jnan c l o l Sorvicee .
Upon recoipt o f tha p r ocea da from tho sale of tho Bonda, the city
s hal 1 credit t o the Bond Fundi t h o accr ued im:ereat paid b y tho original
pur c ha ■ar from the .:Sated dat a of t ho Bonda to the dat e of ieauance and
capitali:e.:i inture ■t in tha amount of $51 ,601 . Thereafter , ths remaining
proce eda fr0111 tbo aa l o of tha Bond ■ ahall be credited t o t he Co natruction Fund .
Honcsy ■ c redited , t ho foregoing funds may be inva atad or rain ve ■ted in
accordance with t he cit)" Chart er, however , the i nveatme nt o f such money• ■hall
be eubj ect to the l imitati o n• o f Section 10 h ereof . Mxcopt aa otherw11a
p rovided herein , in t ere ■t income t'rora. any auc h inve1tmento aha ll be retained in
the fund which the monaya oo 1.nve1ted are cred ited.
Section 14 . C.0111truc tion ,und. Honayo credited to the
Con ■tructio n P\Jnd shall be u.ied so l ely t o pay the coata and expen11e1 of t.ha
Proj ect, including without l imitation, all coats of t h o ieauanco of the eond11
c o ats of tin•nc i al, prof e ■■i o n al, and other 11e r vic e u in connection with the
Pr oject, contlngencice , and al\ othe.r expan ses a s may ba n eco aaa ry and incident
to tho Conatruction a nd i nstallation, and removal and rep lacement, of the
Project . Wh en t h a Director of Financ ia l Sor vi ce a detormin e a that all coat ■ and
expeneea ot the Project have beon paid, a.ny remain ing mo neys credited to th J
Conatruction Fund (l ea s an)' amounte to be retained therein to pay coata and
oxpense11 not thgn due and owing ) s h all be transferred t o t he Bond Fund and uced
for tho purpoa1111 thereof.
Sectio n 15. Bo nd Fund . The Bonde and the interoet t hereon sha ll
be payable s o l el y from, a nd aa aecurlt)· for ouch payment there lo p ledged, the
Bond Fund. ""n o Bond Fund sha ll conta i n (1) the net proceeds from apocial
aa ■eaam en to to bo lovi'ld again st tho property included in the Oio trict, (ii)
t he Bond proceed& aet a side aa capit.ili:r.ed int eres t and accruod inter e at, (iii)
any moneys l n the con s truct i on Fund remaining a ft eL· the coa t ■ of the
i mp rovem ent a and re l a.t u d r:o oto hav e been pa Ld i n !u ll , (iv ) t he net proceed a of
any bonds o r ot her ob liga t i ons issue d to r efund the Bond o , a nd (v) any other
legally available mo a c :,,s .
When tt,e ra 111 o n hand a s u f!l cient amo unt to pay ei ,c montho •
i nterest o n outa ta nrli ng Bonde f or t ho Ola t1.·i c t (ex c luding c a p i ta l ized lnterca t
and accru ed 1nt ere11t), t hn Clty sha l l c all f or payment , on tho n e ,ct lnteren t
payment d at e, a s ui tab le r.umber o f Uonda in dire c t num eclc al order.
S•c:tion. 16 , Ad d i tio nal Se;~rit y for tba Paymttn t of Princ i pal ant.\
Jatereat . Pur s uant to Se<.:t ion 108 .;.c l h o C1ty Ch a r ter , who nover four-flft hc,
~t tho Bond £t of thle iouuo havo been patd and cancc t l o d , and for a ny
reas o n the rema i n ing a a sceomont e 'ICf rot P"id in t l mo to take up the fin al
Bonda and lntereef. thcrncn then tho City ehall ray oatd Bo nd e when duo and
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I
1
lntereat due theceo n and ralmburea lt11el f by c ol lecting the unpaid a ■H1 ■1mant1
due tha Dl atrict.
Section 17 . ..•••••••nt of Coat ■ and Covenant ■ of tbe City. Upon
completion of the l o cal im prove ments, or upon com pletion from tlme to tlma of
a ny part thereo f , a nd upon a c ce ptance thereof by the City Cou nc ll, or wh e never
the total co ■t can be doflnit ely a a certal nod, it will cau 1a a ■ta tem a n t ■howlng
t he total c o at of the lmprovomante to be pre pa red and filed ln tha office of
t h o Dlr o c to r o f Financial Servi c e ■• Tho City covo na nt ■ to (1) levy ••••••manta
agaln ■t t he p roperty in tho Diatrlc t bonof lted by the Pro jec t ■o a ■ to p r ovide
money ■ which, whe n c ombined with othe r legally a va l l ablo mone y ■, ■hall ba
■ufflci ont to pay the princ ipal of and int e r e ■t on t he Bond ■ -w hen du ■, (ii)
promptly credit or cauae t o ba depo ■l.te d to tha Bond Fund t he n ■t proceed ■ of
the a.mount• col l ected aa aa a aa ■menta, a nd (ill) take such action •• may b a
rea ■onably nece ■■a r y and pract icabl e to en f orce the co llection of ■uch
a ■■e ■■ment ■ i n t he manner proYida d by law .
Section 18. ApproYa l of Offic ial s t atea ■ot. Tha city Council
h ereby approve• the Preliminary Official Statement in the form pre ■■nt ed at
this meeting . The city Cou ncil hereby authorizea tho Director o f Financial
Service• to approve on behalf o f tha City a final Of f i cial Statement containing
any updated informat ion regarding item ■ dd ■cribe in the Pre liminary Official
Statement which become known to the City prior to the i ■au an ce o f the date of
dellv ■ry of the 8C'l n d ■• Copi ■■ o f ■aid Pre liminary Official Statement and final
Official Sta.tam... •re hereby authorlr.e d to ba di ■trlbuted by the City to all
lntare ■ted pc in connec tion with t he ■ala of the Bonda .
l •cti on 19. Coate aod. Bxp ■111 .. ■• A.11 coat ■ a nd expen••• incu rred
ln connection with the ia ouanc a and p ayme nt of t he Bonda shall ba paid from
proc~eda of the Bonda , and ■uch money ■ are he reby appropriated for that
purpo ■e . · •■ct.ioa. 20. S'■'f'■rability . If any ono or mo re aectione or part• o f
thi ■ Ordinance be adjudged unenforce able or lnvalld, such judgement •hall not
affect, impair o r invalid ate the remaining provi ■iona of t hi ■ Ordinance, tho
intention being that the var i ous proviaiona hereof a re aevarabla.
section ll. ~•..!.!!.!:• All Ordh.ances or re ■olutione , or part•
thereo f , inconala tent o r in c ~nflict with thi• Ord inance a re horeby repealed t o
the extent only of such i nc onaletency or confllct.
Section l l . OrcH.n aace Irrepealabl•. 1'fter aaid B ond ■ are i ■aued,
this ord i n ance shall b e and remain irrepealable u nt i l aaid Bond a and t he
interest. thereon s hal l hava been full y p ait1, satisf i ed and d isch arged .
Section 23 . Pub l i cation and Effective Date . Thia Ordinance, after
its final pa ■■age, a h all be numb ered and recorded , a nd t h e adopt ion and
public at i o n sha ll be a uthe nticated by t he aignatureo o f t h o Mayor and the city
-1 3 -
Clerk, and by the certificat e o f Publication. Thia ordinance shall becoma I
affective thirty (30) day ■ afte r publlcatton tallowing final pae ■aga.
Introduced, read i n full, and. paaeed on firat reading on the lat
d&y of July, 1991.
Publl ■had ■n a Bill f or ,,n Or dlnanc o on tho 4 t h day of July, 1991.
Read by t i tle and pa ■eed o n final rea ding on the 15 th day of July,
1991-
?ub llahod by t itle •• Or dinance No.
18th d a y o f July, 199 1.
Serlaa o f 1991, on the
ATTESTED :
Colorado ,
pa ■■e d on
1991.
I, Patri cia H. Cro'f, City Clark fo r the City of Engilewood,
hereby certif y tha t the foregoing la a true copy of the Ordlna.nce
fina l reading a.nd publ iahed by title aa Or dinance No. £1., Serie ■ of
lj!_a;-;~Jv:£1/~
· Patric ia H . Crow
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