HomeMy WebLinkAbout1969-04-04 (Special) Meeting Minutes390
SPECIAL MEETING:
COUNCIL CHAMBERS
CITY OF ENGLEWOOD, COLORADO
APRIL 4, 1969
The City Council of the City of Englewood, Arapahoe
County, State of Colorado, met in special session Friday,
April 4, 1969, at 4:30 P.M. in Conference Room B, City Hall,
Englewood, Colorado.
Clerk:
The following "Notice of Call" was read by the City
April 4, 1969
NOTICE OF CALL BY THE MAYOR
FOR SPECIAL SESSION OF THE CITY COUNCIL
FRIDAY, APRIL 4, 1969 --4:30 P.M.
The City council of the City of Englewood, Arapahoe County,
Colorado, is hereby called to a special meeting in the City
Hall, 3400 South Elati Street, for the purpose of considering
a Bill for an Ordinance amending Ordinance No. 14, Series of
1965, said Ordinance dealing with special improvement district
procedures.
/s/ STANLEY H. DIAL
City Manager
SHD/mmb
ACKNOWLEDGEMENT OF RECEIPT OF NOTICE
The following persons, all Councilmen of the City of Englewood,
Colorado, do hereby acknowledge receipt of Notice of the above
special session:
/s/ John J. Lay
/s/ Dick Lone
/s/ Elmer E. Schwab
/s/ Louis Parkinson
/s/ Dallas Dhority
Notice ·was given to the following Councilmen who were not in
attendance:
councilman Kreiling
Councilman Brown
Mayor Schwab, presiding, called the meeting to order
and asked for roll call. Upon the call of the roll, the following
were present:
Councilmen Parkinson, Lone, Lay, Dhority, Schwab.
Absent: Councilmen Kreiling, Brown.
The Mayor declared a quorum present.
Also present were: City Manager Dial,
Assistant City Manager Mack,
City Attorney Criswell,
City Clerk Lyon.
City Manager Dial stated that Ordinance No. 14, Series
of 1965 which sets forth district assessment and construction pro-
ceedings adopted portions of the State Statutes dealing with
special improvement districts. Mr. Dial stated that of specific
concern were those portions of the State Statutes setting the
interest rates at a maximum of 6 per cent on special improvement
district bonds and assessments. Mr. Dial stated that the 20-
Bond Index presently in effect is at 5.30 per cent and that if
municipal bond interest rates continue to climb there is the
possibility that the bonds on Paving District No. 18 would
receive a bid slightly in excess of 6 per cent. If such a
situation would occur the City would be unable to proceed with
the district unless the 6 per cent maximum were to be abolished
and a higher maximum substituted by the City Council.
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Minutes of the April 4, 1969, special meeting.
City Council discussed the problem.
Introduced as a Bill by Councilman Parkinson and read in full,
A BILL FOR
AN ORDINANCE AMENDING SECTION 14.2 OF THE MUNICIPAL CODE
OF THE CITY OF ENGLEWOOD, AND DECLARING AN EMERGENCY.
COUNCILMAN PARKINSON MOVED, COUNCILMAN LONE SECONDED,
THAT THE PROPOSED BILL FOR AN EMERGENCY ORDINANCE BE PASSED ON
FIRST READING. Upon the call of the roll, the vote resulted
as follows:
Ayes: Councilmen Parkinson, Lone, Lay, Dhority, Schwab.
Nays: None.
Absent: Councilmen Kreiling, Brown.
The Mayor declared the motion carried.
City Council discussed the maximum interest rate to be
charged on assessments. It was the consensus of Council that
the interest rate not be less than 6 per cent: but should the
interest rate on the bonds fall in excess of 6 per cent, that
assessments would bear the actual interest rate on the bonds
plus .5 per cent.
COUNCILMAN LONE MOVED, COUNCILMAN LAY SECONDED, THAT THE
MEETING BE ADJOURNED. Upon the call of the roll, the vote resulted
as follows:
Ayes: Councilmen Parkinson, Lone, Lay, Dhority, Schwab.
Nays: None.
Absent: councilmen Kreiling, Brown.
The Mayor declared the motion carried and the meeting adjourned
at 5:25 P.M.
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