HomeMy WebLinkAbout1990 Resolution No. 104RESOLUTION NO, /ti;/
SERIES OF 1990
A RESOLUTION AWARDING THE CONTRACT FOR THE
PURCHASE OF A SPECIAL REVENUE GOVERNMENTAL
AGENCY BOND OF THE CITY OF ENGLEWOOD,
COLORADO, IN THE PRINCIPAL AMOUNT OF
$12,750,000.
WHEREAS, in order to provide funds to extend and improve
the City's sewage treatment plant, the City Council of the City
has determine<! to issue its special revenue governmental agency
bond in the principal amount of $12,750,000 (the "Bond"); and
WHEREAS, notice of the sale of the Bond has been
published in the time and manner. required by law; and
WHEREAS, all bids for the purer ose of tha Bond which
were received prior to 2: oo P.M.,
hav e been opened and tabulated,
Council; and
on Monday, December 17, l.990 ,,
and considered by the City
WHEREAS, it is to the best advantage of the City to
issue and sell said Bond to the Colorado Wa t er. Resource ■ and Power
Development Authority, the best bidder therefor, in accordance
with their proposal;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CIT'l OF
~NGLEWOOD, COLORADO:
Section l. Award of Bond. Th• spacial revenue
Governmental Agency Bond of the City in the principal amount of
$12,750,000 shall be issued and sold to the Colorado Water
Resources and Power Development Authority, the beat bidder for the
Bond.
~ection 2. Delivery of Bond, The City Council and the
officP1 s of the City are authorized to do any and all things
nec.assary to complete th.a delivery of the Bond to the purchaser
thereof.
Section 3 . severability. If any one or more sections
or parts of this Resolution shall be adjudged unenforceable or
ir.valid, such judgment shall not affect, impair or invalidate the
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i:emaining p .oviaiona ot thl,s Resolu tion, it being th• intention
that th• various pro,•isiona hereof a r l'! 11evereb!e .
Section 4. Repealer. At l ~••elution■, or part■
ther,.»t, in conflict wit to thls R-■olution ar.4 hereby r-■cinded and
annulled.
ADOPTED !,Ji:) APPROVED Thia 17th day ot December, 1990.
( SE AL)
ATTESTED:
~·· . .,,'//? ./ ~,.w -~-
furcl~ H. Crow, City Cle,,lt-·
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December 17, 1990
INITIATED BY
STAFF SOURCE
COUNCIL COMMUNICATION
AGENDA ITEM
11 (kl
SUBJECT Resolution
awarding the
contract for the • ,rchase of a
Spe cial Revenue
Governmental Agency Bond .
Bi -C ity Supervis ory Committee
Linda Martin , Acting Director uf Financial Services
ISSUE/ACTION PROPOSED
Adoption of the resolution awarding th e contrac•. for the purch ase of a Special
Revenue Gove rnmental Agency Bond of the City of Englewood , Colorado , in the
principal amount of $12,750 ,000 .
PREVIOUS COUNCIL ACTION
Gn December 3, 1990, City ouncil adopted Resolution No. 89 , providing for the
Notice of Sale of a Special Revenu t Governmental Agency Eland of the City of
Englewood, Colorado , in the principal amount of $12,750 ,000 and pro\1di~:1 for the
publication of such n otice .
STAFF ANALYSIS
In order to comply with the City of Englewood Home Rule Charter requirement for
the bidding on bon d issues , the City has advertised for bids . The bid opening is
scheduled for 2:00 p .m., Monday, December 17, 1990. We will report the results to
you Monday night. It is anticipated that the Authority will be t he single bidder. The
antici pated closing d ate on the bonds is t11e end of Ja11uary , 199 1.
FINANCIAL
No fin ancial imp acts are anti cipated r egardi n g this item .