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Home My WebLink About1978 Resolution No. 018• • RESOWTION NO. !!__, SERIES OF 1978 A RESOLUTION SUPPLEMENTING ORDINANCE NO. 1, SERIES 1978, AND MAKING CERTAIN FINDINGS AND DETERMINA- TIONS, PROVIDING POR THE PORN AND TERMS OF, AND TBB PLACB OF PAYMBNT POR, THE CITY'S HOSPITAL RBVBNUB BONDS, SBRIBS 1978 (PORTBR MBIK>RIAL HOSPITAL PROJBC'l') AND ITS SPBCIAL OBLIGATION BONDS, SBRIBS 19781 PROVIDING FOR TBB APPLICATION OF THE PIOCBBDS FIOM THE SALB OF SAID BONDS TO THE PURalASB OF THE FIRST tl:>RTGAGE NOTE NO. 1 AND THE SPBCIAL OBLIGATION NOTE, RBSPBCTIVBLY, OF PORTER MBMORIAL HOSPITALJ AtJTBORlZING 'l'BE FORM, TERMS, BXBCUTION AND DBLIVBRY OF A M>RTGAGE AND SECURITY AGRBBMBNT BB'l'MBEN THE CI'l'Y OF ENGLEWOOD, COLORADO AND PORTBR MBM>RIAL HOSPITAL PROVIDING FOR THE PAYMBN'l' OF TBE FIRST M>R'l'GAGE NOTE NO. 1 AND THE tl:>RTGAGING OF CERTAIN RBAL PIOPERTY OF PORTER MBlmRIAL HOSPITAL TO SBCURB PAYMBN'l' OF TBE FIRST ll>RTGAGB NOTB NO. 11 AUTHORIZING THE FORM, TERMS, BXBCU'l'ION AND DELIVERY OF A SBCURI'l'Y AGREEMENT BBTWBEH THE CI'l'Y AND POR'l'BR MBM>RIAL HOSPITAL PR:>VIDING POR THE PAYMBll'l' OF TBE SPECIAL OBLIGA- TION NOTB AND THB GRANTING OP A SBCURI'l'Y INTEREST IN CERTAIN INCOMB OF PORTBR MBM>RIAL HOSPITAL TO SBCURB PAYMBR'l' OF THE SPECIAL OBLIGATION NOTEJ AU'l'BORIIING AHD PROVIDING FOR THE PAYMENT OF THE HOSPITAL RBVBNUE BONDS, SERIBS 1978 (PORTER MBM>RIAL HOSPITAL PROJBCT) AND TBE SPECIAL . OBLI- GATION BORD&, SBRIBS 1978 BY TBE PLBDGB OF REVE- NUBS DBRIVBD FIOM THE Jl:>R'l'GAGE AND SECURITY AGRBBMBlft' AHD THE SBCURI'l'Y AGREBMBNT, RESPEC- TIVBLYJ AU'l'BORIZING THE FORM, TERMS, EXECUTION AND DBLIVBRY OF A TRUST INDBN'l'URE BB'l'MBEN THE CITY OF ENGLEWOOD, COLORADO AND THE COLORADO NATIONAL BANK OF DEHVBR, DENVER, COLORADO, JUI" TRUSTEE, PROVIDING FOR THE PAYMENT OF THE HOSPITAL REVBNtJE BONDS, SERIBS 1978 (PORTBR MBM>RIAL HOSPITAL PROJBCT) AND ASSIGNING THE CITY'S RIGHT TO PAYMENT ON THE FIRST Jl:>RTGAGE NO'l'B NO. 1 AND OTHERWISE UNDER TBE JC>RTGAGB AND SBCURI'l'Y AGRBBMBN'l' TO SAID TRUSTEE POR THE BEHBFIT OF THE HOLDERS OF SAID BONDS1 AU'l'BORIZING THE FORM, TERMS, EXECUTION AND DELIV- ERY OF A TRUST INDBN'l'URB BETWEEN 'l'BE CI'l'Y OF ENGLBlfOOD, COLORADO AND FIRST WISCONSIN TRUST COMPANY, MILWAUKEE, WISCONSIN, AS TRUSTEE, PRO- ~a, .. • • • VIDING FOR THE PAYMENT OF THE SPECIAL OBLIGATION BONDS, SERIES 1978 AND ASSIGNING THE CITY'S RIGHT TO PAYMBNT ON THE SPECIAL OBLIGATION NOTE AND OTHBNfISB UNDBR THE SECURITY AGREEMENT TO SAID TRUSTEE FOR 'l'BE BENEFIT OF THE HOLDERS OF SAID BONDSJ AtJ'l'llORIZING THE FORM, TERMS, EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT WITH RESPECT TO TBB SALB OP 'l'BE HOSPITAL REVENUE BONDS, SERIES 1978 (POR'l'BR MBll>RIAL HOSPITAL PROJECT) BY TBB CITY TO THE INITIAL PURCHASERS THEREOF, AND TBB PORN, TERMS AND ACCEPTANCE OP AN INDUCEMENT LBTTBR IN CONNECTION THEREWITB1 AUTHORIZING THE FORM, TBRMS, EXECU'l'ION AND DELIVERY OF THE BOND PURCBASE AGREBMBNT WITH RESPECT TO THE SALE OF TBB SPECIAL OBLIGATION BONDS, SERIES 1978 BY THE CITY TO TBB INITIAL PURCHASERS TBBRBOP, AND THE PORM, TBRMS AND ACCEPTANCE OP AN INDUCBMBNT LB'H'BR IN CONNECTION 'l'BEREWITHJ AtJ'l'llORIZING THE BXBCU'l'ION AND CIRCULATION OP A PRELIMINARY AND A PINAL OFFICIAL STATEMENT WITH RESPECT TO TBB SALB OP B0'1'H ISSUES OP SAID BONDS BY THE INITIAL PURCHASERS TBBRBOP TO SUBSEQUENT PURCllMERSJ AUTHORIZING '1'BE PORM AND EXECUTION BY TBB MAYOR OP A LB'l'TBR AUTHORIZING MILLER & SCBROBDER MJNICIPALS, INC., ON BEHALF OF THE CITY, '1'0 SUBSCRIBE FOR CERTAIN DIRECT OBLIGA- TIONS OP TBB tJNITBD STATES IN ORDER TO EFFECT ORB OP 'l'BE PURPOSES FOR WHICH BOTH ISSUES OF BC*DS ARB BEING ISSUED, AND RATIFYING SAID ACTION OP MILLER' SCHROEDER MUNICIPALS, INC.1 AND RELATED MATTERS. 2 WHEREAS, the City of Enqlewood, Colorado (the "City"), deairea to promote and stimulate the provision of more adequate hoapital care for families and persons within and near the City1 and WBBRBAS, the City Council of the City passed Ordinance No. 1, Serie• 1978 (the •Bond Ordinance•) on first readinq on January 3, 1978, and on second readinq on January 16, 1978, approving and authorizinq the issuance of bonds to be entitled .. • • • • •city of Bn9lewood, Colorado, Boapital Revenue Bonds, Series 1978 (Porter llellOrial Boapital Project)• (the "Revenue Bonds") and the iaauance of bonds to be entitled •city of Englewood, Colorado, Special Obligation Bonds, Series 1978" (the •special Obligation Bonda•) (the Revenue Bonds and the Special Obliga- tion Bonda being collectively referred to as the •sends"); and WBBRBAS, the Bond• are authorized to be ·and will be · iaaued. under and purauant to the provisions of Article 3 of Title 29 of th• Colorado Revised Statutes of 1973, as amended (the •Act•), which provides that the ·forms of the Bonds and certain tenu thereof must be set by the City in either an ordinance or a aupplemental resolution1 and WBBRBAS, Porter Memorial Hospital, a Colorado nonprofit corporation (the •eoapital•) has, within the past several years, acquired and constructed from its own funds certain hospital facilities (the "Project•) constituting a project under the Act, which Project is located within eight miles from the nearest point of the corporate limits of the City; and WBBREAS, the Hospital desires to be reimbursed for the coat of the Project as permitted under the Act1 and WHEREAS, the Hospital desires to refinance its outstand-" . ing First Mortgage Bonda, 1975 Series, issued in the principal U10unt of $8,000,000 (the •rirat Mortgage Bonda") and its 3 • • Di rect Obligation Notes, 1975 Series, issued in the principal a110unt of $5,000,000 (the •oirect Obligation Notes•) both i••ued to finance hospital facilities constituting a •project• under th• Act, which ho•pital facilitie• are located within ei9ht ail•• from the nearest point of the corporate limits of the City1 and 1111SRBAS, the Boapital desires to obtain a portion of the funds for the afore•aid purpo•e• by issuing and selling to the City it• Pirat Mortgage Note No. 1 (the •Initial Note") issued under and secured by a Mortgage and Security Agreement dated a• of February 1, 1978 (the •aevenue Bond Security Agreement") by and between the City and the Boapital1 and WBBRBAS, the Hospital desires to obtain a portion of the fund• for the aforesaid purposes by issuing and selling to the City it• Special Obligation Note (the •special Obligation · Note•) i••ued under and secured by a Security Agreement dated a• of February 1, 1978 (the •special Obligation Bond Security Agreement•) by and between the City and the Bospital7 and WHEREAS, it is hereby found and determined that reimburs- in9 the Bo•pital for the cost of the Project and refinancing the Hospital'• Pirst Mortgage Bonda and Direct Obligation Note• will promote the public health, welfare, safety, con- venience and prosperity of the City and its inhabitants by promoting and stimulating more adequate hospital care1 and 4 WHEREAS, the Bond Ordinance provides, among other provi- sions, for the forms of the Bond• and certain of their terms, but certain other terms are required to be determined by a supplemental resolution and the City is required to approve and authorize certain documents and to appoint a City Repre- sentative to act under certain of those docmnents1 WBBRBAS, there have been prepared and presented to this meeting the followings (1) The form of the Revenue Bond Security Agree- men ti (2) The form of the Initial Note1 (3) The form of the Special Obligation Bond Secu- rity Aqreement1 (4) The form of the Special Obligation Note1 (5) The form of Trust Indenture dated as of Febru- ary 1, 1978 (the •Revenue Bond Trust Indenture•) from the City to the trustee named therein setting forth terms, condition• and security requirements for the proposed Revenue Bonda, and including the forms of the proposed Revenue Bonds1 5 (6) The form of Trust Indenture dated as of Febru- ary 1, 1978 (the •special Obligation Bond Trust Inden- ture•) from the City to the trustee named therein, setting forth terJnS, conditions and security requirements for the • • • proposed Special Obligation Bonds,· and including the form of the proposed Special Obligation Bonds1 (7) The form of Induca.rit Letter (the •Revenue Bond Inducement Letter•) from the Hospital to the City and Miller & Schroeder Municipals, Inc. and Bosworth, Sullivan, a Division of Dain, Kalman & Quail, Incorpo- rated (the •underwriters•), requesting the City to issue and sell and the Underwriters to purchase the Revenue Bonda1 (8) The form of Inducement Letter (the •special Obligation Bond Inducement Letter•) from the Hospital to the City and the Underwriters, requesting the City to isaue and sell and the Underwriters to purchase the Spe- cial Obligation Bonds; (9) The form of the Bond Purchase Agreement (the •Revenue Bond Purchase Agreement•) by and between the City and the Underwriters, relating to the Revenue Bonds; (10) 'l'he form of the Bond Purchase Agreement (the •special Obligation Bond Purchase Agreement•) by and between the City and the Underwriters, relating to the Special Obligation Bonds1 (11) The preliminary Official Statement (the •Reve- nue Bond Official Statement•) dated February 23, 1978, 4eacribin9 the Revenue Bonds; 6 .. • 7 • • (12) The form of the Official Statement relating to the Special Obligation Bonds (the •special Obligation Bond Official Statement•), (13) The form of letter to be executed by the Mayor, authorizing Miller & Schroeder Municipals, Inc., on behalf of the City, to subscribe to certain direct obligations of the United Statea1 and (14) The Delegation Agreement dated February 14, 1978 (the •oelegation Agreement•) by and between the City, the Soap.ital and the City and County of Denver1 NOif, TBBREPORE, BE IT RESOLVED by the City Council of the City of Englewood, Colorado: Section 1. Finding and Determination. The .. finding and deteraination made in Section 1 of the Bond Ordinance is hereby ratified and confirmed as of the date hereof. Section 2. Determination of Revenue. The City Council hereby finds and determines that the amounts necessary in each year to pay the principal of, premimn, if any, and interest on the Revenue Bonda are required to be paid into the Principal Account, Interest Account, Debt Service Reserve Fund and Depreciation Reserve Fund, and are as set forth in the Revenue Bond Security Agreement1 and that the amounts necessary in each year to pay the principal of and the interest on the Special Obligation Bonds are required to be paid into the Special · . • • 8 Obligation Bond Fund, and are as set forth in the Special Obligation Bond Security Aqreement. The terms, conditions and provisions of the Revenue Bond Security Agreement and Special Obligation Bond Security Agreement are for all purposes incor- porated herein by reference and a copy of each ·is ordered filed by the City Clerk with the records of the City Clerk and identified as the Revenue Bond Security Aqreement and the Special Obliqation Bond Security Agreement referred to in this Resolution. Section 3. Forms of Bonds. The form of the Revenue Bonds and the form of the Special Obligation Bonds shall be as set forth in the Revenue Bond Trust Indenture and the Special Obliqation Trust Indenture, respectively, the terms, conditions and provisions of which Revenue Bond Trust Indenture and Special Obligation Bond Trust Indenture are for all purposes incorporated herein by reference, and a copy of each of which ia ordered filed by the City Clerk with the rec·ords of the City Clerk and identified as the Revenue Bond Trust Indenture and the Special Obliqation Bond Trust Indenture referred to in this Resolution. Section 4. Terms of the Revenue Bonds. The Revenue Bonds ahall be dated February 1, 1978. Interest will be payable on the Revenue Bonds on Auqust 1, 1978, and semiannually thereafter on each February 1 and Auqust 1 until the principal thereof • 9 • • shall have been paid. They shall be issuable as coupon bonds in the denoaination of $5,000 each, recjistrable as to principal only, and aa fully registered bonds without coupons in the denoaination of $5,000 or any integral multiple thereof (but not in exceaa of the principal amount of Revenue Bonds maturing in any particular year). The Revenue Bonds shall be issued as aerial bonds and aa term bonds and shall mature in the amounts, on the date• and bear interest at the rates per annum set forth in the following .. turity schedule: Maturity Schedule $4,585,000 in aggregate principal amount of Serial Bonds Due Interest Due Allount (February 1) Rate Amount (February 1) $220,000 1979 4.251 $235,000 1987 230,000 1980 4.50 345,000 1988 240,000 1981 4.85 370,000 1989 230,000 1982 5.00 390,000 1990 245,000 1983 5.15 415,000 1991 255,000 1984 5.30 440,000 1992 240,000 1985 5.45 470,000 1993 260,000 1986 S.60 $12,700,000 in aggregate principal amount of Term Bonds Due February 1, 2008 bearing interest at at the rate of 6.8751 per annum Interes·t Rate 5.85% 6.00 6.00 6.10 6.20 6.25 6.30 Section 5. Terms of the Special Obligation Bonds. The Special Obligation Bonda shall be dated February 1, 1978. Intereat ahall be payable on the Special Obligation Bonds on Auquat 1, 1978, and semiannually thereafter on each February 1 and Auguat 1 until the principal thereof shall have been paid • They shall be issuable as coupon bonds in the denomination of $5,000 each, registrable as to principal only, and as fully regiatered bonds without coupons in the denomination of $5,000 or any integral multiple thereof (but not in excess of the principal amount of Special Obligation Bonds maturing on any particular date). The Special Obligation Bonds shall mature 10 in the aDK>unts, on the dates and bear interest at the rates per annum aet forth in the following maturity schedule: Amount $340,000 490,000 455,000 275,000 Maturity Schedule Due August 1, 1978 February 1, 1979 August 1, 1979 February 1, 1980 Interest Rate 3.75% 4.00 4.00 4.10 Section 6. Execution, Payment and Redemption of the Bonda. The places of payment of the Revenue Bonds ahall be The Colorado National Bank of Denver, a national banking aaaociation, in Denver, Colorado, which bank is also acting as the trustee under the Revenue Bond Trust Indenture, and at the principal corporate trust off ice of The First National Bank of Saint Paul in St. Paul, Minnesota, as pro- vided in the Revenue Bond Trust Indenture. The places of payment of the Special Obligation Bonds shall be First Wis- consin Trust Company, a Wisconsin banking association, in Milwaukee, Wisconsin, which bank is also acting as the trustee under the Special Obligation Bond Trust Indenture, and at the • • • principal corporate trust off ice of The First National Bank of Saint Paul in St. Paul, Minnesota, as provided in the Special Obliqation Bond Trust Indenture. The Revenue Bonds and the Special Obliqation Bonda shall be executed, and the Revenue Bonda shall be subject to redemption, as set forth in the Revenue Bond Trust Indenture and the Special Obligation Bond Trust Indenture, respectively. Section 7. !pproval of Initial Note and Special Obliga- tion Note and Their Assiqrunent. The Initial Note and the Special Obligation Note from the Hospital to the City, in the forms preaented to this meeting, copies of which are ordered filed with the City Clerk with the records of the City Clerk and identified as the forms of Initial Note and Special Obligation Note preaented to this meeting, are in all respects approved, authorized and confirmed, with such changes as the Mayor deems necessary or proper, and the Mayor is authorized and directed to assign, and the City Clerk is authorized and directed to affix the seal of the City to and attest the assignment of the Initial Note and the Special Obligation Note to the Trustee pursuant to the Revenue Bond Security Aqreement and the Special Obligation Bond Security Agreement, respectively. Section 8. Approval and Authorization of Revenue Bond Security Agreement and Special Obligation Bond Security Agree- ment. The Revenue Bond Security Agreement and the Special 11 • • • 12 Obligation Bond Security Agreement, in the forms presented to thi• .. eting, copies of which are ordered ·filed by the City Clerk with the records of the City Clerk and identified as the forma of Revenue Bond Security Agreement and Special Obligation Bond Security Agreement presented to this meeting, are in all reapecta approved, authorized and confirmed, and the Mayor is authorized and directed to execute, and the City Clerk is authorized and directed to affix the seal of the City to and att••t the Revenue Bond Security Agreement and the Special Obligation Bond Security Agreement in substantially the forms now before this meeting and hereby approved, or with such change• therein aa shall be approved by the officers of the City executing the same, their execution thereof to constitute concluaive evidence of the City's approval of any and all change• or revision• thereof from the forms now before this .. eting1 and from and after the execution and delivery of the .... , the officers, agents and employees of the City are hereby authorized, empowered and directed to do all such acts and thing• and to execute all such documents as may be necessary to carry out and comply with the provisions of the same as exe- cuted. Section 9. Approval and Authorization of Revenue Bond Trust Indenture and Special Obligation Bond Trust Indenture. The Revenue Bond Trust Indenture and the Special Obligation • • • Bond Truat Indenture, in the forms presented to this meeting, copies of which are ordered filed by the City Clerk with the records of the City Clerk and identified as the forms of Reve- nue Bond Trust Indenture and Special Obligation Bond Trust Indenture presented to this meeting, are in all respects approved, authorized and confirmed and the Mayor is authorized and directed to execute, and the City Clerk is authorized and directed to affix the seal of the City to and attest the Reve- nue Bond Truat Indenture and the Special Obligation Bond 13 Truat Indenture in substantially the forms now before this meeting and hereby approved, or with such changes therein as ahall be approved by the officers of the City executing the ...., their execution thereof to constitute conclusive evidence of the City's approval of any and all changes or revisions thereof from the forms now before this meetingJ and from and after the execution and delivery of the same, the officers, agents and employees of the City are hereby authorized, em- powered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and COllPlY with the provisions of the same as executed. Section 10. Aperoval and Authorization of Revenue Bond Purcbaae Aqreement and Special Obliqation Bond Purchase Agree- .. nt. The Revenue Bond Purchase Agreement and the Special Obli gation Bond Purchase Agreement, in the forms presented to ' • • • 14 this meetinq, copies of which are ordered filed by the City Clerk with the records of the City Clerk and identified as the forma of Revenue Bond Purchase Aqreement and Special Obliqation Bond Purchase Aqreement presented to this meeting, are in all re•pect• approved, authorized and confirmed and the Mayor is authorized and directed to execute, and the City Clerk is authorized and directed to affix the seal of the City to and atte•t the Revenue Bond Purchase Agreement and the Special Obliqation Bond Purchase Aqreement in substantially the forms now before this meetinq and hereby approved, or with such chanqea therein as shall be approved by the officers of the City executinq the same, their execution thereof to consti- tute conclusive evidence of the City's approval of any and all chanqea or revision• thereof from the forms now before this ID8etinq1 and from and after the execution and delivery of the aame, the officers, aqents and employees of the City are hereby authorized, empowered and directed to do all such acts and thinqs and to execute all such documents as may be necessary to carry out and comply with the provisions of the same as exe- cuted. Section 11. Authorization of Revenue Bond Official ·state- ment and !Pecial Obligation Bond Officia·1 Statement. The preliainary Revenue Bond Official Statement and the form of the Special Obliqation Bond Official Statement, in the ·forms presented to this meetinq, are authorized, and the circulation • • • 15 of the same by the Underwriters in connection with the sale of the Bonda is hereby approved and ratified. The Mayor and the · City Clerk are hereby authorized and directed to execute a final Official Statement to be used in connec·tion with the issuance and sale of the Revenue Bonds and a final Official Statement to be used in connection with "the "issuance and sale of the Special Obligation Bonds, and the UnderWriters are authorized to circulate the final Official Statements in connection with the sale of the Revenue Bonds and the Special Obligation Bonds; provided, however, that the authorization of the preliminary Official Statements and the execution, deliv- ery, approval and authorization of the final Official Statements shall not be deemed or construed as a representation by the City, the Mayor or the City Clerk as to the accuracy or com- pleteness of any information contained therein with respect to the Hospital or the hospital facility. Section 12. Approval and Authorizatio·n of Re·vanue Bond Inducwnt Letter and Special Obliqation Bond Inducement Letter. The Revenue Bond Inducement Letter and the Special Obligation Bond Inducement Letter, in the ·forms presented to this maetinq, copies of which are ordered filed by the ·city Clerk with the records of the City Clerk and identified as the forms of Revenue Bond Inducement Letter and Special Obliqation Bond Inducement Letter presented .to this meeting, are in all • • • 16 respects approved, authorized and confirmed, and the Mayor is authorized and directed to accept, and the City Clerk is authorized and directed to affix the seal of the City to and atteat the Revenue Bond Inducement Letter and the ·spec'ial Obligation Bond Inducement Letter in substantially the forms now before this •eting and hereby approved, or with such changes therein as shall be approved by the officers of the City executing the same, their execution thereof to constitute conclusive evidence of the City's approval of any and all changes or revisions thereof from the forms now before this meeting1 and from and after the execution and delivery of the same, the officers, agents and employees of the City are hereby authorized, 8111POWered and directed to do all such acts and thing• and to execute all such documents as may be necessary to carry out and comply with the provisions of the same as exe- cuted. Section 13. Approval of Subacriptions for Gove·rnment Obligation•. In connection with the refinancing of the Hospital's Direct Obligation Notes and Pirat Mortgage Bonds, it is proposed that a portion of the proceeds of the Bonds be expended to acquire direct obligations of the United States of America (the •Government Obligations•) to be held in escrow, the maturing principal of which, together with a beginning cash balance, will be used to pay said Direct Obligation Notes and First • • • • 17 Mortgage Bonds, and that the interest thereon, together with a beginning cash balance, will be used to pay the principal of and interest on the Special Obligation Bonds as the same become due. Miller & Schroeder Municipals, Inc. is hereby authorized and directed to sign and submit subscriptions for said Govern- ment Obligations on behalf of the City to the Federal Reserve Banlt of Denver, and the actions of Miller & Schroeder Municipals, Inc. in signing and submitting such subscriptions are hereby ratified. Section 14. !peroval of Delegation Agreement. The Delegation Agreement, as executed by the City on February 14, 1978, is hereby in all respects approved, ratified and con- firmed. Section 15. App()intment of "Authorized Municipality Representative•. The City Council hereby appoints the Mayor as the •Authorized Municipality Representative• to represent the City in certain of these transactions, with the Mayor Pro Tam as his alternate. Section 16. Further Authority. The Mayor and City Clerk and other proper City officials, and each of them, are hereby authorized to execute and deliver for and on behalf of the City any and all additional certificates, documents and other papers and to perform all other acts they may deem necessary or appropriate in order to implement and carry out the matters authorized in the Bond Ordinance and this Resolution • • • • . 18 ADOPTED AND APPROVED THIS 6th day of March , 197 8 ATTEST: ~~-Treasurer I, William D. James, ex officio City Clerk-Treasurer, of the City or Englewood, Colorado, do hereby certify that the above and foregoing is a true, accurate and complete copy of Resolution No. 18 , Series of 1978. ~-~-ex officio C~k-Treasure;-