HomeMy WebLinkAbout1976 Resolution No. 007• •it
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A l'I •,11 1.u ·1 I c 1;: ,l'. II• •fl I ;• I l~G 1'11F: 1•1 :111.J Cl .'J' J ''N
•1r :•,,·; 1 c •~ 11r ~.;.i .• : '.J r s t ;.:u~ .,, n;~wi: utn ;~.01 :;r.
1·r1:111 s, s u~Jl.s 1!176, nr ;·u.: c1 ·ry or 1.r:r.1.n-:000,
M l-'l•/,!tO[ l"<ll J:;1 v, ('O!.')PJ,!JO, J:-0 T IU: l •J1J~CJPAL
;,:.;o~:;T OF' S J • .JG ,OvO, u ,;·a:o 1-'i .. l-cCH 1, 1976.
1mi;tct:AS, the rat y c,f t:n9l c wood, ,\r1tiJ.:ihoc County,
Color ~do (he r e in th• •c i ty•) has ~r e viously issued $1,550,000
o f j ts Sc·1o c r Ac.venue Ponds , S<?rias 1975, dated March 1, 1975,
and $1,022,000 of its ~c fun ~ing S ~wer Revenue Aonds, Scrias
l91i2, uatPd Uc,v t:mh c r 1, 19621 and
~llCk~AS, the City d eems it ne cessary and.desirable
~ that sai d outstandin9 1975 J as ue of bonded indcbte~ncss be
r~fund c d by th• issuance of S e wer Revenue Refunding Bonds,
Suries 1976, dat•d March 1, 1976, in the principal amount
of $1,~16,~?ri and
WHEREAS, the City Council h•• determined and hereby
detenaine• that it i• advantageous and favorable to the City
to refund said oulat a ndin9 sewer revenue bonds in said amount1
•nd
WHEREAS, the Charter of said City and the laws of
the State of Colorado require that it is necessary to provide
for the vu hlic sale of the bonds1 end
NOW, THEREFOR!!, 8£ JT RESOLVED BY THE CJTY COUNCIL
Of' THE CITY OF EHGLEWOODs
1. That noti~e of sa le of Sewer Revenue Refunding
8nrtds , f.r•rir!l 1 9 76, I n the• princ ip.il amou nt of $1,516,000,
5hall be publi s hed one tittle in both The En9lcwood Herald-
.• r1tt1nrl, "11rw •l l'·'l ••·t h.•vi n•t '1""'""1 r lri·111.,tlnn lri thr Clty
o f F.nglcwood, and in The Daily Journal, a financial newspaper
pub ) ishcd in Denver, Colorado, at lc•ast five days prior to
the date of sale.
2. The noti ce of sale shall be in substantially
t h e following for•s
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uu11 r.r. CJF' s1.1.E
..i:wt .R Pr.V t •:111; 1<1 rPr:r . p :c; J•r.:~ni;, snn r.s J !I 76, s 1, ~ J 6, ooo
C l 1'Y o r 1 .:w 1.1 .~'"'"· J\1 ·:.r;,110 E COllln'Y, ('01.0JJJ.DO
!';l\1.1: ,,,,, r;: 111•:~.01,y, 1 1 .HH ~·""Y J 1, 19 76
ThC! City C"cumc il of the City of F.n<Jlc-wood, Colorado,
will r ecei ve "lt-Jl~·d h i dfl al the offic:e nf the Director of
Fin ~ncc, Muni~ip•l 8u1ldin9 3400 South Elati Street, Cn9lewood,
Colorado 80110, until 2:00 P.M., H.S.T., on Tuesday, the 17th
day of Fcbru.Jry, 1976, for the purch•fle of $1,516,000 of Sewer
Revc nuo RefundincJ Bond•, Serie• 1976, dated fli:lrch 1, 1976,
Th e l>ond• r.ha ll be in the dcn~min~l ion of $5,000 ~~ch,
r1u n.h<'?n?d 1 to J OJ, inc lu fli ve, a nd one bo nd numbered 304 in the
dcn•>illin•ti on of Sl,000, !'hall bear· interest pe>)•.,ble September 1,
1976, and •cmi•nnually thereaft~r on the 1st day of March and
the l•t d.iy of Septc:m bcr c•ch )'C!ar, and shall mature sC?rially
on ~cptcmbe r 1, •• follov•a
~unt Maturity
s 70,000 1976
7!», 0 00 1977
I0,000 1978
115,000 1979
85,000 1980
95',00D 1981
100,DOO 1982
110, DOD 198)
110,000 1984
12 5',000 1985
llO, 000 1986
llS,000 1987
10,000 1981
US,000 Hit
16,000 1990
Bonds of thi• i s"ue •·•"turin9 on or before September 1,
1984, •hall not be r •deemab le prior to their respective maturity
d atea. Those bonds 11Utturin9 on Se ptem ber 1, 198S, and thereafter,
•h•ll be redee ... ble at the option of the City, in inverse numerical
order, on Seplelllbe r 1, l 914, and on any .i ntere&t payment date there-
after, upon pay .. nt of par and accrued int~re•t.
Principal and intere•t will be payable at the Fir•t
National B~nk, En9l c wood, Colorado.
The bond• and the intere•t thereon •hall be payable
•olely f ra. the net income and revenue to be derived from the
oper•tion of the •ewer •y•te• of the City, and will be a firet
lien on •uch net revenue• on a parity with the lien of the out-
standin9 Refundin9 Sever Revenue Bond•, Serie• 1962, dated
Novemb@r 1, 1962, of the City. The Ordinance authorizin9 the
issue of Sewer Reven ue Re funding Bonda, Serie• 1976, shall
cont•in the cu&tomary covenant• and a9reeMent• relatinq to the
r ~uri ty the r eo f, includi n9, a1110n9 others, cov~nants to establish,
main ta in, collect and en force a schedule of rate• and charge• for
the u•e of the sewer ayat.-. Additional parity lien bonds may
b~ i ssued i f the Cit y is In compliance with the requirementa ·~f
th~ aulhorizl n9 Ordinance.
The bonds will be delivered at any bank or trust
compa ny in Denver, Colorado, or any other place at the reque•t
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"'"' 1•·1•1.:.1• ot 1 :11 · ,.u11h.11.1•r. It ill •• ntl,·l 1•ilt1•d lt111t 1l C'livr-1y
n ( '''' 1 ... , .. ,,. ... 111 1 . ., '""''" ~ltliln •dM l)' (t.ot •tayi; f o l)owl11Cl the
.1w.11t.I ,,r t hr '"'"''"·
R11ls 1ttay ti<' 1·cmdit i o 11,.d upnn n·c<·ipt of th.-itf•JllO\'frr9
1,..,,,1 t •J1l11ion of lht• IJV 11d o1U••rru:;•s n;1mt•d hclow, but must in any
.ond 11111 o llu.:r fl'5P''C'l8 Le uncondition111.
The Jnt~r~£t rates on lhPse Londs wjll be fixed by the
City f ive r!aya vrjor to the ••le. The honds wi 11 be alo'ard·~d on
the La~is of the ~id d cs i9natin9 lhc hi?hcst a~ount of pr~mium
.1l>ovc p•r. t:o .... coupons s hall be allowed nor shall discount
bids be c~~&i d~r c -d.
CU SJP num~~r• wjll be provid~d for th~se ~onds at the
r ~qu~st un1 e xp e n se of the successful bidder. The City will not
be n ·sp• .. .ms ible for e rrors in such number a.
Jn the opinion of bond counsel, the interest on s111id
bonds will ~exempt frOll taxation by the Cnited~Statcs of ~merica,
unde r p rese nt r c der•l Jnconie Tax i...ws, and ~11 pertjncnt Internal
Rcv,nue Service re9ulations which h•ve been issuedr such interest
will 3lso be ex~19pt frOl9 taxation by the State or Colorado, except
inhcrjtancr, ~•tat• end transfer taxes, under present laws of th•
Stato of Co1or3do. ·
';JHt Cit)• •h•ll r••' rve the right to waive any defect
or irregularity in •ny bid.
The printed bonds, a certified transcriot of le9•l
procerdin9s and the •pprovir19 opinion of Hcssra. Tallmadge,
T•ll ... d9•, Wallace • Hahn, Attorneys of Denver, Colorado, will
bo furnished at the City'• exp~n••· A copy of the aoproving
opinion will be printed on each bond.
A cashier'• check or certified check drawn on a ~nt
or trust company, payable to the Ctiy of Englewood, Colorado,
in the a.aunt of S J O,o~o_.oo r.iust accompany each bid. The
check of the successful ~id<fitr vill be retained by the City aa
liquidated d•lfta9•• in th• event the bonds are not taken up and
paid for in accordance with the bid. Checks of unsuccessful
bidder• will be returned irnn.ediately.
The City Council will nieet on February 17, 1976, to
consider th• award of th• bonds.
Additional infor .. tion concerning the City and this
issue can be obtained frOll Mr. WilliaJ11 D. James, Director of
F i nance, 3400 South Elati Street, Englewood, Colorado 80110,
or frOlll Hanifen, Jahoff and Samford, Inc., 1624 Tremont Place,
Denver, Colorado 10202, the financial consultant to the City.
U76.
BY ORDER OF THE CJTY COUNCIL this 2nd day of February,
/a/ William D. James
Director of Finance
En~lewood, Colorado
Publish ins Englewood Herald-Sentinel
The Daily Journal
Publish on: February 4, 1976 -Englewood Herald Sentinel
February 6, 1976 -The Daily Journal
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~ J. I 11 .... 111 '"" ',, 11 .c ....... I ( "t I U ll uf l hu 11ul. co
of :o;.a)c n ·f1 ·rrc·rl to in ~1 c tl o n l, the Din•ctor of Fin.ince
and ll a ni fl!n, Jmhof f .rnd ~ .. i:i rord, Jnc., the financial advisor
lo the City, ~re ~uth o ri zc d to for~drd • co~y of the notice
of salo to inve s t~~nl b~nkin9 firms, bank• and oth~rs who
~y be int ~rc ~t~d in bidding on the bond•.
RESOLUTION /\00?1 ED ,\!-;D l.PrJtOVED this 211d t:'lay of
Fi>Lr uery, J976.
(5 E A L) ~#,~ Mayor Pro Tern
ATT£ST1
I, W111ia111 D. James, ex officio City Clerk-Treasurer
of the City of Englewood, hereby certify that the above and
foregoing fs a true, accurate and complete copy of Resolution
No. ! , Series of 1976.
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