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Home My WebLink About1975 Resolution No. 013• .~ J ( ..0 RESOUJTION NO. L..lfl_, SERIES -OF 1975 A RESOLUTION AUTHORIZING THE PUBLICATION OF NOTICE OF SALE OF GENERAL OBLIGATION REFUNDING WATER BONDS OF THE CITY OF ENGLEWO~OD, ARAPAHOE COUNTY, COLORADO, IN THE AMOUNT OF $ /~ ,...., , DATED p/ • APRIL 1, 1975. / ·· WHEREAS, the City of Englewood, Arapahoe County, Colo- rado (herein the "City") has outstanding $2,750,000 of its General Obligation Refunding Water Bonds, Series 1965, dated September l, 1965, and $1,775,000 of its General Obligation Water Improvement Bonds, Series 1971, dated April 1, 1971; and WHEREAS, the City deems it necessary and desirable that said outstanding bonds described above be refunded by the is- . ......... suance of General Obligation Refunding Water Bonds, Series 1975, in an amount of $_ ; and WHEREAS, the City Council has determined and hereby de- termines that it is advantageous and favorable to the City to refund said outstanding bonds; and WHEREAS, the Charter of said City requires that all bonds shall be sold to the highest and best bidder for each; and WHEREAS, it is necessary to advertise the proposed issue of refunding bonds for publ i c sale; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD: . .. •.·· • Section 1. That Notice of Sale of City df Englewood, Arapahoe County, Colorado, General Obligation Refunding Water Bonds, Series 1975, in the principal amount of $ __________ ~ be published once in the Englewood Herald not less than five days pr i o r to the sal e date, an ti that the sale of said bonds shall be held on Mond,,·, Marc h 1, 1975, at the office of t he _r e c t t.::. ~.Jf Finance, Ci Ly of C:n g lewood, Municipal Building , ft~O O S r.:~ Ela t i, Engl e wood, Colo r ado 80110, until 11 o'clock M.D.!>.1'.), a t whi c~ time the City will receive sealed bids at said place . 2 I s:: tO u Cl) .0 =' Cl) c:: ..... cu .0 -.-4 .-4 • .c en cu .-4 • en ~ 0 QI CJ .... u 0 z "O .. .... e • • 0 ~ u . cc 00 ; • .c c: ~ .... .... ~ ' :. 0 .-4 N .-4 0 c: ~ 0 .... cu u .c u u cu en ~ .-4 .-4 • .... "" ~ ) • ) ) • .) • .. '- NOT l Ct-; 01" SALE .. r <a·:Nt-:IU\L OIU.ll:ATlON 1<1-: .. 'UNUING WA'ff:K KONDS, St:RIES 19/~ lN 'l'llE AMOUNT o~· $ of thr ~~~~ CITY OF t;NGLEWOOD, ARAPAHOE COUNTY, COLORADO SELLING: MONDAY, MARCH 3, 1975, 11:00 A.H., M.D.S.T. The Director of Finance of the City of Englewood, Colo- rado will receive sealed bids at the office of the Director of Finance, City of Englewood, Municipal Building, 3400 South Elati, Englewood, Colorado 80110 until 11:00 A.M. (M.D.S.T.) on Monday, March 3, 1975, for the purchase of General Obli- gation Refunding Water Bonds, Series 1975, of the City, dated ... ... . April l, 1975, in the principal amount of $ ______ ~ The bonds shall be in the denomination of $5,000 each; • shall bear interest payable on October l, 1975 ard semi- ~~ annually thereafter on the 1st day of April and the 1st day "-· of Oc t ober each year; shall bear interest and shall mature serially on October 1 as follows: ' Amount .... ,..,.. .. Maturity 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 Interest Rate Bonds of this issue maturing on or after October 1, 1983 shall be redeemable at the option of the City, in inverse nu- • merical order, on October l, 1982 and on any inte¥est payment ~ date thereafter, upon payment of par, accrued interest and a premium o f 11. of principal. These bonds are being issued for the purpose of refund- ing t h e Cit y' 8 $2, 7~0, 0'•0 out8t:1tnoin~ Genttral ObliRation lle- f 11n •l i n1: ~1.1 :e r Bond s , Series 1965, dated September l, 1965, and $1 ,; /';. 0 ;~0 o utstanding General Obli~ation Water Improvement. 8 0n ,1 •• S t::-..c s ~9 7 1 . daterl April l, 1971, pursuant to the Charter of th e C i ~· 4 Prlnrfpal Rnrl i n t ercR t will bP pnyable at the First • ~ Nu l l 0 11 .1 I H11 nk l •f E11>•. I c•wucul, E11r, l 11 woc-ul, Colc:>rndo. Thc•n n ~ • ~· '--- bnn dt :, i n t h e o p i nion o f hond c oun se l, are legal and binding ob ligation s o f t h e City of F.ng l ewood, payable from general ad val orcm t a xes on all taxable property in the City without limi t ation as to rate or amount, and from the net revenues of th e wat e r system of the City. A cashier's check or certified check drawn on a bank or trust company, payable to the City of Englewood, Colorado in the amount of $60,000 must accompany each bid. The check of the successful bidder will be retained by the City as liqui-. ..~ ..• dated damages in the event the bonds are not taken up and pa i d for in accordance with the bid . bidders will be returned immediately. Checks of unsuccessful ' The interest rates on these bonds will be fixed by the City fi ve days prior to the sale. The bonds will be awarded on the basis of the bid designating the highest amount of premium above par. No "B" coupons shall be allowed, nor shal l d i sc ount bids be considered . CUSIP numhers will be provided for these bonds at the request and expen~e of the successful bidder. The City will not be responsible for errors in such numbers. Th e bonds will be awarded to the bidder naming the lowest ...... n et in t erest cost to the City, based on the full par amount of $ ----as advertised. The net interest cost is de- • fin e d to be the total amount of interest to accrue from the ~ d ate of issue to the date of maturity, without regard to prior re dem pt i on provisions, less the total amount of cash premium bi d . The premium must be paid in cash as a part of the pur- c h ose price . re p rinted bonds, a certified transcript of legal pro- Ji.ni ·~. a nd the a pproving opinion of Messrs. Tallmadge, :~ 11 ·"l~ i--~·. Wall rtcl! & Hahn, Attorneys at Law, Denver, Colorado, . l i. b urnishc d at n o e x pe nse to the purchaser of said bonds . ' Th~ City rc~crvP :. the rip.ht to waive any defect or ir- '9.-regularity in any bid, and the right to reject any and all bids for the purchase of said bonds; ~ • \\,.. ~ • ~ Additional information concerning the City and this is- sue can be obtained from Mr. Karl Nollenberger, Director of Finance, Municipal Building, 3400 South Elati Street, Engle- wood. Colorado 80110, or from Hanifan, Imhoff & Samford, Inc., 1624 Tremont Place, Denver, Colorado 80202, the financial consultant to the City. 1975 . BY ORDER OF THE CITY COUNCIL thia 18th clay of February, . .. ....... /s/ Karl Nollenberger Director of Finance Englewood, Colorado 6 • ~ • \.. • Sect ion 3. Thnt t he City and Hanifen, Imhoff & Samford, I n c . 111.ay g ivf• s uch mlJl1 lo11al nnd furt·her notice of sale o f said refunding bonds as they may deem necessary and proper. RESOLUTION ADOPTED AND APPROVED This 18th day of Febru- ary, 1975. ( S E A L ) ATTEST: ... Director of Finance ex-officio City Clerk ..... Mayor • 7