HomeMy WebLinkAbout1971 Resolution No. 008··~4
RESOLUTION NO. 8, SBRIES OF 1971
A RESOLUTION AU'ftlORIZillG A NOTICB OF SALB OP CITY OP ENGLEWOOD, COLORADO,
GBllBRAL OBLIGATION WATBR IMPROVBMBHT BONDS, SBRIBS 1971, IN THB AMOUNT
OP $2,200.000: SAID SALB TO BB HBLD ON TUBSDAY, MARCH 9'ftl, 1971.
WHEREAS, the City of Bnglewood, Arapahoe County, Colorado, now
owna, operated and maintain• a ayatem of waterworka for the purpoae of
aupplying aaid City and it• inhabitant• with water for fire and domeatic
purpo•e•: and
WBBRBAS, it i• neceaaary to extend and improve said waterworks
ayatem in order to aupply the said City and the inhabitants thereof with
a proper and adequate aupply of water: and
WHEREAS, there are not sufficient fund• in the treasury of said
City to provide for the neceaaary extenaiona and improvements to said
waterworka ayatem and the City Council deem• it adviaable and neceaaary
to iaaue neqotiable bonds of aaid City in the amount of $2,200,000 for
that purpoae: and
WBBRBAS, it i• necessary to give published notice of sale of
aaid bond•:
BB IT RESOLVBD BY 'ftlE CITY COUNCIL OF 'ftlB CITY OF ENGLEWOOD,
COLORADO:
Section 1. That Notice of Sale of City of Englewood, eolorado,
General Obligation Water Improvement Bonda, Series 1971, be published
once in the Englewood Herald and Bnterprise, the official newspaper of
th• City, to be in aubatantially the following form:
NOTICB OF BOND SALE
CITX OP BBGLBWOOD, ARAPAHOE COUNTY, COLORADO
GBllBRAL OBLIGATIOR WATER IMPROVEMENT BOROS, SERIES 1971
$2,200,000
The City of Bnglewood, Arapahoe County, Colorado, will receive
sealed bids at the office of the City Manager, City Rall, 3400 South
Blati Street, Englewood, Colorado 80110, up to 10:00 o'clock A.M.,
Mountain Standard Time, on Tuesday, the 9th day of March, 1971, for the
purchaae of $2,200,000 General Obligation Water Improvement Bonds, Serie•
1971, dated April 1, 1971 •.
said bonds •hall be in the denomination of $5,000 each, numbered
1 to 440, incluaive.
Intereat shall be payable on April 1, 1972, and semi-annually
thereafter on the lat day of April and the lat day of October each year,
and ahall mature on April 1, as follow•:
Amount
$ 95,000
105,000
110,000
115,000
120,000
130,000
135,000
145,000
150,000
160,000
170,000
175,000
185,000
195,000
210,000
Maturity
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
Bonds maturing in 1972 and thereafter shall be redeemable at the
option of the City, in inverae numerical order, on April 1, 1982, and on
intereat payment date• thereafter upon payment of par .~ accrued interest and
a premium of 1% of principal.
Principal of and intereat on aaid bonds shall be payable at the
Firat National Bank of Bnglewood, Englewood, Colorado, and an optional
paying agent at a national bank or trust company in New York City or Chicago,
Illinois, to be designated by the bidder, aubject to approval by the City
Manager.
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Th.-bonc1• wil I hP ri e l 1v('r c d al t h e Fir•t National Bank of En9le-
wood, 9'n q lewuod, Co lorado, o r e laewhe re at the requeal and expenae 01 tne
purc ha•e r .
Bidder• ahall deaignate the rate or rate• of intereat, not
exceeding 6% per annum, to be evidenced by one aet of coupons only, on
which the i r bid• are baaed. Interest ratea must be atated in multiples
of t wen tie th• or eiqhtha of one percent and no more than one intereat
rate •hall be bid for Lhe bond• maturing in a aingle year. The maximum
allowable d i fference between the hi9heat and loweat intere•t rate •pecif ied
in any bid •hall be 1-1/2~. and the maximum number of rate• bid shall be
five.
The bond• ahall not be aold at leaa than par and accrued intereat
to the date of delivery, aubject to the right of the City Council to reject
any and all bida, or to waive any irregularity. The bond• will be awarded
to the bidder namin9 the lowe•t net intereat coat to the City.
For information purpose• only, the bidders are requested to state
in their bid• (a) the total net intere•t co•t in dollar• and cents which is
defined aa the total amount of intereat to accrue from date of issue to date
of .. turity, without regard to prior redemption proviaiona, lea• the amount
of premiua bid, if any, and (b) the net effective intereat rate in a stated
per centuaa.
Printed bonds, a certified tranacript of legal proceeding• and the
approv i ng opinion of Tallmadge arid Tallmadge, Attorneys, of Denver, Colorado,
wh i ch will be printed on the bonda, will be furniahed at the City's expense.
A caahier'• check or Certified Check drawn on a bank or truat com-
pany, payable to the City of En9lewood, Colorado, in the amount of $35,000 .00
muat acc011pany each bid. Th• check of the aucceaaful bidder will be retained
by the City aa liquidated damage• in the event the bonda are not taken up
and pa i d fo r after the bond• are made ready and tendered by the City for
delivery.. Checks of unaucceaaful bidder• will be returned immediately.
Addi t i o nal informa t i o n r o nre rnin9 the City and thia i••ue can be
obtained from Mr. Stephen A. Lyon, Director of Finance, Englewood City Hall,
)IJOO South Blati Street, En9lewood, Colorado, or from Cou9hlin and Company,
Inc., Firat National Bank Building, Denver, Colorado 80202.
BY ORDBR OF THE CITY COUNCIL This lat day of February, 1971.
l•f St_m>h•n A. Lyon
DIRECTOR OF FINANCE
Section 2. That the Council may 9ive auch other and further notice
of thia bond aale a• it may deem adviaable.
RESOLUTION ADOPTED AND APPROVED Thia lat day of February, 1971.
( S E A L )
ATTBST1
OF Pil!IAllCB, BX~
CITY CLERK AND TREASURER
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