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Home My WebLink About1970 Resolution No. 009I I I RESOLUTION NO. 9, SERIES OF 1970 WHEREAS, by Ordinance No. 8, Series of 1970, finally passed and adopted on the 16th day of March, 1970, the City Council has created Paving District No. 19, in theCity of Englewood, for the purpose of constructing and installing certain street and alley improvements within the City: and WHEREAS, the City Council has determined that it is necessary to provide for the issuance of bonds of the City for said District to pay for the cost of said improvements, the principal of and interest on the bonds to be payable from special assessments levied against the property within the District and specially benefited by the improvements to be constructed and installed: and WHEREAS, it is also necessary to provide for the advertisement for construction bids for the construction and installation of said street and alley improvements: THEREFORE, BB IT RBSOLVBD BY THE CI~ COUNCIL OP THE CITY OF ENGLEWOOD, COLORADO: 1. That Notice of Sale of bonds of the City for Paving District No. 19, in the principal amount of $372,000 shall be given by publication in three consecutive weekly issues of The Englewood Herald, in the editions dated April 9, 16 and 23, 1970. 2. The form of the Notice of Sale shall be substantially as follows: NOTICE OF BOND SALE CITY OF ENGLEWOOD, COLORADO PAVING DISTRICT NO. 19 SALE DATE -APRIL 30, 1970 NOTICE IS HEREBY GIVEN, That the City of Englewood, Colorado, will receive sealed bids at the office of the City Clerk, at the City Hall in Englewood, Colorado, until 2:00 o'clock P.M., M.D.T., on Thursday, April 30, 1970, for the purchase of $372,000 City of Englewood, Colorado, Paving District No. 19 Special Assessment Bonds to be dated June 1, 1970, and due June 1, 1981, subject to prior redemption in direct numberical order on any interest payment date upon thirty (30) days published notice, upon payment of par and accrued interest. The award of the contract will be made by the City Council at 8:00 o'clock P.M., May 4, 1970, or at an adjournment of the regular Council meeting of that date. Interest on said bonds shall be payable on June 1, 1971, and semi- annually thereafter on June 1 and December 1, each year, to be evidenced by one or more sets of interest coupons. For the purpose of comparison only, bids shall be submitted on the following estimated dates of payment which are strictly an estimate based on past experience and are in no way guaranteed: Amount $130,000 55,000 49, 000 37,000 29, 000 $ 25,000 25,000 22,000 Estimated Date of Payment 12-1-1971 12-1-1972 12-1-1973 12-1-1974 12-1-1975 12-1-1976 12-1-1977 12-1-1978 The principal of and interest on said bonds shall be payable at the First National Bank in Englewood, in Englewood, Colorado. annum and delivery. estimated estimated The bonds will bear interest at a rate or rates not exceeding 10% per will be sold at not less than par and accrued interest to date of Different or separate "A" and "B" coupon rates may be bid for each date of payment, but bids based on split coupon rates for any one payment date, will not be acceptable. Sub ject to the right of the City of Englewood to reject any and all bids received, said bonds will be awarded on the bid representing the lowest net interest cost to the City based upon the estimated dates of payment as set forth above. Said bonds will be payable from assessments to be levied against the property within the District specially benefited by the construction of the improvements. The Charter of said City provides: "Whenever a public improvement district has paid and cancelled four-fifths of its bonds outstanding and for any reason the remaining assessments are not paid in time to take up the final bonds of the district and interest due thereon and there is not sufficient money in said special surplus and deficiency fund, then the City shall pay said bonds when due and interest due thereon and reimburse itself by collecting the unpaid assessments due said District." 2:J;~ 234 /\11 hidR mm.;t h<' un,..ondi tiontll and shall be accompanied by a cashier's or corLJ f 1t..•t.1 du.:l:k J11 lilt' .1111u1111I 111 :;.10,000, t•nynJiJ., In lhn rity nf RnrJlewood. CheekM of unaucct1 ttqf11l hidrlortt wi 11 be promptly returned. The good faith deposit will ho r•1~,-.rfi lir->d fn fhP IJllFf"•hill JPr f1f " th(' llmO dollvory C)f ·t:'ho bondtt 18 mad@ ftnd I 1111• li W't'1S tirl f11I lilddr-11 nlinll rnll "' 11n•1lo .. 1 ... o111111plofo lliP p11rr-hnAP o f Raid hondo 111 nc•c•t11dn11 <..:~ wlll1 hltt hl.d, tho 1tmrnmt of hJtt dopou,i.L HhitJl bf1 ll t dd by I 1101•1 I y ,, n I i q11 I dn t nd dnmnq"". •rt.,. <.:Jl y ot l~11qLC'wuud IN~C'tVt'~ Lhti prJvll~•Jo 01 w11lvln<1 11ny Jrr11qulnrity uc l nloam.dit y i11 .my hid. Delivery will be made at the office of theDirector of Finance, in Englewood, Colorado, or elsewhere at the request and expense of the purchaser. Additional information concerning this issue and the District may be obtained from Mr. Stephen A. Lyon, Director of Finance, City Hall, in Engle- wood, Colorado. The City of Englewood will furnish the printed bonds, a certified L l 'daa:•~ • 1 l pl n f I'",., 1 19rnr•n.,..-f i nq n ;inn thP !lpprovinq opinion of Messrs, Willson nnd J4anun, At torncys at Law, De nv er , Colorac.Jo. A cer Lit lud eu!Jy u r nll:i <..1 nppravJ.n',} pinion wl 11 tw prlraf('d 111>011 t•11eh b o nd wi t hou t i'\ddit;ional cost. DA'rt·:O Jl t·:nqlt•wood, <.:uloa ·,,<.10, nti or Lho 0111 dny .. r /\pt 11, 1·•·1n. ( S 1-: A I. ) I\ 'M' P.n'r I Publish in: The Englewood Herald Publish on: AJ:->r l l 1J, lf, ._met 21, 1'>70. J . 'l'h f' Noli t'•! tu <.:o nl1'11:lo1:-1 rua 111 01...:u11tiL111ul11111 n11o1 l11Plnllnl l11H f st r.f'C'l anti t:J11oy lm)Jt (JVfJ ltl~ll l t:t ,,.)1i1l l nl l'tO h~ pnh l i sheq in throo consecutive woof· ''\ i aanoa ,, f •rh o fi:fltJ 1 owr tf)(l ,,,... r!l 1 fl. o n t h e Rame dates as the Not.ice of boftd !ictJoW lll l1 n p11ldlbl1 c ol, no l11•ll .:nl c •l c:a J .... •c . 4. 'l'h<· form of t'hf' No t i cc to Contractors shall b@ §Ufl§ l:.anlially iilii Lollow:J : N<l'I' f('J·: ·ro f'ONTRACTORS 1•11111.1r· Nn'l'l•'E 1:: 111·:1u-:1w nrvr~N. •rhnt unti 1 Friday t he J={reH: day of Mny, 1•1 /u , ,,1 11,., ''"'" .. r :.1111 t'.M. '" 111 0 t•c 1•c:a 1l111 0 1a1 .. r 1 1 •111 ~••·•0 , 111 1r.11ulPwnn11, 'olvtAl1tJ , fll -=t C ll~f w ill ft:H:t;jivu lildt> for thu L!Olltitruetion (It tit1 ·m.~t nlld nVt:11lUB l1111•1n,1nmn11f q 111 l'nvl11q Ul tt l r lr•f Nn. l'J, In FHl'l<'1 Clty. H11id imprnvo111011tu Hh.tJJ eonHjHL ui tilrut1 L and tiJl e y pnvJnq, u 111L, u tt~r . and sidewalk a nd n e~essar y lncidenlal~ afid apvu rl@ nfinO ~§ in §aid Ul ti l I,,.,, .111 :'I ll "'"' n '"' l y n nl fn1-1 h in thr> TJi J 1 for an Ordinance creating said District. Rjds will be opened and tabulated at the above mentioned date and time and the award ot Lhu e o11Lr.u:L wj 11 bu mud o by tho City Council at their meeting lo b o h o ld ~t 8:00 P.M. on t he 4th day of May, 1970, or at an adjournment thereof. Thr qcncral description of the improvements and a description of the District can be obtained from the City Engineer, Englewood, Colorado. Detailed plans and specifications will be available to prospective bidders at the City Enqineer's office on April 20, 1970. A charge of $10.00 (not refundable) will be made tor e...ae lt ucL of Pl.m:: .incl F.pc-C"i fi r;ttj ons. The City Council reserves the right to reject any and all bids and Lo waive informaljtics thrrrin. IN WITNESS WHEREOF, said City of Englewood, Colora<D, has caused this Notice to be given this 6th day of April, 1970. City Manager Director of Finance ADOPTED AND APPROVED This 6th day of April&~k~ -' Mayor ( S E A L) ATTEST: I I