Loading...
HomeMy WebLinkAbout1984-10-16 (Special) Meeting Agenda• • • • • 0 City Council Meetinq -Special Oc t o ber 16, 1984 • • • • • • ~~~ ~ ""~--10. -f(, 1J., 4~ ~ :1/J:fo, -"f1, 1g I 49 • 0 0 , I . . • • - !D ·-!&~-ff r5 · ~0 if Y\ \ AGEN DA ITEM ----PRESENTED BY ------ ("" (;L-flv l CL . L {f1 tl <-- 0 A--tuL 1~ <-~Jd ct~r j ) j__,) cs'1h I . l .J-.../ J ( ROLL CALL Moved Seconded Ayes Nay Absent Abstain Hiq<lay Neal Vobe1da Weist Bilo Bradshaw Otis MOTION : I . . • • • • • AGENDA I TEM -----PRESENTED BY-------- ROLL CALL Moved Seconded Ayes Nay Absent Abstain HIQday v- Neal v-- Vobeida v Weist v Bi lo ,_ Bradshaw v Ot is , ____ MOTION : I • • • • • n • • .. • AG ENDA ITEM ~ PRESENTED BY -------- ROLL CALL Moved Seconded Ayes Nay Absent Abstain Hlgday Neal Vo be ]da Weist J.L_ Bi lo y Bradshaw Otis MOTION : I • • • • AG ENDA ITEM ~~~"! o-o t~c ('~ ~ A!J-to !(1(1 wvU . J .f-~ J (./'v - ROLL CALL Moved Seconded lgday Neal Vobe,da Wei s t Bilo Bradshaw Ot i s MOTION: • • - P RE SENTED BY eLL<-( Ayt:s Nay Absent Abstain I I I I . • • - • ORDINANCE NO . /j_jp SERIES OF 1984 • • • BY AUTHORITY COUNCIL BILL NO . ~ INTRO~~~ BY COUNCILMEMBER AN EMERGENCY ORDINANCE AMENDING ORDINANCE NO. 36, SERIES OF 1984 WHICH AUTHORIZED THE ISSUANCE AND SALE OF $9,500,000 CITY OF ENGLEWOOD, COLORADO, INDUSTRIAL DEVELOPMENT REVENUE BONDS (KING SOOPERS PLAZA PROJECT) SERIES 1984, TO FINANCE PROPERTY SUITABLE FOR USE FOR COMMERCIAL OR BUSINESS ENTERPRISES; RATIFYING CERTAIN ACTIONS HERETOFORE TAKEN; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A FINANCING AGREEMENT, INDENTURE OF TRUST, BOND PURCHASE AGREEMENT, INDUCEMENT LETTER, FINAL OFFICIAL STATEMENT , SAID BONDS AND CLOSING DOCUMENTS IN CONNECTION THEREWITH ; REPEALING ACTION HERETOFORE TAKEN IN CONFLICT HEREWITH; AND DE- CLARING AN EMERGENCY . WHEREAS, the City of Englewood, Colorado (the "Issuer") is a legally and regularly created, established municipal corporation duly organized and existing as a home-rule city pursuant to Ar ticle XX of the Constituti on of the Stat e of Colorado; and WHEREAS , the provi sion s o f t he County a n d Mun i c i pa li ty De velopment Revenue Bo n d Act, constituting Article 3, Title 29, Colorado Revised Statutes (the "Act"), authorize munici- palities to finance, refinance, acquire, own, lease, improve and dispose of one or more projects, including any land, building or other i mprovement and all real or personal properties suitable or used for or in connection with com- mercia! or business enterprises (including, without • I • - • • • • limitation, enterprises engaged in sel l ing any products of agricul t ure , industry , commerce, manufactu r ing or business), upon such conditions as the municipality may deem advisable; and WHEREAS, such municipalities are further authorized by the Act to issue revenue bonds for the purpose of defraying the cost of financing any such project; and WHEREAS, on August 29 , 1984 the Issuer adopted Ordinance No. 36, Series of 1984 which among other matters authorized the issuance and sale of $9,500,000 City of Englewood, Colorado, Industrial Development Revenue Bonds (King Soopers Plaza Project) Series 1984 (the "Bonds"); and WHEREAS , Englewood Redevelopers, Ltd., a Colorado limited partnership, organized and existing under the l aws of the State of Colorado (the "Partnership") and Boettcher & Company , Inc . (the "Underwr i ter") have requested the Issuer to amend Ordi nanc e No . 36 , Series of 1 98 4 to p r o v ide t h at t he aggr egate p ri nc i pa l amount o f Bo n ds issued and sa i d by the Issuer b e amended from $9,500 ,000 to $8,920,00 0; a n d WHEREAS , the Issuer's Horne Rule Charter provides that: Emergency ordinances n e cessary for the imm e diate preservation of public prope r ty , health, peace or safety may be introduc e d, read and unanimously approved by a quorum present , at any meeting of the Council. The facts showing such urgency and need shall be specifically stated in the ordinance. No o rdina nce shall receive final pass age on the same date it is introduced; however, eme r g ency ordinances ma y receive final passage by Council on the following da y. Emergency ordi nances shall take effect i mm ediately upon final passage and shall b e published within seven days -2- • ' ,. I • • - • • • • thereof. No ordinance making a grant of any special privilege, levying taxes, incurring indebtedness, authorizing borrowing money or fixing rates charged by any city owned utility shall ever be passed as an emergency measure.; and WHEREAS, the Issuer has been informed by the Part- nership and the Underwriter that circumstances, as described herein, warrant that this Ordinance be declared to be an emergency ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO THAT: Section 1. All action (not inconsistent with the provisions of this Ordinance) heretofore taken by the City Council and the efforts of the Issuer directed toward financing the Project (as defined in Ordinance No. 36, Series 1984), the issuance and sale of the Bonds therefor, and loaning the proceeds thereof to the Partnership therefor be, and the same hereby are, ratified, approved and confirmed. Section 2. The aggregate principal amount of the Bonds to be issued and sold is hereby declared to be $8,920,000. Any reference to the figure $9,500,000 in Ordinance No. 36, Series 1984 is hereby declared to be amended to read $8 ,920,000 . Section 3 . The Issuer has been advised by the Partnership and the Underwriter that the amendment described in Section 2 above is necessary for the issuing of the Bonds and the completion of the Project . The Partnership has -3- • I • - • • represented to the Issuer that the Project cannot proceed until such amendment is made and that delays in the comple- tion of the Project may have an adverse effect on the Issuer's Urban Renewal Plan and the redevelopment of the Issuer's Urban Renewal Area . Any such impact upon the redevelopment of the Urban Renewal Area may impair the security for the obligations pr~viously issued by the Englewood Urban Renewal Authority and may also impact upon the credit rating of the Issuer . Having been so advised, the Issuer hereby finds , determines and declares that this Ordinance is necessary for the immediate preservation of public property, health , peace or safety and shall take effect immediately upon final passage and shall be published within seven days of final passage hereof . Section 4 . After any of the Bonds are issued, this Ordinance shall be and remain i rrepealable until the Bonds and interest thereon shall have been fully pa i d, cancelled and discharged . Sect i on 5 . I f a n y sec tion , paragraph , clause o r provi s ion of t h is Ord inance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforce- ability of such section, paragraph , clause or provision shall not affect any of the remaining provisions of this Ordina nce. -4- • • I ,. I . - ' • • • • Section 6. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith and with the documents hereby approved, are hereby repealed to the extent only of such inconsistency. This repealer shall n ot be construed as reviving any bylaw , order , resolution or ordinance , or part thereof . Section 7. Immediately upon its final passage, this Ordinance shall be recorded in the Issuer's book of ordinances kept for that purpose, shall be authenticated by the signatures of the Mayor and the Ex-Officio City Clerk/Treasurer, and shall be published within seven days hereof in the Englewood Sentinel, a legal newspaper of general circulation in the City. Introduced, read in full, and passed on f i rst reading the 15th day of October, 1984. Published as a Bill for an Ordinance on the 17th day of October, 1984. Read by t itle and passed on final reading as an emer gency ordinance on the 16th day of October, 1984 . Published by title as Ordinance No. on the 17th day of October, 1984. , Series of 1984, Attest: Eugene L. Ot1s , Mayor ex offic1o C1ty Clerk-Treasurer I, Gary R. Higbee, ex officio City Clerk-Treasurer of the City of Englewood, Colorado, hereby certify that the above and foregoing is a true, accurate, and complete copy of the Ordinance passed on final reading and published by title as Ordinance No. , Series of 1984. Gary R. H1gbee -5- • I • • • • • ,. • NOTICE OF CALL BY TH E MAYOR FOR A SPECIAL MEETING OF TH E CITY COUN CIL OF TH E ENGLEWOOD CITY COUNC IL TUE SD AY, OCTOBER 16, 1984 5:3 0 P.M. The City Council of the City of En g lewood, Arapahoe County, Col o rad o , is called to a special meeting at City Hall, 34 00 South Elati Street, for the purpose of taking action by motion, or other appropriate means, as follows: l. t.o To consider an Ordinance on final read i n g amendin g Ordinance No. 36, Se rie s of 19 84 , which authorize d the issuance and sale o f $9,5 00 ,000 City of Englewood, Colorado, Industrial Deve lop- ment Revenue Bonds (King Soopers Plaza Project) Series of 1984, to finance property suitable for us e for commercial or business enterprises; ratifying certain actions heretofore tsken; author- izing the execution and delive ry by the City of a financing agreement, indenture of trust, bond purchase agreement, induce- me nt letter, final official statement, said bonds and closing documents in conn ection therewith; repealing action heretofore tak i n g in conflict herewith; and d eclaring an emergency. (Copies enclosed.) Adjournment. 1 ~· . ;f, f);~- L utx /1'/Lt/k"' ANQ1 MC CO WN City Manager ACKNOWLEDGEMENT OF RECEIPT OF NOTICE The following persons, all Co un cil Me mb ers of the City of Englewood , do hereby acknowledge receipt of notice of the above special call 24 hour s prior to the special meeting in a ccordance to Section 1-4-2 o f the 1969 Englewood Mun ici pa l Code, a s amended. • I • • • • • • NOTICE OF CALL BY THE MAYOR FOR A SPECI AL MEETING OF THE CITY COU NCIL OF THE ENGLEWOOD CITY COUNCIL TUESDAY, OCTOBER 16, 1984 5:30 P.M. The City Council of the City of Englewood, Arapahoe County, Co l o rado , is called to a special meeting at City Hal l , 3400 South Elati Stree t, fo r the purpose of taking action by motion, or othe r appropriate means, ns follows: Call to order, invocation, pledge of allegi ance and roll call. l . To consider an Ordinance on final reading amending Ordinance No. 36, Series of 1984, which authorized the issuance and s ale of $9,500,000 City of Englewood, Colorado, Industrial Develop- ment Revenue Bonds (King Soopers Plaza Project) Series of 1984, to finance property suitable for use for commercial or business enterprises; ratifying certain actions heretofore taken; author- izing the execution and delivery by the City o f a financin g agreement, indenture of trust, bond purchase agreement, induce- ment letter, final official statement, said bonds and closing documents in connection there with; repealing action h e r e to fo r e taking in conflict herewith; and declaring an emergency. (Copi e s e nclosed.) 2. Adjournment. / J#t/lc A MC COWN City Manager ACKNOWLEDGEMENT OF RECEIPT OF NOTICE The following persons, all Council Members of the City of Englewood, do hereby acknowledge receipt of notice of the above special call 24 hours prior to the special meeting in acco r dance to Section 1-4-2 of the 1969 Englew d Municipal Code, as amended. • I • • • ORDINANCE NO . SERIES OF 1984 • • • BY AUTHORITY COUNCIL BILL NO. ~ INTRODUCED BY COUNCILMEMBER AN EMERGENCY ORDINANCE AMENDING ORDINANCE NO. 36 , SERIES OF 1984 WHICH AUTHORIZED THE ISSUANCE AND SALE OF $9,500,000 CITY OF ENGLEWOOD, COLORADO, INDUSTRIAL DEVELOPMENT REVENUE BONDS (KING SOOPERS PLAZA PROJECT) SERIES 1984, TO FINANCE PROPERTY SUITABLE FOR USE FOR COMMERCIAL OR BUSINESS ENTERPRISES; RATIFYING CERTAIN ACTIONS HERETOFORE TAKEN ; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A FINANCING AGREEMENT, INDENTURE OF TRUST, BOND PURCHASE AGREEMENT, INDUCEMENT LETTER , FINAL OFFICIAL STATEMENT, SAID BONDS AND CLOSING DOCUMENTS IN CONNECTION THEREWITH; REPEALING ACTION HERETOFORE TAKEN IN CONFLICT HEREW ITH; AND DE- CLARING AN EMERGENCY . WHEREAS , the City of Englewood, Colorado (the "Issuer") is a legally and regularly created , established munic i pal corporation duly organized and existing as a hom e-ru le city pursuant to Arti cle XX of the Constitution of the State of Colorado; and WHEREAS, the provisions of the County and Municipality Development Revenue Bond Act, constituting Article 3, Title 29, Colorado Revised Statutes (the "Act"), authorize munici- palities to finance, refinance, acquire, own , lease, improve and dispose of one or more projects, including any land, building or other improvement and all real or personal properties suitable or used for or in connection with com- mercia! or business enterprises (including , without I , I • • • • • • f limitation, enterprises engaged in selling any products of agriculture, industry , commerce, manufacturing or business}, upon such conditions as the municipality may deem advisable; and WHEREAS , such municipalities are further authorized by the Act to issue revenue bonds for the purpose of defraying the cost of financing any such project; and WHEREAS, on August 29, 1984 the Issuer adopted Ordinance No . 36, Series of 1984 which among other matters authorized the issuance and sale of $9 ,500,000 City of Englewood, Colorado, Industrial Development Revenue Bonds (King Soopers Plaza Project) Series 1984 (the "Bonds"}; and WHEREAS, Englewood Redevelopers, Ltd., a Colorado limited partnership, organized and existing under the laws of the State of Colorado (the "Partnership") and Boettcher & Company, Inc. (the "Underwriter") have requested the Issuer to amend Ordinan c e No. 36, Series of 1984 to provide that the aggregate p rincipal amount of Bonds issued and said by the Issuer be amended from $9,500,000 to $8,920,000; and WHEREAS, the Issuer's Home Rule Charter provides that: Emergency ordinances necessary for the immediate preservation of public property , health, peace or safety may be introduced , read and unanimously approved by a quorum present , at any meeting of the Council . The facts showing such urgency and need shall be spec i fically stated in the ordinance. No ordinance shall receive final passage on the same date it is introduced ; however, emergency ordinances may receive final passage by Council on the following day. Emergency ordinances shall take effect immediately upon final passage and shall be published within seven days -2- • ' ~· I • • - • • • • • thereof . No ordinance making a grant of any spec i al privileg e, l e v y i ng taxes, i ncurr i ng indebtedness, authorizing borrowing money or fixing rates charged by any city owned utility shall ever be passed as an emergency measure.; and WHEREAS, the Issuer has been informed by the Part- nership and the Underwriter that circumstances , as described herein, warrant that this Ordinance be declared to be an emergency ordinance . NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD , COLORADO THAT : Section 1 . Al l action (not inconsistent wi th the prov isions of t h i s Ord i nance) heretofore taken by the C ity Council and the effort s of the Issuer d i rec ted t oward financing the Pro j ect (as defined in Ord i nance No . 36, Series 1984), the issuance and sale of the Bonds therefor, and loaning the proceeds thereof to the Partne r ship the r efor be , and the same hereby are , rat ifi ed , a pp roved a n d conf i rmed . Section 2. The aggrega t e principal amount of the Bonds to b e issued and s old is hereby declared to be $8,920,000 . Any reference to the figure $9,500,000 in Ordinance No. 36, Series 1984 is hereby declared to be amended to read $8,920,000. Section 3. The Issuer has been advised by the Partnership and the Underwriter that the amendment described in Section 2 above is necessary for the issuing of the Bonds and the completion of the Project . The Partnership has -3- I • • • • • l represented to the Issuer that the Project cannot proceed until such amendment is made and that delays in the comple- tion of the Project may have an adverse effect on the I ssuer's Urban Renewal Plan and the redevelopment of the Issuer's Urban Renewal Area . Any such impact upon the redevelopment of the Urban Renewal Area may impair the security for the obligations pr~viously issued by the Englewood Urban Renewal Authority and may also impact upon the credit rating of the Issuer. Having been so advised, the Issuer hereby finds, determines and declares that this Ordinance is necessary for the immediate preservation of public property, health, peace or safety and shall take effect immediately upon final passage and shall be published wi thin seven days of final passage hereof. • Section 4. After any of the Bonds are issued, this Ordinance shall be and remain irrepealable until the Bonds and interest thereon shall have been fully paid, c ancelled and discharged. Section 5. If any section, paragraph, clause or provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforce- ability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Ordinance. -4- I . ( • • • Section 6 . All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith and with the documents hereby approved, are hereby repealed to the extent only of such inconsistency. This repealer shall not be construed as reviving any bylaw, order, resolution or ordinance, or part thereof. Section 7. Immediately upon its final passage, this Ordinance shall be recorded in the Issuer's book of ordinances kept for that purpose, shall be authenticated by the signatures of the Mayor and the Ex-Officio City Clerk/Treasurer, and shall be published within seven days hereof in the Englewood Sentinel, a legal newspaper of general circulation in the City. Introduced, read in full, and passed on first read ing the 15th day of October, 1984. Published a s a Bill for an Ordinanc e on the 17th day of October, 1984. Read by title and passed on final reading as an emergency ordinance on the 16th day of Octo ber, 1984. Published by title as Ordinance No . on the 17th day of October , 1984. , Series of 1984, Attest: Eugene L. Ot1s, Mayor ex offic1o C1ty Clerk-Treasurer I, Gary R . Higbee, ex officio City Clerk-Treasurer of the City of Englewood, Colorado, hereby certify that the above and foregoing is a true, accurate, and complete copy of the Ordinance passed on final reading and published by title as Ordinance No. ____ , Series of 1984. Gary R. H1gbee -5- I • • ( ORDINANCE NO . SERIES OF 1984 • • • BY AUTHORITY COUNCIL BILL NO. ~ INTRODUCED BY COUNCILMEMBER AN EMERGENCY ORDINANCE AMENDING ORDINANCE NO. 36, SERIES OF 1984 WHICH AUTHORIZED THE ISSUANCE AND SALE OF $9,500,000 CITY OF ENGLEWOOD, COLORADO, INDUSTRIAL DEVELOPMENT REVENUE BONDS (KING SOOPERS PLAZA PROJECT) SERIES 1984 , TO FINANCE PROPERTY SUITABLE FOR USE FOR COMMERCIAL OR BUSINESS ENTERPRISES ; RATIFYING CERTAIN ACTIONS HERETOFORE TAKEN ; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A FINANCING AGREEMENT, INDENTURE OF TRUST, BOND PURCHASE AGREEMENT , INDUCEMENT LETTER, FINAL OFFICIAL STATEMENT, SAID BONDS AND CLOSING DOCUMENTS IN CONNECTION THEREWITH; REPEALING ACTION HERETOFORE TAKEN IN CONFLICT HEREW I TH ; AND DE- CLARING AN EMERGENCY . WHEREAS, the City of Englewood , Colorado (the "Issuer") is a legally and regularly created, established municipal corporati on du l y organi zed and existing as a h ome-rule c i ty pursuant to Ar t i c l e XX of the Const i t u tion o f the State o f Col orado; a n d WHE REAS, t he provision s of the Co u nty a nd Munici pa lity Development Re venue Bond Act, constituting Articl e 3, Title 29, Colorado Revised Statutes (the "Act"), authorize munici- palities to finance , refinance , acquire, own, lease , improve and dispose of one or more projects, including any land, building or other improvement and all real or personal properties suitable or used for or in connection with com- mercial or business enterprises (including, without I I I • • • • - limitation , enterprises engaged in selling any products of agri culture, industry, commerce, manufacturing or business), upon such conditions as the municipality may deem advisable; and WHEREAS , su c h municipalities are further authorized by the Act to issue reve nu e bonds for the purpose of defraying the cost of financing any such project; and WHEREAS, o n Augu st 29, 1984 the Issuer adopted Ordinance No. 36, Series of 1984 which among other matters authori zed the issuance and sale of $9 ,500,000 City of Engl ewood, Colorado , Industrial Development Revenue Bonds (King Soopers Plaza Project) Series 1984 (the "Bonds"); and WHEREAS , Eng l ewood Redevelopers, Ltd., a Colorado limited partnershi p, organized and existing under the laws of the State of Colorado (the "Partnership") and Boettcher & Company, Inc. (the "Underwriter") have requested the Issuer to amend Ordinance No . 36, Series of 1984 to provi de that the aggregate principal amount of Bonds issued and said by the Issuer be amended from $9,500 ,000 to $8,920,000; and WHEREAS, the Issuer's Home Rule Charter provides that: Emergency ordinances necessary for the immediate preservation of public property, health, peace or safety may be introduced, read and unanimously approved by a quorum present, at any meeting of the Council. The facts showing such urgency and need shall be specifically stated in the ordinance. No ordinance shall rec e ive final passage on the same date it is introduced; however, emergency ordinances may receive final passage by Council on the following day . Emergency ordinances shall take e ffect immed iately upon final passage and shall be published within seven days -2- • ' , I • • • • • • thereof . No ordinance making a grant of any special privilege, levying taxes, incurring indebtedness, authorizing borrowing money or fixing rates charged by any city owned utility shall ever be passed as an emergency measure.; and WHEREAS, the Issuer has been informed by the Part- nership and the Underwriter that circumstances, as described herein, warrant that this Ordinance be declared to be an emergency ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO THAT : Section 1. All action (not inconsistent with the provisions of this Ordinance) heretofore taken by the City Council and the efforts of the Issuer directed toward financing the Project (as defined in Ordinance No. 36 , Series 1984), the issuance and sale of the Bonds therefor, and loaning the proceeds thereof to the Partnership therefor be, and the same hereby are , ratified, approved and confirmed. Section 2. The aggregate principal amount of the Bonds to be issued and sold is hereby declared to be $8,920 ,000 . Any reference to the figure $9,500,000 in Ordinance No. 36, Series 1984 is hereby declared to be amended to read $8 ,920,000. Section 3 . The Issuer has been advised by the Partnership and the Underwriter that the amendment described in Section 2 above is necessary for the issuing of the Bonds and the completion of the Project. The Partnership has -3- t I I • • • - • • represented to the Issuer that the Project cannot proceed until such amendment is made and that delays in the comple- tion of the Project may have an adverse effect on the I ssuer's Urban Renewal Plan and the redevelopment of the I ssuer's Urban Renewal Area. Any such impact upon the redevelopment of the Urban Renewal Area may impair the security for the obligations pr~viously issued by the Englewood Urban Renewal Authority and may also impact upon the credit rating of the Issuer. Having been so advised, the Issuer hereby finds, determines and declares that this Ordinance is necessary for the immediate preservation of public property, health, peace or safety and shall take effect immediately upon final passage and shall be published within seven days of final passage hereof . Section 4 . After any of the Bonds are issued , this Ordinance shall be and remain i rrepealable until the Bonds and i nterest thereon shall hav e been ful l y paid , c ancelled and discharged . Section 5 . If any section , para grap h, clause or provision of this Ordina nc e sha ll for any reason be held to be invalid or unenforceable, the invalidity or unenforce - ab1lity of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Ordinance. I • • : -4-I • - • • • • • Section 6. All bylaws, orders, resolutions and ordinances, or parts thereof , inconsistent herewith and with the documents hereby approved, are hereby repealed to the extent only of such inconsistency . This repealer shall n ot be construed as rev iving any bylaw, order, resolution or ordinance , or part thereof . Section 7. Immediately upon its final passage, this Ordinance sha ll be rec orded in the Issuer's book of ordinances kept for that purpose, shall be authenticated by the signatures of the Mayor and the Ex-Officio City C l erk/Treasurer, and shall be published within seven days hereof in the Englewood Sentinel , a legal newspaper of general circulation in the City. Introduced, read in full, and passed on first read ing the 15th day of October, 1984. Published as a Bill for an Ordinanc e on the 17th day of October , 1984. Read by title and passed on final read ing as an emergency ordinance on the 16th day of October, 1984. Published by title as Ordinance No. on the 17th day of October , 198 4. , Series of 1984, Attest: Eugene L. Ot1s, Mayor ex offic10 C1ty Clerk-Treasurer I , Gary R . Higbee, ex officio City Clerk-Treasurer of the City of Englewood, Colorado, hereby certify that the above and foregoing is a true, accurate, and complete copy of the Ordinance passed on final reading and published by title as Ordinance No. , Series of 1984. Gary R . Higbee -5- I • • • • • • BY AUTHORITY ORDINANCE NO . COUNCIL BILL NO. 51 SERIES OF 1 984 INTRODUCED BY COUNCILMEMBER AN EMERGENC Y ORDINANC E AMENDING ORDINANCE NO. 36 , SERIES OF 1984 WHICH AUTHORIZED THE ISSUANCE AND SALE OF $9 ,500,000 CITY OF ENGLEWOOD, COLORADO, INDUSTRIAL DEVEL OPMENT REVENUE BONDS (KING SOOPERS PLAZA PROJECT) SERIES 1984, TO FINANCE PROPERTY SUITABLE FOR USE FOR COMMERCIAL OR BUSINESS ENTERPRISES; RATIFYING CERTAIN ACTIONS HERETOFORE TAKEN; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A FINANCING AGREEMENT, INDENTURE OF TRUST , BOND PURCHASE AGREEMENT, INDUCEMENT LETTER , FINAL OFFICIAL STATEMENT , SAID BONDS AND CL OSING DOCUMENTS IN CONNECTION THEREWITH; REPEALING ACTION HERETOFORE TAKEN IN CONFLICT HEREWITH ; AND DE- CLARING AN EMERGENCY. WHEREAS, the City of Englewood, Colorado (the "Issuer") is a legally and regularly created , establ ished municipal corporation duly organized and existing as a home-rule city pursuant to Article XX of the Constitution of the State of Colorado ; and WHEREAS, the provisions of the County and Municipality Development Revenue Bond Act, constituting Article 3, Title 29, Colorado Revised Statutes (the "Act"), authorize munici- palities to finance , refinance , acquire, own, lease, improve and dispose of one or more projects, including any land, building or other improvement and all real or personal properties suitable or used for or in connection with com- merclal or business enterprises (including, without I • • n • • • I limitation, enterprises engaged in selling any products of • agriculture, industry , commerce, manufacturing or business), upon such conditions as the municipality may deem advisable ; and WHEREAS, such municipalities are further authorized by the Act to issue revenue bonds for the purpose of defraying the cost of financing any such pro j ect ; and WHEREAS, on August 29 , 1984 the Issuer adopted Ordinance No . 36 , Series of 1984 which among other matters authorized the issuance and sale of $9 ,500 ,000 City of Englewood, Colorado, I ndustrial Development Revenue Bonds (King Soopers Plaza Project) Series 1984 (the "Bonds"}; and WHEREAS, Englewood Redeveloper s, Ltd., a Colorado limited partnership, organized and existing under the laws of the State of Colorado (the "Partnershlp") and Boettcher&. Company, I nc . (the "Underwriter") have requested the I ssuer to amend Ordinance No . 36, Series of 1984 to provide that the aggregate principal amount of Bonds issued and said by the Issuer be amended from $9,500,000 to $8,920 ,000; and WHEREAS , the Issuer's Home Rule Charter provides that: Emergency ordinances necessary for the i mmediate preservation of public property , health, peac e or safety may be introduced , read and unanimously approved by a quorum present , at any meeting of the Council. The facts showing such urgency and need shall be spec i fically stated in the ordinance . No ordinance shall receive final passage on the same date it is introduced; however, emergency ordinances may receive final passage by Council on the following day . Emergency ordinances shall take effect immediately upon flnal passage and shall be published within seven days -2- • I • - • • • • thereof . No ordinance making a grant of any special privilege, levying taxes, incurring indebtedness, authorizing borrowing money or fixing rates charged by any city owned utility shall ever be passed as an emergency measure.; and WHEREAS, the Issuer has been informed by the Part- nership and ~he Underwriter that circumstances , as described herein, warrant that this Ordinance be declared to be an emergency ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO THAT: Section 1 . All action (not inconsistent with the provisions of this Ordinance) heretofore taken by the City Council and the efforts of the Issuer directed toward financing the Project (as defined in Ordinance No. 36, Series 1984), the issuance and sale of the Bonds therefor, and loaning the proceeds thereof to the Partnership therefor be, and the same hereby are, ratified, approved and confi rmed. Section 2. The aggregate principal amount of the Bonds to be issued and sold is hereby declared to be $8,920,000. Any reference to the figure $9,500,000 in Ordinance No. 36, Series 1984 is hereby declared to be amended to read $8 ,920,000. Section 3. The Issuer has been advised by the Partnership and the Underwriter that the amendment described i n Section 2 above is necessary for the issuing of the Bonds and the c omplet i on of the Project . The Partnership has -3- I • • ....... • .. represented to the Issuer that the Pro j ect cannot proceed until such amendment is made and that delays in the comple- tion of the Project may have an adverse effect on the Issu er 's Urban Renewal Plan and the redevelopment of the Issuer's Urban Renewal Area. Any such impact upon the redev elopment of the Urban Renewal Area may impair the s ecurity for the obligations pr~viously issued by the Englewood Urban Renewal Authority and may also impact upon the credit rating of the Issuer . Having been so advised , the Issuer hereby finds, determines and declares that this Ordinance is necessary for the immediate preservation of public property, health , peace or safety and shall take ( effect immediately upon final passage and shall be published within seven days of final passage hereof. Section 4. After any of the Bonds are issued , this Ordinanc e shall be and r emain irrepealable until the Bonds and interest thereon shall have been fully paid, c ancelled and discharged . Section 5. If any section, paragraph , clause or provision of this Ordinanc e shall for any reason be held to be invalid or unenforceable, the invalidity or unenforce - abllity of such section , paragraph, clause or provision shall not affect any of the remaining provisions of this Ordinance. ( -4- • . , I • • ( ( • • • - Section 6. All bylaws , orders, resolutions and ordinances, or parts thereof , inconsistent herewith and with the documents hereby approved , are hereby repealed to the extent only of such inconsistency. This repealer shall not be construed as revi vi ng any bylaw, order , resolution or ordinance, or part thereof . Section 7. Immediately upon its final passage , this Ordinance shall be recorded in the Issuer's book of ordinances kept for that purpose, shall be authenticated by the signatures of the Mayor and the Ex-Officio City C l erk/Treasurer, and shall be published within seven days hereof in the Englewood Sentinel , a legal newspaper of general circulation in the City. Introduced, read in full, and passed on first read ing the 15th day o f Octo ber, 1984. Published a s a Bill for an Ordinance on the 17th day of October , 1984. Read by title and passed on final reading as an emergency ordinance on the 16th day of October, 1984. Published by title as Ordinance No. on the 17th day of October , 1984. , Series of 1984, Attest: Eugene L. Ot~s , Mayor ex off~c~o city Clerk-Treasurer I, Gary R. Higbee, ex officio City Clerk-Treasurer of th City of Englewood, Colorado, hereby certify that the above and foregoing is a true, accurate, and complete copy of the Ordinance passed on final reading and published by title as Ordinance No . , Series of 1984. Gary R. H1.gbe -5- • I • • • • • • BY AUTHORITY ORD I NANCE NO . COUNCIL BILL NO . 51 SE RI ES OF 1984 INTROD UCED BY COUNCILMEMBER AN EMERGENCY ORDINANCE AMENDING ORDINANCE NO . 36 , SERIES OF 1984 WHICH AUTHORIZED THE ISSUANCE AND SALE OF $9,500,000 CITY OF ENGLEWOOD , COLORADO , INDUSTRIAL DEVELOPMENT RE VENUE BONDS (KING SOOPERS PLAZA PROJECT} SERIES 1984 , TO FINANCE PROPERTY SUITABLE FOR USE FOR COMMERCIAL OR BUSINESS ENTERPRISES; RATIFYING CERTAIN ACTIONS HERETOFORE TAKEN; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A FINANCING AGREEMENT , INDENTURE OF TRUST, BOND PURCHASE AGREEMENT , INDUCEMENT LETTER, FINAL OFFICIAL STATEMENT , SAID BONDS AND CL OSING DOCUMENTS IN CONNECTION THEREWITH ; REPEALING ACTION HERETOFORE TAKEN IN CONFLICT HEREW ITH; AND DE- CLARING AN EMERGENCY . WHEREAS , the City of Englewood , Co l orado (the "I ssuer"} is a legally and regularly created, established municipal corporati on duly organi zed and ex i sting as a home-ru l e c i ty pu rsuant to Artic l e XX of the Const i tut i on of the State of Col orado; and WHEREAS , the p r o vi s i on s of t h e Coun ty and Mu n ici pa lity Deve lopme nt Re venue Bond Act, constituting Article 3, Title 29, Colorado Revised Statutes (the "Act"}, authorize munici - palities to finance, refinance, acquire, own, lease, improve and dispose of one or more proJects, including any land, bu1lding or other improvement and all re a l or personal properties suitable or used for or in connection with com- merc1al or business enterprises (including, without • I • • ( • • • limitation, enterprises engaged in selling any products of agr i culture, industry , commerce , manufacturing or business), u pon such c onditions as the municipality may deem advisable ; and WHEREAS, such municipalities are further authorized by the Act to issue revenue bonds for the purpose of defraying the cost of financing any such project; and WHEREAS, on August 29, 1984 the Issuer adopted Ordinance No. 36, Series of 1984 which among other matters authorized the issuance and sale of $9 ,500,000 City of Englewood, Colorado, Industri al Development Revenue Bonds (King Soopers Plaza Project) Series 1984 (the "Bonds"); and WHEREAS , Englewood Redevelopers, Ltd., a Colorado limited partnershi p , organized and existing under the laws of the State of Colorado (the "Partnersh1p") and Boettcher & Company , Inc . (the "Underwriter") have requested the Issuer to a mend Ord1nanc e No. 36, Series of 1984 to provi de that the a ggreg ate principal amount of Bonds issued and said by the Issuer be amended from $9 ,500 ,000 to $8 ,920,000; and WHEREAS, the Issuer's Home Rule Charter provides that: Emergency ordinances necessary for the imm ediate preservation of publ1c property, health, peace or safety may be introduced, read and unanimously approved by a quorum present , at any meeting of the Counc1l. The facts showing such urgency and need shall be specifically stated 1n the ordinanc e. No ord1nance shall receive final passage on the same date 1t is introduced; however, emergency ordinances may receive final passage by Counc11 on the follow ing day . Emergency ord1nances shall take effect immed1ately upon f1nal passage and shall be published with1n seven days -2- I • • - 1 ( • • • • thereof. No ord1nance mak1ng a grant of any special privilege, levying taxes, incurr1ng 1ndebtedness, author izing borrow1ng money or f1x1ng rate s charged by any city owned ut1 1ty shall ever be passed as an emergenc y measure .; and WHEREAS , the Issuer has been informed by the Part- nership and ~he Underwr1t er that circumstances , as described herein, warrant that this Ordinance be declared to be an emergency ordinance. NOW, THEREFORE , BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO THAT: Section 1. All action (not inconsistent with the provisions of this Ordinance) heretofore taken by the City Council and the efforts of the Issuer directed toward financing the Project (as defined in Ordinance No. 36, Series 1984), the issuance and sale of the Bonds therefor, and loaning the proceeds thereof to the Partnership therefor be, and the same hereby are, ratified, approved and confirmed. Section 2. The aggregate principal amount of the Bonds to be issued and sold is hereby declared to be $8,920,000 . Any reference to the figure $9,500,000 in Ordinance No . 36, Series 1984 is hereby declared to be amended to read $8 ,920,000. Section 3. The Issuer has been advised by the Partnership and the Underwriter that the amendment described 1n Section 2 above is necessary for the issuing of the Bonds and the completion of the Project . The Partnership has -3- • I • ( • • • • ( r epresented to t he Issuer that the Pro j ect cannot proceed u ntil such amendment is made and that delays in the comp l e- tion of the Project may have an adverse effect on the Is suer's Urban Renewal Plan and the redevelopment of the I ssuer's Urban Renewal Area. Any such impact upon the redevelopment of the Urban Renewal Area may impair the sec u rity for the obligations previously i ssu ed by the Englewood Urban Renewal Authority and may also impact upon the credit rating of the Issuer . Havi ng been so advised , t h e I ssuer hereby f i nds, determi nes and declares that this Ord i nance i s necessary for the i mmediate preservati on of p u b li c property, health , peace or safety and shall take effect immediately upon final passage and shall be published wi t h i n seven days of final passage hereo f . Section 4 . After any of the Bonds are issued , this Ord i nance shall be and remain i rrepealable until the Bonds and i nterest thereon shall have been fully pa i d , c ancelled and di scharged. Sec tion 5 . I f a ny se ction , p a r agr aph , c l a u se or provision of this Ord ina nce sha ll for any re a son b e h e ld to be inval1d or unenforceable, the 1nval1dity or unenforce- ab llity of such sectlon , paragraph , clause or provision shal not affect any of the rema1n1ng prov1sions of this Ord1n ance. -4- • I • • I { • • • • Section 6. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herew i th and with the documents hereby approved, are hereby repealed to the extent only of such inconsistency. This repealer shal l not be construed as reviving any bylaw, order, resolution or ordinance, or part thereof. Section 7. Immediately upon its final passage , thi s Ordin ance shall be recorded in the Issuer's book of ordinances kept for that purpose, shall be authenticated by the signatures of the Mayor and the Ex-Officio City Clerk/Treasurer, and shall be published within seven days hereof in the Englewood Sentinel, a l egal newspaper of general circulation i n the Ci ty . Introduced, read in full, and passed on first r eading the 15th day of October, 1984. Published a s a Bill for an Ordinance on the 17th day of October, 1984 . Read by title and passed on final reading as an emergency ordinance on the 16th day of October , 1984. Published by title as Ordinance No. on the 17th day of October , 1984. , Series of 1984, Attest: Eugene L . Ot1s , Mayor ex offic1o C1ty Clerk-Treasurer I, Gary R. Higbee, ex officio City Clerk-Treasurer of the City of Englewood, Colorado, hereby certify that the above and foregoing is a true, accurate, and complete copy of the Ordinanc passed on final r ading and published by title as Ordinance o. , Series of 1984. Gary R. H1.gbe e -5- I • • I ( • ORDINAN CE NO. SERIES OF 1984 • • - BY AUTHORITY COUNCIL BILL NO. ~ INTRODUCED BY COUNCILMEMBER AN EMERGENCY ORDINANCE AMENDING ORDINANCE NO. 36, SERIES OF 1984 WHICH AUTHORIZED THE ISSUANCE AND SALE OF $9,500,000 CITY OF ENGLEWOOD, COLORADO, INDUSTRIAL DEVELOPMENT REVENUE BONDS (KING SOOPERS PLAZA PROJECT) SERIES 1984, TO FINANCE PROPERTY SUITABLE FOR USE FOR COMMERCIAL OR BUSINESS ENTERPRISES; RATIFYING CERTAIN ACTIONS HERETOFORE TAKEN; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A FINANCING AGREEMENT, INDENTURE OF TRUST, BOND PURCHASE AGREEMENT , INDUCEMENT LETTER, FINAL OFFICIAL STATEMENT , SAID BONDS AND CLOSING DOCUMENTS IN CONNECTION THEREWITH; REPEALING ACTION HERETOFORE TAKEN IN CON FLICT HEREW I TH ; AND DE- CLARING AN EMERGENCY . WHEREAS , the City of Englewood, Colorado (the "Issuer") is a legally and regularly created, established municipal corporation du ly organ~zed and existing as a home-rule city pursuant to Artic l e XX of the Constitution of the State of Colorado; and WHEREAS, the provisions of the County and Municipality Development Revenue Bond Act, constituting Article 3, Title 29, Colorado Rev~sed Statutes (the "Act"), authorize munici- palities to finance, refinance, acquire, own, lease, im prove and dispose of one or more projects, including any land, building or other improvement and all real or personal properties su itable or used for or in connection with com - mercial or business enterprises (including, without I • • • - ( limitation, enterprises engaged in selling any products of ( ( • agriculture, industry, commerce, manufacturing or business), u pon such conditions as the municipality may deem advisable ; and WHEREAS , such municipalities are further authorized by the Act to issue revenue bonds for the purpose of defraying the cost of financing any such project ; and WHEREAS, on August 29, 1984 the Issuer adopted Ordinance No. 36, Series of 1984 which among other matters authorized the issuance and sale of $9,500,000 City of Englewood, Colorado, Industrial Development Revenue Bonds (King Soopers Plaza Project) Series 1984 (the "Bonds"); and WHEREAS, Englewood Redevelopers, Ltd., a Colorado limited partnersh1p, organized and existing under the laws of the State of Colorado (the "Partnersh1p") and Boettcher & Company , Inc . (the "U nderwriter") have requested the Issuer to amend Ordinanc e No . 36, Seri es of 1984 to provide that the aggregate principal amount of Bonds issued and sa1d by the Issuer be ame nded from $9,500,000 to $8 ,920,000; and WHEREAS , the Issuer's Home Rule Charter provides that: Emergency ordinances n ecessary for the immediate preservat1on of publ1c property, health, peace or safety may be 1ntrcduced, read and unanimously approved by a quorum present, at any meeting of the Counc1l. The facts show1ng such urgency and need shall be specifically stated 1n the ordinance. No ordinance shall rece1ve f1nal passage on the same date 1t is 1ntroduced; however, emergency ordinances may receive final passage by Counc1l on the following day . Emergency ord1nances shall take effect immediately upon f1nal passage and shall be publ1shed within seven days -2- I • • - ( ( • ( • • • • thereof . No ordinance making a grant of any special privilege, levying taxes, incurring indebtedness, authorizing borrowing money or fix i ng rates charged by any city owned utility shall ever be passed as an emergency measure .; and WHEREAS, the Issuer has been informed by the Part- n ership and ~he Underwriter that circumstances, as described herein , warrant that this Ordinance be declared to be an e mergen cy ord i na nc e . NOW, THEREF ORE , BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO THAT: Section 1 . Al l action (not incons i stent with the provisions of this Ordinance) heretofore taken by the City Council and the efforts of the Issuer directed toward f i nancing the Project (as defined in Ordinance No . 36, Series 1984), the issuance and sale of the Bonds therefor , a n d loaning the proceeds thereof to the Partnership therefo r b e , and the same h ereby are , ratif i ed, approved and con f i rmed . Se ction 2. The a g gregate pri n ci pa l am o unt o f the Bonds to b e ~ssued a n d s old i s h e r eb y de cl a r ed to b e $8,920,000. Any refe r e nc e to the f igure $9,500,000 in Ordi nance No . 36, Se ri e s 1984 is h e reby declare d to be amended to read $8,920,000. Sect~on 3. The Issuer has been advised by the Partnership and the Underwriter that the amendme nt described ~n Section 2 above is necessary for the issuing of the Bonds and the complet~on of the Project. The Partnership has -3- I • • • • • ( represented to the Issuer that the Project cannot proceed until such amendment is made and that delays in the comple- tion of the Project may have an adverse effect on the I ssuer's Urban Renewal Plan and the redevelopment of the Issuer's Urban Renewal Area. Any such impact upon the redevelopment of the Urban Renewal Area may impair the security for the obligations previously issued by the Englewood Urban Renewal Authority and may also impact upon the credit rating of the Issuer. Having been so advised, the Issuer hereby finds, determines and declares that this Ordinance is necessary for the immediate preservation of pub li c property, health, peace or safety and shall take ( • effect i mmediately upon final passage and shall be published within seven days of final passage hereo f. Section 4 . After any of the Bonds are issued , this Ordinance shall be and remain irrepealable until the Bonds and interest thereon shall have been fully paid , cancelled and discharged. Section 5. If any section, paragraph , clause or prov~s~on of th~s Ordinance shall for a n y reason be held to be ~nval~d or unenforceable, the inval~dity or u nenforce - ab~l~ty of such sect~on, paragraph, clause or provision shall not affect any of the remaining provisions of this Ord~nance. -4- I • • ( ( ( • • • • Section 6. Al l bylaws , orders , resolut i ons and ord in a nc es , or parts thereof, inconsistent herewith and with the documents hereby approved , are hereby repealed to the ext ent only of such inconsistency. This repealer shall not be construed as revi v ing any bylaw, order , resolution or ordinance, or part thereof . Secti on 7 . Immediatel y upon its fina l passage , thi s Ordi nance shall be recorded in the Issuer's book of ordinances kept for that purpose, shall be authenticated by the signatures of the Mayor and the Ex-Off i cio Ci ty Cl erk(Treasurer, and shall be published within seven days hereof in the Englewood Sentinel , a legal newspape r of genera l circulation in the Ci ty. Introduced, read in full, and passed on first read ing the 15th day of October , 19 84. Published as a Bill for an Ordinance on the 17th day of October, 1984 . Read by title and passed on final reading as an emergency ordinance on the 16th day of October, 1984. Published by title as Ordinance No . on the 17th day of October, 1984. , Series of 1984, Attest: Eugene L. Ot1s, Mayor ex off1c1o C1ty Clerk-Treasurer I, Gary R. Higbee, ex officio City Clerk-Treasurer of the City of Englewood , Colorado, hereby certify that the above and foregoing is a true, accurate, and complete copy of the Ordinance passed on final reading and published by title as Ordinance No . ____ , Series of 1984. Gary R. Higbee -5- I • • ( • • - BY AUTHORITY ORDINAN CE NO . SER I ES OF 1 984 COUNCIL BILL NO . ~ INTRODUCED BY COUNCILMEMBER AN EMERGENCY ORDINANCE AMENDING ORDINANCE NO . 36 , SERIES OF 1984 WHICH AUTHORIZED THE ISSUANCE AND SALE OF $9 ,500 ,000 CI TY OF ENGLEWOOD , COLORADO , INDUSTRIAL DEVEL OPMENT RE VENUE BONDS (KI NG SOOPERS PLAZA PROJECT) SERIES 1984 , TO FINANCE PROPERTY SUITABLE FOR USE FOR COMMERCIAL OR BUSI NESS ENTERPRISES ; RATIFYING CERTAIN ACTIONS HERETOFORE TAKEN; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A FINANCING AGREEMENT, INDENTURE OF TRUST , BOND PURCHASE AGREEMENT , INDUCEMENT LETTER , FINAL OFF I CIAL ST AT EMENT , SAID BONDS AND CL OSING DOCUMENTS I N CONNECT ION THEREWITH; REPEALING ACTION HERETOF ORE TAKEN I N CONFLICT HEREWITH ; AND DE- CLARING AN EMERGENCY . WH ERE AS , t h e Ci t y o f Engl ewoo d , Colorado (the "I ssuer") is a l e g a lly and r e gul a rl y c reated , estab li shed mun icipa l corpo r at i on du l y organ i zed and exi s ting as a home-rul e c i t y pursuant to Ar t i c l e XX o f t h e Consti tuti on of the State of Colorado; a nd WHEREAS, the provi s ions of the County a nd Munici pa lity Development Revenue Bond Act, constituting Article 3, Title 29 , Colorado Rev1sed Statutes (the "Act"), authorize mun1ci- palities to finance, refinance, acquire, own, lease, improve and dispose of one or more projects, including any land, build1ng or other improvement and all real or personal properties suitable or used for or in connection with com- merc1al or business enterprises (including, without • I ' I • • - ( ( • • • - limitat i on , enterprises engaged in selling any products of agriculture, industry , commerce, manufacturing or business), u p o n such conditions as the munic i pality may deem advisable ; and WHEREAS , such municipalities are further authoriz e d by the Act to issue revenue bonds for the purpose of defraying the cost of f1nancing any su ch pro j ect ; and WHEREAS, on August 29, 1984 the Issuer adopted Ordinance No. 36 , Series of 1984 which among other matters a uthorized the issuance and sale of $9 ,500,000 City of Englewood, Colorado , Industrial De velopment Revenue Bonds (K1 ng Soopers Plaza Pro j ect) Series 1984 (the "Bonds"); and WHEREAS , Englewood Redevelopers, Ltd ., a Colorado limited partnership , organized and existing under the laws of the State of Colorado (the "Partnership") and Boettcher & Company, Inc . (the "Underwriter") have r e quested the Issuer to amend Ordinance No . 36, Series of 1984 to provide that the aggregate p rinci pal amount of Bonds issued and said by the Issuer be amended from $9,500,000 to $8 ,920,000; and WHEREAS, the Issuer's Home Rule Charter prov~des that : Emergency ordinances necessary for the 1mmed1ate preservat~on of publ1c property, health, peace or safety may be 1ntroduced, read and un an1mously approved by a quorum present , at any meet~ng of he Counc1l. The facts show1ng such urge n cy and need shall be specifically stated 1n the ordinance . No ord~nance shall rece1ve final passage on the same date 1t is ~ntroduced; however, emergency ord1nances may receive f1nal passage by Counc~l on the follow~ng day . Emergency ord1nances shall take e ffect 1mmed1ately upon flnal passage and shall be publlshed with1n seven days -2- • I • • , ( ( • • • • thereof . No ordinance making a grant of any special privilege, levying taxes, incurring indebtedness, authorizing borrowing money or fixing rates charged by any city owned utility shall ever be passed as an emergency measure.; and WHEREAS, the Issuer has been informed by the Part- nership and ~he Underwriter that circumstances, as described herein, warrant that this Ordinance be declared to be an emergency ordinance . NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO THAT: Section 1. Al l action (not inconsistent with the provisions of this Ordinance) heretofore taken by the City Council and the efforts of the Issuer directed toward financing the Project (as defined in Ordinance No. 36, Series 1984), the issu ance and sale of the Bonds therefor, and loaning the proceeds thereof to the Partnership therefor be , and the same hereby are, ratified, approved and con firmed . Section 2 . The aggregate principa l am ount of the Bonds to be issued and sold i s hereby declared to be $8,920,000. Any reference to the figure $9,500,000 in Ordinance No. 36, S er i es 1984 is hereby declared to be amended to read $8,920,000. Sect~on 3. The Issuer has been advised by the Partnershi p and the Underwr~t er that the amendment described ~n Section 2 above is necessary for the issu~ng of the Bonds and the complet~on of the Project . The Partnersh~p has -3- • I • • • • . . • ( rep r esented to the Issuer that the Project cannot proceed un til such amendment is made and that delays in the comple- tion of the Pro j ect may have an adverse effect on the I ssuer's Urban Renewal Plan and the redevelopment of the I ssuer's Urban Renewa l Area. Any such impact upon the redevelopment of the Urban Renewal Area may impair the securi ty f or the ob llgations previously issued by the Englewood Urban Renewa l Authority and may also impact upon the credit rating of the Issuer. Having been so advised , t h e Issuer hereby finds, determines and declares that this Ordinance i s necessary for the immediate preservat1on of p u b li c pro perty , health, peace or safety and shall take ( ( • effect i mmediately upon final passage and shall be published wi thi n sev en days of final passage hereof. Secti on 4 . After any of the Bonds are issued , this Ord i nance shall be and remain irrepealable until the Bonds and i nterest thereon shall have been fully paid , cancelled and d1 scharged . Section 5 . If any sect ion , paragraph , cl ause or prov 1s1 o n of th1s Ordina n ce s hall f or any reason b e h e ld t o be 1nval1d or unenforceable, the inva l1 d 1 ty o r unenforc e - ab:llty o f s uch sect1 o n , paragrap h , clause or prov1sion shall not affe c t a n y of the r emaining p rov1s1 ons of this Ord1 n a nc e . -4- • I ( • • • • Section 6. All bylaws , orders, resolutions and ordinances, or parts thereof, inconsistent herewith and with the documents hereby approved , are hereby repealed to the extent only of such inconsistency. This repealer shall not be construed as reviving any bylaw, order, resolution or ordinance, or part thereof . Section 7. Immediately upon its final passage , this Ordinance shall be recorded in the Issuer's book of ordinances kept for that purpose, shall be authent1cated by the signatures of the Mayor and the Ex-Officio City Clerk/Treasurer , and shall be published within seven days hereof in the Englewood Sent1nel, a l egal newspaper of general circulation in the C1ty . Introduced, read 1n ul l , a d pa 15th day of October, 1 4. d on f1rst reading the Published as a Bill or a Ord1nanc on h 17th day of Octo ber, 1984. Read by title and ass d on f1nal reading as an emergency ordinance on the 16th day of Oc o r, 1984 . Published by titl a s Ord1nance o. on the 17th day of Oc ober, 1984. , Series of 1984, Attest: Eugene L. Ot1s , Mayor ex offic1o City Clerk-Treasurer I, Gary R. Higbee, ex officio City Clerk-Treasurer of the City of Englewood, Colorado, hereby certify that the above and foregoing is a true, accurate, and complete copy of the Ordinance passed on final reading and published by title as Ordinance No. , Series of 1984. Gary R. Higbee -5- • I •