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Home My WebLink About1982-06-28 (Special) Meeting Agenda• • - 0 City Council Meeting -Special --June 28, 1982 -. ..::.-.. . -__ -------=-"'r -• r, - • CITY COUNCIL MEETING June 28, 1982 • • • RESOLtn'I #~_,4'.f, 32, 33, 34 ORDINANCE#_'~, 29, 30, 31 , 32 0 • I • • • SPECIAL MEETING: • • - COUNCIL CHAMBERS City of Englewood, Colorado June 28, 1982 I~ The City Council of the City of Englewood, Arapahoe County, Colorado, met in special session on June 28, 1982, at 7:30 p.m. Mayor Otis, presiding, called the meeting to order. The invocation was given by Council Member Thomas Fitzpatrick. The pledge of allegiance was led by Mayor Eugene Otis. Mayor Otis asked for roll call. Upon a call of the roll, the following were present: Council Members Neal, F i tzpatrick, Weist, Bilo, Bradshaw, Otis. Absent: Council Member Higday. The Mayor declared the a quorum present. • • Also present were: * * • • * * City Manager Mccown Assistant City Manager Vargas City Attorney DeWitt Director of Public Works Waggone r Director of Engineering Services Diede Director of Utilities Fonda Assistant Director of Community Development-Planning Romans Deputy City Clerk Watkins * * * * COUNCIL MEMBER FITZPATRICK MOVED TO OPEN THE PUBLIC HEAR - ING TO CONSIDER THE ORDINANCE TO AMEND THE CO MPR EHENSIVE ZONING OR- DINANCE OF THE CITY OF ENGLEWOOD, COLORADO, BY PROVIDING FOR THE PERMITTING OF CERTAIN AMUSEMENT OR ENTERTAI NM ENT BUSINESSES AS CON- DITIONAL USES WITHIN THE CO MM ERCIAL B-1 AND 8-2 ZONES. Council Member Bradshaw seconded the motion. Upon a call of the roll, the vote resulted aa follows: • I • • • • • - June 28, 1982 Page 2 Ayes: Nays: Absent: Coun c il Members Neal, Fitzpatrick, Weist, Bilo, Bradshaw, Otis. None. Council Member Higday. The Mayor declared the motion carried. Assistant Director of Community Development -Planning, Do r o thy Romans, appeared before Council and provided information co n ce rning the proposed amendment to· the Comprehensive Zoning Or - di nan c e that would provide for the permitting of certain amusement o r e ntertainment businesses as conditional uses within Commercial B-1 a nd 8-2 zones. Ms. Romans stated the recommendation of the P l ann i ng and Zoning Commission is to amend Section 22.4-10 hand 22 .4 -11 h wh i ch would make amusement establishments or commercia l enterta i nmen t e s tabl i shments conditional use s and required to f oll ow c ertai n procedures. There wer e n o quest i ons fr o m Council at t his t i me. Mayor Otis then asked f or c omment s from the aud i en c e. Rick Forbes, dete c t i ve of the Englewood Pol ic e Departmen t , appeared before Counc il a nd spoke i n favor of the amendment. De - te c tive Forbes read a letter from Englewood Pol ic e Di v i sion Chie f Sta nl ey to Ms. Romans in f avor of c ontro lli ng the establishment s a nd recommended the owner s of these centers com e under some t ype of st r i ngent background i nvestiga ti on proc edure pr ior t o the l ice n s e to o perate being issued. Dete c t i v e Fo rbe s s tated the reason be i n g is to c ontrol these pla c e s f rom be c om i ng t h e cente r s o f c r i mi n al acti v it y. Mr. Forbe s told of t wo a r ca d e i nv esti g atio n s i n wh ich he is currentl y involved having to do with criminal charges on the owners. Mr . Fo rbes stated he would like to see the o wner apply for a l ic ense similar to the process of a liquor license applicant whereby an investigation of the applicant would uncover any c riminal background that would be sub j ect to license approval or denial. Frances Schaffer, Englewood Business Association, appeared be fo re Council in support of reviewing the o wners of amusement cen - t er s prior to being allo wed to operate in the City. th is m iss ue s dur ea . City Attorney DeWitt stated the issue befor Council at eting was the zoning amendment. Mr. De Witt stated th raised by Detectiv Forbes had to do with licensing proce - Mr. De Witt offered to write an ordinance dealing with the • I • • June 28, 1982 Page 3 • • • l icen si ng procedures for Council's consideration by the firs t of August. There were no other speakers at this time. COUNCIL MEMBER NEAL MOVED TO CLOSE THE PUBLIC HEARING. Council Member Fitzpatrick seconded the motion. Upon a call of the roll, the vote resulted as follows: Ayes: Nays: Absent: Council Members Neal, Fitzpatrick, Weist, Bilo, Bradshaw, Otis. None. Council Member Higday. The Mayor declared the motion carried. ORD I NANCE NO. 28 SERIES OF 1982 BY AUTHORITY COUNCIL BILL NO. 35 I NTRODUCED BY COUN CIL MEMBER BRADSHAW AN ORDINANCE TO AMEND THE COMPREHENSIVE ZONING ORDINANCE OF THE CITY OF ENGLEWOOD, COLORADO, BY PROVIDING FOR THE PERMITTING OF CERTA I N AMUSEMENT OR ENTERTAINMENT BUSINES S ES AS CONDIT I ONAL US ES WITH I N THE COMMERCIAL B-1 AND B-2 ZONES AND DECLARING AN EMER - GENCY. COUNCIL MEMBER BRAD S HAW MOVED TO PA SS COUNCIL BILL NO. 35 , SERIES OF 1 98 2 , ON FINAL READING . Counc il Memb e r Ne al s e cond e d t h e mot i o n. CO UN CIL MEMB ER BILO MOVED TO AM END THE EMERGE NCY CLAUSE BY I NSERTING •MA Y• BET WEEN •THEY• AND •HAVE • IN T HE SECO ND LI NE AND BY STRIKING •CHILDREN STAYING OUT LATE AT NIGHT, NOT GOING TO CLASS• AND INSERTING •cuRFEW VIOLATIONS, TRUANCY· IN THE THIRD LINE. Coun - c il Member Fitzpatrick seconded the motion. Upon a call of the roll, the vote on the amendment resulted as follo ws: Ayes: Nays: Absent: Council Members Neal, Fitzpatrick, Weist, Bilo, Bradshaw, Otis. None. Council Member Higday. Th Mayor declar d th motion carri d • • I • • - June 28, 1982 Page 4 • • • Upon a call of the roll, the vote on the original motion resulted as follows: Ayes: Nays: Absent: Council Members Neal, Fitzpatrick, Weist, Bilo, Bradshaw, Otis. None. Council Member Higday. The Mayor declared the motion carried. * * * * * * * COUNCIL MEMBER BRADSHAW MOVED TO BRING FORWARD AGENDA ITEM 2(C) -AN INDUCEMENT RESOLUTION FOR ISSUANCE OF INDUSTRIAL DEVELOP- MENT REVENUE BONDS FOR A PROJECT FOR MRS. NANCY M. MAGILL. Council Member Fitzpatrick seconded the motion. Upon a call of the roll, the vote resulted as follows: Ayes: Nays: Absent: Council Members Neal, Fitzpatrick, Weist, Bilo, Bradshaw, Otis. None. Council Member Higday. The Mayor declared the motion carried. City Attorney DeWitt noted Bill Lamm, legal counsel for the Magills in the matter has withdrawn. Mr. DeWitt stated the new counsel has reviewed and approved the resolution. RESOLUTION NO. 30 SERIES OF 1982 A RESOLUTION AGREEING TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS TO FINANCE A PROJECT FOR NANCY M. MAGILL. COUNCIL MEMBER BRADSHAW MOVED TO PASS RESOLUTION NO. 30, SERIES OF 1982. Council Member Fitzpatrick seconded the motion. In response to Council Member Neal's question, City Man- ager Mccown stated the application was submitted to the City's fi- nancial advisor who reviewed it and wrote a letter stating their c oncurrence. Council Member Bilo asked if ther was any obligation on the City cone rning this issue. • I • • • June 28, 1982 Page 5 • • • City Attorney DeWitt stated ther e was no obligation to pay off note. The City technically lends its name to the issue. Upon a call of the roll, the vote resulted as follows : Ayes: Nays: Absent: Council Members Neal, Fitzpatrick, Weist, Bilo, Bradshaw, Otis. None. Council Member Higday. The Mayor declared the motion carried. * * * * * * * COUNCIL MEMBER BRADSHAW MOVED TO BRING FORWARD AGENDA ITEM 2(B) -A RESOLUTION ADOPTING NOTICE OF SALE OF BONDS FOR PAVING DISTRICT NO. 28. Council Member Neal seconded the motion. Upon a call of the roll, the vote resulted as follows: Ayes: Nays: Absent: Council Members Neal, Fitzpatrick, Weist, Bilo, Bradshaw, Otis. None. Council Member Higday. The Mayor declared the motion carried. City Manager Mccown stated this resolution puts forth the notice of sale for spec i al assessment bonds for Paving District No. 28. Mr. Mccown advised Council of the need to set up a spe cial meeting for the award of the bond sale. Mr. Mccown stated the date could be set at the next regular meeting. RESOLUTION NO. 31 SERIES OF 1982 A RESOLUTION PROVIDING FOR THE NOTICE OF SALE OF SPECIAL ASSESS - MENT BONDS FOR PAVING DISTRICT NO. 28, IN THE PRINCIPAL AM OUNT OF $472,600. COU NCIL MEM BER NEAL MOVED TO PASS RESOLUTION NO. 31, SERIES OF 1 982. Council Member Bradshaw second d the motion. Cou n cil Member Silo oppos d th motion. Upon a call of the roll, the vote resulted as follo ws: I • • June 28, 1982 Page 6 Ayes: Nays: Absent: • • - Council Members Neal, Fitzpatrick, Weist, Bradshaw, Otis. Council Member Bilo. Council Member Higday. The Mayor declared the motion carried. * * * * * * * Discussion ensued on Alternative No. 3 on Little Dry Creek. Mr. Mccown stated sometime back the City hired Wright McLaughlin Engineers to develop various alternatives for Little Dry Creek which would provide for eliminating the 100 year flood plain within the City of Englewood and also to conform to the downtown plan. Four alternatives were submitted to Council; and tenta- tively, the Council has adopted Alternative No. 3. The purpose o f this section of this meeting is to hear any further comments from the citizens in regard to this particular alternative. Mr. Mccow n stated representatives of the City's engineering staff and representatives from Wright McLaughlin were present to discuss Alte rnative No. 3. Council Member Fitzpatrick asked for a brief presentat ion from the engineers. The engineering representa tive from Wright McLaughlin stated basic efforts have been the looking at two key alterna tives for the downtown area. One of the alte rnat i ves (No. 3) would hav the inlet at approximately the existing point to the conduit that runs do wn by Cinderella City . The engineer held up a render ing of the plan to show how the buildings wou ld be developed along the waterway. He stated No. 3 differs from No. 4 in that No. 3 is an open channel and waterway and No. 4 is conduit . The costs for No . 3 were higher than No . 4, but not significant. Mr. McCown asked what was the difference between No. 3 and No. 4 in terms of the property involved. The engineer stated Alternatives No. 3 and No. 4 are basically the same in that all of the structures need to be remov d and the reason for that is more a function of the do wnto wn develop- ment plan than the actual drainage way improvements that are needed. He stated there were other things that could be done in terms of flood control to get water through , but in the process it would destroy the do wn to wn developmen t plan. As an example the houses on the Bannock side could be taken , construct a water way on that sid , and leave the existing structures on the Acoma side. Th ne results would be a plan that is not coMpa ibl with the do wn own • I • • n June 28, 1982 Page 7 • • - develo pment plan because there would not be the space for the structu res. Mayor Otis asked if remodeling the back side of the build - ings on Acoma Street would fit in with the downtown development plan. The engineer answered no, because several of the building s go way back out into the area of the planned channel. There are also technical problems, for example, all the sanitary sewer lines are in the alley. Mayor Otis asked if there were any questions from the audience. One gentleman, later identified as Ray Ludwig, asked if there was one alternative that did not require the destruction of of businesses along Acoma. The engineer stated that wa s what he had essentially described. Mar jorie Becker, 644 East Yale Place, appeared before Council. Ms. Becker encouraged looking at more than flood control and toward a total program for do wntown improvements. Council Memb er Fitzpatrick stated he understood the channel could be moved over to the sidewa lk of Bannock and still accomplish what the City want s to do; and yet he was given to understand the sewer line running down through the alley would have to be dug up and re-routed . Director Diede stated the sewer line is the line that services the businesses and the homes on Bannock. The line will have to be removed in order to do almost anything in the channel ar a to handle the 100 year flood. If the City constructed a channel to the Bannock side which is the west side of where the channel is presently located in Alternative No. 3, that would handle the 100 year flood but would not be compatible with the downtown plan. Mr. Diede stated if the channel is moved over to the sidewalk on the east side of Bannock, then buildings will not be adjacent to the channel, they will have to be across the street on Bannock. The City can build a 100 year channel to keep the flood plain within the channel banks by moving it to the west, bu t i would not be compatible with the downtown plan. It is something hat would be done as an interim, but if the City later wante d to hift the channel it would cause some construction problems and wou ld be more costly to the City. If h City wanted to shift the channe l to thew st along Bannock in ord r to give the buildings on th Acoma sid more time to relocat , tha could b accomplished, • I • • In June 28, 1982 Page 8 • • • it would not fit with the downtown plan and would be more cos tly be c ause it would have to be excavated, built and moved later on. Council Member Bradshaw asked if Alternative No. 3 could be modified to still keep the essence of what needs to be ac c om - p l ished. Director Diede stated he and the consulting engineers have looked at that and tried to come up with ways of leaving the buildings along Acoma and still build as much of Alternative No . 3. I t c ould not be done without taking all of the buildings along Bannock side and shifting the channel completely over to handle the 100 year flood. Council Member Fitzpatrick asked if that would entail moving the sewer line on Acoma. Director Diede stated he believed the businesses were off the alley of Acoma, and would not be disrupted if shifted to the west on a temporary basis. The businesses would still have s ew er se rv ic e. When the crews star t ex c avating between Banno c k and Ac om a, s ewer service would be lost along Bannock, but not Acoma. Council Member Nea l a s ked i n terms of construction pha sing if th e taking of bu i ld i ngs on Ac oma c ould be lef t to the f i na l co n str uction phase. Director Di ede sta ted it would be diffi c ult to do. The Ci ty could do some kind of c ribbing or piling, but then it wo u ld n ot handle the 100 year flood. Counc i l Member Nea l asked how long that phase of c o n- struc t io n would take. Di r ec tor Diede stated 6 to 9 months. Council Member Neal stated the businesses would have a tempora ry reprieve for 6 to 9 months. Director Diede stated the only thing that would affec t th mis getting the federal insurance administration to reliev e them of a flood plain in the downtown area. The City can stag the co n st ruction up to Broadway and make Acoma the last effort. Di- recto r Diede stated th FIA will not recognize all of the improv - m nts to get out of the downtown improvement area until all the chan nel has been constructed. There could b problems of g ing c rtificates of occupan c y in the do wntown ar a that are in the lood plain right no w. • I • • • June 28, 1982 Page 9 • • • Council Mem ber Fitzpat ick asked if the City comple ted Littl e Dry Creek except for the east side of Litcle Dry Creek tha t is concerned with Acoma, could Little Dry Creek be complet ed e xcept for the aesthetics so that other buildings c ould be built. Director Diede stated the City could not do that. He stated they have even tried to put a sheet -tiling wall right a t th back of the existing building and do everything down in the c hann el that could be done and that still required moving the channel over to Bannock to get enough capacity in the channel to get the rest of the City out of the 100 year flood plain. He did not think the City could build a straight vertical wall along the back sides of the existing buildings, build the channel then complete the aesthetics later, and accomplish the 100 year flood plain problem of keeping it i n the channel banks. It is not possible without moving the channel temporarily over against Bannock and bring it back into the center later. There is not enough room because putting buildings over along the Bannock side and encroaching in on the buildings on the Acoma side looses much of the capacity of the channel. City Attorney DeWitt asked for the engineering drawings of Alternative No. 3 to help determine where the property take-line was . Director Diede left the meeting to get th e draw ings . A gentleman i n the audience, J. Dee, asked if it was possible to move the hydraulics towards Bannock not as a temporary measure but as a permanent solution. The engineer stated that was wh at they were trying to say earlier, it is possib le to move t he ch anne l or conduit. Director Diede stated it would not be compatible with th downtown plan, and that was the only reason why it was not along Bannock. John Pearce, own r of Englewood Hardware, appeared befo re Counc il. Mr. Pearce stated Alternative No. 3 helps solve the po ential flood on Little Dry Creek and to rejuvenate and redev lo the downtown area; but felt the alternative still needed some modification, Mr. Pearce wanted a solution that did not demolish buildings and homes and one that offered relocation help. There were no other comments or u stions. • • • • • * * COUNCIL MEMBER BRADSHAW MOVED TO ADJOURN • • I • • - • • June 28, 1982 Page 10 • • • Mayor Otis adjourned the meeting without a vote at 8:47 p.m • • I • • - • • • - ROLL CALL Ayes Nay Absent Abstain Otis J._ /b, ~ ( -77 1 aJ@ & le-' -i Llt-i J... Cu, iJJ j;tr~i_ 7J ;; ~ JJv" , , J. '-l_'~ 1Cf <V 71) (~'run) _xfJ 7( r!YY)tl 1 w ~ 't(_·l--t 1- tl ~1_ 19' 1/. 1_) j):i '-/ doiLl~ • I . • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain H1qday ,._... Neal ~ Fi tzoatrick i.- Wei st I.- Bi lo v-- Bradshaw v- Otis V" • I • • • • • f - • • Ayes Nay Absent Abstai n ·~1::,,d~ '),'U~,U.-~ ·-- / .. ._. ) ' I ) D ~ d Lt-,, . t) I v'u uf 6_., I • ' ) •"' !/(!,· ll, ~ • cl ·~.i/H ) bl' y / I r..., L ~u a & -:fa , <J. l Uj ~ L vlv • 'J J • /{ /f.1< (.1'~ I ) , • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain H1qelav -Neal v--Fltzoatrick Wei st Bi lo 1./ Bradshaw Otis • I • • • • • • • ROLL CALL Moved Seconded Ayes Nay Absent Absta· in Aiqdav Neal Fitzoatrick Weist Bi lo Bradshaw Otis ~ C./> 7 ' < l-<. /1,l -L v. ' 2 U ( 10£ r _, · l Y>U I. .t _ /) '/YlL/ d/ fa .{ ,Yl L (. L µ .{ ~ ,-- d U ?L { ./ fL~ , b' ~t .f./ tA.{/ rt. J n J--tlt (.,l 1)!v 7 1.. I)?) ~U)2c.J r/) \ 0. ~J,t ~ t<., 0 k, & /lu f 'i I . • • • • ROLL CALL Moved Seconded Aye s Nay Absent Abstain H1 gday Neal Fi tzoatrick Wei st Bi lo Bradshaw Otis -~ _J ~l Ov ~ t Lr <fi 1rffd ?f /J2,l t >U~ .)t2~ -"f)U-1 ffl G ,( ) 1 ~ t{_ I /_ -atu 1 r a J ,L.., ~ kc '>J O ' #fi/µo /, ( f -, l ' ')01. £ ,,u> 1 t -A t't-t ,u t"" c, 4 I , c ,, ~ ~rlt .;;~ ~ > t-< 'J .,41 u JN- -<l<.,( u "Q ) ? ,1. ~ u12 0 I • • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain H1odav <-- Neal , Fi tzoatrick Wei st Bi lo Bradshaw Otis ~- • I • • • • -• • ROLL CALL Moved Seconded Ayes Nay Absent Abstain H1qdav v-Neal Fitzoatrick Wei s t Bi lo v Bradshaw Otis • I • • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain H1qday - Neal v Fl tzoatrick Wei st c....--Bi lo Bradshaw Oti s I • • n • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain H1qday v-- Neal 1 Fitzcatrick 7 Wei st I Bi lo 7 Bradshaw I Oti s \ \ • I • • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Ab s tain H1odav -Neal \ v---Fi tzoatrick I Wei st 7 Bi lo I V Bradshaw \ Otis l • I • • • • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain ~,aaav Neal Fitznatrick Weist Bi lo Bradshaw Otis • I • • • • • • • ROLL CALL Hoved Seconded Ayes Nay Ab sent Abstain H1qdav Neal v-Fi tzoatrick Wei s t Bi lo ......-Bradshaw Otis /1_ a.JI-tp \) C l t. -J., Jf '&~ vt1 t<_J;_ -l C 71..t lo J i uj ,, " l -t ,l c11 '} }I/ L ti. 1 1.L I ~ " ( ld - I • • • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Ab s tain H1odav ---Neal Fitzoatrick Wei s t Bi lo Bradshaw Otis I • • • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain Bi lo Bradshaw Otis • • I • • • • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Ab s tain H1qaav Neal Fi tzoatrick Weist Bi lo Bradshaw Otis 1h e_ CrwYl ~ "-" ,;t,_ cl 'i1-"" /ll '11/ tJ-ow· "'1-- ~Yl ~ ,0 D -/I ,;_f -a% ./YU.J± P 11 /11£.l.!. f yi<J n~ • I . . • • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain H1qdav V' Neal Fi tzoatrick Weist Bi lo y---Bradshaw Otis 3 1 • • I • • • • -• • ROLL CALL Moved Seconded Ay es Na y Abse nt Abstain H1orlay L.--' Neal j Fitznatrick I Weist T Bi lo t-- Bradshaw ' Ot is I ;3_ I- • -&. t<;J rv .,,,<. '"> L t _. "fll..t1 l c/;:J C,t_L v /u fl..__, e (I. X./ 3' (' t, 1 J .:r a ,' y; -e • Ctf u C hj~c~ /) '-{~1 u 11 _,L .) , ,1-~ ~ 4(_ 7:'&... { At 1...-, G. c I n 1 ;J 1' ... I I 1 j -/ 6 y t( ,z .fl C () 6 -m I . • • • • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain H1qdav Neal Fi tzoatrick Weist Bi lo Bradshaw Otis Jn ,:_ UlA/l<.-1 ~h1Xid' cf a,) ,J ~uu.,_L Ci AJ b_d._ F tJ 6 r 1l.U Ian -~ U (()£ mu .!uYJ rt_/ tA Ju f-< }) , (!_ cK~-' J tL ),J ) -,.J,u-w-ed 1.o:.f /2_,(/)t 'J' -{2ft ~ , ~ /u rn Ceil di 1--· 1,· 1<_.1 ( a_ J 1{ ,l. L. ..-f {A_ Fil lj U /_/,, J :ti 'f ~~ 4 ~ti ~ c "-1. 0 ( l!a ,;t ../ " yz J ~ tJ ~ ' -@ ~u .,u. tf1__, -C :t ~ t-,n . ;ti J cJ/l..f 12 t i.: 7.f 7 /Ju 1- v uy'?U. <c t1 xL., ;{/c" '1 -:ti (I_ ·, {I /&a'{';' (lo ,i.to -Y2a ' L t 1 ( U ,, ~ G ) I--uy ))1c L il{ -[{L!tbl ) f ;; t ~ ) [k - J } I l 1 Lu (J l c.,., !uA< tu u j 1 /" /· ) (l d . /2( )2.U2t )) J t.t-I ~ ,..... c""li , (' • • I • • • • • ROLL CALL Moved Seconded Ayes Nay Absent H1adav Neal Fi tznat rick Wei s t Bi lo Bradshaw Otis iJ,. · f -Yi./. tJ'. fl//1. l/ {I <!.R tic.A W..t ;u {y_it,J -4 ..'f,t?c.,J, yxei,i J t,ttM.P /l..J /}0~ ~ 1-o . 9V J.A 1 t () c.l<... 11zX: ,.Ulv ( /t. '\tU.,(_~ ~u. r:; ,(.., -<. .._. ~ /))L UL{ ( C /,c~ l , \. ' '?. ' Ab s tai n ( { 0. I ~ J t-<. 1U.Ld t t z~ • !(,, i< , , ~) t'b J~ .... .-,dJ-.,{{'7'/((ef 6(....,( !..._,.,, t I f t , I • • Moved Seconded • • • ROLL CALL Ayes Na y Absent Ab s tain H1odav Neal Fi tzoatrick Wei s t Bi lo Brad shaw Otis ftu dt·1~1l T;z, J I Ct I. r"c u31 '))~( -r - ~j of a.. ti..1-c L ~ f '-n -u. /-YYl n c ho "}l-, 6 \..{.)<. L UL L {)' /3 rt ')( ., __ r ?' ,l .,I Ll-<. l I 1'a 7 t ? ~ t t:l (_ -_A,.,(. ~ ?A. 'f-2!. u <-~. ..___ ;z({(' (c_ t I t C u~ '! '(. I • • • • - ROLL CALL Moved Seconded Ayes Nay Absent Abstain Hlodav Neal Fitzoatrick Weist Bi lo Bradshaw Otis ) • .; Cl,.~ J( z_j' -C./21.iA- -d~ • I . • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain ~1aaav Neal Fi tznatri c k Wei st Bi lo Brad shaw Otis ~ ~-cl--a ,'L, ' 'l1 {',, ') 1 J; ,dw_ 2 ') ') (. <. ')'l.(_,,, ! .. J, t Oo_ I,_ f /YY'u);\{ {U_~L., t:iu 'L oJ Vr:1 1i , i 1: -/YY2 n1: e ' , /L ,,( ') ·, Pu '--0-t~ -- A'u ' ')1 ./_1 /li ' 0 f ;3 ' ( 'Y) c/u ?!.. 1 1 7t a/) z )' ,,) f-{ff, f) aci tlt-'! 1 tf O f ,1 "i 00 , 1<' 1 i -(ru. -I. 'I..~ ( , 'a,,, e. rnr &. ;. ~ u-f d?.t n'l;u x.. J 'UC{ -,,,...- • C F '>-L I< i , c..<-6 C tL. ": ~ j ·#2t .,: ,/ 1(. mt) -0 \; c-( ., -) L~~ 01 ,,.(?) ·~,(_C) ;ny~J~ / ~ l • I.J2 ct£ 7 ( 1/1 /.. I • • tJ { .(_ 'J' tUnul cl b-1: .. a /){ J{_~( • • • • • • • ROLL CALL Moved Seconded Ayes Nay Absent H1qday Neal Fitzoatrick Weist Bi lo Bradshaw Otis /f -1t r, fJ .,L{_//_ &., • 6-. "F~ Ji " ' 1,.___.. c5' !l_;:/ ~ //_,tr_ l< t i) J 1d 1( ~ /"l 4 Ab s ta in -a2 ~,Ch") -0 /)!'\,U.Vt-/1..0 {) <'.'<c "'~ ~,J ~,, a_rW:,A.Jr · ,,, d J /t)'),U " t1.L rA/l 'JI._ tl t_, d' !Le_~~,(,,t cf.AU ""Xtu \ 0.. //..I a__ -,J}a ri ..3 I L-{ l(_ ~ 2 (l l [) l )) • I . • • - • • ROLL CALL Moved Seconded Ayes Nay Absent Abstain l11odav Neal Fitznatrick Weist Bi lo v-Bradshaw Otis R,· 1-7 rf !YY) . • I • • • - • 7:30 P.M. 1. THE • • • AGENDA FOR THE SPECIAL MEETING OF ENGLEWOOD CITY COUNCIL JUNE 28, 1982 .~ . , 1"'°" ~ 'IA{ ~ / I Call to order, invocation, pledge of allegiance, and roll call. Pub lie Hearing. (a) To consider the Ordinance to amend the Comprehensive Zoning Ordinance of the City of Englewood, Colorado, by providing for the permitting of certain amusement or entertain- ment businesses as conditional uses within the collUllercial B-1 and B-2 Zones . (Copies enclosed .) 2. Public Meeting. r JJ J o AM/ab (a) To consider Alternative No. 3 on Little Dry Creek . (b) To consider adopting the Notice of Sale of Bonds for Paving District No. 28. (Copies enclosed .) (c) To consider Inducement R solution for issuance of Industrial D velopm nt Revenu Bonds for a project for Mrs . Nancy M. Magill -Arapahoe Orthopaedic Profession 1 Corporation . (Copies enclosed.) ), . • I • • • • - ;a. BY AUTHORITY ORDINANCE NO.~ SERIES OF 1982 COUNCIL BILL NO . 35 INTRODUCED BY COUNCIL MEMBER BRADSHAW AN ORDINANCE TO Alo\END 'lliE CO\PREHENSIVE ZOtHNG ORDINANCE OF 'lliE CITY OF ENGLEWOOD, COLORADO, BY PROVIDING FOR THE PERMITTING OF CERTAIN AMUSEMENT OR ENTERTAINMENT BUSINESSES AS CONDI'I'tONAL USES WITHIN THE CCMMERCIAL B-1 AND B-2 ZONES AND DECLARING AN E?-IERGENC.Y. WHEREAS, the Comprehensive Plan for the City of Englewood sets for certain goals for City areas zoned for business use including supporting the vitality of existing businesses, attracting new businesses, balancing commercial uses, and the encouragement of improvement and redevelopnent; and WHEREAS, certain amusement or entertainment businesses can provide special problems not complementary to the foregoing goals, including necessity for significant rrotor vehicle and bicycle parking, interfering lighting, loud and distracting noise, the congregation of large numbers of persons on those and adjacent business premises; and WHEREAS, it is appropriate to permit such amusement or entertainment uses within business zones subject to certain conditions and safeguards to insure that those businesses conform to the general character of the neighborhood in which they locate and that their adverse effects upon adjacent and nearby uses are minimized; and WHEREAS, the permitting of amusement and entertainment businesses as conditional uses will also alleviate other problems which have been dc~ermi ned to be associated with some of those businesses, including juvenile delinquency, truancy , noise, litter , depreciation in neighboring property , adverse health effects, morals, and adverse effects upon the youth values of vulnerable children. NGI, THEREFORE, BE IT OOOAINED BY 1llE CITY COUNCIL OF THE CITY OF E!IKiLEWOOD , COLORADO: Section 1. That the Englewood Compreh nsive Zoning Ordinance, '69 E.M.C. Sec . 22 .4-lOh, Conditional Uses, is hereby nded by adding: 2. AMUSF.MENT ESTABLISHMENTS INCUiOING, BUT NOT LIMITED 'ro: BILLIARD HALLS, BCWLING ALLEYS, COIN-OPERATED GAMES, D\NCE HALLS, EL£C'l'RO.IIC OR VIDEX> GAMES, NIGHT CLUBS, ooroooR CO~::RCIAL RECRF.ATIOOAL FACILITIES, POOL HALLS, OR SKATING RINKS . Section 2 . That th Engleqwood Compr h nsiv Zoning Ordinanc , '69 E.M.C . Sec. 22 .4-11 h, Conditional Uses, is nded by adding: 4. AMUSF.MENT ESTABLISHMENTS INCLUDING BUT NOT LIMITED 'ro: BILLIARD HALLS, BCMLING AU.EYS, COIN-OPERATED GAMES, D\NCE HALLS, EL~IC OR VIDEO GAMES, NIGHT CLUBS, ooroooR ~IMEFtCIAL RECREATIOOAL FACILITIES, POOL tw.LS SJ<ATI • I • • -• • • Section 3. That the Englewood Comprehensive Zoning Ordinance, '69 E.M.C. Sec. 22 .4-10b(3) is repealed. Section 4. An emergency is hereby declared due to the proliferation J).L d-(T . these particular types of establishments and the adverse effects theyAhave on the coovnunity, specifically,1 0RilereF1 stayiAg ~ lllte at night, 11ot goiREJ te Glass. ~ ~/f -~~ '-4.~t.,,, Introduced, read in full, and passed on first reading on the 7th day of June, 1982. Published as a Bill for an Ordinance on the 9th day of June, 1982. 1982. Read by title and passed on final reading on the 28th day of June, Published by title as Ordinance No. ___ , Series of 1982, on the 30th day of June, 1982. A test: Eugene L. Otis, Mayor ex officio 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 19132. Gary R. Hig I • • • • • - BY AUTHORITY ORDINANCE NO. 28 SERIES OF 198-2~~ COUNCIL BILL 10. 35 INTRODUCED BY COUNCIL MEMBER BRADS! IAW AN ORDINANCE 'l'O AMEND THE COMPREHENSIVE ZONING ORDINANCE OF THE CITY OF ENGLE\>.OOD , COLORADO, BY PROVIDING FOR THE PERMITTING OF CERTAIN AMUSEMENT OR ENTERTAINMENT BUSINESSES AS CONDITIONAL USES WITHIN THE CO'IMERCI/\L B-1 /\ND B-2 ZCxJES /\ND DECL/\nING /\N EMEHGl::NCY . WHEREAS, the Comprehensive Plan for the City of Englewood sets for certain goals for City areas zoned for business use including supporting the vit~lity of existing businesses , attracting new businesses , balancing commercial uses , and the encouragement of improvement and redevelopment; and WHEREAS , certain amusement or e ntertainment businesses can provide special problems not complementary to the foregoing goals , including necessity for significant motor vehicle and bicycle parking, interfering lighting, loud and distracting noise, the congregation of large numbers of persons on those and adjacent business premises; and WHEREAS , it is appropriate to permit such amusement or entertainment uses within business zones subject to certain conditions and safeguards to insure that those businesses conform to the general characte r of Lh~ neighborhood in which they locate and that their adverse effects upon adjacent and nearby uses are minimized; and WHEREAS, the permitting o( amusement and entertainmcnL businesses ..is conditional uses will also alleviate other problems which have been determined to be associated with some of those businesses, including juvenile delinquency , truancy , noise , litter , d pr~-ciation in neighboring property, adverse health effects, morals , and adverse effects upon the youth values of vulnerable child ren. NON, TIIEREFORE, BE IT OROAHll':D BY TIIE CITY COUNCIL OF 'nJE CITY OF ENGLl:..'WOOD , COLORADO: Section 1 . That the Englewood Com?rehensi ve Zoning Ordinance, 'G9 E.M.C. Sec. 22 .4-lOh , CondiLional Uses, is hereby nded by adding: 2. AMUSEMENT ESTABLISHMENTS INCWDIII(;, BUT NOT LIMITED TO: BILLIARD HALLS, BGJLIII(; ALLEYS, COIN-OPERATED GAMES, QI\NC£ 11/\LLS, EL~:cr, -./IC on vrm:o G/\MES, NIGlrr CLU , OU' H C El ClAL Rl:..'CREA'rIOJAL FACILITIES , PCX>L IIALLS, OR SKAT! JUNKS . C:e Lion ?.. Thal Lhe Engleqwood Compnih n iv Zoning Ordinilncc , ',9 E.M.C. 5cc. i:.i.11-11 h, Condillon 1 U • , i nded by ckling: 4. AMUSEMEN'r ESTABLISHMENTS INCWDING BUT NOT LIMI'fED TO: BILLIARD HAL LS , ~I ALLEYS, COIN-OPERATED GAMES, QI\NC£ HALLS, ELECrl lC on VIDEO ES, NIGIIT cw S , OUTO(X),< RC!AL REC EAT!~ FACILITIES, PCX>L IIALL.J OH KATlNG RI KS. • I • • - • • • • Section 3. That the Englewood Comprehensive Zoning Ordinance, '(i9 E.M.C. Sec . 22 .4-10b(3) is repealed. Section 4. An emergency is hereby declared due to the proliferation of these particular types of establishments and the adverse effects t e y may have on Lhe cOllUn u njLy , ,;p@cifically , c urfe w viol.:iL.i.ons , trudncy . Introduced, read in full, and passed on first reading on the 7th day of June, 1982. Published as a Bill for an Ordinance on the 9th day of June, 1982 . 1982 . Read by title and passed on final reading on the 28th day of June , 28 Published by title as Ordinance No ·~~~' Series of 1982, on the 30th day of June, 1982 . Attest: Eugene L. Otis , Mayor ex officio City Clerk-Treasurer I , Gary R. Higbee, ex officio Ci ty Clerk-Treasurer o( th Cily o( Englewood , Colorado , h reby certi(y that the above nd foregoing is a true , accurate and complele copy of the Ordinance passed on final rcadin<.J ,nd published by title as Ordinanc No .~2_a_, Series o( 1982. Gary R. fl19be __ _ I • • - • • • • • MEMO TO: Mayor Otis and Members of City Council DATE: June 22, 1982 RE: Magill The following inducement resolution was received by this office on June 18, 1982. I have not had an opportunity to review it due to the fact that Magills were required to obtain another attorney with William Lanun withdrawing as counsel because William Lamm also represents the City in various bonds. This will be reviewed prior to the Monday night meeting and if amendments are necessary, they will be offered to Council at that time. I have advised Mr. Don Wheeler of Dain Bosworth of the criteria necessary and, hopefully, the inducement reso- lution will meet this criteria. ey bb attachment I • • RESOLUTION NO. JO SERIES OF 1982 • • • A RESOLUTION AGREEING TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS TO FINANCE A PROJECT FOR NANCY M. MAGILL. WHEREAS, the City of Englewood (the "City"), State of Colorado, is authorized by the County and Municipality Development Revenue Bond Act, Title 29, Article 3, Part 1, C.R.S. 1973, as amended ( the "Act"), for the benefit of the inhabitants of the State and for the promotion of their health, safety, welfare, convenience, and prosperity, to finance one or more projects, including any land, building or other improvements and a ll necessary and appurtenant real or personal properties su itab le for manufacturing, industrial, commercial, agricultural, or business enterprises, upon such conditions as the City Council of the City may deem advisable; and WHEREAS, the City is further authorized by the Act to issue its revenue bonds or other obligations for the purpose of defraying the cost of financing any such project; and WHEREAS, Nancy M. Magill (the "User") has met with officials of the City and has advised the City of the User's interest in acquiring, constructing, improving and equipping a medical clinic within the City, including all necessary and appurtenant real and personal properties (the "Project") for lease to Arapahoe Orthopaedic Professional Corporation subject to the willingness of the City to finance the Project by the issuance of industrial development revenue bonds or other obligations pursuant to the Act: and WHEREAS, the Us er has represented to the City that the Pro je ct has been designed to qualify as a "project" within the meaning of the Act ; and WHEREAS, the City has considered the User's proposal and has concluded that the economic benefit to the City will be substantial due to an incre ase in employment and the promotion of industry and development of trade and other economic activity within the City; and WHEREAS, the City has hereby determined that issuing its industrial revenue bonds for the Project will benefit the health, welfare , safety, convenience, and prosperity of the inhabitants of the City; and WHEREAS, the City wishes to proceed with the financing of the Project, subject to the conditions herein contained; and WHEREAS, the proposed issuance of the industrial devel- opment revenue bonds and the execution of related financing documents are not prohibited by any ordinace or rules of th City: I • • • • ,· • NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO: Section 1. In order to i~duce the User to complete the Project within the City, the City shall take all steps neces- sary or advisable to effect the issuance of industrial deve lopment revenue bonds or other obligations (the "Bonds") in a maximum aggregate principal amount of $428,000. This Resolution is and constitutes the taking of affirmative official action by the City toward the issuance of the Bonds. The Bonds and the finan- cing documents relating to said Bonds shall be subject to the terms and conditions of the Memorandum of Agreement between the City and the User attached hereto as Exhibit "A" and incorpora- ted herein by specific reference. No costs are to be borne by the City in connection with the issuance of the Bonds. Section 2. The terms and conditions of the Bonds and of the financing documents relating to said Bonds or other obliga- tions will be mutually agreed upon by the City and the Oser, and prior to their execution, such documents will be subject to authorization by Ordinance of the City Council pursuant to law and any ordinance or rules of the City. Section 3. The User has agreed to provide for reimbur- sement of all expenses incurred or to be incurred by the City related to the User's Project pursuant to the Memorandum of Agreement attached hereto as Exhibit "A". Section 4. Neither the Bonds, including interest and any premiums thereon, nor anything contained in this Resolution shall constitute a debt or indebtedness of the City within the meaning of the Constitution or statutes of the State of Colorado, nor 9ive rise to a pecuniary liability of the City or a charge against its general credit or taxing powers. The Bonds shall be payable solely from and secured by a pl edge of the revenues derived from and payable pursuant to the financing documents referred to in Section 2 hereof. Section 5. All commitments by the City made herein are subject to the condition that on or before one year fro the date hereof, the City and the User shall have agreed to mutually acceptable terms for th Bonds or other obligations provided for hereunder, in an amount not to exceed $428,000, and for the sale and delivery thereof. Section 6. The form of Memorandum of Agreement pre- s nted to the City Council is approved and the Mayor of the City and the City Clerk are authorized to execute the Memorandum of Agreem nt, with such changes as the City Attorney may approve, on behalf of the City. The Mayor of the City, City Cl rk, City -2- I • • - • • • • • Attorney, and other officers and agents of the City are hereby authorized to initiate and assist in the preparation of such documents as may be appropriate to the Bonds. ADOPTED AND APPROVED on the 28th day of June 1982. ( S E A L ) Eugene L. Otis, Mayo r ATTESTED : ex officio Ci ty 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 Resolution No. , Series of 1982. Gary R. Higbee -3- • I • • • • • (EXHIBIT "A") MEMORANDUM OF AGREEMENT This Memorandum of Agreement is between the City of Englewood, Colorado (the "City") and Nancy M. Magill (the "User"). 1. Preliminary Statement. Among the matters of mutual inducement which have resulted in the execution of this Agreemen t are the following: (a) The City is a city in the State of Colo- rado, a body politic and corporate, authorized and empowered by Title 29, Article 3, of the Colorado Revised Statutes 1973, as amended (the "Act"), to issue development revenue bonds to finance one or more pro- jects, including any land, building or other improvement and all real or personal properties suitable or used f or or in connection with any manufacturing, industrial, com111ercial, agricultural or business enterpr ise , upon such terms and conditions as the City Council of the City of Englewood, (the "Council") deems adv i sable. (b) In order to increase employment and in order to promote industry and develop trade and oth er econom ic activity within the City of Englewood, State of Colo- rado: ( 1) the User proposes to acqu ire, const r uct, improve, and equip a medical clinic within the City, i ncluding all necessary and appurtenan t real and per- sonal properties ( the "Project") f or lease to Ara pahoe Orthopaedic Profess i onal Corporation, (2) pursuant to a Loan Agreement between City and User ( the "Loan Agree - ment") City will loan the proceed of 1 t industrial deve lopment revenue bonds or other obl igat1on not to exceed $428,000 ( the "B onds") to the User for such acq uisition, construction, improvement and equipment; and (3) the User will make loan repayments under said Loan Agreement sufficient to pay the principal of, premiums, if any, and interest on th Bonds or o her obligations. (cl The City has indicated its willingness to proc ed with the asuanc of its Bonds or oth r obliga- tion a provided by the Act to finance the Project and has advia d th User that, subject to due complianc with all r quirementa of law , the obtaining of all nee aaary consent• and approvals, and he h ppening of all acts, cond itions and things requir d prec dent to such financing, th City, pursuant to th Ac , will iaau th Bonda, at such tim as it d s appropru , in a principal uount sufficient to p y t.h coats of A-1 I • • • • • - such acquisition, construction, improvement a nd equip- ment of the Project, the funding of any nec essary re- serves and the expenses of issuance and sa l e of the Bonds, not to exceed an aggregate principal amo un t of $428,000. (d) The City considers that finan cing o f the Project and entering into the Loan Agreement wi th the User with respect to the Project will promote economic activity and develop trade within the City , whi ch constitutes a public purpose as described in S29 -3-102 (1), C.R.S. 1973. 2. Undertakings by the City. The City agrees as f ollows : (a) The City will issue the Bond s or other obligations pursuant to the terms of the Ac t in a principal amount not to exceed $428,000 to comp l ete the Project, the funding of any necessary reserves and the expenses incident to the authorization, sale and issuance of the Bonds. (b) The City will adopt such proceedings and authorize: ( i) the execution and delivery of such documents as may be reasonably necessary or adv i sable for the authorization, issuance and sale of the Bonds, (ii) the financing, acquisition, constru ction, improve- ment and equipment of the Project and (iii) the execu- tion of the Loan Agreement with the User and such other documents relating to the Bonds as shal l be author ized by the Act or other la~ and as shall be mutuall y satis- factory to the City and the User. ( c ) The aggregate sums to be pa id by the User un der the Loan Agreement shall be sufficient to pay the principal of , redemption prem iums, if any, and interest on the Bonds as and when the SAl'II shall become due. (d) The City will take such other acts and adopt such further proceedings as may be reasonably r quired to implement the aforesaid undertakings and as it may deem appropriate in pursuance thereof. (e) The B onds shall provide that thy shall b payable solely from and secured by a pl dg of th revenues derived from and payable pursuant to the provisions of the Loan Agreement, that they shall n ver constitute the general obligations of th Ci y within th meaning of any provision or 11 ita 10n of the Con a ti tut ion or sta utes of the Sta e, and tha they 1hall not constitu nor giv r1a to a p cuniary A-2 • I • • • • - l i ability or a charge aga i nst the ge n e r a l credit or taxing powers of the City, the Sta t e o f Color a do or any political subdiv i sion thereof. (fl In authorizing the i ssuance of the Bon d s pursuant to this Agreement, the City will make no warranty, either expressed or implied , t ha t t h e proc eeds of the Bonds will be sufficient to pay a ll cos t s of the Project. 3. Undertakings on the Part of the Use r . agrees as follows: The Us e r ( al The User will enter into a c ontra ct or con- tracts for the acquisition, construction, improvement and equipment of the Project. (bl Prior to the delivery of the Bond s, the User will enter into the Loan Agreement w ith th e City under the terms of which the User will oblig a te itself to complete the acquisition, construct ion, i mp r ov e ment and equipment of the Project and, to the e x tent not payable out of proceeds of the Bonds , to p ay to the City sums sufficient in the aggregate to pay or reimburse the City for all reasonable expenses i n curred by it in connection with the authorization, issuance and sale of the Bonds, including without lim i ta tion the reasonable expenses that the C i ty deems necessa ry for attorneys', accountants' , and audi t ors ' fees and expenses, and to make l oan repayme nts suff i c i ent t o pay the principal of, prem i ums, if any, and i nteres t o n the Bonds as and when the sa111e sha ll b eco me d u e and p a yable, all utility c h arges, taxes , a s se s sme n t s , c a sualty and liability ins u rance prem iums, a nd a ny othe r expenses or charges rel a ti ng to the o wnership, u s e, operation, maintenance, occu pa ncy a nd upkeep of t h e Project, and shall contain such othe r provisions as ma y be required by law and as shall be mutually accept a ble to the City and the User. (c) The User will take such furth r action and adopt such further proceedings as may be r quired to implement its aforesaid undertakings or as it may d em appropriate in pursuance thereof. 4. General Provisions. (a) Pr or to the issuance of the Bonds, ther shall be a reasonable showing to the City Council that th User is capable and will remain capable of carrying out its financial obligation und r the Loan Agre ment. A-3 • I • • -• • • ( b ) All c om mitmen t s with re spect to the Bonds in a pr i n ci pa l amo u nt of $428,000 of the City under Section 2 hereof and of the U se r under Section 3 hereof are sub j ect to the cond i tion t ha t, on or before one year from the date of this Agreeme nt, t he Ci t y a nd the User sha l l have agreed to mu tually a ccep table t e rms for the Bonds and for the issuance, sale a nd deli very thereof, and mutua lly acceptab le te rms a nd conditions for the Loan Agreement , and such oth e r documents re- ferred to in Sect i on 2 and the proceed ings referred to in Sect ions 2 and 3 hereof, and the City and the Use r shall have complied with all of the provisions o f t h e Act applicable to the issuance, sale and d elivery of t he Bonds and the financing of the Project . ( c) If the events set forth in Sect ion 4 (a ) and (b) above do not take place within the time set f orth or any extension thereof, and if the Bonds are no t i ssue d and sold within that time, the User agrees that it will reimburse the C i ty for all reasonab l e and n e c ess ary direct out-of-pocket expenses which t h e City may incur arising from the execution of this Agreeme nt, including without limitat i on the reasonable exp ens e s that the City deems necessary f o r attorneys', a ccountants', and aud i tors' fees and expenses, and the pe rforma nce of the City's obligat i ons here u nder, whereupon this Agreement shall terminate. (d ) The User will p r otect , i ndemnify and save the Ci ty , i ts off i c ers , ag e nts , and employees harmless from and aga i nst a l l liabiliti e s , losses, damages, costs, expenses (includ ing atto rne y s' fee s and e x penses ), causes o f action, suits, claims, demands and judgments of any na tu r e arising from: ( 1) any injury to or de a th of any person or d a ma ge to pr oper y in or upon the Projec , or growing out of or con nected with the use , non-use, condition, or occupancy o f the ProJect or a part thereof: (2 ) violation of any agre mentor cond 't1on of the Loan Agree nt, exc pt by th n glig n act or failure to act by the City; ( 3) viola ion of any contr c , restrict ion by h Us r r lating o (4 ) vi ol tion of any law, ordinanc tion affecting th ProJ ct or a part h ownership, occupancy or us th r of: regula- or th I • • - • • • • ( 5) the design, construction, or acquisition of the Project or the failure to design, acquire, or construct the Project; (6) violation of any disclosure or registra- tion requirements relating to the Bonds imposed by any federal or state securities law; and ( 7) any statement or information relating to the expenditure of the proceeds of the Bonds contained in the no-arbitrage certificate or similar document furnished by the User to the City which, at the time made, is misleading, untrue or incorrect i n any mater ial respect. IN WITNESS WHEREOF, the parties have entered into this Agreement on this __ day of , 1982. CITY OF ENGLEWOOD, COLORADO ( S E A L ) ATTESTED: · Ma yor City Clerk Nancy 11 . Magil l A-5 I • • • • • • MEMO TO: Mayor Otis and Members of City Council DATE: June 22, 1982 RE: Magill The following inducement resolution was received by this office on June 18, 1982. I have not had an opportunity to rev i ew it due to the fact that Magills were required to obtain another attorney with William Lanun withdrawing as counsel because William Lamm also represents the City in various bonds. Th i s will be reviewed prior to the Monday night meeting and i f amendments are necessary, they will be offered to Council at that time. I have advised Mr. Don Wheeler of Dain Boswor th of the criteria necessary and, hopefully, the inducement reso - lution will meet this criteria. ey bb attachment I • • RESOLUTION NO. J Q SERIES OF 1982 • • • A RESOLUTION AGREEING TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS TO FINANCE A PROJECT FOR NANCY M. MAGILL. WHEREAS, the City of Englewood ( the •city•), State of Colorado, is authorized by the County and Municipality Development Revenue Bond Act, Title 29, Article 3, Part 1, C.R.S . 1973, as amended (the •Act•), for the benefit of the inhabitants of the State and for the promotion of their health, safety, welfare, convenience, and prosperity, to finance one or more projects, including any land, building or other improvements and all necessary and appurtenant real or personal properties suitable for manufacturing, industrial, commercial, agricultural, or business enterprises, upon such conditions as the City Council of the City may deem advisable: and WHEREAS, the City is further authorized by the Act to issue its revenue bonds or other obligations for the purpose of defraying the cost of financing any such project: and WHEREAS, Nancy M. Magill (the •user•) has me t with officials of the City and has advised the City of the User's interest in acquiring, constructing, improving and equ ipping a medical clinic within the City, including all necessary and appurtenant real and personal properties (the ·Project•) for lease to Arapahoe Orthopaedic Professional Corporation subject to the willingness of the City to finance the Project by the issuance of industrial development revenue bonds or other obligations pursuant to the Act: and WHEREAS, the User has represented to the City that the Pro j ect has been designed to qualify as a •project• within the meaning of the Act: and WHEREAS, the City has considered the User's proposal and has concluded that the economic benefit to the City will be substantial due to an increase in employment and the promotion of industry and development of trade and other economic activity within the City: and WHEREAS, the C i ty has hereby determined that issuing i ts i ndustrial revenue bonds for the Project will benefit the health, welfare, safety, convenience, and prosperity of the i nhabitants of the City: and WHEREAS, the City wishes to proceed with the financing of the Project, subject to the conditions herein contained: and WHEREAS, the proposed issuance of the industr i al devel- opment revenue bonds and the execution of related financ i ng documents are not prohibited by any ordinace or rul s o f the C i ty : I • • - • • • • NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO: Section 1. In order to i~duce the User to complete the Project within the City, the City shall take all steps neces- sary or advisable to effect the issuance of industrial development revenue bonds or other obligations (the •aonds") in a maximum aggregate principal amount of $428,000. Th is Resolution is and constitutes the taking of affirmative official action by the City toward the issuance of the Bonds. The Bonds and the finan- cing documents relating to said Bonds shall be sub j ect to the terms and conditions of the Memorandum of Agreement between the City and the Oser attached hereto as Exhibit •A• and i ncorpora- ted herein by specific reference. No costs are to be borne by the City in connection with the issuance of the Bonds. Section 2. The terms and conditions of the Bonds and of the financing documents relating to said Bonds or other obliga- tions will be mutually agreed upon by the City and the User, and prior to their execution, such documents will be subject to authorization by Ordinance of the City Council pursuant to law and any ordinance or rules of the City. Section 3. The Oser has agreed to provide for reimbur- sement of all expenses incurred or to be incurred by the City related to the User's Project pursuant to the Memorandum of Agreement attached hereto as Exhibit ·A·. Section 4. Neither the Bonds, including interest and any premiums thereon, nor anything contained in this Resolutio n shall constitute a debt or i ndebtedness of the City with in the meaning of the Constitution or statutes of the State of Colorado, nor 9ive rise to a pecuniary li ab ility of the City or a charge against its general credit or taxing powers. The Bonds shall be payable solely from and secured by a pledge of the revenues derived from and payable pursuant to the financing documents referred to in Section 2 hereof. Section 5. All commitments by the City made herein are subject to the condition that on or before one year from the date hereof, the City and the User shall have agreed to mutually acceptable ter111a for the Bonds or other obligations provided for hereunder, in an amount not to exceed $428,000, and for the sale and delivery thereof. Section 6. The form of Meaorandum of Agreement pre- sented to the City Council is approved and the Mayor of the City and the City Clerk are authorized to execute the Memorandum of Agreem nt, with such changes as the City Attorney may approve, on behalf of the City. The Mayor of the City, Ci ty Clerk, City -2- • I • • -• • • Attorney, and other officers and agents of the City are hereby authorized to initiate and assist in the preparation of such documents as may be appropriate to the Bonds. ADOPTED AND APPROVED on the 2~ day of June 1982. ( S E A L Eugene L. Otis, Mayor A'rl'ESTED: ex officio 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 Resolution No.~, Series of 1982. Gary R. Higbee -3- • I • • • • - (EXHIBIT "A") MEMORANDUM OF AGREEMENT This Memorandum of Agreement is between the City of Englewood, Colorado (the "City") and Nancy M. Magill (the "User"). 1. Preliminary Statement. Among the matters of mutual inducement which have resulted in the execution of this Agreement are the following: (a) The City is a city in the State of Colo- rado, a body politic and corporate, authorized and empowered by Title 29, Article 3, of the Colorado Revised Statutes 1973, as amended (the "Act"), to issue development revenue bonds to finance one or more pro- jects, including any land, building or other improvement and all real or personal properties suitable or used for or in connection with any manufacturing, industrial, com111ercial, agricultural or business enterprise, upon such terms and conditions as the City Council of the City of Englewood, (the •council") deems adv isable. ( b) In order to increase employment and in order to promote industry and develop trade and other economic activity within the City of Englewood, State of Colo- rado: ( 1) the User proposes to acquire, construct, improve, and equip a medical clinic with in the City, including all necessary and appurtenant real and per- sonal properties (the "Project") for lease to Arapahoe Orthopaedic Profess ional Corporation, (2) pursuant to a Loan Agreement between City and User ( the "Loan Agree- 111ent") City will loan the proceeds of its industrial development revenue bonds or other obligation not to exceed $428,000 (the •eonds") to the User for such acq uisition, construction, improvement and equipment; and ( 3) the User will make loan repayment s under said Loan Agreement sufficient to pay the principal of, premi urns, if any, and interest on the Bonds or other obligations. (c) The City has indicated its willingness to proceed with th issuanc of its Bonds or other obliga- tion as provided by the Act to finance the Project and has advised the User that, subject to due compliance with all requirements of law, the obtaining of all necessary consents and approvals, and th happ ni ng of all acts, conditions and things requi r d preced nt o such financing, the City, pursuant to th Ac, will issue the Bonda , at such t m as it deems appropnat , in a principal amount sufficient to p y th costs o f A-1 I • • - • • • - such acquisition, construction, improvement and equip- ment of the Project, the funding of any necessary re- serves and the expenses of issuance and sale of the Bonds, not to exceed an aggregate principal amount of $428,000. (d) The City considers that financing of the Project and entering into the Loan Agreement with the User with respect to the Project will promote econom ic activity and develop trade within the City, which constitutes a public purpose as described in S29-3-102 (1), C.R.S. 1973. 2. Undertakings by the City. The City agrees as follows: (a) The City will issue the Bonds or other obligations pursuant to the terms of the Act in a principal amount not to exceed $428,000 to complete the Project, the funding of any necessary reserves and the expenses incident to the authorization, sale and issuance of the Bonds. (b) The City will adopt such proceedings and authorize: ( i) the execution and delivery of such documents as may be reasonably necessary or advisable for the authorization, issuance and sale of the Bonds, (ii) the financing, acquisition, construction, improve- ment and equipment of the Project and (iii) the execu- tion of the Loan Agreement with the Oser and such other documents relating to the Bonds as shall be authorized by the Act or other law and as shall be mutually satis- factory to the City and the User. (c) The aggregate sums to be pa id by the User under the Loan Agreement shall be sufficient to pay the principal of, redemption prem iums, 1f any, and interest on the Bonds as and when the s am e shall become due. (d) The City will take such other acts and adopt such furth r proc edings as may b reasonably required to implement the aforesaid undertakings and as it m y deem appropriate in pursuance thereof. (e) The onds shall provide that they shall be payable solely fro and secured by a pledge of the revenues derived from and payable pursuant to the prov ision• of he Loan Agreement, that they shall nev r conati tute the g neral obligations of th City with in the mean ng of any provision or li itat1on of th Con a ti tut ion or statutes of the Stat , and that th y shall not constitute nor giv ris to a pecuniary A-2 • I • • • • • liability or a charge against the general credit or taxing powers of the City, the State of Colorado or any political subdivision thereof. ( f} In authorizing the issuance of the Bonds pursuant to this Agreement, the City will make no warranty, either expressed or implied, that the proceeds of the Bonds will be sufficient to pay all costs of the Project. 3. Undertakings on the Part of the User. agrees as follows: The User (a} The User will enter into a contract or con- tracts for the acquisition, construction, improvement and equipment of the Project. (b} Prior to the delivery of the Bonds, the User will enter into the Loan Agreement with the City under the terms of which the User will obligate itself to complete the acguisi tion, construction, i mprovement and equipment of the Project and, to the extent not payable out of proceeds of the Bonds, to pay to the City sums sufficient in the aggregate to pay or reimburse the City for all reasonable expenses incurred by it in connection with the authorization, issuance and sale of the Bonds, including without limitation the reasonable expenses that the City deems necessary for attorneys•, accountants•, and auditors• fees and expenses , and to make loan repayments sufficient to pay the principal of, premiums, if any, and interest on the Bonds as and whe n the same shall become due and payable, al 1 utility charges, taxes, assessments, casualty and liability insurance premiums, and any other expenses or charges relating to the ownership, use, operat ion, maintenance, occupancy and upkeep of the Project, and shall contain such other provisions as may be required by law and as shall be mutually acce p table to the City and the User. (c} The User will take such further action and adopt such further proceedings as may be required to implement its aforesaid undertakings or as it may de appropriate in pursuance thereof. 4. General Provisions. (a) Prior to the issuance of the Bonds, th re shall be a reasonable showing to the City Council that the User is capable and will remain capabl of carrying out its financial obligations und r th Loan Agreement. A-3 • I • • • • - (b ) All commitments with respect to the Bonds in a principal amount of $428,000 of ~he City under Section 2 hereof and of the User under Section 3 hereof are subject to the condition that, on or before one year from the date of this Agreement, the City and the User shall have agreed to mutual ly acceptable terms for the Bonds and for the issuance, sale and delivery thereof, and mutually acceptable terms and condit ions for the Loan Agreement, and such other documents re- ferred to in Section 2 and the proceed ings referred to in Sections 2 and 3 hereof, and the City and the User shall have complied with al 1 of the provisions of the Act applicable to the issuance, sale and delivery of the Bonds and the financing of the Project. ( c) If the events set forth in Section 4 (a) and (b) above do not take place within the time set forth or any extension thereof, and if the Bonds are not issued and sold within that time, the User agrees that it will reimburse the City for all reasonable and necessary direct out-of-pocket expenses which the City may incur arising from the execution of this Agreement, including without limitation the reasonable expenses that the City deems necessary for attorneys', accountants', and auditors' fees and expenses, and the performance of the City's obligat ions hereunder, whereupon this Agreement shall terminate. (d) The User will protect, indemnify and save the City, its officers, agents, and employees harmless from and against all li abil itie s, losses, damages, costs, expenses ( including attorneys' fees and expenses), causes of action, suits, claims, demands and judgments of any nature ar isi ng from: ( 1) any injury to or death of any person or damage to property in or upon the Project, or growing out of or connected with the use, non-use, condition, or occupancy of the Project or a part thereof; (2) violation of any agreement or cond i tion of the Loan Agre ment, exc pt by the negl i gent act o r failure to act by the City, ( 3) violation of any contract, agr restriction by the User relating to th nt or Project ; (4) violation of any law, ordinanc or regula- tion aff cting th Project or a part ther of or th ownership, occupancy or uae th r of ; • I • • - . . • • • • • ( 5) the design, construction, or acquisition of the Project or the failure to design, acquire, or construct the Project; ( 6 ) violation of any disclosure or registra- tion requirements relating to the Bonds imposed by any federal or state secur ities law; and ( 7) any statement or information rela t ing to the expenditure of the proceeds of the Bonds contained in the no-arbitrage certificate or similar document furnished by the Oser to the City which, at the time made, is mislead ing , untrue or incorrect in any material respect. IN WITNESS WHEREOF, the parties have entered into this Agreeaent on this~~ day of , 1982. CITY OF ENGLEWOOD, COLORADO ( S E A L ATTESTED: Ma yor City Clerk Nancy M. Magill • I • • rr_ • RESOLUTION NO. JI SERIES OF 1982 • • • A RESOLUTION PROVIDING FOR THE NO T ICE OF SALE OF SPECIAL ASSESS- MENT BONDS FOR PAVING DISTRI CT NO . 28, IN THE PRINCIPAL AMOUNT OF $472,600. WHEREAS, by Ordinance No. 22, Series of 1982, finally passed and adopted on May 17, 1982, the City Council has created Paving District No. 28, in the City of Englewood, for the purpose of constructing and installing street paving, curb and gutter and sidewalk improvements on cert an street within the District; and WHEREAS, the City Council has determ i ned th at it i s necessary to provide for the issuance of bonds in the amount not exceeding $472,600 to pay for part of the cost o f said i mprove- ments, the principal of and i nterest on t h e bonds to be payable frOIII special assessments to be levied against the property within the District and spec i ally benefited b y the i mpro vemen t s to be constructed and installed; and WHEREAS, in accordance wi t h the prov is ion s of th e Ci t y Charter, it is nece s sary t o adver tise for t h e s al e of s a id bond s; BF. IT RESO LVE D BY THE CITY COU NCIL OF T HE CI T Y OP ENGLEWOOD, COLORADO : 1. That notice of sale of bonds of the City for Paving District No. 28, in the principal amount of $472,600, shall be given by publica tion in one issue of the Englewood s n nel, a newspaper publish d and of gen ral circulation in the City , in th edition dated Jun 30, 1982. 2. The fora of the notice of s le shall b substan- ti a lly a a follows: • I • • - • • • • NOTI CE OP SAL CITY OP ENG LE D, COLORADO PAVING DISTR ICT 0. 2 SPECIAL ASSESSMENT BONDS, $472,600 BID OPENING: MONDAY, JULY 1 2, 1982 2:00 P.M. M.S.D.T . NOTICE IS HEREBY GIVEN That the City of Englewood, Colorado, will receive sealed bids at the office of the Director of Finance at the Municipal Building, 3400 So. Elati Street, in Englewood, Colorado, until 2:00 P.M., on Monday, July 12, 1982 for the purchase of Special Assessment Bonds in the princi- pal amount of $472,600, of the City of Englewood, Colorado for Paving District No. 28. The bonds will be dated August l, 1982, and due August 1, 1993, subject to prior redemption in direct numerical order on any interest payment date upon thirty (30) days published notice, upon payment of par and accrued interest. The bonds shall be in the denomination of $1,000 each, numbered l to 473, inclusive, except for Bond No. l which will be $600. The interest on the bonds shall be payable on Feb- ruary 1, 1983, and semiannually thereafter on February l and August l, 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: Amount Estimated Pa:i!!!ent Date 162,600 August 1 , 1983 85,000 August 1 , 1984 65,000 August l , 1985 $ 4 5,000 August l , 1986 45,000 August l , 1987 35,000 August 1 , 1 988 35,000 August 1 , 1989 The above estimat d payment dates are based upon past experience of redemption by the City and their accuracy is not guaranteed. The principal of and inter at on the bonds sh all b payable at The Pi rat Nationa l Bank of Englewood, in Engl wood, Color do. -2- ) I • • • • • The bonds will bear interest at a maximum net effective interest rate not exceeding 15% per annum, and will be sold at not less than par and accrued interest to the date of delivery. Different or separate •A• and •s• coupon rates may be bid for each estimated payment date, but bids based on split coupon rates for any one estimated payment date will not be accepted. Subject to the right of the City to reject any and all bids received, the bonds will be awarded on the bid representing the lowest net cost to the City based upon the estimated dates of payment as set forth above. The bonds are being issued to pay part of the cost of constructing and installing street paving, curb and gutter and sidewalk improvements. The bonds are payable solely from special assessments to be levied against the property within the Di strict specially benefited by the construction and installation of the improvements. In addition, the Charter of the City and the ordinance authorizing the issuance of bonds provide: •whenever a Public Improvement District has paid and cancelled four-fifths (4/5) 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 thereon, then the City shall pay said bonds when due and interest due thereon and reimburse itself by collect- ing the unpaid assessments due said district•. All bids must be unconditional and shall be accompanied by a cashier's or certified check in the amount of $10,000, payable to the City of Englewood. Checks of unsuccessful bidders will be promptly returned. The good faith deposit will be credited to the purchaser at the time delivery of the bonds is made; if the successful bidder shall fail or neglec to complete the purchase of the bonds in accordance with the bid, the amount of the deposit shall be held by the City as liquidated damages. The City of Englewood reserves the privilege of waiving any defect or irregularity in any bid, and the right to reject any and all bids for the purchase of said bonds. The award of the bonds will be made by the City Council at the meeting on July 12, 1982, at 7:30 P.M., or at an adjourn- ment of the Council e ting on that date. D livery of the bonds will be mad t any b nk or trust company in either Englewood or D nver, Colorado, or la wh re at the request and expena of th purchas r. It a anticipat d that delivery of th bonds wi ll b on or about August 26, 1982. Th City will furnish transcript of legal proc dings The 1 gality of the bonds will b Braymer, Wisor, P.C., Attorn ya -3- th execut d bonds, a c rtified nd the approv ing l gal opinion. approved by Me aara. Lamm Edstrom at Law, D nv r, Colorado, whoa I • • • • • • legal opinion will be printed on each bond. Bond counsel's approving opinion will recite, in conventional form, that bond counsel has examined the Constitution and Laws of the State of Colorado and the Charter of the City, a certified copy of the record of the proceedings of the City taken preliminary to and in the issuance of the bonds, and bond numbered one of said i ssue, and that the Bond has been properly executed and is in due legal form. The opinion will state that the bonds are val i d and legally binding upon the City and that the obligations incurred by the City in issuing the bonds are subject to applicable laws of bankruptcy and the reasonable exercise of the police power of the State. The last paragraph of the opinion will express an unquali- fied opinion as to the exemption of interest on the bonds from federal taxation and from taxation by the State of Colorado. The matters passed upon by bond counsel do not extend beyond those mentioned in the preceding paragraph. The opinion will state that bond counsel has not independently investigated or verified the adequacy and accuracy of the information con- tained in the Official Statement , Prospect us , Of fering Circular or other sim il ar documents , if any, and therefore assumes no re- sponsibility for the accuracy , completeness or fairness of any statements made in connection with any purchase or sale of any of the bonds . Additional information concerning this issue and the City may be obtained from Kr . Gary R. Higbee, Dire ctor of Finance, Municipal Building, 3400 So. El ati Street, Englewood, Color ado 80110, or from Hanifen , Imhoff Inc., 1125 Seventeenth Street, Suite 1700, Denver, Colorado 80202, the financial consultant to the City. The City Council has expressly consented in writing to a uthorize Hanifen, I11hoff Inc., either alone or with others, to submit a bid for the purchase of this issue of bonds. DATED at Englewood, Colorado, as of the 28th day of June, 1982. ( S E A L ) ATTEST: /s{ Gary R. Higbe Director of Financ, City o! Englewood, Colorado Publiah in: Englewood S ntin 1 Publiah on: June 30, 1982 /s/ Eugene L. Otis Mayor City of Englewood, Colorado -4- • I • • - • • • • • 3. In addition to the publication of the notice of sale, the Director of Finance and the Financial Consultant are authorized to forward a copy of the prospectus and notice of sale to those investment banking firms, banks and others who might be interested in bidding on bonds of the City. The prior action of the City Council in designating Hanifen, Imhoff Inc., as Finan- cial Consultant to the City, in connection with Paving District No. 28, is hereby ratified and approved; and that the fee paid or to be paid to such firm is fair and reasonable compensation for services in acting as Financial Consultant. 4. That if any one or more sections or parts of this Resolution shall be adjudged unenforceable or invalid, such judgment shall not affect, impair or invalidate the remaining provisions of this Resolution, it being the intention that the various provisions hereof are severable. ADOPTED AND APPROVED This 28th day of June, 1982. ( S E A L ) Mayor ATTEST: Director of Finance ex officio City Clerk-Tr asurer I, Gary R. Higbee, ex officio City Clerk-Treasurer o the City of Englewood, Color do, h reby cer ify h h abov a for going is a ru, accur and comple copy of R solu ion No -v:1-~• s ri s of 1982. G ry Higbe -5- • I • • RE SOLUTION NO. J I SERIES OF 1982 • • • b A RESOL UTION PROVI DI NG FOR THE NOTICE OF SALE OF SPECIAL ASSESS- MENT BONDS FOR PAVING DISTRICT NO . 28, IN THE PRINCIPAL AMOUNT OF $472,600. WHEREAS, by Ordinance No. 22, Series of 1982, finally passed and adopted on May 17, 1982, the City Council has created Paving District No. 28, in the City of Englewood, for the purpose of constructing and installing street paving, curb and gutter and sidewalk: improvements on certan street within the District; and WHEREAS, the City Counc i l h as determined that it is necessary to provide for the i ssuance of bonds in the amount not exceeding $472,600 to pay for part of the cost o f sa i d i mprove- ments, the principal of and interes t o n the bonds to be payable from special assessments to be lev i ed aga i ns t the property within the District and specially bene fi ted by the improvemen ts to be constructed and in sta lled ; a nd WHEREAS, in a ccordanc e with the p rovisions of the City Charter, it is ne c e ssa ry to advertise for the sal of said bonds; BE IT RES OLVED BY THE CIT Y COU NCIL OF T HE CITY OF ENGLEWOOD, COLORADO : 1. Th a t notic of sale of bonds of the City for Paving District No. 28, in th principal mount of $472,600, shall be given by publication in on iuu of the Engle od Sentin 1, • n wapaper publiah d and of gen ral circulation in th City, in the dition da t d June 30, l 82. 2 . The form of t not1c of a 1 hall b ubatan- ti a lly •• followa: 1 I • • • • - NOTICE OF SALE CITY OF ENGLEWOOD, COLORADO PAVING DISTRICT NO . 28 SPECIAL ASSESSMENT BONDS, $472,600 BID OPENING: MONDAY, JULY 12, 19 82 2:00 P.H. H.S .D.T. NOTICE IS HEREBY GIVEN That the City of Englewood, Colorado, will receive sealed bids at the office of the Director of Finance at the Municipal Building, 3400 So. Ela ti Street, in Englewood, Colorado, until 2:00 P.H., on Monday , July 12, 1982 for the purchase of Special Assessment Bonds in the princi- pal amount of $472,600, of the City of Englewood, Col orado for Paving District No. 28. The bonds wi ll be dated Augu st 1, 1982, and due August 1, 1993, subject to prior redemption in direct numerical order on any interest payment date upon thirty (30) days published notice, upon payment of par and accrued interest. The bonds shall be in the denomination of $1,000 each, numbered l to 473, inclusive, except for Bond No. 1 which will be $600. The interest on the bonds shall be payable on Feb- ruary 1, 1983, and semiannually thereafter on February 1 and August 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: Amount Estimated Pa:i::!!!en Date 162,600 August 1 , 1983 85,000 August 1 , 1984 65,000 August 1 , 1985 $ 45,000 August 1 , 1986 4 5,000 August 1 , 1987 35,000 Augus 1 , 1988 35,000 August 1, 19 89 The above estimated payment dates ar based upon paat experience of red mption by th City and their accuracy is not guaranteed. The principal of and intra on h bonds shall b payabl at Th First National B nk of Engl wood, in Engl wood, Colorado. • I • • -• • • The bonds wi ll bear interest at a maximum net effective interest rate not exceed ing 15% per annum, and will be sold at not less than par and accrued interest to the date of delivery. Different or separate •A• and •s• coupon rates may be bid for each estimated payment date, but bids based on split coupon rates for any one estimated payment date will not be accepted. Subject to the right of the City to reject any and all bids received, the bonds will be awarded on the bid representing the lowest net cost to the City based upon the estimated dates of payment as set forth above. The bonds are being issued to pay part of the cost of constructing and installing street paving, curb and gutter and sidewalk improvements. The bonds are payable solely from special assessments to be levied against the property with in the District specially benefited by the construction and installation of the improvements. In addition, the Charter of the City and the ordinance authorizing the issuance of bonds provide: •whenever a Public Improvement District has paid and cancelled four-fifths (4/5) 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 thereon, then the City shall pay said bonds when due and interest due thereon and reimburse itself by collect- ing the unpaid assessments due said district•. All bids must be unconditional and shall be accompanied by a cashier's or certi fied check in the amount of $10,000, payable to the City of Englewood. Checks of uns uccessful bidders will be prompt ly returned. The good faith deposit will be credited to the purchaser at the time delivery of the bonds is made; if the successful bidder shall fail or n glee to complete the purchase of the bonds in accordance with the bid, he amount of the deposit shall be held by the City as liquidated damages. The City of Englewood reserves the privilege of waiving any defect or irregularity in any bid, and the right to reject any and all bids for the purchase of said bonds. The award of the bonds will be made by the Ci ty Council at the meeting on July 12, 1982, at 7:30 P.M., or tan adjourn- ment of the Council meeting on tha d t. Delivery of th bonds will be mad at any b nk or trust company in either Engle odor D nver, Colorado, or lsewh r t the request and expens of th purchas r. It is anticipated that deliv ry of the bond will b on or about August 26, 1982. The City will furnish h ex cut d bonds, c r ified transcript ot legal proc ding s and th approving lg l opinion. The l gality of th bonda will be pproved by M aars. La Edstrom Brayraer , isor, P.C., Attorneys at L w, D nv r, Color do, whoa -3- • I • • -• • - l egal opinion will be printed on each bond. Bond counsel 's approving opinion will recite, in conventional form, that bond counsel has examined t he Constitution and Laws of the State of Colorado and the Charter of the City, a certified copy of the record of the proceedings of the City taken preliminary to and i n the issuance of the bonds, and bond num b ered one of sa i d issue , and that the Bond has been properl y executed and i s i n due lega l form. The ppinion will state that the bonds are valid and l egally binding upon the City and that the obligations i ncurred by the City in issuing the bonds are sub j ect to appl ic able laws of bankruptcy and the reasonable exercise of the pol i ce power of the State. The last paragraph of the opinion will express an unquali - fied opinion as to the exemption of interest on the bonds from federal taxation and from taxation by the State o f Col orado. The matters passed upon by bond counsel do not extend beyond those mentioned in the preceding paragraph. The op i n i on will state that bond counsel has not independently i nvestigated or verified the adequacy and accuracy of the information con- tained in the Official Statement, Prospectus , Offer i ng Ci rcular or other similar documents, i f any , and th erefo re ass u me s no re - sponsibility for the accuracy, compl e teness or f a ir ness o f any statements made in connection with any purchase o r s a l e of a n y of the bonds. Add i t ion a l i nfo rmat io n con c ern i ng this issue and the City may be obta i ned f rom Kr. Gary R. B i gbee, Di rector o f Fi nanc e, Municipal Build i ng , 34 00 So . El a ti S treet , Eng l ew o od, Color ad o 80110, or from Ran if e n, Imhoff Inc ., 1125 S ev e nteenth Street, S ui te 1700, Denver, Color a do 80202, the fin a ncial consult a nt to the C i ty. The City Council h a s e x pressly co n sen t ed in writing to authorize Ran i fe n, I mh off Inc., either alo ne o r with others, to su bmit a bid f o r the purch a se of this issue of bonds. DAT!D at Englewood, Colorado, as of the 28th day of June, 1982. ( S E A L ) I•! Eugene L. Otis Mayor City of Engl wood, Colorado ATTEST: /•( Gary R. H gb e Director of Pinance, City of Engle od, Color do Publish in: Engle od Sen in 1 Publiah on: Jun O, 1 82 • I • • -• • • 3. In addition to the publication of the notice of sale, the Director of Finance and the Financial Consultant are authorized to forward a copy of the prospectus and not i ce of sale to those investment banking firms, banks and others who might be interested in bidding on bonds of the City . The prior action of the City Council in designating Hanifen, Imhoff Inc., as Finan- cial Consultant to the City, in connection with Paving District No. 28, is hereby ratified and approved: and that the fee paid or to be paid to such firm is fair and reasonable compensation for services in acting as Financial Consultant. 4. That if any one or more sections or parts of this Resolution shall be adjudged unenforceable or invalid, such judgment shall not affect, impair or invalidate the remaining provisions of this Resolution, it being the intention that the various provisions hereof are severable. ADOPTED AND APPROVED This 28th day of June, 1982. ( S E A L } ATTEST: Director of Finance ex officio City Clerk-Treasurer of is of I, Gary R. Higb e, Englewood, Colorado, true, ccur nd 1982. ex o ficio h reby comp! -5- Mayo r G ry h _, City going Sri s I • • • - • • I I I PROSPECTUS AND NOTICE OF SALE I I I I CITY OF I I ENGLEWOOD, COLORADO I I I PAVING DISTRICT No.28 I SPECIAL ASSESMENT BONDS SERIES AUGUST I, 1982 I I I I . • nroff • • I I I I I I I I I I I I I I I I I I • • • • $472,600 CITY OF ENGLEWOOD, COLORADO PAVING DISTRICT NO. 28 SPECIAL ASSESSMENT BONDS Bid Opening July 12, 1982@ 2:00 P.M., M.D.S.T. City Municipal Building 3400 S. Elati Street Englewood, Colorado 80110 (303) 761-1140 Mayor and City Council Eugene L. Otis. . . . . . . . . . . . • . . . . . . . . . . . . . . . . . . . . . • . . . . . . . . . . Mayor Beverly J. Bradshaw •.•••••••••••...•.••••••....•...• Mayor Pro Tern Joseph V. Bilo ....•••.••.••.••..••••.•••••••.....•....• Councilman 'lbomas R. Fitzpatrick •••••••••••••••••••••••••.•••••••• Councilman James L. Higday, Jr •••••••••••••••••••••••••.••.••.•••• Councilrnan John D. Neal ......•...•...........••..•.•.............. Counc i l ma n Robert B. Weist .••................•....•.•......•...... Coun ci lman City Administration Andrew J . McCown •••••••••••••••••••••••••••••.••••••• City Manager Peter Vargas •••••••••••••.•••••.••••••••••• As s is t an t Ci ty Manager Gary R. Higbee •••••••••••••••.•••••••••••••••• Dire ctor of Finance e x-officio City Clerk a nd Tr easu r er Ri ck DeW i tt ••••••••••••••••••.•••••••••••••••••••••• Ci ty Attorney Kel l s Wagg oner ••••.••••••••.•••••.••••••• Di re ctor of Pu blic Works Stewart H. Fo nda •••••••••••••••.•••••••••••• Director of Utilities Bond Attorney Lamm Edstrom Br ym r & Wi or 8 1 8 Se v enteenth Street Den v e r, Color do 80202 (303) 8 25-1284 Financial Consultant Hanifen, Imhoff Inc. 1125 Sevente nth Street Denver , Colorado 80202 (303) 534-0221 Th information contain din this prosp ctua h s b en obt ind from sources b 11 v d to b r liabl , bu is not gu rant d . I h s b en pr pr d by Hanif n, Imhof Inc. und r th dir ction o City of F.ngl wood Officials . -1- • I • • In ,.., • • • NOTICE OF SALE CITY OF ENGLEWOOD, COLORADO PAVING DISTRICT NO. 28 SPECIAL ASSESSMENT BONDS, $472,600 BID OPENING: MONDAY, JULY 12, 1982 2:00 P.M. M.S.D.T. NOTICE IS HEREBY GIVEN That the City of Englewood, Colorado, will receive sealed bids at the office of the Director of Finance at the Municipal Building, 3400 So. Ela ti Street, in Englewood, Colorado, until 2:00 P.M., on Monday, July 12, 1982 for the purchase of Special Assessment Bonds in the princi- pal amount of $472,600, of the City of Englewood, Colorado for Paving District No. 28. The bonds will be dated August 1, 1982, and due August 1, 1993, subject to prior redemption in direct numerical order on any interest payment date upon thirty (30) days published notice, upon payment of par and accrued interest. The bonds shall be in the denomination of $1,000 each, numbered 1 to 473, inclusive, except for Bond No. 1 which will be $600. The interest on the bonds shall be payable on Feb- ruary 1, 1983, and semiannually thereafter on February 1 and August 1, each year, to be evidenced by one or more se s of interest coupons. For the purpose submitted on the following of comparison only, bids estimated dates of payment: shall b Amount Estimated Pa:i!!!ent Date 162,600 August 1 , 1983 85,000 August 1 , 1984 65,000 August 1 , 1985 $ 45,000 August 1 , 1986 4 5,000 August 1 , 1987 35,000 August 1 , 1988 35,000 August 1 , 1989 The above estimated payment dates are baa d upon past experience of redemption by the City and their accuracy is not guaranteed. The principal of and interest on the bonds shall b payable at The Pirat National Bank of Englewood, in !nglevood, Colorado. -2- I I • I • • - The bonds will bear interest at a maximum net effective interest rate not exceeding 15% per annum, and will be sold at not less than par and accrued interest to the date of delivery. Different or separate •A• and •s• coupon rates may be bid for each estimated payment date, but bids based on split coupon rates for any one estimated payment date will not be accepted. Subject to the right of the City to reject any and all bids received, the bonds will be awarded on the bid representing the lowest net cost to the City based upon the estimated dates of payment as set forth above. The bonds are being issued to pay part of the cost of constructing and installing street paving, curb and gutter and sidewalk improvements. The bonds are payable solely from special assessments to be levied against the property within the District specially benefited by the construction and installation of the improvements. In addition, the Charter of the City and the ordinance authorizing the issuance of bonds provide: •whenever a Public Improvement District has paid and cancelled four-fifths (4/5) 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 thereon, then the City shall pay said bonds when due and interest due thereon and reimburse itself by collect- ing the unpaid assessments due said district•. All bids must be unconditional and shall be accompanied by a cashier's or certified check in the amount of $10,000, payable to the City of Engle wood. Checks of unsuccessful bidders will be promptly returned. The good faith deposit will be er dited to the purchaser at the time delivery of the bonds is ade; if the successful bidder shall fail or neglect to complete the purchase of the bonds in accordance with the bid, the amount of the deposit shall be held by the City as liquidated damages. The City of Englewood reserves the privilege of waiving any defect or irregularity in any bid, and the right to re j ect any and all bids for the purchase of said bonds. The award of the bonds will be made by the City Council a t the meeting on July 12, 1982, at 7:30 P.M., or at an adjourn- nt of the Council meting on that date. Delivery of the bonds will be ad at any bank o r trust company in eith r Engl wood or Denver, Colorado, or elsewhere at th request and exp nse of the purchaser. It is anticipated that delivery of che bonds will b on or about August 26, 1982. The City wi ll furnish th ex cut d bonds, a certified tran cript of l gal proc edings and the approving legal opinion. The legality of th bonds will be approv d by M sara. Lamm Edstrom Braymer, Wisor, P.C., Attorneys at Law, Denv r, Colorado, whose -:1- • I • • • • • legal opinion will be printed on each bond. Bond counsel's approving opinion will recite, in conventional form, that bond counsel has examined the Constitution and Laws of the State of Colorado and the Charter of the City, a certified copy of the record of the proceedings of the City taken preliminary to and in the issuance of the bonds, and bond numbered one of said issue, and that the Bond has been properly executed and is in due legal form. The opinion will state that the bonds are valid and legally binding upon the City and that the obligations incurred by the City in issuing the bonds are subject to applicable laws of bankruptcy and the reasonable exercise of the police power of the State. The last paragraph of the opinion will express an unquali - fied opinion as to the exemption of interest on the bonds from federal taxation and from taxation by the State of Colorado . The matters passed upon by bond counsel do not extend beyond those mentioned in the preceding paragraph. The opinion will state that bond counsel has not independently investigated or verified the adequacy and accuracy of the information con- tained in the Official Statement, Prospectus, Offer i ng Circular or other similar documents, if any, and therefore assumes no re- sponsibility for the accuracy, completeness or fairness of any statements made in connection with any purchase or sale of any of the bonds. Additional i nformation concerning this issue and the City may be obtained from Mr. Gary R. Higbee, Director of Finance, Municipal Building, 3400 So. Elat i Street, Englewood, Colorado 80110, or from Ran i fen, Imhoff Inc ., 1125 Seventeenth Street, Su i te 1 7 00, Denver, Colorado 80202, the f i nanc i al consultant to the City. The C i ty Coun ci l has expressly consented i n wr i t i ng t o author i ze Hanifen, Iahoff Inc., e i ther alone or wi th othe r s , t o subm it a b i d for the purchase of this iss ue of bond s . DATED a t Eng l ewood , Co l orad o , a s of the 28th day of Ju ne, 1982. ( S E A L ) ATTEST: /st Gar y R. Hi g bee Director of Fi nance, City of Englewo od, Colorado Publish in: Englewood Sentinel Publish on: June 30, 1982 /a/ Eugene L. Otis Mayor City of Englewood, Colorado -4- • I I • • I I I I I I I I ' • • - $472,600 CITY OF ENGLEWOOD, COLORADO PAVING DISTRICT NO. 28 SPECIAL ASSESSMENT BONDS Dated August 1, 1982 Due August 1, 1993 Principal and semiannual interest (February 1 and August 1, first coupon due February 1, 1983) payable at the First National Bank of Englewood, Englewood, Colorado. These bonds are subject to prior redemption in numerical order on any interest payment date upon thirty (30) days published notice at par and accrued interest. Denomination -$1,000 (Except Bond No. One -$600.00) Amount $162,600 85,000 65,000 45,000 45,000 35,000 35,000 Estimated Redemption Schedule Estimated Date of Payment 8-1-83 8-1-84 8-1-85 8-1-86 8-1-87 8-1-88 8-1-89 The above estimated payment dates are based upon the exp rience of redemption by the City and their accuracy is not guaranteed. SECURITY: These bonds are payable from th proceeds of special assessments to be levied against the property within the district specially benefited by the construction of the improvements. Unpaid assessments are certified to the Arapahoe County Treasurer for collection and paid at the rate of 1 / 1 O of th original assessment amount plus interest on the unp id bal nee annually. Property own rs hav the option of retiring the ass ssm nt early by paying th balanc of the ass ssments due plus int rest to th next int rest payment date. -5- • I • • • • - ADDITIONAL SECURITY: Section 108 of the City Charter, appro v ed bythe voters on July 21, 1958, and amended on Novembe r 6, 1 973 states: "Whenever a Public Improvement Distric t has paid and cancelled four-fifths (4/5) of its bonds outstanding, and f or any reason the remaining assessments are not paid in time to take up the final bonds of the district and interest thereon, then the City shall pay said bonds when due and interest due thereon and reimburse itself by collecting the unpaid assessments due s aid district". This covenant provides additional security for the payment of the principal of and interest on the bonds. This obligation as well as the City's pledge of all its lawful corporate powers are subject to : (a) the exercise by the United States of the powers delegated to it by the Federal Con stitution, including but not limited to the power to legislate on ba nkruptcy, and (b ) the reasonable exercise, in certain extraord i n a r y s itua - tions, of the sovereign police power of the State in the interest o f protecting the general welfare. PU RPOSE : The proceeds of t hese bonds will be us e d to pay the co sts o f i mprovements to be assessed agai n s t p r o perty own ers benef i ted in Paving Distric t No. 28. Al t hough improveme n ts vary bas e d on need in the benefited areas, generally t h e im p rovem e n t co sts include asphalt paving, sidewalk improvemen ts , c urb a n d gutter, and other related cos t s incidental to their i nst a lla t i o n. THE DISTRICT : Paving District No. 28 was established by Ordinance No. 22, Serles of 198 2 , finally adopted on May 1 7 , 198 2 . Th e Dis t ric t includes 60 2 parcel s of land, of which 58 5 or 9 7 .18% a r e im proved. The benefited proper t ies to b e assess ed a r e located through out the City and a re a ss e ssed for ta x purp o s es at $3,418,9 50 . To ta l estimated cost of t he pro j e ct i s $61 7,6 00, of which $145,000 wil l be assumed and paid by the Ci ty of Englewood. The remaining co s ts in the amount of $472 ,600 are to be assessed to the property owners . DESCRIPTION OF IMPROVEMENTS: The kind of improvem nts and the streets and avenues on which such improvem nts shall be construct- ed or installed shall be as follow a. Necessary gr ding and exc vation, p ving with 6" compacted gravel base cours nd 2" asph ltic concrete surface, (exc pt as not d t th end of th list of stre t) concr t walk , curb nd gutter where not pres ntly d qu t ; togeth r with appurt nanc sand incid ntals on the following str ets and avenu a: • I • • • • • ON FROM TO s. Acoma St. N. line Jefferson Ave. N. lin e Ke ny on Av e . s. Acoma St. s. line Kenyon Ave. N. line Lehigh Av e . s. Acoma St. s. line Lehigh Ave. N. line Mansfield Ave. s. Acoma St. s. line Mansfield Ave. N. line Nassau Ave. s. Acoma St. s. line Nassau Ave. N. line Oxford Ave. s. Acoma St. s. line Stanford Ave. N. line Tufts Ave. s. Logan St. s. line Yale Ave. s. line Amherst Ave. s. Logan St. s. line Amherst Ave. s. line Bates Ave. s. Logan St. s. line Bates Ave. s. line Corne 11 Ave • s. Logan St. s. line Cornell Ave. N. line Dartmouth Av e . w. Union Ave. E. line Decatur St. w. line of Clay St. The improvements constructed on So. Logan Street and Wes t Un ion Avenue will consist of an 8" compacted gravel base cours e a n d 3" asphaltic concrete surface ; the City will pay the d if feren c e in costs which exceed th e cost for 6 " base cours e a nd 2" asphalt surfac e , and the extra width c ost. b. Necessary replacement of walks, c urbs, an d gutters where not presently adequate ; t o g eth er wi th appurten a nces and other inciden ta l wo rk on the followin g s t r e ets and avenue s : ON FROM TO w. Rad c liff Dr. w. line of 3 1 70 & 3 1 73 w. line Federal Blvd . w. Ra dcliff Dr. w. Ch ena n go Av e . E. l i n e of Lowel l Blvd . w. lin of Irving St . w. St a n fo r d Av e . E. line Irving St . w. line Fed ral Blvd. w. Grand Ave . E. line Lowell Blvd. w. line Irving St . s . Acoma St . s . line Quincy Ave. N. lin Rade 11 ff Av e . w. Bellewood Dr. E. lin Irving St . w. lin F deral Blvd. w. Ch nango Av . E. lin F d ral Blvd. w. Un Dec tur St. w. Gr nd Av . E. lin Irving St. w. lin F d ral Blvd. w. Layton Ave. E. lin F d ral Blvd. w. lin Decatur St. w. Monmouth Av E. lin Irving St. w. line Fed r l Blvd. w. Pimlico Ave . E. lin Irving St . w. lin F der l Blvd . w. Saratoga Av . E. lin F d r 1 Blvd . w. lin D C St . w. Stanford Dr . s . lin St nford Av • w. line F d Blvd . w. T nforan Dr . E, lin F d ral Blvd. w. lin Dec St . I w. Tufte Av . E. lin Irving St. w. lin F d Blvd. • • w. Union Av . E. lin F d ral Blvd. E. lin D c St. -7 - • • - ASSESSED VALUATION DATA FOR PAVING DISTRICT NO. 28 Per ce nt Of Develoeed Parcels Assessed Valuation Total Number of Parcels-585 Valuation of Land $ 738,730 Valuation of Improvements 2,669,990 Total Assessed Valuation $3 ,408,720 99.7% Undeveloeed Parcels Number of Parcels-17 3 .0% Valuation of Land -$10,230 Tlro.rr% Average Principal Assessment Per Lot -$78 5 .05 CITY OF ENGLEWOOD, COLORADO HISTORY OF IMPROVEMENT DISTRICT BOND RETIREMENT Bo nd s Ret ired Paving Dist . No . 6 $250,000 bond s , i s sued 9 -1-5 6, retired 8 -1-62 Paving Dist . No . 7 2 15 ,000 bo nds, issued 8 -1-57 , retired 11-1-63 Paving Dist . No . 8 2 10,000 bonds, issued 9-1-5 8 , retired 9-1-64 Paving Dist . No . 9 215,000 bonds, iss ued 7-1-59, retired 6-1-65 Paving Dist . No . 10 230,000 bonds, issued 9-1-60, retired 5-1-66 Paving Dist . No . 11 250,000 bonds, issued 7-1-61, retired 6-1-69 Paving Dlst. No . 1 2 425,000 bonds, issued 7-1-62, retired 7-1-68 Sc nic View S w r Dist. 275,000 bonds, issued 4-1-63, retired 12-1 -71 Paving Dist. No. 13 330,000 bonds, issued 6-1-63, retired 6-1-69 Paving Dist . No. 14 250,000 bonds, issu d 6-1-64, retired 12-1-71 Paving Dist. No. 15 255,000 bonds, issued 7-1-65, retired 12-1-72 Paving Dist. No. 16 172,000 bonds, issued 6-1-66, retired 12-1-72 P ving Dist . No, 17 387,000 bonds, issued 6-1-6 8 , retired 12-1-75 P ving Dist. No. 18 245,000 bonds, issu d 6-1-69, retired 12-1-75 P ving Dist . No. 19 372,000 bonds, issu d 6-1-70, retired 6-1-74 Paving Di t . No . 20 427,000 bonds, issued 6-1-71, retir d 12-1-75 P ving Dist. No. 21 511,000 bonds, issu d 6-1-72, retired 12-1-76 P ving Dist. No, 23 No Bonds Issued • I J I • I I I I I I I I , • • - SPECIAL ASSESSMENT DISTRICT BONDS OUTSTANDING (As of January 1, 1981) Description Original Issue: Paving Paving Paving Paving Paving District District District District District No. 22 No. 24 No. 25 No. 26 No. 27 A!nount Date $473,000 $ 55,000 $767,100 $100,600 $297,386 8-1-80 8-1-81 $157,386 $140,000 Date of Last Call Retired a/o 1/1/80 Outst. 12/31/81 Period Over Which Assessments Remain to be Paid 6-1-75 6-1-77 12-1-81 12-1-81 $353,000 $ 30,000 $120,000 $ 25,000 5-1-78 12-1-81 $453,100 $314,000 6-1-80 12-1-81 $ 19,600 $81 ,0 00 3 yrs. 4 yrs. 6 yrs. 8 yrs. 8 yrs. Year Pavinf District 22 Prine pal Interest Pavinf District 24 Prine pal Interest Pavinf District 25 Prine pal Interest 1982 $10,071 $ 5,000 $1,31 3 $ 30,578 1983 10,071 5,000 1,050 30,578 1984 10,071 5,000 788 30,578 1985 10,071 5,000 525 30,578 1986 $120,000 5,036 5,000 263 30,578 1987 30,578 1988 30,578 1989 $314,000 30,578 1990 15,289 $120,000 $45,320 $25,000* $3,939 $314,000 $229,335 Paving District 26 Paving District 27 Downtown Imp. Dist. Year Principal Interest Principal Interest Principal Interest 1982 $ 9,706 $14,768 $138,880 $ 38,798 1983 8,551 $ 40,000 10,730 80,000 21, 713 1984 8,551 30,000 7,800 50,000 15,312 1985 8,551 30,000 5,504 40,000 11,213 1986 8,551 20,000 3,180 40,000 7,852 1987 8,551 20,000 1,600 25,000 4,413 1988 8,551 25,000 2,225 1989 8,551 1990 $81 !000 41275 $81,000 $73,838 $140,000* $43,582 $398,800* $101,526 *The maturity schedules demonstrated are estimated b s d on th historical repayment of city Sp ci 1 Ass ssment Bond • -9- • I . • • • • HISTORICAL SPECIAL ASSESSMENT COLLEC TIONS Percent Of Collect. Billed Curren t Current to Year Assessments Due Asessments Collect ed Amount Due 1978 $112,293 $118,333 105 % 1979 97,371 95,468 98% 1980 141,778 177,8 25 12 5% 1981 208,403 170,909 8 2% Information required for this table prior to 1978 is not readily available . CITY OF ENGLEWOOD GENERAL INFORMATION: The City of Englewood, Colorado, second largest city in Arapahoe County, is loca ted immediately adjacent to and directly south of the City and County of Denver, the State capital and population cen ter o f the State . Englewood, incorporated May 13, 1903, h as a present estimated population of 30,021, and ranks as the eighth largest city in Colorado. The City includes an area of 6. 92 square miles and serves an immediate trade area population of 100 ,00 0 in portions of Denver, Arapahoe, Jefferson and Douglas Counties . City Governme nt : Englewo od, incorporated in 1903, originally operated under a Mayor-City Council form of governm nt . The city government was changed in 1951 to the Council-Manager form of government . The City vot ed in July, 19 58 to be com a home rule city duly organized and existing under Arti cle XX of the State of Colo rado Constitution . Th Charter was adopt d with two main objective s : first, to reserv to the people of th City the abso- lute right and power of self-government under the horn rule provi- sions of the Constitution of the State of Colorado, to provide f o r the well being of all individu 1 , nd look forward to t he futur growth and development of th community . S c ond, to insure th orderly and economic adminiatr tiv offic r who is guid d and controlled by th p ople throu h th ir el ct d repr s nt tives. th Chart r overnment . Th -t - • I I • • I I I I • • • The Charter furthermore provides for a citizens Planning and Zoning Commission in addition to a Library Board, Board of Adjustments and Appeals, and Water and Sewer Board to assist, advise and direct the City Council in actions taken toward various city government functions. Climate: The topographic location of Englewood combines with its elevation to produce a clear, mild climate. The altitude of Englewood is 5, 306 feet. The surrounding land to the east is generally flat and rolls gently to the mountains on the south and west. Average annual precipitation is approximately 14 inches and the relative humidity is extremely low. The City averages approx- imately 296 days of sunshine with an average temperature of 50.5 degrees. Economy of the City: The economy of the City of Englewood is closely related to the economy of Metropolitan Denver. The City of Englewood is the hub of the south suburban trade area with complete business and professional services, A very high per- centage of the Englewood business establishments are concentrated along or adjacent to South Broadway Street, the principal north- south artery which flows directly into the Denver business dis- trict from Englewood's Cinderella City Shopping Center. There are approximately 2,000 business establishments in the City of Englewood at the present time, including five commercial banks with combined deposits in excess of $215,750,000. Industry : The City of Englewood is in the center of a commercial, manu factur ing and fabricating area that parallels the mainline railroad right of way that extends south from Denver. The City is served by the Denver Rio Grande Western, the Atchison, Topeka and Santa Fe, and the Colorado and Southern Railways. Light indus- trial and fabricating plants in or near the City include General Ironworks, Precision Tool, Air Control Products, Bingo King Company, Inc., Canada Dry Bottling Company, Lowdermilk Corpora- tion, Sealtest, Wilkerson Corp., and Friedman & Son, Inc. Manufacturing, which has a large impact on the economy of the State, is to a great extent centered in the Denver area. Nation- ally known industries include the Martin-Marietta Corp., manuf c- turer of various space exploration equipment, Schwayder Company, the Sundstrand Comp ny, Id l C ment Company, IBM Corpor ti o n, Rockwell International, Western Electric Company, Adolph Coor s Company, Johns-Manville Corpor tion and Anaconda Company. Federal Governm nt fact o r -11- • I . • • - Englewood is c alled t he "Carnation Ci ty" fo r one of its major industries, carnation gr owin g , which is c o nce ntrat e d in th e Den ve r Metropolitan Area. It is a mult i -million do ll a r indus t ry porducing 80,000,000 bloom s p er y ea r wi th 95% of them shipped to 43 states, Canada and Mex ic o. Also located within the City is Cinder e ll a City , a major s h op pin g center which contains 1,500,000 square f eet of r eta i l s p ace wi t h four major retailers located within the s t ruct ur e . Major Employers: Major employer s wi t hin En gle wood are: Ai r Control Products AMX Company, Inc. Bingo King Company, Inc. Burt Chevrolet Continental National Bank Denver Dry Goods Company Fab Tools, Inc. Fi rs t Nat i onal Ban k o f Englewood Friedman & Son , In c . Gener al Iro n Works Jo sl i n 's K-Mart Di s count Store Low dermilk Construction Co . Mar tin-Marietta Corporatio n Me c han i x Corporation Mi ller Sales Company Nationa l Camera Repair Sc h ool Nat k i n a n d Company Ne u ste t ers Partitions, Inc , T .A. Pels u e Company J .C. Penney Company Precision Tool Wilkerson Corporation Tran s port a t ion: The City of Englewood, situated adjacent to th Clty o f Den ver has excellent transpor ation facilities . The City i s se r ved by U.S . Highways 85 and 87, and State Highways 70, 87 an d 88. Four bus lines, including R gional Transportation Dis- t r ict , also serve the City . Rail s rvic is provided by mainline t r ack of th Denver Rio Grand W stern, th Atchison, Topeka and Sa n ta Fe and th Colorado and Southern Railways . In addition, n umerous interstate and intrastate ruck lin s are available . Twelve major airlin sand several couriers providing more than 250 daily flights from Stapleton Int rn tion l Airport serve the Denver M tropolitan Area. These airlin s includ Continental, Unit d, Fronti r, Western, Branif , TWA, North C ntral, Ozark, T xas Int rnational, M xicana, Delt nd Am rican Airlin s. Popul tion nd lncom : Englewood is -12- • I I D I • • I I I I • • - research industries which account for a very high percentage of college graduates living in the Englewood area. The 1980 financial report of the City reported the local median family income to be $17,128 and the average value of a single family home to be $63,000. General Information : The City of Englewood has more than 115 miles of paved streets and numerous off-street parking lots to accomodate suburban shoppers. The City is furnished electric power by the Public Service Company of Colorado and telephone service by Mountain Bell. 'There are nine elementary schools for grades one to six, two j unior high schools and one senior high school. In addition, there are denominational schools represen- ted. All major national civic organizations are represented in Englewood in addition to many fraternal and local service type groups. FINANCIAL STATEMENT (As of December 31, 1981) Actual Valuation, Estimated Assessed Valuation, 1980 (15 % of Act u al) General Obligation Outstanding Debt: Water Bonds Less Self Supporting Por tion Net General Obl i gation Outsta n ding De b t Sewer Revenue Bonds Special Assessment Bonds Lease /Purchase (Computer Eq uip .) Mortgage Installment No te Less : Self Supporting Po rtion $7,955,000 (7,955,000 ) $2,776,00 0 1,576,340 189,720 6 04 ,51 5 (5,1 4 6,57 5 ) Over lappin g Ge n era l Ob ligation Indebtednes s ** Total Direct and Overlapping Debt **OVERLAPPING INDEBTEDNESS Net D bt Percent Outstanding Aee licable School District #1 Englewood $ -0-41. 601 School District 15 Ch rry Cre k 9 2 ,097 ,000 1 .001 TOTAL -13- • $89 5 ,519,520 134 ,32 7,928 $ $ $ -0 - -0- 9 20 ,970 920,970 Amount Aee licable -0- 920 !970 920,970 ) I • • • • • • DEBT RATIOS Net Direct Debt to Assessed Valuation Ne t Direct Debt to Actual Valuation Net Direct and Overlapping Debt to Assessed Valuation Net Direct and Overlapping Debt to Actual Valuation Pe r Capita Assessed Valuation Per Capita Actual Valuation Per Capita Direct Debt Per Capita Direct & Overlapping Debt HISTORICAL ASSESSED VALUATION Arapahoe Year Englewood County 1972 75,361,893 384,252 ,850 197 3 80,868,470 4 72,587,880 1974 88,013,920 572,896,380 1975 93,671 ,539 672,041.878 1976 112,7 24,898 821,968,215 1977 120,307,408 90 4 ,050,740 1978 124,655,630 970,050,740 1979 128,329,250 1,068,750,510 1980 132,574,686 1,198,735,021 1981 134,327,928 1 ,448,572,3 10 .00% .00 % .69% • 10 % $4,474.47 $29,829.77 .oo $30.68 Englewood s. D. #1 66 ,234,550 7 0 ,84 5,2 9 0 77,3 3 2 ,5 50 81,020,007 86 ,16 3 ,9 48 10 2,744,200 10 5,87 0 ,300 107,843 ,66 0 110,986,379 111 ,335,4 88 DEB T REPAYMENT RECORD : The City of Englewoo d has a cl ea r record o f prompt payment of al l prin ci pal and in te rest on out s t anding obligat ion s . 1. 2 . 3 . 4 . 5 . 6. 7. 8. 9. 1 o. 19 8 1 ASSESSED VALU ATIO N OF THE TEN LA RGEST TAXPAY ERS IN THE CITY OF ENGLEWOOD Cap ital Alliance (C inderella Ci t y ) $5,837,190 Moun t ain Bell 4,848,700 Public Service Company of Colorado 2,538,000 General Iron Works 1,436,784 Wilkerson Corporation 1,386,730 First National Bank of Englewood 1,257,470 Hugo and Helen Olson 1,155,500 Englewood Joslin Store 1,054,090 Welbourne Investment Company 1,51 1,070 Kimberly-Woods-Denver, Ltd, 1,011,330 Source : Arapahoe County Assessor's Offic -14- 1 I I • • ' ' I SUMMARY Sewer Rev. and General Revenue Fiscal Obligation Refunding Year Bonds-Water Bonds 1982 $ 1,169,605 $ 451,981 1983 1,168 ,605 470,994 1984 960,205 460,271 1985 866,70 5 468,399 1986 847,505 468,876 1 987 83 0 ,40 5 461,664 1988 82 2,15 5 464,828 19 89 81 2 ,28 0 4 70 ,66 7 19 9 0 545 ,700 3 18,588 1991 545 ,000 305,250 1992 553,100 1993 554,400 1994 554,200 1995 567,500 1996 568,400 1997 397,500 $11,763,265 $4,341,518 • • • • OF DEBT SERVICE REQUIREMENTS TO MATURITY Golf Course Special Mortgage Use Tax Assessment Installment Revenue Bonds Bonds Note $ 75,317 $ 249,034 $ 58,720 79,900 207,693 58,720 81,300 158,100 58,720 82,100 141,442 58,720 82,300 240,460 58,720 76,900 90 , 142 58,720 82,17 5 66,354 58,720 81,53 8 337,840 58,720 80 ,237 85,275 58 ,720 8 3,250 58,720 5 8 ,72 0 58 ,720 5 8 ,720 58,720 5 8 ,720 58,720 $8 05,0 17 $1 ,57 6 ,340 $905,440 • 0 Computer Lease $ 95,722 89,761 86,062 82,362 78,663 $432,570 Total $ 2,100,379 2,075,673 1,804,658 1,699,728 1,776,524 1,51 7 ,8 3 1 1 ,494 ,2 32 1,761 ,0 45 1 ,088 ,520 99 2,220 611,8 20 613,120 612,920 626,220 627,120 422,140 $19,8 24,150 • - l I ... Ol I • Levy Collection Total Tax Year Year Levi 1972 1973 $321,048 1973 1974 349,415 1974 1975 652,891 1975 1976 789,074 1976 1977 842,152 1977 1978 872,589 1978 1979 769,976 1979 1980 795,448 1980 1981 818,479 • • • CITY OF ENGLEWOOD, COLORADO PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Current Col- lections as Delinquent Current Tax Percent of Tax Collections Current Levi Collections $320,855 99.94 ( 32) 349,284 99.96 473 651,327 99.76 87 771,827 97.81 184 835,216 99.18 1,557 869,648 99.66 2,234 765,452 99.41 4,069 790,400 99.37 4,241 813,840 99.43 3,854 0 Total Collections Total Tax as Percent of Collections Current Levi $320,823 99.93 349,757 100.01 651,414 99. 77 772,011 97.84 836,773 99.36 871,883 99.92 769,521 99.94 794,641 99.90 817,694 99.90 1) Taxes are levied on January 2 for collection in the following calendar year 2) Taxes are due and payable on January 2 and become delinquent for the first half payment on March 1, second half payment on August 1, or full payment on May 1 3) Penalties assessed after the delinqu nt date r 1/2 of 1% until August 1, 2/3 of 1% after August 1 4) After October 1, delinquent real estate is dv rtised for sale. 'nle tax sale is h ld about December 1 of each year 5) 'nle collecting agent is Arapaho r nd red. Coll ctions shown ar tions which r shown s actual County which r ceiv • a 1% collection fee for s rvic s n of th 1% collection f e, except for th 1973 collec- • • ' ' • • • Paving District ·· No.28 l ~. fJ1f~J11J1fIJ11f!I11 l~~,HHHHFtic::tiwi~~ Am""" ii"ii"'ii'")r,n Ou,ncy 1~~'i1Hnr-1nnm1nn Aodt .. ,, ?\l"ir'inr,, Stanlord Tufts • I . • ·- r I I I I I I I I I • I I • I I I I • • • I . • • •