HomeMy WebLinkAbout1971-05-24 (Recessed) Meeting Agenda Packet-
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Recessed City Council Meeting
May 24, 1971
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Introduced as a Bill by Councilman Kreiling
BY AUTHORITY
ORDJ NANCE NO. ~~ SERIES 1971
AN OR il HJANCE AUTHORIZING TilE ISSUANCE OF
C I 'J Y OF ENG LEWOOD, COL ORADO , PA VI NG DIS-
TR lCT NO. 20 BONDS:. PRESCRIBING THE FORM
Of' THE BONDS, AND PROVIDING FOR TH E PAY-
MENT OF THE BONDS AND TH E INTEREST TH EREON .
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WH EPi:/\S , for the purpose of constructing and insta ll-
ing certain stree t and alley improveme nts, together with n ece s-
sary incident al improvements, Paving District No. 20 in the City
of Englewood h a s been created by Ordinance No. __ 7 ___ Series 1971,
finally passe d and adopted on March ~ 1971; and
WHERI:As, Notice to Contractors to submit bids f or the
construction of the improvements in said Di strict has b een duly
published and the contract for such construc tion has been awarded
to Burks &_C.:...o.:....:.... :...• _I_n.:...c_. _______________________ _
of Denver, Colorado and
WHEREAS, Notice of Sale of $427,000 of bonds for said
District has been duly published and the contr ac t for the sale
of the bonds has been awarded to •The First National Bank of Enl(lewood
and The First National Bank of Denver ; and -------------------------------------------
WH EReAS , the City Council h as d etermined that the cost
of the con struction of improvements, together with necess ary in-
cidental costs, shall not exceed the a mount of $584.644.00 , and
that bonds of th e City for said District should be issued in the
amount of $427,000; and
WH EREAS, i t is now necessary lo provide for the issuance
o f said bonds and the form and payment ther eo f ;
BE 1'1 ' OHD /\I NEIJ BY TilE CITY COUNCIL OF THE CITY OF
ENGLEWOO D, COLOHADO:
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Se< t 1 ,., J . Hy ·,r irlue of antl f' 1, ,, 111: 1 r, th e Law s o f the
~1. .. ' : '-I I '• • l1t Ch.1 rter ~nd Chapt cJ I.; ·' ~ hl' ~l uni(.'J::'!il l Code
. ~ \ . he City b( Eng ll <, . ' >1 0 1 J clO , i n the prin-... . ~ ~ ,
) .t,.r,\, J ~4rl,OOO f o r Paving Di str (' t 20 in S il Jcl City,
;, '. Ul' 1..,.;.. f 0 r the purpose of payi ng f o: !c rl l improvemc n 5
t ~ be c onslt "' 1 • d in sa id Pa ving District . Th(· bo nd s s h all ~
da t d as of J:..•· 1 , 1971 , and shall consist of 427 bo n ds in t he,
d enomi n aL1 on o Sl,OOO ea c h, numbered 1 to 4 /7, 1nclusive . The
bonds shall be iJd y a ble to bearer and sh a l 1 b.._ J It' and payaul e on
June 1, 1982, sub ject to call and prior payment in d irec t numerical
or .. r on an y interest payment date, upo n p .1y•~•·nt o f p a r a nd <tccrued
· int.ereat. Notice of such prior redempti on s i.a ll be published in a
newepaper of general circulation in Englewo o d, one time at least
Lhirt.y (30) d <~ys •rlor to the date of r e d e ll'p tioll. In addition, a
copy of s uch Notice shall be mailed to the o rigi nal purch ase r of
~he Londs, at the tl.-of such publication.
Section J. Said bonds shall bea r int <:>rest as f'Vl ,!cnC'~d
by •a• coupons attac~d to said ~da, payaLlc o n June 1, 1 972 ,
and semi-annually thereafter on June 1 and Oe C'cmi.Je r 1, each yea.r,
as follows:
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Bond Nu-.bers Almunt Jnt t!re st Rate
1 to no, incl. $170,000 3 .40%
171 to 2)0, incl. 60,000 1 .70%
231 to 2 71, incl. U,OO O 4 .00%
274 to 107, incl. 34,00 0 .:. . 25 %
lOS to 341, incl. 34 '00 0 4. 50 %
342 to 371, incl. 30,0 00 4 . 75%
372 to 401, incl. 30,000 5 .00%
402 to U7, incl. 26,000 5.00%
In addition to the •A• interest rate Sf·l fort h a lx•ve,
aaid ~n ds shall bear additional interest as evidenced Ly ~ pple-
-n~al coupons desi9nated •a• payable on __ J wnc 1 . 1272
-----------' at the rate &r\d for t !•·' J •Ct iod from
AI&, ... 1811 to the da les indic ate d l.J~,.J c•.,•, A!j follows :
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Int e r e st Hat e
"B"
J n tere s t To
Fr o m To
]i]"77 J 6/ I I 72
Th e n et e f f ective interes t r a te of this issue
of bonds is ___ J_._l_s ___ , p e r annum.
Th e p r incipal of and intere st on s aid bonds shall
be pay a bl e at t he' First National Bank o f l:nglcw o d , in Engl e wood,
ColorNo.
Said bonds shall be signed w ~th t h e f~csimi le sig-
nature of the Mayor, sealed with a facsimile of the seal of said
C .... ettested and countersigned with the man u al signature of the
Director of Finance, ex-officio City Clerk , and t he interest coupons
atteched thereto llhall be signed with the fa c·s imile signature of .
the Director of Pifta.ce. When issued as aforesaid as part of said
boftla, the intereat coupons shall ~ the binding obligations of ..
tbe City accordint to '·their illpOrt.
Sbould any officer whose manual or facsiMile
aignature appeara oa aatd bonds or the intere st coupons attached
thereto cease to be such officer before deliver y of the bonds to
the ,..ehaaer, ~ ..... 1 or facsiaile signa tu re shall neverthe-
less be v alid ... •Uicient for all pur pos<·r..
Section). ~bonds and int res t coupons to be a t ta c hed
~to sh a ll be in subatantially the followinq !orm:
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(1 o.Lm of Dun
UNl TI.IJ S'I'ATJ.:S OF A ~· I • ('i\
CI TY OF ·ENGLEWOO J>
PAVIN G DI$'I'HICT NO . 20
BOND
CCi v:,TY OF ARA PAHOE
S J , r •O
The C'1 Ly of Englewood, in the Co uz Ly c f Ar ilp ahoe and
St dt e o f Co lorn d o , for value received, h ereby pr,misc s to pay
t n the b ear l!r h L'r eof, out of the special fund o r funds her e1 n-
after de sig nated but not otherwise, the pr i ncipa l sum of
ONE THOUSAND DOLLARS
1.n lawful money of the United States of Am c .ri c a, on the lat day
of June, 1982, with interest ~hereon as evid e nced by i ntere~t
.. r centum _____ t) per annum fro11 date un til payment , payable
Clll J .... 1, 1972, ... eeai-annually thereaftc·r on the lst ~Y or
June end the 1st day of Dec .... r, each year, an~ additionAl in -
~er~ as evidenced by iater .. t coupons designa•ed "8. at the rate
of -------------------------------per centu• ( ________ t) per annu.
for the period f~
cluai .. , payable on
1, 1971 to 1, lt , in-
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both ..-incipal ... iater•t tteU.. payable at thc-First National Bank
of the thia Bond u~ th y severally becOMe tue
• an called for pa,..nt.
This lond ia a~ject to call and redemption in direct
..... ica1 order of ~ i .. ue of which it is one, on any int~reat
date, upoa ,.,_.nt of par end accrued interest to the date
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c·f r.: <'IH!J iun, upo n not:l CL p ub li s h ed 1n a n r-•,,spap(!r o f g c n r a l
Clt<'•·"ll :. i n tl• c .•i of Engl e wo o d, Col>rtrl r;,ac, mo r e par icu larly
5 ( t J ' • l !l l I :• , t t.:HlCC au tho r izing tills n , :t,l.
1'1ll !i Fl d i . iss u e d fo~ Lh e p ur p c,s c o f p ayin g Lh C' costa
o co .s lr uc ti n ~ nd i n st a lling street a n d all e y I mp r ove ments in
P a v ·ny !li s t r ic · Nc •• 20 , in t h e City of Engl c ~->·oo d , Co l o rado, by
virtu e o f a n d 111 f u ll c o nformity with the Cons titution and Laws
of th~ St at e o f <ulorado, the Charter of said City, Chapter 14
of the Muni c ip a l Co d e , and an Ordinance of the City duly ado pted,
approved, published and made a law of said City prior to the is-
This Bond and the interest thereon are payable solely
out of the proceeds of special assessments to be levied u~n real
eetate eituated in the City of Englewood, Col o rad o , in Pavin9 Dis-
trict No. 20, specially benefited by •aid improvements, which as-
...... nts so to be levied, with accrued intcteat, will be liens on
said real estate ia the respective amounts ~o be apportioned there-
to a.d assessed by an ordinance of •. the City, and, if neceaNry,
fro. the Surplus and Deficiency F~nd heretofore created pursu.nt
to the Charter of Mid City.
The Charter of said City provides: "Whenever a p~lic
i~ro~nt district has paid and cancelled four-fifths of its
bonds outstandi,.., and for any reason th e remaini n 9 assesa-nta
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ere not paid in U.e t:o take up the fin al bonds o f. 'the Dist r in
&Dt interest due thereon, and there is n o t ~uff ic ient money 1n
ee1• special surplus and deficiency fund, then the Ci Ly sh .tll pay
Ni• bonds when ~ue and interest due th e reo r •nd r~imburs• i t self
by ool&ec t ing the unpaid asseas•nts due &ai d di s tricL•.
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is h•·t c b y cer ~ificd and .r cci ted th th e tot c~l i ssue
o f b nwb of lhc· City f ur s.J id Dist ri ct , inc l ud in thi s Bond, does
ll < l ('XCl '• I tl ' r.t ;:.u tho ri z eq by l aw ; h -1t every r e quir e ment
of 1 ' rt l<~L.. '• tt ll e c r ea tion 'of Pa ving ,D i s t rict No . 20, the
con st rue i o n u: s 1d loca l improve men t s a nd th issuance of this
Bo"l d ha s b cl.'r ful l y comp l i ed with by the pr o p e r off i c ers of ••id
C1ty, an d that a l l conditions required to ex i st and things r•·
quire d t o b e d o nti precedent to and in the issuance of this Bond
t o r~n der the same lawful and valid, have hap pe ne d, been properly
don e and p e rformed, and did exist in regular and due time, form
and .. nne r, as required by law.
For the payment of this Bond and the ·interest ther e on,
~ City pledges all of its lawful corporate powers.
IN TESTIMONY WHERBOF, the City of Englewood ha& caueed
~ia IOftd to be aiwaed with the facsimile signature of ita Mayor,
atteated and c o untersigned by the .. nual signature of the Director
of Pinaace, seal .. with a facai.!le of the corporate seal of the
City, and the interest coupons attached hereto to be sitned with
the facsimile aiwnature of the Dir~or of Finance, as of the lat
day of June, 1171.
(FACSIIIJLE)
(SEAL)
A'I'TI:S'I'ED AN D Cowrn:RSIGIIED:
(Do not ·'rr> Director o fnance
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CITY OF ENG LEWOOD, COI.a.ADO
By: (Facsi•ile SignatureJ Mayo~ ._ __ __
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(Form of Co upo n )
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.·Jun e ,
On •,. J!,• d .:t y of Dec::ember , 19 , lhc City o f tn glewood,
in l h ~ Co un } ~f Arct ahoe and St ate of Colord d o , will pa y t o the
~art •r th e dn 'o l s hown h ereon in l awful monc>y o f t h e Unite cl States
of Am erico, e1t t he F ir st Nat i ona l Ba nk o f l::ngl C'wood, in Eng l ewood,
Co l o rad o , b eing in t ere st the n due on its J ocil l i:n pro vement bond
issu e d fo r lhC' con struction of local impro v em e nts in Paving Di•-
trict No . 20, t.n glewood, Colorado, provided the Bond to whi c h th1•
co~n i s attached shall not have been theretofore called f o r pay-
-•t or p ai d. Attached to Bond dated Jun e · 1, 1971, bearing
liD.
(Facsimil e Signatur~)
Dir e ctor of FinAne~
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s c l <..>n 4 . The proceeds of said bon ds shall be applied
only to pay t h costs and expenses of constructing the i~rove-
ment a i n s aid 0 1 strict and all other costs and expenses inc~nt
theret o . ln th 0 •vent that all of the proceeds of said bon~ are
not r e quired to pay such costs and expenses, any remaining a8Dunt
shall be paid into the special aasesa.ent fund for the p~rpose of
calling in and paying the principal of and interest on said bonds.
Neither the purchaser of said bonds nor the subsequent h9lder of
any ef them shall be responsible for the appli~ation or disposal
~ the City or any of its officers of the funds derived fra. the
sale thereof.
The proceeds of the bonds her•in authorised shall
be used only for the purpo .. s recited above ; provided, ha.ever, that
any portion of t~ bend proceeds .. , be te~rarily invested pend-
in9 such use in .. cuzities or obli9ations ~hich are la~ful invest-
.. nt8 for municipalities in the ~ate of Colorado. The t..,e«ary
invest.-.ent of the bond proceeda, or any portion thereof, shall be
of such nature and extent, and for such period, that the ~•s of
the City
.... law of Section l03(d) of the lntern.l Revenue Code, and per-
tin.-t regulatioas, and such proceeds, l( so invested, _..11 be
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subject to the laaitations and restrict .ons o' said Section lOl(d)
(•), as the sa .. now exists or asy lat~r be aaended, and shall
tvther be suuj ect to any applicable r gulations of the Internal
.. venue Service.
Section 5. Said bonds and the inter est thereon shall be
pal• .al ely from sax:ci•l asMs-n~s to be lcVlt!d on the rf'al prop-
erty in said Jl istrict spe ci ally ~11 fi t Pd by ~, construct ion of
improvcm n s ·h ·n·in, and from the Spc ci.tl ~.,, Jus and Dt:fJ c iency
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f lJ'lt1 (1f lLt ( tJ ·'ih v n there i's on hand a sufficient a1110unt
t v p ct y :;1>. 1 hs l n tere st on outstanding bonds of said Diatrict,
thP t'1.ty !;h oll c-.11J for p a yment, on the next interest pa)'81ent
d<~U, ou s t il'• !.n•J u o nds in direct numerical o -r der with funds
a vai l abl t. U wref or.
S c1iun 6. After the expiration of the period for caah
payments of as se s s ments in full, the City shall, to the extent
possibl e , pay each year not less than lOt of the total ••unt of
bond• of said Distri c t outstanding after the pay~nt of the bonds
wllh the p rocee ds o[ such cash payments of' assessments in full.
Section 7. That in accordance with S•·ction 188 of the
Charter of sa1d Ci ty, whenever there is a defic ,ency in the fund
of said Impro v~~cnt District to meet payment of outstanding bonds
and interest thereon, auch deficiency ahall be paid out of the
special surplu11 .snd deficiency fund of sa HI Cl ·.y. Whenew r the
District has paid and cancelled f~ur -fi!ths o • t he bonds iss ~•d
therefor and for any ·reason the remaining aes~ssments are not paid
in time to t~ke up th~ final bonds of the Di1~rict and intere&t
due th•rc>on, a n d the re is not sufficient 110n r in said spe~.. ~ l
aurplue and deficiency fund, then the City ~hal l pay said L<•nd s
WO l l due and i n tt>r~!I L thereon and reimbU!'St ' f'lf by collect • "9
tht' unpaid asAcs~~nts due said Distri ct .
SecliH • 8. If it shal1 be n u.:• s~ .• ry to fldvanc rn< n 1 to
-•·1 tain cun <mt payment" o f intere st an ,! r qu d 1 a r. mal pa yr 1 nt ;; of
lh• p ri iiCl!Jo.J] ctln • o.lll l u f th ,, bond · iasuc>u f r b,JJ l Oist r h , • lit'
C1ty ~~ 11-:i J s t. .. ll l t'l.}' annual t axc ·s on th•
in thf> C1ty nu l l"~:c-,·~.·d in g two m1 lls tn an~
the pr~C•'• ~ . Cll ,,, ,, t itY .• for •-a id pu1 :'''~ '~
l eviv s,· t ,,. C' t': 'l,l 1n-1y •• nr.u;ll I 1 tran :-f •
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available money of the City, but in no event shall the amount
tra nsf e rr e d in a ny one year exceed the amount which would r e sult
fr om a tax levjcd in such year as here in limite d. Such t ax levies
or tran sfers of f unds shall be made in accord ance with and pursuant
.to section 109 of the Charter of the City.
Section 9. All ordinances, or parts there of in conflict
herewith are hereby repealed. This Ordinance , after its final
passage , shall be recorded in a book kept for that purpos e , shall
be authenticated by the signatures of the Mayor and Director of
Finance, ex-officio City Clerk, and shall be published in a news-
paper having general circulation in the City.
Section 10. 'i'hat if any one or more parts . or provisions
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of this Ordinance should be judicially adjudged invalid or unenforce-·
able, such judgment shall not affect or impair the remai~ing pro-
visions her e of, the intention being that each of the provisions
hereof are severable.
Introduced, read in full and passed on first rea d ing this
lOth day of 'May, 1971.
Published aa a Bill for an OTdinance this 12th day of May,
1971.
day of
Re~d by title and passed on final reading on the
... I / t , 1971.
1 ' Pu~;tahed by title as OTdinance No. I L• , Series of 1971
,... ! -day of )!...,,.1/ , 1971. on the
I, Steph e n A. Lyon, do hereby certify that the above a nd
foregoing ia a true, accurate, and complete copy of an Ordinance
passed on final r eading and published by title as Ordinan ce No.
~· Series of 1971 •
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It wa s Lhe t·e u p o n moved by Coun c i l lil .Jn
th a l the for egoi ng
Bt l l for a n Olll l'l d ll -:,, introducE;!.d and read in full at this mcetinq
as af o t e said , b L publi shed in full in The Englewood Herald, a news-
paper 0 f g e n 0 1 ••• c irculation published in Englewoo d, Colorado , in
its 1s s ue of M·•Y 5, 1971, and that said Ordinance , after its pub-
lication as aforesaid, be considered for final passage at a regular
meetinq of the City Council to be held on Mond ay , the 17th day of
May, 1971.
The question being upon the adoption of said .ot ion, the
roll ... called with the followin9 result:
Those voting AYE:
Tho.. vot int IIAY:
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Elmer E. Schwa b
Howard Brown
Dallas Dhori ty
~n c. Kreiling
.John Lay
Richard Lone
' Milton lenti
1181111:1er• of the Ci tr Co~mcil pr·esent havin9 votecl
in fa~ of saLI ~tiea, the pceaidln9 officer thereupon declared
eaid ~ion carwl .. and directed that the lill for.an Ordinance be
There.,on, after consideration of other business t o co ..
...... the Council, the .. etin9 was ad )o urneo.
{ --I t..z. I
(I 8 A L ) Mayor
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ex-officio City <ferk
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Schwa b
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ROLL CALL
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ROLL CALL
Schwab
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OF~='ICI-z:ll
OFFICIAL: ern COU CJL DOCUMENll r. .. '1 r~; T O
COU 'CI L t ,,~ •'-<i A LE
CIT"t OF" E:NGLEWooQ. COLD.
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Introduced as a Bill by councilman
BY AUTHORITY
..._ r r
Kreiling
ORDINANCE NO. ~, SERIES 1971
AN ORill NANCE AUTHORIZING 'J.'IIE ISSUANCE OF
CI TY OF ENGLEWOOD, COLORADO, PAVING DIS-
TRI CT NO. 20 BONDS;. PRESCRIBING THE FORM
OF THE BONDS, AND PROVIDING FOR TH E PAY-
MEN T OF THE BONDS AND THE INTERE ST THERE ON .
WH E~EAS , for the purpose of constructing and install-
ing certain s tr eet and alley improve ments, together with neces-
sary incidental improvements, Paving District No. 20 in the City
of Englewood has been created by Ordinance No. 7 Series 1971,
finally passed and adopted on March ~ 1971; and
WHEREAS, Notice to Contractors to submit bids for the
construction of the improvements in said District has been duly
published and the contract for such construction has been awarded
to Burks & Co. , Inc.
of Denver, Colorado and
WHEREAS, Notice of Sale of $427,000 of bonds for said
District has been duly published and the contract for the sale
of the bonds has been awarded to •The Firat National Bank of Englewood
a_n_d __ T_h_e_F_i_r_s_t __ N_a_t_i_o_n_a_l __ Ban __ k __ o_f __ D_e_n_v_•_r ____________________________ ; and
WHEREAS, the City Council has determined that the cost
of the cons truction of improvements, together with n ecessary in-
cide ntal costs, shall not exceed the amount of $584.644.00 , and
that bonds of the City for said District should b' issued in the
amount of $427,000; and
WII EHEAS , it is now necessary to provide for the issuanc
of said bonds and the form and payment thereof;
BE IT ORDAINED BY THE CITY COUNCIL OF TilE CITY OF
ENGLEW OOD, COLORADO:
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SeC' ' ··-l . Ry ir l uc o( and r · !'. 1 11.' 10 th e Law.,: o f the
~r..•! \.. 1 , ''1 Ch,nlcr i!nd Chu l cJ J.; (r 'ht• ~\uni 1pa l Code
{ f t t \. lty, '' •.I the City b( Englt.•\, ! , .. .Jcn do , i n Lhe prin-
$4'.!.'1 ,000 f o r Paving Oistri r·t ._,. 20 in S illt Cit.y,
for the purpose of p aying f0 : lo·· •l improvem c•n s
t v h (• CO!Ylru • d in s aid Paving Di strict. Th(• l.Jo nd s sh a ll ~~
dated as of J u r" l, 1971, and shall consist of 4 27 b o n ds in the
d enom inat ion of Sl,OOO each , numbered 1 to 4 L7 , 1nclusive. The
bonds shall be pa yable to bearer and shal j b .. d ul' and paya b le on
June 1, 1982, s u b ject to call and prior pa yment in direct numerical
or .. • on any interest payment date, upo n p<~y ~··nt of par a nd accrued
· int.ere•t. Noti ce of such prior redemption 'sha ll be published in a
~aper of 9eneral circulation in En9lewood , on e time at least
t.hiaty (30) days prior to the date of r e demption . In addition, a
copy of s uch No'tice shall be mailed to the o rt ginal purchaser of
~he bonds, at the tl .. of such publication.
Section 2. Said bonds •hall b e a r' inte rest as •v•.!cnred
by •a• coupone attac~d to •aid ~d•, paya b l~ o n June 1, 1972,
and •••1-annually thereafter on June 1 and Dccem~e r 1, each year,
•• follows:
•A•
Bond lh111ber• A!RWlt Int eres t Rate
l to 171, iDel. tl70,000 3.40%
171 to 2M, incl. 60,00 0 h70%
231 to :.UJ, incl. U,OOO 4.00%
274 to 1e1. incl. 34,00 0 .... 25 %
308 t o 3el, incl. 34,00 0 1..50
342 to 371, incl. 30,00 0 4. 75%
372 to 401, incl. 30,000 ).00%
402 to 427, incl. 26,00 0 5.00%
In addition to the •A• interest r~t~ sc f orth al.x ve,
aaicl ~ds s hall bear additional inter &t as <'v i.clenced by s pple-
.. nul coupons desi9nated •a• payab~e on J vo-.~ •. .....,.12il..7u2.___ -·--
-----------' 11l the rate al\d for j•C I IOd from
w, a, 11111 to the dal es indicat d L· '•, • !:. follo\ls:
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) t 1 li t: l.
t ~4 '.-H-.. •-+l -..-i .
;>~-\,&--.1:,...,-....... ~ .
;!.:f-4--\o&--•'1 ; ,--trl+t'~.
108--l=tt--:Hh -~!.
H ..;o.-1:& ...;.,_h -~1-.
3 -.:f~-t-e--4-\H 7 --i-tte!.
•*~&--'tt•;-~i.
''B'•
Inte r s l
3 .~5%
0
Rate
UB ''
1n te r es To
From Tc-
7i]7 7l 67 1 '72
Th • n e t e ff e ctive intere s t r u t e o f th i s is s ue
of bonds is ___ 1_._2_5 ___ , p e r annum.
The pr ~n c ipal of and interest o n s ai d bo nds sha ll
be pay .1bl e a l th ~' First National Bank of l;n g l c woo tl , in En9 lewood,
ColorMo.
Said bonds shall be siqned w ~t h the f~csiaile sig-
nature of the Ma yor, sealed with a facsim i l e o f the s e al of said
Cia,. attested and countersiqned with the manual signature of the
Director of Finance, ex-officio City Clerk, a nd the interest coupons
attached thereto ehall be si9ned with the fa c simile signature of .
the Director of Fiaaaoe. When issued as af~resaid as part of said
~ •• the interest COQpons shall ~e the binding obligations of
the City accordinCJ to .·their i111p0rt ·.
Should any officer whose manual or facsi•il e
si9nature appearl on .. 14 bonds or the inte r e st coupons attached
thereto cease to be such officer bafore del i ve r y of the bonds to
the .-wohaser, ~ .anual or facsiaile signat u r e shall neverthe-
les s be valid aM eufficient for all pur p(•S"!'.
Section ). 7he bonds and int er~s t cou ~o n s to be a l tft c hed
~to sha ll be in •ubstantially the foll o wi ng fo rm:
\
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(Form of Do ndl
ll !'H T ED STATES OF A'\1 I ' Itt\
CI TY OF £NGL EW001l
PAV IN G DI ~THICT NO . 20
BOND
l'tl " , Y OF ARA P II HOE
Nr $1 '0 0
'l 'hc C l t y of Englewood, in the Co unty o f Ar apa hoe and
St d te of Color a d 0 , for value receive d, h e reby pr o mis e s t o p~y
to the b e arer b r·r cof, out of the special fund or funds her P !n-
after designat e d but not otherwise, the prin ci p a l sum of
ONE THOUSAND DOLLARS
ia lawful money of the United States of Am cri ~a , on the l5t day
of .,._., 1982, with intereat .thereon as evidC'nc cd by intereat
cuupDRe designated •A• at t~ rate of
per centum _____ t) per annwn froat data t•n t il payment, payable
OD JUAe 1, 1972, aad ..-!-annually thereafter on the 1st day of
Jaae ~d the 1st day of Dece.m.r, each year·, ant' additionAl in-
~ereet as evidenced by iatere8t coupona design~•ed "B" at t~e rate
of per centu111 ( ____ t) per •nu.
for the period fra. 1, lt71 to 1, 19_, in-
elusive, payable on
both ,cincipal and intere•t belftt payable at th P First National Bank
of Eftllewood, ~ ... lewood, Colorado, upon prea~n tation aftd aurrender
of the attach .. GOlJf8ft8 and thia Bond a s t h y "(·v crally be come due
ec are calle d for pa,.ent •
This Bond is aubject to call and rC'dem pt i on in dir•c t
•-~leal order of the iaaue of which it is one, on any intl'rest
,.,_... date, u~ par-ent of par and accrued interest to thP. date
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, ~ r. l•'mp J .r., "·'(J!l rH• ic~ pu l>l ishcd in <J ra • •·S !.:l ~, r o f g c n<'ra l
c l t .. , 1 <t .. (;:I in C1 t y o f En g l e wo od , Col e r .trl ,, ,1s mot·c par i cu larly
s c' : 1 ' ', J :1 t I. '•r . 1 "'1nc0 au thor izing t hJ <. r,, ·:• l .
'J'hJ s :•. d t s i s sue d fo r; t h e pur p t,s e o f payi n g t he co s ts
of con sl! u ct in q nd instal li n g street and a ll e y l mp r o veme nt s in
Pav rn'ol lli str i c" N<•. 20 , i n the City of Engl c;..•ood, Co lo rado, by
virtue o f and "' full c on f ormity with t he Co n s tit ut ion and wwa
o f th e State o l Col orado, the Charter of said City, Chapter 14
of th e Mu n icipa l Co d e , ·and an Ordinance of the City duly adopted,
approved, pu b li s h ed and made a law of said Ci ty prior to the ia-
auanc:w he reof.
Th i s Bond and the interest thereon. are payable solely
~t of the p r oc ee ~s of special assessments to be levied u~n real
eatate •itua ted in the City of Englewood, Colorado, in Pavin9 Dis-
trict No. 2 0 , spec ially benefited by said improve me nts, whi c h as-
.. s ... nts so to be lewied, with accrued inter e st, will be liene on
said real estate i• the respective a1110unts t,o be apportioned there-
to ...S assessed by an ordinance of •-the City, and, if necessary,
fro• the Surplus and Deficiency r~nd heretofore created pursuant
to the Charter of .. id City.
The Charter of said City provid es: "Whenever a pull! ac
i~rove .. nt district has paid and cancelled f o ur-fi fths of its
bond• outstandi~, ... for any reason the rema i n i n q a s sess~n~~
'
are not paid i n ti.e ·to take up the fi nal t.n nd of. 'the Distr ict
and interest due thereon, and there is no t ~ufficie nt mon e y 1n
aaid special surplus and deficiency fun d , then the Ci ty sh ~ll pay
..,. bond s when due and interest due the re on and re imb ur s e 1 t self
by collect i ng the wapaid aaaea ... nts du e saitl d istrict ".
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lt i s ht ·rt'by cer~if ied and r ci t ed that t he tot ed issue
o f b onds o f th e· Ci y f o r sai d Distri ct , includinJ this Bond, does
n o t c·.,,.,, d Lh L· ··•·o .. nt au th o ri zeq by law; h'l t r~ver y re quir e me nt
of l<n• r >la 1: '• o the crea tion 'o f Pavin g pis trict No. 20, the
con st ru e i on o t a1.d l ocal improvements and the issuance of this
Bon d has b el•n f u J ly compl ied with by the p roper offi cer s of aeid
City, and tha t all conditions require d to exist and things r•-
q ui red to be d o ne precedent to and in the issuance of this Bond
to render th e same lawful and valid, have happened, been properly
done and p e rformed, and did exist in· regular and due time, for•
end .. nn cr , as required by law.
For the payment of this Bond and the ·interest there on,
~ City pledges ell of its lawful corporate powers •
IN TESTIMONY WHEREOF, the City of Englewood haa caused
~1• lond to be sitaed with the facsimile signature of ite MAyor,
atteeted and co~tersigned by the manual signature of the Director
of Plnance, seal .. with a facsimile of the corporate seal of the
City, and the interest coupons attached hereto to be signed with
the faceimile eitnature of the Dir ,~tor of Finance, as of the 1st
day of June, 1171.
(FACSIJtiLE)
(SaAL)
AHESTED AND COUIWERSIGRED:
CITY OF ENGLEWOOD, COLORADO
By: (Fecsiaile Signatur~l
Mayo~ ------
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(Form of Coupon) .. A
Nv. H $
$
On t tw b
. "June,
da y of Dec:ember, 19 he City of EnCJlewood,
i n t h~ Co un ty J f Ardp a h oe and State of Colorado , will pay to the
bE>ar r the a m,. !I t shown he reon in lawfu l mone y of the United States
of Am erica , a t the First National Bank of Englewood, in Eng l ewood,
Col orado , being interest then due on its local improvement bond
issued for the consttuction of local improvemen ts in Paving Dis-
trict No. 20, Englewood, Colorado, provided the Bond to which this
COYPOn is attache~ shall not have been theretofore called for pay-
_, oc paid. Attached to Bond dated June· 1, 1971, bearing
liD.
(Facsi mi le Signature)
Director of Finance
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Se c:• 1< n 4 . 1'h e proceeds of sa id bon ds shall be applied
only to pa y t h•• costs and expensea of constructing the i .. rove-
me nta in s a i d Dist ri c t and all other costs and expenses incident
t here t o . In h e· event that all of the proceeds of said bonda are
no t r e q ui r e d to pay such coats and expenses, any remaining a.,unt
shall be paid into the special assessaent fund for the purpoae of
ca lling in a nd p aying'. the principal of and interest on aaid bonds.
Neither the purchaser of said bonds nor the aubaequent hQlder of
any of them shall ·be reaponsibJe for the appli~ation or diaposal
~ the City or any of ita officers of the funds derived fr~ the
?he proceeds of the bonds herein authoriaed shall
, .
be used only for the purpose• recited above; provided, however, that
any portion of tbe bond proceeds .ay be teNpararily invested pend-
int such use in securities or obligations ~hich are lawful lnveat-
.. nts for municipalitiea in the 9tate of Colorado. The t.-porary .
inv.st .. nt of the bond proceeda, or any portion thereof, shall be
of such nature and extent, and for such period, that the ~•• of
the City shall not be or beco .. arbitrage bonds within the
.. anin9 of Section lOJ(d) of the Internal Reven ue Code, and par-
tinent regulations, and such proceeds, 1 f s o inve,sted, ahall lila
aubject to the ll•itationa and restrict .ons o f said Section lOJ(d)
(4), as the sane now ex i sts or may lat~r be a .. nded, and shall
fvrther be suuject to a ny applicable r 'gulations of the Internal
aevenue service.
Section 5. Said bonds and the intere s t thereon ~hall be
pai• ~M>l el y from spt.:cial asaes ... n~& to be lcv tcd on the real prop-
erty in said ll istrict specially be11 ·(ited b y t t constr uction of
improvements 'hf-rc•in, and from thE' Spc c i u l ~, 1·los a nd Dct.i ciency
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, t,. Wr 0 n there i's on ha nd a s uf ficient a1110unt
t l p n y s l >: '' •.t hs inte r e st on outstanding bonds of said District,
t ht> C i ty s h " l c .1 lJ for payment, on the next interest payn~ent
d .t <, ouL!>l c~:t•'l :"J uo nds in direct numerical order with funda
a v aJ t abJ c L h!.!I c for .
SP cl i u n 6. After the expiration of the period for cash
p a y mcnt s of a sse ssments i n full, the City shall , to the extent
possibl , pay ea ch year not less than lOt of the total aMOunt of
bonds of said District outstanding after the pay~nt of the bonds
Wllh the proc t>c ds o( such cash payments o( assessments in full.
Section 7. That in accordance with Stction l!t8 of the
,·l'l•rter of s a1d City, whenever there is a dP.fic Lency in the fund
of said I mpr ov •. ·ment District to meet paymen t of outstandi ng bonds
and interest thereon, such deficiency shall be paid out of the
spec i al surplu!> and deficiency fund of sai" Ci ·.y. Whenev.-r t he
Distric t has paid and cancelled f'qur-fifths o• the bonds iss ued
thetefor and for any 'reason the remaining aaa.,ssments are not paid
in time to lake ''P thE' final bonds of the Db t ri ct and int~r est
due tl1ereon, and there is not sufficient IliOn r in said spe, ..-11
surplus and deficiency fund, then the City f-h it l l ;:>a y said bond .·
when due and i r.t<'res t thereon and rei mburs, l f '>Pl f by colh•<-1 •·1 9
tho' unp aid as~catli'ICnts due said Oistri <·•.
Section 8. If it shalJ be n <..c,•ss.try to -1dvancc lll(>n l / to
.. lntain current payment s o f interest d ll<l f <JUdl <H,JUoJ l payr;o<nt ;. of
tho principdJ rlm • "'''t u f the bond ,. iasu C'd f r ~.1 1 ! Distri ct , • hc
Cily Coun,:il s hed l l f' y annual t tlCCS on th• tax <'h c propcr t y with-
in the Ci Ly not P>:c-• • ding two m1 lltr in ar ,~ c..lt,
th e PI<;>C•'•<~; Ctf !"';,lit>; s for •.aid ·pu q v,!
l evie s,' t J. .. Ct•tL :t·~ J 11'·1;.' :.r,r.t:.1] J / tran : f ·. 1
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available money of the City, but in no event shall the amount
transferred in any one year exceed the amount which would result
from a tax levied in such year as herein limited. Such tax levies
or transfers of funds shall be made in accordance with and pursuant
to Section 109 of the Charter of the City.
Section 9. All ordinances, or parts thereof in conflict
herewith are hereby repealed. This Ordinance, after its final
passage, shall be recorded in a book kept for that purpose, shall
be authenticated by the signatures of the Mayor and Director of
Finance, ex-officio City Clerk, and shall be published in a news-
paper having general circulation in the City.
Section 10. That if any one or more parts .or provisions
of this Ordinan ce should be judicially adjudged invalid 01 unenforce-.
able, such judgment shall not affect or impair the remainin g pro-
visions hereof, ~he intention being that each of the provi s ions
hereof ~re seve~able.
Int rodu ced, read in full and passed on fir s t reading this
lUtlt J ay of May, 1qn.
1971.
Published as a Bill for an Ordinance this 12th day of Hay,
-:;.{
Read by title and passed on final reading on the ~'I -
day of ___ 2t....)wkLlW'I..,+;c---• 1971. u
on the
Pu~iahed by title aa Ordinance No. /!.? , Series of 1971
24 ~ day of )l "' t , 1971. v
I I
Mayor
ATTEST:
I
ex officio City Clerk
I, Stephen A. Lyon, do hereby certify that the above and
foregoing is a true, accurate, and complete copy of an Ordlnance
passed on final reading and published by title as Ordinanc No.
-L-----• Series of 1971.
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ex officio
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