HomeMy WebLinkAboutORDINANCE 40-72-0
STATE OF COLORADO )
COUNTY OF LARIM2R )ss.
TOWN OF ESTES PARK
The Board of Trustees of the Town of Estes Park,Colo
rado,met in egulcr session at the Town Hall in the Town,on
Monday,the 23rd day of October,1972,at 7 3Q o’clock P.M.
Upon roll call the following were present:
Mayor:Harry B.Tregent
Mayor Pro Tern:Glenn Prosser
Trustees:Robert E.Burge-s-s
H.Bernerd Dannejs
N.T.Petrocine
Rollen Sutter
Robert E.Wagner
Also present:
Town Clerk:Dale G.Hill
Town Treasurer:NT.Petrocine
Town Attorney:
____________________
Absent:J,.,-//Zg.cs
Thereupon Trustee //‘/,1 introduced and
there was read in full the following Ordinance:
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ORDINANCE NO./‘t.-77
AN ORDINANCE TO CONTRACT AN INDEBTEDNESS ON
BEHALF OF THE TOWN OF ESTES PARK.,COLORADO,
AND UPON THE CREDIT THEREOF BY ISSUING GENERAL
OBLIGATION BUILDING BONDS OF.THE TOWN IN THE
PRINCIPAL AMOUNT OF $600,000 FOR THE PURPOSE
OF IMPROVING AND FURNISHING AN EXISTING BUILD
ING AND CONSTRUCTING AND FURNISHING A NEW
BUILDING,BOTH TO BE USED FOR MUNICIPAL
PURPOSES;PRESCRIBING THE FORM OF SAID BONDS
AND PROVIDING FOR THE LEVY OF TAXES TO PAY
THE BONDS AND THE INTEREST THEREON;AND
DECLARING AN EMERGENCY.
WHEREAS,at a special municipal election duly called
and held in the Town of Estes Park,Colorado,on Tuesday,October
17,1972,a majority of the registered,qualified electors voting
thereat,approved the question of issuing general obligation bonds
of the Town in the principal amount not exceeding $600,000,for
the purpose of improving and furnishing an existing building,and
constructing and furnishing a new building,both to be used for
municipal purposes;and
WHEREAS,the results of said election have been duly
canvassed and certified,as required by law;and
WHEREAS,the Board of Trustees has determined it is
necessary and advisable at this time to authorize the issuance of
said bonds in the amount of $600,000 for said purpose;
BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF
ESTES PARK,LARIMER COUNTY,COLORADO:
Section 1.Bond Details.That for the purpose of
improving and furnishing an existing building,and constructing
and furnishing a new building,both to be used for municipal
purposes,the Town shall issue its general obligation negotiable
coupon bonds in the principal amount of $600,000,each to be
designated “General Obligation Building Bond.”The bonds shall be
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Ti,0.0
dated November 1,1972 and consist of 120 bonds in the denomination
of $5,000 each,numbered 1 to 120,inclusive,bearing interest
payable on May 1,1973,and semi-annually thereafter on the 1st
day of May and the 1st day of November each year,as evidenced by
interest coupons attached to said bonds,and maturing serially
on November 1,as follows:
Amount Maturity Interest Rate
$20,000 1973 5—1/4%
25,000 1974 5—1/4%
30,000 1975 and 1976 5—1/4%
65,000 1977 5—1/4%
70,000 1978 5—1/4%
75,000 1979 5—1/4%
80,000 1980 4.80%
100,000 1981 4.80%
105,000 1982 4.80%
The net effective interest rate of this issue of
bonds is
________%
per annum.
Bonds of this issue are not redeemable prior to
their respective maturity dates.
The bonds and the interest coupons attached thereto
shall be payable in lawful money of the United States of America,
at the Office of the Town Treasurer,in Estes Park,Colorado.
Section 2.Form and Execution of Bonds and Interest
Coupons.The Bonds shall be signed with the facsimile signature
of the Mayor of the Town,sealed with a facsimile of the seal
of the Town,attested by the manual signature of the Town Clerk
and countersigned with the facsimile signature of the Town Treasurer.
The interest coupons attached to said bonds shall bear the
facsimile signature of the Town Treasurer,and when issued as
aforesaid as part of said bonds,shall be the binding obligations
of the Town according to their import.Should any officer whose
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manual or facsimile signature appears on said bonds or the
interest coupons attached thereto cease to be such officer
before delivery of the bonds to the purchaser,such manual or
facsimile signature shall nevertheless be valid and sufficient
for all purposes.
The bonds and the interest coupons attached thereto
shall be in substantially the following form:
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0 0
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF COLORADO COUNTY OF LARIMER
TOWN OF ESTES PARK
GENERAL OBLIGATION BUILDING BOND
No.$5,000
The Town of Estes Park,in the County of Larimer and
State of Colorado,acknowledges itself indebted and hereby
promises to pay to the bearer hereof the principal sum of
FIVE THOUSAND DOLLARS
on the 1st day of November,19,with interest thereon at the
rate of
______________________________
per centum C %)
per annum,payable on May 1,1973,and semi—annually thereafter
on the 1st day of May and the 1st day of November each year,both
principal and interest being payable in lawful money of the United
States of ?merica,at the Office of the Town Treasurer,in Estes
Park,Colorado,upon presentation and surrender of said coupons
and this Bond as they severally become due.
Bonds of this issue are not redeemable prior to their
respective maturity dates.
This Bond is issued by the Board of Trustees of the
Town of Estes Park,Colorado,for the purpose of improving and
furnishing an existing building,and constructing and furnishing
a new building,both to be used for municipal purposes,under
the authority of and in full conformity with the Constitution and
Laws of the State of Colorado,and pursuant to an Ordinance duly
adopted,published and made a law of the Town prior to the issuance
of this Bond and that the issuance of this Bond was authorized
at an election duly called and held in the Town of Estes Park,
on the 17th day of October,1972.
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It is hereby certified and recited that all the require
ments of law have been duly complied with by the proper officers
of the Town in the issuance of this Bond;that the total debt of
the Town,including that of this Bond,does not exceed any limit
of indebtedness prescribed by the Constitution or Laws of the
State of Colorado;and that provision has been made for the levy
and collection of an annual tax on all the taxable property in
the Town sufficient to pay the interest on and principal of this
Bond when the same become due.
The full faith and credit of the Town of Estes Park,
Colorado,are hereby pledged for the punctual payment of the
principal of and interest on this Bond.
IN TESTIMONY WHEREOF,the Board of Trustees of the Town
of Estes Park,Colorado,has caused this Bond to be signed with
the facsimile signature of the Mayor of the Town,sealed with a
facsimile of the seal of the Town,attested by the manual sianature
of the Town Clerk,countersigned with the facsimile signature of
the Town Treasurer,and the interest coupons attached hereto to
be signed with the facsimile signature of the Town Treasurer,as
of the 1st day of November,1972.
(FACSIMILE)
S E A L )TOWN OF ESTES PARK,COLORADO
ATTEST:By (Facsimile Sianature)
Mayor
(Manual Signature)COUNTERS IGNED:
Town Clerk
(Facsimile Signature)
Town Treasurer
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0
Section 3.Disposition of Bond Proceeds.When said
bonds have been duly executed,the Town Treasurer is hereby directed
to deliver the bonds to the purchaser thereof on receipt of the
agreed purchase price therefor.The proceeds of the bonds shall
be used only for the purpose of improving and furnishing an existing
building,and constructing and furnishing a new building,both
to be used for municipal purposes;and for paying the costs and
expenses incurred incidental to the issuance of said bonds and
for no other purpose whatever.Neither the purchaser of said bonds
nor the subsequent holder of any of them shall be responsible for
the application or disposal by the Town,or any of its officers,
of any of the funds derived from the sale thereof.
The proceeds of the bonds herein authorized shall be
used only for the purposes recited above;provided,however,that
any portion of the bond proceeds may be temporarily invested
pending such use in securities or obligations which are lawful in
vestments for municipalities in the State of Colorado.The tem
porary investment of the bond proceeds,or any portion thereof,
shall be of such nature and extent,and for such period,that the
bonds of the Town shall not be or become arbitrage bonds within
the meaning of Section 103(d)of the Internal Revenue Code,and
pertinent regulations,and such proceeds,if so invested,shall be
subject to the limitations and restrictions of said Section 103
(d)(4),as the same now exists or may later be amended,and shall
further be subject to any applicable regulations of the Internal
Revenue Service.
Section 4.Payment of Principal and Interest.If
necessary,the amount of interest to become due on said Bonds on May
1,1973 and November 1,1973,and the principal amount due on
November 1,1973,shall be advanced from any other fund or funds
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STATE OF COLORADO
•GENERAL INCUMBENCY
COUNTY OF LARIMER )ss.
CERTIFICATE
TOWN OF ESTES PARK
V
The undersigned,each for himself,being first
duly sworn on oath,deposes and says:
1.That they are,respectively,the duly elected or
appointed,qualified and acting Mayor,Town Clerk,and Town
Treasurer of the Town of Estes Park,Colorado.
2.That the Town of Estes Park,Larimer County,Colo
rado,is a municipal corporation of the State,duly organized and
existing under and by virtue of the general laws thereof relating
to towns,and that the Town was incorporated in the year /9/7
3.That for the period from the 28th day of August,
1972,to and including the date of this Affidavit,the following
have been and now are the duly elected,or appointed,qualified
and acting members of the Board of Trustees or officers of the Town
of Estes Park:
Mayor:Harry B.Tregent
Mayor Pro Tem:Glenn Prosser
Trustees:Robert E.Burgess
H.Bernard Danners
N.T.Petrocine
Rollen Sutter
Robert E.Wagner
Town Clerk:Dale G.Hill
Town Treasurer:N.T.Petrocine
Town Attorney:/
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IN WITNESS WHEREOF,We have hereunto set our hands and
the official seal of the Town of Estes Park,Colorado,this
day of
__________________,
1972.
%
‘yor
Town Clerk
Town Treasurer
Subscribed and sworn to before me this
______
day of
____________________
1972.
My commission expires J4’/t97L
(NOTARY /
SEAL)
_______________
Nothry Public
a
38 —
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STATE OF COLORADO
COUNTY OF LARIMER )ss.NO-LITIGATION CERTIFICATE
TOWN OF ESTES PARK )
The undersigned officers of the Town of Estes Park,
Larimer County,Colorado,being at the date of this Certificate
about to issue that certain series of negotiable coupon General
Obligation Building Bonds,dated November 1,1972,in the principal
amount of $600,000,for the purpose of improving and furnishing
an existing building,and constructing and furnishing a new build
ing,both to be used for municipal purposes,hereby certify as
follows:
1.That no litigation of any nature is now pending
or threatened restraining or enjoining the issuance or delivery
of said bonds or the levy or collection of any taxes to pay the
interest on or principal of said bonds,or in any manner questioning
the authority or proceedings for the issuance of said bonds or
for the levy or collection of said taxes,or affecting the validity
of said bonds or the levy or collection of said taxes;
2.That neither the corporate existence of the Town,
the present boundaries thereof,nor the rights of the officers to
hold their respective offices,is being contested or challenged;
3.That no authority or proceedings for the issuance of
said bonds has or have been repealed,revoked or rescinded;
4.That no bonds of the Town have been heretofore issued
under or pursuant to such proceedings;
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5.That,so far as is known nothing exists to hinder
or prevent the Town from issuing such bonds.
IN WITNESS WHEREOF,the Board of Trustees of the Town of
Estes Park,Colorado,has caused this Certificate to be signed
by the Mayor and the Town Treasurer,sealed with the seal of the
-tt’1LtTh
Town and attested by the Town Clerk,this
_____
day of
____________
1972.
(SEAL)
Town Treasurer
ATTE
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STATE OF COLORADO )
SS..CERTIFICATE OF VALUATION
COUNTY OF LARIMER )
I,
_________________________________,
County Clerk and
Recorder of Larimer County,Colorado,do hereby certify that the
actual value of the taxable property within the Town of Estes
Park,Larimer County,Colorado,being the actual value for the
year 197,as shown by the official records of the County
Assessor’s office,was and is $______________________
IN TESTIMONY WHEREOF,I have hereunto affixed my off I
cial signature and the seal of said County,at Fort Collins,Colo
rado,this day of
____________________,
1972.
(SEAL)
___________________
County Clerk and Recorder
Larimer County,Colorado
EXAMINED and found correct as to valuation this
day of -
,1972.
County Assessor
Larimer County,Colorado
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FACSIMILE SIGNATURE CERTIFICATE
STATE OF COLORADO )
)ss.
COUNTY OF LARIMER )
Before me,the undersigned authority,personally appeared,
who,being by me first duly sworn on oath,deposes and says:
1.That lie (she)is the duly and lawfully elected or ap
pointed,qualified,sworn and acting officer of the Town of Estes
Park,Colorado
as indicated below:
NAME TITLE TERM EXPIRES
T.Petrocine Town Trasurer
797
*fFill in name of officer exactly as his (her)signature appears in
in Item 3)
2.That the signature appearing below is my own manually
executed signature in the form and manner used to execute all of
ficial documents in my official capacity,hereinabove designated.
3.That hereto affixed is an impression of the official
seal of the Town of Estes Park,Larimer County,Colorado
_____________________________,
as the same has been authorized and
üied for official documents.
(S E A L SIGNATURE TITLE
77 /Town Treasurer
Subscribed and sworn to before me this/r)q day of
____
,1972.
My commission expires /7
S E A L )
____________________________
Notary Public
Original filed in the office of the Secretary of State,
on the
_____
day of
_________,
1972.
Byron A,.Anderson
Secretary of State
By
____
Title____
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STATE OF COLORADO )
COUNTY OF LARIMER )ss.DELIVERY CERTIFICATE
TOWN OF ESTES PARK
I,N.T.Petrocine,Town Treasurer of the Town of
Estes Park,Larimer County,Colorado,hereby certify that on
this date the Town delivered to Boettcher and Company,Denver,
Colorado,the purchaser thereof,its General Obligation Building
Bonds,in the principal amount of $600,000,dated November 1,1972,
consisting of 120 bonds in the denomination of $5,000 each,numbered
1 to 120,inclusive,and the Town acknowledges receipt of the full
purchase price therefor,as follows:
Principal Amount:$600,000
Premium:
__________________
Accrued Interest From
November 1,1972:
______________
TOTAL:
_______________
It is hereby further certified that the statements
made in the Affidavits or Certificates appearing at pages 38
to 46,inclusive,concerning the issuance of said General Obligation
Building Bonds,of the Town,including but not limited to provisions
therein relating to officers of the Town,their signatures and the
absence of litigation,remain true and correct to and including the
date of this Certificate;and each of the paragraphs therein set
forth is herein incorporated by specific reference.
IN WITNESS WHEREOF,I have hereunto set my hand and
affixed the seal of said Town,this
_____
day of
_______________,
1972.
p.
Town Treasurer
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