Loading...
HomeMy WebLinkAboutORDINANCE 330-67-‘L - t —0 r / ORDINANCE NO.330 AN ORDINANCE PROVIDING FOR THE PAYMENT TO THE NORTHERN COLORA.DO WATER CONSER VANCY DISTRICT AN AGGREGATE SUM OF MONEY EQUAL TO SUCH SUM AS WOULD HAVE BEEN PRO DUCED BY SAID DISTRICTtS AD VALOREM TAX LEVIES AGAINST THE VALUATION OF PROPERTY IN ESTES PARK,COLORADO IN THE YEARS 1937-1966,BOTH INCLUSIVE. WHEREAS,the territory within the boundaries of the Town of Estes Park,Colorado was included within the boundaries of the Northern Colorado Water Conservancy District by an Order of the District Court in and for the County of Weld and State of Colorado,which order was entered by the Court upon the petition of certain owners of land within the corporate limits of the Town of Estes Park and in accordance with the provisions of Section lO-5-3l (3),Colorado Revised Statutes,1963; AND WHEREAS,the Order of said District Court provides that the Town of Estes Park shall forthwith enact an ordinance obligating itself to pay to the said District an aggregate sum of money equal to such sum as would have been produced by said District’s ad valorem tax levies against the valuation of property in Estes Park,Colorado in the years 1937-1966, both inclusive,which aggregate sum is Fifty Seven Thousand Four Hundred Forty Four Dollars and Fifty Five Cents ($7,LLJ4.55); AND WHEREAS,said Order provides for the manner in which said sum shall be paid to said District; NOW,THEREFORE,BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF ESTES PARK,COLORADO: Section 1.That the Town of Estes Park,Colorado shall pay to the Northern Colorado Water Conservancy District Z the sum of Fifty Seven Thousand Four Hundred Forty Four Dollars and Fifty Five Cents ($57,14!l.55)in ten (10)equal annual installments together with annual interest on the remaining principal balance at the rate of four and one-half per cent (L%)per annum.The said annual installments together with the interest due shall be paid to said District on or before January 15 of each calendar year,commencing in 1968 and continuing until the said principal sum is paid in full; provided,however,that the Town of Estes Park shall have the privilege of paying any number of the principal payments on the above sum on any annual payment date,and there shall be an abatement of interest on any such sum or sums paid. No prepayment of principal shall relieve the Town of Estes Park from making its regular annual payment when due. Section 2.That the proper officers of the Town of Estes Park,Colorado are hereby authorized,directed,and it is made their duty,to levy,at the time of making the levy for other taxes,a tax sufficient to pay all or any number of said annual installments and annual interest thereon, or to appropriate and pay from such other funds of the Town. of Estes Park all or any number of the said annual installments and annual interest thereon. Section 3.The Board of Trustees herewith finds, determines and designates that this ordinance is necessary for the immediate preservation of the public health and safety for the furnishing of water affects the public health and safety,and whereas in the opinion of the Board of Trustees an emergency exists,this ordinance shall take effect and be in force five (5)days after its final passage, -2- adoption and publication. / Mayor ATTEST: Town Clerk -3-