HomeMy WebLinkAboutORDINANCE 262-64Q -
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ORDINANCE NO.2
AN ORDINANCE TO CONTRACT AN INDEBTEDNESS
ON BEHALF OF THE TOWN OF ESTES PARK,COLO
RADO,AND UPON THE CREDIT THEREOF,BY IS
SUING BONDS OF SAID TOWN IN THE PRINCIPAL
AMOUNT OF $300,000,FOR THE PURPOSE OF
SUPPLYING THE TOWN WITH WATER;PRESCRIBING
THE FORM OF SAID BONDS;PROVIDING FOR THE
LEVY OF TAXES TO PAY THE SANE;AND DECLAR
ING AN EMERGENCY.
WHEREAS,a majority of the voters of the Town of Estes
Park,Colorado,who were taxpayers under the law,voting on the
question at a municipal election heretofore held in said Town,by
their vote approved and authorized the Board of Trustees of said
Town to erect a system of waterworks for fire and domestic pur
poses,the same to be owned and operated by the Town;and
WHEREAS,the Town did erect and ever since said time has
owned,operated and maintained a system of waterworks for said
purpose;and
WHEREAS,it is necessary to extend and improve said
iwaterworks system in order to supply the said Town and the inhab
itants thereof with a proper and adequate supply of water;and
WHEREAS,there are not sufficient funds in the treasury
of said Town to provide for the costs and expenses of supplying
said Town with water and the Board of Trustees deems it advisable
and necessary to issue coupon bonds of said Town for that purpose;
and
WHEREAS,the Town desires to authorize the issuance of
.$3OO,O0O of General Obligation Water Bonds,and to issue and.de
liver at this time $200,000 of said amount;
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THEREFORE,BE IT ORDAINED BY THE BOARD OF TRUSTEES OF
THE TOWN OF ESTES PARK,LARIMER COUNTY,COLORADO:
Section 1.That for the purpose of providing funds to
pay the costs and expenses of supplying the Town of Estes Park
with water,the Town shall issue the negotiable coupon bonds there-
of,dated July 1,1964,in the principal amount of $300,000,con
sisting of 300 bonds in the denomination of $1,000 each,numbered
I to 300,inclusive,payable in lawful money of the United States
of America,bearing interest,payable January 1,1965,and semi
annually thereafter on the 1st day of January and the 1st day of
July each year,as evidenced by interest coupons attached to said
bonds,and maturing on July 1,as follows:
Amount Maturity Interest Rate
$5,000 1965 4%
6,000 1966 and 1967 4%
7,000 1968 to 1973,md.4%
8,000 1974 4%
25,000 1975 3-3/4%
27,000 1976 3-3/4%
28,000 1977 3-3/4%
30,000 1978 3.60%
23,000 1979 3.60
11,000 1979 3-7/8%
56,000 1980 3-7/8%
33,000 1981 3-7/8%
Bonds maturing in the years 1975 and thereafter
shall be redeemable at the option of the Town on July 1,1974,and
on interest payment dates thereafter,in inverse numerical order,
at par and accrued interest.
Said bonds and the coupons thereto attached shall
be payable at the office of the Town Treasurer,in Estes Park,
Co1orado,and shall be signed with the facsimile signature of the
1Mayor,sealed with the facsimile of the seal of said Town,attest
!ied by the manual signature of the Town Clerk,countersigned with
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the facsimile signature of the Towti Treasurer,and shall be re
corded in a book to be kept by the Town Clerk for that purpose.
All coupons shall bear the facsimile signature of the Treasurer
of said Town.Should any officer whose signature or facsimile
signature appears on said bond/or the coupon thereto attached
cease to be such officer before delivery of the bonds to the pur
chaser,such signature or facsimile signature shall nevertheless
valid and sufficient for all purposes.
Section 2.That the said bonds and.the coupons attach
ed thereto shall be in substantially the following form:
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AdOD I dO3 A103otj.JX 03
(Form of Bond)
UNITED STATES OF AI€RICA
STATE OF COLORADO COUNTY OF LARINER
TOWN OF ESTES PARK
WATER BOND
No.
_______
$1,000
The Town of Estes Park,in the County of Larimer and
State of Colorado,acknowledges itself indebted and hereby promise
to pay to the bearer hereof the sum of
ONE THOUSAND DOLLARS
on the 1st day of July,19,with interest thereon at the rate
of
_______________________________
per centum (%)per an
.num,payable January 1,1965,and semi-annually thereafter on the
1st day of January and the 1st day of July each year,as evidenced
by interest coupons hereto attached,both principal and interest
bein payable in lawful money of the United States of America,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.
(The following clause to be inserted in bonds maturing
on July 1,1975,and thereafter)
This Bond is redeemable at the option of the Town on
July 1,1974,and on interest payment dates thereafter in inverse
numerical order,at par and accrued interest.
This Bond.is issued by the Board.of Trustees of the Town
of Estes Park,Colorado,for the purpose of supplying water to
said Town and its inhabitants,under the authority of and in full
conformity with the Constitution of the State of Colorado,the
provisions of Chapter 139,Article 32,Colorado Revised Statutes
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1953,and all other laws thereunto enabling,and pursuant to an
Ordinance of said Town,duly adopted,published and made a law
of said Town prior to the issuance of this Bond.
It is hereby certified and recited that all the require
ments of law have been fully complied.with by the proper officers
of said 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 annual taxes sufficient to pay the interest on
and the 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 prin
cipal of and the 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 said Town,attested by the
manual signature of the Town Clerk,countersigned with the fac
simile signature of the Town Treasurer,sealed with the facsimile
lof the seal of the Town,and the attached coupons to be signed
with the facsimile signature of the Town Treasurer as of the 1st
day of July,1964.
(Facsimile signature)
(FACSIMILE)
$E A L )
ATTEST:
(Do not sign)
Town Clerk
Mayor
COUNTERSIGNED:
(Facsimile Signature)
Town Treasurer
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(Form of Coupon)
jNo $
On the 1st day of ary,
19,*(unless the bond to
which this coupon is attached has been called for prior redemp
tion,)the Town of Estes Park,in the County of Larimer and State
of Colorado,will pay to bearer
__________________________
DOLLARS
in lawful money of the United States of America,at the office of
the Town Treasurer,in Estes Park,Colorado,being six months’
interest on its Water Bond dated July 1,l96L,bearing
No.
_______
(Facsimile Signature)
Town Treasurer
*(This clause to be inserted in coupons maturing January 1,1975,
and thereafter)
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Section 3.That when said bonds have been duly executed
as aforesaid,they shall be sold and delivered to the purchaser
thereof,and the proceeds thereof shall be used for the purpose
of paying the costs and expenses of supplying the Town of Estes
Park with water and for no other purpose whatsoever,but neither
the purchaser of said bonds nor any subsequent holder of any of
them shall be responsible for the application or disposal by said
Town or any of its officers of any of the funds derived from the
sale thereof.
Section 4.For the purpose of paying the interest ac
cruing on said bonds promptly as the same becomes due,and for the
1 purpose of providing for the ultimate payment and redemption of
said bonds,there shall be levied on all the taxable property in
said Town,in addition to all other taxes,direct annual taxes in
each of the years 1964 to-,inclusive,sufficient to produce
the principal of and interest on outstanding bonds as the same
become due and payable.
Said taxes when collected shall be deposited in a
special fund to be known as TtEstes Park Water Bond Fund,July 1,
$1964”,and such Fund shall be applied solely to the purpose of the
1payment of the interest on and the principal of said bonds,re
Ispectively,and for no other purpose whatever until the indebted-
‘ness so contracted under this Ordinance,both principal and inter
est,shall have been fully paid,satisfied and discharged,but
‘nothing herein contained shall be so construed as to prevent said
‘Town from applying any other funds or revenues that may be in the
Town Treasury and available for that purpose to the payment of
said interest or principal as the same respectively mature,and
upon any such payments,the levy or levies herein provided may
thereupon be diminished to that extent.
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Section 9.This Ordinance,immediately on its passage,
shall be recorded.in the Town Book of Ordinances kept for that
purpose,authenticated by the signatures of the Mayor and Clerk,
and shall be published,as required by law.
Section 10.By reason of the fact that the Town and.its
çinhabitants must be properly and adequately supplied with water,
it is hereby declared that an emergency exists,that this Ordi
nance is necessary to the immediate preservation of the public
peace,health and safety,and that it shall be in full force ad
effect five days after publication.
ADOPTED AND APPROVED,this 8th day of June,1964.
(S E A L)
____________
ATTEST)//-)
Town Clerk
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It was then moved by Trustee,%?//yL,y’and second
ed by Trustee
______________
,that all rules of this Board which,
unless suspended,might prevent the final passage and adoption
of this Ordinance at this meeting,be and the same are hereby
suspended..
The question being upon the adoption of said motion
and the suspension of the rules,the roll was called with the fol
lowing result:
Those voting AYE:
Trustees:
Those voting NAY:
__________________________
members of the Board.of Trustees having voted
in favor of said motion,the presiding officer declared said
:motion carried and the rules suspended.
Trustee 2.ze /,./‘-,then moved that said Ordinance
be passed and adopted as read.Trustee seconded
the motion.
The question being upon the passage and adoption of
said Ordinance,the roll was called with the following result:
Ronald C.Brodie
Henry D.Dannels
•M.Hunter
L.Leo Martin
Carl Swanson
Harry B.Tregent
C
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Those voting NAY:
_________________________
The presiding officer thereupon declared that,
of the Trustees elected.having voted in favor thereof,the said
motion was carried and the said Ordinance duly passed and adopted
I On motion duly adopted,it was ordered that said Ordi
nance be numbered C2 ,and after approval by the Mayor,
be published in /‘‘-,<-7a,’/,a newspaper
of general circulation in said Town,and be recorded according to
law.
(SEAL)
ATTEST
/
Town Clerk
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Those voting AYE:
Trustees:Ronald C.Brodie
Henry D.Dannels
C.N.Hunter
L.Leo Martin
Carl Swanson
Harry B.Tregent
Mayor
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STATE OF COLORADO )
)
COUNTY OF LARIMER )ss.
)
TOWN OF ESTES PARK )
I,Dale G.Hill,Town Clerk of the Town of Estes Park,
ILarimer County,Colorado,do hereby certify that the foregoing
pages numbered 1 to 12,inclusive,constitute a true and correct
copy of the record of the proceedings of the Board of Trustees of
said Town,taken at a regular meeting thereof,held.at %e
___________________________________
in Estes Park,the reg
ular place of meeting of said Board,on Monday,the 8th day of
kjune,l96,insofar as said proceedings relate to the passage and
adoption of the Ordinance therein set forth.
That attached hereto is an Affidavit of Publication of
said Ordinance as passed and adopted by said Board of Trustees at
said meeting;that said.original Ordinance has been duly authen
by the signatures of the Mayor and myself,as Clerk of
said Town,sealed with the corporate seal of said Town,signed
and recorded in the Book of Ordinances of said Town kept for that
purpose in my office.
IN WITNESS WHEREOF,I have hereunto set my hand and the
seal of the Town of Estes Park,Colorado,this
_____
day of June,
1964.
(SEAL)
__________
Town Clerk
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