HomeMy WebLinkAboutORDINANCE 139-541.4
STITE 07 COLOROO
COUNTY OF LIiR
Tr’N 0!ETS PtU
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The 3ord of Trustes of the Town of stes Thirk,Lri—
meT ounty,:o1ort3o,t in meeting in full con—
foriity with i ?and the or1inunc ani ru1s of said Tovn,.t
the Th”n :i1l,in said Town,the regulnr plnoe of meeting of said
Board,on the day o December,1.953,at
%3O o’clock at which i’etinr there were present anö n—
swering at roll call:
yo r:
Trustees:
Clarence A.T’leS
3.3.LcConne11
C.L.derzog
Henry ;nnels
)li.3.To1ing
George U.!YRtson
Treaeurer:aty
Town Clerk:V.H.Fanton
b a ..3nt:
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Thereupon intro’1uced and
thore ci read in full the ‘ollowin rne:
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ORDINNC NO.
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AN OAJINANC TO CO1t&A)T N IflDBTDNSS
ON BEHALF OP TO’N 0?JTS PARK,
COLOR JO,IN)UPON t1 Oi1’T’TNLUO?BY
ISSUING B(’CT $AID rOWN IN Tfl P LI
PAL SUM OF 2OQ,OOO POR CTNDING AN!)i;:
PROVING ITS WL Y!PSCUE
ING Tfl FORk OP IID BOND,PflOI”1
FOR T LEVY O TMC1S TO ‘tAY ‘Hi /VS,
AIW DGLAING AN
RAS,a jorit of tb voters of th Town of ?stes—
E’srk,Lriiaer Qount,Oolorsio,‘vho er tzpayers under t’i law,
voti on the queation at a .fliCpi e.ection hr,tofor.held in
[acid Town,by their Yot3 oj)protr’d aiM BuoriZed the Boart of
Trustees of sid Tovin to erect a system of wterworks for fire
end on.estio pu.rpo9es,the saiae to be o ied and opcrited by the
Town;end
%IEIUAE,the town did erect an ever since sai 1ia
iis ovned,operMted and xi.aintained 3ysta of waterwor for ‘iie
puroae of aupp1yin.said rows and ts inhebitnts with wstr for
such urposes;and
it is necessary to t3nd and improve said
•weterworks ayteu in order to supply the said Town,and the in
habitants thereof,with a proper an4.adequto supply of wter;
and
•WRI,there o’e not uft’icient func1 in the treasury
of the Town to provide for the ooste nd expenses of extendin€
.nd ircvin said wterworks system,nd the oer of Trustees
deerns it advisable end nry to issue coupon bonds of s.d
To’nr fr r that purposO;•.V V
V IT OAIZ BY TTP?%)O1 Tt1E O
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$ection 1.That for the purpose of “r’;viding funds for
extoi in aJ improving the stes Pric Weterworkn ystet,the
Town shT1 isue the n•otiab1?coupon bnn’s thereof,in the ::rin
cipel sum of :200,000,dated Deeeniber 1,1953,coneistir of 20O
bonds in the denoaination of l,000 each,nwibared 1 to 200,:n—
c1uaiv,payable in 1fu1 money of th Tnited t:’te8 of Aierica,
bearing interest peyablo semi-nnua1ly on h’1st clay of 1Tune
and the let day o Deceibor each year,evi’ienoecl by interest cou
pons attached to eid bond,end irturin on Decerbr let as
follows:
Interest
4,000 19L4 and 1955 2
6,000 1956 and 1957 2.
6,000 196 2
6,000 1959 2 1/2
7,000 1960 1982,iLolusive 2 1/2
3,000 1963 2 1/2L
8,000 1964 2 5/4Z
9,000 1966 2 3/4
14,000 1966 2 3/4%
15,000 1968 2 5/4
1,000 19ô9
16,000 1970 and 1971 3
11,000 1972 and 1973 3
Bon’i turin in the years 1964 and thereafter sh11
be re’eib1e at the option of the town on ecc’..br 1,1963,and
on mt roet payient dates theraftir In Inverse mi;rie’1 order.
;‘iid bonds aed the coupons thereto attiehed shell he payable at
the ofrice of the ovn rreaaurer,in •stes Park,oiorado.said
bonds she be signe3 by the yo:,counters ined by the Town
Treesurer,sealed with the Toin seal,attested by the Town Clerk,
and shall be recorded in a kept by said Town Clerk for that
purpose..U1 hel1 5eT the faosimiln signature of the
Treasurer of id Town
eotion 2.That the said bonds and the coupons attached
tbsreto shall be in eutsnbia11y the ro11ovin fcrm,to—’itt
1967
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in lwfti1 ney c the,TThited te of Ainerf,at the off ice of
the Town rvurer,in Tates ier]c,Co1oreo,bI.n six nxntbs’
nteret on its WItef zteaaion Bonl,teted Debr 1,A..193,
bearing
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TUD 8,
On th 1t ey of eoembar,A,D,1_,‘(unless th
bo.d to hicti tIi ooupon Is ettahed hte been ciUed for prior
r,deLp!tnr,Thwzz of .!ste’P’rk,ifl the County of t.e’rier ,nd
St*to of v’j11.pa to bsrr V.V.
(fcia of .oupon)
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josil ejncre1
wfl ae sure:
*(This clause to be inserted in coupons urf.n runi 1,1964,an thr.after.)
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3ection .That inn sai bonds :iave been d1.y exe—
outed as aforesaid,they s:.U be sold and delivered to the pur—
chasers thereof,end the proceeds,thereof eba be used tor the
purpose of extending and improin the weterworks yst;of said
Town1 and for no otir purpose whatoever,but neither the pur
chasers of si’1 bonds nor the subsequent holder of any of them
shallbe reeonsible for the app1iction or isposal by said
Town,or any of its of floere,of any of i’e funds derived from
the sale thereof.
3sotion 4.The interest and prIncipal to become due
on esid bonds in te year 1954 shell be advnoed fron the general
or :ter fund of said town.For the purpose of r:LbursIng such
fund,and of meet1n the interest t reeftor aocruin on said
bonds pro,nptly as the same boooxs due,ind for th purpose of
providing far the ultimate payont and redemption of said bonds,
there shall be levied on all the taxable property in reid Town,
in ddiIio to all other tsxes,direct anra1 taxes in each of
the yera 194 to 1972,frc1usive,sufficient to produce net
janOunts to pay such interest and principal as the same become due
and payable,resçectfe1y.
$ald taxes,when colleoted,shall he deposited in a
special fu’to he mown as “Estes PrL tar 1ond Fund,1933,”
and such fund shall be applied solely to the purpose of the pay
ment of the interest on and the priiclpal of said bonds,respec
tively,and for no other purpose wbtver until the indebtedness
so contracted under this Ordinance,both principal and interest,
shall have been fully prdd,satisfied end dIschsred,but nothing
Irin contained :‘U be so oonst.’usd as 4o prevent said Town
from applying,any ohsr funds or rsvenue thit y he in the “n
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treasury en av’iileble for thct urpoe,to the psyiuent of said
intcrest or principtl,as the same respctively mature,and upon
cny such pyents thø levy or levies herein provided may there
upon to tht extent be diminished.
And the surs bereInhfore provided to nie’t t Interest
on said bonds,cnd to dicharge the principal thereof hon due,
are hereby nproprited for tast purpose,end said anunt for
each yr shell also be 1nc1u.ed In the annual budget and the
appropriation bills to be od and passed by th oard of H
Trustees of said Town in each yex’respectiv.ly.
Section .it shell be the duty oV the Boe of ru—
tees of sIc1 2own,annually,t the tIrie and in the nner “ro—
vidc by law for levying other Toin taxes,if such action shall
be necessary to effeotuate the pz’o’visinns of this Ordininee,to
ratify end erry out th provisions hreof with referucs to the
levying end oo1loion taxes;and said Th,rd shell levy,cer
tify and collect auch taxes in the r poided by law for the
purpose of ratin€a funi for the payaet of the principal of
id bonds and the Interact thereon,and such taxes,whim aol—
1etd,shall be $:t for sad applied only to the payment of the
int.’est on and principal of said bcne as hereinabove specified.
SectIon 6.All ordinanc*or psrt thereof,in conflict
with this Ordintinee,ere hereh:’repealed.-
Section 7.After id bonds are issued,this OrdinanCe
shell be rind remrün irrapclabie until ai4 bont a:the inter
est therecn shall been fully paid,satisfi end dichargsd.
..ection 8.This Or’Innce,imzuediately on Its passae,
Shli be in the Toiin iOoE of Ordindnoes kept for thut
purpose,athentlcated by the sInaturms of the 1ayør nd clerk
anI shell be published as ruird by 1;.
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Section c.fly reason of the feat hat the Tom en it
inbabitnts are not properly or adequately 3upplied with rter,
it 18 erb deolarel that an emerenoy exists,that thia Ord
nenoe iL neceary to tLe i2aiuedfte preeervetion of the public
peace,health an u’foty,and thBt iz hl1 be in full force and
effect five ya after publioit1on.
ADOP?nD TD AP?ROV1D this of ecrtber,
1955.
sEAL
It was then ncve by TruBtee
seconded y that ell..rules of th1
Boer;i vhich,unless su3pended,rihtrevent the finil passage
arv3 aaoption of this Ordinance at this meetinp,be and the same
are hereby uependo
The uetion beirg upon adoption o1 saic motion
an te suspension of th rules,tLe roll w ‘i cai1a with the
follo:ing result
T’ne vàting AYE:
Trusteo:-—‘-
B.r.Y’onne11.
C.L.Herzog .
:Henry rnes
•.Poling
George Ti.‘etson
Thos e yr tine NY
meLbei bf th io8r c Trutaes haring voted in
f’avor of i1d rnot3cn,the presiding office.r deelred ic1 wotion
o8rri3d nd tie rui€s suspended.
Tru3tee,&.Jt-then nove.that said Cr11-
nnoe be pesscl nnd adopted i rod
The question being upon the passa€e end.a1option of
said Crdfnmce,the roll was oallcd with the foLlowing rsu1t:
Those roting AY:
Tii.za toes
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B.;.1cConll
C.L.1!orzog
Henry )anneis
1.J.Poling
George H.‘at3on
Those voting NIY:
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The presiding officer thereupon declared
of all the Trustees elected having voted in f’avor thereof,the
said motion was caried and the said Ordinance was auly passed
and ado2ted.
On motirn duly adopted,it was crdered that said Ord—
nnoe be numbered 13!.,awl after appov*.by the ?yor,be
published in,
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und be recorded accord
ing to law.
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STATE F C(L0.RADO )V
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CCUNTY OF LPNIIR )
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TOV..N OF ISTS PARK )
I,V.H.Fanton,ciwn Cler!:of the Town of stes Park,
Lnrimer County,Cnlorido,do hereby certify that the fore
going poges numbered 1 to 11,inclusive,contain a full and cor
reot copy of the record of prooredings of the Board of Trustees
of Id jo taken at a JliGO44jt.ineetin thereof,held
at the Town Hall,the regular fLeeting place of said Boerd,in
said Town,on the
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fir!y of ece!ber,1g55,insofar as
id proceedings relate to tn passage and adoption of the Ordi
nance therein ret forth.
That atached hereto,r;iarked xhibit A,u Is an aff’i—
Thvit of publication of said OrdInnce e passed and adopted by
said Boari of Trustees at raid menting;tlwt said original C,r1i
nnnce has been duly authenticted by the sinntures of the Varor
and niyself,as Clerk of said Town,se1ed with the cornorte seel
of raid Town,signed and an;’ovo1 by tie Layor thereof,and re
corded in the Bcok of Ordinenoes of said To”n kept for that pur
pose in ny office,
IN ITNS I hava hereunto t y hind end the
seal of the Town of stes irk,Colorado,this_’Z day of
4,vU*1/
DO8LLLbt’-j-iQ5Øf.
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