HomeMy WebLinkAboutORDINANCE 91-40V
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V ORDiNANCE 110.CfJ
Al ORDINANCE PROVIDING FOR ThE ISSUIfCE BY THE TOWN
OF ESTES PARK,IN THE STATE OF COLORADO,OF ITS
NEGOTIABLE COUPON BONDS IN THE AGGREGATE AMOUNT OF
$EVENTY-flVE ThSAND DOLLARS f$7s,000.oo)BE
DESIGNATED RZFUNDfl3 WATER EXTENSION BONDS’,7()1
THE PURPOSE OP REEJN DING A LIKE AMOUNT OF THE OUT
STANDING BONDED INDEBTEDNESS OF SAID Tt)WN,PRESCRIB
ING THE POI OP SAID REFUNDING WATER EXTENSION BONDS,
PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL
TAX AND THE PLEDGE OF WATER REVENUES TO PA!THE SAME,
PRINCIPAL AND INTEREST;REPEALING ALL ORDINANCES,
RESOLUTIONS,OR PARTS THEREOF,IN CONFLICT HEREWITH
AND DECLARING AN ENERGENC!
WHEREAS,The Town of Sates Pa*,in the County of Larimer,
and Stat.of Colorado,has hr•tofore isued,and there i now out
standing and unpaid,its negotiable coupon bond,designated:
To*i of Sates Park,Colorado,Water Ext1sIon Bond,
dated September 15,1940,due Septbsr ic,1950,
redeemable at any Use prior to maturity,bearing
interest at the rate of Two and Three—Quarters Per
Centum (2 3/4%)per annum,payable semi—annually,
and consisting of one (1)bond in the denomination
of Seventy—Five Thousand r)ollars fS75,000.OO),
numbered One (I);
and
WHEREAS,There are no funds in the treasury of the 3aid
Town available for the redemption of all or any part of said bond;
and
WHEREAS,By a resolution duly adopted on the /day
of September,A.D.1940,the Board of Trustees of the Town of Eatoi
Park determined to issue,in accordance with the laws of the State
of Colorado,new bonds to be denominated Rafundi Water Extension
Bonds”,the ass,to 5.exchanged dollar for dollar for th.bond to
be refunded;the amount of bonds so determined upon to be issued as
aforesaid being the sum of Seventy—Five Thousand Dollars ($75,000.00);
th.certificate of suoh determination having been heretofore duly
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made and entered in and upon the records of said Town as required by
law;and
WHEREAS,The Board of Trustees heretofore has determined
that said Refund.ng Water ztansion Bonds to be so issued in the
aggregate amount of Seventy—Five Thousand Dollars (75,QOO.OO)shall
be exchanged dollar for dollar for the bond to be refunded,and said
Board of Trustees believes it to be their duty to issue said Refund
ing Water extension Bonds and cause the saie to be exchanged for the
bond to be refunded as aforesaid,as and in the manner provided by
law:
NOW,THEREFORE,U IT ORDAINED BY THE SAID BOARD OF
TRUSTEES OF THE TOWN OF E$TZS PA!K,IN THE STATE Of
COLOfADO
Section 1.That by virtue and in pursuance of an Act of
the General Assembly of the State of Color&do,entitled “M Act to
enable cities and towns to refund their bonded indebtedness’t,ap
proved March 16,1921,and appearing as Sections 259 to 267,inclu
sire,Chapter 163,Colorado Statutes Annotated,1935,and all acts
amandatory thereof and supplsiaantal thereto,there shall be issued
bonds of said Town of Esta Part,to be designated ‘tRafunding Water
1xtenaion Bonds”,to the amount of SaventrFf vs Thousand Dollars
($75,000.00)for th.purpose of refunding the outstanding indebted
ness of said Town to that amount.
Section 2.That the Mayor end Teen Clerk of said Town of
Estee Park he,and thq are hereby,authorized and directed to have
prepared the negotiable coupon bonds of the Town in said aggregate
amount of Seventy—Five Thousand Dollars ($75,000.00).
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Section 3.That saId bonds hereby authorized shall be
negotiable in fora,payable to bearer,shall hear date the First day
of October,A.V.1940,shall bear interest at the rate of Two and
Threa-Qiiarters Per O.ntue (2 3/4%)per &nnurn,payable seii-amiuafly
on the First day of April and the Tirst day or October in each year,
shall consist of eighty—nine (g9)bonds,nusbered froB one (1)to
eigh—niae (89),inclusive,in denominations of Oa Thousand Dollars
($1,ooo.oO)and Five Hundred Dollars ($500.00),aaturing as follows:
Bond Nuabere
1,2
3
4,5
6
7,8
9
10,11
12
13,14
15
16,17
18
19,20
22,23
24
25,26
27
28,29
30
31,32
33
3%,35
36
Denomintjon
e,000 •00
500.00
1,000.00
500.00
1,000 •00
OO .00
1,000 •00
500.00
1,000.00
500.00
1,000.00
1,000 •00
500.00
1,000 •00
500.00
1,000.00
500.00
1,000 •00
500.00
1,000.00
500.00
1,000.00
500.00
$aturit Ite
October 1,1942
October 1,1943
October 1,1941,
October 1,19L5
October 1,1946
Dotober 1,1947
October 1,1948
October 1,1949
October 1,1950
October 1,1951
October 1,192
October 1,1953
Total Amount
$2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
,500.00
2,500.00
2,500.00
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Bond Nub,rs Dácjnption
37,38
39
40,41
42
43,4.4
45
46,47
49,50
51
52,53
54
55,56,
60,61,
65,66,
70,71,
75,76,
80,81,
85,86,
$1,000.00
O0.00
1,000.00
500.00
1,000.00
500.00
1,000,00
500.00
1,000.00
500.00
1,000 •00
500 00
57,58,59 1,000.00
62,63,64,
67,68,69
72,73,74 1,000.00
77,78,79 1,000.00
82,*3,84 1,000.00
87,88,89 1,’00.0O
MatiritLy Date
October 1,1954
October 1,1955
October 1,1956
0cober 1,1957
October 1,1958
October 1,1959
October 1,1960
October 1,1963.
October 1,1962
October 1,1963
October 1,1964
October 1,1965
Total Aso’unt
Due Per Year
$2,500.00
2,500.00
2,500.00
2,500.00
,5O0.00
2,500.00
5,000 •00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
The princ1pal of said honda and th.interest accruing thereon ehail
be payable in lawful soaey of the United States of .merI.oa,at the
Office of the Town Treasurer in Estea Park,Colorado,or at the
First Kational Bank of D&wer,in Denver,Oolorado,at the option
of the holder thereof.
Said bonds shail be signed by the Mayor,countersigned by
the Treasurer,with the seal of the Town affixed thereto,and attested
by the Clerk of said Town.The interest accruing on said honda will
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be *videnoed by 3eat—annua1 interest coupons theretc attaoh.d,bear—
ing the eigraved facsimile signature of the Treasurer of said Town,
and whi so executed uoh coupons shall be the binding obligations
of the Toni according to their iaport.
3.ction 4.5aid bonds and coupons to be attached shall b.
in substantially the following fori:
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Q
USTTfl STATZS OF JZtCA
STATS 0?COLORADO COUNT!0?LIRtSER
TOWS OF STZS ?AZ
RflUWDhEO WATER EXTESION %ID
So.
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•i,ooo
500
The Town of Site.Park,in th.County of Lariser,and State
of Colorado,ror value received,hereby aakaoW3.dgea itself indebted
and prceisea to pay to the bearer herenf the ms of
ONE THOUSAND DOLLARS
FIVE HUNDRED DOLLARS
in lawful .ouy of the United States of An.rica,on the First day
of October,A.D.19 •with interest thr.ou fros the date here
of at the rate or and Thr.a-art.rs ?,r Centun (2 /4%)per
annua,payable aoui-annuall.y on the First day of April and the First
day of October in each year,as evidenced by interest coupons hereto
attachd,both principal interest being payable at the Offie.
of the Town Treasurer in Sates Park,Colorado,or at the First
National Bank of Dearer,in Denver,Colorado,at the optice of the
holder,ou presentation of said coupons and this bond respectively.
This bond ii issued by the Town of Sates Park for the pur
pos,of paing,rdeiag end refunding a like seount of outstanding,
‘unpaid,payable,lawful and valid bonded iadebtedn.ss of said Town,
and in exchange thrafor;under,by virtue of and in full onfor*i’
with the provisions of an Act of the General Assbly of the State
of Colorado,entitled,‘An Act to enable cities and towns to refund
their banded indebtedness’,approved March 16,1921,and appearing
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as sections 259 to 2(1?,inclusive,Ciapt.r 163,Colorado Statutes
Annotated,193,and all acts arandatory thereof end auppioneatal
thereto,end pursuant to an ordinance duly adopted by th•I3oard at
Trustees of 3aic Town at a 1*wful seating thereof,held prier to
the jsezaso.of this bond;and it is hereby oeztjfi4 end recited
that eli acts and things required to bi done and conditions and
things required to exist precedent to and in the issuing of this
bond to render the sane lawful and valid,bay happened,been
prep.ri..y don.and perfora.d,end did exist in regular and due ti,
fox’s sad aanasr as required by law;that th.total debt of said
Town at Est•s Park,including that of this bond,exceeds neither
the statutory nor the constitutional imitations of the State ef
Colorado,that said total debt is not increasd by the issuance
hereof,and that p ovisicu ha#bean sad.for the levy and collection
of a direct,annual tax on all the taxabis property in said Tw
sufficient to pay the interest on and the principal of this bond
whac,th.sane becos•due,and in addition,the net water revenues
of said Town,as the us.are defined in the ordinance anthorising
the issuance of this bc*d,hav,likewise bean pladgsd for such pay
santa.
Th*Lull faith and credit of the Town of Estee Park are
hereby pledged for th.punctual pement of tb.principal øf and the
interest on this bond.
1)ITSEU IflERE7,The Town .f Zst.m Park has caused this
bod to be signed by its Mayor,comtrsigned by the Treasurer,
sealed with its corporate seal,and attested by its Clerk,and has
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caused the azznezsd iat.rss’b coupons to be executed with the igrared
facplLa Lie signature of it.said Tr.asur.r,as of this First day of
Ootobr,A.D.19h0.
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Town CltTk
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(Fcr Of Coupon)
No,
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($1,ooo beads)—t)3.75
f$500 bonds)—6.S
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On the First day of L 1).19 ,,the Tows of
metes Park,in the State of Oearade,prosius to pay to barsr:
HIR?UW AND 75/100 D(LLARS
SIX AND S*/W0 tOLLAR8
311 AND 1/10O DDLIAR$
lgwtul aonay of the United Staten of A*erioa at the Offies of the
Town Treamirer n Estee Perk,Co1ordo,or at the First National $snk
of Denver,in Denr,Colorado,at the option of the holder,being
iz soothe’interest on its Iefunding Water t.nsiao bond,dated
October 1,A.I).l9%),
No.
_____
flaosisil.Simatvq
Town r.esurer
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Section 5.That when issued,the Refunding Water Extension
Bonds hereby authorised shall be exchanged dollar for dollar for the
indebtedness to be refunded,but said bonds shall not be issued until
th.outstanding bond to be rfunded has been surrendered and cancelled,
and all accrued iatar.st on said bond to be refunded shall be paid
before uoh Refunding Water Extension Bonds ar,issued.
Section 6.That for the purpose of meeting th.interest
accruing on said bonds as the same shall bacon.due,and in order to
pay the principal of said bonds as it beconee due aerially in the
years 1942 to 1965,inoluaive,thar.shall be levied on .11 of the
taxable prop.r17 in said Teen,in addition to all other taxes,direct,
annual taxes sufficient to produc.net axounts as follows at the
following tines,to—wit:
4
leer of Levy
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
or Inter
t2,062.50
2,062.50
1,993.75
1,925.00
1,856.25
1,787.50
1,718.75
1,650.00
1,581 •25
1,512.50
1,443.75
1,375.00
1,306.25
1,237.50
1,168.7
1,130.00
1,031.25
962.50
893.75
825.00
687.50
550.00
412.50
27 .3D
337.50
For 1rLnoit’i.
*2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
c,500.00
2,500.00
‘,500a00
2,500.00
2,500.00
5,000.00
5,000.00
5,000.00
5,000 •00
5,000.00
5,000 •00
Total Levy
er tear
*2,062.50
4,562.50
4,493.75
4,425.00
L,3c6..25
4,287.50
4,218.75
4,150.00
h.,081.25
4,012.50
3,943.75
3,875.00
3,80625
3,737.50
3,668.75
3,600.00
3,531.25
3,462.50
3,393.75
5,825.00
5,6!7.50
5,550.00
5,412.50
5,275.00
5,137.50
And said t,axee wha*collected shall be placsd in a fund to be celled
the “Redemption Fund to Pay Reftmdiag Water Extension Ponds,dated
October 1,1940w,and said taxes shall be applied solily for the
purpose of the payment of said interest and principal of said bouds
respectively,and for no ether purpose whatever until th@ bonds
authorized under this ordinance,principal and iatersai,shall have
been fully paid,sstiøfied and discharged,hut nothing herein con
tained shall be so construed as to prevent said Teen from applying
any other funds that say be in the treasury of said Town and aail—
able for that purpose,to the payment of the said interest or prin
cipal as the san.respectively mature,and it any other funds should
be so applied,the levy or levies harem prescribed ay thereupon to
that extent be diminished,
Section 7.AU revenues derived by the Town from the
operation of its wat.r,rorks systsn,after paying the cost and expense
of operation,necessary repairs,and maintenance,shall be deemed and
considered net revenues,and such net revenues shall be and the sane
ar,hereby irrevocably pledged for the payment of the indebtedness
evidenced by said bonds a*d the interest thereon.Upon such use of
said net revenues,the tax levies hereinbefore requizid may be re
duced as provided in Section 6 of this ordinance.
Section 8.At least ten fio)days before installments of
interest;and principal boccaa due on said bonds,the Town Treasurer
shall forward to The First National Bank of Denver,in Denver,
Colorado,an amount of money sufficient to meet said installments
and the Bank’s charges for handling the sane.
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3ection 9.That the provisions of this ordinance and .aoh
of the bonds and the i*terest coupons issued pursuant thereto shall
constitute and the same are hereby declared to be a binding and ir
revocable contract between said Town and the holder from time to
time ‘of each of said bonds and the interest coupons thereto apper—
taiT*ILX.
Section 10.That after said bonds are issued this ordinaio.
sh*ll not be altered or rep.aled until the bonds hereby authori3ed
shall hav,been fully paid,bath principal and interest.
Section U.AU ordinances or resolutions or parts thereof
in conflict with the provisions hereof be and the sane are hereby
repealed.
Section 12.That this ordinance being for the purpose of
preserving and maintaining th credit of said Town,it is hereby
declared that an enargeny exists,that this ordinance is neceasa
to the i.diata preservation of the public pea,health and safet-,
and shall be in full force and effect five (5)days after pu1’lcation.
Section 13.That this ordinance iviediat.ly upon its
passage shall be roordnd in the book of ordinances of said Town kept
for that purpoa.,authenticated by the signatures of the Uayor and
Clerk,and shall be published in the wEatas ?ark Trail,a nupper
of general circulation in said Town.
PASSED AND ADOPTED,SIGNED ND APPCVED,This l,9 dq
of September,A.L.1940.
(SEAL)i or
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Town Glerk
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It wag then moved by Trustee CA S anc
seconded by Trustee /N P€that all rules of this
Board which might prevent,unless suspended,the final passage and
adoption of this ordinance at this meeting,be and the same are hereby
suspended ror the purpose of permitting the final passing and adopting
of said ordinance at this meeting.
The question being upon the adoption of said motion and the
suspension of the rules,the roll was called with the following result:
Those voting Aye:Trustees A/V17 2 r’‘€,
(%Wey..lA/i
YD7 1A7’Cf7V
Those voting Hay:Trustees /VCfA/
/X .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 /A b thea moved that.said ordinance
heretofore introduced and read in full at this meeting,be now placed
upon its passage.Trustee frA 11 tc34/seconded the motion,
and the question being upon the placing of said ordinance upon its pas
sage,the roil was called with the following result:
Those voting re:Trustees )L1 Q2/6-.%-7 /1?ra.z
/
£%cv.ii c1/1 iDr 7ov’j fl/,+T%S’o’/iI
Those voting Nay:Trustees
_____________________________
The presiding officer declared
placed upon its passage.
Trustee T
dinance be passed and adopted as read.
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ordinance
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the motion carried and the
then moved that said or—
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Trustee )4 4 .j C.-ftT seconded the motion.
The question being upon the passage and adoption of said
ordinance,th.roil was called with the following result:
Those voting Aye:Trustees A2//’/,/‘J’?d,O/6,
s7cii ,‘,j-,V
Those voting Nay:Trustee.—
The presiding officer thereupon declared that three—fourth.
of all the Trustees elected having voted in favor thereof,the said
motion was carried and the said ordinance duly passed and adopted.
On motion duly adopted,it raa ordered,that said ordinance
be numbered
_________
and after approval by the mayor,be published
s in aaid ordinance provided,and be recorded according to law.
(SEAL)Mayor
ATTEST:
V
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STATE OF cOLoRADo )
)
COUNTY OF LAIMER )
TON Of ESTES PABK
I,Verne H.Fanton,Town Clerk of the Town of Estee Park,
Colorado,do hereby certify that the foregoing pages nunbered one
Ci)to twenty—two (22),tnc1iie,are a full,true and correct copy
of the record of the proceedings of the Board of Trustees of said
Town,taken at a -F c°C,/4 1—meeting held on t.he 1,9’
day of S.pteuber,A.1.).1940,so far as said ainutes relate to tha
adoption of a reo1ution and an ordinance,copies of which are
therein set forth;that said copies of said resolution and ordinance
contained in eaid minutes are full,tnto,and corr€ct copies of the
originals of said resolution and ordinance as introduced,read,
passed and adopted at said meeting;that said original resolution
end ordinan’e have been duly authenticated by the signatures of the
presiding officer of the Board of Trustees and ayaelf as Clerk and
Recorder of said Town,and sealed ‘th the corporate seal of said
Town,and signed and approved by the Mayor thereof;that said or
inanoe has been recorded in the book of ordinances of said Town
kept for that purpose in y office,which record has been duly
signed by the said officers and aealed with the aesi of said Town;
and that said ordinance was on Septber 2-0 •1940,published
in full in the “Estes Park Trail”,a newspaper of general circulation
in the Town of Estee Park,Colorado.
I further certify that the Mayor and ‘/X nemb era
of the Board of Trustees were pres.nt at said meeting,and that
—23—
members of aaid Board voted on the passage of
said resolution enr ordinance as in said minutes set forth.
IN WIT!4E88 WHER?,I have hereunto et *y hans and affixed
the sea].of said To’sn,this 2-0 day of Septeaber,A.1).1940.
(sEAL)
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Toin Clerk
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,1.
STATE Of I1OBADO )
)
OUJY OF LAIIIMER )SS.
)
TOTSOPESTESPARK )
The Board of Trustees of the Town of Eete Park,Colorado,
met in SP LC /A-1—session,in full conformity
with law and the ordinances and rules of the said Town,at
€7W?v’1L.%L-I-,in said Town,being the reg.lar place of
meeting of said Board,on 7)uIs Ot%V the ,‘7 dey
of September,A.D.1940,at //0 o’clock ‘.M.,at
which meeting there were present and answering at roll call:
Mayor:C.N.Rockwell
Trustees:Guy W.ilbright
H.C.Brodie
G.E.Casey
H.H.Lindley
Glen H.?rc.ton
George H.Watson
Also Present:Verne H.Fenton,Town Clerk
Absent:
—A/a /Y ‘E..
Thereupon,the following proceedings,among others,were had
and taken,to—wit:
Trustee 4L-’,Q /7’/7 introduced a resolution
with reference to the refunding of the outst&iding bonded indebtedness
of the Town in the aggregate amount of $eventy—Pive Thousand Dollars
($75,000.00),described as follows:
—1—
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Seventy-Five Thousand Dollars (75,0OO.0O)Torn of
Estes Park,Colorado,Water Fxtenaion Bond,dated
September 15,l9ID,due Septb.r 15,1950,redeem
able at any time prior to maturity,bearing in
terest at the rate of Two and Three—Quarters Per
Centus (2 3/4%)per annum,payable semi—annually,
and consisting of one (1)bond in the denomination
of Seventy—Five Thousand Dollars ($75,000.00),
numbered One (1);
which resolution wee thereupon read in full,and is in words and
figures as followe,to—wit:
RESOLUTION
WHEREAS,The Town of Estee Park has outstanding end unpaid
a bonded indebtedness to the amount of Seventy—Five Thousand Dollars
($75,000.00),particularly described as follows,to—wit:
Town of Eates Park,Colorado,Water Extension Bond,
dated September 15,1940,due September 15,1950,
redeemable at any time prior to maturity,bearing
interest at the rate of Two and Three—Quarters Per
Oentum (2 3/4%)per anm,payable semi—annually,
and consisting of one (1)bond in the denoination
of Seventy—Five Thousand Dollars f$7s,ooo.o)),
numbered One Ci);
and
WHEREAS,Said bond may be refunded under the laws of the
State of Colorado,and thus the time for the payment of the said in
debtedness extended;and
WHEREAS,There are no funds in the treasury of said Town
available for the redemption of said bond;end
WHEREAS,The Board of Trustees is of the opinion,and so
finds,orderm,certifies and determines,that said indebtedness may
and should be refunded and the time for payment thereof extended
by the issuance of refunding bonds of said Town,in pursuance of the
(-,
provisions of an Act of the General Assembly of the State of Colorado,
entitled:“An Act to enable cities and towns to refund their bonded
indebtedness”,approved tAarch 16,1921,and appearing as Sections 259
to 267,inclusive,Chapter 163,Colorado Statutes Annotated,1935,
and all acts amendatory thereof and supplemental thereto,
NOW,ThEREFORE,BE IT RESOLVED By the Board of Trustees of
the Town of Estes Park,that the said Town of Estes Park shall issue
and cause to 5.exchanged dollar for dollar for the bond to be re
funded under the provisions of the Act hereinbefore referred to,new
bond of the Town to be denominated “Refunding Water Extension Bonds”,
in the aggregate principal amount of Seventy—Five Thousand Dollars
($75,000.00),bearing date October 1,A.D.1940,bearing Interest
at the rate of Two and Three—Quarters Per Centum (2 3/4%)per annum,
which rate of interest does not exceed the rate upon the bond to be
refunded,payable sei—annua1ly on the First day of April and the
First day of October in eoh year,said bonds maturing as follows:
Two Thousand Five Hundred Dollars ($2,500.00)thereof
in consecutive order on the First day of October in
each of the years 1942 to 1959,inclusive;and Five
Thousand Dollars ($5,000.90)thereof in consecutive
order on the First day of October in each of the years
1960 to 1965,inclusive;
said R.fimding Water Extension Bonda to be exchanged dollar for dol
lar for the bond to be refunded,as provided by the Act authorizing
the issuance of the same;and
BE IT FURTHER RESOLVED,That said Board of Trustees of the
Town of Eates Park deterrnine,and it does hereby determine,that the
amount of the said Refunding Water Extension !onds to be issued as
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4)$4...44)J4)$4)otoob•o::s00oq$4a)a).4).a)•d0a)r11•4•T$a)0i-.1r-4oC)‘.0•4)C)0a)goMa4)a)•0•0,,.4.r40I$4a)‘C)$4a)0a)0)0•a)•+0I-IC)a)r4a)‘C)4.0+i0•4)144‘C)a)0r4000••0••$4144)0oo334-a)0:1..—.-.,..,,..-..-_1A---L
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STATE OF coioao )
)
COUNT!OF LABIMER )$5.CERTIFICATE OF DETERMINATION
)
TOfl OF ESTES PARK )
WHEREAS,The Town of Estea Park,in pursuance of proceed
ings lawfully had and taken,proposes to issue its Refunding Water
Extension Bonds in the aggregate amount of Seventy—Five Thousand
Dollars ($75,000.00)to refund certain outstanding bonded indebted—
ness of said Town,and to pay which there are no funds In the
treasury of said Town available,to—wit:
Town of Estee Park,Colorado,Water Extension Bond,
dated September 15,1940,due September 15,1950,
redeemable at any time prior to maturity,Iring
interest at the rate of Two and Three—Quarters Per
Centum (2 3/4%)per annum,payable semi-annuaily,
and consisting of one (1)bond in the denomination
of Seventy—Five Thousand Dollars ($75,000.00),
numbered One (1);
and
WHEREAS,The law under which said Refunding Water Exten
sion Bonds must be issued requires the Board of Trustees to
determine the amount of Refunding Water Extension Bonds to he issued
and to make and enter upon the records of the Town &certificate of
such determination prior to the issuance of #aid bonds:
NOW,THEREFORE,IN CONSIDERATION OF THE PR!21ISE$,
IT IS HERI CERTIFIED AND RECITED 3!THE BOARD
OF TRtT$TEE$OF THE TOWN OF ESTER PARK,IN THESTATEOFCOLORADO,AS FOLLOWS,TO-WIT:
1.That such Refunding Water Extension Bonds have as yet
not been issued.
2.That the amount of said Refunding Water Extension Bonds
to be issued for the purpose of refunding a like amount of the
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•n (Th
‘
outstending lawful bonded indebtcdncs of the said Town above de—
scribed i hereby deteriiiined to be the m of Seventy—Five Thousand
Doflara ($75,000.00).
IN WITNESS WHEREOF,The Board of Trustees of the Town of
Estea Park has caused this Certificate of Detertntion to be signed
by the Mayor and attostd by the Town Clerk,under the seal of said
Town,this 1 9 day of Septeeiber,A.D.1940.
(SEAL)
ATTEST
Mayor
Town Cler]k
/
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______________
3,
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SEAL)
ATTEST:
Town C1erk
ADOPTE])AND A??ROv Thj day of September A.D.
1940.
U ‘
I.
1
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The question being upon the adoption of said resolution as
read,the roil was called with the following result:
Thos.voting Aye:Trustees ,,&/2 //‘/6,)
Cey.
7.7
Those voting lay:
_______________________________________
The Mayor,as presiding officer,thereupon declared the
resolution adopted.
Thereupon Trustee rr -introduced
an ordinance entitled:
WAn Ordinance providing for the issuance by the Town
of Estee Park,in the State of Colorado,of its
negotiable coupon bonds in the aggregate amount of
$eventy—Fivo Thousand Doilare ($75,000.00)to be
designated tRefunding Water xtension Bonds’,for
the purpose of refunding a like amount of the out
standing bonded indebtedness of said Town,prescrib
ing the form of said Refunding Water tension Eonda,
providing for the levy and coileotion of an annual
tax and the pledge of water revenues to pay the
same,principal and interest;repealing all ordinances,
resolutions,or parts thereof,in conflict here
with and declEiTing an ergencyu;
which ordinaace was thereupon read in full,and is as follows,to—wit:
a
Pgy-c:tiqItwasthereuponmovedbyTrustee
and seconded by Trustee /k 1)/-
be adopted as read.
that said resolution
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