HomeMy WebLinkAboutMINUTES - Estes Park General Improvement Sewer District No. 1 1970-07-13 - Special MeetingSTATE OF COLORADO )
COUNTY OF LARIMER ) ss.
ESTES PARK GENERAL IMPROVEMENT )
SEWER DISTRICT NO. 1 )
NOTICE OF ,5-/eavyaj MEETING
70r,?/4tir
Board of Trustees of the Town of Estes Park, ex-officio Board of
Directors of Estes Park General Improvement Sewer District No. 1,
will be held at the Town Hall, Estes Park, Colorado, on Monday,
the 13th day of July, 1970, at the hour of 74e,
o'clock �.M.,
at which meeting the Board will consider and take action relating
to the sale of bonds for sanitary sewer purposes.
GIVEN under our hands and the seal of the District this
22nd day of June, 1970.
C
NOTICE is hereby given that a
S E A L )
meeting of the
Presi��n'
Secretary
ACKNOWLEDGMENT OF NOTICE
AND CONSENT TO zti.,, MEETING
u
We, the undersigned, members of the Board of Trustees of
the Town of Estes Park, ex-officio Board of Directors of Estes Park
General Improvement Sewer District No. 1, Estes Park, Colorado, do
hereby acknowledge receipt of the foregoing notice of a
meeting, and we hereby waive any and all irregularities, if any,
in such Notice and in the time and manner of service thereof upon
us, and consent and agree to the holding of such meeting at the
time and place specified in said Notice, and to the transaction of
any and all business which may come before such meeting.
tC �
- 44 -
STATE OF COLORADO )
)
COUNTY OF LARIMER ) ss.
ESTES PARK GENERAL IMPROVEMENT )
SEWER DISTRICT NO. 1 )
' The Board of Trustees of the Town of Estes Park, ex-officio
the Board of Directors of Estes Park General Improvement Sewer Dis-
trict No. 1, met in „s;:0� session at the Town Hall, in Estes
Park, Colorado, on Monday, the 13th day of July, 1970, at the hour
of 9,
taken.
o'clock fi .M.
There were present:
Mayor, ex-officio
Chairman and President: Ronald C. Brodie
Trustees, ex-officio
Directors: Gerald H. Brownfield
Henry D. Dannels
N. T. Petrocine
Glenn Prosser
Marvin L. Steele
Harry B. Tregent
Also present:,
Town Clerk, ex-officio
Secretary:
Dale G. Hill
Town Treasurer,
ex-officio Treasurer: Henry D. Dannels
Absent: „i'2
The following proceedings, among others, were had and
Thereupon Director
.4 introduced and
there was read in full the following Ordinance:
WILLSON a LAMM
ATTORNEYS AT LAW
DENVER, COLORADO
- 45 -
ORDINANCE NO. 2-/yX'
AN ORDIANCE AUTHORIZING THE ISSUANCE OF.
BONDS OF ESTES PARK GENERAL IMPROVEMENT
SEWER DISTRICT NO. 1, ESTES PARK, COLO
RADO, FOR THE PURPOSE OF PROVIDING FUNDS
FOR CONSTRUCTION OF A COMPLETE SANITARY
SEWAGE COLLECTION AND TRANSMISSION SYSTEM,
FACILITIES AND SERVICE, TOGETHER WITH ALL
INCIDENTAL AND APPURTENANT FACILITIES,
PROVIDING FOR THE LEVYING AND COLLECTION
OF TAXES TO PAY SAID BONDS, AND DECLARING
AN EMERGENCY.
WHEREAS, at a special election heretofore held in Estes
Park General Improvement Sewer District No. 1, Estes Park, Colorado,
duly called and held on the 9th day of June, 1970, in accordance
with law and pursuant to due notice, the electors of said District
did approve the issuance of bonds of said District in the amount
of $80,000, for the purpose of providing funds for construction of
a complete sanitary sewage collection and transmission system,
facilities and service, together with all incidental and appurtenant
facilities; and
WHEREAS, the returns of said election were duly canvassed
and the result thereof duly declared; and
WHEREAS, notice of sale of said bonds has been duly given
and bids received and it appearing that the bid of/ireh/2°) /awe aiitia° ,
oja_ s'r/ee 0 754 yip �d , is the highest and best bid
for Fsaid bonds; and
WHEREAS, the Board now desires award said bonds to said
bidder and to authorize the issuance of the said $80,000 of bonds
as approved at the election on June 9, 1970;
THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
TOWN OF ESTES PARK, ACTING AS EX-OFFICIO THE BOARD OF DIRECTORS OF
ESTES PARK GENERAL IMPROVEMENT SEWER DISTRICT NO. 1, ESTES PARK,
COLORADO:
WauON $ LAMM
ATTORNEYS AT LAW
DENVER. COLORADO
- 46 -
1. That for the purpose of providing funds in the
amount of $80,000 for the purpose of constructing a complete sanitary
sewage collection and transmission system, facilities and service,
together with all incidental and appurtenant facilities , the Dis-
trict shall issue its negotiable coupon bonds,each to be designated
"General Obligation Sewer Bond", in the aggregate amount of $80,000,
dated August 1, 1970, consisting of 80 bonds in the denomination of
$1,000 each, numbered 1 to 80, inclusive, payable in lawful money
of the United States of America, to bear interest payable February
1, 1971, and semi-annually thereafter on February 1 and August 1
each year, as evidenced by interest coupons to be attached to said
bonds, and to be due and payable serially on August 1, as follows:
Amount Maturity Interest Rate
$ 1,000 1971 G 1/1
2,000 1972 6 0
2,000 1973 6 �°
5,000 1974 7°
5,000 1975 6• /a
$ 5,000 1976 6•.�0
5,000 1977
5,000 1978 6, •w%
10,000 1979 G.so
10,000 1980 G' G0 %a
$10,000 1981 6 �0
10,000 1982 7av
10,000 1983 7,00,
Bonds of this issue maturing on or before August 1,
1980, shall not be redeemable in advance of their respective matur-
ities. Bonds maturing in the years 1981 to 1983, inclusive, shall
be redeemable at the option of the District, in inverse numerical
order, on August 1, 1980, and on any interest payment date there-
after, upon payment of par and accrued interest, plus a premium of
2% of principal.
- 47 -
The principal of and interest on said bonds shall
be payable at the office of the Town Treasurer, ex-officio Treasurer
of the District, in Estes Park, Colorado.
Said bonds shall be executed in the name and on
behalf of said District with the facsimile signature of the President
of its Board of Directors, shall bear an impression of the seal of
the District, attested by the signature of the Secretary, and each
of said bonds shall have attached thereto coupons securing the pay-
ment of the interest accruing thereon as it falls due; each coupon
shall bear the facsimile signature of the President of the Board of
Directors and said coupons, when issued as aforesaid as part of said
bonds, shall be the lawful promises and obligations of said District
securing the payment of said interest as it becomes due. Should
any officer whose signature or facsimile signature appears on said
bonds or the coupons thereto attached cease to be such officer
before delivery of the bonds to the purchaser, such signature shall
nevertheless be valid and sufficient for all purposes.
2. Said bonds and the coupons thereto attached shall
be in substantially the following form:
- 48 -
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF COLORADO
COUNTY OF LARIMER
ESTES PARK GENERAL IMPROVEMENT SEWER DISTRICT NO. 1
GENERAL OBLIGATION SEWER BOND
No. $1,000
Estes Park General Improvement Sewer District No. 1, in
the Town of Estes Park, Larimer County, Colorado, for value received,
hereby acknowledges itself indebted and promises to pay to the bearer
hereof the principal sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America, on the 1st day of
August, 19_, with interest thereon at the rate of
per centum ( %) per annum,
payable February 1, 1971, and semi-annually thereafter on the lst
day of February and the lst day of August, each year, as evidenced
by interest coupons hereto attached, principal and interest being
_payable at the office of the Town Treasurer, ex-officio Treasurer
of the District, in Estes Park, Colorado, upon presentation and sur-
render of said coupons and this Bond, as they severally become due.
Bonds of this issue maturing on or before August 1, 1980,
shall not be redeemable in advance of their respective maturities.
Bonds maturing in the years 1981 to 1983, inclusive, shall be re-
deemable at the option of the District, in inverse numerical order,
on August 1, 1980, and on any interest payment date thereafter,
upon payment of par and accrued interest, plus a -premium of 2% of
principal.
-49-
This Bond is issued by the Board of Directors of Estes
Park General Improvement Sewer District No. 1 for the purpose of
providing funds in the amount of $80,000 for the purpose of con-
structing a complete sanitary sewage collection and transmission
system, facilities and service, together with all incidental and
appurtenant facilities, by virtue of and in full conformity with
the Constitution of the State of Colorado, Chapter 89, Article 4,
Colorado Revised Statutes 1963, as amended, and all other laws of
the State of Colorado thereunto enabling; and it is hereby certified
and recited that all the requirements of law have been fully com-
plied with by the proper officers of said District in issuing this
Bond.
It is further hereby certified, recited and warranted
that the total indebtedness of said District, including that of
this Bond, does not exceed any constitutional or statutory limita-
tion of the State of Colorado; that at an election lawfully held
in the District on the 9th day of June, 1970, the issuance of this
Bond was authorized by the duly qualified electors of the District;
and that provision has been made for the levy and collection of a
direct annual tax on all the taxable property within the District,
sufficient to pay the interest on and the principal of this Bond
as the same respectively become due. This Bond does not constitute
an indebtedness of the Town of Estes Park, Colorado, within the
meaning of any Constitutional or statutory limitation.
The full faith and credit of said District are hereby
pledged for the punctual payment of the principal of and the in-
terest on this Bond.
- 50 -
IN TESTIMONY WHEREOF, Estes Park General Improvement
Sewer District No. 1 has caused this Bond to be executed in the
name and on behalf of said District with the facsimile signature
of the President of its Board of Directors, sealed with an impres-
sion of the seal of the District, attested by the Secretary thereof,
and the coupons to be signed with the facsimile signature of its
President, as of the 1st day of August, 1970.
( SEAL )
ATTEST:
(Manual Signature)
Secretary
ESTES PARK GENERAL IMPROVEMENT
SEWER DISTRICT NO. 1
By (Facsimile Signature)
President
- 51 -
(Form of Coupon)
No. $
February,
On the 1st day of August, 19, unless the bond to
which this coupon is attached, if callable, has been called for
prior redemption, Estes Park General Improvement Sewer District
No. 1, in the Town of Estes Park, Larimer County, Colorado, will
pay to bearer
DOLLARS
in lawful money of the United States of America, at the office
of the Town Treasurer, ex-officio Treasurer of the District, in
Estes Park, Colorado, being interest then due on its General
Obligation Sewer Bond, dated August 1, 1970, bearing
No.
(Facsimile Signature)
President
- 52 -
3. Said bonds, when executed as provided by law, shall
be delivered to the purchaser thereof in accordance with the con-
tract of purchase, and the proceeds derived therefrom shall be
used for the purpose recited in said bonds and for the purpose of
paying expenses necessary, proper and incidental to their author-
ization and issuance, but neither the purchaser of said bonds nor
the subsequent holder of any of them shall be in any way respon-
sible for the application of the proceeds of said bonds by said
District or any of its officers.
4. If necessary, the interest due on said bonds on
February 1, 1971, shall be advanced from any fund of the District
available therefor. For the purpose of reimbursing such fund and
paying the interest on and principal of said bonds as the same
shall become due and payable, respectively, there shall be levied.
by the Board of County Commissioners of Larimer County, Colorado,
.on all the taxable property in said District, in addition to all
other taxes, direct annual taxes in each of the years 1970 to 1982,
inclusive, sufficient to reimburse such advance and produce the
interest on and principal of said bonds as the same become due and
payable respectively. Said taxes, when collected, shall be deposited
in a special fund to be known as "Estes Park General Improvement
Sewer District No. 1 Bond Fund", and such Fund shall be applied
solely to the purpose of reimbursing said advance and for the pay-
ment of the interest on and principal of said bonds, and for no
other purpose whatever, until the indebtedness so contracted under
this Ordinance, both principal and interest, shall have been fully
paid, satisified and discharge; but nothing herein contained shall
be so construed as to prevent said District from applying any other
- 53 -
funds or revenues that may be in the District Treasury and available
for that purpose, to the payment of said principal or interest, as
the same respectively mature, and upon any such payment, the levy
or levies herein provided may be diminished to the extent of such
payments; and the foregoing provisions of this Ordinance are hereby
declared to be the certificate of the Board of Directors of said
District to the Board of County Commissioners of Larimer County,
showing the -aggregate amount of taxes to be levied for the purpose
aforesaid by said Board of County Commissioners from time to time
as required by law, for the purpose of paying the principal of said
bonds and the interest thereon as the same shall hereafter accrue.
5. It shall be the duty of the Board of Directors of
said District, annually, at the time and in the manner provided by
law for levying other District taxes, if such action shall be nec-
essary to effectuate the provisions of this Ordinance, to ratify
and carry out the provisions hereof with reference to the levying
and collection of taxes; and said District shall levy, certify and
collect such taxes in the manner provided by law, for the purpose
of creating a fund for the payment of the principal of said bonds
and the interest thereon, and such taxes when collected shall be
kept for and applied only to the payment of the interest on and
principal of said bonds, as hereinabove specified.
6. That the contract for purchase of said bonds is
hereby awarded to ifroket; /p/-f lj2A/7 LO,
of wC/; ( % . , the highest and best bidder
therefor, in accordance with the Notice of Sale and the bid of said
bidder, at a net effective interest rate ofl•ff To,
Go /C / 7J C' /v c e s a .0 2.s" vim✓/ O /i .�/. z b ,
- 54 -
7. All ordinances or parts thereof in conflict with
this Ordinance are hereby repealed.
8. After said bonds are issued, this Ordinance shall
be and remain irrepealable until said bonds and the interest there-
on shall have been fully paid, satisfied and discharged.
9. That if any one or more sections or parts of this
Ordinance shall be adjudged unenforceable or invalid, such judgment
shall not affect, impair or invalidate the remaining provisions of
this Ordinance, it being the intention that the various provisions
hereof are severable.
10. That since it is urgent that adequate sewer service
be provided to the district area at the earliest possible date in
order to terminate health hazards therein existing, it is hereby
determined and declared that an emergency exists and that this
ordinance is necessary for the immediate preservation of the public
peace, health and safety, that it shall be placed in the records
upon its passage and adoption, published in full in the Mountain
Gazette, a newspaper published and of general circulation in the
Town of Estes Park,in the first possible edition and that it shall
be in full force and effect five days after said publication.
INTRODUCED, READ, ADOPTED AND APPROVED This 13th day of
July, 1970.
ATTEST
Town Clerk
ex-officio Secretary
Mayor
Ex-officio President
- 55 -
It was thereupon moved by Director
and seconded by Director %7� that the foregoing
ordinance be adopted and approved as read.
The question being upon the adoption of said Ordinance
the roll was called with the following result:
Those voting AYE:
Mayor, ex-officio
Chairman and President: Ronald C. Brodie
Trustee, ex-officio
Directors: Gerald H. Brownfield
Henry D. Dannels
N. T. Petrocine
Glen Prosser
Marvin L. Steele
Harry B. Tregent
Those voting NAY: /d
The Mayor, ex-officio President, thereupon declared that,
more than three -fourths of all the Trustees, ex-officio Directors,
having voted in favor thereof, the said motion was carried and the
said Ordinance duly passed and adopted.
On motion duly adopted, it was ordered that said Ordinance
be numbered a_ /97e, and after approval by the President, be pub-
lished in the Mountain Gazette, a newspaper of general circulation
within the Town of Estes Park.
After consideration of other business to come before the
Board, the meeting was adjourned.
L )
Town Clerk, ex -off icio
Secretary, Estes Park General
Improvement Sewer District No.1
„C)/a7
42(777 Cam -'-
Mayor, ex-officio President,
Estes Park General Improvement
Sewer District No. 1
- 56 -
STATE OF COLORADO )
)
COUNTY OF LARIMER )
)
ESTES PARK GENERAL IMPROVEMENT )
SEWER DISTRICT NO. 1 )
ss.
I, Dale G. Hill, Clerk of the Town of Estes Park, Colo-
rado, ex-officio Secretary of Estes Park General Improvement Sewer
District No. 1, do hereby certify that the foregoing pages numbered
45 to 56, inclusive, constitute a true and correct copy of the re-
cord of that portion of the proceedings of the Board of Trustees
of said Town, acting as the ex-officio Board of Directors of Estes
Park General Improvement Sewer District No. 1, taken at a regular
meeting of said Board, held at the Town Hall, Estes Park, Colorado,
being the regular meeting place of said Council and Board, on Mon-
day, July 13, 1970, insofar as said proceedings relate to the adopt-
ion of an Ordinance relating to the Authorization, Sale and issuance
of Bonds, and that Notice of said meeting of the Board was duly
and properly given as required by Law, in the form hereinbefore set
forth at page 44.
IN WITNESS WHEREOF, I have hereunto set my hand and the
seal of Estes Park General Improvement Sewer District No. 1, this
/3 day of .J o 17 , 1970.
( S E A^L )
Town C1erk,ex-off icio
Secretary
- 57 -
(Attach Affidavit of Publication of Ordinance No.
PROOF OF PUBLICATION
STATE OF COLORADO
County of Larimer
)ss.
Bill F. Murray, being duly sworn, deposes and says:
1. That he is the publisher of The MountainGazette,
a weekly newspaper published in the City of Estes
Park, County of Larimer, and State of Colorado.
2. That the said The Mountain Gazette is published
at regular intervals once each week, on Thursday, and
that it has a general circulation in the County of Lari
mer, and elsewhere.
3. That the said The Mountain Gazette was estab-
lished and has been published in said County unin-
terruptedly and continuously during a period of at least
fifty-two consecutive weeks next prior to the first
issue thereof containing said
Notice Ordinifnco no. 2-1970
a copy of which is hereunto attached.
4. That the said The Mountain Gazette is a weekly
newspaper of generalcirculation and is published in
whole or in part in the said County of Lorimer in which
said
Notice Ordinance 11o. 2-1070
is required by law to be published, a copy of which is
hereunto attached.
5. That the said The Mountain Gazette is a weekly
newspaper within the meaning of an act concerning
Legal Notices and Advertisements being Chapter 109
of the Colorado Revised Statutes of 1953.
6. That the said annexed
Notice Ordinance no, 2..1070
was published in the regular and entire edition of The
Mountain Gazette, a duly qualified weekly newspaper
for that purpose, within the terms and meanings of the
above named Acts.
7. That the said annexed
Notice Ordinance no..2-./970
is a full, true and correct copy of the original which
was regularly published in each of the regular and en-
tire issues of said newspaper, a regularly qualified
paper for that purpose, once each week, on the same
day of each week for AMR— __ successive weeks by
ono
insertions and that the first publication
thereof was in the issue dated eh212 19
1970 , and that the last publication was in the issue
dated
•
,19
1+bscribed_-aad swor n tolefore me this
dam 01 zsft2 g y
Usher.
6th
19
Notary rublic
My commission expires 19
MY COMMISSION EXPIRES JAN. 17, 1971
LEGALS p k� andea a interest AGENCY
ORDINANCENO Y-1970 - trice nett for the purpose of prl
the amountof$80,000forthepurpc LONGMONT, COLD.
AN ORDINANCE AUTHORIZING THE IS flog a complete sanitary sewage
SUANCE OF BONUS OF ESTES PARK GEN- transmission system, facilities y
an.r. IMPROVEMENT cavern rmrntrrrvn. gather with all incidental and ap i BUYS
$10,000
10,000
10,000
Bonds of thi
Secretary
(Form of Coupon)
No•—
On the 1st day of February, August, l9—,
unless the bead to which this capon is attached,
if callable, has been called for prior redemption,
Estes Park General Improvement Sewer District
No. 1, In the Town of Estes Park, Larimer
County, Colorado, will pay to bearer
DOLLARS
in lawful money of the United States of America,
at the office of the Town Treasurer, ea-oficio
Treasurer of the District, in Estes Park, Colo-
rado, being Interest then due cc its General Ob-
ligation Sewer Bond, dated August 1,1970, bearing
No,
(Facsimile Signature)
•
President
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ANdd1YO0 DN/AVd
NOWJ.V1d
ng such fund and paying the
Ues, by virtue of and in full cold •
1, ESTES PARK, COLORADO, FOR THE ConstitutiOn of the State of Colora
PURPOSE OF PROVIDING FUNDS FOR CON- Anici., coiondo ,oised
STRUCTION OF A COMPLETE SANITARY amended,' and all other laws
SEWAGE COLLECTION AND TRANSMISSION Colorado ,thereunto enabling; an
the law have been fully complied trcl,es 'dishwasher, stove,
SYSTEM, FACILITIES AND SERVICE, TO- certified and recited that all the
GETHER IVTIE ALL INCIDENTAL AND AP -
THE LEVYING AND COLLECTION OF TAXES per officers of said District in \
It Is further hereby certified, re beautiful view of Lake
PURTENANT 'FACILITIES, PROVIDING FOR
ranted that the total indebtedness of \ make us a.n offer.
TO PAY SAID BONDS, AND DECLARLNG AN
Including that of Ws Bond, does no ,,rdo,. room,
constitutional or statutory limitation electric
WHEREAS, at a special election heretofore
the District on the 9111 day of June, 19.
,try Club Estates.
of Colorado; that at an election kiwi.
held In Estes Park General Improvement Sewer
District No. 1, Estes Park, Colorado. duly called
and held on the 9th day attune, 1970, in accord- Suance of Ws Bond was authorized b)way 7 - zoned
qualified electors of the I:Ostrich and thS,a,
ance with law and pursuant to due notice, the
Ion has been made for the levy and colleo,
within the District, sufficient to pay the 'nily dwelling.
electors of said District did approve the issuance
a direct annual tax on MI the taxable p1a
of bonds of said District in the amountof S80,000,
on and the principal of this Bond as the ke a look at
' for the purpose ofproviding funds for construcUon
of a complete sanitary sewage collection and
respectively become due. This Bond does no:
transmisslon system, facilities and service, to-
stitute an indebtedness of the Tovm of Estes 2
gether with all incidental and appurtenant tacit -
The faith and credit of said District a homes.'
Colorado, within the meaning of anyConstituth
Ries; and
or statutory limitation.
WHEREAS, the returns of said election were
duly canvasted and the result thereof duly de -
hereby pledged for the punctual payment of th
WHEREAS, not' ice of sale of said bonds has principal of and the Interest on this Bond.
IN TESTIMONY WHEREOF, Estes Park Gen -
been duly given end bids receivedand It appearing
that the bid of Kirchner, Moore and Co.,at a price
this Bond to be executed in the name and on behalf
of $78,488.80, is the highest and best bid for said
of said District with the facsimile signature of the
bonds; and
President of its Board aDirectors, sealed with an
WHEREAS, the Board now desires award said
impression of the seal of the District, attested by
bonds to said bidder and to authorize the issuance
the Secretary thereof, and the coupons tobe signed
of the said $80,000 of bonds as approved at the
wilt the facsimile signature of its President, as of
the 1st day of August, 1970.
THEREFORE, BE IT ORDAINED BY THE
ESTES PARK GENERAL IMPROVEMENT
BOARD OF TRUSTEES OF THE TOWN OF ESTES
SEWER DISTRICT NO. 1
PARK, ACTING AS EX-OFFICIO THE BOARD OF
By (Facsimile Signature)
DIRECTORS OF ESTES PARK GENERAL IM-
Presideut
PROVEMENT SEWER DISTRICT NO, I, ESTES
PARK, COLORADO:
L. Ltrat tor Me' purpose of providing-funds-
--(Mannal Signature)
in the amount of $80,000 for the purpose of con-
structing a complete sanitary sewage collection
and transmission system, facilities and service,
together with all incidental and appurtenant facil-
ities, the District shall isaue its negoUable coupon
bonds, each to be designated "General Obligation
Sewer Bond," in the aggregate amount of seo,000,
dated Aukust 1, 1970, consisting of 80bonds in the
denomination of $1,000 each, numbered I to 80,
inclusive, payable In lawful money of the United
States of America, to bear interest payable Feb-
ruary 1, 1971, and semi-annually thereafter on
February I and August 1 each year, as evidenced
by interest coupons to be attached to said bonds,
and to be due and payable serially onAugust 1, as
frAlimmousnt Matdrity Interest Rate
6% 3. Sald bonds, when executed as provided by
11997745
in accordance with the contract of purchase, and
law, shall be delivered to the purchaser thereof
the proceeds derived therefrom shall be used for
$ 55:000000 1976 6.20% the purpose recited in said bonds and for the pur-
1997798 6.30% pose of paying expenses necessary, proper and in-
6.50% neither the purchaser of said bonds for the sub -
Mental to their authorization and issuance, but
sequent holder of any of them shall be in any way
198I 6.80% responsible for the application of the proceeds of
kofrisAy said District or smy of its officers.
sari,. the interestdueonsaid bonds
971, shall be advanced from any
available therefor. For the
pal of said bonds as the
Atom!
payable, respectively,
, Colorado, on all
11 in each of the
nt to ram-
est on and
e and
- 58 -
KIRCHNER, MOORE AND COMPANY
718 SEVENTEENTH STREET • DENVER. COLORADO 80202
Board of Trustees
Town of Estes Park
Estes Park, Colorado
Gentlemen:
Telephone 292-1600
In full accordance with your Official Notice of Sale, dated June 22, 1970 ,, which by
reference is made a part of this bid, for $80, 000. 00 of legally issued General Obligation
Sewer Bonds of Estes Park, Colo. , Gen. Impr. Sewer Dist. No. 1
we will pay you $ 981. 1 lfor each $1, 000 bond, plus accrued interest from date of issue to.
date of delivery to us, for bonds bearing interest and maturing as follows:
Amount Maturity Coupon
$ 1,000 8-1-71 6 %
2,000 8-1-72 6
2,000 8-1-73 6 %
5,000 8-1-74 6 %
5, 000 8-1-75 6.10%
5, 000 8-1-76 6. 20%
5, 000 8-1-77 . 6. 30%
5, 000 .8-1-78 6.40%
10, 000 8-1-79 6. 50%
10, 000 8-1-80 6. 60%
10, 000 8-1-81 6. 80%
10,000 8-1-82 7 %
10, 000 8-1-83 7 %
•
We attach hereto a certified check payable to the Treasurer, Estes Park General Improve-
ment Sewer District No. 1 in the amount of $2, 000. 00 as evidence of our
good faith; and if we are the successful purchasers of these bonds, said check is to be
retained by you and held uncashed and is to apply on the purchase price of said bonds at
the time of delivery. Said check represents full liquidated damages in the event we should
fail or neglect to take up and pay for said bonds in accordance with the terms of this proposal.
If we are not the successful purchasers, our check is to be returned to us immediately.
It is understood and agreed that you will furnish the fully printed bonds, a certified
transcript of proceedings authorizing said bonds and the approving legal opinion of Messrs.
Willson and Lamm, Attorneys at Law, Denver, Colorado, free of expense. In accordance
with the Notice of Sale and/or customary practice for the delivery of bonds, these bonds
will be available for delivery within 45 days or thereafter at our option.
For your information, the interest
cost on this proposal is as follows:
Gross Interest Cost
Discount
Net Interest Cost
Effective Rate
$ 47,400. 00
$ 1,511.20
$ 48, 951. 20
6. 884838%
Respectfully submitted,
KIRCHNER, MOORE AND COMPANY
BY G).CIL-t.,
The above proposal is hereby accepted for and on behalf of The Estes Park General Improve-
ment Sewer District No. 1 this 13th day of July ,70
and receipt of a check in the amount of $ 2, 000. 00 is hereby acknowledged,
ATT
Chairman
Secretary
W. E. HUTTON & CO.
ESTABLISHED 1886
July 13, 1970
Board of Trustees
Estes Park, Colorado
Gentlemen:
SUITE 520
DENVER CLUB BUILDING
DENVER, COLORADO 80202
In full accordance with your Notice of Sale, which by reference is made
a part hereof, for $80,000 legally issued General Obligation Sewer Bonds
of your Town, dated August 1, 1970, we will pay you *a 1 --h
pry $ -7qd 404 for bonds in the denomination of $1,000, bearing
interest payable February 1, 1971, and semiannually thereafter (February 1
and August 1) and maturing August 1 in each of the years as follows:
Amount Maturity Coupon
$1,000 1971 (,'/ %
2,000 1972 (oV4 %
2,000 1973 0 //4 %
5,000 1974 /pi& %
5,000 1975 (D1(2%
5,000 1976 • V(Z%
5,000 1977 • 6 g-z%
5,000 1978 Co 3/y%
10,000 1979 f0-3/4%
10,000 1980 (FAO%
10,000 1981 7.00%
10,000 1982 -7. tO%
10,000 1983 7 20%
It is understood and agreed that this bid is subject to our being furnished
at the time of delivery of the bonds the final, unqualified, approving legal
opinion of Messrs. Willson and Lamm, Attorneys At Law, Denver, Colorado,
without cost to us.
It is also understood and agreed that the fully executed bonds will be
furnished us within forty-five days of this contract without cost to us.
Enclosed is a Cashier's Check in the amount of $2, 000 as evidence of our
good faith. This check is to be held by you and is to apply to the purchase
price of said bonds at the time of delivery. If we fail or neglect to take up
and pay for said bonds in accordance with the terms of this bid, said check
will represent full liquidated damages to you. If this bid is not accepted
.^ K
W. TTON & CO.
Estes Park, Colorado
Board of Trustees Page Two
July 13, 1970
or if said attorneys decline to approve the legality of this bond issue, this
check is to be returned to us.
This bid is for immediate acceptance.
Respectfully submitted,
W. E. HUTTON (Sc CO.
os s Interest $ 41, 0 ,6O
o&: OO" 15G(o 00
Net Interest $ 50 SO By
Net Effective Rate 7. I ?9
Authoriz Representative
The above bid is hereby accepted this day of
1970; and receipt of the within -mentioned good faith check is hereby
acknowledged.
ATTEST:
(S E A L)
Title
Authorized Representative
Title
Authorized Representative
July 13, 1970
Board of Trustees
Town of Estes Park
Estes Park, Colorado 80517
Gentlemen:
We are pleased to submit the following bid on the general obligation
Sewer Bonds. We will pay you full par value for the bonds and our
bid is as follows:
Amount Maturity Bid
$ 1,000.00 1971 7.5%
2,000.00 1972 and 1973 7.5%
5,000.00 1974 to 1978, incl. 7.5%
10,000.00 1979 to 1983, incl. 7.5%
$80,000.00
The total net interest cost to the district would be $53,325.00. vi
Net effective interest rate would be 7.5%. �t�,�
As directed our cashier's check for $2,000.00 is enclosed. V 11
y"l
Brown
President
Date
Above proposal is hereby accepted.
Board of Trustees
by
DENVER
ASPEN
BOULDER
THE BROADMOOR
CHERRY CREEK
COLORADO SPRINGS
ENGLEWOOD
FORT COLLINS
GRAND JUNCTION
GREELEY
PUEBLO
VILLA ITALIA
NEW YORK
CHICAGO
c� ENT MEMBERS
•K p � qti NEW YORK STOCK EXCHANGE
S l(' !J' AMERICAN STOCK EXCHANGE
MIDWEST STOCK EXCHANGE
? 0
Boettcher and Company
820 SEVENTEENTH STREET • DENVER, COLORADO 00202
(303) 292-1010 TELETYPE 3031292-1768
..Boax�i.. af..D ixectors
..Es.te.s..Park._General...Improvement__Sewex..D,i.s.tri.ct-Slo . 1
-.Eates _Eark.,...C.o1nratio
For $ 80.,00.Q...QO legally issued. ..Sstics...R.a 'k General Improvement Sewer District No. 1
General...Obliga.tian..S.awer...(Estes_-.Paxk,.-.Oolgx)._.Bonds of Estes Park General Improvement Sewer
NStr ctto No, 1,
eltvere�d us to Denver.,._.Cpipxadq , dated August 1,
19..7.0. ;and to mature and bear interest as follows:
$3.0,0.00...maturing..i,n.years 1971 thru 1978 @ 7.25%
$30,0.00. maturing ...in..gears.19.7-a thru.1981._@.._7...50%
$20.,000...maturing.in..years 1982. thru 1983 @ 7:70%
said bonds to be in the denomination of $ 1,000 , bearing interest as shown above , payable
semi-annually, both principal and interest payable at.-_off.ice_..af..Tawn_.Treasurer...in.. stes._Eark, Colorado.
WE WILL PAY $ ]8,42IIOII and accrued interest from the date of the bonds to the date of delivery
to us. Thies..b.id...is ...made .i.n accordance with your Notice of Sale which by reference is made
a._p.ar.t..hereof .
Prior to our accepting delivery of said Securities, you agree to furnish a certified transcript of all legal proceedings requi-
site to their issuance and delivery, including a signature and non -litigation certificate in the customary form, evidencing the
legality of said Securities and the security provisions relating thereto to the satisfaction of...Messrs_..Willson..and
.laram,...Attorney-s..at-.Law,...Danver.,...0 o lorada
whose unqualified approving legal opinion in the customary form shall accompany said Securities at delivery.
These bonds are to be delivered to us on or before .Asagsast...1.,...1970 , or thereafter at our option.
The cost of the printing of these bonds will be paid by you and the fees of approving attorneys
will be paid by you.
We herewith hand you certified check for $.-...2.,_00.Q..0.0 as evidence of our good faith in
complying with the terms and conditions of this proposal which is to apply as part payment for said bonds when the legality
of same has been approved by our attorneys, and to be forfeited as fully liquidated damages should we fail or refuse to take
up said bonds as above provided. Said check is to be returned to us if this proposal is not accepted, or if the above attorneys
should decline to approve the legality of the issue. This offer is for immediate acceptance unless otherwise specified above.
FOR INFORMATION ONLY:
Gross Interest Cost
Plus Discount
Net Interest Cost
Average Effective Rate
ACCEPTED for and on behalf of
$53,422.50
1,580.00
$55,002.50
7.735%
Respectfully submitted,
Boettcher and Company
James F. Kosmiski
....,.../
ursuant to authorization by its governing
body, and receipt of the above mentioned check acknowledged, on this date._. , 19
Attest:
Signature
Official Title
(SEAL)
ficial Title
GEORGE J. HIX,v PNCSIDENT
J J 1
STATE BANK 37. INCORPORATED FEB 20, 1908
to JC,Infli1.6ra't o
80517
July 13, 1970
Trea surer
Estes Park General Improvement
Sewer District No. 1
Town Hall
Estes Park, Colorado 80517
TELEPHONE (303) 586-4413
We will pay a net effective interest rate of 8.00% for
your $80,000 legally issued General Obligation Sewer Bonds
dated August 1, 1970, in the denomination of $1,000 each,
maturing in the years 1971 through 1983. This will result in
a total net interest cost in dollars of $56,880.00 to the District.
In the event that our bid is successful, please deliver the
bonds to The First National Bank of Denver, Denver, Colorado,
for the account of The Estes Park Bank.
TheeEstes Park Bank '
President