HomeMy WebLinkAboutMINUTES-03/11/1965-Regular1.44
MINUTES OF A REGULAR MEETING OF THE COUNCIL OF THE CITY OF FORT COLLINS,
Thursday, March 11, 1965, at 1:30 o'clock P.M.
Present: Councilmen Johnson, Colwell, McMillan, Guyer and Councilwoman Quinn.
City Manager Boos, City Attorney March and City Engineer Fischer.
Motion was made by Councilwoman Quinn, seconded by Councilman Guyer, that the
reading of the minutes of the last regular meeting held March 4, 1965, be dispensed with.
Roll was called resulting as follows: Ayes: Councilmen Johnson, Colwell, McMillan, Guys
and Councilwoman Quinn. Nayes: None. The President declared the motion adopted.
The Rpplication of Morris G. Magie dba Town Pump, 124 North College, to the
State of Colorado, for renewal of 3.2% beer license, was presented. Motion was made by
Councilwoman Quinn, seconded by Councilman Guyer, that the Mayor and City Clerk be author
ed to execute the approval of the licensing authority. Roll was called resulting as fol-
lows: Ayes: Councilmen Johnson, Solwell, McMillan, Guyer and Councilwoman Quinn. Nayes
None. The President ddclared the motion adopted.
The application of Morris G. Magie dba Town Pump, 124 North College, to the
for a renewal of non -intoxicating malt liquor license, accompanied by the required licens
fee, was presented. Motion was made by Councilwoman Quinn, seconded by Councilman Guyer,
that the license be granted subject to the issuance of the State license. Roll was calls
resulting as follows: Ayes: Councilmen Johnson, Colwell, McMillan, Guyer and Councilwom
Quinn. Nayes: None. The President declared the motion adopted.
The following resolution was presented and read at length:
RESOLUTION
OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING A PETITION FOR THE ANNEXATION OF
LAYLAND SECOND ANNEXATION TO THE CITY OF FORT COLLINS; SETTING THE DATE FOR HEARING ON
ORDINANCE APPROVING THE ANNEXATION THEREOF; AND GIVING NOTICE THEREOF
WHEREAS, heretofore on the l}th day of March, A. D. 1965, a written
presented to the Council of the City of Fort Collins in substantial compliance
with t petition was
provisions of Colorado Revised Statutes, 1953, 139-11-3, by the owners of hem°re than fifty P
ofrthenfollowingfthe area and described landt,hsituuatteise the in the Countytof°Lorimer,ners Stateesiding in the aresE
°f Colorado, t0"wiq:
ct of
and locaed
Westaof thel6th P.m.,in1they the
Count °ofSection
Lorimar16StateTownship
°rth, Range 69
rad°,
within the boundaries as shown and considering* the East line of contained said NE4 to bear South 00°32100" East and with all bearings contained herein re la's thereto:
the East Commencingine ofat esaid NE cSection orner fl6aid6l{Oc00 feetion t Thence North BQ)a00032'O°" East along
00 feet; Thence North 00032"00" East 660.00 feet to the True Poih3`30'" West 1320''
Thence North 89043'30" West 330.00 feet; Thence North 00°32'00" t of6Beg00nin9'
feet; Thence South 89°43'30" East 330.00 feet; Thence South 00a32e00'" ddO.
feet to the true point of beginning; East 66
and
WHEREAS, said owners have requested that the above described to the City of Fort Collins and be included within the limits and lands be admitted
jurisdiction thereof as
an "A" Residential District, and
WHEREAS, the Council of the City of Fort Collins has found
the petition an
the documents thereto attached meet the requirements of that 1
Statutes, 1953.
. Colorado Revise
the NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS thad
the sameeisiherebytdesignated as t hemdato fore is etheby ahearing onccepted danhordat inan� 22, 1965, be an
annexation of the above described territory and including the same within thPrlimitsthe
jurisdiction Of the City of Fort Collins, and to be included as a part of "he limits District;
BE IT FURTHER RESOLVED that the City Clerk be and he is herebyation in the Fort Collins ap ordered to publi
notice of said petition and the date set for hearing on the ordinance
such
the
wordsnandpfigureser basshed followschr16'a23 and 30,landlAprilp6t,er of1965,tae Ctha rov
inithethe
ann6issues u
such notice be
"NOTICE OF PUBLIC HEARING
TO WHOM IT MAY CONCERN:
Notice is herewith given that a petition was presented on March
!I-, 1965, to
145�
March 11, 1
Council of the City of Fort Collins requesting that the following described land, situate
in the County of Larimer, State of Colorado, to=wit:
A tract of land located in the NF4 of Section 16, Township 7 North, Range 69
West of the 6th P.M., in the County of Larimer, State of Colorado,- contained
within the boundaries as shown and considering the East line of said NE4 to bear'
South 00032T00" East and with all bearings contained herein relative thereto:
Commencing at the NE corner of said Section 16; Thence South 00032100" East along
the East line of said Section 16 2640.00 feet; Thence North 89°43130" West 1320.
00 feet; thence North 00032,00" East 660.00 feet to the True Point of Beginning;
Thence North 89°43'3O" West 330.00 feet; Thence North 00032100" West 660.00 feet;
Thence South 89043'3O" East 330.00 feet; Thence South 00°32100" East 660.00 feet
to the true point of beginning;
be annexed and made a part of the City of Fort Collins a nd be included within the limits
and jurisdiction thereof as an "A" Residential District. That said petition was signed by
the owners of more than fifty per cent (50%) if the area and who comprise the majority
of laubwners residing in the area of said land. That said petition was accepted by the
Council of the City of Fort Collins on March 11, 1965, and that hearing on an ordinance
approving said annexation will be held in the Council Chambers in the City Hall in the City
of Fort Collins, Colorado, at the hour of 1:30 o'clock P.M. at a regular meeting of the
Council to be held the 22nd day of April, A. D. 1965.
That the landowners of the area proposed to be annexed may express their opposi-
tion to the annexation and secure an election by complying with the provisions of Colorado
Revised Statutes, 1953, 139-11-4.
Dated at 1"ort Collins, Colorado, this llth day of March, A. D. 1965.
/a/ Miles F. House
City Clerk"
Passed and adopted at's regular meeting of the Council held this llth day of
March, A. D. 1965.
1sl Harvey G. Johnson
Mayor
IATTEST:
s/ Miles F. House
ity Clerk
Motion was made by Councilman Guyer, seconded by Councilwoman Quinn, that this
resolution be adopted. Roll was called resulting as follows: Ayes: Councilmen Johnson,
Colwell, McMillan, Guyer and Councilwoman Quinn. Nayes: None. The President declared the
emotion adopted.
The following resolution was presented and read at length:
RESOLUTION
OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING A PETITION FOR THE ANNEXATION OF
THUNDERBIRD ESTATES NINTH ANNEXATION TO THE CITY OF FORT COLLINS; SETTING THE DATE FOR
HEARING ON AN ORDINANCE APPROVING THE ANNEXATION THEREOF; AND GIVING NOTICE THEREOF
WHEREAS, heretofore on the 4t1a day of March, A. D. 1965, a written petition was
presented to the Council of the City of Fort Collins in substantial compliance with the pro
visions of Colorado Revised Statutes, 1953, 139-11-3, by the owners of more than fifty per-
cent (50%) of the area and who comprise the majority of landowners residing in the area of
the following described land, situate in the County of Larimer, State of Colorado, to -wit:
A part of the NW4 of Section 25, Township 7 North, Range 69 West of the 6th Prin-
cipal Meridian in the County of Larimer, State of Colorado containing within the
boundary lines as shown, and considering the North line of said NW!, to bear North
89045100" East and with all bearings contained herein relative thereto: Commencin
at the Northwest corner of said Section 25; Thence North 89°45100" East 1,320.10
feet to the Northeast corner of the NW4 of the NW4 of said Section 25; Thence Sout
99o08125" East 1,318.39 feet to the Southeast corner of Thunderbird Estates
Third Annexation, which point is also the Northeast corner of Thunderbird Estates
Eighth Annexation and the True Point of Beginning; Thence South 09°40130" East
509.89 feet to the most easterly point on the outer boundary of said Thunderbird
Estates Eighth Annexation; Thence along the easterly boundary of said Thunderbird
Estates Eighth Annexation by the followdng courses: North 24047110" West 131.50
feet; North 13055750" West 126.98 feet; North 00000190" East 260.00 feot to the
True Point of Beginning; containing 0.292 acres, more or less;
and
WHEREAS, said owners have requested that the above described lands be admitted to
the City of Fort Collins and be included within the limits and jurisdiction thereof as an
"A" Residential District, and
WHEREAS, the Council of the City of Fort Collins has found that the petition and
the documents thereto attached meet the requirements of Section 139-11-3, Colorado Revised
Statutes, 1953.
NOW, THEREFORE, BE IT RESOLVED BY -THE COUNCIL OF THE CITY OF FORT COLLiNS, that
the aforesaid petition be and the same is hereby accepted and that April 22, 1965, be and
146
- Marsh il, 1965
T
same is hereby designated as the date for the hearing on an ordinance approving the ann-
ionof the above described territory and including the same within the limits and juris-ion of the City of Flirt Collins, and to be included as a part of "A" Residential Dis-
t;
BE IT FURTHER RESOLVED that the City Clerk be and he is hereby ordered to publish
notice of said petition and the date set for hearing on the ordinance approving the annexa-
tion in the Fort Collins Coloradoan, the official newspaper of the City, in the issues of
such newspaper published March 16, 23 and 30, and April 6, 1965, and that such notice be in;.
w6rds and figures as follows:
"NOTICE OF'PUBLIC HEARING
TO WHOM IT MAY CONCERN:
Notice is herewith given that a petition was presented on March 4, 1965, to the
Council of the City of Fort Collins"requesting that the following described land, situate
in the County of Larimer, State of Colorado,. to -wit:
A part of the NWZ of Section 25, Township 7 North, Range 69 West of the 6th
Principal Meridian in the County of Larimer, State of Colorado, contained within
the boundary lines as shown, and considering the North line of said NW4 to bear
North 89045100" East and with all bearings contained herein relative thereto:
Commencing at the Northwest corner of said Section 25; Thence North 89045,00"
East 1,320.10 feet to the Northeast corner of the NW2 of the NWT of said Section
25; Thence South 00008,25" East 1,318.39 feet to the Southeast corner of Thunder-
bird Estates Third Annexation, which point os also the Norhteast corner of Thun-
derbird Estates Eighth Annexation and t he True Point of Beginning; Thence South
09°40'30"'Ea6t 509.89 feet to the most easterly point on the outer boundary of
said Thunderbird Estates Eighth Annexation; Thence along the easterly boundary of
said Thunderbird Estates Eighth Annexation by the following courses;: North 24047110"
West 131.50 feet; North 13055'5D" West 126.98 feet; North 00009100" East 260.00
feet to the True Point of Beginning; containing 0.292 acres, more or less;
be, annexed and made a part of the Oity of Fort Collins and be included within the limits !
and jurisdiction thereof as an A Residential istrict. That said petition was signed
by the owners of more than fifty per cent (50%) of the area and who comprise the majority
of landowners residing in the area of said land. That said petition was accepted by the
Council of the City of Fort Collins on March 11, 1965, and that hearing on an ordinance
approving said annexation will be held in the Council Chambers in the City Hall in the City
of Fort Collins, Colorado, at the hour of 1:30 ovelock P.M. at a regular meeting of the
Council to be held the 22nd day of April, A. D. 1965.
That the landowners of the area proposed to be annexed may express their opposi-
tion to the annexation and secure an election b y complying with the provisions of Colorado
Revised Statutes, 1953, 139-11-4.
Dated at Fort Collins, Colorado, this llth day of March, A. D. 1965.
/s/ Miles F. House
City Clerk"
Passed and adopted at a regular meeting of the Council held this llth day of
March, A. D. 1965.
Harvey G. Johnson
Mavor
ATTEST:
Miles F. House
City k
Cler
Motion was made by Councilwoman Quinn, seconded by Councilman Guyer, that this
resolution be adopted. Roll was called resulting as follows: Ayes: Councilmen Johnson,
Colwell, McMillan, Guyer and Councilwoman Quinn. Nayes: None. The President declared the
motion adopted.
The following communication was presented and read at length:
CITY OF FORT COLLINS WATER BOARD
March 8, 1965
The Honorable, The Mayor and Council
Members of the City of Fort Collins, Colorado
Dear Messrs, and Madam:
For the last several weeks the Water Board has met with representatives of the
Fort Collins -Loveland Water District in an attempt to arrive at some feasible solution to
the problems which inevitably arise when two organizations exist, in part, to serve water
to the same area.
We have appreciated the obvious good faith of the Districtis representatives in
seeking these solutions, and we have attel# ed to fully reciprocate t heir attitude.
A number ap ways to reconcile the aims and purposes of the City and the District,
have been explored, and some of them have merit. The representatives of the District,
however, have concluded that, insofar as t he District is concerned, only one alternative
to the should lninis oybof� Their
easetheentirewatersystem proposal is, in substance, that t he Oity
3 the District, be entitled to all its revenues, and,
conversely, be responsible for its operation and maintenance, and assume the obligation of
Its outstanding bond issue (now totaling, with principal and interest, about 1.8 million
dollars).
Your Water Board has carefully considered t he advantages and disadvantages of th
proposal to the City and to the community as a whole.
With a realization that the District system is primaray a system designed for rura
consumption, that the purposes of the system are entirely different from the purposes and
functions of the Ci.ty's system, and that the District encompasses a huge area reaching near-
ly to Loveland, the Water Board cannot at this time recommend the acceptance of the Dis-
trict's proposal. We have previously indicared that in proper circumstances the City
should not hesitate to serve water for use outside of the City, but this concept presumes
that the area so served will ordinarily de#elop as part of the City itself within a reasonabl
time. While it would be impossible to say that the City would never grow to encompass the
entire District, yet the criteria of "within a reasonable time" is here lacking. In short,
we do not believe that it is the legitimate function of a City to obligate its citizen tax-
payers to assume the dual obligations of the furnishing of water for purely rural purposes
and the assumption of a rather heavy indebtedness, the benefitsof which are felt only
indirectly and remotely by such citizens.
The District and the Water Board have agreed to a moratorium as to new commit-
ments for the furnishing of water within this area by either. This moratorium was proposed
by the District as a good faith indication of its desire to work toward•a solution. Assum-
ing the acceptance of this report by the Council, the moratorium should, in fairness to
the District, be considered as lifted in order to allow t he District to complete plans
which have been therewith curtailed.
The Water Board regretsthat it has found no solution to this problem acceptable
to the District. We wish again to commend the District for its earnest attempts -at nego-
tiation; and we hope that further thought on both sides may yet resolve the matter. We
stand ready to meet with representatives of this or any other district to explore common
problems.
For the Water Board:
IsI. Ward H. Fischer, President
During the discussion, the Council members requested an explanation,of what the
moratorium, mentioned in the report, meant and Mayor Johnson explained this for the benefit
of the Council. Motion was made by Councilman Johnson, seconded by Councilwoman Quinn,
to accept the report of the Water Board and approve the action of said Board. Roll was
called resulting as follows: Ayes: Councilmen Johnson, Colwell, McMillan, Guyer and
Councilwoman Quinn. Nayes: None. The President declared the motion adopted.
The following resolution was presented and read at length:
RESOLUTION
OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING THE TERMS OF AN AGREEMENT TO BE ENTER-
ED INTO WITH WILLIAM B. ROBB
WHEREAS, it is necessary that the City of Fort Collins erect a new fire station
to more fully serve the citizens of the City of Fort Collins, and
WHEREAS, it is necessary to employ an architect in connection with such undertakir
and
WHEREAS, an agreement has been negotiated with the said William B. Robb for his
services as architect in connection therewith, which said agreement has .been approved by
the City Manager and the City Attorney.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT COLLINS
that the terms of said agreement be and the same are hereby approved; and
BE IT FURTHER RESOLVED that the Mayor and City Clerk be and they are hereby auth-
orized to execute said agreement for an d on behalf of the City of Fort Collins.
Passed and adopted at a regular meeting of the City Council held this llth day
of March, A. D. 1965.
Harvey G. Johnson
Mayor .
ATTEST:
Is/ Miles F. House
Motion was made by Councilman Guyer, seconded by Councilwoman Quinn, that this
resolution be adopted. Roll was called resulting as follows: Ayes: Councilmen Johnson,
lwell, McMillan, Guyer and Councilwoman Quinn. Nayes: None. The President declared the
tion adopted.
The following resolution was presented and read at length:
F�148
March 11,_1%5
RESOLUTION
F THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING THE APPLICATION BY THE CITY OF FORT
OLLINS FOR THE TEMPORARY USE OF 75 ACRE FEET OF WATER OF THE NORTHERN COLORADO WATER CON-
ERVANCY DISTRICT.
4
WHEREAS, the City of Fort Collins has acquired 76-acre foot units of water of they
orthern Colorado Water Conservancy District, and
WHEREAS, the Board of Directors of the Northern Colorado ''later Conservancy Dis-
riot require that the City of Fort Collins enter into a temporary use permit agreement with,
aid District for the transfer of said water, and
WHEREAS, the Northern Colorado Water Conservancy District has submitted approp- `
iate forms of temporary use permit agreements to be entered into by the City of Fort Oollins
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that
he Mayor and City Clerk be and they hereby are authorized and directed to apply for the
emporary us: of said 75 acrd fee t of water by entering into the temporary use permit agree
ents with the Northern Colorado Water Conservancy Dist3•alct. )
t
Passed and adopted at a regular meeting of the CityJ Council held this llth da C
f March, -A. D. 1965. Y
v
v
/s/ Harvey G. Johnson
TTEST: Mayor
sl Miles F. House
Motion was made by Councilman Colwell, seconded by Councilman McMillan, that this
solution be adopted. Roll was called resulting as follows: Ayes: Councilmen Johnson,
lwell, McMillan, Guyer and Councilwoman Quinn.
Wes: None. The President declared the
tion adopted.
The following communication was presented and read at length:
TTY COUNCIL, CITY OF FORT COLLINS
unicipal Building
ort Collins, Colorado
ntlemen:
March 11,,1965
The
;he capitol stock dofsthe
North ePoudreby eIrrigation rs for sale to
the City of Fort Collins, 48 shares of
'ayment to be made in cash upon transfer of the certOluificate at a price of $500.00 per share.
;he event this offer is accepted, the undersi icate representing such shares. In
Lease back said water right on a year to gbasishall have the right, at his option, to
and in the event the undersigned exercisesear a period but to exceed two (2) Y
said for errs,
'ore, shall be the assessments for that year on saidon for any one year, the rental, there'
sxeucises this option for any one year, he shall stock. In the event the undersigned
;he City Clerk, City of Fort Collins, advisi declare such election by notice given to
:oming year, and this hot ice shall be delivered
that intends le aster is to be used. It is understood thatt on or before to use said water for the
-or t he year 1965, Is undersi March 1 of the year in which the
fined will lease back the water rights
This offer will remain opera for anPeriod of one week from this date, and acceptance -his offer may be made by notifying the as
and Payton, Colorado. In the event this o gned t he °`
and payment made, therefore within six (6)fweeis so at ttie follow;
llowhe haresddress stiall beBox36,errea
£rOm date of acceptance.
Sincerely yours,
Motion was made by Councilman C Edens
Colwell
/s/ A. A.
, seconded by Councilman McMillan, to accent
the offer of1+8 shares of North Poudre Irrigation Company stock and refer the matter tD the
ity Attorneyto notify Mr. Edden of the a
dre°f• Roll was called resulting as
ollows: Ayes: Councilmen Johnson, Colwell, McMillan, Guyer and Councilwoman Quinn, Vayes'!
one. The President declared the motion adopted.
The following communication was
Presented and read at length:
embers of The City Council
unicipal Building
ort Collins, Colorado
ntlemen:
March 11, 1965
I am the owner of 19 acre-feet units of the Northern Colorado Water Conservancy
strict which are attached to property that I own at 2620 West Elizabeth Street. I wish
149
**i.,*
See Page 16?
Petition
to offer them for sale to the City of Fort Collins at a price of $100.00 per unit, or a
total of $1,900.00, payable when the transaction has been approved by the Northern Colorado
Water Conservancy District. I will pay the $15.00 transfer fee required by the District,
and will furnish an Abstract for the purpose of the City's attorney opinion to the District,
I will execute the necessary application for transfer to the District and will secure he
Mortgage holder's signature.
It is my understanding that a new water main is being installed near my property
to which I could connect. I would accordingly, make my offer conditioned upon approval of
my request for the furnishing by the City of domestic water service for my property upon
receiving 1 — 5/8 inch water tap for which I will pay all the charges payable, being con-
sumer for outside the City limits.
I also plan at some future date to request annexation to the City of Fort Collins;
and if the City accepts my offer to sell, I would want the sale of the above water to be
considered as a partial fulfilment of any obligation I may have to sell water to the City
at the time of such annexation.
I also have with the property, 29/30 ths. of 1 share of the Pleasant Valley and
Lake Canal Ditch capital stock which I will retain for my farming purposes.
If the City accepts the offer within the next 10 days, it will be considered a
binding obligation on both parties.
Yours very truly,
/s/ Margaret Baer
Motion was made by Councilman Johnson, seconded by Councilman Guyer, to accept
the offer and refer same to the City Attorney to prepare the necessary agreement. Roll was
called resulting as follows: Ayes: Councilmen Johnson, Colwell, McMillan, Guyer and
Councilwoman Quinn. Nayes: None. The President declared the motion adopted.
A quit claim deed from the Board of County Commissioners for a portion of land
which is part of Lemay Avenue was presented. Motion was made by Councilwoman Quinn, second
ed by Councilman McMillan, that this quit claim deed be accepted and the City Clerk ordered
to record same. Roll was called resulting as follows: Ayes: Councilmen Johnson, Colwell,
McMillan, Guyer and Council woman Quinn. Nayes: None. The President declared the motion
adopted.
The following communication was presented and read at length:
WEST FORT COLLINS WATER DISTRICT
City of Ft. Collins
City Council
PO Box 580
Fort Collins, Colorado
Gentlemen:
March 9, 1965
West Fort Collins Water District requests permission to serve Jack Quick with a water tap
on highway 14 and 287 North West of Ft. Collins approximately 400 feet south of Davis
Skelgas.
Your immediate attention on this matter will be greatly appreciated and .should there be any
questions, please don't hesitate to call an us. Thank you, we remain:
Yours very truly,
West Ft. Collins Water District
/s/ Al Treiber
During the discussion the Mayor explained that there was a more or less verbal
agreement of reciprocity between the City and the West Fort Collins District to serve rural
water consumers not in the district by the City or the district, which ever would be the
most economical for the water users. Motion was made by Councilman Johnson, seconded by
Councilman Guyer, that the request be approved and the matter be referred to the Water
Board for notification thereof. Roll was called resulting as follows: Ayes: Councilmen
hnson, Colwell, McMillan, Guyer and Councilworra n Quinn. Nayes: None. The President
eclared the motion adopted.
Councilman R. L. Colwell introduced the following ordinance: Motion was made by
ouncilman Johnson, seconded by Councilwoman Quinn, that the following ordinance entitled:
ORDINANCE .NO. 15a 5
150
March 11, 1965__,__
"AN ORDINANCE AUTHORIZING THE ISSUANCE BY THE CITY OF FORT COLLINS, COLORADO, OF THE CITY'S-
NEGOTIABLE, COUPON "CITY OF FORT COLLINS, COLORADO, SEWER REFUNDING AND IMPROVEMENT REVENUE`
BONDS, SERIES JUNE 1, 1965" IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,492,OOO.00; PROVIDING
FOR THE REFUNDING, PAYMENT AND DISCHARGE AT THEIR RESPECTIFE MATURITIES OF THE CITY'S OUT-
STANDING REVENUE BONDS PAYABLE OUT OF AND SECURED BY A PLEDGE OF REVENUES TO BE DERIVED 3
FROM THE OPERATION OF THE CITY'S MUNICIPALLY OWNED AND OPERATED SEWER SYSTEM; AUTHORIZING 0
THE DEPOSIT OF FUNDS SO TO REDEEM SUCH OUTSTANDING BONDS; SUTHORIZING THE IMPROVEMENT AND
EXTENSION OF SAID SEWER SYSTEM BY THE CONSTRUCTION AND OTHER ACQUISITION OF ADDITIONAL
SEWAGE COLLECTION AND TREATMENT FACILITIES AND EVERYTHING NECESSARY OR INCIDENTAL THERETO;¢
AUTHORIZING THE ISSUANCE OF SUCH BONDS IN ANTICIPATION OF THE COLLECTION OF REVENUES OF
SUCH SYSTEM FOR SUCH IMPROVEMENTS AND EXTENSIONS; PROVIDING THE FORM; TERMS AND CONDITIONS`.
OF THE SEWER REFUNDING AND IMPROVEMENT BONDS, THE MANNER OF THEIR EXECUTION, THE METHOD OF
PAYING THEM, AND THE SECURITY THEREFOR; PROVIDING FOR THE COLLECTION AND DISPOSITION OF
REVENUES DERIVED AND TO BE DERIVED FROM SAID SEWER SYSTEM; PROVIDING OTHER DETAILS CONCERN-h
ING THE REFUNDING AND IMPROVEMENT BONDS, SAID SEWER SYSTEM, THE BONDS TO BE REFUNDED, AND h
FUNDS APPERTAINING THERETO, INCLUDING BUT NOT LIMITED TO COVENANTS AND AGREEMENTS IN CON- °
NECTION THEREWITH; RATIFYING ACTION PREVIOUSLY TAKEN AND PROVIDING THE EFFECTIVE DATE HERE-
OF. "
and read in full•at this meeting, as aforesaid, be passed on first reading and published in
full in the Fort Collins Coloradoan, a newspaper of general circulation published in the
City of Fort Collins, in its issue of March 16, 1965, and that said ordinance, at least ten,
days after it is published as aforesaid and after a public hearing is held thereon at the
meeting hereinafter designated, be considered for final passage at a r egular meeting of the,
City Council to be held at the Council Chambers in the City Hall, in Fort Collins, Colorado'
on Thursday, the lst day of April, 1965, at the hour of 1:30 o'clock P.M.
The question being upon the adoption of said motion, the roll
yera asCcalledncil'pith the
following result: Ayes: Councilmen Johnson, Colwell,
Quinn. Nayes: None. The President declared the motion adopted.
Councilman McMillan introduced the following resolution which was read in full:
RESOLUTION
A RESOLUTION PROVIDING FOR THE PUBLIC SALE OF THE NE 1,TY OFORT COLLINS, COLORADO, SEWER
1965
REFUNDING AND IMPROVEMENT REVENUE BONDS, SERIES
WHEREAS, the City of Fort Collins (herein sometimes designated asythe "City"),
the Connty of "arimer and State of Colorado, has determined, Improvement hereby deeemine,
that the City of Fort Collins, Colorado Sewer Refunding
Series June 1, 1965 (herein sometimes designated as the "Bonds)), as authorized by an ordl
nance entitled: City of Fort Collins, Colorado, of the
CAity�sdinance negotiableh6coupoh °Cityissuance
FortbCollinshe , Colorado, Sewer Refunding and Impcipal amount of VZvei
ment Revenue Bonds, Series June 1, 1965" in tandadischargeregate patntheir respective matuvi-C'
000.00; providing for the refunding, payment
ties of the City's outstanding revenue bonds payable out of and secured by a pledgeof
etof
revenues to be derived from the m eration of the City's municipally owned and open �
sewer system; authorizing the deposit of funds so to redeem such outstanding bonds,'dp
authorizing the improvement and extension said sewer system by the construction an N
other acquisition of additional e collection and treatment facilities and every
thing necessary or incidental thereto; authorizing the issuance of such bonds it,anti
cipation of the collection of revenues Of such system for such improvements and exten'I
sions; providing the form, terms and conditions of the sewer refunding and improve'
meet bonds, the manner of their execution, the method of paying them, and the secuT'
therefor; providing for the collection and disposition of revenues derived and to he
derived from said sewer system. providing other details concerning the refunding ann,
improvement bonds, said sewer system, the bonds to be refunded, and funds appertainit8:
thereto, including but not limited to covenants and agreements in connection ther6wl
ratifying action previously taken and providing the effective date hereof."
introduced and passed on first reading on the llth day of March, 1965, should be publicly
sold after he final adoptibon of said ordinance.
Now, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS:,
Section 1. That Subseries I and Subseries R of the City of Fort Collins, Colo"
rado, Sewer Refunding and Improvement Revenue Bonds, Series June 1, 1965, ih the princiPoI
amount of 2,492,OOO.00 be, and the same hereby are ordered to be, publicly advertisedf•
sale; and that the City Council, on Thursday, the 6th day of May, 1965, at the hour of 1'
31
o'clock P.M. at City Hall Council Chambers in the City, will causesealed bids to be re'
ceived and to be opened publicly fort he purchase of the bonds of each Subseries.
Section 2. That the are, authorized and directed: Mayor and the Director of Finance be, and t he same hereby
A. To have 'published a notice of sale of the bonds at least once at least five
days prior to the sale date in each of the following:
)1) The Fort Collins Coloradoan, a newspaper circulating in the City, and
(h) Daily Journal, a financial newspaper published in Denver, Colorado, (being
Ypublished Denver ork,New York),and Colorado; Sari Francisco, California; Chicago, Illinois; or New
B. To cause copies of such notice, the Official Notice of Bond Sale or sum�st thereof to be published os'
or furnished to such other financial journals and to such et
pective bidders as may be determined by said officers and t he City's Fiscal Agent.
Section 3. That said notice of bond sale to be so published shall be in subatan
tially the following form:
(Form of Notice of Bond Sale for Publication)
NOTICE OF BOND SALE
151
March 11, 1965
CITY OF FORT COLLINS, COLORADO
SEWER REFUNDING AND IMPROVEMENT REVENUE BONDS
SERIES JUNE 1, 1965 - $2,492,000.00
+ NOTICE IS HEREBY GIVEN that the City Council of the City of Fort Collins, Colorad
on Thursday, the 6th day of My, 1965, at the hour of 1:30 o'clock P.M., M.S.T., at 'ity
Hall, City of Fort Collins, Colorado, in Council Chambers, will cause sealed bids to be
received and opened publicl for the purchase of the negotiable, coupon improvement bonds
in the principal amount of 2,200.000.00, designated as Subseries I (herein sometimes
designated as the "improvement bonds") and the negotiable, coupon refundings bonds in the
principal amount of $292,000.00, designated as Subseries R (herein sometimes designated as
the"refunding bonds"), comprising the City of Fort Collins, Colorado, Sewer Refunding and
Improvement Bonds, Series June 1, 1965, in the aggregate principal amount of $2,492,000.00
(herein sometimes designated as t he "1965 revenue bonds"). The 1965 revenue bonds shall
be dated June 1, 1965, and shall be payable to bearer. Both principal and interest of the
1965 revenue bonds shall be payable at t he office of the Director of Finance and ex-officio
City Treasurer, in Fort Collins, Colorado.
The improvement bonds shall consist of 440 bonds in the denomination of $)5,000.00
each, numbered consecutively in regular numerical order from I-1 to I4440, both inclusive,
bearing interest at a rate or rates of not exceeding four and one-half per centum (4-2%) pe:
annum from date until maturity, interest being payable on December 1, 1965, and semiannuall;
thereafter on June 1 and December 1 in each year, and shall mature serially in regular
numerical order on December 1 in each of the designated amounts and years:
Amounts
Maturing
Years
Maturing
Amounts
Maturing
Years
Maturing
%500000.00
1967
$130,000.00
1977
55,000.00
1968
140,000.00
1978
60,000.00
1969
145,000.00
1969
65,000.00
1970
150,000.00
1980
65,000.00
1971
155,000.00
1981
70,000.00
1972
16o,0o0.o0
1982
75,000.00
1973
165,000.00
1983
120,000.00
125,000.00
1974
1975
170,000.00
175 OOO.00
1984
1985
125,000.00
1976
In conformity with the City Charter, improvement bonds maturing on and before
December 1, 1974, shall be subject to prior redemption in regular numerical order on June 1
1967, or on any interest payment date thereafter, for t he principal amount, accrued inter-
est and a premium of five per centum (5%) of principal. The prior redemption option herein -
above provided shall not be exercised for the purpose of refunding the bonds called for
prior redemption without the specific written consent to such call by the holders of those
bonds, except as hereinafter provided. Improvement bonds maturing on and after December 1,
1975, shall be subject to prior redemption for all purposes, in inverse numerical order on
December 1, 1974, or on any interest payment date thereafter, for the principal amount,
accrued interest and a premium of one centum (1%U of principal.
The refunding bonds shall consist of 60 bonds in the denomination of $5,000.00
each, except bonds numbered R-1 and R-2, which shall be in the denomination of $1,000.00
each, numbered consecutively in regular numerical order from R-1 to R-60, both inclusive,
refunding bonds numbered R-1 to R-15, both inclusive, bearing interest at a rate or rates c
not exceeding two and three -fourths per centum (2-3/4%) per annum, refunding bonds numbered
R-16 to R-60, both inclusive, bearing interest at a rate or rates of not exceeding three
and one-fourth per centum (3-44) per annum, interest being payable on December 1, 1965, and
semiannually thereafter on June 1 and December 1 in each year, and shall mature serially in
regular numerical order on June 1 in each of the designated amounts and years:
nts
Years
Maturing
Amounts
Maturing
Years
Maturing
$32,000.00 1966 $35, 000.00 1970
35,000.00 1967 40, 000.00 1971
35,000.00 1968 40, 000.00 1972
35,000.00 1969 40, 000.00 1973
In conformity with the City Charter., refunding bonds maturing on or before June
1, 1973, shall be subject to prior redemptionfbr all purposes on December 1, 1965, or any
interest payment date thereafter, for the principal amount, accrued interest and a premium
of five per centum (5%) of principal.
The= interest on all 1965 revenue bonds shall be evidenced by only one set of
coupons (,supplemental interest coupons, i.e. "$" coupons are not permitted). Not more than
one interest rate shall be stated for the bonds of any maturity of a subseries. The maxi-
mum interest spread permitted for the improvement bonds is 2% per annum. Subject to desig-
nated reservations,t he bonds of each subseries shall be sold to the highest and best bidder
for each subseries.
The 1965 revenue bonds are payable both as to principal and interest solely from,
and their payment is additionally secured by a pledge of t he net revenues derived from the
operation of t he sewer system, pursuant to an ordi=nce known as the 6-1-65 sewer revenue
bond ordinance, introduced on March 11, 1965, reference to which is made for further details
The legality of the 1965 revenue bonds will be approved by Messrs. Dawwon, Nagel,
Sherman & Howard, Attorneys at Law, Denver, Colorado, whose opinion, together with the
printed bonds (including that opinion printed• thereon), and a certified transcript of legal
proceedings, will be furnished to the purchaser of each subseries without charge. The
official Notice of Bond Sale, of which this publication is a condensation, said ordinance,
a prospectus and financial and other information concerning said bonds and the City may be
obtained from its Fiscal Agent, Boettcher and. Company, 828 Seventeenth Street, Denver, Colo-
rado 80202, and from Miles F. House, City Clerk, Fort Collins, Colorado.
1'52
By order of the City Council dated March 11, 1965.
Isl Haruey G. Johnson
Mayor
City of Fort Collins
(SEAL)
ATTEST:
Is/ Miles F. House
City Clerk
(End of Form of Notice for Publication)
Section L}. That the official notice of bond sale shall be in substantially the
following form:
(Form of Official Notice of Bond Sale)
OFFICIAL NOTICE OF BOND SALE
CITY OF FORT COLLINSCOLORADO
SEWER REFUNDING AND IMPROVEMENT REVENUE BONDS
SERIES DONE 1, 1965 - 2,492,000.00
PUBLIC NOTICE IS HEREBY GIVEN that the City Council of the City of Fort Collins
(herein sometimes designated as the City Council and as the City," respectively), in
the County of Larimer and State of Colorado, on Thursday, the 6th day of May, 1965, at the
hour of 1:30 o'clock P.M., Mountain Standard Time, at City Hall Council Chambers, in Fort
Collins, will cause sealed bids to be received and to be opened publicly for the purchase
of two subseries of the negotiable, coupon, sewer refunding and improvement revenue bonds
of the City, particularly described below;
BOND PROVISIONS
SERIES: "City of Fort Collins, Colorado, Sewer Refunding and Improvement Revenue
Bonds, Series June 1, 1965, in the ,aggregate principal amount of 2,492,000,00 (herein some
times designated as the 111965 revenue Bonds") , payable to bearer, and consisting of two
subseries designated as Subseries I and Subseries R, as follows:
A. Subseries I. The bonds comprising Subseries I (herein sometimes designated
each,as t heissmprovementued for Bonds") shall co nsidtsof 440 bonds in the denomination of $5,000.00
purpose principal amount of 2 200 000.00,
numbered consecutively in regular numerical order from I-1 to I_ ,
and being numbered and maturing serially in regular numerical orde9 , both inclusive,
December in each of the designated amounts and years, as follows: on the first day of
Bond
Numbers
Amounts
All Inclusive)
Maturing
Years
Maturing
I - 1
to
I - 10
50,000.00
1 -11'to
I - 21
55,000.00
1967
I -22
to
I - 33
60,000.00
1968
I -34
to
I - 46
65,000.00
1969
1 -47
to
I - 59
65,000.00
1970
1 -60
to
I - 73
70,000.06
1971
I -74
to
I - 88
75,000.00
1972
I -89
to
1 -112
120,000.00
1973
I 113
to
I -137
125,000.00
1974
I 138
to
I -162
125,Qo0.00.
1975
1-163
to
I -188
130,000.00
1976
I-189
to
I -216
140,000.00
1977
1-217
to
1 -245
145;000.00
1978
I-246
to
1 -275
150,000.00
1979
I-276
to
I -306
155,000,00
1980
1-307
to
I -338
160,000.00
1981
1-339
to
1-371
165.000.00
1982
I-3 2
to
1-405
170,000.00
1983
I-406
to
I 440
175,000.00
1984
; and
1985
B. Subseries R. The bonds comprising Subseries R (herein sometim s designateda9l
the"Refundin Bonds shall consist of 60 bonds in the denomination of ti 0a des each,
issued for theexcept for dpurposered R-1 andhereinafte rstated,which
inshall
the principal amouhe mination of $1,000.00 ea'h,'
egular
numberedcandvmturingrseriallyuinrregularical dnumericaer from l orderRonOtheoth inclusiveOf 00and'being
er'
of the designated amounts and years, as follows: first day of June in each
Bond Plumbers
All Inclusive)
Amounts
Maturing
Years
R- 1 to R- 8
32,000.00
Maturing
R- 9 to R-15
35,000.00
1966
R-16 to R-22
35,000.00
1967
R-23 to R-29
35,000.00
1968
R-30 to R-36
35,000.00
1969
R-37 to R-44
40,000.00
1970
R-45 to R-52
40,000.00
1971
R-53 to R-60
40,000,00
1972
1973
153
PRIOR REDEMPTION
A. Subseries I Improvement Bonds numbered I-1 to 1-112, both inclusive,
maturing on and before the first day of December, 1974, shall be subject to redemption
prior to their respective murities, at the option of -the City, in regular numerical order
on the first day of June, 1967, or on any interest payment date thereafter prior to•matur-
ity, upon payment of the principal amount of each bond so redeemed, accrued interest there-
on to the redemption date, and a premium consisting of five per centum (50 of the Princi-
pal amount of each Improvement Bond so redeemed.. The prior redemption option hereinabove
provided shall not be exercised for the purpose of refunding the Improvement Bonds called
for prior redemption without the specific written, consent to such call by the holders of
those bonds, except as hereinafter provided. For all purposes, including refunding,
Improvement Bonds numbered I-113 to I-440, both inclusive, maturing on and after the first
day of December, 1975, shall be subject to redemption prior to their respective maturities,
at he Option of the City, in inverse numerical order, on the first day of December, 1974,
or on any interest payment date thereafter prior to maturity, upon payment of the principal
amount of each bond so redeemed, accrued interest thereon to the redemption date, and a
premium consisting of one per centum (1%) of the principal amount of each bond so redeemed.
B. Subseries R. For all purposes, Refunding Bonds numbered R-1 to R-60, both
inclusive, maturing on or before the first day of June, 1973, shall be subject to redemp-
tion priop to their respective maturities, at the option of the City, in regular !numerical
order, on the first day of December, 1965, or on any interest payment date thereafter prior
to maturity, upon payment of t he principal amount of each Refunding Bond so redeemed,
accrued interest thereon to the redemption date, and a premium consisting of five per cent -
um (5%) of the principal amount of each bond so redeemed.
An option to call the bonds of either subseries may be exercised independently of
any option to call bonds of the other subseries. In each instance thirty (30) days' prior
notice shall be -given by publication and by mail addressed (among others) to any original
purchaser of the bonds of a subseries or the manager of any purchasing syndicate. The
Cha-ter of the City of Fort Collins requires that all bonds be subject to prior redemption.
INTEREST RATES AND LIMITATIONS:
A. The maximuminterest rates are as follows:
1. Four and one-half per centum (4-1/2%) -per annum for improvement Bonds
numbered I-1 to I-440, both inclusive; and
2. Two and three -fourths per centum (2-3/4%) per annum for Refunding Bonds
numbered R-1 to R-15, both inclusive; and
3. Three and one-fourth per centum (3-4%) per annum for Refunding Bonds
numbered R-16 to R-60, both inclusive.
B. The maximum interest spread permitted for the Improvement Bonds is two per
centum 20 per annum, i.e., the maximum rate of interest accruing on any Improve-
ment Bond prior to its maturity cannont exceed the minimum rate of interest accru-
ing on any other Improvement •13ond prior to its maturity by more than two per centum (2/) per
annum. There is no maximum interest spread for the Refunding Bonds.
Interest on all of the 1965 revenue bonds shall be evidenced until maturity by only one (1)
set of coupons (supplemental interest coupons, i.e., "B" coupons, are not permitted) payable
to bearer and payable on the first day of December, 1965, and semiannually thereafter on
the first days of June and December in each year. It is permissible to bid different or
"split" interest ra es for said bonds, without limitation as to the number of rates speci-
fied, as sta ed only in the bid; provided, however, one interest rate only shall be stated
for any maturity of any subseries. Each rate stated must be in a multiple of one-eithth
(1/8) or one -twentieth (1/20) of one per centum (1%) per annum. If any 1965 bond shall not
be paid upon presentation at its maturity, it shall draw interest at the rate of six per
centum (6%) per annum until the principal thereof is paid in full.
PAYMENT: Both the principal of and the interest on the 1965 revenue bonds will
be payable to bearer in lawful money of the United States of America, without deduction for
exchange or collection charges, at the office of the Director of Finance and ex-officio City
Treasurer, in Fort Collins, Colorado.
BOND ORDINANCE: The ordinance authorizing the issuance of the 1965 bonds is known
as the 6-1-65 sewer revenue bond ordinance and was intorduced and passed on first reading
on the llth day of March, 1965. `
NO REGISTRATION FOR PAYMENT: The 6-1-65 sewer revenue bond ordinance contains,
and the bonds shall contain, no provision for the registration of the bonds for payment as
to principal, or interest, or as to both principal and interest.
SECURITY: All 1965 revenue bonds will, in the opinion of bond c3insel, be payable
both as to principal and interest, solely from, and the payment of the bonds is secured by
a pledge of, and they constitute an irrevocable and first lien (but not necessarily an
exclusively first lien) upon, the revenues derived from the operation of the City's munici-
pal sewer system (herein sometimes designated as the "system"), except for revenues derived
from the City's existing sewer trunk line assessments, sewer main line assessments, and sew-
er tap fees, and except for the plant investment fees which the City will impose by ordi-
nance No. 17, 1965, to be finally passed and adopted on the !Z�h day of April, 1965, subject
only to the payment of all necessary and reasonable expenses of the operation and mainte-
nance of the system; and as securityibr such payment there are exclusively pledged, pursuant
to the 6-1-65 sewer revenue bond ordinance, two special funds identified as the "City of
Fort Collins, Colorado, Sewer Refunding and Improvement Revenue Bonds, Series June 1, 1965,
Interest and Bond Retirement Fund," and the "City of Fort Collins, Colorado, Sewer Refunding
and Improvement Revenue Bonds,. Series June 1, 1965, Reserve Fund," into which the City
covenants to pay from the net revenues derived from the sewer system, sums sufficient to pay
when due the principal of and the interest on the bonds and to accumulate in about nine (9)
years and to maintain thereafter a continuing deb# service reserve for such purpose in the
sum of $180,000.00.
154
— -- Marsh 11., 1965
OUTSTANDING BONDS: The City has issued no bonds which are now outstanding and
to which any revenues derived by the City from the operation of the system are pledged for
their payment, excepting, however, the City of Fort Collins Sewer and Water Bonds, dated
March 1, 1948 (hereafter sometimes designated as the "1948 revenue bonds"), issued in the
original principal amount of $195,000.00, consisting of 195 bonds in the denomination of
$1,000.00 each, and maturing serially on March 1 in varying amounts of principal in each of
the years 1949 bo 1967, both inclusive, of .which bonds in the principal amount of 035,000.09
are presently outstanding, consisting of bonds numbered 156 to 170, both inclusive, and
176 to 195, both inclusive, and the City of Fort Collins Sewer Improvement Revenue Bonds,
Series January 1, 1959 (herein sometime designated as the "1959 revenue bonds") issued in
the original principal amount of 0300,000.00, consisting of 300 bonds in the denomination
of 1,000.00 each, and maturing serially on the first day of January in varying amounts
of principal in each of the years 1960 to 1974, both inclusive, of which bonds in the prin-
cipal amount of $257,000.00 are presently outstanding, consisting of bonds numbered 44 to
300, both inclusive. The principal of the Refunding Bonds (with other moneys) will be
used to refund, pay and discharge the interest on and the principal of the 1948 revenue
bonds and the 1959 revenue bonds at their respective maturities.
ADDITIONAL OBLIGATIONS: Bonds or other obligations, subject to expressed condi-
tions, may be issued and made payable from the net revenues of the sewer system and having
a lien thereon suabordinante and junior to the lien, or, subject to additional expressed
conditions, having a lien thereon on a parity with the lien of the 1965 revenue bonds here-
in designated for sale, in accordance with the provisions of the bond ordinance.
AUTHORIZATION OF BONDS: The 1965 revenue bonds herein offered for sale are to be
uasued pursuant to the -1- sewer revenue bond ordinance, therein prescribing, among
other matters, the form, terms and conditions of the bonds, the manner and terms of their
issuance, the manner of their execution, t he method of paying them, the security therefor,
the disposition of revenues derived from the sewer system, and other details concerning the
bonds and the sewer system, including but not limited to covenants and agreements in con-
nection therewith, reference to which ordinance is made for further details.
PURPOSE OF SERIES: The Improvement Bonds are issued for the purpose of the im
provement and extension of the City's municipally owned and operated e purpose of by the
construction and other acquisition of additional sewage collection and treatment facilities
and everything necessary or incidental thereto. The Refunding Bonds were authorized to be
issued
dnfor the
ewpurpose
enof refunding, paying and discharging a like principal amount of
outstag (see Outstanding Bonds" above).
ORATE
existing asOaPhomr-raleAcityTwiith aT"Council-Managers a municipal
govern
corpoeation duly organized and
Constitution of the State of Colorado and a Charterr government" under Article XX of the
tion elected on the 22nd day of June, 195 framed and proposed by a charter conven•
at an election hld therein on the 5th da 4' andadopted by the qualified electors of the City
y of October, 1954.
POPULATION: The lati n population, as shown by the 1960 Federal Census, was
25,027, and the Cityts population is currently estimated to be 33,000.
TERMS OF SALE
BID
mit an uunccondiitiional andowrittenibiddform for Of
bid is required. Any bidder is required to
sub either or both subseries therein designated
specifying:
at which the The
bidder lowest
will rate
Purchase rates
the boof ndsest and premium, if any, at or above par
It is also requested for informational pur ores °f each subseries bid upon.
close for each subseries bid upon (as computed from
.loseis 'not required that each bid d1s
date of the bonds);
(2) The total net interest cost in dollars and cents to the City, and
(3) The average net interest rate in a stated per centum.
Each bid must also be enclosed in a sealed envelope marked on the outside:
"PROPOSAL FOR BONDS"'
and addressed to:
Mr. Miles F. 'use
H
City Clerk
P• 0. Box 580
Fort Collins, Colorado 80522
may
r for
bfor idssa e,bbutuanytbid must ted by nbegfoaeagltheeibond or bothhOf the s bseries herein designated
Hato
d containing a provision requiring acceptanceeof subseries therein designated.
pejected, ubleas each bid for each subseries so for
t hboth subseries
therefwill
be
id
certified check drawn onEach
a solventshall
bannk orctruetied by a separate cashier's check of or a
meptble to the and City0of Fort00 Cothens,iaamount °oppaty for each subseries bid upon, made
'Refunding Bonds. least $75,000.00 for the Improve)
of good
faith
pending his delivery of [he bonds, and such checks will be held as evidence d
to y be not acceptesuch checks shall be promptly returne
d.
BIDDFRIS OPTIONS: It is permissible, subject to expressed limitations, for any bidder;
id
split
aboveIf
(2)and
Tobbe relieved tofrthm bid
interest rates for the bonds (see "Interest Rate
offerebelow)d due to the repeal of tthhebexemr1s obfogati°n to purchase the bonds herein �n
pt io n
r federal income taxes (see "Tax Status
TAX STATUS: In the Opinion of bond counsel, the interest on the bonds is exeanPt'
155
(1) From state income taxes of the State. of Colorado under its present
laws, and
(2) From taxation by the United States under present federal in come tax
laws.
In the event that prior to the delivery of t he bonds to the successful bidder for the bon
herein offered for sale, the income received by private holders from obligations of the
same type and character shall be taxable by the terms of any federal income tax law here-
after enacted, the successful bidder, at its election made prior to the delivery of the
bonds, may be relieved of its obligations under the cent act to purchase the bonds. In
such case the contract to purchase the bonds will terminate, and the deposit accompanying
the purchaser's bid will be returned upon written request therefor being made to and
received by bond counsel prior to the delivery of the bonds.
SALE RESERVATIONS:
The City Council reserves the privilege:
(1) Of waiving any irregularity or informality in any bid.
(2) Of rejecting any and all bids for the bonds, and
(3) Of reoffering the bonds for sale', as provided by law.
BASIS OF AWARD: The bonds of each subseries, subject to such reservations, will
be sold to the highest and best responsible bidder making the bid for such subseries to
the best advantage of the City, which bidwill be determined by deducting the amount of th,
premium bid, if any, from the total amount of interest which the City would be required to
pay from the date of the bonds of such subseries to their respective maturity dates at the
coupon rate or rates specified in the bid, without reference to the possible redemption of
any of the bonds prior to maturity; and the award will be made on the basis of the lowest
net interest cost to the City. If there are two (2) or more equal bids for any subseries,
and of such equal bids are t he best bids received and are for not lees than the principal
amount if the bonds of said subseries and accrued interest, the City Council will determin,
which bid will be accepted.
SALE BELOW PAR, COMMISSION AND DISCOUNT PROHIBITED: None of the 1965 revenue bo
will be sold at less than their principal amount and accrued interest to the date of deli
ery, nor will any discount or commission be allowed or paid on the sale of the bonds.
TIME OF. AWARD: The City Council will cause bids to be opened at the time here-
inabove specified. It intends to take action, upon determining he best bid or bids,
awarding the bonds or rejecting all bids forthe bonds of any subseries, at a regular meet-
ing at City Hall Council Chambers in Fort Collins, Colorado, convening at the hour of 1:30
o'clock P.M., Mountain Standard Time, of the day herein specidied forcpening bids. In any
event the City Council will take action awarding the bonds or rejecting bids not later than
twenty-four (24) hours after the expiration of the time herein specified for opening bids.
MANNER AND TIME OF DELIVERY: The deposit of the best bidder for each subseries
will be credited to the purchaser thereof at t he time of delivery of the bonds (without
accruting interest). If the successful bidder for any subseries fails or neglects to com-
plete the purchase of the bonds of said subseries within ten (10) days after the bonds of
said subseries are made ready and are tendered by the City for delivery, the amount of
this deposit will be forfeited (as liquidated damages for non-compliance with the bid) to
the City, except as hereinafter provided. In that event the City Council may reoffert he
bonds of said subseries for sale as provided by law. The purchaser of a subseries will
not be required to accept delivery of any of the bo rids thereof if all t he bonds of said
subseries are not tendered for delivery within seventy (70) days from the date herein
stated for opening bids; and if the bonds are not so tendered within said period of time,
the good faith deposit will be returned to the purchaser upon its request. The City con-
templates, however, effecting the delivery of the bonds of botii subseries to the purchasers
thereof in about forty-five (45) days f rom the date herein d esignated for opening bids and
as soon as reasonably possible thereafter.
PAYMENT AT AND PLACE OF DELIVERY: The successful bidder or bidders will be re-
quired to accept delivery of, and to make payment of the balance due for, the bonds of
each subseries:
(1) At some bank or trust company in the City and County of Denver, Colorado, o
(2) At the successful bidder's request and expense, at some other bank or trust
company in the United States of America, as requested.
Payment of the balance of the purchase price due for the bonds of a subseries at delivery
must be made in funds acceptable to the City and to the bank or trust company designated
as the place of delivery for immediate and unconditional credit to the City, or as directs
by the City. The place of delivery of one subseries, however, shall not be so removed fro
the place of delivery of the other subseries as to make unneccessarily difficult their mor
or less simultaneous issuance. The City reserves the right to limit the place of delivery
as provided in this paragraph to the extent the City deems it des rable so to do to issue
the Improvement Bonds and Refunding Bonds more or less simultaneously.
LEGAL OPINION, BONDS AND TRANSCRIPT: The legality of the 1965 revenue bonds will be
approved by Messrs. Dawson, Nagel, Sherman & Howard, Attorneys at Law, 1900 First National
Bank Building, Denver 2, Colorado, whose unqualified, final, approving opinion, together
with the printed bonds and a certified transcript of the legal proceedings, including a
certificate stating that there is no litagation pending affecting the validity of the bond
as of the date of their delivery, and other closing documents, will be furnished the
purchasers without charge by the City. A certified true copy of the approving opinion of
bond counsel shall be printed on each bond thereof at the City's expense -
INFORMATION: This Official Notice of Bond Sale (a condensation of which was ordered
published and -financial and other information concerning the City and,the 1965 revenue
bonds may be obtained from the Ci.ty's City Clerk and its Fiscal Agent, respectively, as
follows:
Miles F. House
City Clerk
City Hall
Fort Collins, Colorado 80522
and
156
Boettcher and Company
828 Seventeenth Street
Denver, Colorado 80202
FORM OF OPINION: The final and unqualified approving opinion appertaining to the
1965 revenue bonds will recite, in conventional form, that the designated bond counsel has
examined the Constitution and laws of the State of Colorado, the Charter of the City, and
a certified copy of the record of the proceedings of the City Council taken preliminary to
and in the issue of the coeds of the issue, describing them in some detail, and that bond
counsel has examined bonds numbered I-1 and R-1 of said issue and has found the same pro-
perly executed and in due ligal form. The last paragraph of the opinion will read (subject
to the provisions hereinabove entitled "Tax Status") substantially as follows:
"It is our opinion that:
"(1) Subh proceedings show lawful authority for the 1965 revenue bonds under the
laws of the State of Colorado and the City of Fort Collins now in force;
"(2) The 1965 revenue bonds are valid and legal obligations of said City, payable
and payment shall be made, solely from the net revenues derived from the operation of
the municipal sewer system (except for certain revenues which may at the City's
option be excluded), the new income of which is pledged therefor, and as security for
such payment there are irrevocably and exclusively pledged two special funds identi-
fied as the City of Fort Collins, Colorado, Sewer Refunding and Improvement Revenue
Bonds, Series June 1, 1965, Interest and bond Retirement Fund,I and as t he (City of
Fort Collins,Colorado, Refunding and Improvement Revenue Bonds, Series June 1, 196.,
Reserve und,'into which funds the City has convenanted to pay from the revenues
derived from the operation of the sewer system, after provision only for all necessary
and reasonable expenses of the operation and maintenance of the sewer system, sums
sufficient to pay, when due the principal of and the interest on the bonds, and to crea;o
and maintain a reasonable reserve for such purpose;
"(3) Said 1965 revenue bonds constitute an irrevocable and first lien (but not
tocdesignatednexceptions, firsaftert lien) upon the revenues of said sewer system, subjectrovision only for p p
and maintenance expenses; the aforesaid payments of operation
ising
charge, on and beforectherfirstt day O fiJa R have been issued to refund, pay and dis-
standing in the aggregate principal amountuofy �997 , the ity,snd revenue
bonds'City of
Fort lins
ewer and
CollinslSewerSImprovementter Revenuenue Bondshds t So . ated March 1, 1948, and 'City of Fort
designated issues being refunded have* es January 1, 1959, the payment of the
the municipal sewer system, but for the been secured by a pledge of the net income of
escrow with the First National Bank in Fort
of which there have been deposited in
oat Of
Colorado refunding bond proceeds
and other moneys, except to the extent of their investment io,direct ingi anions of the
certUnitifiedates of America, public accountants,,thecording esccrow to a report of Peat, Marwick, Mitchell &Co„
field from said federal securities is w+ together with the interest on and any other
and at all times subsequently, to pay fully sufficient, at the time of the deposit
standing bonds so refunded as tthe same becomerincipal of and the interest on the out -
due; and
( Interest on the 1965
revenue Statesof Americaunderpresentfederalbonds is exempt from taxation by the United
exempt from the state income taxes of income tax laws and such interest is also
P the State of Colorado under its present laws."
By order of City Council
th day ofMarch, 1965of the City of Fort Collins, Colorado, dated this
SEAL)
TTEST
s/ Miles F. Hous
City Jerk
sl Harvev G. Johnson
City of Fort Collins
(End of Form of Official Notice of Bond Sale)
Section
h at OfficialNotiicesofoBond1Sale bond
rsll be opened at the time, place and manae�'
erein prescribed.
nd directed etoitake all haction necessar oat the officers of th'City be
r, and they hereby are, authorized f
Y
e,solution, appropriate to effectuate the provisions of thii
on 7. hat all orders by - laws
lict with this lresolution, are hereby rrepealed.and resolutions, or parts thereof, in con
Section 8. That if any one or more
esolution shall flor any reason be questioned osections, sentences, clauses or parts of this`
ffect impair or invalidate the remaining provis:- invalid, such judgment shall not
P ions Aeration to the specific sections, sentences, clauseshore�artbut
shall
this besconfined
on sinhits
nvalid.
nd approval.
9. That this resolution shall be in full force and effect after oassaCe
PASSED AND APPROVED this llth day of March, 1965.
SEAL) Mayor
Harvey G. Johnson
Mayor
/s/ I��es„F. House
157
It was thereupon moved by Councilman McMillan, seconded b y Councilman Colwell,
that any rule of the City Council which would prevent the passage of said resolution at
this meeting be suspenced, and said resolution be placed upon its final passage. The roll
was called upon said motion the with the following results: Ayes: Councilmen Johnson,
Colwell, McMillan, Guyer and Councilwoman Quinn. Nayes: None.
The presiding officer declared the motion carried and the rules suspehced, and
said resolution placed upon its final passage.
Councilwoman Quinn then moved that said resolution be passed as read. Councilman
Guyer secondedthe motion. The motion being upon t he fiml passage of the resolution, the
roll was called with the following results: Ayes: Councilmen Johnson, Colwell, McMillan,
Guyer and Councilwoman Quinn. Nayes: The President declared he motion adopted.
Councilwoman Quinn introduced an ordinance, which ordinance was thereupon read in
full and is as follows:
It was thereupon moved by Councilman Guyer, seconded by Councilwoman Quinn, that
the foregoing ordinance entitled:
ORDINANCE NO. 16, 1965
"AN ORDINANCE TO CONTRACT AN INDEBTEDNESS ON BEHALF OF THE CITY OF FORT COLLINS, COLORADO,
AND UPON THE CREDIT THEREOF, BY ISSUING THE NEGOTIABLE, COUPON, CITY OF FORT COLLINS, COLO-
RADO, GENERAL OBLIGATION WATER BONDS, SERIES JUNE 1, 1965, IN THE AGGREGATE PRINCIPAL
AMOUNT OF 03,200,000.00 FOR THE PURPOSE OF SUPPLYING WATER TO SAID CITY BY CONSTRUCTING AND
OTHERWISE ACQUIRING EXTENSIONS, ADDITIONS AND. IMPROVEMENTS TO THE MUNICIPAL WATERWORKS
SYSTEM AND EVERYTHING NECESSARY OR INCIDENTAL THERETO, INCLUDING THE ACQUISITION OF ADDI-
TIONAL SOURCES OF WATER; PRESCRIBING THE FORM, TERMS AND CONDITIONS OF SAID BONDS, THE
MANNER AND TERMS OF THEIR ISSUANCE, THE MANNER OF THEIR EXECUTION, THE METHOD OF PAYING
THE BONDS AND THE SECURITY THEREFOR, AND OTHER DETAILS IN CONNECTION THEREWITH; PPROVIDING
FOR THE LEVY AND COLLECTION OF GENERAL (AS VALOREM) TAXIES FOR T HE PAYMENT OF SAID BONDS;
ALSO PROVIDING FOR THE DISPOSITION OF REVENUES FROM THE OPERATION OF THE WATER WORKS SYSTEM
PROVIDING COVENANTS, AGREEMENTS AND OTHER DETAILS AND MAKING OTHER PROVISIONS CONCERNING
SAID TAXES, SAID REVENUES, SAID SYSTEM, SAID BONDS, THE REVENUES PLEDGED FOR THEIR PAYMENT,
ANDTHE ISSUANCE OF ADDITIONAL BONDS PAYABLE FROM SAID REVENUES; AND RATIFYING ACTION PRE-
VIOUSLY TAKEN IN CONNECTION WITH THE FOREGOING."
and read in full at t his meeting, as aforesaid, be passed on first reading and published
inf ull in the Fort Collins Coloradoan, a newspaper of general circulation published in the
City of Fort Collins, in its issue of March 16, 1965, and that said ordinance, at least
ten days after it is published as sforesaid and after a public hearing is held thereon at
the meeting hereinafter designated, be considered for final passage at a regular meeting of
the City Council to be held at City Hall Cbuncil Chambers, in Fort Colins, Colorado, on
Thursday, the lst day of April, 1965, at the hour of 1:3.0 o'clock P.M.
The question being upon the adoption of said motion the roll was called resulting
as follows: Ayes: Councilmen Johnson, Colwell, McMillan, Guyer and Councilwoman Quinn.
Nayes: None. The President declared the motion adopted.
Councilman McMillan introduced the following resolution, whimh was read in full
and is as follows:
RESOLUTION
RESOLUTION PROVIDING FOR THE PUBLICATION OF NOTICE OF SALE OF THE CITY OF FORT COLLINS,
OLORADO, GENERAL OBLIGATION WATER BONDS.
WHEREAS, the City of Fort Collins (herein sometimes designated as the "City"), in
the County of Larimer 4nd State of Colorado, has determined, and does hereby determine,
that the City of Fort ollins, Colorado, General Obligation Water Bonds, Series June 1. 1965
(herein sometimes designated as the "bonds"), as authorized by an ordinance entitled:
"An Ordinance to contract an indebtedness on behald of the City of Fort Collins, Colo-
rado, and upon the credit thereof, by issuing the negotiable, coupon, City of Fort
Collins, Colorado, General Obligation Water Bonds, Series June 1, 1965, in the aggre-
gate principal amount of $3,200,000.00 for the purpose of supplying water to said City
by constructing and otherwise acquiring extensions, additions and improvements to the
municipal water works system and everything necessary or incidental thereto, including
the acquisition of additional sources of water, prescribing the form, terms and condi-
tions of said bonds, the manner and terms of their issuance,t he manner of their
execution,the method of paying the bonds and the security therefor, and other details
in connection therewith; providing for the levy and collection of general (ad valorem)
taxes for the payment of said bonds; anso providing for the disposition of revenues
from the operation of the waterworks system; providing covenants, aggeements and other
details and making other provisions concerning said taxes, 'said revenues, said system,
said bonds, the revenues pledged for their payment,and the issuance of additional
bonds payable from said revenues; and ratifying action previously taken in connection
with the foregoing.
lhtroduced and passed on first reading on the llth day of March, 1965, should be publicly so
after the final passage of said ordinance.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS:
Section 1. That the City of Fort Collins, Colorado, General Obligation Water
3onds, Series June 11 1965, in the principal amount of $3,200.000.00 be, and the same hereby
ire ordered to be, publicly advertised for sale; and that the City Council on Thursday, the
ath day of May, 1965, at the hour of 1:30 o'clock P.M. at City Hall Council Chambers in the
158
Marc
City, will eahse sealed bids to be received and to be opened publicly for the purchase
of the bonds.
Section 2. That the Mayor and the Director of Finance, be, and 'the same hereby
are, authorized and directed:
A. To have published a notice of sale of the bonds at least once at least five
days prior to the sale date in each of the following:
(1) The Fort Collins Coloradcan, a newspaper circulating in the City, and
(2) Daily Journal, a financial newspaper published in Denver, Colorado, and
B. to cause copies of such notice, the Official Notice of Bond Sale, or summaries
thereof to be published or furnished to such other financial journals and to such pros-
pective bidders as may be determined by said officers and the Cityls Fiscal Agent,
Section 3. That said notice of bond sale to be so published shall be in substan-
tially the following form:
(Form of Notice for Publication)
NOTICE OF BOND SALE
CITY OF FORT COLLINS, COLORADO
GENERAL OBLIGATIOH WATER BONDS
SERIES JUNE 1, 1965 - $3,200,000.00
NOTICE IS HEREBY GIVEN that the City Council of the City of Fort Collins, Colo"
rado, will on Thursday, the 6th day of May, 1965, at the hour of 1'30 o'clock P.M. MST, at
City Hall Council Chambers in Fort Colorado, receive sealed bids and publicly 'Pen
the same for the purchase of the Collins,City,s general obligation, negotiable, coupon bonds, de-
signated City of Font Collins, Colorado Geneal Obligation Water Bonds, Series June 1,
1965," in the ag regate principal amount,of $3,?00,000.00, consistingof 640 bonds in the
denomination of E 000.00 each, and maturing serially on the first day of December, as
follow
Amounts
Maturing
Years
Maturi�
Amounts
Maturing
years
Mafurin
15,000.00
15,000.00
1967
1968
$ 195,000.00
1977
15,000.00
1969
200,000.00
1978
125,000.00
1970
205,000.0o
1979
155, 000.00
1471
215,000.00
1980
-165,000.00
1972
220,000.00
1981
170,000.00
1973
230,000.00
198,2
175,000.00
1974
2,000.00
1983
180,000.00
�975
2455000
,00
1984
185,000.00
1976
255,000.00
1985
The bonds will bear interest from date until maturity at a rate or ,rates not exceeding fpQrll
and one-half per centum per 'anhum said interest heir of
theone
coupons firstsday ofental December,1965coupons, i.e., "B" coupons, are notepermitted),nced by ypayabletOn
and Decemberyin each year. Not,more nd semiannually thereafter on the first days of June,
ity. Each interest rate evidenced b than one interest rate all be i shall be stated for any matuv'
1� per ahnum; and the maximum different oth ialy any cbePweenon hthe lowesta multiple of 1X8 or 1120 of
Directornot eof2Financeper narid exBofficionCityl and interest will be Payable thepofficerates
OfMay
t°e
y Treasurer, in Fort Collins, Colorado.
onds
ing on or
in regularBnumericalrorder, at ttheore CitDeseober tions 1974, will be subject to rior redemption
meet date thereafter, forpthe Principal amount thereofOn ,naccrued67' °r on anp interest Pay
date and a five per cent j The interest to the redemption
not be exercised for the purpose Of tenundingrthem bonds
option hereinabove provided shall
athefterpprovidedecific ritFor conall ent to suchrcalldby the bonds called for prior redemption without
1 will be subject
including refundiners of those bonds, except as herein
her 1, 975, ject to prior redemption in gs bonds maturing on avd after Decem
option, on December 1, 1974, or on an inverse numeridal order, atthe City"
y interest payment date thereafter, for the principal
amount of each bond so redeemed, accrued interest thereon to the redemption date, and p0
purchaser oflthe bonds oritheor nmanageotice byofuanication and by mail addressed to the original
redemption. No provision will be made for t heuregistratienrcha7singdicate shall be given of such
Said bonds shall be e bonds for payment.
tation imposed by the City Charter. from general (as valorem) taxes 1'
and interest and their The bonds are also payable from ' subject to the lim
payment is additionally secured b "both as to principal
derived from the waterworks system (subject to deli natedy a pledge of, the not revenues
No. 16, 1965, finally passed and adopted by the Council oneACeptiotis nonce
is made for further details. )s purshant to Ordi
Aril 1,1965, reference to which
Each bidder is required
e u ired an submit a written bid specifying
rates of interest and y,, a or above par at � hichsthe lowest rate Or
such bonds. Proposals must be in writing and enclosed such bidder will punch °
outsider""Proposal
for
Bonds,o. Aand
addressed to Mr. Miles nFa sealed envelope marlsi on the
le bids shall be uheonditional and
accompanied b a depositlor of at House, City Clerk, P. 0. Box
certified check on solvent bankorttrust00o'00' either in cash orealed, and shall be
which deposit shall be promptly returned if ompabid payable to t cashier's check or
he City of Fort Collins,
is not accepted.
159
The deposit of the best bidder will be credited to the purchaser at the time of
delivery of the bonds (without accruing interest). If the successful bidder fails or neg-
lects to complete the purchase of said bonds within thirty days immediately following the
acceptance of his bid, or within ten days after the bonds are made ready and are offered by
the City for delivery, whichever is later, the amount of this deposit will be forfeited to
the City, in such case, or if all bids are rejected,t he Council may resell the bonds as
provided by law, The purchaser will not be required to accept delivery of said bonds if
they are not tendered for delivery within sixty days from the date herein stated for open-
ing bids;: and the good faith deposit thereaftem w ill be returned to the purchaser upon his
request.
The Council reserves the privilege of waiving any irregularity or informality in
any bid, or rejecting any or all bids and of reoffering the bonds for sale. The bonds of
said series, subject to such reservations, shall be sold to the highest and best bidder
making the bid for the bonds to the best advantage of the City, which bid will be determin-
ed by deducting the amount of the premium bid, if any, from the total amount of interest
which the City would be required to pay from the date of the bonds to their respective
maturity dates at the coupon rate or rates specified in the bid, without referencetothe
possible, redemption of any of the bonds prior to maturity; and the award will be made on
the basis of the lowest net interest cost to the City.
The successful bidder or bidders will be required to accept delivery of and to
make payment for waid bonds at some bank or trust company in Denver, Colorado, or at the
successful bidder's request and expense, delivery will be made at some other bank or
trust company in the U. S. A.
The legality of the bonds will be approved by Messrs. Dawson, Nagel, Sherman &
Howard, Attorneys at Law, 1900 First National Bank Building, Denver, Colorado, whose opin-
ion, together with the printed bonds (including that opinion printed thereon), will be fur-
nished the purchaser without charge. The Official Notice of Dond Sale, of which this pub-
lication is a condensation, financial and other information concerning said bonds and said
City may be obtained from Miles F. House, City Clerk, Fort Oollins, Colorado or from the
City's fiscal agent, Boettcher and Company, 828 Seventeenth Street, Denver, 6olorado 80202.
SATED at Fort Collins, Colorado, this llth day of March, 1965.
Isl Harvey G. Johnson
Mayor
City of Fort Collins, Colorado
(SEAL)
ATTEST:
Isl Miles F. House
City ulerk
(End of Form of Notice for Publication)
Section 4. That the Official Notice of Bond Sale sball be in substantially the
following form:
(Form of Official Notice of Bond Sale)
OFFICIAL NOTICE OF BOND SALE
CITY OF FORT COLLINS, COLORADO
GENERAL OBLIGATION WATER BONDS
SERIES JUNE 1, 1965 - $3,200.000.00
PUBLIC NOTICE IS HEREBY GIVEN that the City Council of the City of Fort Collins
(herein sometimes designated as the "City"), in the County of Larimer and State of Colorado
will, on Thursday, the 6th day of May, 1965, at the hour of 1:30 o'clock P.M., Mountain
Standard Time, at City Hall Council Chambers, in Fort Collins, Colorado, receive sealed bid
and publicly open he same for the purchase of the City's negotiable, coupon, general obli-
gation water bonds, particularly described below:
BOND PROVISIONS
ISSUE: "City of Fort Collins, Colorado, General Obligation Water Bonds, Series
June 1, 1965_,_" in the principal amount of $3,200.000.00, consisting of 640 bonds numbered
consecutively from 1 to 640, both inclusive, in the denomination of $5,b00.00 each, dated
the first day of June, 1965, and payable to bearer.
MATURITIES: The bonds will be numbered and mature serially in regular numerical
order ont he first day of December in each of the designated amounts and years, as follows:.
Bond Numbers
Amounts
Years
(All Inclusive)
Maturing
Maturing,
1 - 3
$ 15,000.00
1967
4 - 6
15,000.00
1968
7--9
15,000.00
1969
10 - 34
125,000.00
1970
35 - 65
155,000.00
1971
66 - 98
165,000.00
1972
99 - 132
167
170,000.00
175,000.00
1973
1974
133 -
168 - 203
180,000.00
1975 °
204 - 240
185,000.00
1976
241 - 279
195,000.00
1977
1978
280 - 319
360
200,000.00
205,000.00
1979
20 -
361 - 403
215,000.00
1980
R160
404
- 447
$ 220,000.00
1981
448
- 493
?30,000.00
1982
494
- 540
235,000.00
1983
541
- 589
245,000.00
1984
590
- 640
255,000.00
1985
PRIOR REDEMPTION: Bonds numbered 1 to 167, both inclusive, maturing on or before
the first day of ecember, 1974, shall be subject to redemption prior to their respective
maturities, at the option of the City, in regular numerical order, on the first day of June
1967, or on any interest payment date thereafter prior to maturity, upon payment of the
principal amount of each bond so redeemed, accrued interest thereon to the redemption date,
and a premium consisting of five per centum (5%) of the
redeemed. The prior redemption option hereinabove Principal amount of each bond so
of refunding the bonds called for provided shall not be exercised written
for the
purpose g prior redemption without the specific written con
sent to such call by the holders of those bonds, except as hereinafter provided. For all
purposes, including refunding, bonds numbered 168 to 640, both inclusive, maturing on and
after the first day of ecember, 1975, shall be subject to redemption prior to their respec
ive maturities,
, or on aoption of interestheCity, in inverse numerical order, on the first day of
December,opayment date thereafter prior to maturity, upon payment
the principal amount of each bond s
redeemed, accrued interest thereon to the redemption
date, and noand prebium. The
optied_shon all ll beexercised by giving thirty days ' prior notice by
publiiy original purchaser of t he bonds or the manager of
any purchasing syndicate.
INTEREST RATE: The maximum interest rate is set o£ coupons four and ope-half per centum O}-z�)If
per antrum, evidenced until maturity by only one (supplemental interest
coupons, i.e., "B" coupons, are not permitted), payable on the first da of December, 1965P
todthemforegoing,nually testis£ter on permissibleftosbidays of differenteorn'd''Lece+nlper in each year. Subject
without limitation as to the number of rates s split interest rates for said
bonds, yspecified paturity. provided, however, that not I,
more than one interest rate ma be tatein a for any maturity, Each interest rate specified.
and evidenced by any coupon must be%jtperdannum,multiple of one -eighth (1/8th) or one -twee-!
Beth (k.20th) of one per centum (lo The maximum to its maturity may not exceed the minimum interest interest rate on any bond pritir
on any other bond of said issue by More, -
than two
per
annum. If
interestbatdtheall rateot be paid upon presentation at itsll
until the principal thereof is paid in fu11, of six per centum (6%) per antrum it
PAYMENT: Both the principal of andthe interest on the bonds will be payable in
lawful money
ytof the United
office of tStathe es O oAmerica,
without deduction for exchange or collection
charges, at Colorado. Financer Of and exofficio
Collins, City Treasurer, in Fort
REGISTRATION
toFOR
be registered for authorizing ordinance will contain no provision
permitting i payment as to
sepal and interest, or as to interest alone, principal alone, or as to both Pr"
The
onds
for
Ordinance No. 16,ORDINANCE:6,inallybpassedeandnadopteddon t sale are to be issued pursuant to
providing, among other matters, the form, terms, andncomditio st day of April, 1965, therein
terms of their issuance, the manner of their execution,t he ns of the bonds, the manner an
surety taedesarnated asstthei't'"shstof em°revenues derived from theethodwate of paying them, the se
sometir9g y ); in cludi whighbut notordinancemitedttow�ovenahtseandagreein
meets in connection therewith, reference to
is made for further detail.
City, payableMasYtoEbothTprincipalY: The bandsinterest will be the direct general obli ation bonds of the
against all taxable prope ty within the City, subjecttoethe (as Val
orem) taxes levied
charter- limitation City
imposed by the
ADDITIONAL SECT.TRITY: The bonds will be payable
eet from, and they constitute an irrevocable and first lien
as to principal and inter
live ly first lien) upon the revenues derived from the Operation (but
not necessarily an excl
eat only to the payment of all necessaryex u'
maintenance of the system, as limited and oherwireasonable pensesthe waterworks systed,
as security for such payment there is pledged, pursu$htvided in Of the operation anendl
t.
account identified as the City of Fort Coll' said Ordinance No. 16, 1965,
s June 1, 1965, Interest and Bond RetiremehtCFunda'd'o' GeneraldOblica' a spsecial
Series he net revenues derived from the Bonds,
pay from t waterworks into Obligation Water
the ryst
dinancelNo. Iof nd 1965,the nforefurtherst on hinPormationondthe desie, "1sted serieicient toch the City vpaynwhenadts to de.
to ordinance
comprising the designated concernin Reference is m
about the P g g bond series. g said account and other detail
OUTSTANDING BONDS: The city has heretofore issued
Bondh,aretnowthe
outstandingyinftheMarch,
principal amount the ofi anal princiipalramoduntaofr Revenue
00,
whi herein offered for sale the 1 35,000,
the bonds 948 revenue bonds OObe Before t he delivery of
(escrow) refunding. The refunding bonds will constitute will the
sewer system. For further details, reference is lien onlefunded by an advance
a
ordinance' passed and adopted on the 1st day of Aaailth the "6-1-65 Upon revenues of
Bond
issued its general obligation Refunding Water Bonds, dated,1965 The Cifirst ty has also Revenretoue
the ing Waternbonds"),al ithichpal maretnow oof 600t,ndinOg0ihhihelprsometimes designatedhe
day othept19501refund,
City has also issued its General Obligation WaterExtensionncipa1 amount of $170 000.00; and the,
June, 1954, in the original principal amount of1,500,000Bonds, dated the first day of p
the "1954 water extension bonds'), which ar,e now Outstanding 00 (herein sometimes designated
�548,000,00. The 1950 refunding water bonds and the 1954 water the principal amount of
paid from the net revenues of the waterworks system on a grit extension bonds will be
for sale. The City has convenanted to maintain rates as parity with the bonds herein offer
revenues or other earnings annually to pay ,the annual and charges sufficient tolproduce
the waterworks system and an amount equal to one hundred twent and maintenance expenses ofR
the combined maximum annual principal and interest requirementsy-five per centum (125%) Of
her
therefor); provided, thatble annually fInmdetermany inenues of the waterworks system on b(excluding onds and hthetreserves
l^
' g the ,amount of reveunes there shall e excluded any
161
(water main assessments, water tap fees, and plant investment fees which the city shall have
determined not to include. in gross revenues as permitted by,the ordinance authorizing the
bonds.
ADDITIONAL OBLIGATIONS: Bonds or other obligations, subject to expressed condi-
tions, may be issued and made payable from the net revenues of the waterworks system and
having a lien thereon subordinance and junior to the lien, or, subject to additional
expressed conditions, having a lien thereon on a parity with the lien of the bonds herein
designated for sale, in accordance with the provisions of Ordinance No. 16,1965.
PURPOSE OF ISSUE: The bonds were authorized for the purpose of supplying water
to said City by constructing and otherwise acquiring extensions, additions, and improve-
ments to the municipal waterworks system and everything necessary or incidental thereto,
including the acquisition of additional sources of water.
CORPORATE ORGANIZATION: The, City is a municipal corporation duly organized and
existing as a home -rule city under Article XX of the Constitution of the State of Colorado
and a Charter framed and proposed by a charter convention, and adopted by the qualified
electors of the City at an election held therein on the 5t1a day of October, 1954,
POPULATION: The City's population, as shown by the 1960 Federal Census, was
25,027, and the population is currently estimated to be 33,000.
TERMS OF SALE
BID PROPOSALS: No specified form of bid is required. Each bidder is required to
submit an unconditional bid specifying 7a) the owest rate or rates of interest and prem-
ium, if any, at or above par at which the bidder will purchase saie bonds. It is also
requested for informational purposes only, but is not required, that the bid disclose (b)
the total net interest cost in dollars and cents to the City; and (c) the average net
interest rate in a stated per centum. Each bid must also be in writing for all the bonds
herein offered, enclosed in a sealed envelope marked on the outside "Proposal for Bonds"
and addressed to Mr. Miles F. House, City Clerk, P. 0. Box 580, Fort Collins, Colorado.
BID CHECK: Ecah bid shall be accompanied by a deposit of a cashier's check of
a certified check of a solvent bank or trust company made payable to the City of Fort
Collins, in an amount of at least $100,000.00,or by cash deposit in like amount. Such chec
or cash deposit will be held as evidence of good faith pending the delivery of the bonds,
which deposit (check or cash) shall be .promptly returned to any such bidder if his bid be
not accepted.
BIDDER'S OPTIONS: It is permissible, subject to expressed limitations, for any
bidder:
(1) To bid different or split interest rates for the bond (see "interest Rate"
above), and
(2) To be relieved of the bidder's obligation to purchase the bonds herein offe
ed due to the repeal of the exemption for federal income taxes (see "Tax Status" below).
TAX STATUS: In the opinion of bond counsel, the interest on the bonds is exempt
from taxation by the United States under present federal income tax laws. In the event tha
prior to the delivery of the bonds to the successful bidder for the bonds herein offered fo
sale, the income received by private holders from obligations of the same type and characte
shall be taxable by the terms of any federal income tax law hereafter enacted, t he success-
ful bidder, at its election made prior to the delivery of the bonds, may be relieved of its
obligation undert he contract to purchase the bonds. In such case the contract to.purchase
the bonds will terminate, and the deposit accompanying the purchaser's bid will be returned
upon written request therefor being made to and received by bond counsel prior to the
delivery of the bonds.
SALE RESERVATIONS: The City Council reserves he privilege;
(1) Of rejecting any and all bids for the bonds, and
(2) Of waiving any irregularity or informality in any bidl
(3) Of reoffering the bonds for sale, as provided by law.
BASIS OF AWARD: The bond issue, subject to such reservations, will be sold to the
highest and best bidder making the bid for the bonds to the best advantage of the City, whic
bid will be determined by deducting the amount of the premium bid, if any, from the total
amount of interest which the City woul be required to pay from the date of the bonds to
their respective maturity dates at the coupon rate or rates specified in the bid, without
reference to the possible redemption of any of the bonds prior to maturity; and the award
will be made on the basis of t he lowest net interest cost to the City. If there are two
(2) or more equal bids for the issue, and if such equal bids are the best bids received
and are not for less than the principal amount of thebonds and accrued interest, the City
Council will determine which bid will be accepted.
SALE BELOW PAR, COMMISSION AND DISCOUNT PROHIBITED: None of the bonds will be
sold at less than their principal amount and accrued interest to the date of delivery,, nor
will any discount or commission be allowed or paid on the sale of the bonds.
TIME OF AWARD: The City Council, upon opening bids as hereinabove provided,
ntends to determine immediately the best bid and to take action awarding the bonds; and the
ity Council in any event will take action awarding the bonds or rejecting all bids for the
ends within twenty-four hours of the time herein sta ad for opening bids.
MANNER AND TIME OF DELIVERY: The deposit of the best bidder will be credited to
e purchaser at the time of delivery of the bonds (without accruing interest). If the
ccessful bidder fails or neglects to complete the purchase of said bonds wiVh f thirty
ys next following the acceptance of his bid, or within ten (10) days next after the bonds
e made ready and are tendered by the City for delivery, whichever is later, the amount of
162
his deposit will be forfeited to the City, except as hereinafter provided. In that event
he City Council may reoffer the bonds for sale as provided by law. The purchaser will not
e required to accept delivery of any of said bonds, if they are not tendered for delivery
ithin sixty, days from the date herein stated for opening bids; and if said bonds are not so
endered within said period of time, the good faith deposit will be returned to the purchas-
r upon its request. The City contemplates, however, effecting the delivery of the bonds
f said issue to the purchaser thereof in about forty-five days from the date herein designs
ad for opening bids and as soon as reasonably possible thereafter.
PAYMENT AT AND PLACE OF DELIVERY: The successful bidder or bidders will be requit-
to accept delivery of, and to make payment of the balance due for the bonds:
'I
(1) At some bank or .trust company in Denver, Colorado, or
(2) At the successful bidder's request and expense, at some other bank or trust',
pany in the United States of America, as requested.
ayment of the balance of the purchase price due for the bond issue at delivery must be in
unds acceptable to the City and to the bank or trust company designated asthe place of de-
ivery for immediate and unconditional credit to the City, or as directed by the City.
LEGAL OPINION, BONDS AND TRANSCRIPT: The legality of the bond issue will be
pproved by Messrs. Dawson, Nagel, Sherman & Howard, Attorneys at Law, 1900 First National
ank Building, Denver 2, Colorado, whose unqualified, final, approving opinion, together with
he printed bonds and a certified transcript of the legal proceedings, including a certifi-;i
ate stating that there i� no•ligagation pending affecting the validity of the bonds as of
he date of their delivery, and other closing documents, will be furnished the purchaser
ithout charge by the ity. A certified true copy of the approving opinionoof bond counsel
hall be printed on each bond thereof at the City's expense.
INFORMATION: This Official Notice of Bond sale (a condensation of which was order'
d published and financial and other information concerning the City and the bonds may be
btained from the City's City Clerk and its Fiscal Agent, respectively, as follows:
Miles F. House
City Clerk
P.O. Box 580
Fort Collins, Colorado
and
Boettcher and "ompany
828 Seventeenth Street
Denver, Colorado 80202
FORM OF OPINION: The final and unqualified approving opinion appertaining to the
)ond issue will recite, in conventional form, that the designated bond counsel has examined
;he Constitution and laws of the State of Colorado, the Charter of the City, and a certified
;opy of the record of the proceedings of the City Council taken preliminary to and in the
.slue of the bonds, describing them in some detail, and that bond counsel has examined bond
iumbered
oneofsaid issue and
has found
same properly executed and in due legal form.
'he paragraph opn' w(subject tothe provisions hereinabove entitled
Tax Status") substantially as follows:
It is our opinion that such proceedings show lawful authority for said issue of
bonds under the Constitution andlaws of the State of Colorado and the Charter of the Ci
of Fort Collins now in force; that said issue of bonds in the amount aforesaid is valid
and legally binding upon said City; that all of the taxable property in said City is
subject to the levy of a tax to pay the same, subject to the limitation imposed by the
Charter of the Ci.ty;'that the payment of said bonds is additionally secured by a pledge
of, and said bonds constitute an irrevocable and first lien (but not necessarily an ex-
clusively first lien) upon, the net revenues derived from the operation of the City's
waterworks system (except for certain revenues which may, at the City's option, be
excluded therefrom); pnvided, however, that the principal of and interest on the Chty's
General Obligation Refunding Water Bonds, dated the first day of April, 1950, and the
City's General Obligation Water Extension Bonds, dated the first day of June, 195!}, she.
be paid from said net revenues on a parity with said bonds; that as security for the
payment of the bonds there is irrevocably and exclusively pledged a special fund desig-
hatedlas1the
C965, ity
of Fort Collins, Bond Coloradoirement General Obligation Water Bonds, Series
Junund, It into which the City has convenanted
to pay from said net revenues sums sufficient to pay when due the principal of and the
interest on said bonds (except to the extent the proceeds o£ general taxes are availabh
therefor); and that interest on said bonds is exempt from taxation by the United State;
of America under present federal income tax laws."
DATED at Fort Collins, Colorado, this llth day of March, 1965.
G
EAL) City of Fort Collins, ''olorado
ttest;
s/ Miles F. House
y
(End of Form of Official Notice of Bond Sale)
Section 5. That the Mayor, City Manager, and the City's fiscal agent ben and they
sreby are, authorkzed and directed to give such other notice of said bond sale as they shalt
etermige, if they so determie, including, but not limited to, the publication of the notice
uthorized gy 'section 2 hereof or an excerpt thereof in any financial newspapers and periodi-
als, and the distribution among investment bankers and others of a bond brochure or pros-
ectus relating to saidbbonds.
IQ
Section 6. That bids for said bonds shall be opened at the time, place and
manner provided in the Official Notice of Bond Sale as herein prescribed.
Section %. That the officers of the City be, and they hereby are, authorized
and. directed to take all action necessary or appropriate to effectuate the provisions of
this resolution.
Section 8. That all orders, by-laws and resolutions, or parts thereof, in con-
flict with this resolution, are hereby repealed.
Section 9. That if any one or more sections, sentences, clauses or parts of this
resolution shal for any reason be questioned or held invalid, such judgment shall not affec
impair or invalidate the remaining provisions hereof, but shall be confined in its operatic
to the specific sections, sentences, clauses or parts of this resolution so held invalid.
Section 10. That this resolution shall be in full force and effect after passage
and approval.
PASSED AND APPROVED this llth day of March,1965.
sl Harvey G. Johnson
yor
(SEAL)
Attest;
iles F
It was thereupon moved by Councilwoman Quinn, and seconded by Councilman McMilla
that any rule of the City Council which would prevent the passage of said resolution at
this meeting be suspended, and said resolution be placed upon its final passage. The roll
was called upon said motion with the following results: Ayes: Councilmen Johnson, Colwell
McMillan, Guyer and Councilwoman Quinn. Nayes: None. The President declared the motion
adopted.
The presiding officer declared the motion carried and the rules suspended, and
said resolution placed upon its final passage.
Councilman Colwell, then moved that said resolution be passed as read. Council-
woman Quinn seconded the motion. The motion being upon the final passage of the resolution
the roll was called with the following results:: Ayes: Councilmen Johnson, Colwell,
McMillan, Guyer and Councilwoman Quinn. Nayes: None. The presiding officer thereupon
declared that, at least a majority of the members present having voted in favor of said
resolution, the said motion was carried and the resolution duly passed.
The following petition was presented and read at length:
CITY COUNCliL , CITY OF FORT COLLINS
MUNICIPAL BUILDING
FORT COLLINS, COLORADO
ntlemen:
The undersigned, being the owner of the property known as Blocks 22 and 25, River-
side Park, a Subdivision in the City of Fort Collins, Colorado, hereby petition the Council
of the City of Fort Collins to vacate the alleys running North and South through Blocks 22
and 25; that portion of 6th Avenue between Blocks 22 and 25; that portion of 5th Avenue
adjoining Blbck 22 on the East; and that portion of Lath Avenue adjoining Blocks 22 and 25 on
the South. All of the above Avenues and alleys being shown on the Plat of Riverside Park;
and said petitioners state as reasons for said vacation requests that the above described
Avenues and alleys have never been open to the public and are not needed for Municipal purpo
and are not needed to develop the area.
Respectfully submitted,
Joe M. Padia
Motion was made by Councilman McMillan, seconded by Councilwoman Quinn, that this
etition be referred to the City Manager for investigation and action thereof. Roll was
alled resulting as follows: Ayes: Councilmen Johnson, Colwell, McMillan, Guyer and
ouncilwoman Quinn. Nayes: None. The President declared the motion adopted.
Motion was made by Councilwoman Quinn, seconded by Councilman Guyer, that the
ouncil adjourn. Roll was called resulting as follows: Ayes: Councilmen Johnson, Colwell,
illan, Guyer and Councilwoman Quinn. Nayes: None
and the Council adjourned.
The President declared the motion