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HomeMy WebLinkAbout140 - 11/19/1985 - ISSUANCE OF GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. 87 SPECIAL ASSESSMENT BOND DATED DECEMBER 15 0137S 10/29/85 CERTIFIED RECORD OF PROCEEDINGS OF THE COUNCIL OF THE CITY OF FORT COLLINS, COLORADO RELATING TO AN ORDINANCE AUTHORIZING THE ISSUANCE OF ITS GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. 87 SPECIAL ASSESSMENT BOND DATED DECEMBER 15 , 1985 IN THE PRINCIPAL AMOUNT OF $1 , 640 , 000 STATE OF COLORADO ) COUNTY OF LARIMER ) ss . CITY OF FORT COLLINS ) The Council of the City of Fort Collins , Colorado, held a regular meeting at Council Chambers , City Hall , 300 LaPorte Avenue, Fort Collins , Colorado , on Tuesday, the 5th day of November , 1985 , at the hour of 6 : 30 p.m. The following persons were present : Council Members : Barbara S . Rutstein, Mayor Kelly Ohlson, Assistant Mayor E. John Clarke Larry Estrada Gerald C. Horak John B. Knezovich Ed Stoner Interim City Manager : Richard H. Shannon Finance Director : James H. Harmon City Clerk: Wanda M. Krajicek City Attorney: John H. Huisjen The following persons were absent : None Council Member Horak introduced the following Ordinance, which was read by title, copies of the full Ordinance having been available in the office of the City Clerk at least forty-eight (48) hours prior to the time said Ordinance was introduced for each Council Member and for inspection and copying by the general public : -1- ORDINANCE NO .140 , 1985 AN ORDINANCE AUTHORIZING THE ISSUANCE OF A CITY OF FORT COLLINS, COLORADO, GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. 87 , SPECIAL ASSESSMENT BOND, DATED DECEMBER 15 , 1985 , IN THE PRINCIPAL AMOUNT OF $1 , 640 , 000 ; PRESCRIBING THE FORM OF THE BOND; AND PROVIDING FOR THE PAYMENT OF THE BOND AND THE INTEREST THEREON. WHEREAS, the Council (the "Council" ) of the City of Fort Collins , Colorado (the "City" ) , has , pursuant to Ordinance No . 139 , 1985 , which was introduced, considered favorably on first reading and ordered published by the Council on November 5 , 1985, and passed and adopted on final reading by the Council on November 19 , 1985 (the "Formation Ordinance" ) , created Greenbriar Special Improvement District No . 87 (the "District" ) and authorized the acquisition, construction and installation of street , curb and gutter , sidewalk, street lighting, water line, sanitary sewer line, storm drainage and landscaping improvements (the "Improvements" ) therein, all in accordance with the Charter of the City (the "Charter" ) and Chapter 16 of the Code of the City (the "Code" ) ; and WHEREAS, the Improvements will be acquired, constructed and installed as set forth in the Formation Ordinance and Resolution 85- 211 including Exhibit "A" thereto, adopted by the City Council on November 5 , 1985 , the Formation Ordinance and Resolution 85- 212 being hereby incorporated herein by reference; and WHEREAS, the acquisition, construction and installation of the Improvements in the District will confer general benefits on the City and special benefits on the assessable property within the District; and WHEREAS , the Council has determined that the portion of the cost of the acquisition, construction, installation and financing of the Improvements and described in detail in Exhibit "A" to Resolution 85- 212 to be assessed against the property within the District will not exceed $1 , 640 , 000 plus costs associated with the collection of assessments , with interest accruing on assessments paid in installments , and that a special assessment bond of the City for the District should be issued in the amount of $1 , 640 , 000 ; and WHEREAS, a proposal for the purchase of said bond on terms favorable to the City has been received from First Interstate Bank of Fort Collins , N.A. Denver , Colorado (the "Purchaser" ) , which the Council has determined, and does hereby determine, to accept; and -2- WHEREAS , it is necessary to authorize the issuance of said bond and to provide for the repayment thereof . BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS , COLORADO, AS FOLLOWS : 1 . In order to defray the cost of acquiring, constructing and installing the Improvements within the District , together with all necessary and incidental costs and expenses permitted by the Charter and the Code, the City shall issue its fully registered Greenbriar Special Improvement District No . 87 , Special Assessment Bond, dated December 15 , 1985 , in the principal amount of $1 , 640 , 000 (the "Bond" ) . The principal balance of the Bond (the "Principal Balance" ) at any time and from time to time shall be the stated $1 , 640 , 000 principal amount thereof less the aggregate amount of installments paid thereon by the City representing redemptions or prepayments of principal ( "Principal Installments" ) in accordance with the terms hereof and the stated terms of the Bond. Principal Installments shall be in the amount of $5 , 000 or any integral multiple thereof . The Bond shall mature on December 1 , 2000 , and shall bear interest as herein set forth. 2 . The Principal Balance of the Bond from time to time shall bear interest at the rate of eight percent ( 8 % ) per annum. Interest on the Principal Balance of the Bond shall be payable June 1 , 1986 , and semiannually thereafter on the 1st day of June and the 1st day of December of each year . If upon presentation at maturity the remaining Principal Balance of the Bond is not paid as provided herein, interest shall continue thereon at the same interest rate until the Principal Balance is paid in full . 3 . The maximum net effective interest rate for the Bond is 15% . The actual net effective interest rate on the Bond is 8 % . 4 . The principal of and interest on the Bond shall be payable in lawful money of the United States of America to the registered owner of the Bond by the Finance Director of the City, who is hereby designated the paying agent for the Bond . The Principal Balance of the Bond remaining at the Bond' s maturity and the final interest payment due on the Bond shall be paid to the registered owner of the Bond upon presentation and surrender of the Bond at maturity. Except as heretofore and hereinafter provided, the interest and any Principal Installment other than the final Principal Installment paid at maturity shall be paid to the registered owner of the Bond determined as of the close of business on the regular record date, which, in the case of an interest payment , shall be the fifteenth ( 15th) day of the calendar month next preceding the interest payment date, and, in the case of the payment of a Principal Installment , shall be the fifteenth ( 15th) day next preceding the date of payment of such Principal Installment , irrespective -3- of any transfer of ownership of the Bond subsequent to the regular record date and prior to such interest payment date as Principal Installment date as the case may be, by check or draft mailed to such registered owner at the address appearing on the registration books of the City maintained by the City Clerk as registrar . Any interest not paid when due and any interest accruing after maturity shall be paid to the registered owner of the Bond determined as of the close of business on the special record date, which shall be fixed by the City for such purpose, irrespective of any transfer of ownership of the Bond subsequent to such special record date and prior to the date fixed by the City for the payment of such interest , by check or draft mailed as aforesaid. Notice of the special record date and of the date fixed for the payment of such interest shall be given by sending a copy thereof by first-class , postage prepaid mail , at least ten ( 10) days prior to the special record date, to the registered owner of the Bond upon which interest will be paid determined as of the close of business on the day preceding such mailing at the address appearing on the registration books of the City. If the registrar or paying agent initially appointed hereunder shall resign, or if the City shall reasonably determine that said registrar or paying agent has become incapable of fulfilling his or her duties hereunder , the City may, upon notice mailed to the registered owner of the Bond at the address last shown on the registration books , appoint a successor registrar or paying agent , or both . Every such successor registrar or paying agent shall be a bank or trust company located in and in good standing in the State of Colorado and having a capital and surplus of not less than $5 , 000 , 000 . It shall not be required that the same institution serve as both bond registrar and paying agent hereunder , but the City shall have the right to have the same institution serve as both registrar and paying agent hereunder . 5 . The Principal Balance of the Bond shall be subject to redemption or prepayment of principal prior to maturity at the option of the City in Principal Installments of $5 , 000 or any integral multiple thereof at any time at a price equal to the principal portion of the Bond to be so redeemed or prepaid plus accrued interest on the outstanding Principal Balance of the Bond on such redemption or prepayment date, with no premium, as follows : within thirteen months of receipt of moneys initially deposited in the Greenbriar Special Improvement District No . 87 , Special Assessment Bond, Bond and Interest Fund (the "Bond Fund" ) hereinafter described (other than from bond proceeds ) , it shall be the duty of the Finance Director to redeem or prepay a suitable amount of the Principal Balance of the Bond, in Principal Installments , provided that the Bond Fund (except for amounts initially deposited therein from bond proceeds) shall be depleted at least once a year except for a reasonable carryover -4- amount not to exceed the greater of one year ' s earnings on the Bond Fund or one-twelfth of annual debt service on the Bond , Notice of any proposed redemption or prepayment of any portion of the Principal Balance of the Bond shall be given by the Finance Director by mailing a copy thereof by first-class , postage prepaid mail , at least forty-five ( 45 ) days and not more than sixty ( 60 ) days prior to the designated redemption or prepayment date to the registered owner of the Bond at its address as the same shall last appear on the registration books of the City. Said notice shall specify the amount of the Principal Balance of the Bond to be so prepaid or redeemed, i . e . the amount of the related Principal Installment . If any amount of the Principal Balance of the Bond shall have been duly called for redemption or prepayment , then such amounts (the Principal Installment amount) shall become due and payable upon such redemption or prepayment date, and from and after such date interest shall cease to accrue thereon. For the purposes of this section, each Principal Installment paid to reduce the Principal Balance of the Bond is comparable to the payment of "a suitable number of district bonds" as described in Section 16-29 of the Code in the case in which a series of special assessment bonds in $5 , 000 denominations are issued by the City to finance the cost of any improvements in a City special improvement district . 6 . The Bond shall be executed in the name and on behalf of the City with the manual signature of the Mayor of the City, shall bear the seal of the City, shall be attested by the manual signature of the City Clerk of the City, and shall be countersigned with the manual signature of the Finance Director of the City. Should any officer whose signature appears on the Bond cease to be such officer before delivery of the Bond to the Purchaser , such signature shall nevertheless be valid and sufficient for all purposes . 7 . Upon its execution and prior to its delivery the Bond shall be registered for the purpose of payment of principal and interest in the office of the City Clerk as registrar . Thereafter , the Bond shall be transferable only upon the registration books of the City at the office of the City Clerk by the registered owner thereof or by his or its duly authorized attorney-in-fact or legal representative. The City Clerk shall accept a Bond for registration or transfer only if the registered .owner is to be an individual , a corporation, a partnership, or a trust . The Bond may be transferred upon surrender of the Bond together with a written instrument of transfer duly executed by the registered owner or its duly authorized attorney-in-fact or legal representative with guaranty of signature satisfactory to the City Clerk, containing written instructions as to the details of the transfer of the Bond, along with the social security number or federal employer identification number of such transferee and, if such transferee is a trust , the names and social security numbers of the settlor -5- and the beneficiaries of the trust . Transfers shall be made without charge, except that the City Clerk may require payment of a sum sufficient to defray any tax or other governmental charge that may hereafter be imposed in connection with any transfer of bonds . No registration of the Bond shall be effective until entered on the registration books . Concurrently with the entry of the required information on the registration books the City Clerk shall enter the required information on the registration panel pertaining to the Bond. The City Clerk shall not be required to transfer ownership of the Bond during the fifteen ( 15) days next preceding any interest payment date nor to transfer any bond after mailing any notice of redemption or prepayment as herein provided nor during the fifteen ( 15) days next preceding such mailing of any notice of redemption or prepayment . The City may deem and treat the person in whose name the Bond is last registered upon the books of the City as the absolute owner thereof for the purpose of receiving payment of the principal of and interest on the Bond and for all other purposes , and all such payments so made to such person or upon his order shall be valid and effective to satisfy and discharge the liability of the City upon such Bond to the extent of the sum or sums so paid, and the City shall not be affected by any notice to the contrary. 8 . If the Bond shall have been lost , destroyed or wrongfully taken, the City shall provide for the replacement thereof in the manner set forth and upon receipt of the evidence, indemnity bond and reimbursement for expenses provided in Ordinance No . 80 , 1984 , adopted by the Council on July 17 , 1984 . 9 . The Bond and the registration panel and schedule of Principal Installments pertaining thereto shall be in substantially the following form: -6- [Form of Bond] UNITED STATES OF AMERICA STATE OF COLORADO COUNTY OF LARIMER CITY OF FORT COLLINS GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. 87 SPECIAL ASSESSMENT BOND No . R-1 $1 , 640 , 000 The City of Fort Collins , in the County of Larimer and State of Colorado, for value received, hereby promises to pay to the registered owner hereof whose name, address , and identification number appear on the registration panel attached hereto, solely out of the special funds hereinafter described, but not otherwise, the principal sum of ONE MILLION SIX HUNDRED AND FORTY THOUSAND DOLLARS or so much thereof as remains unpaid from time to time (the "Principal Balance" ) in lawful money of the United States of America, on the 1st day of December , 2000 , and likewise to pay interest on the Principal Balance hereof from the date hereof to the maturity date hereof , at the rate of and hundredths per cent (_. o) per annum, payable June 1 , 1986 , and semiannually thereafter on the 1st day of June and the 1st day of December of each year . If upon presentation at maturity the remaining Principal Balance of this Bond is not paid as provided herein, interest shall continue on the Principal Balance at the same interest rate until the Principal Balance hereof is paid in full . The principal of and interest on this Bond are payable to the registered owner hereof by the Finance Director of the City or a successor paying agent . The Principal Balance of the Bond remaining at the Bond' s maturity and the final interest payment due on this Bond shall be paid to the registered owner hereof upon presentation and surrender of this Bond at maturity. Except as heretofore and hereinafter provided, the interest and any installment paid hereon by the City representing redemptions or prepayment of principal on this Bond ( "Principal Installments" ) other than the final Principal Installment ' paid at maturity shall be paid to the registered owner hereof determined as of the close of business on the regular record date, which, in the case of an interest payment , shall be the fifteenth ( 15th) day of the calendar month next preceding the interest payment date, and, in the case of the payment of a Principal Installment shall be the fifteenth ( 15th) day next preceding the date of payment of such Principal Installment irrespective of any transfer of ownership hereof subsequent to the regular record date and prior to such interest -7- payment date or Principal Installment as the case may be, by check or draft mailed to such registered owner at the address appearing on the registration books of the City maintained by the City Clerk as registrar or by a successor registrar . Any interest hereon not paid when due and any. interest hereon accruing after maturity shall be paid to the registered owner of this Bond determined as of the close of business on the special record date, which shall be fixed by the City for such purpose , irrespective of any transfer of ownership of the Bond subsequent to such special record date and prior to the date fixed by the City for the payment of such interest , by check or draft mailed as aforesaid. Notice of the special record date and of the date fixed for the payment of such interest shall be given by sending a copy thereof by first-class , postage prepaid mail , at least ten ( 10) days prior to the special record date, to the registered owner of this Bond determined as of the close of business on the day preceding such mailing at the address appearing on the registration books of the City. The Principal Balance of this Bond is subject to redemption or prepayment prior to maturity at the option of the City in Principal Installments of $5, 000 or any integral multiple thereof at any time at a price equal to the principal portion of this Bond to be so redeemed or prepaid plus accrued interest on the outstanding Principal Balance of this Bond on such redemption or prepayment date, with no premium, as follows : within thirteen months of receipt of moneys initially deposited in the Greenbriar Special Improvement District No . 87 , Special Assessment Bond, Bond and Interest Fund hereinafter described (other than from bond proceeds) , it shall be the duty of the Finance Director of the City or his successor to redeem or prepay a suitable amount of the Principal Balance of this Bond, in Principal Installments , provided that the Bond and Interest Fund (except for amounts initially deposited therein from bond proceeds) shall be depleted at least once a year except for a reasonable carryover amount as set forth in the Ordinance authorizing the issuance of this Bond. Notice of any proposed redemption or prepayment of any portion of the Principal Balance of this Bond shall be given by the Finance Director by mailing a copy thereof by first-class , postage prepaid mail , at least forty-five (45) days and not more than sixty ( 60 ) days prior to the designated redemption or prepayment date , to the registered owner of this Bond at its address as the same shall last appear on the regiptration books of the City. If any amount of the Principal Balance of this Bond shall have been duly called for redemption or prepayment , such amount shall become due and payable upon such redemption or prepayment date, and from and after such date interest shall cease to accrue thereon. This Bond is issued for the purpose of defraying the costs of acquiring, constructing, installing and financing street , curb and gutter , sidewalk, street lighting, water line , sanitary sewer line, storm drainage and landscaping improvements in and -8- for Greenbriar Special Improvement District No . 87 by virtue of and in full conformity with the Constitution of the State of Colorado , the home rule Charter of the City, and Chapter 16 of the Code of the City and pursuant to and under the authority of an Ordinance duly adopted by the Council of the City prior to the issuance of this Bond. This Bond is not , and shall not be considered or taken to be, a general obligation or indebtedness of the City within the meaning of any requirement of or limitation imposed by law. This Bond and the interest hereon are payable solely from, and as security for such payment there is exclusively pledged, a special fund designated as the Greenbriar Special Improvement District No . 87, Special Assessment Bond, Bond and Interest Fund, into which there shall initially be deposited accrued interest and capitalized interest on the Bond and any proceeds of the Bond remaining in the Capital Projects Fund of the City after the cost of the aforesaid improvements has been paid in full and into which there shall thereafter be deposited moneys collected on account of assessments hereafter to be levied against the property within Greenbriar Special Improvement District No . 87 and specially benefited by the acquisition, construction and installation of the improvements therein. This Bond, together with bonds of other special or local improvement districts of the City, are additionally secured by moneys deposited in the special Surplus and Deficiency Fund of the City. Whenever there is a deficiency in the Bond and Interest Fund for the payment of the principal of or interest on this Bond, the deficiency is to be paid by transferring moneys from the special Surplus and Deficiency Fund to the Bond and Interest Fund . The Ordinance authorizing the issuance of this Bond provides that whenever three-fourths (3/4 ) of the Principal Balance of this Bond has been paid and for any reason the remaining assessments are not paid in time to redeem or prepay the remaining Principal Balance of this Bond and to pay the interest thereon, and there are not sufficient funds in the special Surplus and Deficiency Fund to do so, then the City shall pay the remaining Principal Balance of this Bond when due and the interest thereon, levy additional ad valorem taxes therefor , and reimburse itself by collecting the unpaid assessments due. The City covenants with the registered owner of this Bond that it will levy and collect the assessments against the property specially benefited and deposit the same into the Bond and Interest Fund and that it will diligently enforce the lien of any unpaid assessment against the property charged therewith. The City further covenants with the registered owner of this Bond that it will keep and perform all of the covenants of this Bond and of the Ordinance authorizing the issuance hereof . Reference is hereby made to said Ordinance for a -9- description of the provisions , terms, and conditions upon which this Bond is issued and secured, including, without limitation, the nature and extent of the security for this Bond, the collection and disposition of the special assessments and moneys charged with and pledged to the payment of this Bond, the special funds referred to above, and the nature and extent of the security and pledge afforded thereby for the payment of this Bond, the rights , duties and obligations of the City and its Council , and the rights and remedies of the registered owner of this Bond. It is hereby recited, certified and warranted that this Bond does not exceed any limitation imposed by law; that every requirement of law relating to the creation of said District , the acquisition, construction and installation of the aforesaid improvements , the preparation for levying of the aforesaid assessments , and the issuance of this Bond has been fully complied with by the proper officers of the City; that all acts , conditions and things required by law to be done precedent to and in the issuance of this Bond have been properly done; and that this Bond does not contravene any constitutional or statutory provision of the State of Colorado or provision of the City Charter or ordinances . For the payment of this Bond and the interest hereon, the City pledges the exercise of all of its lawful corporate powers . This Bond is transferable only upon the registration books of the City at the office of the City Clerk or a successor registrar by the registered owner hereof or by his or its duly authorized attorney-in-fact or legal representative, upon surrender hereof together with a written instrument of transfer duly executed by the registered owner or his or its duly authorized attorney-in-fact or legal representative with guaranty of signature satisfactory to the City Clerk, containing written instructions as to the details of the transfer , along with the social security number or federal employer identification number of the transferee and, if the transferee is a trust , the names and social security numbers of the settlor and beneficiaries of the trust . Transfers shall be made without charge, except that the City Clerk may require payment of a sum sufficient to defray any tax or other governmental charge that may hereafter be imposed in connection with any transfer of bonds . Upon such transfer the City Clerk will enter the date of registration and the name, address , and social security number or federal employer identification number of the new registered owner of this Bond on the registration panel attached hereto . The City Clerk shall not be required to transfer ownership of this Bond during the fifteen ( 15) days next preceding any interest payment date nor to transfer this Bond after mailing any notice of redemption or prepayment as herein provided nor during the fifteen ( 15) days next preceding such mailing of any notice of redemption or prepayment The City may deem and treat -10- the person in whose name this Bond is last registered upon the books of the City as the absolute owner hereof for the purpose of receiving payment of the principal of and interest on this Bond and for all other purposes , and all such payments so made to such person or upon his order shall be valid and effective to satisfy and discharge the liability of the City upon this Bond to the extent of the sum or sums so paid, and the City shall not be affected by any notice to the contrary. This Bond has been issued and delivered without registration under the Securities Act of 1933 , as amended, or other state, Federal or other securities laws , and without distribution of a prospectus or other comprehensive offering document , in reliance upon the availability of an appropriate exemption from registration otherwise required and representations of the initial registered owner of this Bond that this Bond is being acquired solely for investment and not with a view to distribution or resale . This Bond shall not be sold, pledged, hypothecated, donated or otherwise transferred, including the sale of a participation interest herein, whether or not for consideration, by the initial registered owner or any other registered owner except as permitted by law and subject to all applicable regulations of the Securities Act of 1933 , as amended. IN TESTIMONY WHEREOF, the City of Fort Collins , Colorado , has caused this Bond to be executed in the name and on behalf of the City with the manual signature of the Mayor of the City, to be sealed with the seal of the City, to be attested by the manual signature of the City Clerk of the City, and to be countersigned with the manual signature of the Finance Director of the City, all as of the 15th day of December , 1985 . CITY OF FORT COLLINS , COLORADO (CITY) By: (Manual Signature) (SEAL) Mayor Attest : (Manual Signature) City Clerk Countersigned : (Manual Signature) Finance Director -11- (Registration Panel ) This Bond is registered in the office of the City Clerk of the City of Fort Collins , Colorado , as registrar , or its successor registrar , in the name of the owner listed below, and the principal of and interest on this Bond shall be payable only to such owner . Name, Address , and Date of Identification Number of Signature of Registration Registered Owner City Clerk First Interstate Bank of Fort Collins , N.N. P. 0. Box 578 Fort Collins , Colorado 80522 December 1985 84-020-5012 -12- SCHEDULE OF PRINCIPAL INSTALLMENTS Upon the payment of any Principal Installment the within Bond shall be marked with the appropriate endorsement on the table below. Any Principal Installment made by the City on the Bond shall , whether or not endorsed below, fully discharge the City' s obligations under the Bond to the extent of the payment of such Principal Installments . Any prospective purchaser of this Bond should verify with the Finance Director of the City the Principal Balance of this Bond prior to the purchase thereof . Signatures of Date of Authorized Payment of Amount of Remaining Representative Principal Principal Principal of Registered Installment Installment _ Balance Owner [End of Form of Bond] -13- (Assignment- Form to be Used for Transfers) ASSIGNMENT FOR VALUE RECEIVED , the undersigned sells , assigns and transfers unto PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE (Name and Address of Assignee) the attached Bond and does hereby irrevocably constitute and appoint , or its successor , as registrar and transfer agent , to transfer said Bond on the books kept for registration thereof . Dated: Signature guaranteed: (Bank, Trust Company or Firm) NOTICE: The signature to this assignment must correspond with the name of the Registered Owner as it appears upon the registration panel of the attached Bond in every particular without alteration or enlargement or any change whatever . -14- 10 . The proceeds of the Bond, excluding accrued interest and capitalized interest, shall be deposited into the Capital Projects Fund of the City (the "Capital Projects Fund" ) , and thereafter said proceeds shall be used only to pay or reimburse the City for the costs and expenses of acquiring, constructing and installing the Improvements . There is hereby appropriated the sum of $1 ,460 , 000 from the Bond proceeds and anticipated investment earnings thereon in the Capital Projects Fund for the construction of the Improvements and associated costs . In the event that less than all of the proceeds of the Bond are expended to pay such costs and expenses , any remaining sums shall be transferred upon completion of the Improvements to the Bond Fund and used for the purpose of redeeming or prepaying portions of the Principal Balance of the Bond, in Principal Installments , and paying interest on the Bond. Accrued interest and capitalized interest shall be deposited into the Bond Fungi and applied for the payment of interest first due on the Bond . 11 . The Bond and the interest thereon shall be payable solely from, and there is hereby created, the Bond Fund, into which there shall initially be deposited accrued interest and capitalized interest on the Bond and any proceeds of the Bond remaining in the Capital Projects Fund after the cost of the Improvements has been paid in full and into which there shall thereafter be deposited all moneys collected on account of assessments to be levied against the property within the District and specially benefited by the acquisition, construction and installation of the Improvements therein. The moneys in the Bond Fund shall be used for the purpose of paying the Principal Balance of and interest on the Bond and for no other purpose whatsoever until the Bond, both principal and interest , has been fully paid and discharged, and as security for such payment the Bond Fund is hereby exclusively pledged. 12 . The Bond, together with bonds of other special or local improvement districts of the City, shall be additionally secured by moneys deposited in the special Surplus and Deficiency Fund of the City (the "Surplus and Deficiency Fund" ) . Whenever there is a deficiency in the Bond Fund for the payment of principal or interest on the Bond, the deficiency shall be paid by transferring moneys from the Surplus and Deficiency Fund to the Bond Fund . Whenever three-fourths (3/4) of the Principal Balance of the Bond has been paid and for any reason the remaining assessments are not paid in time to redeem or prepay the remaining Principal Balance of the Bond and to pay the interest thereon, and there are not sufficient funds in the Surplus and Deficiency Fund to do so, then the City shall pay the remaining Principal Balance of the Bond when due and the interest thereon, levy additional ad valorem taxes therefor , and reimburse itself by collecting the unpaid assessments due. 13 . The Bond, when executed and registered as provided herein and in the Code, shall be delivered by any one of the -15- officers of the City to the Purchaser upon payment to the City of the purchase price therefor . The proceeds derived from the sale of the Bond shall be used exclusively for the purposes stated herein; provided, however that any portion of such proceeds may be temporarily invested pending such use in securities or obligations which are lawful investments for the City with such temporary investments to be made consistent with the covenant hereinafter made concerning arbitrage bonds . The Purchaser shall not be in any way responsible for the application of the proceeds of the Bonds by the City or any of its officers . 14 . The City covenants that it will make no investment or other use of the proceeds of the Bond at any time during the term thereof which, if such investment or other use had been reasonably expected on the date the Bond is issued, would have caused the Bond to be an arbitrage bond within the meaning of Section 103(c) of the Internal Revenue Code of 1954 , as amended, and the regulations promulgated thereunder , unless , under any provision of law hereafter enacted, the interest paid on the Bond shall be excludible from the gross income of a recipient thereof for federal income tax purposes without regard to whether or not the Bond is an arbitrage bond or shall be exempt from all federal income taxation . 15 . The Council shall cause the assessments to be levied and collected as provided by law for the benefit of the registered owner of the Bond. All assessments made, together with all interest thereon and penalties for default in payment thereof , shall be a lien in the several amounts assessed against each property from the date of the publication of the assessing ordinance and shall be a first and prior lien over all other liens excepting general tax liens . The Council will further cause the lien of any unpaid assessment to be diligently enforced against the property charged therewith. 16 . So long as any portion of the Bond remains outstanding, the City will keep or cause to be kept by Larimer County, Colorado (the "County" ) , true and accurate books of records and accounts showing full and true entries covering the collection and disposition of the assessments and any delinquencies in the collection thereof , covering deposits and disbursements in each of the special funds herein described, covering the payment of the Bond, both principal and interest , and covering disbursements to defray the costs and expenses of the Improvements . The City will permit inspection and examination of all such books and notices maintained or received by the City at any reasonable time by the Purchaser or the registered owner of the Bond . 17 . The registered owner of the Bond shall have the right and power : -16- a. By mandamus or other suit , action, or proceeding at law or in equity to enforce his rights against the City and to require and compel the City to perform and carry out its duties , obligations , or other commitments under this Ordinance and under its covenants and agreements with the registered owner of the Bond; b. By action or by suit in equity to require the City to account as if it were the trustee of an express trust ; C . By action or by suit in equity to have appointed a receiver, which receiver may take possession of any accounts and may collect, receive, and apply all revenues or other moneys pledged for the payment of the Bond in the same manner as the City itself might do; d. By action or by suit in equity to enjoin any acts or things which might be unlawful or might be in violation of the rights of the registered owner of the Bond; and e. To bring suit upon the Bond. No right or remedy conferred by this Ordinance upon the registered owner of the Bond or any trustee therefor is intended to be exclusive of any other right or remedy, but each such right or remedy is cumulative and is in addition to every other right or remedy and may be exercised without exhausting and without regard to any other remedy conferred by this Ordinance or by any other law. The failure of the registered owner of the Bond so to proceed as provided herein shall not relieve the City of any obligation to perform or to carry out any duty, obligation, or other commitment . 18 . This Ordinance is , and shall constitute, a legislative measure of the City, and after the Bond is issued, sold, and outstanding, this Ordinance shall constitute a contract between the City and the registered owner of the Bond, and shall be and remain irrepealable until the Bond and the interest thereon shall have been fully paid, satisfied and discharged. 19 . The officers of the City are hereby authorized and directed to enter into such agreements and take all action necessary or appropriate to effectuate the provisions of this Ordinance and to comply with the requirements of law, including without limiting the generality of the foregoing : a. The preparation of the Bond, and the delivery of the legal opinion of Ballard, Spahr , Andrews & Ingersoll , bond counsel with respect to the Bond, duly certified by the City Clerk; and -17- b . The execution of such certificates as may be required by the Purchaser relating to the signing of the Bond, the tenure and identity of the City officials , if in accordance with the facts , the absence of litigation, pending or threatened, affecting the validity of the Bond, the exemption of the interest on the Bond from federal income taxation, and receipt of the Bond purchase price and of the Bond, using a Signature Certificate, a General and No-Litigation Certificate, a Certificate as to Amount and Use of Bond Proceeds , and a Delivery Certificate for these purposes; and C . The making of various statements , recitals , certificates and warranties provided in the form of Bond set forth in this Ordinance; and d. The payment of the interest on the Bond as the same shall become due and the Principal Balance of the Bond at maturity or upon prior redemption or prepayment without further warrant or order . 20 . All action heretofore taken by the City and by the officers thereof not inconsistent herewith directed toward the creation of the District , the construction and installation of the Improvements therein, and the authorization and sale of the Bond is hereby ratified, approved and confirmed . 21 . All resolutions , ordinances , or parts thereof, taken by the City and in conflict with this Ordinance are hereby repealed, except that this repealer shall not be construed so as to revive any resolution, ordinance, or part thereof , heretofore repealed. 22 . If any paragraph, clause or provision of this Ordinance is judicially adjudged invalid or unenforceable, such judgment shall not affect , impair or invalidate the remaining paragraphs , clauses or provisions hereof , the intention being that the various paragraphs , clauses or provisions hereof are severable . INTRODUCED, READ, APPROVED ON FIRST READING, AND ORDERED PUBLISHED BY NUMBER AND TITLE ONLY this 5th day of November , 1985 . CITY OF FORT COLLINS , COLORADO (CITY) By: (SEAL) Mayor Attest : R City Clerk -18- The foregoing ordinance will be presented for final passage at a regular meeting of the Council , to be held at Council Chambers , City Hall , 300 LaPorte Avenue, Fort Collins , Colorado , on Tuesday, the 19th day of November , 1985 , at 6 : 30 p.m. -19- READ, FINALLY PASSED ON SECOND READING, AND ORDERED PUBLISHED ONCE BY NUMBER AND TITLE ONLY this 19th day of November , 1985 . CITY OF FORT COLLINS , COLORADO ' . By, (CITY) a�i yore (SEAL) Attest : 14ML�6 . .. A City Clerk -20- Council Member Horak moved that the foregoing Ordinance heretofore introduced and read by title be approved on first reading. Council Member Ohlson seconded the motion. The question being upon the approval on first reading of the Ordinance, the roll was called with the following results : Council Members voting "AYE" : Barbara S . Rutstein Kelly Ohlson E. John Clarke Larry Estrada Gerald C. Horak John B . Knezovich Ed Stoner Council Members voting "NAY" : None The Mayor thereupon declared that , a majority of the Council Members present having voted in favor thereof , the motion was carried and the Ordinance duly approved on first reading. Thereupon the Mayor ordered said Ordinance published by number and title only together with a statement that the text thereof is available for public inspection and acquisition in the office of the City Clerk and a notice giving the date when the Ordinance will be presented for final passage in The Coloradoan, a newspaper of general circulation published in the City, at least seven ( 7) days before presentation for final passage. After consideration of other business to come before the Council , the meeting was adjourned. ayor (CITY) City of Fort Collins , Colorado (SEAL) Attest : City Clerk City of Fort Collins , Colorado -21- STATE OF COLORADO ) COUNTY OF LARIMER ) ss . CITY OF FORT COLLINS ) The Council of the City of Fort Collins , Colorado, held a regular meeting at Council Chambers , City Hall , 300 LaPorte Avenue, Fort Collins , Colorado , on Tuesday, the 19th day of November , 1985 , at the hour of 6 : 30 p.m. The following persons were present : Council Members : Barbara S . Rutstein, Mayor Kelly Ohlson, Assistant Mayor E . John Clarke Larry Estrada Gerald C. Horak John B . Knezovich Ed Stoner Interim City Manager : Richard H. Shannon Finance Director : James H . Harmon City Clerk : Wanda M. Krajicek City Attorney: John H. Huisjen The following persons were absent : None The Mayor informed the Council that Ordinance No . 140 1985 , which was introduced, approved on first reading, and ordered published by number and title only at the regular meeting of the Council held on November 5 , 1985 , was duly published in The Coloradoan, a newspaper of general circulation published in the City, in its issue of November 10 , 1985 . Council Member Clarke then read said Ordinance by its title . Thereupon, Council Member Clarke moved the final passage of Ordinance No . 140 1985 . Council Member Estrada seconded the motion, and the question being upon the final passage of said Ordinance, the roll was called with the following result : -22- Council Members voting "AYE" : Barbara S , Rutstein Kelly Ohlson E . John Clarke Gerald C . Horak Larry Estrada John B . Knezovich Ed Stoner Council Members voting "NAY" : ',Ione The Mayor thereupon declared that a majority of the Council Members present having voted in favor thereof , the motion was carried and the Ordinance finally passed . Thereupon the Mayor ordered the Ordinance published by number and title only together with a notice of the final passage of the Ordinance in The Coloradoan, a newspaper of general circulation published in the City, within seven ( 7 ) days after final passage . After consideration of other business to come before the Council the meeting was adjourned . yor (CITY) City of Fort Collins , Colorado (SEAL) Attest : 2 City Clerk City of For Collins , Colorado -23- STATE OF COLORADO ) COUNTY OF LARIMER ) ss . CITY OF FORT COLLINS ) I , Wanda M. Krajicek, City Clerk of the City of Fort Collins , Colorado, do hereby certify that the attached copy of Ordinance No . 140 , 1985 , is a true and correct copy; that said Ordinance was introduced and approved on first reading by the Council of the City of Fort Collins , Colorado , at a regular meeting of thereof , held at Council Chambers , City Hall , 300 LaPorte Avenue, Fort Collins , Colorado, the regular meeting place thereof , on Tuesday, the 5th day of November , 1985 ; that said Ordinance was finally passed on second reading by the Council at a regular meeting thereof , held at Council Chambers , City Hall , 300 LaPorte Avenue, Fort Collins , Colorado, the regular meeting place thereof, on Tuesday, the 19th day of November , 1985; that a true copy of said Ordinance has been authenticated by the signatures of the Mayor of the City and myself as City Clerk thereof, sealed with the seal of the City, and numbered and recorded in a book marked "Ordinance Record" kept for that purpose in my office; and that the Ordinance was duly published by number and title only together with a statement that the text thereof was available for public inspection and acquisition in the office of the City Clerk and a notice giving the date when the Ordinance would be presented for final passage and again by number and title only together with a notice of the final passage thereof in The Coloradoan, a newspaper of general circulation published in the City, in its issues of November 10 , 1985 , and November 24 , 1985 , as evidenced by the certificates of the publisher attached hereto at pages 24 and 25 . I further certify that the foregoing pages 1 through 22 , inclusive, constitute a true and correct copy of the record of the proceedings of the Council at its aforesaid regular meetings, insofar as the proceedings relate to the Ordinance; that the proceedings were duly had and taken, that the meetings were duly held; and that the persons were present at the meetings as therein shown. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the City of Fort Collins , Colorado, this 2nd day of December , 1985 . (CITY) City Clerk (SEAL) City of Fort Collins , Colorado -24- STATE OF COLORADO ) COUNTY OF LARIMER ) ss . CITY OF FORT COLLINS ) (Attach affidavit of publication of Ordinance by number and title only and statement that text available for public inspection and acquisition in office of City Clerk and notice giving date when Ordinance to be presented for final passage. ) -25- The Coloradoan STATE OF COLORADO ) COUNTY OF LARIMER )ss. AFFIDAVIT OF PUBLICATION Suzanne K. Bielke being first duly sworn upon oath, deposes and says: That said is the Legal Clerk of The Coloradoan; that said has personal knowledge of all facts set forth in this affidavit; that The Coloradoan is a public daily newspaper of general circulation, having its principal office and place of business situated in said County of Larimer; that said Coloradoan is printed and published daily; that said Coloradoan is a daily newspaper, duly qualified for the purpose set forth within the meaning of Chapter 109, Article 1, Sections 1-1 to 1-8 inclusive of Colorado Revised Statutes 1963, and any amendment thereof passed prior to the date hereof; that said newspaper had, prior to January 1, 1936, and has ever since said date been admitted to the United States Mails as second class matter under the provisions of the Act of March 3, 1879, and any amendments thereof, that said newspaper is printed in whole in said County of Larimer and has a general circulation therein; that said newspaper has been so printed and published as a public daily newspaper of general circulation in said County of Lar- imer, uninterruptedly and continuously, during the period of more than fifty-two consecu- tive weeks next prior to the first issue thereof containing the annexed legal notice of advertisement; that said annexed legal notice or advertisement was published in the regular and entire editions of said newspaper for 1 successive weeks on Sunday of each successive week; that the first publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the loth day of November , A.D. 19 85; that the last publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the 1 nth day of Nnvemhar , A.D. 19 95 , and that copies of each number of said paper in which said notice or advertisement was published were delivered by carriers or transmitted by mail to each of the subscribers of said paper, according to the accustomed mode of business in this office. P-15 Subscribed and sworn to before me, at and within the County of Larimer, State of Colorado this loth day of November A.D. 19 85 �.Jt 15. 1937 My commission expires 1212 kwers de, t� i I;ins, CO fi052d City Clerk % Notary Public Delivered to 'tLL" GIVEN that the Fort Collins City Council, Ion Tuesday, November 6, 1983 passed and adopted the lollowing ordinance(S)on first reading and ordered their publication by title only,with said ordinance(s)to be presented for final Passage on November 19,1985.The full text of Said ordinance(s) is available for Public inspection and acquisition in the office of the city clerk. ORIDNANCE NO. 136, 1985 AN ORDINANCE RELATING TO ,THE ISSUANCE OF INDUS TRIAL DEVELOPMENT REVE NUE BONDS UNDER THE PRO- VISIONS OF THE COLORADO COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT; PROVIDING FOR THE ISSUANCE AND SALE OF CITY OF FORT COLLINS,COLO B RADO, INDUSTRIAL EVEL- OPMENT REVENUE BONDS, SERIES 1985 (THE MOUNTAIN AVENUE PLAZA ASSOCIATES PROJECT) IN THE PRINCIPAL AMOUNT OF S600,000 FOR THE PURPOSE OF LOANING FUNDS 70 MOUNTAIN AVENUE PLAZA ASSOCIATES TO FINANCE IMPROVEMENTS RELATING TO ACQUIRING, CONSTRUCTING, EQUIPPING AND RENOVATING COMMER- CIAL BUILDINGS IN FORT COL LINS,LARIMER COUNTY,COL ORADO; APPROVING AND AUTHORIZING THE EXECU TION AND ASSIGNMENT OF A LOAN AGREEMENT AND NOTE BETWEEN MOUNTAIN AVENUE PLAZA ASSOCIATES AND THE CITY;AND AUTHOR IZI NG THE PREPARATION AND EXECUTION OF CERTAIN RELATED DOCUMENTS AND INSTRUMENTS, ORDINANCE NO. 137, 1985 AN ORDINANCE RELATING TO l'HE ISSUANCE OF INDUS- TRIAL DEVELOPMENT REVE NUE BONDS UNDER THE PRO- VISIONS OF THE COLORADO COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT; PROVIDING FOR THE ISSUANCE AND SALE OF CITY OF FORT COLLINS,COLO- RADO, INDUSTRIAL BEVEL OPMENT REVENUE BONDS, SERIES 1985 (THE TULAKES ASSOCIATES PROJECT) IN THE PRINCIPAL AMOUNT OF $920,000 FOR THE PURPOSE OF LOANING FUNDS TO TULAKES ASSOCIATES TO FINANCE IMPROVEMENTS RELATING TO CONSTRUCTING AN ADDI TION TO AN EXISTING OFFICE AND MANUFACTURING FACILITY IN FORT COLLINS, LARIMER COUNTY, COLO- RADO; APPROVING AND AUTHORIZING THE EXECU- TION AND ASSIGNMENT OF A LOAN AGREEMENT AND NOTE BETWEEN TULAKES ASSOCIATES AND THE CITY; AND AUTHORIZING THE PREPARATION AND EXECU- TION OF CERTAIN RELATED DOCUMENTS AND INSTRU MENTS. ORDINANCE NO. 140, 1985 AN ORDINANCE AUTHORIZ- ING THE ISSUANCE OF A CITY OF FORT COLLINS, COLO RADO,GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. $7, SPECIAL ASSESSMENT BOND, DATED DECEMBER 15, 1985, IN THE PRINCIPAL AMOUNT OF 8I,640,0DO; PRES- CRIBING THE FORM OF THE BOND; AND PROVIDING FOR THE PAYMENT OF THE BOND AND THE INTEREST THEREON. ORDINANCE NO, 14Z, 1985 AN ORDINANCE AUTHORIZ- ING THE ISSUANCE OF CITY OF FORT COLLINS,COLORADO DOWNTOWN DEVELOPMENT AUTHORITY TAX INCREMENT REFUNDING BONDS, SERIES 1985A, DATED DECEMBER I, 1985, IN THE AGGREGATE PRINCIPAL AMOUNT OF 88,885,D00, FOR THE PURPOSE OF REFUNDING THE CITY OF FORT COLLINS, COLORADO DOWNTOWN DEVELOPMENT AUTHORITY TAX INCREMENT ,BONDS,SERIES 1994A. ORDINANCE NO. 143, 1995 AN ORDINANCE AUTHORIZ ING THE ISSUANCE OF CITY OF FORT COLLINS, COLO RADO, SEWER REVENUE REFUNDING AND IMPROVE MENT.BONDS, SERIES 1985, DATED NOVEMBER 1, 1985, IN THE AGGREGATE PRINCIPAL AMOUNT OF$30,715,00o. Wanda M. Kralicek - The Codra loan, R95, Noty Clerk ye meek 10, 1985 STATE OF COLORADO ) COUNTY OF LARIMER ) ss . CITY OF FORT COLLINS ) (Attach affidavit of publication of Ordinance by number and title only and notice of final passage thereof . ) -26- The Coloradoan STATE OF COLORADO ) COUNTY OF LARIMER )ss. AFFIDAVIT OF PUBLICATION Suzanne K. Bielke being first duly sworn upon oath, deposes and says: That said is the Legal Clerk of The Coloradoan; that said has personal knowledge of all facts set forth in this affidavit; that The Coloradoan is a public daily newspaper of general circulation, having its principal office and place of business situated in said County of Larimer; that said Coloradoan is printed and published daily; that said Coloradoan is a daily newspaper, duly qualified for the purpose set forth within the meaning of Chapter 109, Article 1, Sections 1-1 to 1-8 inclusive of Colorado Revised Statutes 1963, and any amendment thereof passed prior to the date hereof; that said newspaper had, prior to January 1, 1936, and has ever since said date been admitted to the United States Mails as second class matter under the provisions of the Act of March 3, 1879, and any amendments thereof, that said newspaper is printed in whole in said County of Larimer and has a general circulation therein; that said newspaper has been so printed and published as a public daily newspaper of general circulation in said County of Lar- imer, uninterruptedly and continuously, during the period of more than fifty-two consecu- tive weeks next prior to the first issue thereof containing the annexed legal notice of advertisement; that said annexed legal notice or advertisement was published in the regular and entire editions of said newspaper for 1 successive weeks on Sunday of each successive week; that the first publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the 24th day of November , A.D. 19L5---; that the last publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the 24th day of Noypmbpr , A.D. 1989, and that copies of each number of said paper in which said notice or advertisement was published were delivered by carriers or transmitted by mail to each of the subscribers of said paper, according to the accustomed mode of business in this office. R-57 J L-L1 Subscribed and sworn to before me, at and within the County of Larimer, State of Colorado this 24th day of November A.D. 19 85 My commission expires v c' _ �C �� City Clerk / �' Notary Public U Delivered to NOTICE IS HEREBY GIVEN That the Fort Collins City Council, on Tuesday, November 19, 1985, Passed and adopted the following ORDINANCE NO. 138, ID85 ortlinances on Second reading: OF THE COUNCIL OF THE CITY ORDINANCE NO. 134,1985 OF FORT COLLINS BEING AN OF THE COUNCIL OF THE CITY ORDINANCE AMENDING THE OF FORT COLLINS APPROPRI ZONING ORDINANCE OF THE ATING UNANTICIPATED REV- CITY OF FORT COLLINS BY ENUE IN THE CULTURAL SER CHANGING THE ZONINC,CLAS VICES FUND SIFICATION FOR CERTAIN ORDINACE NO,135. 1985 ( PROPERTY KNOWN AS THE OF THE COUNCIL OF THE CITY I CENTER FOR ADVANCED, OF FORT COLLINS VACATING TECHNOLOGY REZONING, ALL EASEMENTS ON THE ORDINANCE NO. 139. 1985 j REPLAT OF LOTS 1 AND 2 OF THE COUNCIL OF THE CITY TIMBERLINE APARTMENTS OF FORT COLLINS RELATING PUD TO CREATION AND ORGAN I ZA ORDINANCE NO. 736, IT TION OF THE GREENBRIAR AN ORDINANCE RELATING TO SPECIAL IMPROVEMENT DIS THE ISSUANCE OF INDUS- TRICT NO,87 AND PROVIDING TRIAL DEVELOPMENT REVE- FOR THE CONSTRUCTION OF NUE BONDS UNDER THE PRO- IMPROVEMENTS THEREOF. VISIONS OF THE COLORADO ORDINANCE NO. 140, 1985 COUNTY AND MUNICIPALITY I AN ORDINANCE AUTHORIZ DEVELOPMENT REVENUE1 ING THE ISSUANCE OF A CITY BOND ACT; PROVIDING FOR OF FORT COLLINS, COLO THE ISSUANCE AND SALE OF RADO,GREENBRIAR SPECIAL CITY OF FORT COLLINS,COLD I IMPROVEMENT DISTRICT NO, RADO, INDUSTRIAL DEVEL- 87, SPECIAL ASSESSMENT OPMENT REVENUE BONDS, BOND, DATED DECEMBER 15.j SERIES 1985 (THE MOUNTAIN 1985, IN THE PRINCIPAL AVENUE PLAZA ASSOCIATES AMOUNT OF 51,640.000; PRES PROJECT) IN THE PRINCIPAL CRIBING THE FORM OF THEI AMOUNT OF 8600,000 FOR THE BOND; AND PROVIDING FORI PURPOSE OF LOANING FUNDS THE PAYMENT OF THE BONDI TO MOUNTAIN AVENUE AND THE INTEREST PLAZA ASSOCIATES TO THEREON. FINANCE IMPROVEMENT'S ORDINANCE NO. 141, 1905 RELATING TO ACQUIRING, OF THECOUNCILOFTHEC7TV CONSTRUCTING, EQUIPPING OF FORT COLLINS APPROPRI AND RENOVATING COMMER- ATING UNANTICIPATED REV CIAL BUILDINGS IN FORT COL ENUE IN THE STREET OVER LINS,LARIMER COUNTY,COL SIZING FUND FOR TRANSFER i ORADO; APPROVING AND TO THE CAPITAL PROJECTS AUTHORIZING THE EXECU- FUND AND APPROPRIATING TION AND ASSIGNMENT OF A UNANTICIPATED REVENUE LOAN AGREEMENT AND IN THE CAPITAL PROJECTS NOTE BETWEEN MOUNTAIN FUND AVENUE PLAZA ASSOCIATES ANORDINANCE NO. IU , 1985 ANDTHECITY;ANDAUTORIZ ING THE ISSUANCE T CITY ING THE PREPARATION AND EXECUTION OF FORT COLLINS,COLORADO RELATED DOCUMENTS CERTAIN AND DOWNTOWN DEVELOPMENT I INSTRUMENTS AUTHORITY TAX INCREMENT ORDINANCE NO. 137, 1985 REFUNDING BONDS, SERIES I AN ORDINANCE RELATING TO 1905A, DATED DECEMBER I, ' THE ISSUANCE OF INDUS 1985. IN THE AGGREGATE TRIAL DEVELOPMENT REVE- PRINCIPAL AMOUNT OF NUE BONDS UNDER THE PRO $8.885,000, FOR THE PURPOSE VISIONS OF THE COLORADO OF REFUNDING THE CITY OF COUNTY AND MUNICIPALITY FORT COLLINS, COLORADO DEVELOPMENT REVENUE DOWNTOWN DEVELOPMENT BOND ACT; PROVIDING FOR AUTHORITY TAX INCREMENT THE ISSUANCE AND SALE OF BONDS,SERIES 1984A CITYOF FORT COLLINS,COLO ORDINANCE NO. 143, 19R5 RADO, INDUSTRIAL DEVEL AN ORDINANCE AUTHORIZ OPMENT REVENUE BONDS, ING THE ISSUANCE OF CITY SERIES 1985 (THE TULAKES OF FORT COLLINS, COLO ASSOCIATES PROJECT) IN RADO, SEWER REVENUE THE PRINCIPAL AMOUNT OF REFUNDING AND IMPROVE $920.D00 FOR THE PURPOSE OF MENT, BONDS, SERIES 1985, LOANING FUNDS TO TULAKES DATED NOVEMBER 1, 1985, IN ASSOCIATES TO FINANCETHE AGGREGATE PRINCIPAL IMPROVEMENTS RELATING AMOUNT OF$30,715,Goo. TO CONSTRUCTING AN ADDI- Wanda M. Kraiicek TION TO AN EXISTING OFFICE City Clerk AND MANUFACTURING The Coloratloan, R 57, November i FACILITY IN FORT COLL,NS, 24, 1985 LARIMER COUNTY, COLO- RADO; APPROVING ANDI AUTHORIZING THE E%ECU TION AND ASSIGNMENT OF A LOAN AGREEMENT AND --- — NOTE BETWEEN TULAKES ASSOICATES AND THE CITY; I AND AUTHORIZING THE 'I PREPARATION AND EXECU TION OF CERTAIN RELATED DOCUMENTS AND INSTRU- MENTS. ORDINANCE NO. 140, 1985 AN ORDINANCE AUTHORIZING THE ISSUANCE OF A CITY OF FORT COLLINS, COLORADO, GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. 87 , SPECIAL ASSESSMENT BOND, DATED DECEMBER 15 , 1985 , IN THE PRINCIPAL AMOUNT OF $1 , 640 , 000 ; PRESCRIBING THE FORM OF THE BOND; AND PROVIDING FOR THE PAYMENT OF THE BOND AND THE INTEREST THEREON. INTRODUCED, READ, APPROVED ON FIRST READING, AND ORDERED PUBLISHED BY NUMBER AND TITLE ONLY this 5th day of November , 1985 . CITY OF FORT COLLINS , COLORADO (CITY) Kayor 'LJL4�L27 (SEAL) Attest : ogle�6 c City Clerk The text of the foregoing Ordinance is available for public inspection and acquisition in the office of the City Clerk. The Ordinance will be presented for final passage at the regular meeting of the Council to be held at Council Chambers , City Hall , 300 La Porte Avenue, Fort Collins, Colorado , on Tuesday, the 19th day of November , 1985 , at 6 : 30 p.m. -27- ORDINANCE NO . 140 1985 AN ORDINANCE AUTHORIZING THE ISSUANCE OF A CITY OF FORT COLLINS , COLORADO, GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. 87 , SPECIAL ASSESSMENT BOND, DATED DECEMBER 15 , 1985 , IN THE PRINCIPAL AMOUNT OF $1 , 640 , 000 ; PRESCRIBING THE FORM OF THE BOND; AND PROVIDING FOR THE PAYMENT OF THE BOND AND THE INTEREST THEREON. READ, PASSED ON SECOND READING, AND ORDERED PUBLISHED BY NUMBER AND TITLE ONLY this 19th day of November, 1985 . CITY OF FORT COLLINS, COLORADO (CITY) M yor (SEAL) Attest : City Clerk -28-