HomeMy WebLinkAbout064 - 12/12/1974 - AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION WATER REFUNDING BONDS SERIES 1974 IN THE PRINCIPAL AM ORDINANCE NO (p _ l97 �
AN ORDINANCF AUrIIORIZTNG THE ISSUANCE OF GFNERAL
OBLICA'1ION WATER RFFUVDINC BOPD5 SERIES 1974 IN
THE PPINCIPAL AMOUNT OF $1 935 000 OF THE CITY OF
FORT COLLINS COLORADO FOR THE PURPOSE OF REFUND-
ING $2 365 000 GENERAL OBLIGATION WATER BONDS DATED
JUNE 1 1965 PROVIDING FOR THE ESTABLISHMFNT OF
AN ESCROW ACCOUNT FOR THE PAYMENT AND RI DEMPTION OF
THE OUTSTANDING BONDS TO BE RFFUNDED PRFSCRIBING
THE FORM OF THE 1974 PEFUNDINC BONDS PROVIDING FOR
THE APPLICATION OF THE NET REVENUES OF THE WATER
SYSTEM AND FOR THE LEVY OF TAXES TO PAY SAID RE-
FUNDING BONDS AND THE INTFREST THERE04 PRESCRIBING
OTHER DETAILS IN CONNECTION THFREWITH, AND DECLAR-
ING AN EMERGENCY
WHEREAS, the City of Fort Collins in the County of
Larimer and State of Colorado, is a political subdivision of
the State, a body corporate and politic and a home-rule city
pursuant to Article XX of the State Constitution and the
Charter of the City and
WHEREAS the City Council (herein "Council") deems it ne-
cessary to authorize by this Ordinance the issuance of nego-
tiable, coupon General Obligation Water Refunding Bonds ,
Series 1974, of the City to provide funds to refund and pay
the outstanding General Obligation Water Bonds of the City
described in this Ordinance and
WHFRLAS , the City of Fort Collins Colorado by Ordi-
nance heretofore adopted and approved by the City Council
has authorized the issuance of its Ceneral Obligation Water
Bonds Series June 1, 1965, dated June 1 1965 in the amount
of $3, 200, 000 (herein the "1965 Issue") , of which there re-
main outstanding the amount of $2, 365 000, being bonds num-
bered 168 to 640 inclusive bearing interest payable semi-
annually on June 1 and December 1 each year and maturing on
December 1 as follows
2
Bond Number_ Amounts Years In--rest Rate
(All Inclusive) Maturing Maturing (Per Annum)
168 - 203 $180 000 1975 2 907
204 - 240 185 000 1976 2 907
241 - 279 195 000 1977 2 907
280 - 319 200, 000 1978 2 90;
320 - 360 205 000 1979 3 007
361 - 403 215 , 000 1980 3 007
404 - 447 220, 000 1981 3 00%
448 - 493 230 000 1982 3 007
494 - 540 235, 000 1983 3 107
541 - 589 245, 000 1984 3 107
590 - 640 255, 000 1985 3 10%
and
WHEREAS, bonds maturing December 1, 1975 and thereafter
are redeemable prior to maturity at the option of the City in
inverse numerical order, on December 1, 1974 and on any in-
terest payment date thereafter upon payment of par and ac-
crued interest, and
WHEREAS, the City Council has determined that it is ne-
cessary and in the best interests of the City that the out-
standing water bonds described above in the aggregate prin-
cipal amount of $2 , 365 , 000 remaining outstanding be refunded
(1) in order to remove restricting and ambiguous covenants
and to permit the issuance of future general obligation water
bonds additionally secured by a pledge of net water revenues
of the City on a parity first lien basis, regardless of time
of issuance and without satisfaction of an earnings test
and thereby to permit the issuance of further bonds on more
advantageous terms without question as to the existence of
the superior prior pledges or liens and (2) in order to re-
duce rates and interest costs and to effect other economies ,
thereby providing the City with a decrease in total debt
requirements in excess of $194, 685 all to the benefit of the
City and its inhabitants , in accordance with the Charter and
WHEREAS General Obligation Water Refunding Bonds Series
1974 in the amount of $1, 935 000 have been sold and awarded
to Boettcher and Company of Denver Colorado for cash at
par and accrued interest
THEREvCRE BE IT ORDAITTED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, COLORADO
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Section 1 That for the purpose of providing funds with
which to refund and pay $2 365 , 000 of its 196.E Issue, above
described the City of Fort Collins Colorado shall issue its
General Obligation Water Refunding Bonds , Series 1974, in
the principal amount of $1, 935 , 000 Said Refunding Bonds
shall be dated December 1, 1974 shall consist of 387 bonds
in the denomination of $5, 000 each numbered 1 to 387 , inclu-
sive shall bear interest at the rate of 67 per annum paya-
ble on June 1, 1975 and semiannually thereafter on tre lst
day of June and the lst day of December each year, and shall
mature semiannually on June 1 and December 1 as follows
Amount Maturity
$ 75 000 June 1 1975
60, 000 December 1 , 1975
75 , 000 June 1 1976
70 000 December 1 1976
100 000 June 1 1977
60 000 December 1 1977
100 000 June 1 , 1978
65 000 December 1 1978
100 000 June 1, 1979
75 000 December 1 1979
100 000 June 1 1980
90 000 December 1, 1980
100 000 June 1, 1981
100, 000 December 1 , 1981
115, 000 June 1 1982
100 000 December 1 1982
125 000 Tune 1 1983
105 , 000 December 1 , 1983
125 000 Tune 1 1984
120 000 December 1 1984
50 000 June 1 1985
25 000 December 1 1985
The 1974 Refunding Bonds shall not be redeemable prior
to their respective maturity dates
The 1974 Refunding Bonds and the interest coupons at-
tached thereto shall be payable in ladful money of the United
States of America at the office of the Director of Finance,
Fort Collins Colorado
Section 2 The 1974 Refunding Bonds shall be signed with the
facsimile signature of the Mayor, with a facsimile of the seal of
the City affixed thereto , attested by the manual signature
of the City Clerk, and countersigned by the facsimile signa-
ture of the Director of Finance of the City The interest
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coupons attached to said bonds shall bear the facsimile sig-
nature of the Director of Finance and when issued as afore-
said as part of said bonds shall be the binding obligations
of the City according to their import Should any officer
whose manual or facsimile signature appears on said bonds or
the interest coupons attached thereto cease to be such offi-
cer before delivery of the bonds to the purchaser such
manual or facsimile signature shall nevertheless be valid
and sufficient for all purposes
Section 3 That the Refunding Bonds and the interest
coupons attached thereto shall be in substantially the fol-
lowing form
5
(Form of Bond) --
UNITED STATES OF AMERICA
STATE OF COLORADO COUNTY OF LARIMER
CITY OF FORT COLLINS
GENERAL OBLIGATION WATER REFUNDING BOND
SERIES 1974
No $5, 000
The City of Fort Collins, in the County of Larimer and
State of Colorado (herein the "City") , hereby acknowledges
itself indebted and promises to pay to the bearer hereof the
sum of
FIVE THOUSAND DOLLARS
June
on the 1st day of December, 19 , with interest thereon at the
rate of six per centum (67) per annum, payable on June 1, 1975
and semiannually thereafter on the 1st day of June and the
1st day of December each year, at the office of the Director
of Finance, in Fort Collins , Colorado, upon presentation and
surrender of said coupons and this bond as they severally be-
come due
Bonds of this issue are not callable for redemption pri-
or to their respective maturity dates
This bond is issued by the City Council of the City of
Fort Collins , Colorado, for the purpose of providing funds
with which to refund Ceneral Obligation Water Bonds of the
City under the authority of and in full conformity with the
Constitution of the State of Colorado and the Charter of
said City and pursuant to an ordinance duly adopted, pub-
lished and made a law of said City prior to the issuance of
this bond
It is hereby certified and recited that all the require-
ments of law have been duly complied with by the proper of-
ficers of the City in the issuance of this bond that the
total debt of the City including that of this bond, does not
exceed any limit of indebtedness prescribed by the Constitu-
tion or laws of the State of Colorado or the Charter of the
6
City, and that provision has been made for the levy and col-
lection of annual taxes on all of the taxable property in the
City and the application of the net revenues of the municipal
waterworks system of the City sufficient to pay the interest
on and the principal of this bond when the same become due
The full faith and credit of the City of Fort Collins ,
Colorado are hereby pledged for the punctual payment of the
principal of and interest on this bond
IN TESTIMONY WHEREOF, the City Council of the City of
Fort Collins , Colorado has caused this bond to be signed with
the facsimile signature of the Mayor, sealed with a facsimile
of the seal of the City, attested by the manual signature of
the City Clerk, countersigned with the facsimile signature
of the Director of Finance and the interest coupons attached
hereto to be signed with the facsimile signature of the Di-
rector of Finance, as of the 1st day of December, 1974
(Facsimile Signature)
(FACSIMILE SEAL) Mayor
ATTEST
(Do Not Sign)
City Clerk
COUNTERSIGNED
(Facsimile Signature)
Director of Finance
(Form of Interest Coupon)
No $
June
On the 1st day of December, 19,, the City of Fort
Collins , in the County of Larimer State of Colorado will
pay to the bearer the amount shown hereon in lawful money of
the United States of America, at the office of the Director
of Finance, in Fort Collins , Colorado, being interest then
due on its General Obligation Water Refunding Bond, Series
1974, dated December 1, 1974, bearing
No
(Facsimile Signature)
Director of Finance
8
Section 4 When said Refunding Bonds have been duly
executed the Director of Finance is hereby directed to de-
liver the bonds to the purchaser thereof on receipt of the
agreed purchase price therefor The proceeds of the Refund-
ing Bonds shall be used only for the purpose stated therein
and for paying the costs and expenses incurred incidental to
the issuance of said bonds and for no other purpose whatever
Neither the purchaser of said bonds nor the subsequent holder
of any of them shall be responsible for the application or
disposal by the City, or any of its officers , of any of the
funds derived from the sale thereof
Section 5 For the purpose of providing the necessary
funds to meet the interest accruing on the Refunding Bonds as
the same becomes due and for the purpose of providing for
the payment of the said bonds as they mature, there shall be
levied on all the taxable property of the City, in addition
to all other taxes , direct annual taxes sufficient to pay
said interest and Drincipal promptly as the same become due,
and said taxes when collected shall be applied solelv for the
purpose of the payment of the interest on and the principal
of the bonds , respectively and for no other purpose what-
ever until the indebtedness so contracted under this Ordi-
nance both principal and interest, shall have been fully
paid satisfied and discharged but nothing herein contained
shall be so construed as to prevent the City from applying
any other funds available or committed for that Durpose to
the payment of said interest or principal as the same, re-
spectively, mature and upon such payments the levies
herein provided may thereupon to that extent be diminished
The sums produced by the levies hereinabove provided to meet
the interest on the Refunding Bonds and to discharge the prin-
cipal thereof when due are hereby applied for that purpose
and said amounts shall be included in the annual budget reso-
lutions and the appropriation ordinances to be adopted and
9
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passed by the Council in each year if such actions shall be
necessary to effectuate the provisions of this Ordinance
while any of the Refunding Bonds herein authorized either as
to principal or interest are outstanding or unpaid No Char-
ter, statutory or constitutional provisions enacted after the
issuance of the Refunding Bonds herein authorized shall in any
manner be construed as limiting or impairing the obligation
of the City to levy ad valorem taxes without limitation of
rate or amount for the payment of the principal of and inter-
est on the bonds herein authorized
Section 6 The City hereby irrevocably pledges to pay
the principal of and the interest on the Refunding Bonds from
the net revenues of the municipal waterworks system (herein
"system") The City hereby reserves the right to secure,
without restriction any water bonds and refunding water
bonds of the City hereafter issued equally and ratably with
the December 1, 1974 Refunding Bonds The City also hereby
commits itself to fix and annually to maintain rates and
charges for water and services furnished by the system which,
together with moneys on hand and available therefor, will be
sufficient to pay operation and maintenance expenses of the
system and the principal of and interest on all bonds and
other obligations of the system as they respectively become
due The term "net revenues" as used herein refers to the
gross revenues of the system after the payment of operation
and maintenance expenses The term "operation and maintenance
expenses" as used herein means all current reasonable and ne-
cessary expenses of operating maintaining; and repairing the
system, but does not include any allowance for depreciation
or capital replacements and improvements
Section 7 The terms "municipal waterworks system" or
"system" as used herein shall include not only the property
comprising the waterworks system of the City of Fort Collins
at the present time, but all additions and betterments
10
thereto and improvements and extensions thereto which may
hereafter be constructed or acquired by the City
Section 8 The City hereby additionally irrevocably
covenants and agrees with each and every holder of the Re-
funding Bonds that so long as any of said bonds remain out-
standing
(a) It will continue to operate and manage the system
in an efficient and economical manner and keep and maintain
separate accounts of the receipts and disbursements thereof
in such manner that the revenues thereof may at all times be
readily and accurately determined
(b) It will not sell or alienate any of the property
constituting any part or all of the system in any manner or
to any extent as might reduce the security provided for the
payment of ttie Refunding Bonds , but the City may sell any
portion of such property which shall have been replaced by
other similar property of at least equal value, or which
shall cease to be necessary for the efficient operation of
the system
(c) The rates for all services rendered by the system
to the City and to its inhabitants and to all consumers with-
in or without the boundaries of the City shall be reasonable
and just taking into account and consideration the cost
and value of the system and the proper and necessary allow-
ances for the depreciation thereof and the amounts necessary
for the retirement of all bonds and other securities or ob-
ligations payable from the revenues of the system and the
accruing interest thereon
(d) There shall be charged against all purchasers of
service such rates and amounts as shall be adequate to meet
the requirements of this and the preceding secitons hereof, and
said rates and amounts from the system shall be sufficient to
satisfy the requirements of Section 6 hereof
11
(e) The Citj shall cause all rates fee,, and service
charges appertaining to the system to be collected as soon
as reasonable shall prescribe and enforce rules and regula-
tions for the payment thereof and for the connection with
and the disconnection from properties of the system, and
shall provide methods of collection and penalties , including
but not limited to denial of service for non-payment of such
rates , fees and service charges to the end that net revenues
of the system shall be adequate to meet the requirements
hereof
(f) At regular periods each vear it will render bills
for water services furnished Until paid, all water rates ,
fees tolls and charges shall constitute a lien on the prop-
erty served, and the City shall take whatever action is le-
gally permissible promptly to enforce and collect delinquent
water rates fees , tolls and charges and to enforce said
liens
(g) At least once each year it will furnish Boettcher
and Company, purchasers of the Refunding Bonds with a com-
plete statement of the receipts and disbursements of and for
the system for the fiscal year immediately preceding such
statements
(h) It will carry workmen' s compensation public lia-
bility and other forms of insurance on insurable system
property in such amounts as is customarily carried on
prudently operated systems of like character
Section 9 The proceeds derived from the sale of the
Refunding Bonds authorized herein in an amount not less
than $1 935 000 and the accrued interest on the bonds be-
ing refunded, shall be deposited pith the First National
Bank Fort Collins Colorado (hereinafter
the "Bahl-") in a separate fund and escrow account hereby
created and known as the "City of Fort Collins General Ob-
ligation Water Bonds Series 1965 Escrow Account", herein
12
designated as the "Refunding Escrow Account" or "Escrow Ac-
count" , which account shall be at all times sufficient to-
gether with any interest to be deriaved from the investment
and any temporary reinvestment of the deposits or any part
thereof, in direct obligations of or obligations guaranteed
by the United States of America, to pay the principal of and
interest on the outstanding issue to be retired, at their re-
spective maturities , as follows
1965 Issue
Bonds numbered 168 to 640, inclusive maturing in the
years 1975 and thereafter, shall be paid and retired at their
respective maturity dates , at the office of the Director of
Finance in Fort Collins, Colorado, according to their origi-
nal terms
Interest on the outstanding bonds of the 1965 Issue shall
be paid as the same accrues according to the original terms
of said bonds until said bonds mature
Section 10 The Bank shall invest the funds on deposit
in the Refunding Fscrow Account in direct obligations of or
obligations guaranteed by the United States of America, and
shall fully secure anv cash balance in said account in the
manner required by law for other trust funds
Section 11 If for any reason at any time, the funds
on hand in such Refunding Escrow Account shall be insuffi-
cient to meet the payments required as the same shall be
about to become due and payable, the City Council of the City
shall forthwith deposit in such Refunding Escros Account
such additional funds as may be required fully to meet the
amount so about to become due and payable
Section 12 The Bank shall from time to time redeem
all or a portion of the obligations in said Refunding Escrow
Account in sufficient amounts so that the proceeds there-
from and the interest thereon as the same accrues will be
sufficient to meet the interest requirements on the out-
standing Issue as such interest accrues , and to pay or call
13
in and redeem said bonds at their respective maturities , ac-
cording to the schedule hereinabove set forth
Section 13 The Mayor Clerk and Director of Finance of
the City shall, and they are hereby authorized and directed
to take all necessary or appropriate action toward the exe-
cution of a proper Escrow Agreement with the Bank concerning
the deposits in investments of and disbursements from said
Refunding Escrow Account, and such other agreements as may be
necessary or desirable to effectuate the provisions of this
a
Ordinance and comply with the requirements of law
Section 14 On or about the date when the Refunding
Bonds are delivered, or within a reasonable time thereafter,
the Director of Finance is authorized and directed to publish
a notice of refunding one time in a newspaper published in
the City
Section 15 The City covenants and agrees that it will
make no use of the proceeds of the bonds authorized herein
which might cause such obligations to be arbitrage bonds
within the meaning of Section 103 (d) of the Internal Revenue
Code of 1954, as amended, and the Regulations proposed and in
effect thereunder
Section 16 That if any one or more sections or parts
of this Ordinance shall be adjudged unenforceable or invalid
such judgment shall not affect impair or invalidate the re-
maining provisions of this Ordinance it being the intention
that the various provisions hereof are severable
Section 17 All ordinances or parts thereof in conflict
with this Ordinance are hereby repealed
Section 18 After said Refunding Bonds are issued this
Ordinance shall be and remain irrepealable until said bonds
and the interest thereon shall have been fully paid satis-
fied and discharged
Section 19 By reason of the fact that the municipal
bond market and the government bond market are subject to
14
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sudden and unpredictable changes the savings and other ad-
vantages afforded to the City by refunding the issue of out-
standing General Obligation Water Bonds described in this Or-
dinance could be drastically reduced or eliminated, thus
jeopardizing the entire plan of refunding, all to the detri-
ment of the City and its inhabitants , it is hereby declared
that an emergency exists and that this Ordinance is neces-
sary for the immediate preservation or protection of public
health, property or safety, and that this Ordinance shall be-
come effective immediately, and shall be numbered and record-
ed in the Ordinance Record, authenticated by the signatures
of the Mayor and of the City Clerk, shall be published in
the (2,0 1 0 �r c.-d a a 1n a newspaper of the
City published and of general circulation therein within 5
days after passage, and such publication shall also be au-
thenticated by the signatures of the Mayor and City Clerk
INTRODUCED, PRESFNTED AND FINALLY PASSED THIS 12TH DAY
OF DECEMBER, 1974
( S E A L ) /Ma r —
ATTEST
City C er
15
4
Thereupon Councilman U moved that
said Ordinance be passed and adopted as read as an emer-
gency ordinance Councilman seconded
the motion
The question being upon the passage and adoption of the
Ordinance, the roll was called with the following result
Those voting AYE
Mayor J IT N Fead
Councilmen Charles Bowling
Nancv P Gray
Mabel Preble
Margaret F Reeves
Jack Russell
Earl Wilkinson
Those voting NAY yi o v, e-
The presiding officer thereupon declared that, the
Mayor and at least four members of the entire Council having
voted in favor thereof, the motion was carried and the Or-
dinance duly passed and adopted as an emergency ordinance
It was then ordered that said Ordinance be recorded by
the City Clerk in the Ordinance Record of the City, and a
copy of said Ordinance be published in a newspauer of wide
circulation in the City
After consideration of other business to come before
the City Council. the meeting was adjourned
( SEAL N(a) ear
ATTEST
City Cler
16
STATE OF COLORADO )
COUNTY OF LARIMER ) s s
CITY OF FORT COLLINS )
I Verna Lewis City Clerk of Fort Collins Colorado
do hereby certify that the foregoing pages numbered 1 to 16
inclusive contain a true and correct copy of the proceedings
taken by the City Council of the City at a regular meeting
thereof held on Thursday, the 12th day of December, 1974, so
far as said proceedings relate to an ordinance authorizing
the issuance of Ceneral Obligation dater Refunding Bonds ,
Series 1974, of the City, in the principal amount of
$1 935 , 000, which was introduced and passed as an emergency
measure a true and correct copy of which-is set forth in
full in the proceedings of the Council that the original
Ordinance has been duly authenticated by the signatures of
the Mayor and myself as City Clerk of said City, sealed
with the seal of the City and recorded in the book kept for
that purpose in my office which record has been dulv signed
by said officers and sealed with the sea] of the City
IN WITNESS WHEREOF I have hereunto set my hand and af-
fixed the seal of the City this / -�7t4day of December 1974
( S E A L ) City—Clerk
17
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(Attach Affidavit of Publication of Ordinance )
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AFFIDAVIT OF PUBLICATION OkDINANCENO 64 1974 th e a 0
the e0f 5
AN ORDINANCE AUTHORIZING THE ISSUANCE OF GEN17RAL OBLIGATION e afely ee
STATE OF COLORADO WATER REFUNDING BONDS SERIES 1974 IN THE PRINCIPAL AMOUNT OF b) It
ss Sl 935 C00 OF THE CITY OF FORT COLLINS COLORADO FOR THE PURPOSE OF s stem
COUNTY OF LARIMER REFUNDING$2 355000 GENERAL OBLIGATION WATER BONDS DATED JUNE 1 payme 1 0
1965 PROVIDING FOR THE ESTABLISHMENT OF AN ESCROW ACCOUNT FOR v, ch shall
THE PAYMENT AND REDEMPTION OF THE OU STANDING BONDS TO BE v,l cnsh
REFUNDED PRESCRIBING THE FORM OF THE 1974 REFUNDING BONDS (u The
PROVIDING FOR THE APPLICATION OF THE NET REVENUES OF THE WATER c I0a11 co
1 T SYSTEM AND FOR THE LEVY OF TAXES TO PAY SAID REFUNDING BONDS AND just la
being first duly sworn THE INTEREST THEREON PRESCRIBING OTHER DETAILS IN CCNN-- TION P, a
THEREWITH AND DECLARING AN EMERGENCY ne essary to
from re e
upon oa h deposes and says That he is the _t l; WHEREAS the City of Fort Coll ns n the County of Lar mer and Stateof Colorado s (d)The
e pol t cat subd v s on of the State a body corporate nd pol t c and a home rule c ty shall be a
of the Fort Collins Colorudoan that he has personal knowledge of pursuant to Art cleXXof the State Const tut on and the Charter of the Cty and sa0 aesa
all the frets set forth in this affidavit that the Fort Collins Colo WHEREAS the C Count I(here n Count I )deems t necessary to author ie sect 6n
this Ord Hance the ssuance ng of nego able coupon General 0 I gat on Water Refund h9 (e)The
radoan is a public daily newspaper of general circulation having Bonds res 1974 of the Cty to provide funds to refund and pay the o stan ng to becollec
General Col gat on Water Bonds of the C ty descr bed n th s Ord nance and to Ire p
its principal office and place of business situated in said County of WHEREAS the C ty of Fort Coll is Colorado by Ord nance heretofore a opted a d p o e I es
Larimer that said Fort Collins Coloradoan is rented and publish apipWater
o ed Bonds
the C ty Count I has author Zed the ssuance of is f a at O0 gat on b t not 1
P Water Bonds Ser es June 1 1965 dated June 1 1965 nine amount of$3 200 OW(he r ch es rc
ed dai13 except Saturda3 s and legal holidays that said Fort Collins the 1965 Issue ) of wh ch the a rema n outstand ng the amount of$2 365000 b 9 re me
bonds numbered 168 to 640 nclus ve bear ng nterest payable sera annually on J 1 )At e
Color doan is a daih newspaper duly qualified for the purpose and December I each year and matur ng on December I as follows paJ a
set forth within the meaning of Chapter 109 Article 1 Sections 11 Bond N tubers Amounts Years ( a
(All Indus ve) Matur ng Matur ng (PePer An m) lr An mi a 0 tq let
to 18 inclusive of Colorado Revised Statutes 1963 and any amend if u '
168 203 S180 000 1975 290
dent thereof passed prior to the date hereof that said newspaper 204 240 185 ow 1976 29 for theses
had prior to Januar3 1 1936 and has ever since said date been 241 279 195OW 1977 29C s ace c
280 319 200 000 1978 2 90
admitted to the United States Malls as gccond class matter under 320 360 205000 1979 300 p en ly
361 403 215 COO 1980 3 M Sect on
the provisions of tl e Act of March 3 1879 and any amendments 404 447 220000 1981 303 1•0 e
thereof that said newspaper is printed in whole in said County of 448 493 230000 1982 300 r I ocu
494 540 235 000 1983 3 101 (1- a at
Larimer and has a geneial circulation therein that said newspaper 1 541 589 245000 1984 310° k o as
had been so p-lnted and published as a public daily newspaper of 590 640 255000 1985 310 Account c
vencial ciieulation in said County of Larimer uninterruptedly and and f om ine
WHEREAS bonds m t g December 1 1975 a d the arse a e e curable p o to ire eof
continuously during the period of more than fifty two consecutive
matur ty at the opt on off the
C ty n In e se Hume cal o de on Decembe 1 1974 a u on Am ca
weeks next prior to the first issue thereof containing the annexed any nterest payment date thereafter uponpaymentofpa a Jacc ued serest a d the rres
WHEREAS the C ty Count I has d to m ned that 1 s essa y and n the best legal notice or advertisement that said annexed legal notice or terests of the C ty that the outstand ng water bonds descr ed abo e n the agg egate 19651ss e
advertisement was published in the regular and entire editions of for c pal amo ntof$2365000 emanngoutstandng be of ded(1) norde to e o e Bo Ls
restr ct ng and amb guous coyenants and to pe m 1 the ssuance of fut a cone at be 03
said newspaper for obl gat onwater bonds add t onally sec ed by a pledg of net water e e eso the c ty F a cc
on a par ty f rst 1 en bas s regardless of 1 me of ssua cc and tho 1 sat start o of an I 1
earn ngs test and the Clay to perm 1 the ssuance of fu tl er bo us o mo a ad an ageous acco d
terms w thout quest on as to the a stence of the s pe o p 0 plec ges it I e s a 0(2) S CI 0
1 n P 1 1 t7 ,a'r n order t0 reduce rates and nterest costs and to effect other econom es the coy n u ect
successive weeks on ____ _ _ of each successive week pro d ng the C ty w In a der ease n Iota debt requ ements n e cess of$194 685 all to shall I
that the first publication of said legal notice or advertisement was the
hWHEREAS General Obl gat benef I of the C ty and Ishab on Water Refund ng BondsnSer sn1974 naheamo ntof ter ndoisect c
$1 935 OOO ha a been sold a d awa ded to Boettcher and Comapny of Den a Colo ado Acco I
forcash atparandaccrued nterest b cor
__L1 THEREFOREmil COLLINS COLORADOT ORDAINED BY THE COUNCIL OF THE CITY OF FORT amo c
in the regular and entire edition of said newspaper on the
Sect on 1 That for the put pose of pro d ng funds w th wh ch to efu u a d pay Scc o
1 $2 365 000 of is 1965 Issue above descr bed the C ty of Fort Coll ns Colorado shall ssue n sa d Rc
day Of _ ! 7 I Its Genera r
l Obl gat on Water Refund ng Bonds Ser es 1974 n the pr nc pal amount of a d the
y _ _ _ A D 19 _ that the last $1 935 OOO Sa d Refund ng Bond shall be dated December 1 1974 shall cons st of 387 equ e
publication of Bald legal notice or advertisement was in the regular bends n thedenom not onof S5000each numbered 1 to387 nclus ve shall bea me est re(eem s
at the rate of 61, per annum payable on June 1 1975 and sem annually the cafre 0 the set to Ih
1st day of June and the 1st day of December each year and shall matu a se a n ally Sect o
and entire edition of said newspaper of the _1 ' _ day on June l and December l as follows eeecblo
t s
Amount t I a
of A D 19 ^_ and that copies of $75000 J 1 197 d S I
I
each number Of said paper In w 60 000 Dece hich said notice Or advertisement 75OW J 1975 e
1 1976 a of c
was published were delivered by carriers or transmitted by mail 70OW Decemb 1 1976 Sect
to each of the si 6
.bscribers of said paper according to the accustom 10000 J 1 1977 w cis
000 Decemt 1 1977 w th n t
ed mode of business i thi�ffice 100 000 J e 1 1978 and the r,
65 000 Decen b 1978 Sect on
100 000 J e 1 1 1979 Iudged ur
^ ) 75 000 Decemb 1 19 9 ema n
�LL'yzLl ,1, v_—
100 000 J t c l 19 0 he of a
—+-- — Sect
50000 De Cfl'IJC 1 1980 pcale
Subscribed and sworn to before me at an ithin the County of 11� Decembe i i931 Sect o
115 000 Jun 1 1982 epeal
,y�/ 100 000 December 1 1987 a d s r
��— y i&,Z. �/��� 15 000 J e 1 1983 Sect o
Lorimer State of Colorado this _ day o 105000 Decemoe 1 1983 bo d m
125000 J nee 1984 a a sac
120 000 D tub 1 19B4 W 1 B
50000 Jun el 1985 thus Ie0
A D 19 25000 De embe 1 1985 nh b la
Con ili s on Clad res 01,tobor 4 1977 e
� The 1974 Refund ng Bonds shall not be edeemable p o to the eslxct a maru ty safety
a a
My Commission expires ___------ ---- dates bered ar
The 1974 Refund ng Bonds and the me est coupons attached thereto shall be payable Mayo a
n lawful money of the Un ted States of Anne ca at the off ce of ire D ecto of F ante C ty p
/ Fort Coll ns Colorado pubs car
Sect on 2 The 1974 Refund ng Bonds shall be s g led w th the fats I le s gnature of the I NT R^
-- -- — Mayor w in a fats m le of the seal of the C ty aff xed the eto attested by the m nual DECEN
Notary Public s gnature of the C ty Clerk and counters gned by the fats m le s Chat re of the D ector
of F nance of the C ty The nterest co pons attached to sa d bonds shall bea the fac J W
s In gnature of the D rector of F na cc and when ssued is Iforesa d as plrr of sa d May
., bonds shall be the b nd ng obl gat ons of the C ty accord nq to the r n port Shoulu any IS E A L
(,J t Ol r O J I, ('o, L off cer whose manual or fats m le s gnature appears on sa d bonds or the nterest
Delivered t0_____— — __Y _ coupons attached thereto cease to be such off cer before del very of the bonds to the ATTES
—fF 0�c -------------- ---------- P Po
1� ( D v�' �Oil purchaser such manual or fats m le s gnature shall nevertheless be val d and suit c ens
r1 1 74 4M b&m for all purposes Verna
t O r tr v U I.L 3 1� 1 Lll 00522 Section 3 That the Refund ng Bonds and the nterest coupons attached thereto shall be C ty Clc
4 in wbstant ally the follow ng form _ Fort Co
t
k
18
1
(here n system ) The C ty t ereby eser es the r ght to secure w nout es c o
.— water bonds a u efund ng water bonds of the C ty hereafter ssuea equal y anc I
w th the Dec 1 1974 Refund ng Bonds The C ty also n reby CC m T Is If to f
and a nuall to rates and charges for water and se ces fu 5 ed y the
system wh ch the w th moneys o ha of a of a I of in to w 11 b s if to
pay ope at on a d ma ntenance a penses of the system and the to no pal of C51
•aVlt of Publication of Ordinance on all bonds and other obi gat ons of the system as they respect elyb om due The
term net re enues as used here n refers to the g oss re a es of the syst m of c Ire
payme t of ope at o a of ma ntenance a pe es The t mop at o a d ma me cc
e pe ses as sed he e n mea s all cu e t easo able a d ecess y e p, ses of
ope at ng ma nta n g and epa ng the cyst m b t does of elude a Y allowance to
deprec at on or cap tal replacem Is a of mp o e its
S of 0 7 The t ms m n c p I wale 0 ks ystem sy m 5 d h C
shall not d not only the p op ty comp s g it e w to wo ks syst nI of the C ty of Fo t
C 'Is at the p e ont t m b t)It add t o a d b Ite e s th to d mp u Is
ande to so sthe etc whchm yhe aft be co st t do cq e by neC ty
Sect on 8 The C ty hereby add t o ally re ocably co ena Is a d ag es w Ili each
and e e y holde of the Refund g Bonds that so long as a /of sa d bo as rema out
stand ng
CAT 1
wT' ^�`� (a)It w II Cant nue 10 perat ind m nag the sy s In n an off c ent and eco om cat
ORDINANCE NO 64 1974 manner and keep and ma to n separate acco nis of the ece pis and d sburseme is
thereof n such manner that the reven es the eof may at all i mes be read ly and ac
AN ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION curately deform
WATER REFUf 71NG BONDS SERIES 1974 IN THE PRINCIPAL AMOUNT OF (b)It w II not sell or at enate any of the property const tut ng any pa t or all Of ne
$i 9350J0 OF TH CITY OF FORT COLLINS COLORADO FOR THE PURPOSE OF system n any manne or to any extent as m ght educe the secur ty pro u c,to the
REFUNDING$2 365000 GENERAL OBLIGATION WATER BONDS DATED JUNE 1 payment of the Ref nd ng Bonds but the C ty may sell a y po i on of s on p op, it,
1%5 PROVIDING FOR THE ESTABLISHMENT OF AN ESCROW ACCOUNT FOR wh ch shall have been reolaced by oth r s m la Croce t of at least ea al alue or
THE PAYMENT AND REDEMPTION OF THE OU STANDING BONDS TO BE wh ch shall cease to be necessa yto th off ce tope at the sy stem
REFUNDED PRESCRIBING THE FORM OF THE 1974 REFUNDING BONDS (c)The rates to all se ces rende ed b/the system to the C ty a d o is ib to is
PROVIDING FOR THE APPLICATION OF THE NET REVENUES OF THE WATER and to all consumers in norw the t it a bounda es of It e C ty shall be reaso bl a d
SYSTEM AND FOR THE LEVY OFT 1XES TO PAY SAID REFUNDING BONDS AND just tak ng 110 account a d cons de at o the cost a d alue of the cyst a the
Jeing first duly sN%orn THE INTEREST THEREON PRESCRIBING OTHER DETAILS IN CCNNCCTION p per and necessa y ajlowa ces to the dep cc at o the eof a J In amo nis
THEREWITH AND DECLARING AN EMFRGENCY ne essary for the et e i Tit of all bones a u oihe Secu 1 es 0 obi at o s payable
from the a enuesof the System a d the acc g me est lh eon
,ie t 1 WHEREAS the C ty of Fort Coli ns n the County of Lar mer and State of Colorado is (d)There shall be cha ged aga nst all pu chase s of ser ces ch rates and a o s as
a poll t Cat subd v s on of the State a body corporate nd pol t c and a home rule c ty shaI l be adequate to meet the requ ements of in sa d ihe p coed ng sect ons h of and
personal knowledge of purs nl to Art cle XX cf the State Con i tut On and the Charterof the C ty and sad ates and amo is f om the system shall be s if C e I to sat sty the equ c,e IS Of
the Fort Collins CO10 WH REAS the C ty Counc I(here n Counc I )deems 1 necessary to author ze by Sect on 6 hereof
this 0 d nonce the ssuance of negot able coupon General Obi gat on Water Refund ng (e)The C ty shall cause all aces fe s and so cc cha g s appe to g to it a Sys em
r11 cit culation having Bond Ser es 1974 of the C ty to p ov de funds to refund and pay the 0 island ng to be collected as soon as easo able st all p s be a d onto cc les and eC ]at o s
Ge a al Obl gat o Wat Bonds of the C ty desc bed n th s Ord nance a of for the payment the eof a d fo the con ecf o th d ire sco Cot on I om
rited in -iid County of WHEREAS the C ty of Fo I Coll s Colorado by Ord nance heretofo a adopted and propert esof thesyst m an l shall p o de methods of colt ton and p altos cl 9
is printed and publish app o ed by the C ty Counc i has autho zed the ssuance of is General Obl gat on but not I n ted to on I of se v ce fo o paym t of 5 Ch at S fees a se cc
Water Bonds Ser es Jun 1 1965 dated June 1 1965 n the amount of S3 200 000(he e r cha ges to the e d that net e e es of the system Sh If be au quate to eel the
th,it said Fort Collins the 1965 Issue ) of wh ch the a ema In outstand ng the amount of$2365000 be nq requ eme tshereof
bonds numbered 168 to 640 nclus a fear ng nterest payable semi annually on June I (f)At reguia pe ods each year t 11 en or b Its for to es fu n Unt I
it fled for the purpose and December)each year and matur ngon December 1 asfollows pa d at water rates fees tolls a d of a qes Sh II Co st tute a I the p ty ser
1rUele 1 Sections 1 1 Bond Numbers Amounts Years Interest Rate ved and the C ty st all take whate a act on S job Ily pe ss ble p amp ly 0 c to cc
(All Indus ve) Matu ng Matur ng (Per Annum) and collect del rque I water rates fe s tolls and Cha qes a d to onto cc sa d s
1963 ind any amend (g)At least o cc each yea 1 w II fu Sh Boettche o Con pa y p Ch s S of the
f that said neNi sp iper 168 203 $180 000 1975 2 90° Refund ng Bonds w th a complete stateme 1 of the ece pts and so se s of and
204 240 115 000 1976 2 90 for the system for II f seal yea mmed ately preceo ng s h stateme is
r since said date been 241 279 115000 1977 290' (h) It If carry wo kmen s compensat on publ c I ab I ly a othe to ms of n
280 319 200000 1978 29IN' surance 0 ns able system p operty n such amounts as s custo ly c co cn
nd class matter under 320 360 205000 1979 300o prudently operated systems ofIkecha acre
-ind -iny amendments 361 403 215000 1980 300' Sect on 9 The p oceeds de ed f om the sale of the R fund g Bo s a tho zed
404 447 220 000 1981 3 00 here n n an amount not less than Sl 935 000 and the acc ued to CST on if bo so, g
hole in -aid County of 448 493 230 000 1982 3 00 refunded shall be depos led w in the F rst Nat onal Ba k Fo I Coll s Coo a o
n thlt said newspaper 494 540 235000 1983 3 10° (here rafter the Bank ) n a sepa ate fu d ano esc ow acco t h eb1 c eate a d
p 541 569 245 000 1984 3 100 known as the C ty of Fort Coll ns Gene at Ohl gat on Wate Bo ds Se es 965 E ow
lie diily ne«czpaper of 590 640 255000 1985 310 Account here n des gnatedasthe Refund ng Esc ow Account o ESC Acco t
wh ch account shall be at all 1 mes cuff c ent togethe w th a y me CST TO be of ed
r uninteriuptedly and and from the vestment and any tempo a y re nvestment of the depos is o a y oa t
n fifty two consecutive WHEREAS bonds mafur no Decembe 1 197S an I the eafte a e redeemable p or to thereof n d reef obi gat ons of or obl gat ons ua anteed by the U led States of
matur ty at the opt on of the C ty n n e se umer cat o de o Decembe 1 1974 and on Amer ca to pay the pr no pal of and me est on the outsta d 9 ss a to be of t at
ontaining the annexed any me est paym nt date the eafter upo payme tofp a J «ued forest and the r respec We matur I es as follows
WHEREAS the C ty Counc I has dote m ned that I s e essary a d n The best n V
nexed legal notice Or terests of the C ty that the outsta d ng wale bonds descr bed abo a the a99 1965155ue e ate _
and entire editions of pr no pal amount of$2 365 000 rema n ng oulstand no be efu de I(1) n 0 de to remo a Bonds numbe ed 168 to 640 cl s mat ng the ye s 197 a d the afte shall
restr of ng a d amb g o s co e a is a u to pe m t the ss ante of future none at be pa d and ret ed at the respect a atu ty dates at IT 0 off Cc of the D ec,0 01
obl gat o water bonds add I onal ly secured by a pledge of not water re en es of Theo ty F nance n Fort Col ns Colo a o acco d no to it e o g at I ms
on a par ty f st I en bas s reg rdless of t me of ss ante a of thout sat sfact on of an Into est on the outstand ng bonds of the 1965 Iss a SI all be pa of as the same i s
earn ngs test and tt L eby to perm t the ssuance of fu it or bo Is on more advantageous accord ng to the o g nal terms of sa d bo ids unt I sa Crbo ds t e
terms w thout quest on as to the a stence of the super o pr or pledges or I ens and(2) Sect on 10 The Bank shall n est the funds on depos t n the Refund no Esc o I co
Tit a
o cc to red cc at s and forest casts and to effect other eco om es thereby n d rect obl gat ons of or obi gat ons qua anteed by the Un ted States of Arre a
each successive week pro d ng the C ty w th a dec ease n total debt equ remo is n excess of S194 685 all to shall fully secu a any cash balance $a(I accou t n th ma a eq 0 by law to
the benef t of the C ty a d is hab tants n ac o dance w th it a Cha fe and oihe t ust funds
or advertisement was WHEREAS Gene at Obi gat on Water Refund ng Bonds Se es 1974 n the amount of Sect on 11 If to any reason at any I me the funds o hand such R f u q C o
$l 935 000 ha a be n sold a d awa ded to Boettche and Comapny of Den er Colorado Account shall be nsuff c ent to meet the payments equ ed as the same shall b To
for cash at par dace ued me CST become due and payable the C iy Co C 1 Of the C ty Shat f0 ih Ili pOS I S Cn
rz{ THEREFORE BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT Refund ng Esc ow Account such ad t onaj funds as may be eq ed f fly to me-t the
spaper on the Ai__it COLLINS COLORADO amount so about to become due a dpayable
Sect on 1 That for the pu pose of prov d ng funds w th wh ch to refund and pay Sect on 12 The Bank shall f om t me to t me edeem all o a p0 t 0 of the obi oat 0 s
S2 365 000 of is 1965 Issue above descr bed the C ty of Fort Coll ns Colorado shall ssue n sa d Refund ng Escrow Account n suit c ent amou is so Mat the p oceeds the I om
l9 7 I5 General ObI gat on Water Refund ng Bonds Ser es 1974 n the pr c pal amount of and the me est thereon as the same acc ues w II be s If c e 1 to m of in I est
that the last $1 935 000 Sa d Refund ng Bond shall be dated December 1 1974 shall cons st of 387 requ rements on the outsta of ng Issue as such to est acc ues anu to pay o call a d
ent was in the re ular bonds n the denom not on of S5 000 each numbered 1 to 387 nclus a shall bea nterest redeem$a d bonds at the espect a matu I es acco ng to the sche0 le a abo e
g at the rate of 6 per annum payable on June 1 1975 and sem annually the eafter on the set fo th
1st day of June and the 1st day of December each year and shall mature sem annually Sect on 13 The Mayo Cie k and D ecto of F a CC of in C ty shall and h y
On June 1 and December) asfojlows hereby author zed a I d cc ed to tak ill cessa y 0 app op tea to to d
_- day execut on of a proper E scro Aq e I w It TIC B k co cc q if d no t
vestme is of and d st s to f f 0 5 1 R I d E c o /ccou
A unt _ PA i ty agree net s s may I c e sa y o bl to If ct at ih p o 0
d an ei dco reply lithe eq c c Isofi w
'ind that copies of $75 CIO Ju e 1 1975 Sect on 14 0 or I t it date I c it e Ref d q Bo is a 0(lei o
ice or ad,,ertisement 60 P)0 Decen ber 1 1975 reaso able I me the after the D ecto of F ance $a tno zed in Ci 1 n bl sn
transmitted b mail 75 000 000 J nel 1976 a not ccofrefu d go elm are spape publ shed niteCTV
Sr Decembe 1 1976 Sect on 15 TheC ty co ena is and ag ces that I w ll ma e o use of it p cc ds of h
ding to the accustom 100 o00 J n 1 1977 bonds author zed he e n wh ch m ght ca se such obi gat o s to be rb t aqe bon s
r 60000 December 1 1977 w th n the mean ng of Sect on 103(d)of the Inte nal Re a ue Code of 1954 as ame d d
/1 ( 100 000 June] 1978 and the Regujat ons proposed and n effect the eunder
65 000 Decembe 1 1978 Sect o 16 That f any one or mo a sect ons o pa is of in s Ord a ce shall be ad
/ IDO 000 June 1 1979 judged unenforceable o n at of such judgment shall not affect mpa or n at date The
/ 75 000 Decembe 1 1979 rema n ng p ov s ons of th s Ord nance I be g the intent on that the a ous p o sons
100000 June] 1980 her of are seve able
90 000 De emae 1 1980 of on 17 All Ord nances or pa is thereof n co if of w th th s 0 d a cc a e h eb/
ithin the County of �00� J ne 1 1981 repealed
Decembe 1 1981 Sect on 18 Afte sa d Refund g Bonds a e ssued in s O d a e Sh II be I ema
1 15 000 Ju el 1982 rrepeatable unt I sa d bonds a d the to e t thereo shall ha e b fully pa d I sf e
100 000 December 1 1982 and discharged
_ 125 000 June 1 1983 Sect on 19 By Cason to the fact th I th mu C p I bo d m ket a d the no e me
105 000 Decembe 1 1983 bond market are subject to sudden and unpred cta to ct a Cos the sa as d oft
125 000 June 1 1984 advantages afford d to the C fy by refu d 0 the ssue of o tst t d g Cc a al 001 to
120 000 December 1 1984 Wai B us u b nth 0 d a Id b d t c Ili u 0 1 m
50 000 Ju 1 1985 thus leopard z ng the ent re plan of refund ng all to the del ment of the C ty a d t
Cr� 1 25 000 Decembe 1 1985 nhab fa is t s hereby decta ed that an me ge cy a sts a d that th s O a cc S
l lama l 4z 1J/I(�1y77 necessary for th mmed ate p eservat on or p of of on of p bI c health p Coe ty o
The 1974 Refund ng Bonds shall not be redeemable p or to the r respect a matur ty safety and that th s Ord nance shall become effect ve mmed afety and shall be n m
______ ___ dates bered and recorded n the Ord nance Record authent cared by the s gna es of me
The 1974 Refund no Bonds and the nterest coupons attached thereto shall be payable Mayor and of the C ty Clerk shall be publ shed n the Colo adoan a newspape of the
n la vful money of the Un led States of Amer ca at the off cc of it e D recto of F nance C ty publ shed and of general c rculat on there n w th n 5 days after passage and suer
Fort Coll ns Colorauo publ cat on shall also be authent Gated by the s gnatures of the Mayor and C ty Cie k
------' Sect on 2 The 1974 Refund ng Bonus st all be s g ed w ih the fats m le s gnature of the INTRODUCED PRESENTED AND FINALLY PASSED THIS 12TH DAY OF
Mayo w th a fats m le of the seal of the C ty aft xed the to Itested by the man at DECEMBER 1974
Notary Public s gnature of the C ty Clerk and counters cried by the fats m le s gnatu a of the D rector
of F nance of the C ty The nterest coupons all fiche I to si I bonds shall heir the fat J W N Fead
S M gnatu a of the D rector of F nano and whon slued s Noresa d is p rt of sa d Mayor
bonds shall b the b nd ng obl Sit ons of the C ty accord nq to file r mport Should any (S E A L)
off cer whose manual or fats m le s gnature appears on sa d bonds or the Merest
-- -- ————————— Coupons attached thereto cease to be such off cer before del very of the bonds to the ATTEST
1 74 41Y1 b&m purchaser such manual or fats m le s gnature shall nevertheless be vai d and suit c ent
n for all purposes Verna Lewis
v 5 Z 2 Sect on 3 That the Refunding Bonds and the nterest coupons attached thereto shall be C ty Clerk
in substant ally the follow ng form Fort Coll ns Coloradoan 10 0 December 17 1974
18
4
°yll unS 9046 40S
e y 9 6 016 1-11 uoy S.itoff
7 9
03171®Jq ®J LOLZ
I
t I coon,
1Qzj4
1
t
�f
1i 11►.+
—f'r i1
(Formof Bond)
UNITED STATES OF AMEICA
STATE OF COLORADO COUNTY OF LAWMER
CITY OF FORT COLLINS
GENERAL OBLIGATION WATER REFUNDING BOND
SERIES 1974
No-- -- S5 000
The City of Fort Coll ns n the County of Lar mer and State of Colorado(here n the
City ) hereby acknowledges tself ndebted and prom ses to pay to the bearer hereof
the sum of
FIVE THOUSAND DOLLARS
June
on the 1st day of December 19-- w th nterest thereon at the rate of s pe cc turn(6 )per annum payable on June 1 1975 and sem annually the eafter on th 1st liy of 7
June and the"I day of December each yea at the off ce of the D ectb of F ni cc n
Fort Coll ns Colorado upon presentat on and surrende of sa a coupo s and th s Ix 0 as
they severally become due i
Bonds of th s slue are-not callable for redempt on p o to the r espect a mat ty 1
dates
Th S band s ssued by the C ty Counc I of the C ty of Fo t Coll ns Colorado t0 t'te
purpose of prov d ng funds w th wh ch to refund Gene at Obl gat 0 Haler Font s of the
C ty under It a autho ty of and n full conform ty w in the Const tut on of the�f fe of
Colorado and the Charte of sa d C ty and pursua it to an o d nance d y adopted
publ shed and made a lawof sa d C ty pr o to the ssua co of ih s bond
It S hereby cert f ed and rec fed that all the req remems of law ha a bet b y
comp]ed w th by the proper off cers of the C ty n the ssuance of ih bond that the total
debt of the C ty nclud ng that of th s bo d does not a ceed any I m t of nuettedness !
prescr bed by the Const tut on or laws of the State of Colo ado or the Cha to of the C ty `
and that prov s on has been made for the levy and collect on Of annual to es on all of the
taxable property n the C ty and the appl cat on of the net revenues of the m n c pal
waterworks system of the C ty suit c ent to pay the me est on and the pr nc pal of th s
bond when the same become due
The full fa th and creel t of the C ty of Fort Coll ns Colorado a e hereby pledoed for
the punctual payment of the pr nc pal of a d terest of th s bond
IN TESTM ONY WHEREOF the C ty Counc lot the C tyof Fo t Col ns Colo adoh s
caps d III s bond to be s gned w h the fats m le s gnature of a Mayo sea d w th a
fats r le of the seal Of the C ty attested by the man al s gnature of it e C ty Cle ,
counter gned w th the fats m le s gnature of the D rector of F nance and the nle es
coupons attached hereto to be s gned w th the fats m le s gnature of the D rector of
Finance asof the istdayofDecember 1974
(Fats m le S gnature) 1
Mayor [
(FACSIMILE SEAL) £
ATTEST
(Do Not S gn) 11
C ty Clerk y
COUNTERSIGNED
(Fats m le S gnature)
D rector of F nance
(Form of Interest Coupon)
No————— s-----
June
On the 1st day of December 19-- the C ty of Fort Coll ns n the Co my of La me
State of Colorado w 11 pay to the bearer the amount shown hereon lawful money of the r
Un led States of Amer ca at the off cc of the D rector of F a e n Fo I Coll s
Colorado be ng nterest then due on is General Dot gat on Water Refu d ng Bond
Ser es 1974 dated December 1 1974 bear ng
No-----
(Facs mule S qn lure)
(D recto off n nce)
Sect on 4 When sa d Relu d ng Bonds have bee d ly a ecut ed the D recto of
F nance s he eby d reeled to del er it a bonds to It p rct aser th cof On eCe pt 01 the
agreed p chase pr cc therefor The p oceeds of it a Ref d 9 Bo c s shall be do ly
for th purpose stated 11 re n and to pay ng the osts and a pc ses ncu eel nc tal
to the ss ante of sa d bonds a d to n0 other p pose what Ne the the p C ase of
sa d bonds nor the subsequent holder of any of them shall be espo s ble fo ne ap
pl c 1 on or d sposal by the C 1 or any of is oft cars of any of the f cis de f om
the sale tl cot
Sect o Fo the p po of pro 1 g the recessi y fun s to me I th I c
cru ng on the Refund 9 Bo s as ih same comes a d f th p of
p 0 ng f0 the payment of the sa d bo ds as If cy mat I crest 11 b e0 d11
I
he to axle property of the C ty n add 1 o to II other to es u cc a at s s f
f c ent to pay sa d me est and pr nc to I p omptl y as the same bete—le d e si d
taxes her cell cted shall be appl ed solely f0 the pu pose of the pay e Tot 1
on and th pr p i of the bo ds espect ely a d to no oche pu pose hole I I
the ndebledness so contracted uncle th s Ord nance both p c pal a d e t shall
have been fully p d sat sf eo and d scharged but noth ng he e n COnta ned shall be s0
Construed as to pre ent the C ty f om apply ng any other funus ava Table Or Comm tted
for that pu pose to the payment of sa d nterest o p nc pal as the same rest"cl ely
mature and upon such payments the lev es here n p o d may the a poi to that
extent be(,m n sh d The sums p oduced by the Ie es here r it)o e p o ced to meet the
me est 0 the Refund no ea ds a d to d scha 0 It e p p I I eof wh ue a e
h coy aop eel for Ihat( p0 d d Sa a in t sh I tT I ix Inca Lal OU t
re o1w d n0 The i ov o or a K .r d pt f , by IT, r,if,
e yea SUcn %. C' A ter C -4 )U S V
nd c wt a y of foe Ref n, q BO-Ni M r %,)It 0, r" to p po
NOTICE OF REFUNDING
of
CITY OF FORT COLLINS LAPIMER COUNTY COLOP.ADO
GENERAL OBLIGATION17ATER BONDS , SFRIES JUNE 1 1965
PUBLIC NOTICE IS HEREBY LIVEN That General Obligation
Water Bonds , Series June 1, 1965 dated June 1, 1965 , of the
City of Fort Collins , Larimer County Colorado in the aggre-
gate amount of $2 ,365 , 000, have been refunded by action of
the City Council of the City, and that all outstanding bonds
of said Issue being bonds numbered 168 to 640, inclusive,
maturing in the years 1975 and thereafter, and the interest
thereon, shall be paid and retired at their respective ma-
turity dates , at the office of the Director of Finance, in
Fort Collins Colorado according to their original terms
THIS NOTICE GIVEN by order of the City Council of the
City of Fort Collins , Larimer County, Colorado as of this
12th day of December, 1974
/s/ Charlie D Cain
Director of Finance
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(Insert Affidavit of Publication of Notice of Prior Redemption )
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STATE OF COLORADO )
ss
CITY AND COUNTY OF DENVER )
CERTIFIED PUBLIC ACCOUNTANT' S VERIFICATIOA
The undersigned, , of Peat, Mar-
wick, Mitchell & Co , of Denver, Colorado hereby certifies
as follows
1 That PEAT, MARWICK, MITCHELL & CO is a partnership
and firm of Certified Public Accountants, duly authorized
and acting as such under and pursuant to the laws of the
State of Colorado, and that he is a partner in said firm
2 That under date of in a letter
addressed to Boettcher and Company, of Denver, Colorado, a
copy of which is hereto attached as part of Exhibit "A" ,
said firm has reported on its review of calculations of the
proposed escrow fund transactions involving the presently
outstanding General Obligation Water Bonds , Series June 1
1965 dated June 1, 1965, of the City of Fort Collins,
Larimer County Colorado
3 That schedules of the calculations and the assump-
tions under which such calculations were made were included
with the above letter and are also attached hereto as a
further part of Exhibit "A"
4 That, as stated in the above letter, "We believe
the calculations as to transactions in the proposed refund-
ing escrow account are correct based upon information as to
principal amounts of obligations of or guaranteed by the
United States Government interest rates and payment dates
shown on the schedule of proposed escrow fund transactions "
5 As indicated by the calculations in the schedule of
escrow fund transactions , which are based upon the assump-
tions and recitals in the above letter cash balances in the
escrow fund would be equal to or more than the required
disbursements on the various disbursement dates
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a
6 That in the execution of this Certificate he is
duly authorized and acting for and on behalf of the firm of
Peat, Marwick, Mitchell & Co
IN WITNESS WHEREOF, he has caused this Certificate to
be signed this day of , 197_
of PEAT, MARWICK, MITCHELL & CO
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x
EXHIBIT "A"
(Attach letter dated as referred to
above, Schedule of Escrow Transactions and Schedule of Bond
Requirements )
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