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Home My WebLink About007 - 01/21/1901 - RELATING TO REFUNDING WATER BONDS 1 --- -•�- ORODEANCE NO 7�m 1801 Relating to Rein water HoM �, bs► s 0* {�, �• of the town Of Port Oollins, Passed and adopted on November 70 18899 an indebtedness Of Eighty-five thousand (859000) dollars Was created for the purpAee of d- constructing a system of Water Works for said tow evidenoe by the issue of Eighty-five bonds for One thousand (1000) dollars eachp and -------------- _0"AA bit an__Dsdiaaaee. of the City of Port 00111n8, Passed and adopted on the 88" dwr of 1OW9 1888, an additional indebtedness of twenty thousand (809000) dollars Was created for the purpose of completing the construction of said Plater Works, w2tich was evIdweed by twenty bonds of the sum of One thowand (1000) dollars eaoh, and -------------- were duly reftded by an Ordinance of the City of Part Coliins, duly passed and adopted on the 4" day of Novem- ber, 18869 by providing for the iesuanoe in lieu thereof of the Refunding Water Bonds of said City amounting to One hundred and five thousand ( 105,000) dollars, being one hundred and five bonds tar tits 4= of One thousand (1000) dollars eaoh under the provisions of the Act of the tenth General Assembly herein after mentioned, and --------f-----&h a sawlfti _ are all redeemmbie according I to the provisions of said Ordinance at the option of the City of Fort Collins, and, --------------- of the Tenth General Assembly of Colorado approved March 250 188b, entitled "An Act to enable tcvns and Cities to refund their bonded indebtbtednesa, oontraoted for the supply of water, and i to repeal all other aots relating thereto, Tit is provided that towns and Cities having oreated an indebtedness and issued bonds for building Water Works, may refuMd and extend said borAs and 1ndebtedaese not to exceed thirty (30) years, and that aiw bonds issuO under the provisions of this Act may be refunded, by the issue of bonds which shall be payable within a period of thirty (30) years from the time of the issue of the bonds so refunded therefore Be it oftalued by the City Council of the City of Fort Collins. gooeae000vavvvvaao00gOq000e0000NO00�MOQ011O00d�Odd90dddO0000qqe B jT. 4 L TM the ReAMding Tatez V* Bonds of the City of Fort Collide, for One hundred and five thousand (1059 000) dolly", and the In- debtedness vhioh they swidence, daW Mated by Ordinances of Bald! City passed in 1882, 1888 and 18859 be refunded and extended, and a new set of One hundred and five (108) bands be issued to take the plane of the old bondeq each of said bonds being fft the s= of One th meand (1000) dollars, and to be called eRefunding hater BondeO the proceeds of Which shall only be used for the purpose of redeenjW said prior issue of bonds 9ECT j^�Me said bonds shad state on the two thereot the title i of this GrAinane, and the title of the Act of the Geaml Assembly of the State of Colorado, under and 10 Dursln 00 of Whloh they are issued and they shall be e3gned by the Mayor and the City Clerk, affi duly attested WIWI the corporate seal of said Olty. SEC 0 9 The said bonds shall bear Hate May 99 10019 and shall bear Interest at the rate of four per cent per anmo, payable semi-anunally, the first interest being payable = the Forth day of November 18019 and thereafter said 1nteTest being Payable upon the Fourth day of May and Pourth day of November of each year, Which interest shall be evidenced by interest coupons attaohed to Bald bonds, and daly signed I by the Mayor and City Clerk, and said bonds shall Rot be sold for less than their face value and accrued interest. sECT, Tj_0N Ar,---- The prinoipal and Interest of said bolds shall be payable at the Office of the City TreawtvT of the City of Fort Collins, State of Colorado In gold acing or at the Peaking house of The First National Batik of Fort 00111ns, Colarado, the principal of said bondP shall be redeemable at the pleaswe of the City Council OR or eftear the rourth day of May *, but shall be absolutely due and payable on the Fourth day of May At arW time after the Fourth day of May � the City Counoil of the Oity of Fort Collins, may at their discretion call r In from date to time, as many of said bonds as they may wish to redeem, by a notice painted in some Newspaper published in said Oita, stating that certain bonds designated by their s#� will be paid on presenta- tion at the Office of the City Tress Or. on 6 certain day, not more than thirty (80) days Prom the date of first publication, of t1le notioe, after which date interest on such bonds so Galled shall aease, said bonds shall be redeemed in consecutive order beginning with MMV6 one of the series, until the whole number of One hundred and five (105) bou3Hs are fully pe1d, brit the 01tq 00=011 m&V IR their dlsoretUm and w1th the consent of the holders apply MW mo8ey In the Treasury appllaable to suoh use to the Purchase for eald Qity, suoh of said bonds as can be papohasad byre the said Fourth day of Mw A.D. Iq I I . and whlolt shall there xwon to tMed- lately eanoelled. `�"�' — 15 " AMR127 her'8&nGT, sD 20M as eabr of the aforesaid bonds shall be outstanding and unpaid, there shall be ISVIOd upon the taxable Property Of the City of Fort 00111As, a tax suf'flolent in amount to pay i the aooruing interest unless such Interest shall be pale from the revenues received from the Water Works of said 01ty os ftom other sources, and in the year �, and e�11y thereafter so long as arty of the aforesaid bonds, shall be oatetending and unpaid, there 11NOWise shall be levied a tax upon all the taxable propqty of said Oity, suffioient in amount i + to pelt/ On^part of the prind'ipal of said bomde or so much thereof as may R 74 be neoessary unless the one -,/_ � - part be paid from the revannes derived from the Water Works, which said taxes shall be levied and oolleated as other City tares ere, but the duty Tte881UgV dttall keep a ate a000unt thereof, so that the proceeds of suou taxes shall be exalueively used and paid in liquidation of the interest and Principal oP said bonds, in the i manner and at the time and Vmaom as provided In said bonds, and the pro- visions of this Ordinance, until said indebtedness shall have been fully paid and discharged SNQTZON do --- The revenues derived from the Water Works of said City shall be used and applied only for the payment of the legs- gate expenses and snPPort of the Water Works, `6d of the Prinalpal and interest of the bonds aforesaid, until said bonds are fully paid. SNOT ON 7 --- This Ordiaanoe or any part of it shall be irrepealable until the indebtedness herein provIdso for shall have been fully paid Passed and adopted, da=SPV M0 A b 1801 �i i i i