Loading...
HomeMy WebLinkAbout159 - 11/20/1984 - AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION WATER BONDS, SERIES 1984, DATED NOVEMBER 1, 1984, IN CERTIFIED RECORD OF PROCEEDINGS OF THE COUNCIL OF THE CITY OF FORT COLLINS , COLORADO RELATING TO AN ORDINANCE AUTHORIZING THE ISSUANCE OF ITS GENERAL OBLIGATION WATER BONDS SERIES 1984 DATED NOVEMBER 1 , 1984 IN THE AGGREGATE PRINCIPAL AMOUNT OF $7, 750 , 000 Odd i f STATE OF COLORADO ) COUNTY OF LARIMER ) ss. CITY OF FORT COLLINS ) The Council of the City of Fort Collins , Colorado , reconvened its adjourned regular meeting of October 16, 1984, at Council Chambers , City -Hall, 300._.LaPo.rte Avenue , Fort Collins , Colorado , on Tuesday, the 30th day of October , 1984 , at the hour of 5 : 30 p.m. _ The following persons were present-: Council tlembergj: -- _----CL-rald._C.__.Borak, Mayor E. John Clarke, Assistant Mayor _ William_E1.l.iott John B. Knezovich __Kelly Ohlson Barbara Rutstein Ed_Sto__er_ - City Manager : _-__John__E_._Arnold City Clerk : Wanda M . Krajicek The following persons were absent : None Council Member Ohl son 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. 159 , 1984 AN ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF FORT COLLINS , COLORADO, GENERAL OBLIGATION WATER BONDS , SERIES 1984 , DATED NOVEMBER 1 , 1984, IN THE AGGREGATE PRINCIPAL AMOUNT OF $7, 750 , 000, FOR THE PURPOSE OF PROVIDING IMPROVEMENTS TO THE EXISTING WATER SYSTEM OF THE CITY; AND PROVIDING FOR THE LEVY OF AN AD VALOREM TAX AND FOR THE PLEDGE OF THE NET REVENUES DERIVED FROM THE OPERATION OF THE WATER SYSTEM' TO PAY THE PRINCIPAL OF AND INTEREST ON SAID BONDS . WHEREAS , there is a need for the City of Fort Collins , Colorado (the City) , to provide improvements (the Improvements) to the existing water system (the Water System) of the City in order to supply water to the City and the inhabitants thereof; and WHEREAS , pursuant to Colorado Constitution art. XI , sec. 6, and Art. V, Section 20. 2 of the Charter of the City, the Council (the Council) of the City has determined, and does hereby determine , to issue at this time its general obligation water bonds in the aggregate principal amount of $7, 750, 000 for the purpose of providing P the Improvements to the Water System in order to supply water to the City and the inhabitants thereof; and WHEREAS, the City has heretofore mailed Official Notice of Bond Sale with respect to the City of Fort Collins , Colorado, General Obligation Water Bonds , Series 1984 , dated November 1 , 1984, in the aggregate principal amount of $7, 750, 000 (the Bonds) ; and WHEREAS , sealed bids for the Bonds were received and opened by the City Finance Director on October 30, 1984 , and it was determined that Northern Trust Company, Chicago , Illinois (the Purchaser) , was the lowest and best bidder therefor ; and WHEREAS , it is now necessary that the Council award the sale of the Bonds to the Purchaser and authorize the issuance of the Bonds in conformity with the Purchaser ' s bid. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS , COLORADO, AS FOLLOWS : 1. Award of Contract . The contract for the purchase of the Bonds is hereby awarded to the Purchaser at the price specified in the Purchaser ' s bid and upon the terms set forth in this ordinance (the Ordinance) . -2- 2. Authorization and Description of Bonds. For the purpose of providing the Improvements to the Water System in order to supply water to the City and the inhabitants thereof , together with----all - necessary_— incidental and appurtenant properties , facil-ities , equipment and costs , pursuant to Colorado Constitution art. XI , sec . 6, and Art. V, Section 20. 2 of the Charter of the City, the City shall issue the Bonds. The Bonds shall be issued in fully registered form in denominations of $5, 000 or any integral multiple thereof, provided that no Bond shall be issued in any denomination larger than the aggregate principal amount maturing on the maturity date of such Bond. Pursuant to the recommendations of the Committee on Uniform Security Identification Procedures , CUSIP numbers may be printed on the Bonds. The Bonds shall mature on December 1 in each of the following years and principal amounts and shall bear per annum interest from November 1, 1984, or the interest payment date to which interest has been paid next preceding their respective dates, whichever is later , to their respective maturity dates , except if redeemed prior thereto, at the following interest rates : Principal Per Annum Years Amounts Interest Rate 1988 $130, 000 7. 50% 1989 135, 000 7. 75 1990 145, 000 8. 00 1991 155, 000 8 . 25 1992 170, 000 8. 50 1993 180, 000 8. 70 1994 195, 000 8. 90 1995 215, 000 9. 10 1996 235, 000 9. 25 2004 2, 880, 000 10. 00 2009- 3, 310, 000 10. 00 Said interest shall be payable on June 1 , 1985, and semiannually thereafter on the lst day of December and the 1st day of June of each year . If upon presentation at maturity the principal of any Bond is not paid as provided herein, interest shall continue thereon at the same interest rate until the principal is paid in full. 3. Maximum Net Effective Interest Rate. The maximum net effective interest rate for the Bonds is 15% per annum. The actual net effective interest rate for the Bonds is 9. 99978% per annum. -3- 4. Nature of Obligation. The Bonds shall be general obligations of the City and shall be payable from general ad valorem taxes and water revenues as provided herein. 5. Pavment of Principal , Interest and Premium. The principal of , interest on , and any premium due in connection with the redemption of the Bonds shall be payable in lawful money of the United States of America to the registered owners of the Bonds by the Finance Director of the Citv, who is hereby designated the paying agent for the Bonds. The principal and the final interest shall be payable to the registered owner of each Bond upon presentation and surrender thereof at maturity or upon prior redemption. Except as heretofore and hereinafter provided , the interest shall be payable to the registered owner of each Bond determined as of the close of business on the regular record date, which shall be the fifteenth (15th) day of the calendar month next preceding the interest payment date , irrespective of any transfer of ownership of the Bond subsequent to the regular record date and prior to such interest payment date , 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 , who is hereby designated the registrar for the Bonds. Any interest not paid when due and any interest accruing after maturity shall be payable to the registered owner of each Bond entitled to receive such interest 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 certified or reqistered first-class postage prepaid mail, at least ten (10) days prior to the special record date , to the Purchaser and to the registered owner of each 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. Any premium shall be payable to the registered owner of each Bond upon presentation and surrender thereof upon prior redemption. If the paying agent or registrar initially appointed hereunder shall resign , or if the City shall reasonably determine that said paying agent or registrar has become incapable of fulfilling his or her duties hereunder , the City may, upon notice mailed to each registered owner of bonds at the address last shown on the registration books , appoint a successor paying agent or registrar , or both. Every such successor paying agent or registrar 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 -4- paying agent _a_ nd_ registrar___hereunder , but the City shall have the right to have the same institution serve as both paying agent and registrar hereunder. 6. Redemption of Bonds . Bonds maturing in the wears 1995, 1996 , 2004 and 2009 shall be subject to optional redemption prior to their respective maturity dates , in whole or in part , in inverse order of maturity and by lot within a maturity, on December 1, 1994, and on any interest payment date thereafter , at a price equal to the principal amount of each Bond so redeemed plus accrued interest thereon to the redemption date plus a premium expressed. as a percentage of the principal amount of each Bond so redeemed , depending on the redemption date, as follows : Redemption Date Premium December 1 , 1994 and June 1, 1995 2. 5% December 1 , 1995 and June 1, 1996 2. 0% December 1 , 1996 and June 1 , 1997 1. 5% December 1 , 1997 and June 1 , 1998 1. 0% December 1 , 1998 and June 1 , 1999 0. 50 December 1 , 1999 and Thereafter None Bonds maturing in the year 2004 shall also be subject to mandatory sinking fund redemption prior to their maturity date , by lot , on the dates specified below at a price equal to the principal amount of each Bond so redeemed plus accrued interest thereon to the redemption date. Such Bonds shall be redeemed on December 1 in each of the following years in each of the following aggregate principal amounts : Years Principal Amounts 19-97 $255, 000 _ 1998 280, 000 1999 305, 000 2000 335, 000 2001 365., 000 2002 405, 000 2003 445, 000 2004 490, 000 Bonds maturing in the year 2009 shall also be subject to mandatory sinking fund redemption prior to their maturity date , by lot , on the dates specified below at a price equal to the principal amount of each Bond so redeemed plus accrued interest thereon to the redemption date. Such Bonds shall be redeemed on December 1 in each of the following years in each of the following aggregate principal amounts: -5- Years Principal Amounts 2005 $540, 000 2006 595, 000 2007 655, 000 2008 720, 000 2009 800, 000 The Bonds shall also be subject to extraordinary redemption prior to their respective maturity dates if the City determines that there is no longer a need for all or a portion of the Improvements to the water System and if the City has sufficient funds available to effect such redemption, in whole or in part by calling as nearly as practicable a pro rata share of the Bonds due on each maturity date by lot within such maturity, on December 1, 1987, at a price equal to the principal amount of each Bond so redeemed plus accrued interest thereon to the redemption date. In the case of an extraordinary redemption in part , the amounts of the mandatory sinking fund installments due with respect to Bonds maturing in the years 2004 and 2009 shall be reduced as nearly as practicable on a pro rata basis. Bonds issued in denominations which are integral multiples of $5, 000 may be redeemed in part. Such Bonds shall be treated as representing a correspondinq number of separate Bonds in the denomination of $5, 000 each. Any such Bond to be redeemed in part shall be surrendered for partial redemption in the manner hereinafter provided for transfers of ownership. Upon payment of the redemption price of any such Bond redeemed in part the registered owner thereof shall receive a new Bond or Bonds of authorized denominations in aggregate principal amount equal to the unredeemed portion of the Bond surrendered. Notice of redemption shall be given by the Finance Director of the City in the name of the City by sending a copy thereof by certified or registered first-class postage prepaid mail, at least thirty (30) days prior to the redemption date, to the Purchaser and to the registered owner of each of the Bonds being redeemed determined as of the close of business on the date preceding the first mailing of such notice , at the address appearing on the registration books of the City. Such notice shall specify the number or numbers of the Bonds to be redeemed , whether in whole or in part, and the date fixed for redemption and shall further state that on the redemption date there will be due and payable upon each Bond or part thereof so to be redeemed the principal amount or part thereof plus accrued interest thereon to the redemption date plus any premium due, and that from and after such date interest will cease to accrue . Failure to mail any notice as aforesaid or any defect in any notice so mailed with respect to any Bond shall not affect the validity of the redemption proceedings with respect to any other Bond. Any Bonds redeemed prior to their respective maturity dates by call for prior redemption or otherwise shall -6- not be reissued and shall be cancelled the as Bonds paid at or after maturity. 7. Execution of Bonds. The Bonds shall .be executed by and on behalf of the City with the facsimile signature of the Mayor , shall bear a facsimile of the seal of the City, shall be attested with the facsimile signature of the City Clerk , and shall be countersigned with the manual signature of the Finance Director of the City. Should any officer whose facsimile or manual signature appears on the Bonds cease to be such officer before issuance and delivery of any Bond, such facsimile or manual 'signature shall- -nevertheless be_ valid and sufficient for all purposes. 8. Registration Transfer and Exchanq-e of Bonds. Upon their execution and prior to their delivery the Bonds shall be registered for the purpose of payment of principal and interest in the office of the City Clerk , who is hereby designated as the transfer agent for the Bonds. Thereafter , the Bonds shall be transferable only upon the registration books of the City at the office of the City Clerk at the request of the registered owner thereof or 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. A Bond may be transferred upon surrender thereof 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 the beneficiary 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 or transfer of any Bond shall be effective until entered on the registration books of the City maintained by the City Clerk . The City Clerk shall deliver to the new registered owner a new Bond or Bonds of the same aggregate principal amount , maturing in the same year , and bearing interest at the same per annum rate as the Bond or Bonds surrendered. Such Bond or Bonds shall be dated as of their date of execution by the Finance Director of the City. The City Clerk shall not be required to transfer ownership of any Bond during the fifteen (15) days prior to the first mailing of any notice of redemption or to transfer ownership of any Bond selected for redemption on or after the date of such mailing. The registered owner of any Bond or Bonds may also exchange such Bond or Bonds for another Bond or Bonds of authorized denominations . New Bonds delivered upon any transfer or exchange shall be valid obligations of the City, evidencing the -7- same debt as the Bonds surrendered, shall be secured by this Ordinance , and shall be entitled to all of the security and benefits hereof to the same extent as the Bonds surrendered. The City may deem and treat the person in whose name any 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 such 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. 9. Lost Bonds. If any 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. 10. Form of Bonds. The Bonds shall be in substantially the following form: -8- (Form of Bond] (Text of Face) UNITED- STATES OF` AMERICA` STATE OF COLORADO COUNTY OF LARIMER CITY OF FORT COLLINS GENERAL OBLIGATION WATER BOND SERIES 1984 No. R- $ Interest Maturity Original Rate Date Date CUSIP December 1, November 1 , 1984 REGISTERED OWNER: PRINCIPAL SUM : The City of Fort Collins , in the County of Larimer and State of Colorado, for value received , hereby acknowledges itself indebted and promises to pay to the Registered Owner (specified above) , or registered assigns , the Principal Sum (specified above) , in lawful money of the United States of America , on the Maturity Date (specified above) , with interest thereon from November 1 , 1984, or the interest payment date to which interest has been paid next preceding the date hereof , whichever is later , to the Maturity Date, except if redeemed prior thereto, at the per annum Interest Rate (specified above) , payable semiannually on the lst day of June and the lst day of December of each year , commencing on June 1 , 1985 , or the first such date after the date hereof , whichever is later , in the manner provided herein . If upon presentation at maturity payment of the Principal Sum of this Bond is not made as provided herein, interest shall continue at the Interest Rate until the Principal Sum is paid in full. REFERENCE IS HEREBY 24ADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF. The full faith and credit of the City of Fort Collins, in the County of Larimer and State of Colorado, is hereby pledged -9- i for the punctual payment of the principal of and interest on this Bond. IN WITNESS WHEREOF, the City Council of the City of Fort Collins , Colorado, has caused this Bond to be executed in its name and on its behalf with the facsimile signature of the Mayor of the City, to be sealed with a facsimile seal of the City, to be attested with the facsimile signature of the City Clerk of the City, and to be countersigned with the manual signature of the Finance Director of the City. CITY OF FORT COLLINS , COLORADO (FACSIMILE) By: (Facsimile Signature) ( SEAL ) Mayor ATTEST: (Facsimile Siqnature) City Clerk Countersigned : (Manual Signature) Finance Director DATED: ABBREVIATIONS The following abbreviations , when used in the inscription on the face of this Bond , shall be construed as though they were written out in full according to applicable laws or regulations. TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with the right of survivorship and not as tenants in common UNIF GIFT MIN ACT - Custodian Cust) Minor under Uniform Gift to Minors Act (State) Additional abbreviations may also be used though not on the above list. -10- (Text of Reverse Bonds of this issue maturing in the years 1995, 1996, 2004, and 2009 are subject to optional redemption prior to their respective maturity dates , in whole or in part , in inverse order of maturity and by lot within a maturity, on December 1, 1994, and on any interest payment date thereafter , at a price equal to the principal amount of each Bond so redeemed plus accrued interest thereon to the redemption date plus a premium expressed as a percentage of the principal amount of each Bond so redeemed , depending on the redemption date , as follows : Redemption Date Premium December 1 , 1994 and June 1 , 1995 2. 5% December 1 , 1995 and June 1, 1996 2. 0% December 1 , 1996 and June 1 , 1997 1. 50 December 1 , 1997 and June 1 , 1998 1. 0% December 1 , 1998 and June 1 , 1999 0. 50 December_ l,1999 and Thereafter None Bonds of this issue maturing in the year 2004 are also subject to mandatory sinking fund redemption prior to their maturity date, by lot , on the dates specified below at a price equal to the principal amount of each Bond so redeemed plus accrued interest thereon to the redemption date. Such Bonds are to be redeemed on December 1 in each of the following years in each of the following aggregate principal amounts : Years Principal Amounts 1997 $255 , 000 1998 280 , 000 1999 305 , 000 2000 335 , 000 2001 365 , 000 2002 405 , 000 2003 445 , 000 2004 490, 000 Bonds of this issue maturing in the year 2009 are also subject to mandatory sinking fund redemption prior to their maturity date, by lot , on the dates specified below at a price equal to the principal amount of each Bond so redeemed plus accrued interest thereon to the redemption date. Such Bonds are to be redeemed on December 1 in each of the following years in each of the following aggregate principal amounts : -11- Years Principal Amounts 2005 $540, 000 2006 595, 000 2007 655 , 000 2008 720, 000 2009 800, 000 The Bonds of this issue are also subject to extraordinary redemption prior to their respective maturity dates if the City determines that there is no longer a need for all or a portion of the financed facilities and if the City has sufficient funds available to effect such redemption , in whole or in part by calling as nearly as practicable a pro rata share of the Bonds due on each maturity date by lot within such maturity, on December 1 , 1987, at a price equal to the principal amount of each Bond so redeemed plus accrued interest thereon to the redemption date. In the case of an extraordinary redemption in part , the amounts of the mandatory sinking fund installments due with respect to Bonds maturing in the years 2004 and 2009 are to be reduced as nearly as practicable on a pro rata basis. This Bond may be redeemed in part if issued in a denomination which is an integral multiple of $5, 000. In such case this Bond shall be surrendered in the manner provided for transfer of ownership. Upon payment of the redemption price the Registered Owner shall receive a new Bond or Bonds of authorized denominations in aggregate principal amount equal to the unredeemed portion of this Bond. The principal of, interest on, and any premium due in connection with the redemption of this Bond are payable to the Registered Owner by the Finance Director of the City, as paying agent. The principal and the final interest are payable to the Registered Owner upon presentation and surrender of this Bond at maturity or upon prior redemption. Except as heretofore or hereinafter provided , the interest is payable to the Registered Owner determined as of the close of business on the regular record date , which shall be the fifteenth (15th) day of the calendar month next preceding the interest payment date, irrespective of any transfer of ownership hereof subsequent to the regular record date and prior to such interest payment date, by check or draft mailed to the Registered Owner at the address appearing on the registration books of the City. Any interest hereon not paid when due and any interest hereon accruing after maturity is payable to the Registered Owner 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 this 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 -12- certified or registered first-class postage prepaid mail, at east ten---CID) days prior to the - special record date, to Northern Trust Company, Chicago, Illinois , and to the registered owner of each 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. Any premium is payable to the Registered Owner upon presentation and surrender of this Bond upon prior redemption. Notice of redemption of any Bonds shall be given by the Finance Director of the City in the name -of the City by sending a; copy of such notice by certified. or registered first-class postage prepaid mail , at least thirty ( 30) days prior to the redemption date , to Northern Trust Company, Chicago, Illinois, and to the registered owner of each of the. Bonds being redeemed , determined_ as of the close of business on the day preceding the first mailing of such notice, at the address appearing on the registration books of the City. Such notice shall specify the number or numbers of the Bonds to be redeemed , whether in whole or in part , and the date fixed for redemption and shall further state that on .the redemption date -there will be due and payable upon each Bond or part thereof so to be redeemed the principal amount or part thereof plus accrued interest thereon to the redemption date plus any premium due, and that from and after such date interest will cease to accrue. Failure to mail any notice as aforesaid or any defect in any notice so mailed with respect to any` Bond shall not affect the validity of the redemption proceedings with respect to any other Bond. This Bond is one of a series issued by the City Council of the City of Fort Collins, Colorado , for the purpose of providing improvements to the existng water system of the City in order to supply water to the City and the inhabitants thereof , together with all necessary incidental and appurtenant properties , facilities , equipment and costs , by virtue of and in full conformity with the Constitution of the State of Colorado , the Charter of the City, and all other laws of the State of Colorado thereunto enabling , and pursuant to an ordinance of the City duly adopted and made a law of the City prior to the issuance of this Bond; and it is hereby recited , certified and warranted that all the requirements of law have been fully complied with by the proper officers of the City in issuing this Bond. It is further hereby recited , certified and warranted that the total indebtedness of the City, including that of this Bond , does not _ exceed any constitutional , charter or statutory limitation of the State of Colorado or of the City; that provision has been made for the levy and collection of a direct annual tax on all the taxable property within the City and for the pledge of net revenues derived from the operation of the water system of the City sufficient to pay the principal of and interest on this Bond as the same respectively become due; and that this Bond constitutes a first (but not necessarily exclusive) lien on said net revenues. -13- Reference is hereby made to the ordinance of the City authorizing the issuance of this Bond, and to any and all modifications thereof and amendments thereto , for a description of the provisions , terms and conditions upon which this Bond is issued and secured, including , without limitation, definition of terms used herein the nature and extent of the security for this Bond , provisions with respect to the application of the proceeds of this Bond, the rights , duties and obligations of the City and the members of its Council, and the rights of the Registered Owner. This Bond is transferable only upon the registration books of the City at the office of the City Clerk or a successor registrar , at the request of the Registered Owner or 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 securitynumber 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 beneficiary 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 or transfer of this Bond shall be effective until entered on the registration books of the City. The City Clerk shall deliver to the new registered owner a new Bond or Bonds of the same aggregate principal amount , maturing in the same year , and bearing interest at the same per annum rate as the Bond or Bonds surrendered. Such Bond shall be dated its date of execution by the Finance Director of the City. The City Clerk shall not be required to transfer ownership of this Bond during the fifteen (15) days prior to the first mailing of any notice of redemption or to transfer ownership of any Bond selected for redemption on or after the date of such mailing. The Registered Owner may also exchange this Bond for another Bond or Bonds of authorized denominations. The City may deem and treat 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. -14- • (Assignment) 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 Assiqnee) the attached Bond and does hereby irrevocably constitute and appoint , or its successor , 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 face of the attached Bond in every particular without alteration or enlargement or any change whatever . (End of Form of Bond] -15- 11. Disposition of Bonds and Proceeds. The Bonds, when executed as provided herein, shall be delivered by any one of the officers of the City to the Purchaser upon receipt of full payment therefor in accordance with the contract of purchase therefor. Upon receipt of the proceeds of the Bonds the City shall deposit in the Water Fund of the City (the Water Fund) interest accrued on the Bonds from the date thereof to the delivery date thereof . Said sum shall be held in the Water Fund and applied to the payment of interest first due on the Bonds . The original proceeds of the Bonds , exclusive of accrued interest , shall be deposited in the Capital Projects Fund of the Cityand used to a the costs of issuing the Bonds to a pay 9 . pay interest accruing on the Bonds throuqh December 1 , 1987, and to pay the costs of providing the Improvements to the Water System, and for no other purposes , provided , however , that any portion of the bond proceeds may be temporarily invested pending such use , with such temporary investment to be made consistent with the covenant hereinafter made concerning arbitrage bonds. Neither the Purchaser nor the owner of any of the Bonds shall be in any way responsible for the application of the proceeds of the Bonds by the City or any of its officers. 12. Ad Valorem Taxes. If required, the interest to become due on the Bonds in 1985 shall be advanced from any revenues or funds of the City lawfully available therefor. For the purpose of reimbursing any such advance and also for the purpose of paying the interest on and principal of the Bonds as the same become due and payable the Council shall annually fix and certifya rate of levy for ad valorem taxes to the Board Y of County Commissioners of Larimer County, Colorado, which taxes , in addition to all other such taxes , when levied on all of the taxable property in the City, in each of the years 1985 to 2008 , inclusive, will raise ad valorem tax revenues sufficient to make such reimbursement and to meet promptly and make such Bond principal and interest payments as the same become due. In the event any of said levies shall fail to Produce an amount sufficient to pay the interest on and the principal of the Bonds becoming due in the next succeeding year , the deficit shall be made up in the next levy, and taxes shall continue to be levied until the Bonds and the interest thereon shall be paid in full. All such taxes , when collected, shall be deposited in the Water Fund. 13. Water Revenues . By Ordinance No. 64, 1974 , Ordinance No. 109 , 1977, and Ordinance No. 136, 1982 , respectively, the Council has authorized the issuance by the City of its General Obligation Water Refunding Bonds , Series 1974 , dated December 1, 1974 , in the original aggregate principal amount of $1, 935, 000 , its General Obligation Water Bonds , Series 1977, dated -16- - October 1, 1977, in the original aggregate principal amount of - - - $5, 000, 000--and its Gener-al Obligation Waa ter Bonds , Series 1982; dated December 1 , 1982, in the original aggregate principal amount of $4, 100 , 000- (collectively, the Prior Bonds) . In addition to the provision for a tax levy for the payment of the Prior Bonds, said ordinances provide for a pledge of the net revenues of the Water System for the payment of the principal of and interest on the Prior Bonds.- Similarly,-- the City hereby irrevocably pledges to pay the principal of and the interest on the Bonds from the net revenues of the Water System. The City hereby reserves the right to secure, without restriction, any water bonds and water refunding bonds of the City hereafter issued equally and ratably with the Prior Bonds and the Bonds. The City also hereby commits itself to fix and annually to maintain rates , fees, tolls , and charges for water and services furnished by the Water System which, together with other moneys legally available therefor , will be sufficient to pay operation and maintenance expenses of the Water System and the principal of and interest on all bonds and other obligations of the City pertaining to the Water System, as they respectively become due , and for the other payments required by Art. IX , Section 6 of the Charter of the City. All such water revenues , when collected , shall be deposited in the Water Fund. The term "net "revenues as used herein refers r to the gross revenues of the Water System after the payment of operation and maintenance expenses. The term "operation and maintenance expenses" as used herein means all current reasonable and necessary expenses of operating , maintaining and repairing the Water _ System, but does not include any allowance for depreciation or capital replacements and improvements. _ _ The term "Water System" as used hereinincludes not only the property comprising the Water System of the City at the present time , but all additions and betterments thereto and improvements and extensions thereto which may hereafter be acquired, constructed or installed by the City. 14. Payment of Principal and Interest. From any moneys on deposit in the Water Fund or , if required, from any other unrestricted fund of the City, the City shall pay each maturing installment of interest on and principal of the Bonds and any other obligations issued and payable from the Water Fund until the Bonds , both principal and interest , shall be fully paid, satisfied and discharged. Nothing herein contained shall be so construed as to prevent the City from committing and applying any other funds or revenues that may now or hereafter be in the possession of the City and legally available for the purpose of payment of the interest on or the principal of the Bonds. The Water Fund shall be maintained as a sinking fund for the mandatory redemption of Bonds maturing in the years 2004 and 2009. Any mandatory sinking fund redemption shall be treated as a maturity for purposes of this Section 14. -17- 15. Arbitrage Covenant. The City covenants that it will make no investment or other use of the proceeds of the Bonds at any time during the term thereof which, if such investment or other use had been reasonably expected on the date the Bonds are issued , would have caused the Bonds to be arbitrage bonds within the meaning of Section 103 (c) of the Internal Revenue Code of 1954 , as amended, and the regulations promulgated thereunder by the United States Treasury Department. 16. Other Covenants . The City additionally covenants that so long as any of the Bonds remain outstanding and unpaid : (a) It will continue to operate and manage the Water 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 all or any part of the Water System in any manner or to any extent as might reduce the security provided for the payment of the 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 Water System. (c) The rates , fees , tolls and charges for all services rendered by the Water System to the City and to its inhabitants and to all consumers within or without the boundaries of the City shall be reasonable and just , taking into account and consideration the cost and value of the Water System and the proper and necessary allowance for the depreciation thereof and the amounts necessary for the retirement of all bonds and other securities or obligations payable from the revenues of the Water System and the interest thereon. (d) There shall be charged against all purchasers of service such rates , fees , tolls , and charges as shall be adequate to meet the requirements of this Ordinance. (e) The City shall cause all rates , fees , tolls and charges appertaining to the Water System to be collected as soon as reasonable , shall prescribe and enforce rules and regulations for the payment thereof and for the connection with and the disconnection from properties of the Water System, and shall provide methods of collection and penalties , includinq but not limited to denial of service for non-payment of such rates , fees , tolls and charges to the end that net revenues of the Water System shall be adequate to meet the requirements hereof. (f) At regular periods each year it will render bills for water services furnished. Until paid, all water rates , fees , tolls and charqes shall constitute a lien on the property -18- served , and the City_ shall take whatever action is legally permissible promptly to enforce and collect delinquent water rates ,: fees , tolls and charges and to _enforce said liens . I _ - (g) At _least - once each year it _ will furnish the Purchaser with a complete statement of the receipts and disbursements of and for the Water System for the fiscal year immediately preceding such statement. (h) It will carry workmen' s compensation, public liability and other forms of insurance on insurable Water System property in such amounts as is customarily carried on prudently operated systems of like character. 17. Appropriation of Sums . The sums hereinbefore provided to pay the interest on the Bonds and to discharge the principal thereof , when due , are- hereby appropriated for that purpose , and said amounts for each year shall be included in the annual budget and the appropriations ordinance , resolution , or measures to be adopted or passed by the Council in each year , respectively, while- any of the Bonds , either as to principal or interest , are outstanding and unpaid. It shall be the duty of the Council annually at the time and w for levying other City taxes if in the manner provided by la y g y , such action shall be necessary to effectuate the provisions of this Ordinance , to ratify and carry out the provisions hereof with reference to the levy and collection of the ad valorem tax and the imposition, administration, enforcement and collection of the water rates , fees , tolls and charges , all as herein specified, and to require the officers of the City to levy, extend and collect said ad valorem tax in the manner provided by law and to impose, administer , enforce and collect said water rates , fees , tolls and charges for the purpose of providing funds for the payment of the operation and maintenance expenses of the Water System and the payment of the principal of the Bonds and the interest accruing thereon promptly as the same , respectively, become due. 18. Defeasance. When all of the principal of , the interest on, and any premium due in connection with the redemption of the Bonds have been duly paid , all obligations hereunder shall thereby be discharged and the Bonds shall no longer be deemed to be outstanding. There shall be deemed to be such due payment when the City has placed in escrow or in trust with a trust bank located within or without the State of Colorado , moneys or bills , certificates of indebtedness , notes , bonds or similar securities which are direct obligations of, or the principal and interest of which obligations are unconditionally guaranteed by, the United States of America (Federal Securities) in an amount sufficient ( including the known minimum yield available for such purpose from Federal Securities in which such amount may wholly or in part be initially invested) to meet all payment -19- requirements of the Bonds, as the same become due to the final maturities of the Bonds or upon any redemption date as of which the City shall have exercised or shall have obligated itself to exercise its prior redemption option by a call of Bonds for payment then. The Federal Securities shall become due prior to the respective times at which the proceeds thereof shall be needed , in accordance with a schedule established and agreed upon between the City and such bank at the time of the creation of the escrow or trust, or the Federal Securities shall be subject to redemption at the option of the holder thereof to assure such availability as so needed to meet such schedule. Nothing herein shall be construed to prohibit a partial defeasance of the Bonds in accordance with the provisions hereof . 19. Rights and Immunities . Except as herein otherwise expressly provided , nothing herein expressed or implied is intended or shall be construed to confer upon or to give to any person , other than the City and the owners from time to time of the Bonds , any right , remedy or claim under or by reason hereof or any covenant , condition or stipulation hereof. All the covenants , stipulations , promises and agreements herein contained by and on behalf of the City shall be for the sole and exclusive benefit of the City and any owner of any Bonds. No recourse shall be had for the payment of the principal of and interest on the Bonds or for any claim based thereon or otherwise upon this Ordinance , or any other instrument pertaining hereto , against any individual member of the Council or any officer or other agent of the City, past , present or future, either directly or indirectly through the City, or otherwise , whether by virtue of any constitution, charter , statute or rule of law, or by the enforcement of any penalty or otherwise, all such liability, if any, being by the acceptance of the Bonds and as a part of the consideration of their issuance specially waived and released. 20. Ratification. All action not inconsistent with the provisions of this Ordinance heretofore taken by the City or its officers and otherwise by the City directed toward providing the Improvements to the Water System and the issuance and delivery of the Bonds is hereby ratified, approved and confirmed. 21. Facsimile Signatures. Pursuant to the Uniform Facsimile Signature of Public Officials Act , part 1 of article 55 of title 11 , Colorado Revised Statutes , as amended , the Mayor and the City Clerk shall forthwith , and in any event prior to the time the Bonds are delivered to the Purchaser , file with the Colorado Secretary of State their manual signatures certified by them under oath. 22. Authorized Action . 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 -20- of this Ordinance and to comply with the requirements of law, including without limiting the generality of the foregoing : a. The printing of the Bonds , including the printing upon each of such Bonds off -a copy of the legal opinion of Ballard , Spahr , Andrews & Ingersoll, bond counsel, duly certified- -by the City Clerk and , if necessary or desirable pending delivery of printed Bonds, the preparation of one or more temporary typewritten Bonds in an aggregate principal amount equal to that of the Bonds , otherwise in - - - - -substantially the same form and bearing the same terms, to be delivered to the Purchaser and thereafter to be exchanged by the Purchaser for printed Bonds when the same are received by the City; b. The preparation of a final official statement for the use of prospective purchasers of the Bonds , including the Purchaser and its associates , if any; C. The execution of such certificates as may reasonably be required by the Purchaser relating to the signing of the Bonds ; the tenure and identity of the City officials ; the assessed valuation and indebtedness of the ' f City;• i in accordance with the facts the absence of litigation, pending or threatened , affecting the validity of the Bonds ; the exemption of interest on the Bonds from federal and State income taxation , and receipt of the bond purchase price and of the Bonds ; d. The making of various statements , recitals , certifications and warranties provided in the form of Bond set forth in this Ordinance ; and e. The payment of the interest on the Bonds as the same shall accrue and the principal of the Bonds at maturity or upon prior redemption without further warrant or order. 23 . Repealer . All acts , orders , resolutions , ordinances , or parts thereof, taken by the City in conflict with this Ordinance are hereby repealed ; except that this repealer shall not be construed so as to revive any act , order , resolution, ordinance , or part thereof , heretofore repealed. 24. Ordinance Irrepealable. This Ordinance is , and shall constitute , a legislative measure of the City, and after the Bonds are issued and outstanding , this Ordinance shall constitute a contract between the City and the owner or owners of the Bonds , and shall be and remain irrepealable until the Bonds and the interest accruing thereon shall have been fully paid , satisfied and discharged. 25. Severability. If any paragraph, clause or provision of this Ordinance is judicially adjudged invalid or unenforceable, -21- R 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 ONCE IN FULL THIS 30th day of October , 1984 . CITY OF FORT COLLINS , COLORADO By: 4J11- (CITY) Mayor 67 (SEAL) ATTEST: City The foregoing Ordinance will be presented for final passage at the Council' s regular meeting , to be held at Council Chambers , City Hall , 300 LaPorte Avenue , Fort Collins , Colorado , on Tuesday, the 20th day of November , 1984 , at 5 : 30 p.m. -22- READ , FINALLY PASSED ON SECOND READING, AND ORDERED PUBLISHED ONCE BY NUMBER AND TITLE ONLY this 20th day of November , 1984. CITY OF FORT COLLINS , COLORADO By: r..i (CITY) Mayor (SEAL) ATTEST: City Council Member Ohlson moved that the foregoing Ordinance heretofore introduced and read by title be approved on first reading . Council Member Stoner 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" : Gerald C. Horak E. John Clarke William Elliott John B. Knezovich Kelly Ohlson Barbara Rutstein 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 once in full together with a notice giving the date when said 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. Q / .if..LA�rH, wnwk Mayor (CITY) City of Fort Collins , Colorado (SEAL) ATTEST: City Clerk City of Fort Collins , Colorado -24- 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 20th day of November , 1984 , at the hour of 5: 30 p.m. The following persons were present : Council Members : Gerald C. Horak , Mayor E. John Clarke, Assistant Mayor John B. Knezovich Kelly Ohlson Barbara Rutstein Ed Stoner City Manager : John E. Arnold City Clerk : Wanda M. Krajicek The following persons were absent: William Elliott. Councilmember The Mayor informed the Council that Ordinance No. 159, 1984 , which was introduced , approved on first reading , and ordered published once in full at the continuation of the Council ' s adjourned regular meeting of October 16, 1984, held on October 30, 1984 , was duly published in The Coloradoan, a newspaper of general circulation published in the City, in its issue of November 4, 1984. Council Member Knezovich then read said Ordinance by its title. Thereupon, Council Member Knezovich moved the final passage of Ordinance No. 159, 1984. Council Member 0h1son seconded the motion, and the question being upon the final passage of said Ordinance, the roll was called with the following result : Council Members voting "AYE" : Gerald C. Horak E. John Clarke Wad�i.aa��113ot t John B. Knezovich Kelly Ohlson Barbara Rutstein Ed Stoner -25- A Council Members voting "NAY" : None The Mayor_ :the-reupon 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 or said 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 five (5) days after said final passage. After consideration of other business to come before the Council the meeting was adjourned-. Mayor City of Fort Collins , Colorado (CITY) (SEAL) ATTEST: City- Clerk City of Fort Collins , Colorado -26- 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. 159 , 1984, 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 the continuation of its adjourned regular meeting of October 16, 1984, held at Council Chambers , City Hall, 300 LaPorte Avenue, Fort Collins , Colorado, the regular meeting place thereof, on Tuesday, the 30th day of October , 1984 ; that said Ordinance was finally passed on second reading by said Council at its regular meeting , held at Council Chambers , City Hall, 300 LaPorte Avenue , Fort Collins , Colorado , the regular meeting place thereof , on Tuesday, the 20th day of November , 1984 ; that a true copy of said Ordinance has been authenticated by the signatures of the Mayor of said 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 said Ordinance was duly published once in full together with a notice giving the date when said Ordinance would be presented for final passage and once 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 4, 1984, and November 26, 1984, as evidenced by the certificates of the publisher attached hereto at pages 28 and 29. I further certify that the foregoing pages 1 through 26 , inclusive, constitute a true and correct copy of the record of the proceedings of said Council at its aforesaid meetings, insofar as said proceedings relate to said Ordinance ; that said proceedings were duly had and taken, that the meetings were duly held; and that the persons were present at said meetings as therein shown. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the City of Fort Collins , Colorado, this day of November , , 1984. �MtiNd kA i,c o (CITY) City Clerk (SEAL) City of Fort Collins , Colorado -27- ' STATE OF COLORADO COUNTY OF LARIMER ) ss. CITY OF FORT COLLINS- ) (Attach affidavit of publication in full of Ordinance and notice giving date when Ordinance to be presented for final passage. ) -28- The Coloradoan t STATE OF COLORADO ) COUNTY OF LARIMER )as. AFFIDAVIT OF PUBLICATION T e r e s e R . Anderson 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 1973, 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-erg _ d a y e€eaatrsuceessikue-week; that the first publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the 4 t h day of November , A.D. 19_84; that the last publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the 4th_ day of November , A.D. 1994, 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. A-02 Subscribed and sworn to before me, at and within the County of Larimer, State of Colorado this _ ,qth day of NnAro hor- , A.D. 19.84 I„j Wrmiission Exp r®s f. sst 15, 1987 212 side, Fort Cal ', , CO 80524 My commission expires ' Notary Public Delivered to CiiLC l a rk _ _ q • 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. ) -29- The Coloradoan � s • STATE OF COLORADO ) -• )ss. AFFIDAVIT OF PUBLICATION NTriOTiCEFISIcH 'EREB vc IVE,N COUNTY OF LARIMER .n Tuesday. November 90, 1984, Passed and adopted the tgllowing ordinances on second reading'. ORDINANCE NO. 150, 1984 OF Te re s e R . Anderson , being first duly sworn upon oath, deposes THE COUNCIL OF THE CITY OF FORT COLLINS VACATING ALL and says: That said is the I ega i ec A_e-rk of The Coloradoan; EASEMENTS AND RIGHTS OF WA OF HLPOND O that said has personal knowledge of all facts set forth in this affidavit; that The Coloradoan PRYNG CREEIK`SECOND FIB is a public daily newspaper of general circulation, having its principal office and place of ING - ORDINANCE NO. I51, 1994 OF business situated in said County of Larimer; that said Coloradoan is printed and published THE COUNCIL OF THE CITY OF FORT A daily; that said Coloradoan is a daily newspaper, duly qualified for the purpose set forth SECTIONOS9]<AND'!]5OFOING THE CODE OF THE CITY OF FORT within the meaning of Chapter 109, Article 1, Sections 1-1 to 1-8 inclusive of Colorado COLLINS RELATING TO THE FIREMEN'S PENSION FUND Revised Statutes 1973, and any amendment thereof passed prior to the date hereof; that ORDINANCE NO. 151, 1981 OF said newspaper had, prior to January 1, 1936, and has ever since said date been admitted to THE COUNCIL OF THE CITY OF FORT COLLINS, BEING AN the United States Mails as second class matter under the provisions of the Act of March 3, ORDINANCE APPROPRIATING 1879, and an amendments thereof, that said newspaper is printed in whole in said Count FROM IAIPNEW ATED REVENUE y y SOURCE of Larimer and has a general circulation therein; that said newspaper has been so printed ORDINANCE NO 154, 1984 OF and published as a public daily newspaper of general circulation in said County of Lar- THE COUNCILOLINS O.THE ITT NFORT G imer, uninterruptedly and continuously, during the period of more than fifty-two consecu- THE CITY AMANAGER NC live weeks next prior to the first issue thereof containing the annexed legal notice of WITH MER THE ET FINANCASE IAL ECDR N advertisement; that said annexed legal notice or advertisement was published in the POO PURCHASE FOR THE AEP EASE regular and entire editions of said newspaper for TRUCK WITH CREW CAB FOR SURVEORDINANCE NO. 1%. 1984 OF THECOUNCILOF THE CITYOF FORT COLLINS APPROPRIAT ING PRIOR YEAR RESERVE'. IN THE CAPITAL PROJECT! FUND AND AUTHORIZING THE successive �ttylyA%x day d4> >�Ii xsiS�L> �iwL%Wclfx that the TIONS TRANSFER BETWEENPROPRIA CAPITAL first publication of said le a1 notice or advert' ement was in the regular and entire edition PROJECTS J ]] N ORDINANCE NO.157,1984 of said newspaper on the 26 t h day of November A.D. 19 84; that the last AN ORDINANCE "THORIZ ING THE ISSUANCE OF CITY publication of said legal notice or advertisement was in the regular and entire edition of OF FORT COLLINS, COLO RADO, SALES AND USE TAX said newspaper on the �(j{ _ day Of_N_0_t�mt].er A.D. 19 _, and that, REVENUE BONDS, DATED NOVEMBER 1, 1984, IN THE copies of each number of said paper in which said notice or advertisement was published AGGREGATE PRINCIPAL were delivered by carriers or transmitted by mail to each of the subscribers of said paper, AMOUNT OFOoDEFRAY ING. IN WHOLE OR IN PART, according to the accustomed mode of business in this office. THE COST OF ACQUIRING, A-90 ING STREETS AND HIGHWAY! FOR THE CITY AND OF PAY ING THE PRINCIPAL OF INTEREST ON,AND ANY COM MITMENT FEE DUE IN CON NECTION WITH THE BOND ANTICIPATION NOTE NOTE SERIES FEBRUARY 1, 190N DATED F PRINCIPAL RY L AMOUNT IN THE PRINCIPAL AMOUNT - NOT MORE THAN E25,000,000. ORDINANCE NO.158,1984 AN ORDINANCE AUTHORIZ Subscribed and sworn to before me, at and within the County of Larimer, State of Colorado of THE ISSUANCE FORT CITY N COLLINS,SOCOLO this __ 26 t h day of November ( r -,/ A.D. 19_84 1UND, SEWER 19ei DATEL I984, IN THE 'Ay �5; ll,':i:Ji Jll L.r.f�J is:J��.SL �i, 41/ AGGRENOVEMGATE 1PRINCIPAL AMOUNT OF 811,000,000. 12 Riverside, t Co;fns, GO 6a2" My commission expires W,2 Notary PubT4A 5- Delivered to City Clerk _ ___ `%/_!�jI ORDINANCE NO. 159 , 1984 AN ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF FORT COLLINS, COLORADO, GENERAL OBLIGATION _- WATER BONDS , SERIES 1984 , DATED NOVEMBER 1 , 1984 , IN THE AGGREGATE PRINCIPAL AMOUNT OF $7, 750, 000, FOR THE PURPOSE OF PROVIDING IMPROVEMENTS TO THE EXISTING WATER SYSTEM OF THE CITY; AND PROVIDING FOR THE LEVY OF AN AD VALOREM TAX AND FOR THE PLEDGE OF THE NET REVENUES DERIVED FROM THE OPERATION OF THE WATER SYSTEM TO PAY THE PRINCIPAL OF AND INTEREST ON SAID BONDS. READ, ADOPTED ON SECOND READING , AND ORDERED PUBLISHED ONCE BY NUMBER AND TITLE ONLY this 20th day of November , 1984 . CITY OF FORT COLLINS , COLORADO (CITY) Mayor (SEAL) ATTEST: City Clerk QS -30-