Ordinance Number 151

An ordinance to amend ordinance No. 150, of the Town of Deer Trail, Colorado, Passed and adopted on December 18, 1978, relating to the maturity dates on the $74,000 of General Obligation Water Bonds to be issued to the United States Department of Agriculture, Farmers Home Administration, and declaring an emergency. 

Whereas, the Board of Trustees has, by Ordinance No. 150, finally passed and adopted on December 18, 1978, authorized the issuance of general obligation water bonds in the total principal amount of $74,000, for the purpose of paying part of the costs and expenses of supplying the Town with water, by extending and improving the existing waterworks system of the Town; and

Whereas, the bonds authorized by said Ordinance No.150 will be purchased by the United States Department of Agriculture, Farmers Home Administration, in accordance with a loan agreement entered into between the Town and the Farmers Home Administration; and

Whereas, when Ordinance No. 150 was passed and adopted it was estimated that the money would not be needed until on or after September 1, 1979, and the maturity schedule on the bonds was established in accordance with the September 1, 1979, date; and 

Whereas, the project has proceeded ahead of schedule and the money will be needed by the Town on or about July 1, 1979; and

Whereas, it is necessary to amend Ordinance No. 150 to indicate the change in the maturity schedule from September 1, 1979, to July 1, 1979.

Be it ordained by the Board of Trustees of the Town of Deer Trail, Arapahoe County, Colorado:

Section 1. Amendment to Section 2 of Ordinance No. 150.

Paragraphs 1 and 2 of Section No. 2 of Ordinance No. 150, finally passed and adopted on December 18, 1978, is hereby amended to read as follows:

"Section 2. Bond Details. That for the purpose of paying part of the costs and expenses of supplying the Town of Deer Trail with water by extending and improving the existing waterworks system of the Town, the Town sha.11 issue general obligation negotiable coupon bonds in the principal amount of $74,000, each to be designated "General Obligation Water Bond, Series 1979". The bonds shall be dated as of the date of the issuance and delivery of the bonds, will be numbered from 1 to 74, inclusive, and will be in the denomination of $1,000 each. The net effective interest rate of this issue of bonds is 5.00%. Said bonds shall bear interest at the rate of 5% per annum, payable on July 1, 1980, and annually thereafter on July 1 each year, and mature serially on July 1, as follows:

Bonds of this issue maturing on or before July 1, 1989, shall not be redeemable prior to their respective maturity dates. Bonds maturing on July 1, 1990, and thereafter, shall be redeemable at the option of the Town on July 1, 1989, and on any interest payment date thereafter, in inverse numerical order, upon payment of par and accrued interest, without redemption premium. If, however, all of the bonds are held by the Farmers Home Administration, all or any number of the bonds may be redeemed at the option of the Town at any time in inverse numerical order, upon payment of par and accrued interest to the date of redemption. Notice of prior redemption shall be given by publication at least one time in a newspaper having general circulation in the Town, not less than thirty days prior to the date of redemption. If any of the bonds to be redeemed are registered as to principal and interest, then notice shall also be given by mailing a copy of the notice by registered, first class mail, to the registered owner or owners of such bonds, at least thirty days prior to the date of redemption."

Section 2. Amendment to Section 5 of Ordinance No.150.

Paragraphs 1 and 2 of the form of bond and the form of interest coupon in Section 5 of Ordinance No.150 is hereby amended to read as follows:

(Form of Bond)

United States of America 
State of Colorado, 
County of Arapahoe 

Town of Deer Trail
General Obligation Water Bond Series 1979

No. ____
$1,000

The Town of Deer Trail, in the County of Arapahoe and State of Colorado, for value received, hereby promises to pay to the bearer hereof, or if this Bond be registered, then to the registered owner hereof, the principal sum of One thousand dollars on the 1st day of July,19 , with interest thereon at the rate of five per centum (5%) per annum, payable on July1, 1980 and annually thereafter on the 1st day of July each year, as evidenced by interest coupons attached hereto, upon presentation and surrender of the annexed coupons and this Bond as they severally become due, or if this bond be registered, then to the registered owner hereof, both principal and interest being payable in lawful money of the United States of America, at the office of the Town Treasurer, in Deer Trail, Colorado, or as to any bond or coupon owned by the United States Department of Agriculture, Farmers Home Administration, then at the FmHA Finance Office, in St. Louis, Missouri.

Bonds of this issue maturing on or before July1, 1989, shall not be redeemable prior to their respective maturity dates. Bonds maturing on July1, 1990, and thereafter, are redeemable in inverse numerical order, at the option of the Town, on July1, 1989, and on any interest payment dates thereafter, upon payment of par and accrued interest, without redemption premium. If, however, all of the bonds are held by the Farmers Home Administration, then all or any number of the bonds may be redeemed at the option of the Town at any time in inverse numerical order, upon payment of par and accrued interest to the date of redemption."

(Form of Interest Coupon)

On the 1st day of July 19, unless the Bond to which this coupon is attached, if redeemable, has been called for prior redemption, the Town of Deer Trail, in the County of Arapahoe and State of Colorado, will pay to bearer the amount shown hereon, in lawful money of the United States of America, at the office of the Town Treasurer, in Deer Trail, Colorado, or as to any bond or coupon owned by the United States Department of Agriculture, Farmers Home Administration, then at the FmHA Finance Office, in St. Louis, Missouri, being interest then due on its General Obligation Water Bond, Series 1979, bearing No.____

(Facsimile Signature)
Town Treasurer

Section 3. Amendment to Section 7 of Ordinance No.150

Paragraphs 1 and 2 of the form of single bond set forth in Section 7 of Ordinance No. 150 is hereby amended to read as follows:

(Form of Bond)

United States of America
State of Colorado 
County of Arapahoe

Town of Deer Trail
General Obligation Water Bond, Series, 1979

No. R-1 
$74,000

The Town of Deer Trail, in the County of Arapahoe and State of Colorado, for value received, hereby promises to pay to the registered owner hereof, the principal sum of Seventy-four thousand Dollars ($74,000) on July1 in the years and installments as follows:

with interest from the date thereof at the rate of five per centum (5%) per annum, payable on July1, 1980 and annually thereafter on July 1 each year, until said sum is paid. Both the principal hereof and interest hereon are payable in lawful money of the United States of America, to the registered holder hereof at the address shown on the registration books of the Town. The final installment of principal and interest due on this bond shall be made only upon presentation and surrender of this bond to the Town.

Installments of principal of this bond becoming due on and before July1, 1989, are not payable prior to their stated due date, unless the Farmers Home Administration is the registered owner hereof. Installments becoming due on and after July 1, 1990, are subject to prepayment prior to their stated due dates in the amount of $1,000 or any multiple thereof, at the option of the Town, in inverse order of due dates, on July 1, 1989, and on any interest payment date thereafter, by the payment of such principal amount and accrued interest, without prepayment premium. If the Farmers Home Administration is the registered owner, all installments are subject to prepayment prior to their stated due date, in the amount of $1,000 or any multiple thereof, in inverse order of their due date, by the payment of such principal amount and accrued interest to the date of prepayment, without prepayment premium. •Notice of prepayment shall be given as provided by the Ordinance authorizing this bond."

Section 4. Ratification of Prior Action.

All other provisions of Ordinance No. 150 relating to the authorization and issuance of general obligation water bonds of the Town are hereby ratified and approved.

Section 5. Repealed

All ordinances, or parts thereof in conflict with this Ordinance are hereby repealed. 

Section 6. Ordinance Irrepealable. 

After the General Obligation Water Bond, Series 1979, has been issued, this Ordinance shall be irrepealable until said bond and the interest thereon shall be fully paid, satisfied and discharged in the manner herein provided.

Section 7. Severability.

That if any one or more sections or provisions of this Ordinance be judicially determined invalid or unenforceable, such determination shall not affect, impair or invalidate the remaining provisions hereof, the intention being that the various provisions hereof are severable.

Section 8. Emergency Provision.

By reason of the fact that the Town is not supplied with adequate waterworks facilities, and it is necessary to issue bonds to pay part of the cost of the construction and installation of the improvements to the municipal waterworks system, which costs have become due and will hereafter become due and payable, it is hereby declared that an emergency exists, that this Ordinance is necessary for the preservation of the public peace, health and safety, and that it shall take effect upon publication.

Section 9. Recording and Authentication. 

This Ordinance shall be recorded in a book kept for that purpose, shall be authenticated by the signatures of the Mayor and Town Clerk, and shall be published in accordance with law. 

Adopted and approved this 5th day of June 1979.

James W. Rossi, Mayor

Attest: Vera L. Norris, Town Clerk
 

State of Colorado)
County of Arapahoe) ss.
Town of Deer Trail)

Notice of Regular Meeting

Notice is hereby given that a regular meeting of the Board of Trustees of the Town of Deer Trail, Colorado, will be held at the Town Hall, in Deer Trail, Colorado, on Tuesday, the 5th day of June, 1979, at the hour of 7:30 o'clock P.M., at which meeting the Board will consider an amendment to Ordinance No. 150 which authorized the issuance of General Obligation Water Bonds of the Town, and any other business to come before the Board.

Given under our hands and the seal of the Town this 5th day of June, 1979.

James W. Rossi, Mayor 

Vera L. Norris, Town Clerk

Acknowledgement of Notice and Consent to Regular Meeting

We, the undersigned, members of the Board of Trustees of the Town of Deer Trail, do hereby acknowledge receipt of the foregoing notice of a regular meeting, and we hereby waive any and all irregularities, if any, in such Notice and in the time and manner of service thereof upon us, and consent and agree to the holding of such meeting at the time and place specified in said Notice, and to the transaction of any and all business which may come before such meeting.

Board of Trustees
Town of Deer Trail, Colorado:

R. Max Myers, Everitt Davis, Robert Rector, Rober Pundt, James W. Rossi, Ta Cox

State of Colorado)
County of Arapahoe) ss.
Town of Deer Trail)

The Board of Trustees of the Town of Deer Trail, Arapahoe County, Colorado, met in regular session, at the Town Hall, in Deer Trail, Colorado, in full conformity with Law and the ordinances and rules of the Town, on Tuesday, the 5th day of June 1979, at 7:30 o'clock P.M.

Upon roll call the following were present, constituting a quorum:

Mayor: James Rossi
Mayor Pro Tem: Robert Rector
Trustees.: Thomas Cox, Everitt Davis, Robert Myers, Robert Pundt

Also present:
Town Clerk and Treasurer: Vera L Norris

Absent: None

Thereupon Trustee Robert Rector introduced and moved the adoption of the following Ordinance:

It was then moved by Trustee Robert Rector and seconded by Trustee Everitt Davis that all rules of this Board which, unless suspended, might prevent the final passage and adoption of this Ordinance as an emergency measure at this meeting be and the same are hereby suspended.

The question being upon the adoption of said motion and the suspension of the rules, the roll was called with the following result:

Those voting Aye:
Trustees: Thomas Cox, Everitt Davis, Robert Myers, Robert Pundt, Robert Rector
Those voting Nay: None

Five Trustees having voted in favor of said motion, the presiding officer declared the motion carried and the rules suspended.

Trustee Robert Rector then moved that said Ordinance be finally passed and adopted as read. Trustee Everitt Davis seconded the motion.

The question being upon the final passage and adoption of said Ordinance, the roll was called with the following result:

Those voting Aye:
Trustees: Thomas Cox, Everitt Davis, Robert Myers, Robert Pundt, Robert Rector

Those voting Nay: None
The presiding officer thereupon declared that at least three-fourths of all the members of the Board of Trustees having voted in favor thereof, the motion was carried, and the Ordinance is finally passed and adopted as an emergency ordinance.

On motion duly adopted, it was ordered that said Ordinance, after its approval by the mayor and attestation by the Town Clerk, be published in the Tr-County Tribune, a newspaper of general circulation in the Town, and be recorded in a book kept for that purpose. After consideration of other business to come before the Board, the meeting was adjourned.

Mayor, James W. Rossi

Attest: Vera L. Norris, Town Clerk

State of Colorado)
County of Arapahoe) ss.
Town of Deer Trail)

I, Vera L. Norris, Town Clerk of the Town of Deer Trail, Colorado, do hereby certify that the foregoing pages numbered 27 to 37, inclusive, constitute a full and correct copy of the record of the proceedings of the Board of Trustees of the Town, taken at a regular meeting thereof, held on Tuesday, the 5th day of June, 1979, at the Town Hall, in Deer Trail, Colorado, so far as said minutes relate to an Ordinance concerning the issuance of General Obligation Water Bonds, Series 1979, of the Town; that said Ordinance has been duly authenticated by the signatures of the presiding officer of the Board of Trustees and myself, as Town Clerk of the Town, sealed with the corporate seal of the Town and the Ordinance recorded in the Book of Ordinances kept fo4that purpose in my office; that said Ordinance was, on the 14th day of June, 1979, published in full in the Tr-County Tribune, a newspaper of general circulation in the Town of Deer Trail.

In Witness Whereof, I have hereunto subscribed my name and affixed the seal of the Town, this 14th day of June 1979.

(Seal)     Vera L. Norris, Town Clerk