Emergency Ordinance of the Town of Deer Trail, Colorado, amending Ordinance No. 227 relating to the issuance of the Town's sanitary sewer revenue bonds in the aggregate principal amount of $717,000 and providing certain details wit regard thereto; and declaring an emergency.
Whereas, the Town of Deer Trail, Colorado (the "Town") approved Ordinance No. 227 on August 3, 2005, which authorized the issuance of the Town of Deer Trail Sanitary Sewer Enterprise, Sanitary Sewer Revenue Bond, Series 2005; and
Whereas, the Sanitary Sewer Revenue Bond, Series 2005 was sold to the United States of America, Rural Utility Services (the "RUS"); and
Whereas, the RUS has advised the Town that the semi-annual payment of principal and interest required for the payment of the bonds is $18,384 and not $18,436 as stated in the Ordinance; and
Whereas, the RUS has requested that Ordinance No. 227 be amended to reflect the correct semi-annual payment and has consented thereto; and
Whereas, pursuant to Section 12 of Ordinance No. 227, such amendment is authorized to cure any defect; and
Whereas, the Board desires to amend its Ordinance No. 227 to provide for the lower semiannual payments of principal and interest and other details relating to said reduction.
Now, therefore, be it ordained by the Board of Trustees of the Town of Deer Trail, Colorado.
Section 1. The second paragraph of Section 5 of Ordinance No. 227 is hereby amended to read:
"The Bond shall be dated as of its date of issuance and shall bear interest at the rate of 4.125% per annum, payable semiannually on each January 1 and July 1, commencing on January 1, 2006, and shall mature on July 1, 2045. Each semiannual payment of principal and interest shall be in the amount of $18,384."
Section 2. Ratification and Approval.
All actions heretofore taken by the officers of the Town and members of the Board acting as the Board of Trustees of the Town and as the Governing Body of the Town of Deer Trail Sanitary Sewer Enterprise and relating to the Sanitary Sewer Revenue Bond, Series 2005, and including Resolution No. 2006-0 IS are hereby ratified and approved.
Section 3. Repealer
All orders, bylaws, ordinances, and resolutions of the Town, or parts thereof, inconsistent or in conflict with this Ordinance, are hereby repealed to the extent only of such inconsistency or conflict.
Section 4. Severability.
If any section, paragraph, clause, or provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause, or provision shall not affect any of the remaining provisions of this Ordinance, the intent being that the same are severable.
Section 5. Recording and Authentication.
Upon adoption hereof, this Ordinance shall be recorded in a book kept for that purpose and shall be authenticated by the signatures of the Mayor and the Town Clerk.
Section 6. Emergency Declaration.
By reason of the fact that the Town must immediately provide for the proper payment, by and through the Town of Deer Trail Sanitary Sewer Enterprise of its Sanitary Sewer Revenue Bond, Series 2005, it is hereby declared that an emergency exists, and that this Ordinance is necessary for the preservation of the public peace, health and safety and that it shall become effective upon adoption.
Introduced, read, passed as an emergency ordinance at a regular meeting of the Board of Trustees on the 6th day of June 2006, and ordered published by title only.
James F. Johnson, Mayor
Attested: Patti K. Owen, Town Clerk
It was thereupon moved by Trustee Tami Stoumbaugh and seconded by Trustee Lavoie that the foregoing Ordinance, introduced at this meeting as aforesaid, be passed and adopted as an emergency ordinance.
The questions being upon the adoption of the motion, the roll was called with the following result:
Those voting Yes:
Mayor: James Johnson
Mayor Pro Tem: Tami Stoumbaugh
Trustees: Gary Lavoie
Russell Ness
Harry Venter
Robert Sanger
Absent:
Trustee: Melvin Wood
Those voting No: None
Six (6) members of the Board of Trustees having voted in favor of said motion, the such number being at least three-fourths of the members of the Board of Trustees, the presiding officer thereupon declared the motion carried and that the Emergency Ordinance was passed and adopted as an emergency ordinance.
Thereupon, after consideration of other business to come before the Board, the meeting was adjourned.
James F. Johnson, Mayor
Attested: Patti K. Owens, Town Clerk
State of Colorado
County of Arapahoe
Town of Deer Trail.
The Board of Trustees of the Town of Deer Trail, Colorado, met in regular session in full conformity with law and the ordinances and rules of the Town, at the Town Hall, 555 Second Avenue, Deer Trail, Colorado, on Tuesday, the 6th day of June 2006, at 7:00 P.M.
Upon roll call the following were present, constituting a quorum:
Mayor: James Johnson
Mayor Pro Tern: Tami Stoumbaugh
Trustees: Gary Lavoie
Russell Ness
Harry Venter
Robert Sanger
Also present:
Town Clerk: Patti Owens
Absent:
Trustee: Melvin Wood
Thereupon Mayor Pro Tem Tami Stoumbaugh introduced, and there was read the following Ordinance:
State of Colorado
County of Arapahoe
Town of Deer Trail
I, Patti Owens, Town Clerk of the Town of Deer Trail, Colorado, do hereby certify that the foregoing pages numbered 2 to 4 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 6th day of June, 2006, at the Town Hall, 555 Second Avenue, Deer Trail, Colorado, so far as said minutes relate to an emergency Ordinance concerning the Sanitary Sewer Revenue Bonds, Series 2005, 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 for that purpose in my office.
In witness whereof, I have hereunto subscribed my name and affixed the seal of the Town, this 6th day of June 2006.
Patti k. Owens, Town Clerk