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HomeMy WebLinkAbout62aRESOLUTION NO. 62a A RESOLUTION TO PRESCRIBE REFUNDING BOND FORMS FOR PUBLIC PARK IMPROVEMENT DISTRICT NO. 1, CITY OF PUEBLO, IN CONFORMITY WITH ORDINANCES NO. 1005 AND NO. 1006, APPROVED SEPTEMBER 4, 1917. WHEREAS, under the laws of the State of Colorado and the Charter and Ordinances Nos. 1005 sad 1006 of the City of Pueblo and the authority conferred by the requisite vote of a majority of the qualified tax - paying electors of Public Park Improvement District No. 1, in the City of Pueblo, voting at a proper election lawfully called and held on the 6th day of November, A.D.1917, the City Council of the City of Pueblo is fully empowered to issue in the name of the City o f Pueblo , for and on behalf of Public Park Improvement District No. 1, in said City, its negotiable coupon bonds in the aggregate amount of One Hundred and Sixty -one Thousand Dollars ($161,000.00), to be denominated Public Park Improvement District No. 1, City of Pueblo, Refunding Bonds, for the purpose of paying, redeeming and refunding a like amount of the outstanding bonds of Public Park Improvement District No. 1, in the City of Pueblo, Colorado; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO: Sec. 1. That refunding bonds in the name of the City of Pueblo be issued in the aggregate amount of one Hundred and Sixty -one Thousand Dollars ($161,000.00), for the purpose of paying, redeeming and refunding the outstanding, unpaid, payable, lawful and valid Public Park Improvement bonds, heretofore issued by or on behalf of Public Park Improvement District No. 1, in the City of Pueblo; said outstanding bonds comprising two separate issues, the first issue of which Forty -six thousand dolls ($46,000.00) are now outstanding, having bean issued in conformity with and under the authority of the laws of the State of Colorado and Ordinance No. 516, of the City of Pueblo, passed and approved January 11, 1897, and the second issue of which One Hundred and Fifteen Thousand Dollars ($115,000.00) are now outstanding, having been issued in conformity with and under the authority of the laws of the State of Colorado and Ordinance No. 626, of the City of Pueblo, passed and approved March 16, 1903 and Ordinance No. 665, passed and approved the second day of May, 1904. Sec. 2. That said refunding bonds shall be designated Public Park Improvement District No. 1, City of Pueblo, Refunding Bonds, shall bear date the 1 st day of June, A.D. 1918, shall be of the denomination of One Thousand dollars ($1,000.00) each, shall be numbered from One to One Hundred Sixty -one, both numbers inclusive, shall bear interest at the rate of five per cent (5 %) per annum, payable semi - annually on the 1 st days of June and December in each year, and shall be payable, both principal and interest, in lawful money of the United States of America at the office of the City Treasurer in Pueblo, Colorado, or at the banking house of the First National Bank in Pueblo, Colorado, or at the banking house of The First National Bank of New York City, in the City of New York, U.S.A., at the holder's option. Said bonds shall be payable at the option of the City of Pueblo ten (10) years after their date, or at any time thereafter and shall be absolutely due and payable twenty (20) years after date. Said bonds shall be negotiable in form, shall recite by reference Section 13 of Article IX of the Charter of the City of Pueblo and Ordinances No. 1005 and No. 1006, of said City, approved September 4, 1917, shall be signed by the President of the Council and countersigned by the City Controller of the City of Pueblo and shall bear the seal of the city, attested by the City Clerk. The interest accruing on such refunding bonds shall be evidenced by semi - annual interest coupons thereto attached; such coupons shall be signed by the President of the Council and countersigned by the City Controller of the City of Pueblo, and shall bear the seal of the City attested by the City Clerk, said signatures and seal shall be in fac simile and when so executed, such coupons shall be the binding obligations of the municipality according to their import. Said bonds although issued in the name of the City of Pueblo shall be binding obligations of said Public Park Improvement District No. 1 exclusively, all of the taxable property in said district being subject to the levy of a tax, as hereinafter provided, to pay the same, both principal and interest. Sec. 3. That the said refunding bonds and the coupons thereto attached shall be in substantially the following form: UNITED STATES OF AMERICA STATE OF COLORADO COUNTY OF PUEBLO PUBLIC PARK IMPROVEMENT DISTRICT NO. 1, CITY OF PUEBLO, REFUNDING BOND. No. $1,000.00 Public Park Improvement District No. 1, in the City of Pueblo, County of Pueblo and State of Colorado , for value received, hereby acknowledges that it owes and promises to pay to bearer One Thousand Dollars in lawful money of the United States of America, on the 1st day of June, A.D. 1938, with interest there on at the rate of five per centum per annum, payable semi - annually on the 1 st day of December and the 1 st day of June in each year, both principal and interest being payable at the office of the City Treasurer in Pueblo, Colorado, or at the first National Bark of Pueblo, in Pueblo, Colorado, or at the First National Bank of York City, in New York City, U. S. A., at the holder's option, upon presentation and surrender of this bond and the annexed coupons as they severally become due. This bond is issued by the City of Pueblo for and on behalf of Public Park Improvement District said City, for the purpose of paying, redeeming and refunding a like amount of the outstanding, unpaid, payable, lawful and valid Public Park Improvement bonds of said Public Park Improvement District No. 1, in the City of Pueblo, and the lawful and valid indebtedness evidenced thereby, and in exchange therefor, under, by virtue of and in full conformity with the provisions of Section 13 of Article IX of the Charter of the City of Pueblo and Ordinances No. 1005 and No. 1006, of said City, approved September 4, 1917, and it is hereby certified and recited that all the requirements thereof have been complied with by the proper officers in the issue of this bond. It is further hereby certified and recited that all the requirements of law have been fully complied with by the proper officers of the City of Pueblo in the issue of this bond, and that the total debt of said Public Park Improvement District No. 1, including that of this bond, exceeds neither the Charter provisions of the City of Pueblo nor the statutory or constitutional limitations of the State of Colorado. This bond is the exclusive obligation of said Public Park Improvement District No. 1, in the City of Pueblo, and all of the taxable property in said District is subject to the levy and collection of a tax to pay the same, and for the levy, collection and application of such taxes to such purpose the City of Pueblo will exercise all the powers conferred upon it by law. IN TESTIMONY WHEREOF, the City of Pueblo has caused this bond to be signed by the President of the Council and countersigned by the City Controller of the City of Pueblo, and has caused the seal of the municipality to be hereto affixed and attested by its Clerk, and has caused the interest coupons hereto attached to be signed and sealed in facsimile by the President of the Council, the countersignature of the City Controller, and the attestation o f the City Clark, as of this 1 st day of June, A.D. 1918 . President of the Council ATTEST: COUNTERSIGNED (Form of Coupon) No. $25.00 December On this 1 st day of June , A. D . 1918, Public Park Improvement District No. 1, in the City of Pueblo, County of Pueblo and State of Colorado, will pay t o the bearer Twenty -five dollars in lawful money of the United States of America, at the office of the City Treasurer, in Pueblo, Colorado, or at the First National Bank of New York City, in New York City, U.S.A. at the holder's option, being six months' interest on its refunding bond, dated June 1, A.D. 1918. No.