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HomeMy WebLinkAbout116dRESOLUTION NO. 116d A RESOLUTION PROVIDING FOR THE ISSUE OF SERIES "A" PUBLIC WAY BONDS OF THE CITY OF PUEBLO IN THE AMOUNT OF $250,000 AND PRESCRIBING THE FORM OF SAID BONDS AS PROVIDED IN ORDINANCE N0. 1083 OF THE CITY OF PUEBLO. Be It Resolved By The Council of Pueblo: Whereas, the question of creating a bonded indebtedness in the principal sum of $250,000.00 for the purpose of constructing, condemning, purchasing, acquiring, taking over, leasing, adding to, maintaining, conducting and operating Public Ways, local in use and extent, in whole or in part, and everything required therefor or incidental thereto, for the use of the City of Pueblo and the inhabitants thereof, was duly and regularly submitted by Ordinance No. 1083 of the City of Pueblo to the qualified tax paying electors of the said City at the general city election duly and regularly held in said City on the eighth day of November, 1921; and the majority of the qualified tax paying electors of said City voting on said question at said election, by ballot deposited in separate ballot box as by law provided, duly and regularly voted in favor of the creating of said bonded indebtedness for said purposes; and the submission of said question and the authorization of the indebtedness to be thereby created, are in all respects in due and regular conformity to the Charter and Ordinances of the City of Pueblo and the Constitution and Laws of the State of Colorado. Section 2. That bonds of tile City of Pueblo shall be issued for the purpose of constructing, condemning, purchasing, acquiring taking over leasing, adding to. maintaining, conducting and operating Public Ways, local in use and extent, in whole or in part, and everything required therefore or incidental thereto, for the use of said City or the inhabitants thereof, in the sum of $250,000.00, which bonds shell be of denomination of $1,000 each, and shall be numbered consecutively from number One (1) to two hundred fifty (250), both inclusive, and shall bear date the first day of November, 1921, and shill bear interest at five (5) per cent per annum payable semi - annually on the first day of May and the first day of November in each year thereafter until paid; said bonds shall nature and shill become due and payable after the expiration of fifteen years from the date thereof, and shall be paid at the office of the Treasurer of the City of Pueblo or at the First National Bank of Pueblo, at the option of the holder; provided said bonds shall be redeemable at any time after the expiration of ten year: from the date thereof at the option of the City of Pueblo. Each of said bonds shall be signed by the President of the Council and the City Controller, and shall have the seal of the City affixed, attested by the City Clerk, and each of the coupons attached to said bonds shall be signed and authenticated by the lithographed facsimile signatures of said President of the Council and said City Controller, and shall have a facsimile of the seal of said City lithographed thereon and attested by the lithographed facsimile signature of said City Clerk, which facsimile signature and facsimile seal are hereby adopted and declared to be duly authorized, sufficient and authentic signing and sealing of the said coupons. Section 3. That said bonds shall be in form substantially as follows: UNITED STATES OF AMERICA THE CITY OF PUEBLO STATE OF COLORADO. CITY OF PUEBLO PUBLIC WAY BONDS. No. $1,000.00 On the first day of November, 1936, the City of Pueblo, in the County of Pueblo, and State of Colorado, for value received, promises to pay the bearer at the office of the Treasurer of the City of Pueblo, or at the First National Bank in the City of Pueblo, at the option, of the holder here. of ONE THOUSAND DOLLARS, in gold coin of the United States of America, of the present standard of weight and fineness, car its equivalent, with interest thereon from date at the rate of five per centum per annum, payable at the same places, semi - annually, on the first day of :day and the first day of November in each year, in like gold coin, upon presentation and surrender of the annexed coupons; provided, this bond shall be redeemable on and after the first day of November, 1931, at the option of the City of Pueblo. This bond is issued for the purpose of constructing, condemning, purchasing, acquiring, taking over, leasing, adding to, maintaining, conducting and operating public ways, local in use and extent, in whole or in part, and everything required therefor or incidental thereto, for the use of the said city and the inhabitants thereof, pursuant to and in strict conformity with the provisions of the Constitution of the state of Colorado and of an act of the General Assembly of said state entitled "An Act in Relation to Municipal Corporations, "approved .April 4, 1877, and acts amendatory thereof or supplemental thereto, and under the provisions of the charter of said city adopted September 19, 1911, and pursuant to ordinances and proceedings of said city duly and legally adopted and approved prior to the issuance of this bond and also with the assent of a majority of the duly qualified taxpaying electors of said city voting on the question of the issuance of this bond, at an election duly and regularly called, held and conducted for that purpose on the 6th day of November, A. D. 1923. It is hereby certified, recited and declared that each and every act, condition and thing required to be done, to happen and to be performed, precedent to and in the issuance of this bond, has existed, has happened and has been performed in due time, form and manner as required by law; and that the total indebtedness of the said City of Pueblo, including that of this bond, does not exceed any constitutional or statutory limitation upon the indebtedness of the said City of Pueblo. The faith and credit of said city are hereby irrevocably pledged for the punctual payment of the principal and interest of this bond. IN WITNESS WHEREOF, the said City of Pueblo has caused this bond to be signed by the President of the Council and the City Controller, and to be sealed with the corporate seal of said city, attested by the City Clerk, and has caused the coupons hereto annexed to be signed with the facsimile signatures of said' President of the Council and said City Controller, and the facsimile of said seal of said city to be lithographed an each coupon, attested by the facsimile signature of the City Clerk, this first day of November, A.D. 1921. President of the Council Attest: City Controller City Clerk (Form of Coupon) No. $25.00 The City of Pueblo, in the State of Colorado, will pay to bearer, either at the office of the treasurer of the City of Pueblo, or at the First National Bank of Pueblo, in the City of Pueblo and State Colorado, twenty -five dollars, in United States gold coin, of the present standard of weight and fineness, or its equivalent, on the day of A. D. , being six months' interest then due on City of Pueblo Public Way bond, dated November 1, 1921, 'Line THE CITY OF PUEBLO President o f the Council. Attest: City Controller. City Clerk. Section 4. The officers of the City of Pueblo, designated in Ordinance No. 1083, and by the terns of this resolution, are hereby authorized and directed to execute the said bonds in accordance with the terns of said Ordinance and this resolution, and the issuance, sale and delivery of said bonds in accordance with the terns of Ordinance No. 1083 and this resolution is hereby ordered and directed. All notions or resolutions in conflict herewith are hereby repealed, and all proceedings heretofore had in conformity with this resolution are hereby ratified, confirmed and approved. INTRODUCED December 23, 1921 By John Jackson Studzinski seconded by Jackson moved the resolution be adopted. Roll call - ayes - Jackson, Studzinskd, Lovern.