HomeMy WebLinkAbout151aRESOLUTION NO. 151 a
WHEREAS, Public Water Works District No. Two in the City of Pueblo,
and State of Colorado is a Public Water Works District, Created and existing under and
by virtue of the provisions of "An Act to Provide for the Creation of Public Water Works
Districts in cities of Ten Thousand population or over; for the construction, purchase or
condemnation of Water Works therefore; for the issuing of bonds of such District for
such purpose; and for the management of the same ", approved March 25 1905 and
acts amendatory thereof, and,
WHEREAS, in the judgment and opinion of the Board of Water Works or
Commission in charge of the affairs of said Public Water Works District, it will be
expedient and for the benefit of said District to issue bonds for the extension,
improvement, repair and maintenance of the Water Works system of said Districts for
the reason that a substantial and very important portion of said Water Works system is in
a bad state of repair and much damage has been done to the system by floods in the
Arkansas River requiring extensive repairs and improvements, and there is great need of
replacement and renewal of portions of the mains without which there is great danger of
extensive impairment and interruption of the water service within said district, with
consequent great loss to said District and the Water Consumers therein, unless
extensive repairs and improvements of said Water Works system be undertaken
promptly, and
WHEREAS, by an act passed by the General Assembly of the State of Colorado,
entitled, "An Act in relation to Public Water Works Districts and providing for the
issuance of bonds for the extension, improvement, repair or maintenance of the Water
Works System therein ", approved March 7, 1923, provision was made for the issuance
of bonds by Public Water Works Districts for the purpose of extending, improving,
repairing or maintaining the Water Works system within any such Water Works District,
and
WHEREAS, the Board of Water Works in charge of Public Water Works District
No. Two of the City of Pueblo, State of Colorado have investigated the necessity for
such improvements and repairs and have determined after careful consideration, the
amount of bonds necessary to be issued for such purposes and the rate of interest and
the time and place of payment.
NOW THEREFORE, Be it resolved, that the amount of bonds to be issued for
said purposes shall be Two Hundred and Fifty Thousand ($250,000) Dollars, the
maximum rate of interest to be said thereon shall be five per cent (5 %). The said bonds
shall be negotiable coupon bonds and shall be due and payable at the office of the City
Treasurer of the City of Pueblo, twenty -five years from and after the date thereof, but
shall be redeemable at the option of said Water District at any interest paying period,
from and after ten years from their date, redemption of such bonds to be in the order of
their numbers, the lowest numbered bonds to be redeemed first. That said bonds shall
be dated the first day of December 1923 and shall be in the denomination of One
Thousand Dollars ($1,000) each. That the interest on said bonds shall be payable and
semi - annually at the office of the Treasurer of the City of Pueblo or at some bank or
bankinig house in the City of New York if deemed advisable by the council of the City of
Pueblo. Said bonds shall be executed in the name of the City of Pueblo and be signed
by the President of the Council and by the City Controller and be counter - signed by the
officer then acting as the Treasurer of said City and be attested and signed by the City
Clerk and be sealed with the seal of the City of Pueblo. The interest on said bonds shall
be payable in accordance with the tenor of the interest coupons attached to said bonds
which coupons shall be authenticated by the signatures of facsimile signatures of the
President of the Council and of the City Controller and attested by the signature of
facsimile signature of the City Clerk under the seal or a facsimile of the seal of the City.
BE IT FURTHER RESOLVED, That the council of the City of Pueblo be, and they
are hereby requested to submit the question of issuing such bonds to the qualified
taxpaying voters of said District at the coming General Election, to be held on the sixth
day of November, A. D. 1923 and that the council of the City of Pueblo be requested to
pass and adopt an Ordinance providing for the submission, at said election, of the
question of issuing such bonds to the qualified electors with such Water District, who
shall have paid a tax upon realty within said District within one year prior to the date of
such election and that such Ordinance shall specify the time and place or places for
holding said election, the amount of bonds to be issued, the maximum rate of interest
which they shall bear and the period for which said bonds shall run as above specified
and further, that the council of the City of Pueblo shall cause proper and necessary
notices of such election to be published and posted and the election to be conducted
and the results thereof determined, declared and certified in all respects as nearly as
may be in conformity with the provisions of the act under which said bonds are to be
issued.
FURTHER BE IT RESOLVED, That this Resolution be placed upon the records
of the Board and that a certified copy of this Resolution shall be delivered to the council
of the City Pueblo:
the undersigned members of the Board of Water Works or
Commissioners of Public Water Works District No. 2 hereby certify that the above
resolution was unanimously adopted at a meeting of said Board of Water Works held on
the 31S day of July, A.D. 1923, of which meeting due and proper notice was given to
each member of the Board, at which meeting each member of the Board was present
and each of the members of said Board voted in favor of the passage and adoption of
said Resolution and that said Resolution has been placed upon the records of said
Board.
Attest:
Clerk -Board of Public Water Works
District No. Two