Ordinance 1978-621 - Laserfiche WebLink

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Installments of principal of this Bond becoming due on and before April 1, 1988, are not payable prior to their stated due date, unless the Farmers Horne Administration is the registered owner hereof. Installments becoming due on April 1, 1989, and thereafter, 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 City, in inverse order of due dates, on April 1, 1988, and on any interest payment date there- after, by the payment of su ch pri nc ipal amount and accrued i n- terest. If the Farmers Horne Administration is the registered owner, all ins tallmen ts are subj ect to prepayment pr ior to the i r 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 princi- pal amount and accrued interest to the date of prepayment. Notice of prepayment shall be given as provided by the Ordinance author- izing this Bond. This Bond 1S issued by the City Council of the City of Lou isvi lIe, Colorado, for the purpose of supply ing water to the City and its inhabitants, by extending and improving the existing waterworks system of the City, under the authority of and in full conformity with the Constitution of the State of Colorado, t:-Ie provisions of Title 31, Article 15, Part 3, Colorado Revised Statutes 1973, as amended, and all other laws thereunto enabling, and pursuant to an Ordinance of the City duly adopted, published and made a law of the City prior to the issuance of this Bond. It is hereby certified and recited that all the requ1re- ments of law have been fully complied with by the proper officers of the City in the issuance of this Bondi that the total debt of the Ci ty, including that of this Bond, does not exceed any limi t of indebtedness prescribed by the ConstiEution or Laws of the State of Colorado, and that provision has been made for the levy and collection of a general ad valorem tax on all the taxable property in said City, sufficient to pay the interest on a~d the principal of this Bond when the same become due. The full faith and credit of the City of LOuis\7iL:.e, Colorado, are hereby pledged for the punctual payment cf tje p~incipal of and the interest on this Bond. - 15 -