Ordinance 1975-460 - Laserfiche WebLink

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Q t' QJ)..tecJ CITY OF LOUISVILLE~ COLORADO ORDINANCE NO. 460 AN ORDINANCE ASSESSING EACH WATER USER OR TAP OWNER AN ADDI- TIONAL $2.00 EACH ~~ONTH TO APPLY TO PAY~~ENT OF 1975 t~ATER BOND ISSUE AND FOR IMPROVEMENTS TO WATER SYSTEM. THAT WHEREAS~ the C'ity of Louisvi11e~ Colorado is planning to issue its bonds for water improvements to Municipal System in 1975~ and WHEREAS~ it is necessary to raise sufficient funds to pay the interest on said bonds and to redeem the same when due~ and to provide for revenue for the improvE~ment of the city's water s'ystem~ NOW THEREFORE~ Be It Ordained By the City Council of the City of Louisville: Section 1. There is hereby assessed against each water user or tap owner the sum of $2.00 per month~ commencing on March 1 ~ 1975~ to aid in the raising of sufficient funds to pay interest on and to re- deem the 1975 Bond Issue when said sums become due and payable. Section 2. In the E~vent that more funds are raised by this assess- ment than is necessary to pay the interest when due and to retire said bonds when due~ then such excess funds may be used for generally improv- ing the city's municipal water system. Section 3. This sum is in addition to the $3.00 per month charge heretofore assessed water users and tap owners for the payment of interest on and redemption of the 1955 Water Bond Issue~ and the $1.50 per month assessment said water users and tap owners were assessed heretofore as set forth in Ordinance No. 389~ duly adopted on December 21 ~ 1971 for the payment of the interest on and to redeem the 1971 Water Bond Issue. Section 4. Emergenc:y- That whereas~ it is necessary for the City to raise sufficient reVenUE! to pay said 1975 Water Bond issue when due~ and ~VHEREAS~ it is necessary to commence said $2.00 assessment on ~1arch 1 ~ 1975 in order to provide the necessary funds to pay the same when due. NOW~ THEREFORE~ the City Council determines that an emergency exists for the immediate protection and preservation of the public health~ safety and general we1fare~ and taht this ordinance is enacted for that purpose and it shall be in full force and effect five days after its passage and final publication. Introduced~ read and ordered published this 7th day of January~ 1975. Adopted and approved 1975. on second and final reading dJ(l~i{' t' a-it'd ___m____________ /--._--_____.___~ Mayor this _ day of ATTEST: