Ordinance 1976-504 - Laserfiche WebLink

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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. That for the purpose of providing funds with which to refund and pay $1,143,000 of its 1966, 1971 and 1975 Issues above described the City of Louisville, Colorado, shall issue its General Obligation Refunding Water Bonds in the principal amount of $1,100,000. Said Refunding Bonds shall be dated June 1, 1976; shall consist of 220 bonds in the denomination of $5,000 each, numbered 1 to 220, inclusive; shall bear interest payable on March 1, 1977, and semiannually thereafter on the 1st day of September and the 1st day of March each year, and shall mature serially on September 1, as follows: Bond Numbers Interest Rate Amounts Years (All Inclusive) (Per Annum) Maturing Maturing 1 - 8 6.50% $ 40,000 1977 9 - 19 6.50% 55,000 1978 20 - 38 6.50% 95,000 1979 39 - 57 6.50% 95,000 1980 58 - 76 6.50% 95,000 1981 77 - 96 6.50% 100,000 1982 97 - 116 6.50% 100,000 1983 117 - 137 6.50% 105,000 1984 138 - 148 6.50% 55,000 1985 149 - 161 6.50% 65,000 1986 162 - 175 6.50% 70,000 1987 176 - 192 6.50% 85,000 1988 193 - 212 6.50% 100,000 1989 213 - 220 6.50% 40,000 1990 The Refunding Bonds and the escrow securities shall be awarded to and supplied by Boettcher & Company, Denver, Colorado. The net effective interest rate on these bonds is 6.50%. The Refunding Bonds maturing on and after September 1, 1988 shall be redeemable at the option of the City on September 1, 1987 and on any interest payment date thereafter, in inverse numerical order, upon payment of par and accrued interest. Notice of prior redemption of the Refunding Bonds shall be given by publication at least once in a legal newspaper or newspapers customarily used by the City for legal notices, not less than thirty (30) days prior to the redemption date, -5-