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;:a:: ir..p.7.:.•-14 th�•r•z i is, by .._.jor. i ty v: C•' of City Council Pena
<br /> si thau:. stlix7 i5. L':1 of _.uch i•.- 1_::: : .,:-, at:.�Z'•1. .-.∎-,, G. t.'h.ln'j
<br /> to the rusli fled electors or th_! City Eor acpro?al; and
<br /> WHEREAS, the City Council deems it necessary and advis-
<br /> able that certain Sales Tax receipts be pledged for the pur-
<br /> pose of assuring the payment of the interest on and principal
<br /> of said Note.
<br /> SE IT ORDAINED SY TUE CITY COUNCIL OF THE CITY OF
<br /> LOUISVILLE, COLORADO:
<br /> Section 1. That the Contract described in the third . ; .
<br /> recital of this Ordinance is hereby, in all respects, ratified
<br /> and confirmed.
<br /> Section 2. That for the purpose of providing sufficient
<br /> funds for the renovation, improvement, and enlargement of the
<br /> City hall, the City shall issue its Special Obligation Note
<br /> in the principal amount of $939, 375.00 payable to the
<br /> registered owner on the boos of the City as maintained by
<br /> the City Treasurer, as registrar, upon receiving such reasonable
<br /> proof as the registrar may require and thereafter said Note
<br /> shall be payable to the last registered owner appearing on
<br /> the registration panel attached thereto.
<br /> The Note shall be dated as of the date of delivery
<br /> thereof (closing date) , shall bear interest at the rate of
<br /> 8.00 per cent per annum, and shall be payable as follows:
<br /> PAYMENT PAYMENT INTEREST PRINCIPAL REMAINING
<br /> DATE AMOUNT PAID PAID PRINCIPAL
<br /> 12/1/80 $ 75,150.00 $75,150.00 $ $939,375.00
<br /> 12/1/81 79,618.00 75,150.00 4,468.00 934,907.00
<br /> 12/1/82 79, 757.00 74,792.56 4,964.44 929,942.56
<br /> 12/1/83 79, 757.00 74, 395.40 5, 361.70 924,580.96
<br /> 12/1/84 129,511.92 73,966.48 55,545.44 869,035.52
<br /> 12/1/85 129,511.92 69, 522. 84 59,989.08 809,046.44
<br /> 12/1/86 129,511.92 64,723.72 64,788.20 744,258.24
<br /> 12/1/87 129,511.92 59, 540.66 69,971.26 674,286.98
<br /> 12/1/88 129, 511.92 53,942.96 75,568.96 598,718.02
<br /> 12/1/89 129,511.92 47, 897.44 81,614.48 517,103.54
<br /> 12/1/90 129,511.92 41, 368.28 88,143.64 428,959.90
<br /> 12/1/91 329,511.92 34, 316.79 95,195.13 333,764.77
<br /> 12/1/92 129,511.92 26, 701. 18 102,820. 74 230,954-03
<br /> 12/1/93 129, 511.92 18,476. 32 111,035.60 119,918.43
<br /> 12/1/94 129,511.90 ' 9, 593.47 119,918.43 _ -
<br /> $1, 738,913. 10 $799, 538. 10 $939, 375. 00
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