Laserfiche WebLink
<br /> [Back of Bo nd] <br /> ADDITIONAL PROVISIONS <br /> This Bond is one of a series aggregating One Million Six <br />Hundred Thousand Dollars ($1,600,000) par value, all of like date, <br />tenor, date of maturity, principal amoun t , interest rate, and <br />effect, except as to number, issued by the City Council of the <br />City of Louisville, Colorado, for the purpose of paying for local <br />improvements to be constructed in Spec ial Improvement District No. <br />1986-1, in the City of Louisville, by virtue of and in full <br />conformi ty wi th the Constitution of the State of Co lorado; Title <br />31, Article 25, Part 5, C.R.S.: and all other laws of the State of <br />Colorado thereun to enabling, and pursuant to the duly adopted <br />Ordinance authorizing the issuance of this Bond. <br /> Payment of this Bond and the interest thereon shall be <br />made from, and as security for such payment there is pledged, a <br />special fund designated as the "Special Improvement District No. <br />1986-1 Bond Fund" , which Fund shall contain the capitalized <br />interest, any moneys in the construction account rema ining after <br />the cost of improvements has been paid in full, and the proceeds <br />from special assessments levied against the property included <br />within the District and specially benefited by the construction <br />and installation of improvements therein. When levied, the <br />asses sments will constitute a lien on and against each lot or <br />tract of land in the District, in the respective amoun ts to be <br />apportioned by an ordinance of the City. <br /> In addition, the Bond Ordinance provides that whenever <br />three-fourths of the Bonds of this issue have been paid and <br />cancelled and for any reason the remaining assessments are not <br />paid in time to pay the remaining Bonds and the interest due <br />thereon, the City shall pay the Bonds when due and the interest <br />thereon and reimburse itself by collecting the unpaid assessments <br />due the District. <br /> It is hereby recited, certified, and warranted that the <br />total issue of Bonds of the City for the District, including this <br />Bond, does not exceed the amount authorized by law; that every <br /> - 29 - <br />