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<br /> ORDINANCE NO. 9s9 <br /> - <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE BY THE <br /> CITY OF LOUISVIL~E, COLORADO, OF GENERAL OBLI- <br /> GA TION ~-vATER REFUNDING AND IMPROVEHENT BONDS, <br /> SERIES 1985, IN THE PRINCIPAL MlO UNT OF <br /> $2,950,000, FOR THE PURPOSE OF REFUNDING VALID <br /> AND OUTSTANDING GENERAL OBLIGATION WATER BONDS <br /> OF THE CITY, AND FOR THE PURPOSE OF PAYING THE <br /> COSTS OF H1PROVING THE EXISTING WATER TREAT- <br /> ~1ENT , STORAGE, AND TRANSrnSS ION FACILITIES OF <br /> THE CITY; PRESCRIBING THE FORM OF SAID BON DS ; <br /> PROVIDING FOR THE LEVY Of AD VALOREH TAXES AND <br /> THE APPLICATION OF REVEN UES DERIVED FRor1 THE <br /> WATER SYSTEM OF THE CITY TO PAY THE SAt1E; <br /> PROVIDING FOR A PART OF THE PROCEEDS OF SAID <br /> BONDS TO BE DEPOSITED IN A SEPARATE ESCROW <br /> ACCOUNT FOR THE PAYHENT OF THE BON OS BEING <br /> REFUNDED; PROVIDING OTHER DETAI LS IN CONNEC- <br /> TION THEREWITH; AND DECLARING AN EMERGENCY. <br /> WHEREAS, the City of Lo u i s v ill e , Colorado ( the "City") <br /> has heretofore duly authorized, sold, issued, and del i ver ed to the <br /> pur chaser s thereof $1,100,000 of its Ge ner al Obligation Refunding <br /> ~-va ter Bonds, da ted June I, 1976, of which issue there remains out- <br /> standi ng the to tal amount of $415,000, being bonds numbered 138 to <br /> 220, inclusive (the "1976 Bo nds" ) , in the denom ina tio n of $5,000 <br /> each, bear ing interest payable semiannually on l1arch I and <br /> September I each year, and ma t ur i ng on September 1 each year as <br /> follows: <br /> Amount r1a t ur i ty In teres t Ra te <br /> $ 55,000 1985 6.50% <br /> 65,000 1986 6.50 <br /> 70,000 1987 6.50 <br /> 85,000 1988 6.50 <br /> 100,000 1989 6.50 <br /> 40,000 1990 6.50 <br /> WHEREAS, the 1976 Bonds ma tur ing on and after Septem- <br /> ber 1, 1988, are redeemable at the opt ion of the Ci ty on <br /> September 1, 1987, or on any interest payment date thereafter, in <br /> - 2 - <br />