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TOW11N OF TAOS
ORDINANCES
3
YEAR, C,
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NUMBER,
7R
ORDINANCE NO. S!7
v kid
AN ORDINANCE AMENDING ORDINANCE NO. 201,
PASSED AND ADOPTED ON THE 2d DAY OF
DECEMBER, 1949 ; CONCERNING THE VILLAGE
OF TAOS WATER AND SEWER REVENUE BONDS
DATED NOVEMBER 1 , 1949 ; CONCERNING THE
REQUIREMENTS FOR ISSUING JUNIOR LIEN
BONDS ; CONCERNING THE CONTROL AND MANAGE-
MENT OF THE WATER AND SEWER SYSTEM OF THE
TOWN ; AND DECLARING AN EMERGENCY .
WHEREAS, the Town of Taos , on the 2d day of Decem-
ber , 1949 , then acting as a Village , has passed and adopted
Ordinance No. 201 entitled: "An Ordinance declaring the
necessity for issuing Water and Sewer Revenue Bonds of the
Village of Taos, New Mexico, in the principal amount of
$330 ,000 , payable out of the net income to be derived by
said Village from the operation of its municipally owned
water and sewer system for the purpose of making necessary
improvv-.,:ents and extensions to said water and sewer system;
authorizing the issuance and sale of such bonds , providing
for the payment thereof and the interest thereon , and other
details in connection with ti a issuance and payment of said
bonds including the establishment of minimum rates and
charges for water and sewer service: repealing all ordi-
nances or parts thereof in conflict herewith, and uec larinh
an emergency"; and
WHEREAS, it is necessary for the betterment , ex-
tension and improvement of the said water and sewer system
that additional junior lien bonds be issued by said Town ,
and that direct control of said system be returned to the
do- r : of Trustees of the Town ; and
WHEREAS, Section 20 of said Ordinance No. 201 pro-
ides in part that after the issuance of the Village of
Water and Sewer Revenue Bonds , dated November 1 . l��'.y , in
the original principal amount of $330, 000 .UO ( issut:.; pursuat r
to Ordinance No. 201) no change , variation or alteration of
i
i
any kind in the provisions of said Ordinance 201 should be
made unless the owners of 75% of the outstanding bonds then
consent in writing to such change or alteration ; and
WHEREAS, there are now outstanding bonds numbers
� - to in the total principal amount of $'' ��'���• '
and
WHEREAS, Connecticut Mutual Life Insurance Company
of Hartford, Connecticut, the owner of all outstanding bonds
of said November 1, 1949 , series (i .e . , numbers to
by letter dated .': ty 1961, has consented
to the amendments to Sections 7(c) , 7(d) , 10, 11(i) and
11(j ) , and to the addition of Section 21 , all of said Ordi-
nance No. 201, as more specifically designated below.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF
TRUSTEES OF THE TOWN OF TAOS , NEW MEXICO-
Section A. That Section 7(c) of said Ordinance
No . 201 be amended to read as follows
"After making the payments hereinabove provided
in paragraphs (a) and (b) of Section 7 of this
ordinance , any remaining revenues derived from
the operation of the said system may be applied
to the. payment of any junior lien bonds to be
issued hereafter . "
Section B. That Section 7 (d) of said Ordinance
No . 201 be amended to read as follows-
"After making the payments hereinabove provided
in paragraphs (a) and (b) of Section 7 of this
ordinance, and also any payments which may be
required pursuant to paragraph (c) of Section
7 of this ordinance , any remaining revenues
derived from the operation of the system (but
not more than 10% of the gross income from said
system) shall be paid into an 'Extension and
Bei'terment Fund ' for the purpose of extending,
improving or repairing said system, and/or any
revenues remaining after the payments required
by the aforesaid paragraphs (a) , (b) , and (c)
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shall be used only for redeeming the senior
lien bonds or for purchasing said bonds in
the open market au not more than the redemp-
tion price . "
Section C. That Section 10 of said Ordinance No .
201 be amended to read as follows:
" hat nothing in this ordinance contained shall
be construed in such a manner as to prevent the
issuance by the Town of additional bonds or
other obligations payable from the income de-
rived from the operation of the said water and
sewer system and constituting a lien upon said
revenues junior to, but not prior or superior
to or on a parity with, the lien of the bonds
herein authorized nor' to prevent the issuance
of bonds or other obligations refunding all or
a part of the bonds herein authorized; provided,
however, that the Town is not in default as to
payments required to be made in Section 7 of
this ordinance. "
Section D. That Section 11(i) of said Ordinance
No. 201 be amended to read as follows:
"That immediately upon the effective date of this
provision, the said water and sewer system shall
be operated, controlled and supervised directly
and solely by the Board of Trustees of the Town .
The said Board of Trustees shall ad(.pt all rules ,
regulations and laws , not inconsistent with this
ordinance , necessary to the efficient operation
of the system. "
Section E. That Section 11(j ) of said Ordinance
No . 201 be amended to read as follows :
"That immediately upon the of fec t-ive date of this
provision , the manage: of the said system shall be
under the direct control of and shall be respon-
sible directly to the Board of Trustees of the
Town . any new manager of the system shall be
appointed by the Board of Trustees . Such manager
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shall be fully qualified and experienced to
operate and maintain a system in the manner
provided by this ordinance . He shall be re-
quired to file with the Town a Fidelity Bond
in an amount not less than $ conditioned
on the faithful performance � _h_ls duties and
the prompt, diligent collection , enforcement
and application of the rates and charges for
services supplied by the system. "
Section F. Said Ordinance No. 2 011 is also hereby
amended by the addition of Section 21, which will read as
follows -,
"Section 21 . That in order to provide proper
notice to all future holders of the aforesaid
• outstanding bonds (numbers to both
inclusive) tc the effect that this ordinance
has been adopted and to the effect that its
provisions have been consented to, the holders
c,r. Lite outstanding bonds shall cause to be
stamped or printed on each of such bonds the
following endorsement:
"The holder of this bond has consented
to all of the provisions of Ordinance
No. adopted by the Board of
Trustees of the Town of Taos , New
Mexico, on 1961, in-
.v� r
cluding but not limited to the manner
of issuing junior lien bonds , and each
subsequent holder hereof must accapt
tois bond subject to the aforesaid con-
sent and ordinance . "
Se:tier G. That the officers of the Town of Taos
!)r , and they hereby are , authorized and directed to take all
ac-tion .necessary or appropriate to effectuate the provisions
of this ordinance .
Section H. That if any section, paragraph , clause
or provision of this ordinance shall for any reason be held
-5-
to be invalid or unenforceable, the invalidity or unenforce-
ability of such section , paragraph, clause or provision
shall not change any of the remaining provisions of this
ordinance .
Section I. That all ordinances or resolutions ,
or parts thereof, inconsistent herewith are hereby repealed
co the extent only of such inconsistency. This repealer
shall not be construed to revive any ordinance or resolution ,
c.• part thereof, heretofore repealed.
Section J. That because of the fact the Town does
not not? have an adequate water and sewer system it is neces-
sary to defray forthwith the cost of improvements thereto,
this ordinance is necessary for the preservation of the
public health, peace and safety of the inhabitants of the
Town of Taos, Taos County, New Mexico, and that this ordi-
-nance is hereby declared to be an emergency on the ground
of urgent public need; and, therefore , immediately upon its
final passage, this ordinance shall be recorded in the book
of ordinances of said Town kept for that purpose, authenti-
. cated by the signatures of the Mayor and 'Town Clerk, shall
. be published in the Taos News
a legal newspaper published and of general circulation in
s n i d Town ,
PASSED; ADOPTED, SIGNED AND APPROVED this 5th
day of July 1961 .
/s/ Gilbert C. Rivera
Mayor
SF_At.)
Attest,
_ __/s/ Molly 0. Rivera
Town Clerk
NO
-6-
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V!7,
off"
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i'�ULM
J.
J �a
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ORDINANCE NO.
Sly
AN ORDINANCE AMENDING ORDINANCE NO. 201,
PASSED AND ADOPTED ON THE 2d DAY OF
DECEMBER, 1949 ; CONCERNING THE VILLAGE
OF TAOS WATER AND SEWER REVENUE BONDS
DATED NOVEMBER 1 , 1949 ; CONCERNING THE
REQUIREMENTS FOR ISSUING JUNIOR LIEN
BONDS ; CONCERNING THE CONTROL AND MANAGE-
MENT OF THE WATER AND SEWER SYSTEM OF THE
TOWN ; AND DECLARING AN EMERGENCY .
WHEREAS , the Town of Taos , on the 2d day of Decem-
ber, 1949 , then acting as a Village , has passed and adopted
Ordinance No. 201 entitled: "An Ordinance declaring the
necessity for issuing Water and Sewer Revenue Bonds of the
Village of Taos , New Mexico, in the principal amount of
$330 ,000 , payable out of the net income to be derived by
said Village from the operation of its municipally owned
water and sewer system for the purpose of making necessary
improvements and extensions to said water and sewer system;
authorizing the issuance and sale of such bonds , providing
for the payment thereof and the interest thereon , and other
details in connection with the issuance and payment of said
bonds including the establishment of minimum rates and
charges for water and sewer service : repealing all ordi -
nances or parts thereof in conflict herewith., and declaring
an emergency"; and
WHEREAS, it is necessary for the betterment , ex-
tension and improvement of the said water and sewer sv�tem
that additional junior lien bonds be issued by said Town ,
and that direct control of said system be returned to the
Boar(" of Trustees of the Town ; and
WHEREAS , Section 20 of said Ordinance No, 201 pi
vides in part that after the issuance of the Village of
Water an(I Sewer Revenue Bonds , dated November I , I n
the original principal amount of $330 , 000 . 00 ( issued puvsudi
to Ordinance No . 201) no change , variation or alteration of
-2-
Ur'j,
am
M
any kind in the provisions of said Ordinance 201 should be
made unless the owners of 75% of the outstanding bonds then
consent in writing to such change or alteration ; and
WHEREAS, there are now outstanding bonds numbers
62 t 0 WD in the total principal amount of 2690000*00
and
WHEREAS, Connecticut Mutual Life Insurance Company
of Hartford, Connecticut , the owner of all outstanding bonds
of said November 1, 1949 , series (i .e , , numbers 62 to
330 ) , by letter dated July Ad—$ 1961, has consented
to the amendments to Sections 7(c) , 7 (d) , 10, 11(1) and
11(j ) , and to the addition of Section 21 , all of said Ordi-
nance No . 201, as more specifically designated below.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF
TRUSTEES OF THE TOWN OF TAOS, NEW MEXICO�
Section A. That Section 7 (c) of said Ordinance
No. 201 be amended to read as follows �
"After making the payments hereinabove provided
in paragraphs (a) and (b) of Section 7 of this
ordinance , any remaining revenues derived from
the operation of the said system may be applied
to the payment of any junior lien bonds to be
issued hereafter . "
Section B. That Section 7 (d) of Faid Ordinance
No . 20L be amended to read as follows -
"After making the payments hereinabove provided
in paragraphs (a) and (b) of Section 7 of this
ordinance , and also any payments which may be
required pursuant to paragraph (c) of Section
7 of this ordinance , any remaii,ing revenUe-S
derived from the operation of the system (bUt
not more than 10% of the gross income from said
system) shall be paid into an 'Extension and
BetLement Fund ' for the purpose of extending,
improving or repairing said system, and/or any
revenues remaining after the paymenLs required
by the aforesaid paragraphs (a ) , (b) , and (c)
- 3-
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shall be used only for redeeming the senior
lien bonds or for purchasing said bonds in
the open market at not more than the redemp-
tion price . "
Section C. That Section 10 of said Ordinance No.
201 be amended to read as follows:
"That nothing in this ordinance contained shall
be construed in such a manner as to prevent the
issuance by the Town of additional bonds or
other obligations payable from the income de-
rived from the operation of the said water and
sewer system and constituting a lien upon said
revenues junior to, but not prior or superior
to or on a parity with, the lien of the bonds
herein authorized nor to prevent the issuance
of bonds or other obligations refunding all or
a part of the bonds herein authorized; provided,
however, that the Town is not in default as to
payments required to be made in Section 7 of
this ordinance . "
Section D. That Section 11(i) of said Ordinance
No, 201 be amended to read as follows ,,
'.Uhat immediately upon the effective date of this
provision , the said water and sewer system shall
be operated, controlled and supervised directly
and solely by the Board of Trustees of the Town .
The said Board of Trustees shall adopt all rules ,
regulations and laws , not inconsistent with this
ordinance , necessary to the efficient operation
of the system• "
Section E. That Section 11(j ) of said Ordinance
No . 201 be amended to read as follows:
"That immediately upon the effective date of this
provision , the manager of the said system shall be
under the direct control of and shall be respon-
sible directly to the Board of Trustees of the
Town . Any new manager of the system shall be
appointed by the Board of Trustees Such manager
-4-
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shall be fully qualified and experienced to
operate and maintain a system in the manner
provided by this ordinance. He shall be re-
quired to file with the Town a Fidelity Bond
in an amount not less than r --- conditioned
on the faithful performance of his duties and
the prompt, diligent collection, enforcement
and application of the rates and charges for
services supplied by the system. "
Section F . Said Ordinance No. 201 is also hereby
amended by the addition of Section 21, which will read as
follows -,
"Section 21 . That in order to provide proper
notice to all future holders of the aforesaid
outstanding bonds (numbers 62 to 3_, both
inclusive) to the effect that this ordinance
has been adopted and to the effect that its
provisions have been consented to, the holders
of the outstanding bonds shall cause to be
stamped or printed on each of such bonds the
following endorsement:
"The holder of this bond has consented
to all of the provisions of Ordinance
No, 61,7 , adopted by the Board of
Trustees of the Town of Taos , New
Mexico, on _, 1961 , in-
cluding but not limed to the manner
of issuing junior lien bonds , and each
subsequent holder hereof must accept
this bond ;:object to the aforesaid con-
sent and ordinance . "
Section G . That the officers of the Town of Taos
be , and they hereby are, authorized and directed to take all
action necessary or appropriate to effectuate the provisions
of this ordinance ,
Section H. That if any section , paragraph , clause
or provision of this ordinance shall for any reason be held
-5-
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F j stir}:
to be invalid or unenforceable, the invalidity or unenforce
ability of such section, paragraph,. clause or provision
shall not change any of the remaining provisions of this
ordinance .
Section I . That all ordinances or resolutions,
or parts thereof, inconsistent herewith are hereby repealed
to the extent only of such inconsistency. This repealer
shall not be cons`.rued to revive any ordinance or resolution,
or part thereof, heretofore repealed.
Section J . That because of the fact the Town does
not now have an adequate water and sewer system it is neces-
sary to defray forthwith the cost of improvements thereto,
this ordinance is necessary for the preservation of the
public health, peace and safety of the inhabitants of the
Town of Taos, Taos County, New Mexico,, and that this ordi-
narice is hereby declared to be an emergency on the ground
of urgent public need; and, therefore, immediately upon its
final passage , this ordinance shall be recorded in the book
of ordinances of said Town kept for that purpose, authenti-
cated by the signatures of the Mayor and Town Clerk, shall
be published in the Taos News
a legal newspaper published and of general circulation in
said Town .
PASSED, ADOPTED, SIGNED AND APPROVED this 5th
day of July 1961 ,
/s/ Gilbert C. Rivera
Mayor
r s r.AL
Attest,
_ ,s/ Molly O. Rivera
Town Clerk --
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