Westminster 2363
(2) No ordinance authorizing any issue of bonds, notes or other
evidences of indebtedness pursuant to the authority contained in this sec-
tion shall be subject to referendum; such ordinance shall become fully
effective upon its final passage.
(c) The Mayor and Common Council of Westminster may pay the
maturing principal of and interest on bonds, notes or other evidences of
indebtedness, to the extent practicable, from the revenues, if any, of the
particular project or improvement for which the bonds, notes or other
evidences of indebtedness were issued, notwithstanding any limitation
contained in any other law.
(d) In addition to any other sources of payment for the principal
of and interest on such bonds, notes or other evidences of indebtedness,
The Mayor and Common Council of Westminster may also pay the matur-
ing principal of and interest on such bonds, notes, or other evidences of
indebtedness, in whole or in part, from the proceeds of such capital con-
tribution charges, connection charges (including area connection charges
related, to the cost of base plant construction as well as the actual cost of
connection), ready to serve charges, service charges, charges for upkeep,
and any other charges or impositions as The Mayor and Common Council
of Westminster may levy, impose and collect from time to time during the
life of said bonds, the power and authority so to do being hereby specifi-
cally granted, notwithstanding any limitation contained in any other law.
(e) In addition to any other sources of payment for the principal of
and interest on such bonds, notes or other evidences of indebtedness, The
Mayor and Common Council of Westminster may also pay the maturing
principal of and interest on such bonds, notes or other evidences of indebt-
edness, in whole or in part, from the proceeds of such front foot benefit
assessments as The Mayor and Common Council of Westminster may levy,
impose and collect from time to time during the life of said bonds, notes
or other evidences of indebtedness, power and authority so to do being
hereby specifically granted, notwithstanding any limitation contained in
any other law.
(f) The issuance of said bonds, notes or other evidences of indebted-
ness shall constitute a pledge of the full faith and credit of The Mayor
and Common Council of Westminster to the payment of the principal of
and interest on such obligations when due; the prompt payment of the
principal of and interest on said bonds, notes or other evidences of indebt-
edness shall be made from unlimited ad valorem taxation and other reve-
nues lawfully available for the purpose and described in the authorizing
ordinance or ordinances. In any event, The Mayor and Common Council
of Westminster shall annually levy upon all property subject to taxation
within its corporate limits ad valorem taxes sufficient to provide, together
with any other funds lawfully available for the purpose, for the payment
of the maturing principal of and interest on said bonds, notes or other
evidences of indebtedness, without limitation as to rate or amount, not-
withstanding the limitation contained in Section 790 of this article or in
any other law.
(g) Nothing contained in this section shall be deemed or construed
to impair the terms or conditions of any bonds, notes or other evidences of
indebtedness or other obligations of The Mayor and Common Council of
Westminster issued prior to the effective date of this section.
Section 2. BE IT FURTHER RESOLVED that the date of the adop-
tion of this Resolution is March 25, 1971, and that the amendment to the
|
|