HomeMy WebLinkAbout131 - 09/16/1986 - AUTHORIZING THE ISSUANCE OF STREET OVERSIZING FUND REVENUE NOTES IN THE AMOUNT OF $400,000 D9433
09/11/86
ORDINANCE NO. 131, 1986
AN ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF
FORT COLLINS, COLORADO, STREET OVERSIZING FUND
REVENUE NOTES, DATED OCTOBER 1, 1986, IN THE
AGGREGATE PRINCIPAL AMOUNT OF $400, 000;
PRESCRIBING THE FORM OF THE NOTES; AND PROVIDING
FOR THE PAYMENT OF THE NOTES AND THE INTEREST
THEREON.
WHEREAS, the Council (the "Council" ) of the City of
Fort Collins, Colorado (the "City" ) , has heretofore created South
Lemay Special Improvement District No. 86 (the "District" ) and
authorized the acquisition, construction and installation of
street, curb, gutter, sidewalk, street lighting, landscaped
medians, streetscaping, water, sanitary sewer, bridge and storm
drainage improvements (the "Improvements" ) therein, all in
accordance with the Charter of the City (the "Charter" ) and
Chapter 16 of the Code of the City (the "Code" ) ; and
WHEREAS, the Improvements will be acquired, constructed
and installed as set forth in Resolution 86-9, including
Exhibit "A" thereto, adopted by the Council on January 21, 1986,
and Ordinance No. 6, 1986, finally passed by the Council on
February 4, 1986; and
WHEREAS, the acquisition, construction and installation
of the Improvements in the District will confer general benefits
to the City as well as special benefits on the assessable
property within the District; and
WHEREAS, pursuant to Section 16-20 of the Code, the
City Engineer has computed the extra expenses associated with the
improvement of certain streets within the District as arterial or
collector streets rather than as residential streets (the
"Oversizing Costs" ) in connection with the Improvements and the
Oversizing Costs have been approved by the Council and are set
forth in that certain Agreement (the "Agreement" ) dated March 18,
1986, among Dueck Colorado Properties Ltd. ( "Dueck" ) , a British
Columbia Corporation, MSP Investment Co. ( "MSP" ) , a Colorado
general partnership, and Donald H. McKendry ( "McKendry" ) , an
individual (Dueck, MSP and McKendry, hereinafter collectively
referred to as the "Property Owners" ) and the City; and
WHEREAS, Section 16-20 of the Code provides that the
Oversizing Costs, as determined by the Council, shall be paid by
the City at large out of the City' s Street Oversizing Fund (the
"Street Oversizing Fund" ) established under Section 95-88 of the
Code; and
D9433 1 09/11/86
WHEREAS, the City Engineer has determined and the City
has agreed under the Agreement that the portion of the Oversizing
Costs within the District to be paid by the City to the Property
Owners and to be assessed against property in the District is
equal to $624, 852; and
WHEREAS, pursuant to the terms of the Agreement and
waivers executed by each of the Property Owners, the City will
issue its special assessments bonds in an amount sufficient to
provide for the $624, 852 portion of the Oversizing Costs and will
specially assess such amount against the property within the
District; and
WHEREAS, in partial consideration of such waiver by the
Property Owners and pursuant to the terms of the Agreement, the
City has agreed to issue a note in the amount of $400,000 to the
Property Owners; and
WHEREAS, pursuant to the provisions of Ordinance
No. 112, 1979, adopted September 11, 1979, as thereafter amended
from time to time and as may hereafter be amended from time to
time and as codified in Sections 95-88 through 95-92 of the Code,
the City has prescribed certain building permit fees to be
deposited to the Street Oversizing Fund which fees and any other
moneys which may be deposited therein by the City are hereinafter
referred to as "City Building Permit Fees" ; and
WHEREAS, Section 20. 3 of the Charter authorizes the
City, by Council action and without an election, to issue
securities made payable solely from any source other than ad
valorem taxes of the City;
WHEREAS, the Council has approved the Oversizing Costs
relating to the Improvements to the property within the District
and has determined that three Notes as defined in Section 1
hereof of the City payable from the moneys deposited in the
Street Oversizing Fund from time to time should be issued in the
aggregate principal amount of $400,000 payable to the Property
Owners as partial consideration for the inclusion of $624,852 of
Oversizing Costs in the amounts to be assessed against the
property in the District; and
WHEREAS, it is necessary to authorize the issuance of
the Notes and to provide for the payment thereof.
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, COLORADO AS FOLLOWS:
1. In order to provide for a portion of the
Oversizing Costs associated with the Improvements in the District
due to the Property Owners, the City shall issue its Street
D9433 2 09/11/86
Oversizing Fund Revenue Notes (the "Notes" ) , dated its date of
issuance and delivery, in the aggregate principal amount of
$400, 000, consisting of three (3) fully registered Notes,
numbered, in the denominations, registered in the names of the
Property Owners and pertaining to the property of each Property
Owner on Exhibits hereto, as follows:
Registered Property
Property Described
Notes Numbered Denominations Owner on Exhibit
1 $227,200 Dueck "A"
2 61, 600 MSP "B"
3 111,200 McKendry "C"
The principal balance of each Note (the "Principal Balance" ) at
any time and from time to time shall be the stated principal
amount thereof less the aggregate amount of installments paid
thereon by the City representing prepayments of principal
( "Principal Installments" ) in accordance with the stated terms of
the Notes.
The Notes shall mature on October 15, 1996. The Principal
Balance of each Note shall bear interest from October 15, 1989,
to October 15, 1996, at the rate of 8. 60% per annum. No interest
shall accrue on the Principal Balance of each Note from its date
of issuance and delivery to October 15, 1989 . Each Note shall
have two Schedules attached thereto and incorporated by reference
therein. The first Schedule shall be the description of the
property within the District owned by the respective Property
Owner who is the registered owner of the Note, as such property
is described on Exhibits "A, " "B, " or "C" hereto. The second
Schedule shall be the description of the property described on
Exhibit "D" hereto. The percentage of moneys deposited to the
Street Oversizing Fund from the City Building Permit Fees
pertaining to the Exhibit "D" property shall be set forth in each
Note as follows:
Percentage
Notes Numbered from Exhibit D Property
1 56. 8%
2 15 .4
3 27. 8
The maximum net effective interest rate for the Notes is 15%.
The actual net effective interest rate for the Notes is 8. 60%.
The principal of and interest on the Notes is payable on the
dates and in the amounts as provided in the form of the Notes,
D9433 3 09/11/86
the registration panel therefor and the schedule of Principal
Installments pertaining thereto as follows:
D9433 4 09/11/86
[ Form of Note]
UNITED STATES OF AMERICA
STATE OF COLORADO COUNTY OF LARIMER
CITY OF FORT COLLINS
STREET OVERSIZING FUND REVENUE NOTE
No. R-_ $
The City of Fort Collins (the "City" ) , in the County of
Larimer and State of Colorado, for value received, hereby
promises to pay to the registered owner hereof whose name,
address, and identification number appear on the registration
panel attached hereto, solely out of the special fund hereinafter
described, but not otherwise, the principal sum of
DOLLARS
or so much thereof as remains unpaid from time to time (the
"Principal Balance" ) in lawful money of the United States of
America, on the 15th day of October, 1996, unless this Note shall
have been prepaid in full pursuant to the terms hereof, and
likewise to pay interest on the Principal Balance hereof from
October 15, 1989, and not earlier, to the maturity date hereof or
such earlier date on which the Principal Balance has been paid in
full, at the rate of eight and sixty hundredths per cent (8. 60%)
per annum, payable as hereinafter provided and computed on the
basis of a month of 30 days and a year of 360 days. If upon
presentation at maturity the remaining Principal Balance of this
Note is not paid as provided herein, interest shall continue on
the Principal Balance at the same interest rate until the
Principal Balance hereof is paid in full. The principal of and
interest on this Note are payable to the registered owner hereof
by the Finance Director of the City. The Principal Balance of
the Note remaining at the Note' s maturity and the final interest
payment due on this Note is to be paid to the registered owner
hereof upon presentation and surrender of this Note at maturity
to the City. The interest and any installment paid hereon by the
City representing prepayments of principal on this Note
( "Principal Installments" ) other than the final Principal
Installment paid at maturity is to be paid to the registered
owner hereof on the date of such payment by check or draft mailed
to such registered owner at the address appearing on the
registration books of the City maintained by the City Clerk as
registrar of this Note.
D9433 5 09/11/86
The interest on this Note is payable annually on each
October 15, commencing October 15, 1990, solely from amounts
deposited to the Street Oversizing Fund of the City (the "Street
Oversizing Fund" ) as a result of the City Building Permit Fees
derived by the City from the sources as hereinafter provided.
"City Building Permit Fees" shall mean the fees prescribed and to
be deposited to the Street Oversizing Fund by the City pursuant
to the provisions of Ordinance No. 112 , 1979, adopted
September 11, 1979, as thereafter amended from time to time and
as may hereafter be amended from time to time, and as codified in
Sections 95-88 through 95-92 of the Code of the City and any
other moneys which may be deposited to the Street Oversizing
Fund.
The Principal Balance of this Note is subject to
mandatory prepayment prior to maturity in whole or in part in
Principal Installments of $100 or any integral multiple thereof
plus accrued interest on the outstanding Principal Balance of
this Note on such prepayment date, with no premium, as follows:
on each October 15 the Finance Director of the City shall prepay
the Principal Balance of this Note, in Principal Installments
which are approximately equal to the sum of (i ) all City Building
Permit Fees which have been deposited to the Street Oversizing
Fund since the immediately preceding October 15 and derived by
the City from the property owned by [ insert name of Property
Owner] as of the date of this Note, regardless of the transfer of
ownership of such property subsequent to the date of this Note,
located within the City" s South Lemay Special Improvement
District No. 86 (the "District" ) and described in full on
Schedule A hereto plus (ii ) _% of all City Building Permit Fees
which have been deposited to the Street Oversizing Fund since the
immediately preceding October 15 and derived by the City from the
property described in full on Schedule B hereto less the amount
of interest due on the Principal Balance of this Note on such
date which interest is to be paid first and exclusively from the
sources described in clauses (i ) and (ii) of this sentence until
the maturity date of this Note. Prior to the maturity date of
this Note and, in the event that the moneys derived from the
sources described above are not sufficient to pay the interest
hereon when due, such deficiency in interest shall be added to
the Principal Balance of this Note. If any amount of the
Principal Balance of this Note shall have been duly called for
prepayment, such amount shall become due and payable upon such
prepayment date, and from and after such date interest shall
cease to accrue thereon.
This Note is one of a series of three notes issued in
the aggregate principal amount of $400,000 for the purpose of
providing payment to the owners of property within the District
of certain of the extra costs incurred by such Property Owners in
improving certain streets within the District as arterial or
D9433 6 09/11/86
collector streets rather than residential streets, as more
specifically provided in an ordinance of the City (the
"Ordinance" ) authorizing the issuance of this Note. This Note is
a special and limited obligation of the City payable solely out
of and secured by an irrevocable (but not exclusive) pledge of
all of the assets of the Street Oversizing Fund. This Note and
the interest hereon do not constitute a debt or indebtedness of
the City within the meaning of any constitutional, home rule
charter or statutory provision or limitation of the State of
Colorado.
Subject to the limitations regarding the prepayment of
the Principal Balance of this Note and the payment of interest
thereon set forth herein, payment of the Principal Balance of and
interest on this Note shall be made solely from, and as security
for such payment there are irrevocably (but not exclusively)
pledged, pursuant to the Ordinance, all of the assets of the
Street Oversizing Fund, including all moneys deposited and held
therein, from time to time, into which Fund the City has
covenanted in the Ordinance to continue to deposit all City
Building Permit Fees collected by the City pursuant to Sections
95-90 and 95-91 of the Code of the City. In addition, the City
may at its option augment such funds with any other moneys of the
City legally available for expenditure for the purposes thereof
as provided in the Ordinance.
Subject to the limitations regarding the prepayment of
the Principal Balance of this Note and the payment of interest
thereon set forth herein, this Note is secured by a lien on all
of the assets of the Street Oversizing Fund including all moneys
deposited and held therein, and constitutes an irrevocable, first
lien (but not necessarily an exclusive first lien) upon such
assets. Other City notes or obligations have been and may be
issued and made payable from the assets of the Street Oversizing
Fund having a lien thereon on a parity with the lien of this Note
in accordance with the provisions of the Ordinance. Further, the
City may use the assets of the Street Oversizing Fund from time
to time to provide for street oversizing costs throughout the
City. The City covenants and agrees with the registered owner of
this Note that it will keep and perform all of the covenants of
this Note and of the Ordinance.
It is hereby recited, certified and warranted that all
of the requirements of law have been fully complied with by the
proper officers of the City in the issuance of this Note; that it
is issued pursuant to and in strict conformity with the
Constitution and all other laws of the State of Colorado,
including the Home Rule Charter of the City, and with the
Ordinance; that this Note does not contravene any constitutional,
charter or statutory limitation of the State of Colorado; and
that this Note is issued under the authority of the Ordinance.
D9433 7 09/11/86
For the payment of this Note and the interest hereon,
the City pledges the exercise of all its lawful corporate powers.
This Note is transferable only upon the registration
books of the City at the office of the City Clerk by the
registered owner hereof upon surrender hereof together with a
written instrument of transfer duly executed by the registered
owner or his, her or its duly authorized attorney-in-fact or
legal representative with guaranty of signature satisfactory to
the City Clerk, containing written instructions as to the details
of the transfer, along with the social security number or federal
employer identification number of the transferee and, if the
transferee is a trust, the names and social security numbers of
the settlors and beneficiaries of the trust. Transfers are to be
made without charge, except that the City Clerk may require
payment of a sum sufficient to defray any tax or other
governmental charge that may hereafter be imposed in connection
with any transfer of notes. Upon such transfer the City Clerk is
to enter the date of registration and the name, address, and
social security number or federal employer identification number
of the new registered owner of this Note on the registration
panel attached hereto. The City may deem and treat the person in
whose name this Note is last registered upon the books of the
City as the absolute owner hereof for the purpose of receiving
payment of the principal of and interest on this Note and for all
other purposes, and all such payments so made to such person or
upon his, her or its order will be valid and effective to satisfy
and discharge the liability of the City upon this Note to the
extent of the sum or sums so paid, and the City will not be
affected by any notice to the contrary.
This Note has been issued and delivered without
registration under the Securities Act of 1933, as amended, or
other state, Federal or other securities laws, and without
distribution of a prospectus or other comprehensive offering
document, in reliance upon the availability of an appropriate
exemption from registration and representations of the initial
registered owner of this Note that this Note is being acquired
solely for investment and not with a view to distribution or
resale. This Note shall not be sold, pledged, hypothecated,
donated or otherwise transferred, including the sale of a
participation interest herein, whether or not for consideration,
by the initial registered owner or any other registered owner
except as permitted by law and subject to all applicable
regulations of the Securities Act of 1933, as amended.
IN WITNESS WHEREOF, the Council of the City of Fort
Collins, Colorado has caused this Note to be executed in its name
and on its behalf with the manual signature of the Mayor of the
City, to be sealed with the seal of the City, to be attested with
the manual signature of the City Clerk of the City, and to be
D9433 8 09/11/86
countersigned with the manual signature of the Finance Director
or Acting Finance Director of the City, all as of the 1st day of
October, 1986.
CITY OF FORT COLLINS, COLORADO
(CITY) By: (Manual Signature)
(SEAL) Mayor
Attest: Countersigned:
(Manual Signature) (Manual Signature)
City Clerk Finance Director or Acting
Finance Director
D9433 9 09/11/86
(Schedule A to form of Note)
SCHEDULE A
[ Insert Property Description
from Exhibits "A, " "B" or "C"
of Note Ordinance]
D9433 10 09/11/86
(Schedule B to form of Note)
SCHEDULE B
[ Insert Property Description
from Exhibit "D" of Note Ordinance]
D9433 11 09/11/86
(Registration Panel)
This Note is registered in the office of the City Clerk
of the City of Fort Collins, Colorado, as registrar, or its
successor registrar, in the name of the owner listed below, and
the principal of and interest on this Note shall be payable only
to such owner.
Name, Address, and
Date of Identification Number of Signature of
Registration Registered Owner City Clerk
October 1986
D9433 12 09/11/86
SCHEDULE OF PRINCIPAL INSTALLMENTS
Upon the payment of any Principal Installment the
within Note shall be marked with the appropriate endorsement on
the table below. Any Principal Installment made by the City on
the Note shall, whether or not endorsed below, fully discharge
the City' s obligations under the Note to the extent of the
payment of such Principal Installments. Any prospective
purchaser of this Note should verify with the Finance Director of
the City the Principal Balance of this Note prior to the purchase
thereof.
Date of Signature of
Authorized
Payment of Amount of Remaining Representative
Principal Principal Principal of Registered
Installment Installment Balance Owner
[End of Form of Bond]
D9433 13 09/11/86
(Assignment Form to be Used for Transfers)
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned sells, assigns and
transfers unto
PLEASE INSERT SOCIAL SECURITY OR
OTHER IDENTIFYING NUMBER OF ASSIGNEE
(Name and Address of Assignee)
the attached Note and does hereby irrevocably constitute and
appoint , , , or its
successor, as transfer agent, to transfer said Note on the books
kept for registration thereof.
Dated:
Signature guaranteed:
(Bank, Trust Company or Firm)
NOTICE: The signature to this
assignment must correspond
with the name of the
Registered Owner as it appears
upon the registration panel of
the attached Note in every
particular without alteration
or enlargement or any change
whatever.
D9433 14 09/11/86
2 . The Mayor, the Finance Director or Acting Finance
Director and the City Clerk are hereby authorized to execute the
Notes as provided therein and deliver the Notes to the respective
Property Owners pursuant to the terms of the Agreement.
3 . All of the assets of the Street Oversizing Fund,
including all moneys deposited and held therein, from time to
time, are hereby pledged to secure the payment of the Principal
Balance of and interest on the Note subject to the equal lien of
the City' s outstanding Street Oversizing Fund Revenue Note dated
September 15, 1984, originally issued by the City in the
principal amount of $286,000 and presently outstanding in the
principal amount of $286,000, subject to the ability of the City
to issue other obligations payable from such assets and the
application of such assets for the payment of other street
oversizing costs for improvement projects throughout the City and
subject to the limitations regarding the prepayment of the
Principal Balance of each of the Notes and the payment of
interest thereon as set forth in each Note. This pledge shall be
valid and binding from and after the date of the delivery of the
Notes and the moneys as received by the City from City Building
Permit Fees and hereby pledged shall immediately be subject to
the lien of this pledge without any physical delivery thereof,
any filing, or further act, and the lien of this pledge and the
obligation to perform the contractual provisions hereby made
shall have priority over any and all other obligations and
liabilities of the City except as herein otherwise expressly
provided and the lien of this pledge shall be valid and binding
as against all parties having claims of any kind in tort,
contract or otherwise against the City (except as herein
otherwise expressly provided) , irrespective of whether such
parties have notice thereof.
4. The City hereby covenants and agrees with the
registered owners of the Notes at any time as follows:
(a) The City will prescribe, revise and collect
street oversizing fees and charges to be deposited to the
Street Oversizing Fund in accordance with the provisions of
Ordinance No. 112 , 1979, adopted September 11, 1979, as
codified in Sections 95-88 through 95-92 of the Code.
(b) The City will either (i ) maintain the Street
Oversizing Fund as provided in the Code and, as set forth in
Section 95-91 of the Code, adjust, at least annually upon
the recommendation of the Director of Public Works, the City
Building Permit Fees to reflect the actual costs of street
oversizing as indicated either by billings received by the
City for street oversizing or by other reasonable means; or
(ii ) in the event that the Council has determined that the
Street Oversizing Fund shall no longer be maintained,
D9433 15 09/11/86
deposit with each respective Property Owner sums sufficient
to provide for the payment of the Principal Balance of and
interest on the Notes when due.
5 . This Ordinance is and shall constitute a
legislative measure of the City and after the Notes are issued
this Ordinance shall constitute an irrevocable contract between
the City and the registered owners of the Notes at any time.
This Ordinance shall be and shall remain irrepealable until the
Note shall be fully paid, cancelled and discharged as herein
provided.
6. All ordinances, resolutions, and other instruments
or parts thereof inconsistent herewith are hereby repealed to the
extent only of such inconsistency. This repealer shall not be
construed to revive any ordinance, resolution, or other
instrument or part thereof heretofore repealed.
7. If any section, subsection, paragraph, clause or
other provision of this Ordinance shall for any reason be held to
be invalid or unenforceable, the invalidity or unenforceability
thereof shall not affect any of the remaining sections,
subsections, paragraphs, clauses or provisions of this Ordinance.
READ, AMENDED, FINALLY PASSED AS AMENDED ON SECOND
READING, AND ORDERED PUBLISHED ONCE BY NUMBER AND TITLE ONLY this
16th day of September, 1986.
CITY OF FORT COLLINS, COLORADO
By:
(CITY) May
(SEAL)
Attest:
City Clerk
D9433 16 09/11/86
ORDINANCE NO. 131 , 1986
AN ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF
FORT COLLINS, COLORADO, STREET OVERSIZING FUND
REVENUE NOTES, DATED OCTOBER 1, 1986, IN THE
AGGREGATE PRINCIPAL AMOUNT OF $400,000;
PRESCRIBING THE FORM OF THE NOTES; AND PROVIDING
FOR THE PAYMENT OF THE NOTES AND THE INTEREST
THEREON.
READ, AMENDED, FINALLY PASSED AS AMENDED ON SECOND
READING, AND ORDERED PUBLISHED ONCE BY NUMBER AND TITLE ONLY this
16th day of September, 1986.
CITY OF FORT COLLINS, COLORADO
(CITY) May
(SEAL)
At est:
City Clerk
The text of the foregoing Ordinance is available for
public inspection and acquisition in the office of the City
Clerk.
D9433 17 09/11/86
Exhibit "A"
Prol)crLv or meek Colorado Properties, Ltd.
Descr ilit ion :
A tract of land located in a part of Section 13, Township 6
tsorlh, itangc 69 West of the Sixth Principal Meridian, Larimer
County, Colorado, being more particularly described as follwos :
ConniderinU Lite West line of Lite Northwest quarter of said
Section 13 an hearing North 00003930" West and with all bearings
contained herein relative thereto; commencing at the West quarter
cotnar of nail ecLion 13, South 09040147" East 50.00 feel to a
itnirtL nit Litt: I:ant right-of-way of U.S. Route 207 said point heincl
the true I)oint. of beginning; thence South 09040147" Cast 152 .37
feet. to a hoist Iscing Lite approximate high water line of Robert
Ilen:;ort Lake (also known an Fairport Reservoir) ; thence around the
tlorth t:nd or Live lake along the following courses : north
03"03 '59 " west 95.00 feet; North 16010143" East 160.60 fret ;
tlorLlt 17012 '34 " East 110.30 feet; North 32040'13" Cast 264 .91
fecL ; t: ht:nce IlorLh 56007145" East 07.92 feet; South 07052 '44 "
Eani: 27.02 feel; North 76049139" East 40.27 feel; South 70006'41"
East J0 . 03 fncL ; North 70000 '41 " East 114 .03 feet ; South
30"47 '2 ; " I:a:;L 137.20 feet; South 47050103" East 143.01 feet.;
t;otsllt 63"05'20" East 140.03; South 73053142" Fast 147.00 fret;
I;auLIt 4 .1"31107" Cant 04.15 feel; South 43005127" East 42.45 feel;
';u"Llt 35"54135" East 35.00 feet; South 35019106" East 273.30
feel ; N,111Lh 35011133" Eant 40.09 feet; thence departing sold lake
1•nuntiaty along Cite North line of the Southwest quarter as
determined by deeds of record and usage, . South 09040 ' 47" Ca::t
275.49 rest ; thence North 33053100" West 051.75 feet; thence
110, tit 00"05'00" Cant .323.60 feet; thence South 72057'00" East
367 .20 feel ; thence South 69014 '00" East 161 .12 feel ; thence
Soot It 74"10'3n" East 32G.74 feet; thence North 06029 '00" Eaut
550.:0 rest to a point. on the West line of the t1ortheast quarter
of ::aid !;ect inn 13 as determined by deeds of record and usage;
theme alnng nald {JcrL line North 00026'32" West 745.29 feet ;
Lhencc Nottl.11 119"56'01)" F.ar.L• 600.00 feet; thence North 00003652 "
Ea%i r) 2n. 47 rt:oL; Lhcnce North 0007. 3'00" West 530.96 feet to a
"n I.hr: :ou Lhci ly righL-or-way of a County Road and 30 feel
South or List? Mirth line of: the Northeast quarter of said SsccLian
13; Lhtrttce along Lhc said Southerly right-of-way and parallel to
Lite said Ilotlh :section line South 00012125" East 2074.65 feet to
a point not Litt! Weul:rrly righL•-of-way of a County itoad and 30 CceL
West of Lite Iia:;L- tine of said Section 13 ; thence along. Lite sail
Westerly ritlhL-of-way turd parallel to Lite said Cast section linv
South 00010 '25" Wt:nt 5223.60 feet to a point on the northerly
r ight.-or-way of a CounLy Road and 30 feel• North of the South 1 inc
of Litt.- :;out.heast quarLer or said Section 13; thonce along Lite
snit) ItutLherly right-of-way and parallel to the said South
seclicst line. Iiort:lt 09029*05" West 2639.22 feet to a point on the
East line of "victoria Estates subdivision"; thence along the
said East line and the extension thereof North 00002147" Nast
1477.00 feat; thence South 030421130 West 615.00 feet ; thence
tsorllt 71032 '47" Went 300.00 feels thence North 62002 '47' Want
400.00 reel ; thence North 09032'47" West 544.00 feel• ; thuncu
Isttrlh 74nJ2'47' .Want 047.43 feet to a poin on the Easterly right-
- of- way of U.3. Itouta 2071 thence along the said Easterly rLght-
of-way NorLls 00007121" East 735.43 feet to the True Point of
Uc.linstitttJ , consisting of approximately 407.4 acres more or less.
(Exhibit "B" )
(MSP Property Description)
MSP Investment Company, A Colorado Genecal Pactnecehlp
Description:
Commencing at the Southeast corner of Section 12, Township 6
Ilorth, Range 69 West of the 6th P.M., said point being the Point
of 11eU inninU; thence North 000271400 West along the South line of
::ail Section 12 a distance of 1443 .94 feet ; thence North
00000'00' East 2042.92 feet; thence South 07033*54" East, 656.25
feet; thence South 07034*09" East, 250.00 feat ; thence South
00000100" Went, 614 .37 feet; thence North 90000'00" East, 530.00
feet• to a point on the East line of said Section 12; thence South
00e00'00" West along the East line of said Section 12 a distance
of 1420.50 foot to the Point of Beginning, County of Lacimec,
State of Colorado, consisting of approximately 60.0 acres more or
less.
Exhibit "C"
(McKendry Property Description)
Donald 11. McKendry
Description:
That. portion or Nortltwast Quarter of Section 10 Township 6
llorl.h Mantle 60 West of tho GL• h Principal Meridian, Larimer
ColJoLy, Colorado. Being more particularly described as follows :
teginning at Lite Northwest corner of said Section 10; thence
alorttl llutl.h line of nald Northwost corner North 09006156 ' East
1919 4 7 reel' ; tltertce South 00053'04" East 1061.16 feet ; thence
:7"ul.lt 119006.56 " West 294.50 feet; thence North 65000'00' West
5oo.00 rsiet. Lo a point on a curve concave to the West having a
ct•nl rat anslle or 06030'00", a radius of 200.00 Ceet; thence
Strut hs•r l •; alonsl Lite arc of nald curve 22.69 feet; thence tantlent
rtum ::.list c•ttrve South 31030'00" Went- 655.23 feet to Lite beginning
tt1 a larnlnnt: curve concave to the Bast having a central angle of
.II"J7'nn" ;t rrvliun ur 200.00 feet; thence Southerly along the arc
tit' ::.till t•urve 310. 4t1 roe)• ; thooce L• ongent from uald curve South
Pn"n? 'n0" I:.tsL 311 .00 root to the beginning of a tangent curve
fanravV Lo I-he CasL• having a central anglo of 17051100" a radiun
or 2on.ull rest; thence Southerly along the arc 'of said curve
a ;, ] I reeL ; Lhence tangent from said curve South 10000'00" Cast
441. 111 1't:rl. Ln Lite beginning of a tangent curve being concave to
the ;teat: having a central angle of 17051'00" a radius of 200.00
1t:•:L ; Lltt:nce ::nttl-Iterly along the arc of said curve 63 .31 feet;
t iv-si •e Lan•lenl Crom salt) curve South 00009 '00" Cast 196.43 feet
t ., th,r tiuurh line or raid Norlhwenl quarter; thence along said
troth 1 ins: auut:h 09"52139" West 979.06 feet to the West line of
::aid r1" tihwt•:;1: puarLer; thence along said West line florLh
Ou"I l 'u5" I asIL 2505.63 feet to the point of beginning, consisting
of approximaLcly 77. 3 acres more or less.
Exhibit "D"
(Description of Property Excluded from District)
PROPERTY OWNED BY FOSSIL CREEK MEADOWS DEVELOPMENT GROUP
ADJOINING SOUTH MAY AVENUE
A tract of land situated in Section 12r Township 6 North, Range
69 pest of the 6th P.N., and section 7r Township 6 North, Range
68 pest of the 6th P.N., County of Larimere State of Colorado,
being more particularly described as follows:
Considering the North line of the Northwest quarter of said
Section 12 as bearing South 89006133" East, and with all bearings
contained herein relative thereto;
beginning at the North quarter corner of Section 12t proceed
thence South 89009125" East 2683.95 feet along the North line of
the Northeast quarter of said section 12 to the Northeast corner
of said Section 121 thence South 000021190 West 1360.70 feet
along the East line of the Northeast quarter of said Section 12;
thence leaving said East line of the Northeast quarter of said
Section 12t south 890571419 East 30.00 feett thence South
260221411 Bast 570.20 teen thence South 09035'47" Nest 216.64
feet; thence South 23008119" West 554.90 feet; thence North
890571410 west 30.00 feet to the existing East one quarter corner
of said Section 22; thence south 000031370 West 568.09 feet;
thence North 890551230 Nest 530.00 feett thence South 000031370
west $5.58 feet thence North 870291430 West 258.21 feet; thence
North 87029'30'� West 715.82 feet; thence North 870471300 West
750.07 feet; thence North 600081290 Nest 509.70 feet; thence
Worth 000151130 East 343.38 feet more or less to the center
�uarter corner of said Section 12$ thence North 890401220 west
216.67 feet more or less along the South line of the Northwest
quarter of said Section 12 to the existing Southeast corner of
the Belmar Stripy Second Filing, a Subdivision on file in the
office of the Larimer County Clerk and Recorder, Colorado; thence
alongg the East line of said Kalmar Strip,, Second Filingr North
00024'32" West 1332.30 feet to the existing Northeast corner of
said Kalmar Strip. Second Filings thence South $80571220 Bast
1634.53 Pest; thence North 00029124" East 344.09 feet ;thence
North 640371060 West 239.99 feet; thence North 31012114" West
353.28 feett thence North 160521041 West 298.33 feet; thence
North 100231200 Nest 295.53 fast; thence South 890061330 East
1152.81 feet more or less along the North line of the Northwest
quarter of said' section 12 to the Worth quarter corner of said
Section 12 and the True Point of Beginning.
Exhibit "D" (2nd Page)
EXCEPTING THEREFROM all of HUNTINGTON MILLS P.B.D., Filing 1, as
amended by Resolution 81-166 of the City of Fort Collins,
recorded January 18, 2982 in Book 2150, Page 1009 and also
EXCEPTING THEREFROM that certain parcel as conveyed to the City
of Fort Collins by deed recorded in Book 2153, Page $56.
Containing 153.933 acres and is subject to all easements and
rights-of-way now existing or of record.
PROPERTY OWNED BY THE BOUTS FORT COLLINS SANITATION DISTRICT
ADJOINING SOUTH LEMAT AVENUE
A tract of land located in the Southeast quarter of Section 12,
Township 6 North, Range 69 West of the 6th P.M., in Larimer
County, Colorado being further described as follows:
Commencing at the Southeast corner of said Section 12, and
considering the East line of said Section 12 to bear North
OOc00'00" East , with all bearings contained herein relative
theretoi thence North 00000100/ East, 1#928.50 feet along the
Cast line of said Secion 121 thence North 90000,00" Neat, 30,00
feet to the West right-of-way line of County Road Number 13 and
to the point of beginnings thence North 900001000 Neat, 500.00
feetr thence North 00000,000 East 199.93 feet= thence North
90000'00" East 500.00 feet to a point with lies 30.00 feet as
measured at right angles from the East line of said Section 121
thence south 00000100" west, 299.93 feet to the true point of
beginning.
The above described tract contain• 2.293 acres and is subject to
all easements and rights-of-wey now existing or of record.
i