HomeMy WebLinkAbout018 - 02/16/1993 - SUBMITTING A PROPOSED CHARTER AMENDMENT PERTAINING TO CITY OWNED UTILITIES TO A VOTE OF ELECTORS ORDINANCE NO. 18, 1993
OF THE COUNCIL OF THE CITY OF FORT COLLINS
SUBMITTING A PROPOSED AMENDMENT TO ARTICLE V, PART II,
SECTION 19.3, OF THE CITY CHARTER, PERTAINING
TO CITY-OWNED UTILITIES, TO A VOTE OF THE
REGISTERED ELECTORS OF THE CITY OF FORT COLLINS
WHEREAS, Article IV, Section 8 of the Charter of the City of Fort Collins
provides that the Charter may be amended as provided by the laws of the State of
Colorado; and
WHEREAS, Section 31-2-210, C.R.S. , provides that Charter amendments may be
initiated by the adoption of an ordinance by the Council submitting a proposed
amendment to a vote of the registered electors of the City of Fort Collins; and
WHEREAS, on November 3, 1992, the registered electors of the State of
Colorado approved an amendment to the Colorado Constitution ("Amendment 1") which
establishes certain borrowing and revenue and expenditure limitations for the
City; and
WHEREAS, Amendment 1 excludes from its application the borrowings and
revenues and expenditures of City-owned enterprises which receive under ten
percent of their annual revenue in grants from all Colorado state and local
governments combined and which are authorized to issue their own revenue bonds;
and
WHEREAS, the Council believes that it is in the best interest of the City
to submit to the registered electors of the City the question of whether Council
may, by ordinance, establish City-owned utilities as enterprises and authorize
such enterprises to issue their own revenue bonds.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1 . That the following proposed Charter amendment shall be
submitted to the registered voters of the City at the next regular City election
to be held on April 6, 1993:
PROPOSED CHARTER AMENDMENT NO. 1
That Article V, Part II, Section 19.3, of the City Charter is hereby
amended to read as follows:
Section 19.3. Revenue securities.
(a) The city, by Council action and without an election, may
issue securities made payable solely from revenues derived from the
operation of the project or capital improvement acquired with the
securities' proceeds, or from other projects or improvements, or
from the proceeds of any sales tax, use tax or other excise tax, or
solely from any source or sources or any combination thereof other
than ad valorem taxes of the city.
(b) The Council may, by ordinance, establish any one or more of
the city's water, wastewater, storm drainage or electrical utilities
as an enterprise of the city. The Council may also, by ordinance,
authorize any such city-owned enterprise, acting by and through the
Council , sitting as the board of the enterprise, to issue its own
revenue bonds or other obligations (including refunding securities)
on behalf of the city, which revenue bonds or other obligations
shall be payable solely from the net revenues (including special
assessments) derived from the operation of the enterprise. Such
revenue bonds or other obligations may be additionally secured by
mortgages on or security interests in any real or personal property
of the city used in the operation of the enterprise. Such revenue
bonds or other obligations shall be issued by ordinance of the board
of the enterprise, adopted in the same manner and subject to
referendum to the same extent as ordinances of the Council .
The Council shall not appoint any persons other than its own
members to serve on the board of the enterprise or delegate to any
other person or entity the powers reserved to the board of the
enterprise hereunder. Neither shall the Council authorize the board
of the enterprise to acquire, construct or install or hold title to
or dispose of any city-owned property used in the operation of the
enterprise, to impose or adjust rates, fees, tolls or charges for
the use of any such property or for any service or commodity
furnished by the enterprise, to levy special assessments or to
exercise any power reserved to the Council or other city officials
by this Charter or otherwise (other than the power to issue revenue
bonds and other obligations) .
Section 2. That the following ballot language is hereby adopted for
submitting Proposed Charter Amendment No. 1 to the voters at said election:
PROPOSED CHARTER AMENDMENT NO. 1
AN AMENDMENT TO ARTICLE V, PART II, SECTION 19.3 OF THE CHARTER
PROVIDING THAT THE COUNCIL MAY, BY ORDINANCE, ESTABLISH ONE OR MORE
OF THE CITY'S WATER, WASTEWATER, STORM DRAINAGE OR ELECTRICAL
UTILITIES AS AN ENTERPRISE AND AUTHORIZE ANY SUCH ENTERPRISE TO
ISSUE ITS OWN REVENUE BONDS PAYABLE SOLELY FROM THE NET REVENUES
DERIVED FROM THE OPERATION OF THE ENTERPRISE; AND AUTHORIZING THE
PLEDGE OF ANY REAL OR PERSONAL PROPERTY OF THE ENTERPRISE TO SECURE
SUCH REVENUE BONDS.
FOR THE AMENDMENT
AGAINST THE AMENDMENT
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Introduced, considered favorably on first reading, and ordered published
this 2nd day of February, A.D. 1993, and to be presented for final passage on the
16th day of February, A.D. 1993.
L4,64-VI
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 16th day of February, A.D. 1993.
J
ayor
ATTEST: (�
City Clerk T�
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